Document:

Amended and Restated Five Year Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 U.S. $500,000,000 

AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT 
 Dated as of December 8, 2011 
 Among 

SNAP-ON INCORPORATED 
 as Borrower 
 and 

THE INITIAL LENDERS NAMED HEREIN 
 as Initial Lenders 
 and 

J.P. MORGAN SECURITIES LLC 
 and 
 CITIGROUP GLOBAL MARKETS INC. 

as Joint Lead Arrangers and Joint Bookrunners 

and 
 JPMORGAN
CHASE BANK, N.A. 
 as Agent 
 and 
 MIZUHO CORPORATE BANK (USA), UBS SECURITIES LLC and U.S. BANK NATIONAL

 ASSOCIATION 
 as Co-Documentation Agents 

 TABLE OF CONTENTS 

 

					
	 ARTICLE I
	 			
		
	 SECTION 1.01. Certain Defined Terms
	 	 	1	  
		
	 SECTION 1.02. Computation of Time Periods
	 	 	14	  
		
	 SECTION 1.03. Accounting Terms
	 	 	14	  
		
	 SECTION 1.04. Interpretation
	 	 	15	  
		
	 SECTION 1.05. Additional Alternative Currencies
	 	 	15	  
		
	 ARTICLE II
	 			
		
	 SECTION 2.01. The Revolving Credit Advances
	 	 	15	  
		
	 SECTION 2.02. Making the Revolving Credit Advances
	 	 	16	  
		
	 SECTION 2.03. The Competitive Bid Advances
	 	 	17	  
		
	 SECTION 2.04. Fees
	 	 	20	  
		
	 SECTION 2.05. Optional Termination or Reduction of the Commitments
	 	 	20	  
		
	 SECTION 2.06. Repayment of Revolving Credit Advances
	 	 	20	  
		
	 SECTION 2.07. Interest on Revolving Credit Advances
	 	 	20	  
		
	 SECTION 2.08. Interest Rate Determination
	 	 	21	  
		
	 SECTION 2.09. Optional Conversion of Revolving Credit Advances
	 	 	22	  
		
	 SECTION 2.10. Prepayments of Revolving Credit Advances
	 	 	22	  
		
	 SECTION 2.11. Increased Costs
	 	 	23	  
		
	 SECTION 2.12. Illegality
	 	 	24	  
		
	 SECTION 2.13. Payments and Computations
	 	 	24	  
		
	 SECTION 2.14. Taxes
	 	 	25	  
		
	 SECTION 2.15. Sharing of Payments, Etc.
	 	 	28	  
		
	 SECTION 2.16. Evidence of Debt
	 	 	28	  
		
	 SECTION 2.17. Use of Proceeds
	 	 	28	  
		
	 SECTION 2.18. Increase in the Aggregate Commitments
	 	 	28	  
		
	 SECTION 2.19. Extension of Termination Date
	 	 	30	  

  
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	 SECTION 2.20. Defaulting Lenders
	 	 	31	  
		
	 SECTION 2.21. Replacement of Lenders
	 	 	32	  
		
	 SECTION 2.22. Removal of Lenders
	 	 	32	  
		
	 ARTICLE III
	 			
		
	 SECTION 3.01. Conditions Precedent to Amendment and Restatement
	 	 	33	  
		
	 SECTION 3.02. Conditions Precedent to Each Revolving Credit Borrowing, Commitment Increase and Commitment
Extension
	 	 	34	  
		
	 SECTION 3.03. Conditions Precedent to Each Competitive Bid Borrowing
	 	 	35	  
		
	 SECTION 3.04. Determinations Under Section 3.01
	 	 	35	  
		
	 ARTICLE IV
	 			
		
	 SECTION 4.01. Representations and Warranties of the Borrower
	 	 	36	  
		
	 ARTICLE V
	 			
		
	 SECTION 5.01. Affirmative Covenants
	 	 	37	  
		
	 SECTION 5.02. Negative Covenants
	 	 	39	  
		
	 SECTION 5.03. Financial Covenant
	 	 	41	  
		
	 ARTICLE VI
	 			
		
	 SECTION 6.01. Events of Default
	 	 	42	  
		
	 ARTICLE VII
	 			
		
	 SECTION 7.01. Appointment and Authority
	 	 	43	  
		
	 SECTION 7.02. Rights as a Lender
	 	 	44	  
		
	 SECTION 7.03. Exculpatory Provisions
	 	 	44	  
		
	 SECTION 7.04. Reliance by Agent
	 	 	44	  
		
	 SECTION 7.05. Indemnification
	 	 	45	  
		
	 SECTION 7.06. Delegation of Duties
	 	 	45	  
		
	 SECTION 7.07. Resignation of Agent
	 	 	45	  
		
	 SECTION 7.08. Non-Reliance on Agent and Other Lenders
	 	 	46	  
		
	 SECTION 7.09. Other Agents
	 	 	46	  
		
	 ARTICLE VIII
	 			

  
 ii 

					
	 SECTION 8.01. Amendments, Etc.
	 	 	46	  
		
	 SECTION 8.02. Notices, Etc.
	 	 	47	  
		
	 SECTION 8.03. No Waiver; Remedies
	 	 	48	  
		
	 SECTION 8.04. Costs and Expenses
	 	 	48	  
		
	 SECTION 8.05. Right of Set-off
	 	 	49	  
		
	 SECTION 8.06. Binding Effect
	 	 	49	  
		
	 SECTION 8.07. Assignments and Participations
	 	 	49	  
		
	 SECTION 8.08. Confidentiality
	 	 	52	  
		
	 SECTION 8.09. Governing Law
	 	 	52	  
		
	 SECTION 8.10. Execution in Counterparts
	 	 	52	  
		
	 SECTION 8.11. Judgment
	 	 	52	  
		
	 SECTION 8.12. Jurisdiction, Etc.
	 	 	53	  
		
	 SECTION 8.13. Substitution of Currency
	 	 	53	  
		
	 SECTION 8.14. Patriot Act Notice
	 	 	54	  
		
	 SECTION 8.15. Termination of Existing Credit Agreement
	 	 	54	  
		
	 SECTION 8.16. Waiver of Jury Trial
	 	 	54	  

 Schedules 

Schedule I – List of Applicable Lending Offices 
 Schedule 1.01 – Mandatory Cost 
 Schedule 3.01(b) – Disclosed Litigation 

Schedule 5.02(a) – Existing Liens 

Exhibits 
  

					
			
	Exhibit A-1	  	–	  	Form of Revolving Credit Note
			
	Exhibit A-2	  	–	  	Form of Competitive Bid Note
			
	Exhibit B-1	  	–	  	Form of Notice of Revolving Credit Borrowing
			
	Exhibit B-2	  	–	  	Form of Notice of Competitive Bid Borrowing

  
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	 Exhibit C
	  	–	  	Form of Assignment and Assumption
			
	 Exhibit D-1
	  	–	  	Form of Opinion of Counsel for the Borrower
			
	 Exhibit D-2
	  	–	  	Form of Opinion of Counsel for the Borrower

  
 iv 

 EXECUTION COPY 
 AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT 
 Dated as of December 8, 2011

 SNAP-ON INCORPORATED, a Delaware corporation (the “Borrower”), the banks, financial institutions and other
institutional lenders (the “Initial Lenders”) listed on the signature pages hereof, J.P. MORGAN SECURITIES LLC (“JPMorgan”) and CITIGROUP GLOBAL MARKETS INC. (“CGMI”), as joint lead arrangers (each,
a “Lead Arranger” and collectively, the “Lead Arrangers”) and joint bookrunners, MIZUHO CORPORATE BANK (USA), UBS SECURITIES LLC and U.S. BANK NATIONAL ASSOCIATION, as co-documentation agents, and JPMORGAN CHASE
BANK, N.A. (“JPMCB”), as administrative agent (the “Agent”) for the Lenders (as hereinafter defined), agree as follows: 
 PRELIMINARY STATEMENT. The Borrower, the lenders party thereto, JPMCB, as administrative agent, JPMorgan and CGMI, as joint lead arrangers and joint bookrunners, are parties to an Amended and Restated
Five Year Credit Agreement dated as of August 10, 2007 (the “Existing Credit Agreement”). Subject to the satisfaction of the conditions set forth in Section 3.01 hereof, the parties hereto agree to amend and restate the
Existing Credit Agreement as herein set forth. 
 ARTICLE I 

DEFINITIONS AND ACCOUNTING TERMS 
 SECTION 1.01. Certain Defined Terms. 
 As used in this Agreement, the
following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined): 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Agent. 

“Advance” means a Revolving Credit Advance or a Competitive Bid Advance. 

“Affiliate” means, as to any Person, any other Person that, directly or indirectly, controls, is
controlled by or is under common control with such Person. For purposes of this definition, the term “control” (including the terms “controlling”, “controlled by” and “under common control with”) of a Person
means the possession, direct or indirect, of the power to vote 10% or more of the Voting Stock of such Person or to direct or cause the direction of the management and policies of such Person, whether through the ownership of Voting Stock, by
contract or otherwise. 
 “Agent’s Account” means (a) in the case of Advances
denominated in Dollars, the account of the Agent maintained by JPMCB at JPMorgan Chase Bank, N.A., 10 South Dearborn, 7th floor, Chicago, IL 60603, Account number: 9008113381C4086, Attention: Nanette Wilson, (b) in the case of Advances
denominated in any Foreign Currency, the account of the Agent designated in writing from time to time by the Agent to the Borrower and the Lenders for such purpose and (c) in any such case, such other account of the Agent as is designated in
writing from time to time by the Agent to the Borrower and the Lenders for such purpose. 
 “Agent
Parties” has the meaning specified in Section 8.02(d). 
 “Applicable Lending
Office” means, with respect to each Lender, such Lender’s Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurocurrency Lending Office in the case of a Eurocurrency Rate Advance and, in the case of a
Competitive Bid Advance, the office of such 

 
Lender notified by such Lender to the Agent and the Borrower as its Applicable Lending Office with respect to such Competitive Bid Advance. 

“Applicable Margin” means, as of any date, a percentage per annum determined by reference to the Public
Debt Rating in effect on such date as set forth below: 
  

									
	 Public Debt Rating
 S&P/Moody’s/Fitch
	  	Applicable Margin 
for
Eurocurrency Rate Advances	 	 	Base Rate Advances	 
	 Level 1

A+ / A1 / A+ or above
	  	 	0.680	% 	 	 	0	% 
	 Level 2

A / A2 / A
	  	 	0.795	% 	 	 	0	% 
	 Level 3

A- / A3 / A-
	  	 	0.900	% 	 	 	0	% 
	 Level 4

BBB+ / Baa1 / BBB+
	  	 	1.000	% 	 	 	0	% 
	 Level 5

Lower than Level 4
	  	 	1.100	% 	 	 	0	% 

 “Applicable Percentage” means, as of any date, a percentage per annum
determined by reference to the Public Debt Rating in effect on such date as set forth below: 
  

					
	 Public Debt Rating
 S&P/Moody’s/Fitch
	  	Applicable Percentage	 
	 Level 1

A+ / A1 / A+ or above
	  	 	0.070	% 
	 Level 2

A / A2 / A
	  	 	0.080	% 
	 Level 3

A- / A3 / A-
	  	 	0.100	% 
	 Level 4

BBB+ / Baa1 / BBB+
	  	 	0.125	% 
	 Level 5

Lower than Level 4
	  	 	0.150	% 

 “Approved Fund” means any Fund that is administered or managed by (a) a Lender,
(b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee, and accepted by the Agent, in substantially the form of Exhibit C
hereto. 
 “Assuming Lender” has the meaning specified in Section 2.18(d). 

“Assumption Agreement” has the meaning specified in Section 2.18(d). 

“Base Rate” means, for any day, a rate per annum (rounded upwards, if necessary, to
the next highest 1/100th of 1%) equal to the greatest of:

 (a) the Prime Rate in effect on such day; 

(b) the Federal Funds Effective Rate in effect on such day plus  1/2 of 1%; and 

  
 2 

 (c) the British Bankers Association Interest Settlement Rate applicable to
Dollars for a period of one month (“One Month LIBOR”) plus 1.00% (for the avoidance of doubt, the One Month LIBOR for any day shall be based on the rate appearing on Reuters LIBOR01 (or other commercially available source providing such
quotations as designated by the Agent from time to time) at approximately 11:00 a.m. London time on such day). 
 Any change in
the Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or One Month LIBOR shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or One Month LIBOR,
respectively. 
 “Base Rate Advance” means a Revolving Credit Advance denominated in Dollars
that bears interest as provided in Section 2.07(a)(i). 
 “Borrowing” means a Revolving
Credit Borrowing or a Competitive Bid Borrowing. 
 “Business Day” means a day of the year on
which banks are not required or authorized by law to close in New York City and, if the applicable Business Day relates to any Eurocurrency Rate Advances or LIBO Rate Advances, on which dealings are carried on in the London interbank market and
banks are open for business in London and in the country of issue of the currency of such Eurocurrency Rate Advance or LIBO Rate Advance (or, in the case of an Advance denominated in Euro, on which the Trans-European Automated Real-Time Gross
Settlement Express Transfer (TARGET) System is open) and, if the applicable Business Day relates to any Local Rate Advances on which banks are open for business in the country of issue of the currency of such Local Rate Advance. 

“Change in Law” means the occurrence, after the date of this Agreement (or, in the case of any Lender
that becomes a Lender after the date of this Agreement, the occurrence after the date such Lender becomes a Lender), of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any
law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the
force of law) by any Governmental Authority. 
 “Commitment” means as to any Lender (a) the
Dollar amount set forth opposite such Lender’s name on Schedule I hereto, (b) if such Lender has become a Lender hereunder pursuant to an Assumption Agreement, the Dollar amount set forth in such Assumption Agreement or (c) if such
Lender has entered into any Assignment and Assumption, the Dollar amount set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.05 or increased
pursuant to Section 2.18. 
 “Commitment Date” has the meaning specified in
Section 2.18(b). 
 “Commitment Extension” means an extension of the Termination Date
pursuant to Section 2.19. 
 “Commitment Increase” has the meaning specified in
Section 2.18(a). 
 “Committed Currencies” means lawful currency of the United Kingdom of
Great Britain and Northern Ireland, lawful currency of The Swiss Federation, lawful currency of Canada, lawful currency of Australia, lawful currency of Japan, and the lawful currency of the European Economic and Monetary Union. 

“Communications” has the meaning specified in Section 8.02(d)(ii). 

  
 3 

 “Competitive Bid Advance” means an advance by a Lender to
the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.03 and refers to a Fixed Rate Advance, a LIBO Rate Advance or a Local Rate Advance. 

“Competitive Bid Borrowing” means a borrowing consisting of simultaneous Competitive Bid Advances from
each of the Lenders whose offer to make one or more Competitive Bid Advances as part of such borrowing has been accepted under the competitive bidding procedure described in Section 2.03. 

“Competitive Bid Note” means a promissory note of the Borrower payable to the order of any Lender, in
substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender. 

“Competitive Bid Reduction” has the meaning specified in Section 2.01. 

“Consenting Lender” has the meaning specified in Section 2.19(b). 

“Consolidated” refers to the consolidation of accounts in accordance with GAAP. 

“Convert”, “Conversion” and “Converted” each refers to a conversion of
Revolving Credit Advances of one Type into Revolving Credit Advances of the other Type pursuant to Section 2.08 or 2.09. 
 “Debt” of any Person means, without duplication, (a) all indebtedness of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase price of
property or services (other than (i) trade and similar accounts payables that do not constitute “Debt” under any other clause in this definition, (ii) accrued expenses arising in the ordinary course of business, employee
compensation and pension obligations and other obligations arising from employee benefit agreements and programs, (iii) earn-outs and holdbacks and (iv) customer advances), (c) all obligations of such Person evidenced by notes, bonds,
debentures or other similar instruments, (d) all obligations of such Person created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies
of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all obligations of such Person as lessee under leases that have been or should be, in accordance with GAAP, recorded
as capital leases, (f) all reimbursement obligations, contingent or otherwise, of such Person in respect of acceptances, letters of credit (other than trade letters of credit) or similar extensions of credit, (g) all net obligations of
such Person in respect of Hedge Agreements, (h) all Debt of others referred to in clauses (a) through (g) above or clause (i) below guaranteed directly or indirectly in any manner by such Person, or in effect guaranteed directly
or indirectly by such Person through an agreement (1) to pay or purchase such Debt or to advance or supply funds for the payment or purchase of such Debt, (2) to purchase, sell or lease (as lessee or lessor) property, or to purchase or
sell services, primarily for the purpose of enabling the debtor to make payment of such Debt or to assure the holder of such Debt against loss, (3) to supply funds to or in any other manner invest in the debtor (including any agreement to pay
for property or services irrespective of whether such property is received or such services are rendered) or (4) otherwise to assure a creditor against loss, provided that, if the guaranty or other agreement provides for limited recourse
to such Person for such Debt, it shall be taken into account only to the extent of such recourse, and (i) all Debt referred to in clauses (a) through (h) above secured by (or for which the holder of such Debt has an existing right,
contingent or otherwise, to be secured by) any Lien on property (including, without limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such Debt,
provided that, if such Person has not assumed or become liable for the payment of such Debt, it shall be taken into account only to the extent of the lesser of the outstanding amount of such Debt and the book value or fair market value,
whichever is greater, of the property subject to such Lien; provided, further, however, that the term “Debt” shall not include (x) obligations incurred in connection with a Permitted Receivables Financing,
(y) defeased indebtedness or (z) reimbursement obligations, contingent or otherwise, in respect of letters of credit (other than trade letters of credit) except to the extent such obligations exceed $25,000,000 in the aggregate.

  
 4 

 “Debtor Relief Laws” means the Bankruptcy Code of the
United States of America, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or
other applicable jurisdiction from time to time in effect. 
 “Default” means any Event of
Default or any event that would constitute an Event of Default but for the requirement that notice be given or time elapse or both. 
 “Defaulting Lender” means, subject to Section 2.20(b), any Lender that (a) has failed to (i) fund all or any portion of its Advances within two Business Days of the date
such Advances were required to be funded hereunder unless such Lender notifies the Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which
conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Agent or any other Lender any other amount required to be paid by it hereunder within two
Business Days of the date when due, (b) has notified the Borrower or the Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public
statement relates to such Lender’s obligation to fund an Advance hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable
default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has made a public statement to the effect that it does not intend to comply with its funding obligations generally under other agreements
in which it commits to extend credit, (d) has failed, within three Business Days after written request by the Agent or the Borrower, to confirm in writing to the Agent and the Borrower that it will comply with its prospective funding
obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (d) upon receipt of such written confirmation by the Agent and the Borrower), or (e) has, or has a direct or indirect parent
company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged
with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting
Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender
with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any
contracts or agreements made with such Lender. Any determination by the Agent that a Lender is or is not a Defaulting Lender under any one or more of clauses (a) through (e) above shall be conclusive and binding absent demonstrable error,
and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.20(b)) upon delivery of written notice of such determination to the Borrower and each Lender. 

“Disclosed Litigation” has the meaning specified in Section 3.01(b). 

“Disregarded Entity” means an entity that, pursuant to Treas. Reg. § 301.7701-2(c)(2), is
disregarded for U.S. federal income tax purposes as an entity separate from its owner. 

“Dollars” and the “$” sign each means lawful currency of the United States of America.

 “Domestic Lending Office” means, with respect to any Lender, the office of such Lender
specified as its “Domestic Lending Office” in its Administrative Questionnaire delivered to the Agent, or such other office of such Lender as such Lender may from time to time specify to the Borrower and the Agent. 

“EBITDA” means, for any period of four consecutive fiscal quarters, net income (or net loss) plus the sum
of (a) interest expense, (b) taxes on or measured by income (including franchise taxes imposed in lieu of income taxes), (c) depreciation expense, (d) amortization expense, (e) all non-cash losses, expenses

  
 5 

 
and charges, and (f) all extraordinary, non-recurring or unusual cash losses up to an aggregate amount of $50,000,000 per four consecutive fiscal quarters, minus all extraordinary,
non-recurring or unusual non-cash gains, all determined in accordance with GAAP for such period. For the purposes of calculating EBITDA for any period, if during such period the Borrower or any Subsidiary shall have made an acquisition or a
disposition, EBITDA for such period shall be calculated after giving pro forma effect thereto as if such acquisition or disposition occurred on the first day of such period. 

“Effective Date” has the meaning specified in Section 3.01. 

“Eligible Assignee” means any Person that meets the requirements to be an assignee under
Section 8.07(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required under Section 8.07(b)(iii)). 
 “Environmental Action” means any action, suit, demand, demand letter, claim, notice of non-compliance or violation, notice of liability or potential liability, investigation, proceeding,
consent order or consent agreement relating in any way to any Environmental Law, Environmental Permit or Hazardous Materials or arising from alleged injury or threat of injury to health or safety with respect to the environment or the environment,
including, without limitation, (a) by any governmental or regulatory authority for enforcement, cleanup, removal, response, remedial or other actions or damages and (b) by any governmental or regulatory authority or any third party for
damages, contribution, indemnification, cost recovery, compensation or injunctive relief. 

“Environmental Law” means any federal, state, local or foreign statute, law, ordinance, rule, regulation,
code, order, judgment, decree or judicial or agency interpretation, policy or guidance relating to pollution or protection of the environment, health or safety with respect to the environment or natural resources, including, without limitation,
those relating to the use, handling, transportation, treatment, storage, disposal, release or discharge of Hazardous Materials. 
 “Environmental Permit” means any permit, approval, identification number, license or other authorization required under any Environmental Law. 

“EMU Legislation” means the legislative measures of the European Council for the introduction of,
changeover to or operation of a single or unified European currency. 
 “Equivalent” in Dollars
of any Foreign Currency on any date means the equivalent in Dollars of such Foreign Currency determined by using the quoted spot rate at which the Agent’s principal office in London offers to exchange Dollars for such Foreign Currency in London
prior to 4:00 P.M. (London time) (unless otherwise indicated by the terms of this Agreement) on such date as is required pursuant to the terms of this Agreement, and the “Equivalent” in any Foreign Currency of Dollars means the equivalent
in such Foreign Currency of Dollars determined by using the quoted spot rate at which the Agent’s principal office in London offers to exchange such Foreign Currency for Dollars in London prior to 4:00 P.M. (London time) (unless otherwise
indicated by the terms of this Agreement) on such date as is required pursuant to the terms of this Agreement. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the
regulations promulgated and rulings issued thereunder. 
 “ERISA Affiliate” means any Person
that for purposes of Title IV of ERISA is a member of the Borrower’s controlled group, or under common control with the Borrower, within the meaning of Section 414 of the Internal Revenue Code. 

“ERISA Event” means (a) (i) the occurrence of a reportable event, within the meaning of
Section 4043 of ERISA, with respect to any Plan unless the 30-day notice requirement with respect to such event has been waived by the PBGC, or (ii) the requirements of subsection (1) of Section 4043(b) of ERISA (without regard
to subsection (2) of such Section) are met with a contributing sponsor, as defined in 

  
 6 

 
Section 4001(a)(13) of ERISA, of a Plan, and an event described in paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably expected to occur
with respect to such Plan within the following 30 days; (b) the application for a minimum funding waiver with respect to a Plan; (c) the provision by the administrator of any Plan of a notice of intent to terminate such Plan pursuant to
Section 4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to in Section 4041(e) of ERISA); (d) the cessation of operations at a facility of the Borrower or any ERISA Affiliate in the
circumstances described in Section 4062(e) of ERISA; (e) the withdrawal by the Borrower or any ERISA Affiliate from a Multiple Employer Plan during a plan year for which it was a substantial employer, as defined in Section 4001(a)(2)
of ERISA; (f) the conditions for the imposition of a lien under Section 303(k) of ERISA shall have been met with respect to any Plan; (g) a determination is made that any Plan is in “at risk” status (within the meaning of
Section 303 of ERISA); or (h) the institution by the PBGC of proceedings to terminate a Plan pursuant to Section 4042 of ERISA, or the occurrence of any event or condition described in Section 4042 of ERISA that constitutes
grounds for the termination of, or the appointment of a trustee to administer, a Plan. 
 “Euro”
means the lawful currency of the European Union as constituted by the Treaty of Rome which established the European Community, as such treaty may be amended from time to time and as referred to in the EMU Legislation. 

“Eurocurrency Lending Office” means, with respect to any Lender, the office of such Lender specified as
its “Eurocurrency Lending Office” in its Administrative Questionnaire delivered to the Agent, or such other office of such Lender as such Lender may from time to time specify to the Borrower and the Agent. 

“Eurocurrency Liabilities” has the meaning assigned to that term in Regulation D of the Board of
Governors of the Federal Reserve System, as in effect from time to time. 
 “Eurocurrency Rate”
means, for any Interest Period for each Eurocurrency Rate Advance comprising part of the same Revolving Credit Borrowing, an interest rate per annum equal to the rate per annum obtained by dividing (a) the rate per annum (rounded upward to the
nearest whole multiple of 1/100 of 1% per annum) appearing on Reuters LIBOR01 Page (or any successor page) as the London interbank offered rate for deposits in Dollars or the applicable Committed Currency at approximately 11:00 A.M. (London
time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period or, if for any reason such rate is not available, the average (rounded upward to the nearest whole multiple of 1/100 of
1% per annum, if such average is not such a multiple) of the rate per annum at which deposits in Dollars or the applicable Committed Currency is offered by the principal office of JPMCB in London, England to prime banks in the London interbank
market at 11:00 A.M. (London time) two Business Days before the first day of such Interest Period in an amount substantially equal to JPMCB’s Eurocurrency Rate Advance comprising part of such Revolving Credit Borrowing to be outstanding
during such Interest Period and for a period equal to such Interest Period by (b) a percentage equal to 100% minus the Eurocurrency Rate Reserve Percentage for such Interest Period. If the Reuters LIBOR01 Page (or any successor page) is
unavailable, the Eurocurrency Rate for any Interest Period for each Eurocurrency Rate Advance comprising part of the same Revolving Credit Borrowing shall be determined by the Agent on the basis of applicable rates. 

“Eurocurrency Rate Advance” means a Revolving Credit Advance denominated in Dollars or a Committed
Currency that bears interest as provided in Section 2.07(a)(ii). 
 “Eurocurrency Rate Reserve
Percentage” for any Interest Period for all Eurocurrency Rate Advances or LIBO Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under
regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve
requirement) for a member bank of the Federal Reserve System in New York City with 

  
 7 

 
respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the
interest rate on Eurocurrency Rate Advances or LIBO Rate Advances is determined) having a term equal to such Interest Period. 
 “Events of Default” has the meaning specified in Section 6.01. 
 “Existing Credit Agreement” has the meaning specified in the preliminary statement to this Agreement. 

“Extension Date” has the meaning specified in Section 2.19(b). 

“FATCA” means Sections 1471 through 1474 of the Internal Revenue Code, as of the date of this Agreement
(or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof. 

“Federal Funds Effective Rate” means, for any period, a fluctuating interest rate per annum equal for
each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day,
for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions received by the Agent from
three Federal funds brokers of recognized standing selected by it. 
 “Fitch” means Fitch, Inc.

 “Fixed Rate Advances” has the meaning specified in Section 2.03(a)(i), which Advances
shall be denominated in Dollars or in any Foreign Currency. 
 “Foreign Currency” means any
Committed Currency and any other lawful currency (other than Dollars) that is freely transferable or convertible into Dollars. 
 “Fund” means any Person (other than a natural Person) that is or will be engaged in the making, purchasing, holding or otherwise investing in commercial loans and similar extensions of
credit in the ordinary course of its activities. 
 “GAAP” has the meaning specified in
Section 1.03. 
 “Governmental Authority” means the government of the United States of
America or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing,
regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Hazardous Materials” means (a) petroleum and petroleum products, byproducts or breakdown products,
radioactive materials, asbestos-containing materials, polychlorinated biphenyls and radon gas and (b) any other chemicals, materials or substances designated, classified or regulated as hazardous or toxic or as a pollutant or contaminant under
any Environmental Law. 
 “Hedge Agreements” means interest rate swap, cap or collar agreements,
interest rate future or option contracts, currency swap agreements, currency future or option contracts and other similar agreements. 
 “Increase Date” has the meaning specified in Section 2.18(a). 

  
 8 

 “Increasing Lender” has the meaning specified in
Section 2.18(b). 
 “Indemnified Costs” has the meaning specified in Section 7.05.

 “Indemnified Party” has the meaning specified in Section 8.04(b). 

“Information” has the meaning specified in Section 8.08. 

“Information Memorandum” means the information memorandum dated October 2011 used by the Agent and the
Lead Arrangers in connection with the syndication of the Commitments. 
 “Interest Period”
means, for each Eurocurrency Rate Advance comprising part of the same Revolving Credit Borrowing and each LIBO Rate Advance comprising part of the same Competitive Bid Borrowing, the period commencing on the date of such Eurocurrency Rate Advance or
LIBO Rate Advance or the date of the Conversion of any Base Rate Advance into such Eurocurrency Rate Advance and ending on the last day of the period selected by the Borrower pursuant to the provisions below and, thereafter, with respect to
Eurocurrency Rate Advances, each subsequent period commencing on the last day of the immediately preceding Interest Period and ending on the last day of the period selected by the Borrower pursuant to the provisions below. The duration of each such
Interest Period shall be one, two, three or six months, and subject to clause (c) of this definition, nine months or such other period requested by the Borrower, as the Borrower may, upon notice received by the Agent not later than 12:00 P.M.
(New York City time) on the third Business Day prior to the first day of such Interest Period, select; provided, however, that: 
 (a) the Borrower may not select any Interest Period that ends after the final Termination Date; 
 (b) Interest Periods commencing on the same date for Eurocurrency Rate Advances comprising part of the same Revolving Credit Borrowing or for LIBO Rate Advances comprising part of the same Competitive Bid
Borrowing shall be of the same duration; 
 (c) in the case of any such Revolving Credit Borrowing, the Borrower
shall not be entitled to select an Interest Period having a duration of other than one, two, three or six months unless, by 3:00 P.M. (New York City time) on the third Business Day prior to the first day of such Interest Period, each Lender notifies
the Agent that such Lender will be providing funding for such Revolving Credit Borrowing with such Interest Period (the failure of any Lender to so respond by such time being deemed for all purposes of this Agreement as an objection by such Lender
to the requested duration of such Interest Period); provided that, if any or all of the Lenders object to the requested duration of such Interest Period, the duration of the Interest Period for such Revolving Credit Borrowing shall be one,
two, three or six months, as specified by the Borrower requesting such Revolving Credit Borrowing in the applicable Notice of Revolving Credit Borrowing as the desired alternative to such requested Interest Period; 

(d) whenever the last day of any Interest Period would otherwise occur on a day other than a Business Day, the last day of
such Interest Period shall be extended to occur on the next succeeding Business Day, provided, however, that, if such extension would cause the last day of such Interest Period to occur in the next following calendar month, the last
day of such Interest Period shall occur on the next preceding Business Day; and 
 (e) whenever the first day of
any Interest Period occurs on a day of an initial calendar month for which there is no numerically corresponding day in the calendar month that succeeds such initial calendar month by the number of months equal to the number of months in such
Interest Period, such Interest Period shall end on the last Business Day of such succeeding calendar month. 

  
 9 

 “Internal Revenue Code” means the Internal Revenue Code of
1986, as amended from time to time, and the regulations promulgated and rulings issued thereunder. 

“IRS” means the United States Internal Revenue Service. 

“Lenders” means the Initial Lenders, each Assuming Lender that shall become a party hereto pursuant to
Section 2.18, 2.19 or 2.21 and each Person that shall become a party hereto pursuant to Section 8.07 (excluding, in each case, any Person that ceases to be a Lender in accordance with the terms of this Agreement). 

“LIBO Rate” means, for any Interest Period for all LIBO Rate Advances comprising part of the same
Competitive Bid Borrowing, an interest rate per annum equal to the rate per annum obtained by dividing (a) the rate per annum (rounded upward to the nearest whole multiple of 1/100 of 1% per annum) appearing on the Reuters LIBOR01 Page (or
any successor page) as the London interbank offered rate for deposits in Dollars or the applicable Committed Currency at approximately 11:00 A.M. (London time) two Business Days prior to the first day of such Interest Period for a term comparable to
such Interest Period or, if for any reason such rate is not available, the average (rounded upward to the nearest whole multiple of 1/100 of 1% per annum, if such average is not such a multiple) of the rate per annum at which deposits in
Dollars or the applicable Foreign Currency is offered by the principal office of JPMCB in London, England to prime banks in the London interbank market at 11:00 A.M. (London time) two Business Days before the first day of such Interest Period
in an amount substantially equal to the amount that would be JPMCB’s respective ratable shares of such Borrowing if such Borrowing were to be a Revolving Credit Borrowing to be outstanding during such Interest Period and for a period equal to
such Interest Period by (b) a percentage equal to 100% minus the Eurocurrency Rate Reserve Percentage for such Interest Period. If the Reuters LIBOR01 Page (or any successor page) is unavailable, the LIBO Rate for any Interest Period for each
LIBO Rate Advance comprising part of the same Competitive Bid Borrowing shall be determined by the Agent on the basis of applicable rates. 
 “LIBO Rate Advances” means a Competitive Bid Advance denominated in Dollars or in any Foreign Currency and bearing interest based on the LIBO Rate. 

“Lien” means any lien, security interest or other charge or encumbrance of any kind, or any other type of
similar preferential arrangement, including, without limitation, the lien or retained security title of a conditional vendor (excluding operating leases) and any easement, right of way or other encumbrance on title to real property. 

“Loan Documents” means this Agreement and the Notes, if any. 

“Local Rate Advance” means a Competitive Bid Advance denominated in any Foreign Currency sourced from the
jurisdiction of issuance of such Foreign Currency and bearing interest at a fixed rate. 
 “Mandatory
Cost” means, with respect to any period, the percentage rate per annum determined in accordance with Schedule 1.01. 
 “Material Adverse Change” means any material adverse change in the business, condition (financial or otherwise), operations, performance or properties of the Borrower or the Borrower and
its Subsidiaries taken as a whole. 
 “Material Adverse Effect” means a material adverse effect
on (a) the business, condition (financial or otherwise), operations, performance or properties of the Borrower and its Subsidiaries taken as a whole, (b) the rights and remedies of the Agent or any Lender against the Borrower under this
Agreement or any Note or (c) the ability of the Borrower to perform its obligations under this Agreement or any Note. 

  
 10 

 “Material Subsidiary” means any Subsidiary of the Borrower
having, as of the end of the Borrower’s most recently completed fiscal year, (a) assets (after elimination of intercompany assets) with a book value of not less than 10% of the total book value of the assets of the Borrower and its
Subsidiaries, taken as a whole, or (b) gross revenue (after elimination of intercompany revenues) of not less than 10% of the total (gross) revenue of the Borrower and its Subsidiaries, taken as a whole. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which
the Borrower or any ERISA Affiliate is making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or accrued an obligation to make contributions. 

“Multiple Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of ERISA,
that (a) is maintained for employees of the Borrower or any ERISA Affiliate and at least one Person other than the Borrower and the ERISA Affiliates or (b) was so maintained and in respect of which the Borrower or any ERISA Affiliate could
have liability under Section 4064 or 4069 of ERISA in the event such plan has been or were to be terminated. 
 “Non-Consenting Lender” has the meaning specified in Section 2.19(b). 
 “Non-Defaulting Lender” means, at any time, a Lender that is not a Defaulting Lender at such time. 
 “Non-U.S. Lender” means (i) a Lender that is neither a Disregarded Entity nor a U.S. Person, and (ii) a Lender that is a Disregarded Entity and that is treated for U.S. federal
income tax purposes as having as its sole member a Person that is not a U.S. Person. 
 “Note”
means a Revolving Credit Note or a Competitive Bid Note. 
 “Notice of Competitive Bid
Borrowing” has the meaning specified in Section 2.03(a). 
 “Notice of Revolving Credit
Borrowing” has the meaning specified in Section 2.02(a). 
 “One Month LIBOR” has
the meaning specified in the definition of “Base Rate”. 
 “Other Taxes” has the
meaning specified in Section 2.14(c). 
 “Participant” has the meaning assigned to such
term in Section 8.07(d). 
 “Participating Member State” means each state so described in
any EMU Legislation. 
 “Participation Register” has the meaning specified in
Section 8.07(c). 
 “Payment Office” means, for any Foreign Currency, such office of JPMCB
as shall be from time to time selected by the Agent and notified by the Agent to the Borrower and the Lenders. 

“PBGC” means the Pension Benefit Guaranty Corporation (or any successor). 

“Permitted Liens” means such of the following as to which no enforcement, collection, execution, levy or
foreclosure proceeding shall have been commenced: (a) Liens for taxes, assessments and governmental charges or levies if the same shall not be delinquent for more than 60 days or thereafter can be paid without penalty, or are being contested in
good faith and by appropriate action and for which appropriate reserves are being maintained; (b) Liens imposed by law, such as materialmen’s, mechanics’, carriers’, landlord’s, workmen’s and repairmen’s Liens and
other similar Liens arising in the ordinary 

  
 11 

 
course of business securing obligations that are either (i) not overdue for a period of more than 90 days or (ii) are being contested in good faith and by appropriate action and as to
which appropriate reserves are being maintained; (c) Liens to secure obligations under workers’ compensation laws, unemployment insurance, old age pensions, or other social security or retirement benefits, or similar legislation or to
secure public or statutory obligations; and (d) easements, restrictions, rights of way, minor defects or irregularities in title and other encumbrances on title to real property that do not render title to the property encumbered thereby
unmarketable or materially adversely affect the use of such property for its present purposes. 

“Permitted Receivables Financing” means any financing pursuant to which the Borrower or any Subsidiary or
Subsidiaries of the Borrower may sell, convey or otherwise transfer to a Receivables Subsidiary or any other Person, or grant a security interest in, any accounts receivable, general intangibles, chattel paper or other financial assets (and related
rights and assets) of the Borrower or such Subsidiary or Subsidiaries, provided that such financing shall be with limited or no recourse to the Borrower and its Subsidiaries (other than the Receivables Subsidiary) except to the extent
customary (in the reasonable judgment of the Borrower) for such transactions. 
 “Person” means
an individual, partnership, corporation (including a business trust), joint stock company, trust, unincorporated association, joint venture, limited liability company or other entity, or a government or any political subdivision or agency thereof.

 “Plan” means a Single Employer Plan or a Multiple Employer Plan. 

“Platform” has the meaning specified in Section 8.02(d). 

“Prime Rate” means the rate of interest announced publicly by JPMCB in New York, New York, from
time to time, as JPMCB’s prime rate. 
 “Primary Currency” has the meaning specified in
Section 8.11(c). 
 “Public Debt Rating” means, as of any date, the rating that has been
most recently announced by S&P, Moody’s or Fitch, as the case may be, for any class of non-credit enhanced long-term senior unsecured debt issued by the Borrower (or if no such rating is then in effect with respect to such debt, then the
corporate, issuer or similar rating with respect to the Borrower that has been most recently announced by S&P, Moody’s or Fitch, as the case may be) or, if any such rating agency shall have issued more than one such rating, the lowest such
rating issued by such rating agency. For purposes of the foregoing, (a) if only one of S&P, Moody’s or Fitch shall have in effect a Public Debt Rating, the Applicable Margin and the Applicable Percentage shall be determined by
reference to the available rating; (b) if none of S&P, Moody’s or Fitch shall have in effect a Public Debt Rating, the Applicable Margin and the Applicable Percentage will be set in accordance with Level 5 under the definition of
“Applicable Margin”, or “Applicable Percentage”, as the case may be; (c) if the Borrower is rated by all three rating agencies and the ratings established by each of S&P, Moody’s and Fitch shall fall within three
different levels, the Applicable Margin and the Applicable Percentage shall be based upon the intermediate level; (d) if the Borrower is rated by all three rating agencies and two out of the three ratings of S&P, Moody’s and Fitch are
at the same level, then the Applicable Margin and the Applicable Percentage shall be based on such level, (e) if only two ratings from S&P, Moody’s and Fitch are available and such ratings fall within different levels, then the
Applicable Margin and the Applicable Percentage shall be based on the higher rating unless such ratings differ by two or more levels, in which case the applicable rating level will be deemed to be one level below the higher of such levels,
(f) if any rating established by S&P, Moody’s or Fitch shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; (g) if S&P,
Moody’s or Fitch shall change the basis on which ratings are established, each reference to the Public Debt Rating announced by S&P, Moody’s or Fitch, as the case may be, shall refer to the then equivalent rating by S&P,
Moody’s or Fitch, as the case may be (and if there is no such equivalent rating, to the rating most recently in effect prior to such change), and (h) if any such rating agency shall cease to be in the business of rating corporate debt

  
 12 

 
obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect the unavailability of ratings from such rating agency and, pending the effectiveness of
such amendment, the Applicable Margin and Applicable Percentage shall be determined by reference to the rating most recently in effect prior to such cessation. 
 “Ratable Share” of any amount means, with respect to any Lender at any time, the product of such amount times a fraction the numerator of which is the amount of such Lender’s
Commitment at such time (or, if the Commitments shall have been terminated pursuant to Section 2.05 or 6.01, such Lender’s Commitment as in effect immediately prior to such termination) and the denominator of which is the aggregate amount
of all Commitments at such time (or, if the Commitments shall have been terminated pursuant to Section 2.05 or 6.01, the aggregate amount of all Commitments as in effect immediately prior to such termination). 

“Receivables Subsidiary” means a bankruptcy remote, special purpose wholly owned Subsidiary of the
Borrower (or another wholly-owned Subsidiary of the Borrower) formed in connection with a Permitted Receivables Financing. 
 “Register” has the meaning specified in Section 8.07(c). 
 “Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors
and representatives of such Person and of such Person’s Affiliates. 
 “Related Person”
means each of the following: (a) the Borrower, (b) any Subsidiary of the Borrower or (c) any employee benefit plan of the Borrower or of any Subsidiary of the Borrower or any Person organized, appointed or established by the Borrower
for or pursuant to the terms of any such plan. 
 “Required Lenders” means at any time Lenders
owed at least a majority in interest of the then aggregate unpaid principal amount (based on the Equivalent in Dollars at such time) of the Revolving Credit Advances owing to the Lenders, or, if no such principal amount is then outstanding, Lenders
having at least a majority in interest of the Commitments; provided that if any Lender shall be a Defaulting Lender at such time, there shall be excluded from the determination of Required Lenders at such time the Commitments or the aggregate
principal amount of the Revolving Credit Advances, as applicable, of such Lender at such time. 

“Removal Effective Date” has the meaning specified in Section 7.07(b). 

“Resignation Effective Date” has the meaning specified in Section 7.07(a). 

“Revolving Credit Advance” means an advance by a Lender to the Borrower as part of a Revolving Credit
Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance (each of which shall be a “Type” of Revolving Credit Advance). 
 “Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving Credit Advances of the same Type made by each of the Lenders pursuant to Section 2.01. 

“Revolving Credit Note” means a promissory note of the Borrower payable to the order of any Lender,
delivered pursuant to a request made under Section 2.16 in substantially the form of Exhibit A-1 hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the Revolving Credit Advances made by such Lender.

 “S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies,
Inc. 

  
 13 

 “Single Employer Plan” means a single employer plan, as
defined in Section 4001(a)(15) of ERISA, that (a) is maintained for employees of the Borrower or any ERISA Affiliate and no Person other than the Borrower and the ERISA Affiliates or (b) was so maintained and in respect of which the
Borrower or any ERISA Affiliate could have liability under Section 4069 of ERISA in the event such plan has been or were to be terminated. 
 “Subsidiary” of any Person means any corporation, partnership, joint venture, limited liability company, trust or estate of which (or in which) more than 50% of (a) the issued and
outstanding capital stock having ordinary voting power to elect a majority of the Board of Directors of such corporation (irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have voting
power upon the occurrence of any contingency), (b) the interest in the capital or profits of such limited liability company, partnership or joint venture or (c) the beneficial interest in such trust or estate is at the time directly or
indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other Subsidiaries. 

“Taxes” has the meaning specified in Section 2.14(a). 

“Termination Date” means the earlier of (a) December 8, 2016, subject to the extension thereof
pursuant to Section 2.19 and (b) the date of termination in whole of the Commitments pursuant to Section 2.05 or 6.01; provided, however, that the Termination Date of any Lender that is a Non-Consenting Lender to any
requested extension pursuant to Section 2.19 shall be the Termination Date in effect immediately prior to the applicable Extension Date for all purposes of this Agreement. 

“U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30) of
the Internal Revenue Code. 
 “Voting Stock” means capital stock issued by a corporation, or
equivalent interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to vote has
been suspended by the happening of such a contingency. 
 SECTION 1.02. Computation of Time Periods. In this Agreement in
the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each mean “to but excluding”. 

SECTION 1.03. Accounting Terms. Except as provided to the contrary herein, all accounting terms used herein shall be interpreted
and all accounting determinations hereunder shall be made in accordance with generally accepted accounting principles (“GAAP”); provided that for purposes of determining compliance with any covenant (including the financial
covenants set forth in Section 5.03, but excluding any covenant regarding the delivery or preparation of financial statements), whether a lease constitutes a capital lease, and whether obligations arising under such lease are required to be
capitalized on the balance sheet of the lessee thereunder and/or recognized as interest expense in such lessee’s financial statements, shall be determined in accordance with GAAP as in effect on the date of this Agreement, notwithstanding any
modification or interpretive change thereto that may occur thereafter; provided further that any calculation or determination which is to be made on a consolidated basis shall be made for the Borrower and all of its Consolidated
Subsidiaries. 
 If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth
in any Loan Document, and the Borrower, the Agent or the Required Lenders shall so request, the Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of
such change in GAAP (subject to the approval of the Required Lenders), provided that, until so amended, such ratio or requirement shall continue to be computed in accordance with GAAP without giving effect to such change therein and the
Borrower shall provide to the Agent and the Lenders reconciliation statements showing the difference in such calculation, together with the delivery of any financial statements required hereunder. 

  
 14 

 SECTION 1.04. Interpretation. (a) Unless otherwise expressly provided herein,
(i) references to agreements (including this Agreement) and other contractual instruments shall be deemed to include all subsequent amendments and other modifications thereto, but only to the extent such amendments and other modifications are
not prohibited by the terms of any Loan Document, (ii) references to any statute or regulation are to be construed as including all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting the
statute or regulation and (iii) any reference herein or in any other Loan Document to any Person shall be construed to include such Person’s successors and assigns (subject to any restrictions upon assignment set forth herein or in any
other Loan Document). 
 (b) The captions and headings of this Agreement are for convenience of reference only and shall not
affect the interpretation of this Agreement. 
 SECTION 1.05. Additional Alternative Currencies. (a) The Borrower
may from time to time request that Eurocurrency Rate Advances be made in a currency other than those specifically listed in the definition of “Committed Currency;” provided that such requested currency is a lawful currency (other than
Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate Advances, such request shall be subject to the approval of the Agent and all of
the Lenders. 
 Any such request shall be made to the Agent not later than 12:00 P.M. (New York City time) 20 Business Days
prior to the date of the desired Advance (or such other time or date as may be agreed by the Agent in its sole discretion). In the case of any such request pertaining to Eurocurrency Rate Advances, the Agent shall promptly notify each Lender
thereof. Each Lender (in the case of any such request pertaining to Eurocurrency Rate Advances) shall notify the Agent, not later than 12:00 P.M. (New York City time) 10 Business Days after receipt of such request whether it consents, in its sole
discretion, to the making of Eurocurrency Rate Advances in such requested currency. 
 Any failure by a Lender to respond to
such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Lender to permit Eurocurrency Rate Advances to be made in such requested currency. If the Agent and all the Lenders consent to making
Eurocurrency Rate Advances in such requested currency, the Agent shall so notify the Borrower and such currency shall thereupon be deemed for all purposes to be a Committed Currency hereunder. If the Agent shall fail to obtain consent to any request
for an additional currency under this Section 1.05, the Agent shall promptly so notify the Borrower. 
 ARTICLE II

 AMOUNTS AND TERMS OF THE ADVANCES 
 SECTION 2.01. The Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit Advances to the Borrower from time to time on
any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an aggregate amount (based in respect of any Revolving Credit Advances to be denominated in a Committed Currency on the Equivalent in
Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed at any time outstanding such Lender’s Commitment, provided that the aggregate amount of the Commitments of the Lenders shall
be deemed used from time to time to the extent of the aggregate amount (based in respect of any Competitive Bid Advance denominated in a Foreign Currency on the Equivalent in Dollars at such time) of the Competitive Bid Advances then outstanding and
such deemed use of the aggregate amount of the Commitments shall be allocated among the Lenders ratably according to their respective Commitments (such deemed use of the aggregate amount of the Commitments being a “Competitive Bid
Reduction”). Each Revolving Credit Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof (or the Equivalent thereof in any Committed Currency determined on the date of delivery of
the applicable Notice of Revolving Credit Borrowing) and shall consist of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s
Commitment, the Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.10 and reborrow under this Section 2.01. 

  
 15 

 SECTION 2.02. Making the Revolving Credit Advances. (a) Each Revolving Credit
Borrowing shall be made on notice, given not later than (x) 12:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Revolving Credit Borrowing in the case of a Revolving Credit Borrowing consisting of
Eurocurrency Rate Advances denominated in Dollars, (y) 12:00 P.M. (London time) on the third Business Day prior to the date of the proposed Revolving Credit Borrowing in the case of a Revolving Credit Borrowing consisting of Eurocurrency Rate
Advances denominated in any Committed Currency, or (z) 12:00 P.M. (New York City time) on the first Business Day prior to the date of the proposed Revolving Credit Borrowing in the case of a Revolving Credit Borrowing consisting of Base Rate
Advances, by the Borrower to the Agent, which shall give to each Lender prompt notice thereof by telecopier. Each such notice of a Revolving Credit Borrowing (a “Notice of Revolving Credit Borrowing”) shall be by telephone,
confirmed immediately in writing, or telecopier in substantially the form of Exhibit B-1 hereto, specifying therein the requested (i) date of such Revolving Credit Borrowing, (ii) Type of Advances comprising such Revolving Credit
Borrowing, (iii) aggregate amount of such Revolving Credit Borrowing, and (iv) in the case of a Revolving Credit Borrowing consisting of Eurocurrency Rate Advances, initial Interest Period and currency for each such Revolving Credit
Advance. Each Lender shall, before 11:00 A.M. (New York City time) on the date of such Revolving Credit Borrowing, in the case of a Revolving Credit Borrowing consisting of Advances denominated in Dollars, and before 11:00 A.M. (London time) on
the date of such Revolving Credit Borrowing, in the case of a Revolving Credit Borrowing consisting of Eurocurrency Rate Advances denominated in any Committed Currency, make available for the account of its Applicable Lending Office to the Agent at
the applicable Agent’s Account in same day funds, such Lender’s ratable portion of such Revolving Credit Borrowing. After the Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in
Article III, the Agent will make such funds available to the Borrower at the Agent’s address referred to in Section 8.02(a) or at the applicable Payment Office, as the case may be. 

(b) Anything in subsection (a) above to the contrary notwithstanding, (i) the Borrower may not select Eurocurrency Rate
Advances for any Revolving Credit Borrowing if the aggregate amount of such Revolving Credit Borrowing is less than $10,000,000 or if the obligation of the Lenders to make Eurocurrency Rate Advances shall then be suspended pursuant to
Section 2.08 or 2.12 and (ii) the Eurocurrency Rate Advances may not be outstanding as part of more than ten separate Revolving Credit Borrowings. 
 (c) Each Notice of Revolving Credit Borrowing shall be irrevocable and binding on the Borrower. In the case of any Revolving Credit Borrowing that the related Notice of Revolving Credit Borrowing
specifies is to be comprised of Eurocurrency Rate Advances, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in such Notice of
Revolving Credit Borrowing for such Revolving Credit Borrowing the applicable conditions set forth in Article III, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the
liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Revolving Credit Advance to be made by such Lender as part of such Revolving Credit Borrowing when such Revolving Credit Advance, as a result of such failure,
is not made on such date. 
 (d) Unless the Agent shall have received notice from a Lender prior to the date of any Revolving
Credit Borrowing that such Lender will not make available to the Agent such Lender’s ratable portion of such Revolving Credit Borrowing, the Agent may assume that such Lender has made such portion available to the Agent on the date of such
Revolving Credit Borrowing in accordance with subsection (a) of this Section 2.02 and the Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such
Lender shall not have so made such ratable portion available to the Agent, such Lender and the Borrower severally agree to repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date
such amount is made available to the Borrower until the date such amount is repaid to the Agent, at (i) in the case of the Borrower, the interest rate applicable at the time to Revolving Credit Advances comprising such Revolving Credit
Borrowing and (ii) in the case of such Lender, (A) the Federal Funds Effective Rate in the case of Advances denominated in Dollars or (B) the cost of funds incurred by the Agent in respect of such amount in the case of Advances
denominated in Committed Currencies. If such Lender shall repay to the Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Revolving Credit Advance as part of such Revolving Credit Borrowing for purposes of
this Agreement. 

  
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 (e) The failure of any Lender to make the Revolving Credit Advance to be made by it as part
of any Revolving Credit Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Revolving Credit Advance on the date of such Revolving Credit Borrowing, but no Lender shall be responsible for the failure of any
other Lender to make the Revolving Credit Advance to be made by such other Lender on the date of any Revolving Credit Borrowing. 
 SECTION 2.03. The Competitive Bid Advances. (a) Each Lender severally agrees that the Borrower may make Competitive Bid Borrowings under this Section 2.03 from time to time on any
Business Day during the period from the date hereof until the date occurring 30 days prior to the final Termination Date in the manner set forth below; provided that, following the making of each Competitive Bid Borrowing, the aggregate
amount of the Advances then outstanding (based in respect of any Advance denominated in a Foreign Currency on the Equivalent in Dollars at the time such Competitive Bid Borrowing is requested) shall not exceed the aggregate amount of the Commitments
of the Lenders (computed without regard to any Competitive Bid Reduction); provided further that following the making of each Competitive Bid Borrowing, the aggregate amount of the Advances then outstanding (based in respect of any Advance
denominated in a Foreign Currency on the Equivalent in Dollars at the time such Competitive Bid Borrowing is requested) shall not exceed the aggregate amount of one third of the Commitments of the Lenders (computed without regard to any Competitive
Bid Reduction). 
 (i) The Borrower may request a Competitive Bid Borrowing under this Section 2.03 by
delivering to the Agent, by telecopier, a notice of a Competitive Bid Borrowing (a “Notice of Competitive Bid Borrowing”), in substantially the form of Exhibit B-2 hereto, specifying therein the requested (A) date of such
proposed Competitive Bid Borrowing, (B) aggregate amount of such proposed Competitive Bid Borrowing, (C) interest rate basis and day count convention to be offered by the Lenders, (D) currency of such proposed Competitive Bid
Borrowing, (E) in the case of a Competitive Bid Borrowing consisting of LIBO Rate Advances, Interest Period, or in the case of a Competitive Bid Borrowing consisting of Fixed Rate Advances or Local Rate Advances, maturity date for repayment of
each Fixed Rate Advance or Local Rate Advance to be made as part of such Competitive Bid Borrowing (which maturity date may not be earlier than the date occurring seven days after the date of such Competitive Bid Borrowing or later than the earlier
of (I) 180 days after the date of such Competitive Bid Borrowing and (II) the final Termination Date), (F) interest payment date or dates relating thereto, (G) location of the Borrower’s account to which funds are to be
advanced and (H) other terms (if any) to be applicable to such Competitive Bid Borrowing, not later than (w) 12:00 P.M. (New York City time) at least two Business Days prior to the date of the proposed Competitive Bid Borrowing, if the
Borrower shall specify in the Notice of Competitive Bid Borrowing that the rates of interest to be offered by the Lenders shall be fixed rates per annum (the Advances comprising any such Competitive Bid Borrowing being referred to herein as
“Fixed Rate Advances”) and that the Advances comprising such proposed Competitive Bid Borrowing shall be denominated in Dollars, (x) 12:00 P.M. (New York City time) at least four Business Days prior to the date of the proposed
Competitive Bid Borrowing, if the Borrower shall specify in the Notice of Competitive Bid Borrowing that the Advances comprising such Competitive Bid Borrowing shall be LIBO Rate Advances denominated in Dollars, (y) 12:00 P.M. (London time) at
least two Business Days prior to the date of the proposed Competitive Bid Borrowing, if the Borrower shall specify in the Notice of Competitive Bid Borrowing that the Advances comprising such proposed Competitive Bid Borrowing shall be either Fixed
Rate Advances denominated in any Foreign Currency or Local Rate Advances denominated in any Foreign Currency and (z) 12:00 P.M. (London time) at least four Business Days prior to the date of the proposed Competitive Bid Borrowing, if the
Borrower shall instead specify in the Notice of Competitive Bid Borrowing that the Advances comprising such Competitive Bid Borrowing shall be LIBO Rate Advances denominated in any Foreign Currency. The Agent shall in turn promptly notify each
Lender of each request for a Competitive Bid Borrowing received by it from the Borrower by sending such Lender a copy of the related Notice of Competitive Bid Borrowing. 

(ii) Each Lender may, if, in its sole discretion, it elects to do so, irrevocably offer to make one or more Competitive
Bid Advances to the Borrower as part of such proposed Competitive Bid Borrowing at a rate or rates of interest specified by such Lender in its sole discretion, by notifying the Agent (which shall give prompt notice thereof to the Borrower),
(A) before 9:30 A.M. (New York City 

  
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time) on the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Fixed Rate Advances denominated in Dollars, (B) before 10:00 A.M. (New
York City time) three Business Days before the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of LIBO Rate Advances, denominated in Dollars, (C) before 12:00 noon (London time) on the
Business Day prior to the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of either Fixed Rate Advances denominated in any Foreign Currency or Local Rate Advances denominated in any Foreign
Currency and (D) before 12:00 noon (London time) on the third Business Day prior to the date of such proposed Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of LIBO Rate Advances denominated in any Foreign
Currency, of the minimum amount and maximum amount of each Competitive Bid Advance which such Lender would be willing to make as part of such proposed Competitive Bid Borrowing (which amounts or the Equivalent thereof in Dollars, as the case may be,
of such proposed Competitive Bid may, subject to the provisos to the first sentence of this Section 2.03(a), exceed such Lender’s Commitment, if any), the rate or rates of interest therefor and such Lender’s Applicable Lending Office
with respect to such Competitive Bid Advance; provided that if the Agent in its capacity as a Lender shall, in its sole discretion, elect to make any such offer, it shall notify the Borrower of such offer at least 30 minutes before the time
and on the date on which notice of such election is to be given to the Agent by the other Lenders. If any Lender shall elect not to make such an offer, such Lender shall so notify the Agent before 10:00 A.M. (New York City time) on the
date on which notice of such election is to be given to the Agent by the other Lenders, and such Lender shall not be obligated to, and shall not, make any Competitive Bid Advance as part of such Competitive Bid Borrowing; provided that the
failure by any Lender to give such notice shall not cause such Lender to be obligated to make any Competitive Bid Advance as part of such proposed Competitive Bid Borrowing. 

(iii) The Borrower shall, in turn, (A) before 10:30 A.M. (New York City time) on the date of such proposed
Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of Fixed Rate Advances denominated in Dollars, (B) before 11:00 A.M. (New York City time) three Business Days before the date of such proposed
Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of LIBO Rate Advances denominated in Dollars, (C) before 3:00 P.M. (London time) on the Business Day prior to the date of such proposed Competitive Bid Borrowing,
in the case of a Competitive Bid Borrowing consisting of either Fixed Rate Advances denominated in any Foreign Currency or Local Rate Advances denominated in any Foreign Currency and (D) before 3:00 P.M. (London time) on the third Business Day
prior to the date of such Competitive Bid Borrowing, in the case of a Competitive Bid Borrowing consisting of LIBO Rate Advances denominated in any Foreign Currency, either: 

(x) cancel such Competitive Bid Borrowing by giving the Agent notice to that effect, or 

(y) accept one or more of the offers made by any Lender or Lenders pursuant to paragraph (ii) above, in its sole
discretion, by giving notice to the Agent of the amount of each Competitive Bid Advance (which amount shall be equal to or greater than the minimum amount, and equal to or less than the maximum amount, notified to the Borrower by the Agent on behalf
of such Lender for such Competitive Bid Advance pursuant to paragraph (ii) above) to be made by each Lender as part of such Competitive Bid Borrowing, and reject any remaining offers made by Lenders pursuant to paragraph (ii) above by
giving the Agent notice to that effect. The Borrower shall accept the offers made by any Lender or Lenders to make Competitive Bid Advances in order of the lowest to the highest rates of interest offered by such Lenders. If two or more Lenders have
offered the same interest rate, the amount to be borrowed at such interest rate will be allocated among such Lenders in proportion to the amount that each such Lender offered at such interest rate. 

  
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 (iv) If the Borrower notifies the Agent that such Competitive Bid Borrowing
is cancelled pursuant to paragraph (iii)(x) above, the Agent shall give prompt notice thereof to the Lenders and such Competitive Bid Borrowing shall not be made. 

(v) If the Borrower accepts one or more of the offers made by any Lender or Lenders pursuant to
paragraph (iii)(y) above, the Agent shall in turn promptly notify (A) each Lender that has made an offer as described in paragraph (ii) above, of the date and aggregate amount of such Competitive Bid Borrowing and whether or not any
offer or offers made by such Lender pursuant to paragraph (ii) above have been accepted by the Borrower, (B) each Lender that is to make a Competitive Bid Advance as part of such Competitive Bid Borrowing, of the amount of each Competitive
Bid Advance to be made by such Lender as part of such Competitive Bid Borrowing, and (C) each Lender that is to make a Competitive Bid Advance as part of such Competitive Bid Borrowing, upon receipt, that the Agent has received forms of
documents appearing to fulfill the applicable conditions set forth in Article III. Each Lender that is to make a Competitive Bid Advance as part of such Competitive Bid Borrowing shall, before 11:00 A.M. (New York City time), in the case
of Competitive Bid Advances to be denominated in Dollars or 11:00 A.M. (London time), in the case of Competitive Bid Advances to be denominated in any Foreign Currency, on the date of such Competitive Bid Borrowing specified in the notice received
from the Agent pursuant to clause (A) of the preceding sentence or any later time when such Lender shall have received notice from the Agent pursuant to clause (C) of the preceding sentence, make available for the account of its Applicable
Lending Office to the Agent (x) in the case of a Competitive Bid Borrowing denominated in Dollars, at its address referred to in Section 8.02(a), in same day funds, such Lender’s portion of such Competitive Bid Borrowing in Dollars
and (y) in the case of a Competitive Bid Borrowing in a Foreign Currency, at the Payment Office for such Foreign Currency as shall have been notified by the Agent to the Lenders prior thereto, in same day funds, such Lender’s portion of
such Competitive Bid Borrowing in such Foreign Currency. Upon fulfillment of the applicable conditions set forth in Article III and after receipt by the Agent of such funds, the Agent will make such funds available to the Borrower at the location
specified by the Borrower in its Notice of Competitive Bid Borrowing. Promptly after each Competitive Bid Borrowing the Agent will notify each Lender of the amount of the Competitive Bid Borrowing, the consequent Competitive Bid Reduction and the
dates upon which such Competitive Bid Reduction commenced and will terminate. 
 (vi) If the Borrower notifies
the Agent that it accepts one or more of the offers made by any Lender or Lenders pursuant to paragraph (iii)(y) above, such notice of acceptance shall be irrevocable and binding on the Borrower. The Borrower shall indemnify each Lender against
any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in the related Notice of Competitive Bid Borrowing for such Competitive Bid Borrowing the applicable conditions set forth in
Article III, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Competitive Bid
Advance to be made by such Lender as part of such Competitive Bid Borrowing when such Competitive Bid Advance, as a result of such failure, is not made on such date. 
 (b) Each Competitive Bid Borrowing shall be in an aggregate amount of $10,000,000 (or the Equivalent thereof in any Foreign Currency, determined as of the time of the applicable Notice of Competitive Bid
Borrowing) or an integral multiple of $1,000,000 (or the Equivalent thereof in any Foreign Currency, determined as of the time of the applicable Notice of Competitive Bid Borrowing) in excess thereof and, following the making of each Competitive Bid
Borrowing, the Borrower shall be in compliance with the limitations set forth in the provisos to the first sentence of subsection (a) above. 
 (c) Within the limits and on the conditions set forth in this Section 2.03, the Borrower may from time to time borrow under this Section 2.03, repay or prepay pursuant to subsection (d)
below, and reborrow under this Section 2.03, provided that a Competitive Bid Borrowing shall not be made within three Business Days of the date of any other Competitive Bid Borrowing. 

  
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 (d) The Borrower shall repay to the Agent for the account of each Lender that has made a
Competitive Bid Advance, on the maturity date of each Competitive Bid Advance (such maturity date being that specified by the Borrower for repayment of such Competitive Bid Advance in the related Notice of Competitive Bid Borrowing delivered
pursuant to subsection (a)(i) above and provided in the Competitive Bid Note evidencing such Competitive Bid Advance), the then unpaid principal amount of such Competitive Bid Advance. The Borrower shall have no right to prepay any principal
amount of any Competitive Bid Advance unless, and then only on the terms, specified by the Borrower for such Competitive Bid Advance in the related Notice of Competitive Bid Borrowing delivered pursuant to subsection (a)(i) above and set forth
in the Competitive Bid Note evidencing such Competitive Bid Advance. 
 (e) The Borrower shall pay interest on the unpaid
principal amount of each Competitive Bid Advance from the date of such Competitive Bid Advance to the date the principal amount of such Competitive Bid Advance is repaid in full, at the rate of interest for such Competitive Bid Advance specified by
the Lender making such Competitive Bid Advance in its notice with respect thereto delivered pursuant to subsection (a)(ii) above, payable on the interest payment date or dates specified by the Borrower for such Competitive Bid Advance in the
related Notice of Competitive Bid Borrowing delivered pursuant to subsection (a)(i) above, as provided in the Competitive Bid Note evidencing such Competitive Bid Advance. Upon the occurrence and during the continuance of an Event of Default,
the Borrower shall pay interest on the amount of unpaid principal of and interest on each Competitive Bid Advance owing to a Lender, payable in arrears on the date or dates interest is payable thereon, at a rate per annum equal at all times to
2% per annum above the rate per annum required to be paid on such Competitive Bid Advance under the terms of the Competitive Bid Note evidencing such Competitive Bid Advance unless otherwise agreed in such Competitive Bid Note. 

(f) The indebtedness of the Borrower resulting from each Competitive Bid Advance made to the Borrower as part of a Competitive Bid
Borrowing shall be evidenced by a separate Competitive Bid Note of the Borrower payable to the order of the Lender making such Competitive Bid Advance. 
 SECTION 2.04. Fees. (a) Facility Fee. The Borrower agrees to pay to the Agent for the account of each Lender a facility fee on the aggregate amount of such Lender’s Commitment from
the Effective Date in the case of each Initial Lender and from the later of the Effective Date and the effective date specified in the Assumption Agreement or in the Assignment and Assumption pursuant to which it became a Lender in the case of each
other Lender until the Termination Date applicable to such Lender at a rate per annum equal to the Applicable Percentage in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December,
commencing March 31, 2012, and on the final Termination Date; provided that, during the period that a Lender is a Defaulting Lender, such facility fee shall not accrue with respect to any unused Commitments of such Lender. 

(b) Agent’s Fees. The Borrower shall pay to the Agent for its own account such fees as may from time to time be agreed
between the Borrower and the Agent. 
 SECTION 2.05. Optional Termination or Reduction of the Commitments. The Borrower
shall have the right, upon at least three Business Days’ notice (which notice may be contingent upon the closing of replacement financing) to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective
Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments
of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances denominated in Dollars then outstanding plus the Equivalent in Dollars (determined as of the date of the notice of
prepayment) of the aggregate principal amount of the Competitive Bid Advances denominated in Foreign Currencies then outstanding. 
 SECTION 2.06. Repayment of Revolving Credit Advances. The Borrower shall repay to the Agent for the account of each Lender on the Termination Date applicable to such Lender the aggregate principal
amount of the Revolving Credit Advances made by such Lender and then outstanding. 
 SECTION 2.07. Interest on Revolving
Credit Advances. (a) Scheduled Interest. The Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance owing to each Lender from the 

  
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date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum: 

(i) Base Rate Advances. During such periods as such Revolving Credit Advance is a Base Rate Advance, a rate per
annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and
December during such periods and on the date such Base Rate Advance shall be Converted or paid in full. 
 (ii)
Eurocurrency Rate Advances. During such periods as such Revolving Credit Advance is a Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period for such Revolving Credit Advance to the sum of (w) the
Eurocurrency Rate for such Interest Period for such Revolving Credit Advance plus (x) the Applicable Margin in effect from time to time plus (y) without duplication of amounts paid pursuant to Section 2.11, in the case
of a Eurocurrency Rate Advance of any Lender which is lent from a Lending Office in the United Kingdom or a Participating Member State the Mandatory Cost, payable in arrears on the last day of such Interest Period and, if such Interest Period has a
duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurocurrency Rate Advance shall be Converted or paid in full. 

(b) Default Interest. Upon the occurrence and during the continuance of an Event of Default, the Agent may with the consent, and
shall upon the request, of the Required Lenders, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the
dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above and
(ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the
date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above provided,
however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent. 

SECTION 2.08. Interest Rate Determination. (a) The Agent shall give prompt notice to the Borrower and the Lenders of the
applicable interest rate determined by the Agent for purposes of Section 2.07(a)(i) or (ii). 
 (b) If, with respect to any
Eurocurrency Rate Advances, the Required Lenders notify the Agent that (i) they are unable to obtain matching deposits in the London inter-bank market at or about 11:00 A.M. (London time) on the second Business Day before the making of a
Borrowing in sufficient amounts to fund their respective Revolving Credit Advances as a part of such Borrowing during its Interest Period or (ii) the Eurocurrency Rate for any Interest Period for such Advances will not adequately reflect the
cost to such Required Lenders of making, funding or maintaining their respective Eurocurrency Rate Advances for such Interest Period, the Agent shall forthwith so notify the Borrower and the Lenders, whereupon (A) the Borrower will, on the last
day of the then existing Interest Period therefor, (1) if such Eurocurrency Rate Advances are denominated in Dollars, either (x) prepay such Advances or (y) Convert such Advances into Base Rate Advances and (2) if such
Eurocurrency Rate Advances are denominated in any Committed Currency, either (x) prepay such Advances or (y) exchange such Advances into an Equivalent amount of Dollars and Convert such Advances into Base Rate Advances and (B) the
obligation of the Lenders to make, or to Convert Revolving Credit Advances into, Eurocurrency Rate Advances shall be suspended until the Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist
(which notice shall be given promptly after such circumstances cease to exist); provided that, if the circumstances set forth in clause (ii) above are applicable, the Borrower may elect, by notice to the Agent and the Lenders, to
continue such Advances in such Committed Currency for Interest Periods of not longer than one month, which Advances shall thereafter bear interest at a rate per annum equal to the Applicable Margin plus, for each Lender, the cost to such Lender
(expressed as a rate per annum) of funding its Eurocurrency Rate Advances by whatever means it reasonably determines to be appropriate. Each Lender shall certify its cost of funds for each 

  
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Interest Period to the Agent and the Borrower as soon as practicable (but in any event not later than ten Business Days after the first day of such Interest Period). 

(c) If the Borrower shall fail to select the duration of any Interest Period for any Eurocurrency Rate Advances in accordance with the
provisions contained in the definition of “Interest Period” in Section 1.01, the Agent will forthwith so notify the Borrower and the Lenders and such Advances will automatically, on the last day of the then existing Interest Period
therefor, be continued as Eurocurrency Rate Advances having an interest period of one month. 
 (d) On the date on which the
aggregate unpaid principal amount of Eurocurrency Rate Advances comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than $10,000,000, such Advances shall automatically (i) if such Eurocurrency Rate Advances
are denominated in Dollars, Convert into Base Rate Advances and (ii) if such Eurocurrency Rate Advances are denominated in a Committed Currency, be exchanged for an Equivalent amount of Dollars and Convert into Base Rate Advances. 

(e) Upon the occurrence and during the continuance of any Event of Default, (i) each Eurocurrency Rate Advance
will automatically, on the last day of the then existing Interest Period therefor, (A) if such Eurocurrency Rate Advances are denominated in Dollars, be Converted into Base Rate Advances and (B) if such Eurocurrency Rate Advances are
denominated in any Committed Currency, be exchanged into an Equivalent amount of Dollars and be Converted into Base Rate Advances and (ii) the obligation of the Lenders to make, or to Convert Advances into, Eurocurrency Rate Advances shall be
suspended; provided that Borrower may elect, by notice to the Agent and the Lenders within one Business Day of such Event of Default, to continue such Advances in such Committed Currency, whereupon the Agent may require that each Interest
Period relating to such Eurocurrency Rate Advances shall bear interest at the Overnight Eurocurrency Rate for a period of three Business Days and thereafter, each such Interest Period shall have a duration of not longer than one month.
“Overnight Eurocurrency Rate” means the rate per annum applicable to an overnight period beginning on one Business Day and ending on the next Business Day equal to the sum of 1%, the Applicable Margin and the average, rounded upward
to the nearest whole multiple of 1/100th of 1%, if such
average is not such a multiple, of the respective rates per annum quoted by JPMCB as the rate at which it is offering overnight deposits in the relevant currency in amounts comparable to JPMCB’s Eurocurrency Rate Advances. 

SECTION 2.09. Optional Conversion of Revolving Credit Advances. The Borrower may on any Business Day, upon notice given to the
Agent not later than 12:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.08 and 2.12, Convert all Revolving Credit Advances denominated in
Dollars of one Type comprising the same Borrowing into Revolving Credit Advances denominated in Dollars of the other Type; provided, however, that any Conversion of Eurocurrency Rate Advances into Base Rate Advances shall be made only
on the last day of an Interest Period for such Eurocurrency Rate Advances, any Conversion of Base Rate Advances into Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no
Conversion of any Revolving Credit Advances shall result in more separate Revolving Credit Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the
date of such Conversion, (ii) the Dollar denominated Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice
of Conversion shall be irrevocable and binding on the Borrower. 
 SECTION 2.10. Prepayments of Revolving Credit
Advances. (a) Optional. The Borrower may, upon notice not later than 12:00 P.M. (New York time) with respect to Eurocurrency Rate Advances denominated in Dollars and not later than 12:00 P.M. (London time) with respect to
Eurocurrency Rate Advances denominated in a Foreign Currency at least two Business Days’ prior to the date of such prepayment, and not later than 12:00 P.M. (New York City time) on the date of such prepayment, in the case of Base Rate Advances,
to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount of the Revolving Credit Advances comprising part of the same Revolving
Credit Borrowing in whole or ratably in part without premium or penalty, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall, in
the case of Eurocurrency Rate Advances, be in an aggregate principal amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof or the Equivalent thereof in a Committed Currency (determined on the date notice of

  
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prepayment is given) or, in the case of Base Rate Advances, be in an aggregate principal amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof or the Equivalent thereof in
a Committed Currency (determined on the date notice of prepayment is given) and (y) in the event of any such prepayment of a Eurocurrency Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to
Section 8.04(c). 
 (b) Mandatory Prepayments. (i) If the Agent notifies the Borrower that, on any interest
payment date, the sum of (A) the aggregate principal amount of all Advances denominated in Dollars then outstanding plus (B) the Equivalent in Dollars (determined on the third Business Day prior to such interest payment date) of the
aggregate principal amount of all Advances denominated in Foreign Currencies then outstanding exceeds 103% of the aggregate Commitments of the Lenders on such date, the Borrower shall, within two Business Days after receipt of such notice, prepay
the outstanding principal amount of any Advances owing by the Borrower in an aggregate amount sufficient to reduce such sum to an amount not to exceed 100% of the aggregate Commitments of the Lenders on such date. 

(ii) Each prepayment made pursuant to this Section 2.10(b) shall be made together with any interest accrued to the date of such
prepayment on the principal amounts prepaid and, in the case of any prepayment of a Eurocurrency Rate Advance, a LIBO Rate Advance or a Local Rate Advance on a date other than the last day of an Interest Period or at its maturity, any additional
amounts which the Borrower shall be obligated to reimburse to the Lenders in respect thereof pursuant to Section 8.04(c). The Agent shall give prompt notice of any prepayment required under this Section 2.10(b) to the Borrower and the
Lenders. 
 SECTION 2.11. Increased Costs. (a) If, due to either (i) the introduction of or any change in or in
the interpretation of any law or regulation (including, but not limited to, any changes resulting in the failure of the Mandatory Cost, as calculated hereunder, to represent the cost to any Lender of complying with the requirements of the Bank of
England and/or the Financial Services Authority or the European Central Bank in relation to its making, funding or maintaining Eurocurrency Rate Advances) or (ii) the compliance with any guideline or request issued by any central bank or other
Governmental Authority including, without limitation, any agency of the European Union or similar monetary or multinational authority after the date hereof (whether or not having the force of law) there shall be any increase in the cost to any
Lender of agreeing to make or making, funding or maintaining Eurocurrency Rate Advances or LIBO Rate Advances (excluding for purposes of this Section 2.11 any such increased costs resulting from (i) Taxes or Other Taxes (as to which
Section 2.14 shall govern), (ii) changes in the basis of taxation of overall net income or overall gross income by the United States or by the foreign jurisdiction or state under the laws of which such Lender is organized or is otherwise
subject to tax), (iii) FATCA or (iv) any reserve requirement of the type described in the definition of “Eurocurrency Rate Reserve Percentage”), then the Borrower shall from time to time, within 30 days of demand by such Lender
(with a copy of such demand to the Agent), pay to the Agent for the account of such Lender additional amounts sufficient to compensate such Lender for such increased cost. A certificate in reasonable detail as to the amount and computation of such
increased cost, submitted to the Borrower and the Agent by such Lender contemporaneously with the demand for payment, shall be conclusive and binding for all purposes, absent manifest error. 

(b) If any Lender determines that compliance with any law or regulation or any guideline or request from any central bank or other
Governmental Authority (whether or not having the force of law, but excluding any reserve requirement of the type described in the definition of “Eurocurrency Rate Reserve Percentage”) affects or would affect the amount of capital required
or expected to be maintained by such Lender or any corporation controlling such Lender and that the amount of such capital is increased by or based upon the existence of such Lender’s commitment to lend hereunder and other commitments of this
type, then, within 30 days of demand by such Lender (with a copy of such demand to the Agent), the Borrower shall pay to the Agent for the account of such Lender, from time to time as specified by such Lender, additional amounts sufficient to
compensate such Lender or such corporation in the light of such circumstances, to the extent that such Lender reasonably determines such increase in capital to be allocable to the existence of such Lender’s commitment to lend hereunder. A
certificate in reasonable detail as to such amounts together with the computation thereof submitted to the Borrower and the Agent by such Lender contemporaneously with the demand for payment shall be conclusive and binding for all purposes, absent
manifest error. 
 (c) Failure or delay on the part of any Lender to demand compensation pursuant to this Section 2.11
shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the 

  
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Borrower shall not be required to compensate a Lender pursuant to this Section 2.11 for any increased costs incurred or reductions suffered more than 120 days prior to the date that such
Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions of such Lender’s intention to claim compensation therefor and of the amount of such compensation (except that, if the Change in Law giving rise
to such increased costs or reductions is retroactive, then the 120 day period referred to above shall be extended to include the period of retroactive effect thereof). 
 (d) For the avoidance of doubt, for the purposes of this Section 2.11, with respect to capital adequacy, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,
rules, regulations, guidelines, interpretations or directives thereunder or issued in connection therewith (whether or not having the force of law) and (y) all requests, rules, regulations, guidelines, interpretations or directives promulgated
by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities (whether or not having the force of law), in each case pursuant to
Basel III, shall in each case be deemed to be a Change in Law regardless of the date enacted, adopted, issued, promulgated or implemented. 
 SECTION 2.12. Illegality. Notwithstanding any other provision of this Agreement, if any Lender shall notify the Agent and the Borrower that the introduction of or any change in or in the
interpretation of any law or regulation makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for any Lender or its Eurocurrency Lending Office to perform its obligations hereunder to make Eurocurrency
Rate Advances in Dollars or any Committed Currency or LIBO Rate Advances in Dollars or any Foreign Currency or to fund or maintain Eurocurrency Rate Advances in Dollars or any Committed Currency or LIBO Rate Advances in Dollars or any Foreign
Currency hereunder, (a) each Eurocurrency Rate Advance or LIBO Rate Advance, as the case may be, will automatically, upon such demand, (i) if such Eurocurrency Rate Advance or LIBO Rate Advance is denominated in Dollars, be Converted into
a Base Rate Advance or an Advance that bears interest at the rate set forth in Section 2.07(a)(i), as the case may be, and (ii) if such Eurocurrency Rate Advance or LIBO Rate Advance is denominated in any Foreign Currency, be exchanged
into an Equivalent amount of Dollars and be Converted into a Base Rate Advance or an Advance that bears interest at the rate set forth in Section 2.07(a)(i), as the case may be, and (b) the obligation of the Lenders to make Eurocurrency
Rate Advances or LIBO Rate Advances or to Convert Revolving Credit Advances into Eurocurrency Rate Advances shall be suspended until the Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no longer exist
(which notice shall be given promptly after such circumstances cease to exist). 
 SECTION 2.13. Payments and
Computations. (a) The Borrower shall make each payment hereunder, except with respect to principal of, interest on, and other amounts relating to, Advances denominated in a Foreign Currency, not later than 12:00 P.M. (New York
City time) on the day when due in Dollars to the Agent at the applicable Agent’s Account in same day funds. The Borrower shall make each payment hereunder with respect to principal of, interest on, and other amounts relating to, Advances
denominated in a Foreign Currency, not later than 12:00 P.M. (at the Payment Office for such Foreign Currency) on the day when due in such Foreign Currency to the Agent, by deposit of such funds to the applicable Agent’s Account in same
day funds. The Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest or facility fees ratably (other than amounts payable pursuant to Section 2.03, 2.11, 2.14 or 8.04(c) and other
than as otherwise provided herein with respect to Defaulting Lenders) to the Lenders for the account of their respective Applicable Lending Offices, and like funds relating to the payment of any other amount payable to any Lender to such Lender for
the account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement. Upon any Assuming Lender becoming a Lender hereunder as a result of a Commitment Increase pursuant to Section 2.18, an
extension of the Termination Date pursuant to Section 2.19 or the addition of a Lender pursuant to Section 2.21, and upon the Agent’s receipt of such Lender’s Assumption Agreement and recording of the information contained
therein in the Register, from and after the applicable Increase Date or Extension Date, as the case may be, the Agent shall make all payments hereunder and under any Notes issued in connection therewith in respect of the interest assumed thereby to
the Assuming Lender. Upon its acceptance of an Assignment and Assumption and recording of the information contained therein in the Register pursuant to Section 8.07(c), from and after the effective date specified in such Assignment and
Assumption, the Agent shall make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such Assignment and Assumption shall make all appropriate adjustments in
such payments for periods prior to such effective date directly between themselves. 

  
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 (b) The Borrower hereby authorizes each Lender during the continuance of an Event of
Default, if and to the extent payment owed to such Lender is not made when due hereunder or under the Note held by such Lender, to charge from time to time against any or all of the Borrower’s accounts with such Lender any amount so due. Each
Lender that charges an account of the Borrower in accordance with this Section agrees to promptly so notify the Borrower, provided that the failure to give such notice shall not affect the validity of such charge. 

(c) All computations of interest based on the Base Rate shall be made by the Agent on the basis of a year of 365 or 366 days, as the case
may be, all computations of interest based on the Eurocurrency Rate, the Federal Funds Effective Rate or One Month LIBOR and of facility fees shall be made by the Agent on the basis of a year of 360 days, except in the case of British Pounds which
shall be made by the Agent on the basis of a year of 365 days, and computations in respect of Competitive Bid Advances shall be made by the Agent as specified in the applicable Notice of Competitive Bid Borrowing (or, in each case of Advances
denominated in Foreign Currencies where market practice differs, in accordance with market practice), in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or
facility fees are payable. Each determination by the Agent of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. 
 (d) Whenever any payment hereunder or under the Notes shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of
time shall in such case be included in the computation of payment of interest or facility fee, as the case may be; provided, however, that, if such extension would cause payment of interest on or principal of Eurocurrency Rate Advances
or LIBO Rate Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. 
 (e) Unless the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Lenders hereunder that the Borrower will not make such payment in full, the Agent may
assume that the Borrower has made such payment in full to the Agent on such date and the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and
to the extent the Borrower shall not have so made such payment in full to the Agent, each Lender shall repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such
amount is distributed to such Lender until the date such Lender repays such amount to the Agent, at (i) the Federal Funds Effective Rate in the case of Advances denominated in Dollars or (ii) the cost of funds incurred by the Agent in
respect of such amount in the case of Advances denominated in Foreign Currencies. 
 SECTION 2.14. Taxes. (a) Any
and all payments by the Borrower hereunder or under the Notes shall be made, in accordance with Section 2.13, free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or withholdings,
and all liabilities with respect thereto (all of the foregoing, excluding, (i) in the case of each Lender and the Agent, (1) taxes imposed on all or a portion of its overall net income, (2) franchise taxes imposed on it in lieu
of net income taxes, (3) any branch profits taxes imposed, and (4) any taxes on the capital or net worth imposed in lieu of net income taxes, by the jurisdictions in which such Lender or the Agent (as the case may be) is otherwise subject
to tax and (ii) any United States withholding tax imposed under FATCA, “Taxes”). If the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder or under any Note to any Lender or
the Agent, (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.14) such Lender or the Agent (as the case
may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted to the relevant taxation authority
or other authority in accordance with applicable law. 
 (b) In addition, the Borrower shall pay any present or future stamp or
documentary taxes or any other excise or property taxes, charges or similar levies that arise from any payment made hereunder or under the Notes or from the execution, delivery or registration of, performing under, or otherwise with respect to, this
Agreement or the Notes (hereinafter referred to as “Other Taxes”). 

  
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 (c) The Borrower shall indemnify each Lender and the Agent for and hold it harmless against
the full amount of Taxes or Other Taxes (including, without limitation, taxes of any kind imposed by any jurisdiction on amounts payable under this Section 2.14) imposed on or paid by such Lender or the Agent (as the case may be) in connection
with this Agreement or the Notes, and any liability (including penalties, interest and expenses not incurred by reason of gross negligence or willful misconduct on the part of such Lender or the Agent) arising therefrom or with respect thereto. This
indemnification shall be made within 30 days from the date such Lender or the Agent (as the case may be) makes written demand therefor. 
 (d) Within 30 days after the date of any payment of Taxes, the Borrower shall furnish to the Agent, at its address referred to in Section 8.02(a), the original or a certified copy of a receipt
evidencing (or other sufficient evidence of) such payment. In the case of any payment hereunder or under the Notes by or on behalf of the Borrower through an account or branch outside the United States or by or on behalf of the Borrower by a payor
that is not a United States person, if the Borrower determines that no Taxes are payable in respect thereof, the Borrower shall furnish, or shall cause such payor to furnish, to the Agent, at such address, an opinion of counsel as requested by and
acceptable to the Agent stating that such payment is exempt from Taxes. For purposes of this subsection (d) and subsection (e), the terms “United States” shall have the meaning specified in Section 7701 of the Internal
Revenue Code. 
 (e) (i) Each Lender, on or prior to the date of its execution and delivery of this Agreement in the case of
each Initial Lender and on the date of the Assumption Agreement or the Assignment and Assumption pursuant to which it becomes a Lender in the case of each other Lender, and from time to time thereafter as requested in writing by the Borrower, shall
provide each of the Agent and the Borrower with two duly completed and executed copies of the IRS Forms and other documentation described below: 
 (A) in the case of a Lender other than a Non-U.S. Lender, IRS Form W-9 certifying that such Lender is exempt from U.S. Federal backup withholding tax; 

(B) in the case of a Non-U.S. Lender claiming the benefits of an income tax treaty to which the United States is a party
(1) with respect to payments of interest under any Loan Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding tax pursuant to the “interest” article of such tax treaty and (2) with
respect to any other applicable payments under this Agreement, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding tax pursuant to the “business profits” or “other income” article of such tax
treaty; 
 (C) in the case of a Non-U.S. Lender for whom payments under this Agreement constitute income that is
effectively connected with the conduct of a trade or business in the United States by such Lender (or, in the event that such Lender is a Disregarded Entity, by the owner of such Lender), IRS Form W-8ECI; 

(D) in the case of a Non-U.S. Lender claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Internal Revenue Code both (1) IRS Form W-8BEN and (2) a certificate (a “U.S. Tax Certificate”) to the effect that such Lender (or, in the event that such Lender is a Disregarded Entity, the owner of
such Lender) is not (a) a “bank” within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, (b) a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the
Internal Revenue Code (c) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Internal Revenue Code and (d) conducting a trade or business in the United States with which the relevant interest
payments are effectively connected; or 
 (E) in the case of a Non-U.S. Lender (or, in the event that the
Non-U.S. Lender is a Disregarded Entity, the owner of such Non-U.S. Lender) that (for U.S. federal income tax purposes) is not the beneficial owner of payments made under a Loan Document (including a partnership or a participating Lender)
(1) an IRS Form W-8IMY on behalf of itself and (2) the relevant forms prescribed in clauses (A), (B), (C), and (D) above that would be required of each such beneficial owner or partner of such partnership if such beneficial owner or
partner were a Lender; provided, however, that if the Lender is a partnership and one or more of its partners are claiming the exemption for portfolio interest under Section 881(c) of the Internal Revenue Code, such Lender may provide a U.S.
Tax Certificate on behalf of such partners. 

  
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 (ii) If the IRS Form provided by a Lender at the time such Lender first
becomes a party to this Agreement indicates a United States interest withholding tax rate in excess of zero, withholding tax at such rate shall be considered excluded from Taxes unless and until such Lender provides the appropriate forms certifying
that a lesser rate applies, whereupon withholding tax at such lesser rate only shall be considered excluded from Taxes for periods governed by such Form; provided, however, that, if at the date of the Assignment and Assumption pursuant
to which a Lender assignee becomes a party to this Agreement, the Lender assignor was entitled to payments under subsection (a) in respect of United States withholding tax with respect to interest paid at such date, then, to such extent, the
term Taxes shall include (in addition to withholding taxes that may be imposed in the future or other amounts otherwise includable in Taxes) United States withholding tax, if any, applicable with respect to the Lender assignee on such date. If any
IRS Form or certification previously delivered pursuant to this Section expires or becomes obsolete or inaccurate in any respect with respect to a Lender, such Lender shall promptly (and in any event within 10 days after such expiration,
obsolescence or inaccuracy) notify the Borrower and the Agent in writing of such expiration, obsolescence or inaccuracy and update the Form or certification, unless any change in treaty, law or regulation has occurred after the date such Lender
becomes a party hereunder which renders such IRS Form or certification inapplicable or which would prevent such Lender from duly completing and delivering any such IRS Form or certification with respect to it and such Lender so advises the Borrower
and the Agent. If any IRS Form or other document referred to in this subsection (e) requires the disclosure of information, other than information necessary to compute the tax payable and information required on the date hereof by the
particular IRS Form, that the Lender reasonably considers to be confidential, the Lender shall give notice thereof to the Borrower and shall not be obligated to include in such form or document such confidential information. 

(iii) If a payment made to a Lender would be subject to United States federal withholding tax imposed by FATCA if such
Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Internal Revenue Code, as applicable), such Lender shall deliver to the Borrower, at the time or
times prescribed by law and at such time or times reasonably requested in writing by the Borrower, such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such
additional documentation reasonably requested in writing by the Borrower as may be necessary for the Borrower to comply with its obligations under FATCA, to determine that such Lender has complied with such Lender’s obligations under FATCA or
to determine the amount to deduct and withhold from such payment. For purposes of this Section 2.14(e)(ii) FATCA shall include any Treasury regulations or interpretations thereof and all amendments made to FATCA after the date of this
Agreement. 
 (f) Each Initial Lender hereby confirms as of the Effective Date, and each other Lender confirms as of the
effective date of the Assignment and Assumption or Assumption Agreement pursuant to which it becomes a party hereto, in favor of the Agent and the Borrower that either (i) such Lender is not resident in the United Kingdom and is beneficially
entitled to the Advances and the interest thereon or (ii) it is a bank as defined for the purposes of Section 349 of the Income and Corporation Taxes Act of 1988 of the United Kingdom and is beneficially entitled to the Advances and the
interest thereon, and each Lender agrees to notify the Agent if there is any change in its position from that set forth in this clause (f). 
 (g) For any period with respect to which a Lender has failed to provide the Borrower with the appropriate form described in Section 2.14(e) (other than if such failure is due to a
change in law occurring subsequent to the date on which a form originally was required to be provided, or if such form otherwise is not required under subsection (e) above), such Lender shall not be entitled to indemnification under
Section 2.14(a) or (c) with respect to Taxes or withholding taxes under FATCA imposed by the United States by reason of such failure; provided, however, that should a Lender become subject to Taxes because of its failure to
deliver a form required hereunder, the Borrower shall take such steps as the Lender shall reasonably request to assist the Lender to recover such Taxes. 
 (h) Any Lender claiming any additional amounts payable pursuant to this Section 2.14 agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to
change the jurisdiction of its Eurocurrency Lending Office if the making of such a change would avoid the need for, or reduce 

  
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the amount of, any such additional amounts that may thereafter accrue and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such Lender. 

SECTION 2.15. Sharing of Payments, Etc. If any Lender shall obtain any payment (whether voluntary, involuntary, through the
exercise of any right of set-off, or otherwise) on account of the Revolving Credit Advances owing to it (other than pursuant to Section 2.11, 2.14, 2.20 or 8.04(c) and other than as otherwise provided herein with respect to Defaulting Lenders)
in excess of its ratable share of payments on account of the Revolving Credit Advances obtained by all the Lenders, such Lender shall forthwith purchase from the other Lenders such participations in the Revolving Credit Advances owing to them as
shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such
purchase from each Lender shall be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery together with an amount equal to such Lender’s ratable share (according to the proportion of
(i) the amount of such Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered.
The Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.15 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to
such participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation. 

SECTION 2.16. Evidence of Debt. (a) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Revolving Credit Advance owing to such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time
hereunder in respect of Revolving Credit Advances. The Borrower agrees that upon notice by any Lender to the Borrower (with a copy of such notice to the Agent) to the effect that a Revolving Credit Note is required or appropriate in order for such
Lender to evidence (whether for purposes of a permitted pledge, enforcement or otherwise) the Revolving Credit Advances owing to, or to be made by, such Lender, the Borrower shall promptly execute and deliver to such Lender a Revolving Credit Note
payable to the order of such Lender in a principal amount up to the Commitment of such Lender. 
 (b) The Register maintained by
the Agent pursuant to Section 8.07(c) shall include a control account, and a subsidiary account for each Lender, in which accounts (taken together) shall be recorded (i) the date and amount of each Borrowing made hereunder, the Type of
Advances comprising such Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the terms of each Assumption Agreement and each Assignment and Assumption delivered to and accepted by it, (iii) the amount of any
principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iv) the amount of any sum received by the Agent from the Borrower hereunder and each Lender’s share thereof. 

(c) Entries made in good faith by the Agent in the Register pursuant to subsection (b) above, and by each Lender in its account or
accounts pursuant to subsection (a) above, shall be prima facie evidence of the amount of principal and interest due and payable or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in
the case of such account or accounts, such Lender, under this Agreement, absent demonstrable error; provided, however, that the failure of the Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the
Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrower under this Agreement. 

SECTION 2.17. Use of Proceeds. The proceeds of the Advances shall be available (and the Borrower agrees that it shall use such
proceeds) solely to finance acquisitions and for other general corporate purposes of the Borrower and its Subsidiaries. 

SECTION 2.18. Increase in the Aggregate Commitments. (a) The Borrower may, from time to time, by notice to the Agent, request
that the aggregate amount of the Commitment be increased by an amount of $25,000,000 or an integral multiple thereof (each a “Commitment Increase”) to be effective as of a date that is at least 90 days prior to the scheduled final
Termination Date then in effect (the “Increase Date”) as specified in the related notice to the Agent; provided, however that (i) in no event shall the aggregate amount of the Commitments at any time exceed the
aggregate amount of the Commitments as of the date hereof plus $250,000,000 and (ii) on the 

  
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date of any request by the Borrower for a Commitment Increase and on the related Increase Date the applicable conditions set forth in Article III shall be satisfied. 

(b) The Agent shall promptly notify the Lenders of a request by the Borrower for a Commitment Increase, which notice shall include
(i) the proposed amount of such requested Commitment Increase, (ii) the proposed Increase Date and (iii) the date by which Lenders wishing to participate in the Commitment Increase must commit to an increase in the amount of their
respective Commitments, which shall be at least five Business Days prior to the Increase Date (the “Commitment Date”). Each Lender that is willing to participate in such requested Commitment Increase (each an “Increasing
Lender”) shall, in its sole discretion, give written notice to the Agent on or prior to the Commitment Date of the amount by which it is willing to increase its Commitment. If the Lenders notify the Agent that they are willing to increase
the amount of their respective Commitments by an aggregate amount that exceeds the amount of the requested Commitment Increase, the requested Commitment Increase shall be allocated among the Lenders willing to participate therein in such amounts as
are agreed between the Borrower and the Agent. 
 (c) Promptly following each Commitment Date, the Agent shall notify the
Borrower as to the amount, if any, by which the Lenders are willing to participate in the requested Commitment Increase. If the aggregate amount by which the Lenders are willing to participate in any requested Commitment Increase on any such
Commitment Date is less than the requested Commitment Increase, then the Borrower may extend offers to one or more Eligible Assignees to participate in any portion of the requested Commitment Increase that has not been committed to by the Lenders as
of the applicable Commitment Date; provided, however, that the Commitment of each such Eligible Assignee shall be in an amount of $10,000,000 or more. The Borrower, at its discretion, may withdraw its request for a Commitment Increase
at any time prior to the Increase Date. 
 (d) On each Increase Date, each Eligible Assignee that accepts an offer to
participate in a requested Commitment Increase in accordance with Section 2.18(b) (each such Eligible Assignee, each Eligible Assignee that agrees to an extension of the Termination Date in accordance with Section 2.19(c) and each Eligible
Assignee that becomes a party hereto pursuant to Section 2.21, an “Assuming Lender”) shall become a Lender party to this Agreement as of such Increase Date and the Commitment of each Increasing Lender for such requested
Commitment Increase shall be so increased by such amount (or by the amount allocated to such Lender pursuant to the last sentence of Section 2.18(b)) as of such Increase Date; provided, however, that the Agent shall have received
on or before such Increase Date the following, each dated such date: 
 (i) (A) certified copies of resolutions
of the Board of Directors of the Borrower or the Executive Committee of such Board approving the Commitment Increase and the corresponding modifications to this Agreement and (B) an opinion of counsel for the Borrower (which may be in-house
counsel), in substantially the form of Exhibit D hereto; 
 (ii) an assumption agreement from each Assuming
Lender, if any, in form and substance satisfactory to the Borrower and the Agent (each an “Assumption Agreement”), duly executed by such Eligible Assignee, the Agent and the Borrower; and 

(iii) confirmation from each Increasing Lender of the increase in the amount of its Commitment in a writing satisfactory
to the Borrower and the Agent. 
 On each Increase Date, upon fulfillment of the conditions set forth in Section 3.02 and in the
immediately preceding sentence of this Section 2.18(d), the Agent shall notify the Lenders (including, without limitation, each Assuming Lender) and the Borrower, on or before 1:00 P.M. (New York City time), by telecopier, of the occurrence of
the Commitment Increase to be effected on such Increase Date and shall record in the Register the relevant information with respect to each Increasing Lender and each Assuming Lender on such date. Each Increasing Lender and each Assuming Lender
shall, before 2:00 P.M. (New York City time) on the Increase Date, purchase at par that portion of outstanding Revolving Credit Advances of the other Lenders or take such other actions as the Agent may determine to be necessary to cause the
Revolving Credit Advances to be funded and held on a pro rata basis by the Lenders in accordance with their Ratable Shares (excluding the Commitments of Defaulting Lenders). 

  
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 SECTION 2.19. Extension of Termination Date. (a) At least 30 days but not more
than 45 days prior to any or all of the first, second, third or fourth anniversaries of the Effective Date, the Borrower, by written notice to the Agent, may request an extension of the Termination Date in effect at such time by one year from its
then scheduled expiration. The Agent shall promptly notify each Lender of such request, and each Lender shall in turn, in its sole discretion, not later than 20 days prior to such anniversary date, notify the Borrower and the Agent in writing as to
whether such Lender will consent to such extension. If any Lender shall fail to notify the Agent and the Borrower in writing of its consent to any such request for extension of the Termination Date at least 20 days prior to the applicable
anniversary date, such Lender shall be deemed to be a Non-Consenting Lender with respect to such request. The Agent shall notify the Borrower not later than 15 days prior to the applicable anniversary date of the decision of the Lenders regarding
the Borrower’s request for an extension of the Termination Date. 
 (b) If all the Lenders consent in writing to any such
request in accordance with subsection (a) of this Section 2.19, the Termination Date in effect at such time shall, effective as at the applicable anniversary date (the “Extension Date”), be extended for one year;
provided that on each Extension Date the applicable conditions set forth in Article III shall be satisfied. If less than all of the Lenders consent in writing to any such request in accordance with subsection (a) of this
Section 2.19, the Termination Date in effect at such time shall, effective as at the applicable Extension Date and subject to subsection (d) of this Section 2.19, be extended as to those Lenders that so consented (each a
“Consenting Lender”) but shall not be extended as to any other Lender (each a “Non-Consenting Lender”). To the extent that the Termination Date is not extended as to any Lender pursuant to this Section 2.19 and
the Commitment of such Lender is not assumed in accordance with subsection (c) of this Section 2.19 on or prior to the applicable Extension Date, the Commitment of such Non-Consenting Lender shall automatically terminate in whole on such
unextended Termination Date without any further notice or other action by the Borrower, such Lender or any other Person; provided that such Non-Consenting Lender’s rights under Sections 2.11, 2.14 and 8.04, and its obligations under
Section 7.05, shall survive the Termination Date for such Lender as to matters occurring prior to such date. It is understood and agreed that no Lender shall have any obligation whatsoever to agree to any request made by the Borrower for any
requested extension of the Termination Date. 
 (c) If less than all of the Lenders consent to any such request pursuant to
subsection (a) of this Section 2.19, the Agent shall promptly so notify the Consenting Lenders, and each Consenting Lender may, in its sole discretion, give written notice to the Agent not later than 10 days prior to the Extension Date of
the amount of the Non-Consenting Lenders’ Commitments for which it is willing to accept an assignment. If the Consenting Lenders notify the Agent that they are willing to accept assignments of Commitments in an aggregate amount that exceeds the
amount of the Commitments of the Non-Consenting Lenders, such Commitments shall be allocated among the Consenting Lenders willing to accept such assignments in such amounts as are agreed between the Borrower and the Agent. If after giving effect to
the assignments of Commitments described above there remain any Commitments of Non-Consenting Lenders, the Borrower may arrange for one or more Consenting Lenders or other Eligible Assignees as Assuming Lenders to assume, effective as of the
Extension Date, any Non-Consenting Lender’s Commitment and all of the obligations of such Non-Consenting Lender under this Agreement thereafter arising, without recourse to or warranty by, or expense to, such Non-Consenting Lender;
provided, however, that the amount of the Commitment of any such Assuming Lender as a result of such substitution shall in no event be less than $10,000,000 unless the amount of the Commitment of such Non-Consenting Lender is less than
$10,000,000, in which case such Assuming Lender shall assume all of such lesser amount; and provided further that: 

(i) any such Consenting Lender or Assuming Lender shall have paid to such Non-Consenting Lender (A) the aggregate principal amount
of, and any interest accrued and unpaid to the effective date of the assignment on, the outstanding Advances, if any, of such Non-Consenting Lender plus (B) any accrued but unpaid facility fees owing to such Non-Consenting Lender as of the
effective date of such assignment; 
 (ii) all additional costs reimbursements, expense reimbursements and indemnities payable to
such Non-Consenting Lender, and all other accrued and unpaid amounts owing to such Non-Consenting Lender hereunder, as of the effective date of such assignment shall have been paid to such Non-Consenting Lender; and 

(iii) with respect to any such Assuming Lender, the applicable processing and recordation fee required under Section 8.07(b)(iv) for
such assignment shall have been paid; 

  
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 provided further that such Non-Consenting Lender’s rights under Sections 2.11, 2.14 and
8.04, and its obligations under Section 7.05, shall survive such substitution as to matters occurring prior to the date of substitution. At least three Business Days prior to any Extension Date, (A) each such Assuming Lender, if any, shall
have delivered to the Borrower and the Agent an Assumption Agreement or Assignment and Assumption, duly executed by such Assuming Lender, such Non-Consenting Lender, the Borrower and the Agent and (B) any such Consenting Lender shall have
delivered confirmation in writing satisfactory to the Borrower and the Agent as to the increase in the amount of its Commitment. Upon the payment or prepayment of all amounts referred to in clauses (i), (ii) and (iii) of the immediately
preceding sentence, each such Consenting Lender or Assuming Lender, as of the Extension Date, will be substituted for such Non-Consenting Lender under this Agreement and shall be a Lender for all purposes of this Agreement, without any further
acknowledgment by or the consent of the other Lenders, and the obligations of each such Non-Consenting Lender hereunder shall, by the provisions hereof, be released and discharged. Each Non-Consenting Lender being replaced pursuant to this
Section 2.19 shall deliver to the Borrower any Note or Notes held by such Non-Consenting Lender. 
 (d) If (after giving
effect to any assignments or assumptions pursuant to subsection (c) of this Section 2.19) Lenders having Commitments equal to at least 50% of the Commitments in effect immediately prior to the Extension Date consent in writing to a
requested extension (whether by execution or delivery of an Assumption Agreement or otherwise) not later than one Business Day prior to such Extension Date, the Agent shall so notify the Borrower, and, subject to the satisfaction of the applicable
conditions in Article III, the Termination Date then in effect shall be extended for the additional one-year period as described in subsection (a) of this Section 2.19, and all references in this Agreement, and in the Notes, if any, to the
“Termination Date” shall, with respect to each Consenting Lender and each Assuming Lender for such Extension Date, refer to the Termination Date as so extended. Promptly following each Extension Date, the Agent shall notify the Lenders
(including, without limitation, each Assuming Lender) of the extension of the scheduled Termination Date in effect immediately prior thereto and shall thereupon record in the Register the relevant information with respect to each such Consenting
Lender and each such Assuming Lender. 
 SECTION 2.20. Defaulting Lenders. 

(a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement or any other Loan
Document, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

(i) Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or
consent with respect to this Agreement shall be restricted as set forth in the definition of Required Lenders. 

(ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Agent
for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VI or otherwise) or received by the Agent from a Defaulting Lender pursuant to Section 8.05 shall be applied at such time or times as
may be determined by the Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Agent hereunder; second, as the Borrower may request (so long as no Default or Event of Default exists), to the
funding of any Advance in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Agent; third, if so determined by the Agent and the Borrower, to be held in a deposit
account and released in order to satisfy such Defaulting Lender’s potential future funding obligations with respect to the Advances under this Agreement; fourth, to the payment of any amounts owing to the Lenders as a result of any
judgment of a court of competent jurisdiction obtained by any Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; fifth, so long as no Default or Event of Default
exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its
obligations under this Agreement; and sixth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if such payment is a payment of the principal amount of any Advances in respect of
which such Defaulting Lender has not fully funded its appropriate share, such payment shall be applied solely to pay the Advances of all Non-Defaulting Lenders on a pro rata basis prior 

  
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to being applied to the payment of any Advances owed to such Defaulting Lender until such time as all Advances are held by the Lenders pro rata in accordance with the Commitments. Any payments,
prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender pursuant to this Section 2.20(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and
each Lender irrevocably consents hereto. 
 (iii) Certain Fees. Each Defaulting Lender shall be entitled
to receive the facility fee specified in Section 2.04(a) for any period during which that Lender is a Defaulting Lender only to extent allocable to the sum of the outstanding principal amount of the Advances funded by it. 

(b) If the Borrower and the Agent agree in writing that a Lender is no longer a Defaulting Lender, the Agent will so notify the parties
hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any cash collateral), that Lender will, to the extent applicable, purchase at par
that portion of outstanding Revolving Credit Advances of the other Lenders or take such other actions as the Agent may determine to be necessary to cause the Revolving Credit Advances to be held pro rata by the Lenders in accordance with their
Ratable Shares, whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a
Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party
hereunder arising from that Lender’s having been a Defaulting Lender. 
 SECTION 2.21. Replacement of Lenders. If
(a) any Lender requests compensation under Section 2.11, (b) the Borrower is required to pay additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14, (c) any
Lender is a Defaulting Lender, (d) any Lender’s obligation to make or continue, or to convert Base Rate Advances into, Eurocurrency Rate Advances shall be suspended pursuant to Section 2.12 or any other circumstance described in
Section 2.12 shall occur, or (e) any Lender does not approve any consent, waiver or amendment that (i) requires the approval of all affected Lenders in accordance with the terms of Section 8.01 and (ii) has been approved by
the Required Lenders (a “Non-Approving Lender”), then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Agent, require such Lender to assign and delegate, without recourse (in accordance with and
subject to the restrictions contained in, and consents required by, Section 8.07), all of its interests, rights and obligations under this Agreement to an Eligible Assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment); provided that: 
 (1) the Borrower shall have paid to the
Agent the assignment fee (if any) specified in Section 8.07; 
 (2) such Lender shall have received payment
of an amount equal to the outstanding principal of its Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder (including any amounts under Section 8.04(c)) from the assignee (to the extent of such
outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 
 (3)
in the case of any such assignment resulting from a claim for compensation under Section 2.11 or payments required to be made pursuant to Section 2.14, such assignment will result in a reduction in such compensation or payments thereafter;

 (4) such assignment does not conflict with applicable law; and 

(5) in the case of any assignment resulting from a Lender becoming a Non-Approving Lender, the applicable assignee shall
have consented to the applicable amendment, waiver or consent. 
 SECTION 2.22. Removal of Lenders. Notwithstanding any
other provision of this Agreement to the contrary, if a Lender (a “Demanding Lender”) demands any payment of any amount pursuant to Article II and the amount so demanded is disproportionately greater than the amount of
compensation (if any) that the Borrower 

  
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generally is obligated to pay to other Lenders arising out of the same event or circumstance giving rise to such demand (a “Trigger Event”), then the Borrower may terminate such
Lender’s Commitment hereunder, provided that (i) no Default shall have occurred and be continuing at the time of such Commitment termination, (ii) in the case of a Demanding Lender, the Borrower shall concurrently terminate the
Commitment of each other Lender that has made a demand for payment under Article II that arises out of such Trigger Event and that is similarly disproportionate to the amount the Borrower is generally obligated to pay to other Lenders arising out of
such Trigger Event, (iii) the Agent and the Required Lenders shall have consented to each such Commitment termination (such consents not to be unreasonably withheld or delayed, but may include, without limitation, consideration of the adequacy
of the liquidity of the Borrower and its Subsidiaries) and (iv) such Lender shall have been paid all amounts then due to it under this Agreement and each other Loan Document (which, for the avoidance of doubt, the Borrower may pay in connection
with any such termination without making ratable payments to any other Lender (other than another Lender that has a Commitment that concurrently is being terminated under this Section)). In no event shall the termination of a Lender’s
Commitment in accordance with this paragraph impair or otherwise affect the obligation of the Borrower to make any payment demanded by such Lender in accordance with Article II. 

ARTICLE III 

CONDITIONS TO EFFECTIVENESS AND LENDING 
 SECTION 3.01. Conditions Precedent to Amendment and Restatement. This amendment and restatement of the Existing Credit Agreement shall become effective on and as of the first date (the
“Effective Date”) on which the following conditions precedent have been satisfied: 
 (a) There shall have
occurred no Material Adverse Change since January 1, 2011. 
 (b) There shall exist no action, suit,
investigation, litigation or proceeding against the Borrower or any of its Subsidiaries pending or threatened in writing before any court, governmental agency or arbitrator that (i) would be reasonably likely to have a Material Adverse Effect
other than the matters described on Schedule 3.01(b) hereto (the “Disclosed Litigation”) or (ii) purports to affect the legality, validity or enforceability of this Agreement or any Note or the consummation of the
transactions contemplated hereby, and there shall have been no materially adverse change in the status, or financial effect on the Borrower or any of its Subsidiaries, of the Disclosed Litigation from that described on Schedule 3.01(b) hereto.

 (c) Nothing shall have come to the attention of the Lenders during the course of their due diligence
investigation to lead them to believe that the Information Memorandum was or has become misleading, incorrect or incomplete in any material respect; without limiting the generality of the foregoing, the Lenders shall have been given such access to
the management, records, books of account, contracts and properties of the Borrower and its Subsidiaries as they shall have reasonably requested. 
 (d) All governmental and third party consents and approvals necessary in connection with the transactions contemplated hereby shall have been obtained (without the imposition of any conditions that are
not acceptable to the Lenders) and shall remain in effect, and no law or regulation shall be applicable in the reasonable judgment of the Lenders that restrains, prevents or imposes materially adverse conditions upon the transactions contemplated
hereby. 
 (e) The Borrower shall have notified each Lender and the Agent in writing as to the proposed Effective
Date. 
 (f) The Borrower shall have paid all accrued fees and expenses of the Agent and the Lenders (including
the accrued fees and expenses of counsel to the Agent to the extent invoiced reasonably in advance of the Effective Date). 

  
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 (g) On the Effective Date, the following statements shall be true and the
Agent shall have received for the account of each Lender a certificate signed by a duly authorized officer of the Borrower, dated the Effective Date, stating that: 

(i) The representations and warranties contained in Section 4.01 are correct on and as of the Effective Date, and

 (ii) No event has occurred and is continuing that constitutes a Default. 

(h) The Agent shall have received on or before the Effective Date the following, each dated such day, in form and
substance satisfactory to the Agent and (except for the Revolving Credit Notes) in the number of copies requested by the Agent: 
 (i) The Revolving Credit Notes to the order of the Lenders to the extent requested by any Lender pursuant to Section 2.16. 

(ii) Certified copies of the resolutions of the Board of Directors of the Borrower approving this Agreement and the Notes,
and of all documents evidencing other necessary corporate action and governmental approvals, if any, with respect to this Agreement and the Notes. 
 (iii) A certificate of the Secretary or an Assistant Secretary of the Borrower certifying the names and true signatures of the officers of the Borrower authorized to sign this Agreement and the Notes and
the other documents to be delivered hereunder. 
 (iv) A favorable opinion of Irwin M. Shur, General Counsel of
the Borrower, and a favorable opinion of Foley & Lardner LLP, counsel to the Borrower, substantially in the form of Exhibit D-1 and Exhibit D-2 hereto, respectively, and as to such other matters as any Lender through the Agent may
reasonably request. 
 SECTION 3.02. Conditions Precedent to Each Revolving Credit Borrowing, Commitment Increase and
Commitment Extension. (a) The obligation of each Lender to make a Revolving Credit Advance on the occasion of each Revolving Credit Borrowing and each Commitment Increase pursuant to Section 2.18 and each extension of Commitments
pursuant to Section 2.19 shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Revolving Credit Borrowing, the applicable Increase Date or the applicable Extension Date the following
statements shall be true (and each of the giving of the applicable Notice of Revolving Credit Borrowing, request for Commitment Increase, request for Commitment Extension and the acceptance by the Borrower of the proceeds of such Revolving Credit
Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Borrowing, request for Commitment Extension, such Increase Date or such Extension Date such statements are true): 

(i) the representations and warranties contained in Section 4.01 (except, in the case of Revolving Credit Borrowings,
the representations set forth in the last sentence of subsection (e) thereof and in subsection (f)(i) thereof) are correct on and as of such date, before and after giving effect to such Revolving Credit Borrowing, such Commitment Increase
or such Commitment Extension and to the application of the proceeds therefrom, as though made on and as of such date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such
representation or warranty shall have been true and correct on and as of such earlier date, 
 (ii) no event has
occurred and is continuing, or would result from such Revolving Credit Borrowing, such Commitment Increase or such Commitment Extension or from the application of the proceeds therefrom, that constitutes a Default, and 

  
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 (iii) after giving effect to such Revolving Credit Borrowing, the aggregate
amount of the Borrower’s Debt from any bank or financial institution or under any commercial paper facility or debt securities or securitization program outstanding will not exceed $700,000,000 or, if greater, the amount authorized by
resolutions of the Board of Directors in effect on the date of such Revolving Credit Borrowing; 
 (b) Each Commitment Increase
pursuant to Section 2.18 and each extension of Commitments pursuant to Section 2.19 shall be subject to the receipt by the Agent of such other approvals, opinions or documents as any Lender through the Agent may reasonably request.

 SECTION 3.03. Conditions Precedent to Each Competitive Bid Borrowing. The obligation of each Lender that is to make a
Competitive Bid Advance on the occasion of a Competitive Bid Borrowing to make such Competitive Bid Advance as part of such Competitive Bid Borrowing is subject to the conditions precedent that (i) the Agent shall have received the written
confirmatory Notice of Competitive Bid Borrowing with respect thereto, (ii) on or before the date of such Competitive Bid Borrowing, but prior to such Competitive Bid Borrowing, the Agent shall have received a Competitive Bid Note payable to
the order of such Lender for each of the one or more Competitive Bid Advances to be made by such Lender as part of such Competitive Bid Borrowing, in a principal amount equal to the principal amount of the Competitive Bid Advance to be evidenced
thereby and otherwise on such terms as were agreed to for such Competitive Bid Advance in accordance with Section 2.03, and (iii) on the date of such Competitive Bid Borrowing the following statements shall be true (and each of the giving
of the applicable Notice of Competitive Bid Borrowing and the acceptance by the Borrower of the proceeds of such Competitive Bid Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Competitive Bid
Borrowing such statements are true): 
 (a) the representations and warranties contained in Section 4.01
(except the representations set forth in the last sentence of subsection (e) thereof and in subsection (f)(i) thereof) are correct on and as of the date of such Competitive Bid Borrowing, before and after giving effect to such Competitive
Bid Borrowing and to the application of the proceeds therefrom, as though made on and as of such date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or
warranty shall have been true and correct on and as of such earlier date, 
 (b) no event has occurred and is
continuing, or would result from such Competitive Bid Borrowing or from the application of the proceeds therefrom, that constitutes a Default, 
 (c) no event has occurred and no circumstance exists as a result of which the information concerning the Borrower that has been provided to the Agent and each Lender by the Borrower in connection herewith
would include an untrue statement of a material fact or omit to state any material fact or any fact necessary to make the statements contained therein, in the light of the circumstances under which they were made, not misleading in any material
respect, and 
 (d) after giving effect to such Competitive Bid Borrowing, the aggregate amount of the
Borrower’s Debt from any bank or financial institution or under any commercial paper facility or debt securities or securitization program outstanding will not exceed $700,000,000 or, if greater, the amount authorized by resolutions of the
Board of Directors in effect on the date of such Competitive Bid Borrowing. 
 SECTION 3.04. Determinations Under
Section 3.01. For purposes of determining compliance with the conditions specified in Section 3.01, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required
thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the Agent responsible for the transactions contemplated by this Agreement shall have received notice from such Lender prior to the date
that the Borrower, by notice to the Lenders, designates as the proposed Effective Date, specifying its objection thereto. The Agent shall promptly notify the Lenders and the Borrower of the occurrence of the Effective Date. 

  
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 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES 
 SECTION 4.01. Representations and Warranties
of the Borrower. The Borrower represents and warrants as follows: 
 (a) The Borrower is a corporation duly
organized, validly existing and in good standing under the laws of the State of Delaware. 
 (b) The execution,
delivery and performance by the Borrower of this Agreement and the Notes to be delivered by it, and the consummation of the transactions contemplated hereby, are within the Borrower’s corporate powers, have been duly authorized by all necessary
corporate action, and do not contravene (i) the Borrower’s charter or by-laws or (ii) law or any material contractual restriction binding on the Borrower. 

(c) No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority or
regulatory body or any other third party is required as a condition to the due execution, delivery and performance by the Borrower of this Agreement or the Notes to be delivered by it. 

(d) This Agreement has been, and each of the Notes to be delivered by it when delivered hereunder will have been, duly
executed and delivered by the Borrower. This Agreement is, and each of the Notes when delivered hereunder will be, the legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with their respective terms,
except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors rights generally or by equitable principles. 

(e) The Consolidated balance sheet of the Borrower and its Subsidiaries as at January 1, 2011, and the related
Consolidated statements of income and cash flows of the Borrower and its Subsidiaries for the fiscal year then ended, accompanied by an opinion of Deloitte & Touche LLP, independent public accountants, and the Consolidated balance sheet of
the Borrower and its Subsidiaries as at September 30, 2011, and the related Consolidated statements of income and cash flows of the Borrower and its Subsidiaries for the nine months then ended, duly certified by the chief financial officer of
the Borrower, fairly present, subject, in the case of said balance sheet as at September 30, 2011, and said statements of income and cash flows for the nine months then ended, to the absence of footnotes and to year-end audit adjustments, the
Consolidated financial condition of the Borrower and its Subsidiaries as at such dates and the Consolidated results of the operations of the Borrower and its Subsidiaries for the periods ended on such dates, all in accordance with generally accepted
accounting principles consistently applied. Since January 1, 2011, there has been no Material Adverse Change. 
 (f) There is no pending or threatened (in writing) action, suit, investigation, litigation or proceeding, including, without limitation, any Environmental Action, against the Borrower or any of its
Subsidiaries before any court, governmental agency or arbitrator that (i) would be reasonably likely to have a Material Adverse Effect (other than the Disclosed Litigation) or (ii) purports to affect the legality, validity or
enforceability of this Agreement or any Note or the consummation of the transactions contemplated hereby, and there has been no materially adverse change in the status, or financial effect on the Borrower or any of its Subsidiaries, of the Disclosed
Litigation from that described on Schedule 3.01(b) hereto. 
 (g) The Borrower is not engaged in the
business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board of Governors of the Federal Reserve System), and no proceeds of any Advance will be used to purchase or
carry any margin stock or to extend credit to others for the purpose of purchasing or carrying any margin stock in violation of Regulation U. 

  
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 (h) The Borrower is not an “investment company”, or a company
“controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. 
 ARTICLE V 
 COVENANTS OF THE BORROWER 

SECTION 5.01. Affirmative Covenants. So long as any Advance shall remain unpaid or any Lender shall have any Commitment hereunder,
the Borrower will: 
 (a) Compliance with Laws, Etc. Comply, and cause each of its Material Subsidiaries
to comply, with all applicable laws, rules, regulations and orders, such compliance to include, without limitation, compliance with ERISA and Environmental Laws the violation of which would have a Material Adverse Effect. 

(b) Payment of Taxes, Etc. Pay and discharge, and cause each of its Material Subsidiaries to pay and discharge,
before the same shall become delinquent, all material taxes, assessments and governmental charges or levies imposed upon it or upon its property; provided, however, that neither the Borrower nor any of its Material Subsidiaries shall
be required to pay or discharge any such tax, assessment or charge that is being contested in good faith and by appropriate action and as to which appropriate reserves in accordance with GAAP are being maintained. 

(c) Maintenance of Insurance. Maintain, and cause each of its Material Subsidiaries to maintain, insurance with
responsible and reputable insurance companies or associations in such amounts and covering such risks as is usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which the Borrower or
such Subsidiary operates; provided, however, that the Borrower and its Subsidiaries may self-insure to the same extent as other companies engaged in similar businesses and owning similar properties in the same general areas in which
the Borrower or such Subsidiary operates and to the extent consistent with prudent business practice. 
 (d)
Preservation of Corporate Existence, Etc. Preserve and maintain, and cause each of its Material Subsidiaries to preserve and maintain, its corporate existence, rights (charter and statutory) and franchises; provided, however,
that the Borrower and such Subsidiaries may consummate any transaction permitted under Section 5.02(b) and provided further that neither the Borrower nor any of its Material Subsidiaries shall be required to preserve any right or
franchise if the Board of Directors of the Borrower or such Subsidiary shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Borrower or such Subsidiary, as the case may be, and that the loss
thereof is not disadvantageous in any material respect to the Borrower or such Subsidiary. 
 (e) Visitation
Rights. At any reasonable time and from time to time (but no more frequently than once per calendar year so long as no Event of Default exists) and, so long as no Default has occurred and is continuing, upon reasonable notice, permit the Agent
or any of the Lenders or any agents or representatives thereof, to examine and make copies of and abstracts from the records and books of account of, and visit the properties of, the Borrower and any of its Material Subsidiaries, and to discuss the
affairs, finances and accounts of the Borrower and any of its Material Subsidiaries with any of their officers or directors and, with one or more representatives of the Borrower present if requested by the Borrower, with their independent certified
public accountants, in each case at the Borrower’s expense during the continuance of an Event of Default and otherwise at the expense of the Agent or such Lender, as the case may be. 

(f) Keeping of Books. Keep, and cause each of its Material Subsidiaries to keep, proper books of record and
account, in which full and correct entries shall be made of all financial transactions and the assets and business of the Borrower and each such Subsidiary sufficient to enable financial statements to be prepared in accordance with generally
accepted accounting principles in effect from time to time. 

  
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 (g) Maintenance of Properties, Etc. Maintain and preserve, and cause
each of its Material Subsidiaries to maintain and preserve, all of its properties that are used or useful in the conduct of its business in good working order and condition, ordinary wear and tear excepted, except where the failure to so maintain
and preserve could not reasonably be expected to have a Material Adverse Effect. 
 (h) Transactions with
Affiliates. Conduct, and cause each of its Material Subsidiaries to conduct, all transactions otherwise permitted under this Agreement with any of their Affiliates other than the Borrower or a wholly-owned Subsidiary of the Borrower on terms
that are fair and reasonable and no less favorable to the Borrower or such Subsidiary than it would obtain in a comparable arm’s-length transaction with a Person not an Affiliate, provided that the Borrower and its Subsidiaries may
transact business with Snap-On Credit LLC and its Subsidiaries on a basis consistent with past practice; and except for the following: 
 (i) sales or leases of goods to Affiliates in the ordinary course of business for less than fair market value, but for not less than cost; 

(ii) transactions in connection with any Permitted Receivables Financing; and 

(iii) transactions permitted under Section 5.02(b). 

(i) Reporting Requirements. Furnish to the Agent: 

(i) as soon as available and in any event within 60 days after the end of each of the first three quarters of each fiscal
year of the Borrower, the Consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such quarter and Consolidated statements of income and cash flows of the Borrower and its Subsidiaries for the period commencing at the end of
the previous fiscal year and ending with the end of such quarter, duly certified (subject to the absence of footnotes and to year-end audit adjustments) by the chief financial officer or treasurer of the Borrower as having been prepared in
accordance with generally accepted accounting principles and certificates of the chief financial officer or treasurer of the Borrower as to compliance (or non-compliance) with the terms of this Agreement and setting forth in reasonable detail the
calculations necessary to demonstrate compliance (or non-compliance) with Section 5.03, provided that in the event of any change in GAAP used in the preparation of such financial statements, the Borrower shall also provide, if necessary
for the determination of compliance with Section 5.03, a statement of reconciliation conforming such financial statements to GAAP; 
 (ii) as soon as available and in any event within 120 days after the end of each fiscal year of the Borrower, a copy of the annual audit report for such year for the Borrower and its Subsidiaries,
containing the Consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such fiscal year and Consolidated statements of income and cash flows of the Borrower and its Subsidiaries for such fiscal year, in each case accompanied
by an opinion by Deloitte & Touche LLP or other nationally recognized independent public accountants and certificates of the chief financial officer or treasurer of the Borrower as to compliance with the terms of this Agreement and setting
forth in reasonable detail the calculations necessary to demonstrate compliance (or non-compliance) with Section 5.03, provided that in the event of any change in GAAP used in the preparation of such financial statements, the Borrower
shall also provide, if necessary for the determination of compliance with Section 5.03, a statement of reconciliation conforming such financial statements to GAAP; 

(iii) as soon as possible and in any event within five Business Days after an executive officer of the Borrower knows or
should have known of the occurrence of each Default continuing on the date of such statement, a statement of the chief financial officer or treasurer of the Borrower setting forth details of such Default and the action that the Borrower has taken
and proposes to take with respect thereto; 

  
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 (iv) promptly after the sending or filing thereof, copies of all reports
that the Borrower sends to its security holders generally as such, and copies of all reports on Forms 10-K, 10-Q and 8-K (or their equivalents) and registration statements (other than the exhibits thereto) that the Borrower or any Subsidiary files
with the Securities and Exchange Commission or any national securities exchange; 
 (v) promptly after the
commencement thereof, notice of all actions and proceedings before any court, governmental agency or arbitrator against the Borrower or any of its Subsidiaries of the type described in Section 4.01(f); and 

(vi) such other information respecting the Borrower or any of its Subsidiaries as any Lender through the Agent may from
time to time reasonably request. 
 Documents required to be delivered pursuant to Section 5.01(i)(i), (i)(ii) or (i)(iv)
may be delivered electronically and, if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet; or (ii) on
which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which the Lenders and the Agent have access (whether a commercial, third-party website or sponsored by the Agent); provided that the
Borrower shall notify (which may be by facsimile or electronic mail) the Agent (which shall notify each Lender) of the posting of any such document and, promptly upon request by the Agent, provide to the Agent by electronic mail an electronic
version (i.e., a soft copy) of any such document specifically requested by the Agent. The Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no
responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

SECTION 5.02. Negative Covenants. So long as any Advance shall remain unpaid or any Lender shall have any Commitment hereunder,
the Borrower will not: 
 (a) Liens, Etc. Create or suffer to exist, or permit any of its Material
Subsidiaries to create or suffer to exist, any Lien on or with respect to any of its properties, whether now owned or hereafter acquired, or assign for security purposes, or permit any of its Material Subsidiaries to assign for security purposes,
any right to receive income, other than: 
 (i) Permitted Liens, 

(ii) purchase money Liens upon or in any property acquired or held by the Borrower or any Material Subsidiary in the
ordinary course of business to secure the purchase price of such property or to secure Debt incurred or guaranteed solely for the purpose of financing the acquisition of such property, or Liens existing on such property at the time of its
acquisition (other than any such Liens created in contemplation of such acquisition) or extensions, renewals or replacements of any of the foregoing for the same or a lesser amount, provided, however, that no such Lien shall extend to
or cover any properties of any character other than the property being acquired (and related property and proceeds thereof), except that separate financing provided by one Person and its affiliates may be cross-collateralized so long as all such
financings are permitted hereunder (it being understood that a Lien covering all assets of a particular type, such as “all inventory” may cover additional assets of the relevant type), and no such extension, renewal or replacement shall
extend to or cover any properties not theretofore subject to the Lien being extended, renewed or replaced (except to the extent permitted above), provided further that the aggregate principal amount of the indebtedness secured by the
Liens referred to in this clause (ii) shall not exceed $50,000,000, 
 (iii) the Liens existing on the
Effective Date and described on Schedule 5.02(a) hereto, 

  
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 (iv) Liens on (or assignments of) property of a Person existing at the time
such Person is merged into or consolidated with the Borrower or any Material Subsidiary of the Borrower or becomes a Material Subsidiary of the Borrower; provided that such Liens or assignments were not created in contemplation of such
merger, consolidation or acquisition and do not extend to any assets other than those of the Person so merged into or consolidated with the Borrower or such Subsidiary or acquired by the Borrower or such Subsidiary, 

(v) other Liens or assignments securing Debt and other obligations in an aggregate principal amount not to exceed, at the
time of incurrence, the greater of (A) $75,000,000 and (B) 2.0% of the Borrower’s consolidated total assets determined as of the date of the most recently delivered financial statements pursuant to Section 5.01(i), 

(vi) Liens or assignments arising in connection with a Permitted Receivables Financing, 

(vii) leases, subleases, licenses or sublicenses granted to others in the ordinary course of business, and other similar
Liens that, in the aggregate, do not materially detract from the value of the same or interfere with the ordinary conduct of the business of the Borrower or its Material Subsidiaries, 

(viii) Liens (x) arising solely by virtue of any statutory or common law provision relating to bankers’ liens,
rights of set-off or similar rights and remedies as to deposit accounts, securities accounts or other funds maintained with a creditor depository institution; provided that (i) such account is not a dedicated cash collateral account and
is not subject to restriction against access by the Borrower or a Subsidiary in excess of those set forth by regulations promulgated by the Board of Governors of the Federal Reserve, and (ii) such account is not intended by the Borrower or any
Subsidiary to provide collateral to the depository institution, and (y) in the ordinary course of business in connection with intercompany cash pooling, interest set-off and/or sweeping arrangements, 

(ix) Liens on the property of the Borrower or any Material Subsidiary securing (i) the non-delinquent performance of
bids, trade contracts (other than for borrowed money), leases, and statutory obligations, (ii) contingent obligations on surety, performance and appeal bonds, and (iii) other non-delinquent obligations of a like nature; in each case,
incurred in the ordinary course of business and treating as non-delinquent any delinquency which is being contested in good faith and by appropriate action, which action has the effect of preventing the forfeiture or sale of the property subject
thereto, 
 (x) Liens securing reimbursement obligations incurred in the ordinary course of business for letters
of credit, which Liens encumber only goods, or documents of title covering goods, which are purchased in transactions for which such letters of credit are issued, 

(xi) Liens securing obligations in respect of capital leases, in each case on assets subject to such leases and documents
directly related thereto, provided that such leases are otherwise permitted hereunder, 
 (xii) any
extension, refinancing, renewal, substitution or replacement of or for any of the foregoing Liens to the extent that the aggregate principal amount of the indebtedness or other obligation or liability secured by the applicable Lien shall not be
increased; provided that the Lien securing such indebtedness or other obligation or liability shall not extend to or cover additional assets (it being understood that a Lien covering all assets of a particular type, such as “all
inventory”, may cover additional assets of the relevant type), 

  
 40 

 (xiii) attachments, appeal bonds, judgments and other similar Liens arising
in connection with court proceedings that do not constitute an Event of Default; 
 (xiv) Liens arising under or
pursuant to any Loan Document, and 
 (xv) Liens on proceeds of any of the assets permitted to be the subject of
any Lien or assignment permitted by this Section 5.02(a). 
 (b) Mergers, Etc. Merge or consolidate
with or into, or convey, transfer, lease or otherwise dispose of (whether in one transaction or in a series of related transactions) all or substantially all of its assets excluding for the avoidance of doubt (i) any transfer of cash, cash
equivalents or marketable securities in the ordinary course of business, (ii) any issuance by a Person of its own equity interests, (iii) any transfer for security purposes that is permitted by Section 5.02(a) and (iv) any
casualty loss, governmental taking or similar disposition) (whether now owned or hereafter acquired) to, any Person, or permit any of its Material Subsidiaries to do so, except that (i) any Material Subsidiary of the Borrower may merge or
consolidate with or into, or transfer, convey, lease or dispose of assets to, any other Subsidiary of the Borrower, (ii) any Material Subsidiary of the Borrower may merge into or transfer, lease, convey or dispose of assets to the Borrower and
(iii) the Borrower may merge into a wholly owned Subsidiary of the Borrower that has no material assets or liabilities for the sole purpose of changing the state of incorporation of the Borrower if the surviving Person shall expressly assume
the liabilities of the Borrower under this Agreement and the Notes, provided, in each case, that no Default shall have occurred and be continuing at the time of such proposed transaction or would result therefrom and provided,
further, that the foregoing shall not restrict (A) the Borrower or its Material Subsidiaries in respect of conveyances, transfers, leases or other dispositions (i) of inventory, or obsolete, used or surplus property in the ordinary
course of business or (ii) in respect of any Permitted Receivables Financing or (B) the sale of all or any portion of the equity interest in, or all or any portion of the assets of, Snap-On Credit LLC or any of its Subsidiaries, so long as
such sale is conducted in an arm’s length transaction and the Borrower (or a Subsidiary of the Borrower) shall receive all of the net proceeds from any such sale. 

(c) Accounting Changes. Make or permit, or permit any of its Material Subsidiaries to make or permit, any change in
accounting policies or reporting practices, except as required or permitted by generally accepted accounting principles. 
 (d) Change in Nature of Business. Make, or permit any of its Material Subsidiaries to make, any material change in the nature of the business of the Borrower and its Subsidiaries taken as a whole
as carried on at the date hereof, it being understood that the foregoing shall not apply to any operations involving the financing of receivables for its customers, its franchisees (and dealers) and its franchisees’ (and dealers’)
customers, or as contemplated by clause (B) of the second proviso of Section 5.02(b). 
 SECTION 5.03. Financial
Covenant. So long as any Advance shall remain unpaid or any Lender shall have any Commitment hereunder, the Borrower will either: 
 (a) Leverage Ratio. Maintain, as at the end of each fiscal quarter, a ratio of Consolidated Debt to the sum of Consolidated Debt plus shareholders’ equity (including non-controlling interests)
of not greater than 0.60 to 1.00; or 
 (b) Debt to EBITDA Ratio. Maintain, as at the end of each fiscal quarter, a ratio
of Consolidated Debt to EBITDA for the four fiscal quarters then ended of not greater than 3.50 to 1.00. 
 ARTICLE VI

 EVENTS OF DEFAULT 

  
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 SECTION 6.01. Events of Default. If any of the following events (“Events of
Default”) shall occur and be continuing: 
 (a) The Borrower shall fail to pay any principal of any
Advance when the same becomes due and payable; or the Borrower shall fail to pay any interest on any Advance or make any other payment of fees or other amounts payable under this Agreement or any Note within three Business Days after the same
becomes due and payable; or 
 (b) Any representation or warranty made by the Borrower herein or in any written
document furnished pursuant hereto shall prove to have been incorrect in any material respect when made; or 

(c)(i) The Borrower shall fail to perform or observe any term, covenant or agreement contained in
Section 5.01(d), (e) or (i), 5.02 or 5.03, or (ii) the Borrower shall fail to perform or observe any other term, covenant or agreement contained in this Agreement on its part to be performed or observed if such failure shall remain
unremedied for 30 days after written notice thereof shall have been given to the Borrower by the Agent or any Lender; or 
 (d) The Borrower or any of its Subsidiaries shall fail to pay any principal of or premium or interest on any Debt (other than Debt owed to the Borrowers or any of its Subsidiaries) that is outstanding in
a principal or net amount of at least $75,000,000 in the aggregate (but excluding Debt outstanding hereunder) of the Borrower or such Subsidiary (as the case may be), when the same becomes due and payable (whether by scheduled maturity, required
prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Debt; or any other event shall occur or condition shall exist under
any agreement or instrument relating to any such Debt and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate, or to permit the acceleration
of, the maturity of such Debt (other than by a regularly scheduled required prepayment or redemption); or any such Debt shall be declared to be due and payable, or required to be prepaid or redeemed (other than by a regularly scheduled required
prepayment or redemption), purchased or defeased, or an offer to prepay, redeem, purchase or defease such Debt shall be required to be made, in each case prior to the stated maturity thereof; or 

(e) The Borrower or any of its Material Subsidiaries shall generally not pay its debts as such debts become due, or shall
admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against the Borrower or any of its Material Subsidiaries seeking to adjudicate it
a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or
seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property and, in the case of any such proceeding instituted against it (but not
instituted by it), either such proceeding shall remain undismissed for a period of 60 days, or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment of a receiver,
trustee, custodian or other similar official for, it or for any substantial part of its property) shall occur; or the Borrower or any of its Material Subsidiaries shall take any corporate action to authorize any of the actions set forth above in
this subsection (e); or 
 (f) Judgments or orders for the payment of money in excess of $75,000,000 in the
aggregate shall be rendered against the Borrower or any of its Material Subsidiaries with respect to which (i) enforcement proceedings shall have been commenced by any creditor upon such judgments or orders or (ii) there shall be any
period of 10 consecutive days during which a stay of enforcement of such judgments or orders, by reason of a pending appeal or otherwise, shall not be in effect; provided, however, that any such judgment or order shall not be an Event
of Default or included in the calculation of the aggregate amount of judgments or orders under this Section 6.01(f) if and for so long as (i) the amount of such judgment or order is covered by a valid and binding policy of insurance
between the defendant and the 

  
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insurer covering payment thereof and (ii) such insurer, which shall be rated at least “A” by A.M. Best Company, has been notified of, and has not disputed the claim made for
payment of, the amount of such judgment or order; or 
 (g) Any non-monetary judgment or order shall be rendered
against the Borrower or any of its Subsidiaries that would be reasonably expected to have a Material Adverse Effect, and there shall be any period of 10 consecutive days during which a stay of enforcement of such judgment or order, by reason of a
pending appeal or otherwise, shall not be in effect; or 
 (h)(i) Any Person or two or more Persons acting
in concert (other than any Related Person) shall have acquired beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934), directly or indirectly, of Voting Stock
of the Borrower (or other securities convertible into such Voting Stock) representing 30% or more of the combined voting power of all Voting Stock of the Borrower; or (ii) during any period of up to 12 consecutive calendar months, commencing
after the date of this Agreement, individuals who at the beginning of such period were directors of the Borrower shall cease for any reason to constitute a majority of the board of directors of the Borrower (except to the extent that individuals who
at the beginning of such period were replaced by individuals (x) elected by a majority of the remaining members of the board of directors of the Borrower or (y) nominated for election by a majority of the remaining members of the board of
directors of the Borrower and thereafter elected as directors by the shareholders of the Borrower); or 
 (i) The
Borrower or any of its ERISA Affiliates shall incur, or shall be reasonably likely to incur liability in excess of $75,000,000 in the aggregate as a result of one or more of the following: (i) the occurrence of any ERISA Event; (ii) the
partial or complete withdrawal of the Borrower or any of its ERISA Affiliates from a Multiemployer Plan; or (iii) the reorganization, insolvency or termination of a Multiemployer Plan; 
 then, and in any such event, the Agent (i) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the obligation of each Lender to make Advances to
be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to the Borrower, declare the Advances, all interest thereon and all other amounts payable
under this Agreement to be forthwith due and payable, whereupon the Advances, all such interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are
hereby expressly waived by the Borrower; provided, however, that in the event of an actual or deemed entry of an order for relief with respect to the Borrower under the Federal Bankruptcy Code, (A) the obligation of each Lender to
make Advances shall automatically be terminated and (B) the Advances, all such interest and all such amounts shall automatically become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are
hereby expressly waived by the Borrower. 
 ARTICLE VII 
 THE AGENT 
 SECTION 7.01. Appointment and Authority. Each of the Lenders
hereby irrevocably appoints JPMCB to act on its behalf as the Agent hereunder and under the other Loan Documents and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms
hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Agent and the Lenders, and the Borrower shall not have rights as a third-party
beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Agent is not intended to connote any fiduciary or
other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.

  
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 SECTION 7.02. Rights as a Lender. The Person serving as the Agent hereunder shall
have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Agent, and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless
the context otherwise requires, include the Person serving as the Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other
advisory capacity for, and generally engage in any kind of business with, the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Agent hereunder and without any duty to account therefor to the Lenders. 

SECTION 7.03. Exculpatory Provisions. (a) The Agent shall not have any duties or obligations except those expressly set forth
herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Agent: 
 (i) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 

(ii) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated hereby or by the other Loan Documents that the Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided
for herein or in the other Loan Documents); provided that the Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is contrary to any Loan Document or applicable
law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any
Debtor Relief Law; and 
 (iii) shall not, except as expressly set forth herein and in the other Loan Documents,
have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Agent or any of its Affiliates in any
capacity. 
 (b) The Agent shall not be liable vis-à-vis the Lenders for any action taken or not taken by it
(i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Agent shall believe in good faith shall be necessary, under the circumstances as provided in
Sections 8.01 and Article VI), or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Agent shall be deemed not to have knowledge of
any Default unless and until notice describing such Default is given to the Agent in writing by the Borrower or a Lender. 
 (c)
The Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any
certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or
the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in
Article III or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Agent. 

SECTION 7.04. Reliance by Agent. The Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any
notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) reasonably believed by it in good faith to be genuine and to have
been signed, sent or otherwise authenticated by the proper Person. The Agent also may rely upon any statement made to it orally or by telephone and reasonably believed by it in good faith to have been made by the proper Person, and shall not incur
any liability for relying thereon. In determining compliance with any condition hereunder to the making of an Advance that by its terms must be 

  
 44 

 
fulfilled to the satisfaction of a Lender, the Agent may presume that such condition is satisfactory to such Lender unless the Agent shall have received notice to the contrary from such Lender
prior to the making of such Advance. The Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it with reasonable care, and shall not be liable for any action taken or not
taken by it in accordance with the advice of any such counsel, accountants or experts. 
 SECTION 7.05. Indemnification.
The Lenders agree to indemnify the Agent (to the extent not reimbursed by the Borrower), ratably according to the respective principal amounts of the Revolving Credit Advances then owed to each of them (or if no Revolving Credit Advances are at the
time outstanding, ratably according to the respective amounts of their Commitments), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature
whatsoever that may be imposed on, incurred by, or asserted against the Agent in any way relating to or arising out of this Agreement or any action taken or omitted by the Agent under this Agreement (collectively, the “Indemnified
Costs”), provided that no Lender shall be liable for any portion of the Indemnified Costs resulting from the Agent’s gross negligence or willful misconduct. Without limitation of the foregoing, each Lender agrees to reimburse
the Agent promptly upon demand for its ratable share of any out-of-pocket expenses (including reasonable counsel fees) incurred by the Agent in connection with the preparation, execution, delivery, administration, modification, amendment or
enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, to the extent that the Agent is not reimbursed for such expenses by the Borrower. In the
case of any investigation, litigation or proceeding giving rise to any Indemnified Costs, this Section 7.05 applies whether any such investigation, litigation or proceeding is brought by the Agent, any Lender or a third party. 

SECTION 7.06. Delegation of Duties. The Agent may perform any and all of its duties and exercise its rights and powers hereunder
or under any other Loan Document by or through any one or more sub agents appointed by the Agent with reasonable care. The Agent and any such sub agent may perform any and all of its duties and exercise its rights and powers by or through their
respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub agent and to the Related Parties of the Agent and any such sub agent, and shall apply to their respective activities in connection with the
syndication of the loans under this Agreement as well as activities as Agent. The Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and
non appealable judgment that the Agent acted with gross negligence or willful misconduct in the selection of such sub agents. 

SECTION 7.07. Resignation of Agent. (a) The Agent may at any time give notice of its resignation to the Lenders and the
Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the consent of the Borrower (so long as no Event of Default has occurred and is continuing), to appoint a successor, which shall be a bank with
an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders (with the consent of the Borrower, if required) and shall have accepted
such appointment within 30 days after the retiring Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but shall not
be obligated to), on behalf of the Lenders, appoint a successor Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the
Resignation Effective Date. 
 (b) If the Person serving as Agent is a Defaulting Lender pursuant to clause (d) of the
definition thereof, the Required Lenders may, to the extent permitted by applicable law, by notice in writing to the Borrower and such Person remove such Person as Agent and, with the consent of the Borrower (so long as no Event of Default has
occurred and is continuing), appoint a successor. If no such successor shall have been so appointed by the Required Lenders (with the consent of the Borrower, if required) and shall have accepted such appointment within 30 days (or such earlier day
as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date. 

(c) With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (i) the retiring or removed Agent
shall be discharged from its duties and obligations hereunder and under the other 

  
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Loan Documents in its capacity as Agent (except that in the case of any collateral security held by the Agent on behalf of the Lenders under any of the Loan Documents, the retiring or removed
Agent shall continue to hold such collateral security until such time as a successor Agent is appointed) and (ii) all payments, communications and determinations provided to be made by, to or through the Agent shall instead be made by or to
each Lender directly, until such time, if any, as the Required Lenders appoint a successor Agent as provided for above. Upon the acceptance of a successor’s appointment as Agent hereunder, such successor shall succeed to and become vested with
all of the rights, powers, privileges and duties of the retiring or removed Agent, and the retiring or removed Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents. The fees payable by the
Borrower to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring or removed Agent’s resignation or removal hereunder and under the other Loan
Documents, the provisions of this Article and Section 8.04 shall continue in effect for the benefit of such retiring or removed Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by
any of them while the retiring or removed Agent was acting as Agent. 
 SECTION 7.08. Non-Reliance on Agent and Other
Lenders. Each Lender acknowledges that it has, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit
analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it
shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

 SECTION 7.09. Other Agents. Each Lender hereby acknowledges that no syndication agent and no documentation agent nor
any other Lender designated as any “Agent” (other than the Agent) on the signature pages or the cover hereof has any liability hereunder other than in its capacity as a Lender. 

ARTICLE VIII 

MISCELLANEOUS 

SECTION 8.01. Amendments, Etc. No amendment or waiver of any provision of this Agreement or the Revolving Credit Notes, nor
consent to any departure by the Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Required Lenders and the Borrower, and then such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given; provided, however, that no amendment, waiver or consent shall: (a) waive any of the conditions specified in Section 3.01 without the written consent of each Lender,
(b) other than in accordance with Section 2.18, increase the Commitments of any Lender or subject any Lender to any additional obligations without the written consent of such Lender, (c) reduce the principal of, or interest on, the
Revolving Credit Advances or any fees or other amounts payable hereunder without the consent of each Lender directly affected thereby, (d) other than in accordance with Section 2.19, postpone any date fixed for any payment of principal of,
or interest on, the Revolving Credit Advances or any fees or other amounts payable hereunder without the written consent of each Lender directly affected thereby, (e) change the percentage of the Commitments or of the aggregate unpaid principal
amount of the Revolving Credit Advances, or the number of Lenders, that shall be required for the Lenders or any of them to take any action hereunder, or the definition of “Required Lenders”, without the consent of each Lender or
(f) amend this Section 8.01 without the consent of each Lender; and provided further that no amendment, waiver or consent shall, unless in writing and signed by the Agent in addition to the Lenders required above to take such
action, affect the rights or duties of the Agent under this Agreement or any Note. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except
that the Commitments of such Defaulting Lender may not be increased or extended without the consent of such Lender. 

  
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 SECTION 8.02. Notices, Etc. (a) Notice Generally. Except in the case of
notices and other communications expressly permitted to be given by telephone (and except as provided in paragraph (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by facsimile as follows: 
 (i) if
to the Borrower, to it at 2801 80th Street, Kenosha,
Wisconsin 53141, Attention: Jeffrey F. Kostrzewa, Vice President & Treasurer, (Facsimile No. (262) 656-5353; Telephone No. (262) 656-5677) and Irwin M. Shur, General Counsel, (Facsimile No. (262) 656-5127; Telephone No.
(262) 656-5560) ; 
 (ii) if to the Agent, to JPMorgan Loan Services, JPMorgan Chase Bank, 10 South Dearborn, 7th Floor,
Chicago, IL 60603, Tel: 312-385-7084, Fax: 888-292-9533, email: jpm.agency.servicing.4@jpmchase.com, Attention: Nanette Wilson, with a copy, in the case of any Notice of Borrowing or Notice of Competitive Bid Borrowing to be denominated in a Foreign
Currency, to JPMorgan Europe Limited, 125 London Wall, London EC2Y 5AJ Tele no 44 207 777 3092 Fax no 44 207 777 2360 Attention Loan and Agency Manager; and 
 (iii) if to a Lender, to it at its address (or facsimile number) set forth in its Administrative Questionnaire. 
 Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile shall be deemed to have been given
when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic communications, to
the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b). 
 (b) Electronic
Communications. Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communication (including e mail and Internet or intranet websites) pursuant to procedures approved by the Agent. The Agent or
the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular
notices or communications. 
 Unless the Agent otherwise prescribes, (i) notices and other communications sent to an e-mail
address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), and
(ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing clause (i), of notification that such
notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice, email or other communication is not sent during the normal business hours of the
recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient. 
 (c) Change of Address, etc. Any party hereto may change its address or facsimile number for notices and other communications hereunder by notice to the other parties hereto. 

(d) Platform. 
 (i) The Borrower agrees that the Agent may, but shall not be obligated to, make the Communications (as defined below) available to the other Lenders by posting the Communications on Debt Domain,
Intralinks, Syndtrak or a substantially similar electronic transmission system (the “Platform”). 
 (ii) The Platform is provided “as is” and “as available.” The Agent Parties (as defined below) do not warrant the adequacy of the Platform and expressly disclaim liability for errors
or omissions in the Communications. No warranty of any kind, express, implied or statutory, 

  
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including, without limitation, any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by
any Agent Party in connection with the Communications or the Platform. In no event shall the Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender or any other Person
or entity for damages of any kind, including, without limitation, direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of the Borrower’s or the Agent’s
transmission, in accordance with the terms of this Agreement, of communications through the Platform. “Communications” means, collectively, any notice, demand, communication, information, document or other material that the Borrower
provides to the Agent pursuant to any Loan Document or the transactions contemplated therein which is distributed to the Agent or any Lender by means of electronic communications pursuant to this Section, including through the Platform. 

SECTION 8.03. No Waiver; Remedies. No failure on the part of any Lender or the Agent to exercise, and no delay in exercising, any
right hereunder or under any Note shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law. 
 SECTION 8.04. Costs and Expenses. (a) The Borrower
agrees to pay promptly (and in any event within 15 days) after demand all reasonable costs and expenses of the Agent in connection with the preparation, execution, delivery, administration, modification and amendment of this Agreement, the Notes and
the other documents to be delivered hereunder, including, without limitation, (A) all due diligence, syndication (including printing, distribution and bank meetings), transportation, computer, duplication, appraisal, consultant, and audit
expenses and (B) the reasonable fees and expenses of one (subject to conflicts issues) primary counsel for the Agent and one (subject to conflicts issues) local counsel in each relevant jurisdiction engaged by such primary counsel with respect
thereto and with respect to advising the Agent as to its rights and responsibilities under this Agreement. The Borrower further agrees to pay on demand all costs and expenses of the Agent and the Lenders, if any (including, without limitation,
reasonable counsel fees and expenses), in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of this Agreement, the Notes and the other documents to be delivered hereunder, including, without limitation,
reasonable fees and expenses of counsel for the Agent and each Lender in connection with the enforcement of rights under this Section 8.04(a). 
 (b) The Borrower agrees to indemnify and hold harmless the Agent and each Lender and each of their Affiliates and their officers, directors, employees, agents and advisors (each, an “Indemnified
Party”) from and against any and all claims, damages, losses, liabilities and expenses (including, without limitation, reasonable fees and expenses of counsel) incurred by or asserted or awarded against any Indemnified Party, in each case
arising out of or in connection with or by reason of (including, without limitation, in connection with any investigation, litigation or proceeding or preparation of a defense in connection therewith) (i) the Notes, this Agreement, any of the
transactions contemplated herein or the actual or proposed use of the proceeds of the Advances or (ii) the actual or alleged presence of Hazardous Materials on any property of the Borrower or any of its Subsidiaries, except to the extent
(x) such claim, damage, loss, liability or expense resulted from such Indemnified Party’s material breach of contract, bad faith, gross negligence or willful misconduct, (y) such claim, damage, loss, liability or expense relate to any
litigation or proceeding solely between or among Indemnified Parties not arising from any act or omission by the Borrower or any of its Affiliates or (z) except to the extent payable under Section 8.04(a), such claim, damage loss,
liability or expense arises in connection with the preparation, execution, delivery, administration, modification or amendment of this Agreement. In the case of an investigation, litigation or other proceeding to which the indemnity in this
Section 8.04(b) applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by the Borrower, its directors, shareholders or creditors or an Indemnified Party or any other Person or any
Indemnified Party is otherwise a party thereto and whether or not the transactions contemplated hereby are consummated. The Borrower also agrees not to assert any claim for special, indirect, consequential or punitive damages against the Agent, any
Lender, any of their Affiliates, or any of their respective directors, officers, employees, attorneys and agents, on any theory of liability, arising out of or otherwise relating to the Notes, this Agreement, any of the transactions contemplated
herein or the actual or proposed use of the proceeds of the Advances. 

  
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 (c) If any payment of principal of, or Conversion of, any Eurocurrency Rate Advance, LIBO
Rate Advance or Local Rate Advance is made by the Borrower to or for the account of a Lender other than on the last day of the Interest Period for such Advance, as a result of a payment or Conversion pursuant to Section 2.08(d) or (e), 2.10 or
2.12, acceleration of the maturity of the Notes pursuant to Section 6.01 or for any other reason, or by an Eligible Assignee to a Lender other than on the last day of the Interest Period for such Advance upon an assignment of rights and
obligations under this Agreement pursuant to Section 8.07 as a result of a demand by the Borrower pursuant to Section 2.21, the Borrower shall, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the
account of such Lender any amounts required to compensate such Lender for any additional losses, costs or expenses that it may reasonably incur as a result of such payment or Conversion, including, without limitation, any loss (including loss of
anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund or maintain such Advance. 
 (d) Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements and obligations of the Borrower contained in Sections 2.11, 2.14 and 8.04 shall survive the
payment in full of principal, interest and all other amounts payable hereunder and under the Notes. 
 SECTION 8.05. Right of
Set-off. Upon (a) the occurrence and during the continuance of any Event of Default and (b) the making of the request or the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Advances due and
payable pursuant to the provisions of Section 6.01, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or
special, time or demand, provisional or final, but excluding any deposits held by the Borrower in any trustee, agency, fiduciary or other capacity for the benefit of one or more third parties) at any time held and other indebtedness at any time
owing by such Lender or such Affiliate (but not including any insurance premiums) to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement and the Note
held by such Lender, whether or not such Lender shall have made any demand under this Agreement or such Note and although such obligations may be unmatured. Each Lender agrees promptly to notify the Borrower after any such set-off and application,
provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of each Lender and its Affiliates under this Section are in addition to other rights and remedies (including, without
limitation, other rights of set-off) that such Lender and its Affiliates may have. 
 SECTION 8.06. Binding Effect. This
Agreement shall become effective upon satisfaction of the conditions precedent set forth in Section 3.01 and when it shall have been executed by the Borrower and the Agent and when the Agent shall have been notified by each Initial Lender that
such Initial Lender has executed it and thereafter shall be binding upon and inure to the benefit of the Borrower, the Agent and each Lender and their respective successors and assigns, except that the Borrower shall not have the right to assign its
rights hereunder or any interest herein without the prior written consent of all Lenders (and any other attempted assignment or transfer by any party hereto shall be null and void). 

SECTION 8.07. Assignments and Participations. (a) Successors and Assigns Generally. No Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation in accordance with the provisions of paragraph (d) of
this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of paragraph (e) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing
in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in paragraph (d) of this Section
and, to the extent expressly contemplated hereby, the Related Parties of each of the Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitment and the Advances at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

  
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 (i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and/or the
Advances at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B) in any case not described in paragraph (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for
this purpose includes Advances outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Advances of the assigning Lender subject to each such assignment (determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date) shall not be less than $5,000,000 unless each of the Agent and, so
long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed). 
 (ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with
respect to the Advance or the Commitment assigned. 
 (iii) Required Consents. No consent shall be required for any
assignment except to the extent required by paragraph (b)(i)(B) of this Section and, in addition: 
 (A) the
consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) an Event of Default has occurred and is continuing at the time of such assignment, or (y) such assignment is to a Lender, an
Affiliate of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Agent within seven Business Days after having received
notice thereof; and 
 (B) the consent of the Agent (such consent not to be unreasonably withheld or delayed)
shall be required for assignments if such assignment is to a Person that is not a Lender with a Commitment, an Affiliate of such Lender or an Approved Fund with respect to such Lender. 

(iv) Assignment and Assumption. The parties to each assignment shall execute and deliver to the Agent an Assignment and Assumption,
together with a processing and recordation fee of $3,500; provided that the Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall
deliver to the Agent an Administrative Questionnaire. 
 (v) No Assignment to Certain Persons. No such assignment shall be
made to (A) the Borrower or any of the Borrower’s Affiliates or Subsidiaries or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing
Persons described in this clause (B). 
 (vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural Person. 
 (vii) Certain Additional Payments. In connection with any assignment of rights and obligations of any
Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Agent in an aggregate amount
sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations 

  
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or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Agent, the applicable pro rata share of Advances previously requested but not
funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Agent and each other Lender
hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Advances in accordance with its Ratable Share. Notwithstanding the foregoing, in the event that any assignment of rights and
obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of
this Agreement until such compliance occurs. 
 Subject to acceptance and recording thereof by the Agent pursuant to paragraph (c) of this
Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an
Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 2.12 and 8.04 with respect
to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or
release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be
treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section. 
 (c) Register. The Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its offices in the United States a copy of each Assignment and Assumption delivered to
it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Advances owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).
The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. Each Lender that sells a participation, acting solely for this purpose as an
agent of the Borrower, shall maintain a register for the recordation of the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in its rights and other obligations under this
Agreement (the “Participation Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participation Register to any Person (including the identity of any participant or any
information relating to a participant’s interest in any commitments, loans or its other obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such commitment, loan or other obligation is
in registered form under Section 5f.103(e) of the United States Treasury Regulations. 
 (d) Participations. Any
Lender may at any time, without the consent of, or notice to, the Borrower or the Agent, sell participations to any Person (other than a natural Person or the Borrower or any of the Borrower’s Affiliates) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Advances owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Borrower, the Agent and Lenders shall continue to
deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 7.05 with respect to any
payments made by such Lender to its Participant(s). 
 Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide
that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in 

  
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the first proviso of Section 8.01 that directly affects such Participant. The Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.11 and 2.14 (subject to
the requirements and limitations therein, including the requirements under Section 2.14(e) (it being understood that the documentation required under Section 2.14(e) shall be delivered to the participating Lender)) .to the same extent as
if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant (i) agrees to be subject to the provisions of Sections 2.21 as if it were an assignee under
paragraph (b) of this Section and (ii) shall not be entitled to receive any greater payment under Sections 2.11 or 2.14 with respect to such participation, that its participating Lender would have been entitled to receive, except to the
extent such entitlement to receive a greater payment results from a change in law that occurs after the Participant acquired the applicable participation. To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 8.05 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.15 as though it were a Lender. 
 (e) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any
pledge or assignment to secure obligations to a Federal Reserve Bank or other central banking authority; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee
or assignee for such Lender as a party hereto. 
 SECTION 8.08. Confidentiality. Each of the Agent and the Lenders shall
maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed
of the confidential nature of such Information and instructed to keep such Information confidential on terms no less restrictive then as provided herein); (b) to the extent required or requested by any regulatory authority purporting to have
jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners); (c) to the extent required by applicable laws or regulations or by any subpoena or
similar legal process; (d) to any other party hereto; (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the
enforcement of rights hereunder or thereunder; (f) subject to an agreement for the benefit of the Borrower containing provisions substantially the same as those of this Section, to any assignee of or Participant in, or any prospective assignee
of or Participant in, any of its rights and obligations under this Agreement; (g) on a confidential basis to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or the facility under this Agreement or
(ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the facility under this Agreement; (h) with the written consent of the Borrower; or (i) to the extent
such Information (x) becomes publicly available other than as a result of a breach of this Section, or (y) becomes available to the Agent, any Lender or any of their respective Affiliates on a nonconfidential basis from a source other than
the Borrower. 
 For purposes of this Section, “Information” means all information received from or on behalf
of the Borrower or any of its Subsidiaries (including information provided by the Agent on such Borrower’s or Subsidiary’s behalf), other than any such information that is available to the Agent or any Lender on a nonconfidential basis
prior to disclosure by the Borrower or any of its Subsidiaries. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 
 SECTION 8.09. Governing Law. This Agreement and the Notes shall be governed by, and construed in accordance with, the laws of the State of New York. 

SECTION 8.10. Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement
by telecopier or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 8.11. Judgment. (a) If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder in Dollars into another currency, the parties hereto agree, to
the fullest 

  
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extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Agent could purchase Dollars with such other
currency at JPMCB’s principal office in London at 11:00 A.M. (London time) on the Business Day preceding that on which final judgment is given. 
 (b) If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder in a Foreign Currency into Dollars, the parties agree to the fullest extent that they may
effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Agent could purchase such Foreign Currency with Dollars at JPMCB’s principal office in London at 11:00 A.M. (London time)
on the Business Day preceding that on which final judgment is given. 
 (c) The obligation of the Borrower in respect of any sum
due from it in any currency (the “Primary Currency”) to any Lender or the Agent hereunder shall, notwithstanding any judgment in any other currency, be discharged only to the extent that on the Business Day following receipt by such
Lender or the Agent (as the case may be), of any sum adjudged to be so due in such other currency, such Lender or the Agent (as the case may be) may in accordance with normal banking procedures purchase the applicable Primary Currency with such
other currency; if the amount of the applicable Primary Currency so purchased is less than such sum due to such Lender or the Agent (as the case may be) in the applicable Primary Currency, the Borrower agrees, as a separate obligation and
notwithstanding any such judgment, to indemnify such Lender or the Agent (as the case may be) against such loss, and if the amount of the applicable Primary Currency so purchased exceeds such sum due to any Lender or the Agent (as the case may be)
in the applicable Primary Currency, such Lender or the Agent (as the case may be) agrees to remit to the Borrower such excess. 

SECTION 8.12. Jurisdiction, Etc. (a) Each of the parties hereto irrevocably and unconditionally agrees that it will not
commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the Agent, any Lender or any Related Party of the foregoing in any way relating to this
Agreement or any Note or the transactions relating hereto or thereto, in any forum other than (i) the courts of the State of New York sitting in New York County, and of the United States District Court of the Southern District of New York, or
(ii) any state or federal court sitting in Chicago, Illinois, and any appellate court from any thereof, and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that all claims in
respect of any such action, litigation or proceeding may be heard and determined in such New York or Illinois state court, or, to the fullest extent permitted by applicable law, in such federal court. Each of the parties hereto agrees that a final
judgment in any such action, litigation or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or in any Note shall affect any right that
the Agent, any Lender or the Borrower may otherwise have to bring any action or proceeding relating to this Agreement or any Note against any Person or its properties in the courts of any jurisdiction to enforce a judgment rendered by a New York or
Illinois state or federal court. The Borrower hereby further irrevocably consents to the service of process in any action or proceeding in such courts by the mailing thereof by any parties hereto by registered or certified mail, postage prepaid with
an additional notice by telecopier or by reputable overnight delivery service, to the Borrower at its address specified pursuant to Section 8.02. 
 (b) Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of
any suit, action or proceeding arising out of or relating to this Agreement or the Notes in any New York or Illinois state or federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 SECTION 8.13.
Substitution of Currency. If a change in any Foreign Currency occurs pursuant to any applicable law, rule or regulation of any governmental, monetary or multi-national authority, this Agreement (including, without limitation, the definitions
of Eurocurrency Rate and LIBO Rate) will be amended to the extent determined by the Agent (acting reasonably and in consultation with the Borrower) to be necessary to reflect the change in currency and to put the Lenders and the Borrower in the same
position, so far as possible, that they would have been in if no change in such Foreign Currency had occurred. No such change in currency nor any economic consequences resulting therefrom shall (a) give rise to any right to terminate
prematurely, contest, cancel, rescind, alter, modify or renegotiate the provisions of this Agreement or (b) discharge, excuse or otherwise affect the performance of any obligations of any of the Borrower or the Lenders under this Agreement.

  
 53 

 SECTION 8.14. Patriot Act Notice. Each Lender and the Agent (for itself and not on
behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56, signed into law
October 26, 2001 (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such
Lender or the Agent, as applicable, to identify the Borrower in accordance with the Patriot Act. The Borrower shall provide such information and take such actions as are reasonably requested by the Agent or any Lenders in order to assist the Agent
and the Lenders in maintaining compliance with the Patriot Act. 
 SECTION 8.15. Termination of Existing Credit
Agreement. The Borrower and Lenders that are parties to the Existing Credit Agreement, which Lenders constitute the “Required Lenders” under and as defined in the Existing Credit Agreement, hereby waive the requirement for prior notice
of the termination of the “Commitments” (as defined in the Existing Credit Agreement) and the prepayment of the “Loans” (as defined in the Existing Credit Agreement) and agree that on the Effective Date, the Existing Credit
Agreement shall terminate and be of no further force or effect (except for provisions thereof that by their terms survive termination thereof). 
 SECTION 8.16. Waiver of Jury Trial. Each of the Borrower, the Agent and the Lenders hereby irrevocably waives all right to trial by jury in any action, proceeding or counterclaim (whether based
on contract, tort or otherwise) arising out of or relating to this Agreement or the Notes or the actions of the Agent or any Lender in the negotiation, administration, performance or enforcement thereof. 

 

  
 54 

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

			
	SNAP-ON INCORPORATED
		
	By:	 	/s/ Jeffrey F. Kostrzewa
		 	Name: Jeffrey F. Kostrzewa
		 	Title: Vice President and Treasurer

  

			
	 THE AGENT
  

JPMORGAN CHASE BANK, N.A.

        as Agent

		
	By:	 	/s/ Sabir A. Hashmy
		 	Name: Sabir A. Hashmy
		 	Title: Sr. Vice President

  

			
	 INITIAL LENDERS
  

JPMORGAN CHASE BANK, N.A.

		
	By:	 	/s/ Sabir A. Hashmy
		 	Name: Sabir A. Hashmy
		 	Title: Sr. Vice President

  

			
	CITIBANK, N.A.
		
	By:	 	/s/ Janice D’Arco
		 	Name: Janice D’Arco
		 	Title: Vice President

  

			
	MIZUHO CORPORATE BANK (USA)
		
	By:	 	/s/ David Lim
		 	Name: David Lim
		 	Title: Senior Vice President

  

			
	UBS LOAN FINANCE LLC
		
	By:	 	/s/ Mary E. Evans
		 	Name: Mary E. Evans
		 	Title: Associate Director
		
	By:	 	/s/ Irja R. Otsa
		 	Name: Irja R. Otsa
		 	Title: Associate Director

  

			
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	/s/ Matthew J. Schulz
		 	Name: Matthew J. Schulz
		 	Title: Vice President

 [Signature Page] 

 
			
	BARCLAYS BANK PLC
		
	By:	 	/s/ Ben Hickes
		 	Name: Ben Hickes
		 	Title: Authorized Signatory

  

			
	WELLS FARGO BANK, N.A.
		
	By:	 	/s/ Steven Buehler
		 	Name: Steven Buehler
		 	Title: Managing Director

  

			
	BANK OF CHINA, NEW YORK BRANCH
		
	By:	 	/s/ Haifeng Xu
		 	Name: Haifeng Xu
		 	Title: Assistant General Manager

  

			
	COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES
		
	By:	 	/s/ Patrick Hartweger
		 	Name: Patrick Hartweger
		 	Title: Managing Director
		
	By:	 	/s/ Michael Ravelo
		 	Name: Michael Ravelo
		 	Title: Vice President

  

			
	HANDELSBANKEN AB (publ.) NEW YORK BRANCH
		
	By:	 	/s/ Anders Abelson
		 	Name: Anders Abelson
		 	Title: Vice President
		
	By:	 	/s/ Richard Johnson
		 	Name: Richard Johnson
		 	Title: Senior Vice President

  

			
	ROYAL BANK OF CANADA
		
	By:	 	/s/ Meredith Majesty
		 	Name: Meredith Majesty
		 	Title: Authorized Signatory

 [Signature Page] 

 
			
	THE NORTHERN TRUST COMPANY
		
	By:	 	/s/ Patrick Cowan
		 	Name: Patrick Cowan
		 	Title: Vice President

  

			
	INTESA SANPAOLO S.P.A.
		
	By:	 	/s/ Robert Wurster
		 	Name: Robert Wurster
		 	Title: Senior Vice President
		
	By:	 	/s/ Sergio Maggioni
		 	Name: Sergio Maggioni
		 	Title: First Vice President & Head of Business

 [Signature Page] 

 SCHEDULE I 
 TO THE 
 AMENDMENT AND RESTATEMENT 

COMMITMENTS 
  

					
	 Name of Initial Lender
	  	Commitment	 
	 JPMorgan Chase Bank, N.A.
	  	$	62,500,000	  
	 Citibank, N.A.
	  	$	62,500,000	  
	 Mizuho Corporate Bank (USA)
	  	$	50,000,000	  
	 UBS Loan Finance LLC
	  	$	50,000,000	  
	 U.S. Bank National Association
	  	$	50,000,000	  
	 Barclays Bank PLC
	  	$	40,000,000	  
	 Wells Fargo Bank, N.A.
	  	$	40,000,000	  
	 Bank of China, New York Branch
	  	$	25,000,000	  
	 Commerzbank AG, New York and Grand Cayman Branches
	  	$	25,000,000	  
	 Handelsbanken AB (publ.) New York Branch
	  	$	25,000,000	  
	 Royal Bank of Canada
	  	$	25,000,000	  
	 The Northern Trust Company
	  	$	25,000,000	  
	 Intesa Sanpaolo S.p.A.
	  	$	20,000,000	  
		
	 Total Commitment
	  	= U.S. $	500,000,000	  

  

 Schedule 1.01 
 MANDATORY COST FORMULAE 
  

	1.	The Mandatory Cost (to the extent applicable) is an addition to the interest rate to compensate Lenders for the cost of compliance with: 

 

	 	(a)	the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions); or

  

	 	(b)	the requirements of the European Central Bank. 

  

	2.	On the first day of each Interest Period (or as soon as possible thereafter) the Agent shall calculate, as a percentage rate, a rate (the “Additional Cost
Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Agent as a weighted average of the Lenders’ Additional Cost Rates (weighted in proportion to the percentage
participation of each Lender in the relevant Advance) and will be expressed as a percentage rate per annum. The Agent will, at the request of the Borrower or any Lender, deliver to the Borrower or such Lender as the case may be, a statement setting
forth the calculation of any Mandatory Cost. 

  

	3.	The Additional Cost Rate for any Lender lending from a Lending Office in a Participating Member State will be the percentage notified by that Lender to the Agent. This
percentage will be certified by such Lender in its notice to the Agent to be its reasonable determination of the cost (expressed as a percentage of such Lender’s participation in all Advances made from such Lending Office) of complying with the
minimum reserve requirements of the European Central Bank in respect of Advances made from that Lending Office. 

  

	4.	The Additional Cost Rate for any Lender lending from a Lending Office in the United Kingdom will be calculated by the Agent as follows: 

 

	 	(a)	in relation to any Advance in Sterling: 

  

							
		 	
AB + C (B – D) + E × 0.01
	 	  per cent per annum	  	
		 	100 – (A + C)	 	  

  

	 	(b)	in relation to any Advance in any currency other than Sterling: 

  

							
		 	 E × 0.01
	 	  per cent per annum	  	
		 	300	 	  

 Where: 
  

	 	“A”	is the percentage of Eligible Liabilities (assuming these to be in excess of any stated minimum) which that Lender is from time to time required to maintain as an
interest free cash ratio deposit with the Bank of England to comply with cash ratio requirements. 

  

	 	“B”	is the percentage rate of interest (excluding the Applicable Rate, the Mandatory Cost and any interest charged on overdue amounts pursuant to the first sentence of
Section 2.08(b) and, in the case of interest (other than on overdue amounts) charged at the Default Rate, without counting any increase in interest rate effected by the charging of the Default Rate) payable for the relevant Interest
Period of such Advance. 

  

	 	“C”	is the percentage (if any) of Eligible Liabilities which that Lender is required from time to time to maintain as interest bearing Special Deposits with the Bank of
England. 

	 	“D”	is the percentage rate per annum payable by the Bank of England to the Agent on interest bearing Special Deposits. 

 

	 	“E”	is designed to compensate Lenders for amounts payable under the Fees Rules and is calculated by the Agent as being the average of the most recent rates of charge
supplied by the Lenders to the Agent pursuant to paragraph 7 below and expressed in pounds per £1,000,000. 

  

	5.	For the purposes of this Schedule: 

  

	 	(a)	“Eligible Liabilities” and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of
England Act 1998 or (as may be appropriate) by the Bank of England; 

  

	 	(b)	“Fees Rules” means the rules on periodic fees contained in the FSA Supervision Manual or such other law or regulation as may be in force from time to
time in respect of the payment of fees for the acceptance of deposits; 

  

	 	(c)	“Fee Tariffs” means the fee tariffs specified in the Fees Rules under the activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated
fee required pursuant to the Fees Rules but taking into account any applicable discount rate); and 

  

	 	(d)	“Tariff Base” has the meaning given to it in, and will be calculated in accordance with, the Fees Rules. 

 

	6.	In application of the above formulae, A, B, C and D will be included in the formulae as percentages (i.e. 5% will be included in the formula as 5 and not as
0.05). A negative result obtained by subtracting D from B shall be taken as zero. The resulting figures shall be rounded to four decimal places. 

  

	7.	If requested by the Agent or the Borrower, each Lender with a Lending Office in the United Kingdom or a Participating Member State shall, as soon as practicable after
publication by the Financial Services Authority, supply to the Agent and the Borrower, the rate of charge payable by such Lender to the Financial Services Authority pursuant to the Fees Rules in respect of the relevant financial year of the
Financial Services Authority (calculated for this purpose by such Lender as being the average of the Fee Tariffs applicable to such Lender for that financial year) and expressed in pounds per £1,000,000 of the Tariff Base of such Lender.

  

	8.	Each Lender shall supply any information required by the Agent for the purpose of calculating its Additional Cost Rate. In particular, but without limitation, each
Lender shall supply the following information in writing on or prior to the date on which it becomes a Lender: 

  

	 	(a)	the jurisdiction of the Lending Office out of which it is making available its participation in the relevant Advance; and 

 

	 	(b)	any other information that the Agent may reasonably require for such purpose. 

 Each Lender shall promptly notify the Agent in writing of any change to the information provided by it pursuant to this paragraph. 

 

	9.	The percentages of each Lender for the purpose of A and C above and the rates of charge of each Lender for the purpose of E above shall be determined by the Agent based
upon the information supplied to it pursuant to paragraphs 7 and 8 above and on the assumption that, unless a Lender notifies the Agent to the contrary, each Lender’s obligations in relation to cash ratio deposits and Special
Deposits are the same as those of a typical bank from its jurisdiction of incorporation with a Lending Office in the same jurisdiction as its Lending Office. 

  
 2 

	10.	The Agent shall have no liability to any Person if such determination results in an Additional Cost Rate which over- or under-compensates any Lender and shall be
entitled to assume that the information provided by any Lender pursuant to paragraphs 3, 7 and 8 above is true and correct in all respects. 

 

	11.	The Agent shall distribute the additional amounts received as a result of the Mandatory Cost to the Lenders on the basis of the Additional Cost Rate for each Lender
based on the information provided by each Lender pursuant to paragraphs 3, 7 and 8 above. 

  

	12.	Any determination by the Agent pursuant to this Schedule in relation to a formula, the Mandatory Cost, an Additional Cost Rate or any amount payable to a Lender shall,
in the absence of manifest error, be conclusive and binding on all parties hereto. 

  

	13.	The Agent may from time to time, after consultation with the Borrower and the Lenders, determine and notify to all parties any amendments which are required to be made
to this Schedule in order to comply with any change in law, regulation or any requirements from time to time imposed by the Bank of England, the Financial Services Authority or the European Central Bank (or, in any case, any other authority which
replaces all or any of its functions) and any such determination shall, in the absence of manifest error, be conclusive and binding on all parties hereto. 

  
 3 

 Schedule 3.01(b) 

Disclosed Litigation 
 NONE 

 Schedule 5.02(a) 

Liens 
 SNAP-ON INCORPORATED 
  

											
	 JURISDICTION
	  	 SECURED
PARTY
	  	FILE
NUMBER	  	FILING
DATE	  	 SUMMARY
COLLATERAL
DESCRIPTION
	  	 ADDITIONAL
FILINGS

	Delaware	  	Dell Financial Services L.L.C.	  	42324004	  	08/17/04	  	Certain computer equipment.	  	 Continuation #20092632583 filed on 08/17/09.
  

Amendment #20092741939 filed on 08/26/09 changing secured party name.

	Delaware	  	Jarvis Caster Company	  	20073764155	  	10/05/07	  	Casters and parts of casters for an inventory consignment program.	  	
	Delaware	  	Crown Credit Company	  	20074421888	  	11/20/07	  	Certain equipment.	  	
	Delaware	  	Wells Fargo Bank, N.A.	  	20081399581	  	04/22/08	  	Certain equipment.	  	
	Delaware	  	Wells Fargo Bank, N.A.	  	20081400017	  	04/22/08	  	Certain equipment.	  	
	Delaware	  	Earle M. Jorgensen Company	  	20083262076	  	09/25/08	  	Certain equipment.	  	
	Delaware	  	GFC Leasing	  	20090290871	  	01/28/09	  	Certain copier equipment.	  	
	Delaware	  	The Fifth Third Leasing Company	  	20090647039	  	02/27/09	  	Certain equipment.	  	
	Delaware	  	The Fifth Third Leasing Company	  	20090650611	  	02/27/09	  	Certain equipment.	  	
	Delaware	  	The Fifth Third Leasing Company	  	20091019345	  	03/31/09	  	Certain equipment.	  	
	Delaware	  	RBS Asset Finance, Inc.	  	20091572905	  	05/13/09	  	Certain equipment.	  	
	Delaware	  	RBS Asset Finance, Inc.	  	20092024542	  	06/17/09	  	Certain equipment.	  	
	Delaware	  	GFC Leasing	  	20092523295	  	08/06/09	  	Certain copier equipment.	  	
	Delaware	  	RBS Asset Finance, Inc.	  	20092660063	  	08/03/09	  	Certain equipment.	  	

											
	 JURISDICTION
	  	 SECURED
PARTY
	  	FILE
NUMBER	  	FILING
DATE	  	 SUMMARY
COLLATERAL
DESCRIPTION
	  	 ADDITIONAL
FILINGS

	Delaware	  	The Fifth Third Leasing Company	  	20093068837	  	09/25/09	  	Certain inventory and equipment.	  	Amendment #20100369698 filed on 02/02/10 deleting certain collateral.
	Delaware	  	RBS Asset Finance, Inc.	  	20100425979	  	02/08/10	  	Certain equipment.	  	
	Delaware	  	DMG Chicago Inc.	  	20100594188	  	02/12/10	  	Certain equipment.	  	
	Delaware	  	RBS Asset Finance, Inc.	  	20100827901	  	03/11/10	  	Certain equipment.	  	
	Delaware	  	U.S. Bancorp Equipment Finance, Inc.	  	20101109895	  	03/31/10	  	Certain equipment.	  	
	Delaware	  	Wells Fargo Bank, N.A.	  	20102587511	  	07/26/10	  	Certain equipment.	  	
	Delaware	  	GFC Leasing a Division of Gordon Flesch Co., Inc.	  	20111004756	  	03/18/11	  	Certain copier equipment.	  	
	Delaware	  	Wells Fargo Bank, N.A.	  	20111486151	  	04/20/11	  	Certain equipment.	  	
	Delaware	  	Haas Factory Outlet, LLC	  	20112108622	  	05/23/11	  	Certain equipment.	  	
	Delaware	  	Haas Factory Outlet, LLC	  	20113869222	  	09/23/11	  	Certain equipment.	  	
	Delaware	  	Haas Factory Outlet, LLC	  	20113871335	  	09/23/11	  	Certain equipment.	  	

 SNAP-ON TOOLS COMPANY LLC 

 

											
	 JURISDICTION
	  	 SECURED
PARTY
	  	FILE
NUMBER	  	FILING
DATE	  	 SUMMARY
COLLATERAL
DESCRIPTION
	  	 ADDITIONAL
FILINGS

	Delaware	  	Nissan Motor Acceptance Corporation	  	20110705783	  	02/25/11	  	Certain equipment.	  	
	Delaware	  	Nissan Motor Acceptance Corporation	  	20110705809	  	02/25/11	  	Certain equipment.	  	
	Delaware	  	Nissan Motor Acceptance Corporation	  	20110706419	  	02/25/11	  	Certain equipment.	  	
	Delaware	  	Wells Fargo Bank, N.A.	  	20111113490	  	03/25/11	  	Certain equipment.	  	
	Delaware	  	Nissan Motor Acceptance Corporation	  	20112676388	  	07/12/11	  	Certain equipment.	  	
	Delaware	  	Cryovac Sealed Air Corporation	  	20113101873	  	08/10/11	  	Certain equipment.	  	

 SNAP-ON CREDIT LLC 

 

											
	 JURISDICTION
	  	 SECURED
PARTY
	  	FILE
NUMBER	  	FILING
DATE	  	 SUMMARY
COLLATERAL
DESCRIPTION
	  	 ADDITIONAL
FILINGS

	Delaware	  	U.S. Bancorp Equipment Finance, Inc.	  	20104648766	  	12/30/10	  	Certain equipment.	  	
	Delaware	  	U.S. Bancorp Equipment Finance, Inc.	  	20110199623	  	01/19/11	  	Certain equipment.	  	

 EXHIBIT A-1—FORM OF 

REVOLVING CREDIT 

PROMISSORY NOTE 
  

			
	 U.S.$
	 	Dated:                     , 201

 FOR VALUE RECEIVED, the undersigned, SNAP-ON INCORPORATED, a Delaware corporation (the
“Borrower”), HEREBY PROMISES TO PAY to the order of                     (the “Lender”) for the account of its
Applicable Lending Office on the Termination Date applicable to the Lender (each as defined in the Credit Agreement referred to below) the principal sum of U.S.$[amount of the Lender’s Commitment in figures] or, if less, the aggregate principal
amount of the Revolving Credit Advances made by the Lender to the Borrower pursuant to the Amended and Restated Five Year Credit Agreement dated as of December 8, 2011 among the Borrower, the Lender and certain other lenders parties thereto,
J.P. Morgan Securities LLC and Citigroup Global Markets Inc., as joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A., as Agent for the Lender and such other lenders (as amended or modified from time to time, the “Credit
Agreement”; the terms defined therein being used herein as therein defined) outstanding on such date. 
 The Borrower
promises to pay interest on the unpaid principal amount of each Revolving Credit Advance from the date of such Revolving Credit Advance until such principal amount is paid in full, at such interest rates, and payable at such times, as are specified
in the Credit Agreement. 
 Both principal and interest in respect of each Revolving Credit Advance (i) in Dollars are
payable in lawful money of the United States of America to the Agent at its account maintained at [            ], in same day funds and (ii) in any Committed Currency are payable in
such currency at the applicable Payment Office in same day funds. Each Revolving Credit Advance owing to the Lender by the Borrower pursuant to the Credit Agreement, and all payments made on account of principal thereof, shall be recorded by the
Lender and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this Promissory Note. 
 This
Promissory Note is one of the Revolving Credit Notes referred to in, and is entitled to the benefits of, the Credit Agreement. The Credit Agreement, among other things, (i) provides for the making of Revolving Credit Advances by the Lender to
the Borrower from time to time in an aggregate amount not to exceed at any time outstanding the U.S. dollar amount first above mentioned, the indebtedness of the Borrower resulting from each such Revolving Credit Advance being evidenced by this
Promissory Note, (ii) contains provisions for determining the Dollar Equivalent of Revolving Credit Advances denominated in Committed Currencies and (iii) contains provisions for acceleration of the maturity hereof upon the happening of
certain stated events and also for prepayments on account of principal hereof prior to the maturity hereof upon the terms and conditions therein specified. 

 

			
	SNAP-ON INCORPORATED
		
	By	 	 
		 	Title:

 ADVANCES AND PAYMENTS OF PRINCIPAL 

 

									
	 Date
	 	 Amount of

Advance
	 	 Amount of

Principal Paid
 or Prepaid
	  	 Unpaid Principal

Balance
	  	 Notation

Made By

 EXHIBIT A-2—FORM OF 

COMPETITIVE BID 

PROMISSORY NOTE 
  

			
	 U.S.$
	 	Dated:                     , 201

 FOR VALUE RECEIVED, the undersigned, SNAP-ON INCORPORATED, a Delaware corporation (the
“Borrower”), HEREBY PROMISES TO PAY to the order of                     (the “Lender”) for the account of its
Applicable Lending Office (as defined in the Amended and Restated Five Year Credit Agreement dated as of December 8, 2011 among the Borrower, the Lender and certain other lenders parties thereto, J.P. Morgan Securities LLC and Citigroup Global
Markets Inc., as joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A. (“JPMCB”), as Agent for the Lender and such other lenders (as amended or modified from time to time, the “Credit Agreement”;
the terms defined therein being used herein as therein defined)), on             , 201 , the principal amount of
[U.S.$            ] [for a Competitive Bid Advance in a Foreign Currency, list currency and amount of such Advance]. 

The Borrower promises to pay interest on the unpaid principal amount hereof from the date hereof until such principal amount is paid in
full, at the interest rate and payable on the interest payment date or dates provided below: 
 Interest Rate:
            % per annum (calculated on the basis of a year of             days for the actual number of days elapsed).

 Both principal and interest are payable in lawful money of
            to JPMCB, as agent, for the account of the Lender at the office of             , at
            in same day funds. 
 This Promissory Note is one of the
Competitive Bid Notes referred to in, and is entitled to the benefits of, the Credit Agreement. The Credit Agreement, among other things, contains provisions for acceleration of the maturity hereof upon the happening of certain stated events.

 Except as otherwise provided in the Credit Agreement, the Borrower hereby waives presentment, demand, protest and notice of
any kind. No failure to exercise, and no delay in exercising, any rights hereunder on the part of the holder hereof shall operate as a waiver of such rights. 
 This Promissory Note shall be governed by, and construed in accordance with, the laws of the State of New York. 

 

			
	SNAP-ON INCORPORATED
		
	By	 	 
		 	Title:

 EXHIBIT B-1 – FORM OF NOTICE OF 

REVOLVING CREDIT BORROWING 

JPMorgan Chase Bank, N.A., as Agent 
 for the
Lenders parties 
 to the Credit Agreement 
 referred to below 
 [            ]

 [Date] 
 Attention: Loan Services Department 
 Ladies and Gentlemen: 

The undersigned, SNAP-ON INCORPORATED, refers to the Amended and Restated Five Year Credit Agreement, dated as of December 8, 2011
(as amended or modified from time to time, the “Credit Agreement”, the terms defined therein being used herein as therein defined), among the undersigned, certain Lenders parties thereto, J.P. Morgan Securities LLC and Citigroup
Global Markets Inc., as joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A. (“JPMCB”), as Agent for said Lenders, and hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit Agreement
that the undersigned hereby requests a Revolving Credit Borrowing under the Credit Agreement, and in that connection sets forth below the information relating to such Revolving Credit Borrowing (the “Proposed Revolving Credit
Borrowing”) as required by Section 2.02(a) of the Credit Agreement: 
 (i) The Business Day of the
Proposed Revolving Credit Borrowing is             , 201 . 
 (ii) The Type of Advances comprising the Proposed Revolving Credit Borrowing is [Base Rate Advances] [Eurocurrency Rate Advances]. 

(iii) The aggregate amount of the Proposed Revolving Credit Borrowing is
[$            ] [for a Revolving Credit Borrowing in a Committed Currency, list currency and amount of Revolving Credit Borrowing]. 

[(iv) The initial Interest Period for each Eurocurrency Rate Advance made as part of the Proposed
Revolving Credit Borrowing is             [month[s]]
[days].1] 

The undersigned hereby certifies that the following statements are true on the date hereof, and will be true on the date of the Proposed
Revolving Credit Borrowing: 
 (A) the representations and warranties contained in Section 4.01 of the Credit
Agreement (except the representations set forth in the last sentence of subsection (e) thereof and in subsection (f)(i) thereof) are correct, before and after giving effect to the Proposed Revolving Credit Borrowing and to the application
of the proceeds therefrom, as though made on and as of such date, except to the extent any such 
  

1 NOTE TO FORM: If an Interest Period of a duration other than one, two, three or six months is requested, then a desired
alternative to such requested Interest Period should also be designated pursuant to clause (c) of the definition of “Interest Period”. Such alternative Interest Period would apply if any or all of the Lenders were to object to the
requested duration of the Interest Period. The alternative Interest Period must be of a duration of one, two, three or six months. 

 
representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct on and as of such earlier date;

 (B) no event has occurred and is continuing, or would result from such Proposed Revolving Credit Borrowing or
from the application of the proceeds therefrom, that constitutes a Default; and 

 (C) after giving effect to such Proposed Revolving Credit Borrowing, the
aggregate amount of the Borrower’s Debt from any bank or financial institution or under any commercial paper facility or debt securities or securitization program outstanding will not exceed $700,000,000 or, if greater, the amount authorized by
resolutions of the Board of Directors in effect on the date of such Proposed Revolving Credit Borrowing. 
  

			
	 Very truly yours,
  

SNAP-ON INCORPORATED

		
	By	 	 
		 	Title:

 EXHIBIT B-2 – FORM OF NOTICE OF 

COMPETITIVE BID BORROWING 

JPMorgan Chase Bank, N.A., as Agent 
 for the
Lenders parties 
 to the Credit Agreement 
 referred to below 
 [            ]

 [Date] 
 Attention: Loan Services Department 
 Ladies and Gentlemen: 

The undersigned, SNAP-ON INCORPORATED, refers to the Amended and Restated Five Year Credit Agreement, dated as of December 8, 2011
(as amended or modified from time to time, the “Credit Agreement”, the terms defined therein being used herein as therein defined), among the undersigned, certain Lenders parties thereto, J.P. Morgan Securities LLC and Citigroup
Global Markets Inc., as joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A. (“JPMCB”), as Agent for said Lenders, and hereby gives you notice, irrevocably, pursuant to Section 2.03 of the Credit Agreement
that the undersigned hereby requests a Competitive Bid Borrowing under the Credit Agreement, and in that connection sets forth the terms on which such Competitive Bid Borrowing (the “Proposed Competitive Bid Borrowing”) is requested
to be made: 
 (A) Date of Competitive Bid Borrowing
             
 (B) Amount of Competitive Bid
Borrowing              
 (C) [Maturity Date]
[Interest Period]              
 (D) Interest Rate
Basis              
 (E) Day Count Convention
             
 (F) Interest Payment Date(s)
             
 (G) Currency
             
 (H) Borrower’s Account Location
             
 [(I) Prepayments Permitted
            ] 
 (J)
             
 The undersigned hereby certifies that the following
statements are true on the date hereof, and will be true on the date of the Proposed Competitive Bid Borrowing: 

(a) the representations and warranties contained in Section 4.01 of the Credit Agreement (except the representations
set forth in the last sentence of subsection (e) thereof and in subsection (f)(i) thereof) are correct, before and after giving effect to the Proposed Competitive Bid Borrowing and to the application of the proceeds therefrom, as though
made on and as of such date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct on and as of such earlier date;

 (b) no event has occurred and is continuing, or would result from the Proposed Competitive Bid Borrowing or
from the application of the proceeds therefrom, that constitutes a Default; 
 (c) no event has occurred and no
circumstance exists as a result of which the information concerning the undersigned that has been provided to the Agent and each Lender by the undersigned in connection with the Credit Agreement would include an untrue statement of a material fact
or omit to state any material fact or any fact necessary to make the statements contained therein, in the light of the circumstances under which they were made, not misleading in any material respect; 

 (d) the aggregate amount of the Proposed Competitive Bid Borrowing, if
accepted by the Borrower, and all other Borrowings to be made on the same day under the Credit Agreement is within the aggregate amount of the unused Commitments of the Lenders, and 

(e) after giving effect to the Proposed Competitive Bid Borrowing, the aggregate amount of the Borrower’s Debt from
any bank or financial institution or under any commercial paper facility or debt securities or securitization program outstanding will not exceed $700,000,000 or, if greater, the amount authorized by resolutions of the Board of Directors in effect
on the date of the Proposed Competitive Bid Borrowing. 
  

			
	 Very truly yours,
  

SNAP-ON INCORPORATED

		
	By	 	 
		 	Title:

 EXHIBIT C – FORM OF 

ASSIGNMENT AND ASSUMPTION 
 ASSIGNMENT AND ASSUMPTION 
 This Assignment and
Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [the][each]11 Assignor identified in item 1 below ([the][each, an] “Assignor”) and [the][each]12 Assignee identified in item 2 below ([the][each, an]
“Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the
Assignees]13 hereunder are several and not joint.]14 Capitalized terms used but not defined herein shall have the
meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the][each] Assignee. The Standard Terms and Conditions set forth in Annex 1
attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to [the Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases and assumes from
[the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Agent as contemplated below (i) all of [the Assignor’s][the
respective Assignors’] rights and obligations in [its capacity as a Lender][their respective capacities as Lenders] under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount
and percentage interest identified below of all of such outstanding rights and obligations of [the Assignor][the respective Assignors] under the respective facilities identified below, and (ii) to the extent permitted to be assigned under
applicable law, all claims, suits, causes of action and any other right of [the Assignor (in its capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract
claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by [the][any]
Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as [the][an] “Assigned Interest”). Each such sale and assignment is without recourse to [the][any] Assignor and,
except as expressly provided in this Assignment and Assumption, without representation or warranty by [the][any] Assignor. 
  

							
	1.	  	Assignor[s]:	  	 	  	
				
		  		  	 	  	
		  	[Assignor [is] [is not] a Defaulting Lender]	  	
				
	2.	  	Assignee[s]:	  	 	  	
				
		  		  	 	  	

  

	11	 For bracketed
language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose the second bracketed language.

	12 	 For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first
bracketed language. If the assignment is to multiple Assignees, choose the second bracketed language. 

	13 	 Select as appropriate. 

	14 	 Include bracketed language if there are either multiple Assignors or multiple Assignees. 

 [for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]

  

	3.	Borrower: Snap-on Incorporated. 

  

	4.	Agent: JPMorgan Chase Bank, National Association (“JPMCB”), as the administrative agent under the Credit Agreement 

 

	5.	Credit Agreement: The $500,000,000 Amended and Restated Five Year Credit Agreement dated as of December 8, 2011 among Snap-on Incorporated, the Lenders parties
thereto, JPMCB, as Agent, and the other agents parties thereto 

  

	6.	Assigned Interest[s]: 

  

											
	Assignor[s]15	  	Assignee[s]16	  	 Aggregate Amount of
 Commitment/Advances
for all Lenders18
	  	Amount of
Commitment/Advances
Assigned8	  	 Percentage
Assigned of
Commitment/

Advances19
	  	 CUSIP
 Number

						
		  		  	$	  	$	  	%	  	
						
		  		  	$	  	$	  	%	  	
						
		  		  	$	  	$	  	%	  	

  

	[7.	 Trade Date:             ]20 

 [Page break] 
  

	15	 List each
Assignor, as appropriate. 

	16 	 List each Assignee, as appropriate. 

	18	 Amount to be
adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date. 

	19 	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Advances of all Lenders thereunder. 

	20	 To be completed if
the Assignor(s) and the Assignee(s) intend that the minimum assignment amount is to be determined as of the Trade Date. 

 Effective Date:             ,
20            [TO BE INSERTED BY AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Assumption are hereby agreed to: 
  

			
	 ASSIGNOR[S]21
 [NAME OF
ASSIGNOR]

		
	By:	 	 
		 	Title:

  

			
	[NAME OF ASSIGNOR]
		
	By:	 	 
		 	Title:

  

			
	 ASSIGNEE[S]22
 [NAME OF
ASSIGNEE]

		
	By:	 	 
		 	Title:

  

			
	[NAME OF ASSIGNEE]
		
	By:	 	 
		 	Title:

 [Consented to and]23 Accepted: 

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as 

    Agent 
 By:
                                         
                                         
       
         Title: 

[Consented to:]24
 
  

	21 	 Add additional signature blocks as needed. 

	22	 Add additional
signature blocks as needed. 

	23	 To be added only
if the consent of the Agent is required by the terms of the Credit Agreement. 

	24	 To be added only
if the consent of the Borrower is required by the terms of the Credit Agreement.  

 SNAP-ON INCORPORATED, as 
     the Borrower 
 By:
                                         
                                         
       
         Title: 

 ANNEX 1 
 Snap-on Incorporated Amended and Restated Five Year Credit Agreement dated as of December 8, 2011 
 STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION 

 

	 	1.	Representations and Warranties. 

 1.1 Assignor[s]. [The][Each] Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of [the][the relevant] Assigned Interest, (ii) [the][such] Assigned
Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions
contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan
Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or
any other Person obligated in respect of any Loan Document, or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document.

 1.2. Assignee[s]. [The][Each] Assignee (a) represents and warrants that (i) it has full power and authority,
and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all the requirements to be an
assignee under Section 8.07(b)(iii), (v) and (vi) of the Credit Agreement (subject to such consents, if any, as may be required under Section 8.07(b)(iii) of the Credit Agreement), (iii) from and after the Effective Date, it
shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions
to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received
a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 5.01(i) thereof, as applicable, and such other documents and
information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest, (vi) it has, independently and without reliance upon the Agent or any
other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) if it is a
Lender organized under the laws of a jurisdiction outside the United States, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to Section 2.14(e) of the Credit Agreement, duly completed and
executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance on the Agent, [the][any] Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be
performed by it as a Lender. 
 2. Payments. From and after the Effective Date, the Agent shall make all payments in
respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignee whether such amounts have accrued prior to, on or after the Effective Date. The Assignor[s] and the
Assignee[s] shall make all appropriate adjustments in payments by the Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves. 

3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and
their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York.

 EXHIBIT D – FORM OF 

OPINION OF COUNSEL 

FOR THE BORROWERRestated Certificate of Incorporation of the Company

 Exhibit 4.1 
 RESTATED CERTIFICATE OF INCORPORATION 
 OF 

WAL-MART STORES, INC. 
 WAL-MART STORES, INC., a corporation organized and existing under the laws of the State of Delaware, hereby certifies as follows: 
 1. The name of the corporation is: 
 WAL-MART STORES, INC. 

The date of filing its original Certificate of Incorporation with the Secretary of State was October 31, 1969. 

2. This Restated Certificate of Incorporation only restates and integrates and does not further amend the provisions of the Certificate
of Incorporation of this corporation as heretofore amended or supplemented and there is no discrepancy between those provisions and the provisions of this Restated Certificate of Incorporation. 

3. The text of the Certificate of Incorporation as amended or supplemented heretofore is hereby restated without further amendments or
changes to read as herein set forth in full: 
 FIRST: The name of the Corporation is 

WAL-MART STORES, INC. 
 SECOND: Its registered office in the State of Delaware is located at Corporation Trust Center, 1209 Orange Street, in the City of Wilmington, County of New Castle. The name and address of its registered
agent is The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware. 
 THIRD: The
purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware. 
 FOURTH: The total number of shares of all classes of stock which the Corporation shall have authority to issue is One Billion, Four Hundred Million (1,400,000,000) shares, of which One Billion, Three
Hundred Million (1,300,000,000) shares shall be classified as Common Stock, of the par value of 10¢ per share (herein called “Common Stock”), and of which One Hundred Million (100,000,000) shares shall be classified as
Preferred Stock of the par value of l0¢ per share (herein called “Preferred Stock”). 

 The designations, preferences, limitations and relative rights of the shares of Preferred
Stock and of Common Stock are as follows: 
 1. Preferred Stock. The Preferred Stock may be issued in such one or more
series as shall from time to time be created and authorized to be issued by the Board of Directors as hereafter provided. 
 The
Board of Directors is hereby expressly authorized, by resolution or resolutions from time to time adopted providing for the issuance of Preferred Stock, to fix and state the designations, powers, preferences and relative, participating, optional and
other special rights of the shares of each series of Preferred Stock, and the qualifications, limitations and restrictions thereof, including (but without limiting the generality of the foregoing) any of the following with respect to which the Board
of Directors shall determine to make affirmative provisions: 
 a) the distinctive name and serial designations; 

b) the annual dividend rate or rates and the dividend payment dates; 

c) whether dividends are to be cumulative or non-cumulative and the participating or other special rights, if any, with respect to the
payment of dividends; 
 d) whether any series shall be subject to redemption and, if so, the manner of redemption and the
redemption price or prices; 
 e) the amount or amounts of preferential or other payment to which any series is entitled over
any other series or over the Common Stock on voluntary or involuntary liquidation, dissolution or winding up; 
 f) any sinking
fund or other retirement provisions and the extent to which the charges therefor are to have priority over the payment of dividends on or the making of sinking fund or other like retirement provisions for shares of any other series or over dividends
on the Common Stock; 
 g) any conversion, exchange, purchase or other privileges to acquire shares of any other series or of
the Common Stock; 
 h) the number of shares of such series; 

i) the voting rights, if any, of such series; 

  
 2 

 j) the stated value, if any, for such series, the consideration for which shares of such
series may be issued and the amount of such consideration which shall be credited to the capital account. 
 Each share of such series of
Preferred Stock shall have the same relative rights and be identical in all respects with all the other shares of the same series. 
 Before the Corporation shall issue any shares of Preferred Stock of any series authorized as hereinbefore provided, a certificate setting forth a copy of the resolution or resolutions with respect to such
series adopted by the Board of Directors of the Corporation pursuant to the foregoing authority vested in said Board shall be made, filed and recorded in accordance with the then applicable requirements, if any, of the laws of the State of Delaware,
or, if no certificate is then so required, such certificate shall be signed and acknowledged on behalf of the Corporation by its President or a Vice President and its corporate seal shall be affixed thereto and attested by its Secretary or an
Assistant Secretary and such certificate shall be filed and kept on file at the principal office of the Corporation in the State of Delaware and in such other place or places as the Board of Directors shall designate. 

Shares of any series of Preferred Stock which shall be issued and thereafter acquired by the Corporation through purchase, redemption,
conversion or otherwise, may by resolution or resolutions of the Board of Directors be returned to the status of authorized but unissued Preferred Stock of the same series. Unless otherwise provided in the resolution or resolutions of the Board of
Directors providing for the issue thereof, the number of authorized shares of stock of any such series may be increased or decreased (but not below the number of shares thereof then outstanding) by resolution or resolutions of the Board of Directors
and the filing of a certificate complying with the foregoing requirements. In case the number of shares of any such series of Preferred Stock shall be decreased, the shares representing such decrease shall, unless otherwise provided in the
resolution or resolutions of the Board of Directors providing for the issuance thereof, resume the status of authorized but unissued Preferred Stock, undesignated as to series. 

2. Common Stock. The Common Stock shall have no special rights or limitations. 

  
 3 

 3. In connection with the merger of KUHNCO, INC. (“Kuhnco”), a wholly-owned
subsidiary of WAL-MART STORES, INC. (“Wal-Mart”) into KUHN’S-BIG K STORES CORP. (“Kuhn”) a series of Preferred Stock is established to which the following provisions shall be applicable: 

SECTION 1. Designation of Series. The series shall be designated Series A 8% Cumulative Convertible Preferred Stock, par value $.10 per
share with a stated value of $25.00 per share (herein called “Series A Preferred Stock”). 
 SECTION 2. Numbers of
Shares. The number of shares of Series A Preferred Stock to be issued is up to 532,759. 
 SECTION 3. Dividend Rate. The
dividend rate for Series A Preferred stock is $2.00 per share per annum; provided, however, that dividends may be declared and paid only out of retained earnings of Wal-Mart, and provided, further, that the dividend payable on the first dividend
payment date subsequent to the effective date of the merger of Kuhnco into Kuhn shall be that proportion of the $.50 per share regular quarterly dividend equal to that portion of Wal-Mart’s fiscal quarter ended next preceding such dividend
payment date which occurs subsequent to the effective date of the merger of Kuhnco into Kuhn. Dividends on the Series A Preferred Stock shall be preferential and cumulative, so that so long as any Series A Preferred Stock shall be outstanding
Wal-Mart will not declare or pay, or set apart for payment, any dividends (other than dividends payable in shares of any class or classes of stock of Wal-Mart ranking junior to the Series A Preferred Stock), and will not redeem, purchase or
otherwise acquire, directly or indirectly, whether voluntarily, for a sinking fund, or otherwise, any shares of any class or classes of stock of Wal-Mart ranking junior to the series A Preferred Stock if at the time of making such declaration,
payment, setting apart, distribution, redemption, purchase or acquisition, full cumulative dividends upon all outstanding shares of Series A Preferred Stock shall not have been paid or declared and set apart for payment for all past quarterly
dividend periods, provided that notwithstanding the foregoing Wal-Mart may at any time redeem, purchase or otherwise acquire shares of stock of any such junior class in exchange for, or out of the net cash proceeds from the concurrent sale of, other
shares of stock of any such junior class. 
 SECTION 4. Dividend Payment Dates. The dates at which dividends on the Series A
Preferred Stock shall be payable are May 15, August 15, November 15 and February 15 of each year. 

SECTION 5. Redemption. 
 (a) The Series A Preferred Stock shall not be redeemable by Wal-Mart prior to October 1, 1986. Thereafter, the Series A Preferred Stock shall be redeemable by Wal-Mart, at its option, in whole or in
part (if in part, the shares to be redeemed shall be selected by lot) and the redemption price for the Series A Preferred Stock shall be $27.50 per share plus accrued and unpaid dividends; provided, however, that until September 1, 1991, no
redemption shall be permitted other than pursuant to paragraph (b) below or the last sentence of this paragraph (a), unless for any period of ten (10) consecutive trading days within the thirty (30) days preceding the date notice of
redemption shall be given pursuant to paragraph (c) below the average of the last reported sales prices for the Common Stock (as defined in Section 8 below) on the New York Stock Exchange shall be equal to at least 125% of the amount of
the conversion price for the Common Stock as then in effect under Section 8 below. Notwithstanding the foregoing, if 

  
 4 

 
Wal-Mart should be a party to any consolidation or merger whereby the outstanding shares of Common Stock are to be exchanged for or converted into cash or other securities of an issuer unrelated
or unaffiliated with Wal-Mart, Wal-Mart may, at its option exercisable not later than 30 days prior to the effective date of any such consolidation or merger, redeem any or all of the outstanding shares of the Series A Preferred Stock effective as
of the later of October 1, 1986 or the effective date of any such consolidation or merger at a price of $27.50 per share plus accrued and unpaid dividends. 
 (b) At December 31 of each year set forth in the table below, Wal-Mart shall redeem from each holder of shares of Series A Preferred Stock the respective number of shares owned by each holder at the
record date for such redemption set forth in the table below, at $27.50 per share, plus all dividends accrued and unpaid on such Series A Preferred Stock up to the date fixed, upon giving the notice hereinafter provided: 

 

					
	 Year
	  	Percent of Shares of
Series A Preferred Stock Owned
By Each 
Holder on Record Date	 
	 1986
	  	 	20.0	% 
	 1987
	  	 	25.0	% 
	 1988
	  	 	33.3	% 
	 1989
	  	 	50.0	% 
	 1990
	  	 	100.0	% 

 During the continuance of a default by Wal-Mart (because of lack of funds legally available or for any
other reason) in making any redemption required under this paragraph 5(b), no sum shall be set aside for or applied to the purchase or redemption (pursuant to any applicable sinking fund or redemption provisions or otherwise) of any shares of any
class or series of stock ranking as to dividends or assets on a parity with or junior to Series A Preferred Stock and no dividend shall be declared or paid or any other distribution ordered or made upon any shares of any class or series of stock
ranking as to dividends junior to Series A Preferred Stock. 
 (c) Not less than 30 nor more than 60 days prior to the date
fixed for redemption of the Series A Preferred Stock or any part thereof, notice specifying the time and place thereof shall be given by mail to the holders of record of the shares of Series A Preferred Stock selected for redemption at their
respective addresses as the same shall appear on the stock books of Wal-Mart and by publication in at least one daily newspaper of general circulation in Nashville, Tennessee and one such newspaper in New York, New York, once each week for three
consecutive weeks. The failure to give such notice or any defect therein or in the mailing or publication thereof shall not affect the validity of the proceedings for redemption. Any notice which was mailed in the manner herein provided shall be
conclusively presumed to have been duly given whether or not the holder receives the notice. Upon such redemption date, or upon such earlier date as the Board of Directors shall designate for payment of the redemption price (unless Wal-Mart shall
default in the payment of the redemption price as set forth in such notice), the holders of shares of Series A Preferred Stock shall have no interest in or claim against Wal-Mart by virtue of the shares to be so redeemed and shall have no voting or
other rights with respect to such shares except the right to convert such shares within the time hereinafter set forth and except the right to receive the moneys payable upon such redemption 

  
 5 

 
from Wal-Mart or otherwise, without interest thereon, upon surrender (and endorsement, if required by Wal-Mart) of the certificates, and the shares represented thereby shall no longer be deemed
to be outstanding. Upon redemption or conversion of Series A Preferred Stock in the manner set out herein, or upon purchase of the Series A Preferred Stock by Wal-Mart, Series A Preferred Stock so acquired by Wal-Mart shall be cancelled and shall
not be reissued. Except where Series A Preferred Stock must be converted before the effective date of a consolidation or merger as provided in Section 8(a), after giving any notice of redemption and prior to the close of business on the tenth
day prior to the redemption date, as hereinafter provided, the holders of the shares of Series A Preferred Stock so called for redemption may convert such shares into shares of the Common Stock of Wal-Mart, in accordance with the conversion
privileges set forth in Section 8 hereof. 
 (d) No fractional shares of the Series A Preferred Stock shall be redeemed. In
the event the number of shares to be redeemed from any holder thereof includes a fractional share, the number of shares to be redeemed from said holder shall be rounded to the nearest whole number. 

(e) Redemption of the Series A Preferred Stock shall be made only out of Retained Earnings of Wal-Mart. 

SECTION 6. Voting Rights. 
 (a) At every meeting of stockholders of Wal-Mart, every holder of Series A Preferred Stock shall be entitled to one vote for each share of Series A Preferred Stock standing in his name on the books of
Wal-Mart, with the same and identical voting rights, except as expressly provided herein, as a holder of a share of Wal-Mart Common Stock. The Series A Preferred Stock and any other stock having voting rights shall vote together as one class, except
as provided by law and in Paragraphs (b) and (c) hereof. 
 (b) If and whenever accrued dividends on the Series A
Preferred Stock shall not have been paid or declared and a sum sufficient for the payment thereof set aside, in an amount equal to six quarter-annual dividends on any shares of Series A Preferred Stock at the time outstanding, then and in such
event, the holders of the Series A Preferred Stock, voting separately as a class, shall be entitled, at any annual meeting of the stockholders or special meeting held in place thereof, or at a special meeting of the holders of the Series A Preferred
Stock called as hereinafter, provided, to elect two directors. Such right of the holders of Series A Preferred Stock to elect two directors may be exercised until dividends in default on the Series A Preferred Stock shall have been paid in full or
funds sufficient therefor set aside, and when so paid or provided for, then the right of the holders of the Series A Preferred Stock to elect such directors shall cease, but subject always to the same provisions for the vesting of such voting rights
in the case of any such future dividend default or defaults. At any time after such voting power shall have so vested in the holders of the Series A Preferred Stock, the Secretary of Wal-Mart may, and upon the written request of the holders of
record of 25% or more in amount of the Series A Preferred Stock then outstanding, addressed to him at the principal office of Wal-Mart in the State of Arkansas, shall call a special meeting of the holders of the Series A Preferred Stock for the
election of the directors to be elected by them as herein provided, to be held within 40 days after delivery of such request and at the place and upon the notice provided by law and 

  
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in the By-laws for the holding of meetings of stockholders; provided, however, that the Secretary shall not be required to call such special meeting in the case of any such request received less
than 90 days before the date fixed for the next ensuing annual meeting of stockholders. No such special meeting and no adjournment thereof shall be held on a date less than 30 days before the annual meeting of the stockholders or special meeting
held in place thereof next succeeding the time when the holders of the Series A Preferred Stock become entitled to elect a director as above provided. If at any such annual or special meeting or any adjournment thereof the holders of at least a
majority of the Series A Preferred Stock then outstanding shall be present or represented by proxy, then by vote of the holders of at least a majority of the Series A Preferred Stock present or so represented at such meeting, the then authorized
number of directors of Wal-Mart shall be increased by two, and the holders of the Series A Preferred Stock shall be entitled to elect the two additional directors so provided for. The directors so elected shall serve until the next annual meeting or
until their successors shall be elected and shall qualify; provided, however, that whenever the holders of the Series A Preferred Stock shall be divested of voting power as above provided, the term of office of the persons elected as directors by
the holders of the Series A Preferred Stock as a class shall forthwith terminate, and the number of the Board of Directors shall be reduced accordingly. If, during any interval between any special meeting of the holders of Series A Preferred Stock
for the election of a director to be elected by them as provided above and the next ensuing annual meeting of stockholders, or between annual meetings of stockholders for the election of directors, and while the holders of the Series A Preferred
Stock shall be entitled to elect two directors the office of either of the directors who have been elected by the holders of the Series A Preferred Stock shall, by reason of resignation, death or removal, be vacant, (1) the vacancy shall be
filled by a majority vote of the remaining directors then in office, although less than a quorum, and (2) if not so filled within 40 days after the creation thereof, the Secretary of Wal-Mart shall call a special meeting of the holders of the
Series A Preferred Stock and such vacancy shall be filled at such special meeting. Any director elected to fill any such vacancy by the remaining directors then in office may be removed from office by vote of the holders of a majority of the shares
of the Series A Preferred Stock. A special meeting of the holders of the Series A Preferred Stock may be called by a majority vote of the Board of Directors for the purpose of removing such director. The Secretary of Wal-Mart shall, in any event,
within ten days after delivery to Wal-Mart at its principal office in the State of Arkansas of a request to such effect signed by the holders of at least 25% of the outstanding shares of the Series A Preferred Stock, call a special meeting for such
purpose to be held within 40 days after delivery of such request, provided, however, that the Secretary shall not be required to call such a special meeting in the case of any such request received less than 90 days before the date fixed for the
next ensuing annual meeting of stockholders. 
 (c) The consent of holders of more than two-thirds of the outstanding shares of
Series A Preferred Stock is required to amend the certificate of incorporation of Wal-Mart to (i) create or authorize any class of stock ranking prior or superior to the Series A Preferred Stock as to assets or dividends, or any class of
securities convertible into any such a class of stock, or (ii) change the terms of the Series A Preferred Stock in any manner prejudicial to the holders thereof; provided, however, that no separate consent of the holders of the Series A
Preferred Stock shall be required to amend the certificate of incorporation to create or authorize any class of stock ranking on a parity with the Series A Preferred Stock as to assets or dividends, or as to any class of securities convertible into
any such class of stock if such stock or other securities are issued for new consideration and not as a dividend or other distribution to the stockholders of Wal-Mart. 

  
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 SECTION 7. Liquidation Rights. The amount payable on Series A Preferred Stock in the event
of any liquidation, dissolution or winding up of the affairs of Wal-Mart shall be $27.50 per share plus accrued and unpaid dividends, which amount shall be paid and distributed before any distribution may be made with respect to the outstanding
shares of Wal-Mart Common Stock or any other class of shares of Wal-Mart ranking junior to the Series A Preferred Stock with respect to payment of dividends or distributions upon dissolution and winding up of Wal-Mart. 

SECTION 8. Conversion Right. 
 (a) Subject to and upon compliance with the provisions of this Section 8 and except as provided in the last sentence of this paragraph (a), the Series A Preferred Stock may at the option of the
holder at any time, or in the case of shares called for redemption until and including the tenth day prior to the date fixed for redemption (but not thereafter if payment of the redemption price has been duly provided for by the date fixed for
redemption), be converted into shares of the Common Stock, par values $.10 per share, of Wal-Mart (“Common Stock”) (as such shares shall be constituted at the conversion date) at the conversion price in effect at the conversion date.
Notwithstanding the provisions of this paragraph (a) and Section 5(c), if Wal-Mart shall be a party to any consolidation or merger whereby the outstanding shares of Common Stock are to be exchanged for or converted into cash or other
securities of an issuer unrelated or unaffiliated with Wal-Mart and Wal-Mart exercises its option to redeem the Series A Preferred Stock pursuant to the last sentence of Section 5(a), the Series A Preferred Stock may not be converted after the
effective date of any such consolidation or merger. 
 (b) The holder of each share of Series A Preferred Stock may exercise the
conversion privilege in respect thereof by delivering to any transfer agent of the Series A Preferred Stock (i) the shares to be converted, (ii) written notice that the holder elects to convert such shares and stating the name or names
(with address) in which the stock certificate for Common Stock is to be issued. Conversion shall be deemed to have been effected on the date when such delivery is made, and such date is referred to in this Section as the “conversion date.”
On the conversion date or as promptly thereafter as practicable, Wal-Mart shall issue and deliver to the holder of the Series A Preferred Stock surrendered for conversion, or on his written order, a certificate for the number of full shares of
Common Stock issuable upon the conversion of such Series A Preferred Stock and a check or cash in respect of any fraction of a share as provided in subparagraph (c) of this Section 8. The person in whose name the stock certificate is to be
issued shall be deemed to have become a holder of Common Stock of record on the conversion date. No adjustment shall be made for any dividends on such shares of Series A Preferred Stock or for dividends on the shares of Common Stock issued on
conversion. 
 (c) Wal-Mart shall not be required to issue fractional shares of Common Stock upon conversion of Series A
Preferred Stock. The number of full shares of Common Stock issuable upon conversion of the shares of Series A Preferred Stock surrendered therefor shall be computed on the basis of the aggregate number of shares so surrendered. If any fractional
interest in a share of Common Stock would be deliverable upon the conversion of any 

  
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Series A Preferred Stock, Wal-Mart shall in lieu of delivering the fractional share therefor make an adjustment therefor in cash at the current market value thereof, computed on the basis of the
last reported sale price of the shares of Common Stock on the New York Stock Exchange on the last business day before the conversion date or, if there was no reported sale on that day, on the basis of the mean of the closing bid and asked quotations
on that Exchange on that day, or if the Common Stock is not then listed on that Exchange, on the basis of the mean of the closing bid and asked quotations in the over-the-counter market on that day as reported by NASDAQ, or any similar reporting
service. 
 (d) Unless and until an adjusted conversion price of the Common Stock is required to be computed as hereinafter
provided, the conversion price for such Common Stock shall be $45.60 per share, provided, however, that in the event that the average of the last reported sales prices for trades of shares of Wal-Mart Common Stock on the New York Stock Exchange for
the five trading days, immediately preceding the effective date of the Merger of Kuhnco into Kuhn (the “Five-Day Average Price”) is less than $36.50 per share, the conversion price shall be equal to 125% of the Five-Day Average Price;
provided, further that in the event that the Five-Day Average Price is greater than $39.50 per share; the conversion price shall be equal to 120% of the Five-Day Average Price. The number of shares of Common Stock issuable upon conversion of one
share of Series A Preferred Stock shall be determined by dividing $25.00 by the conversion price then in effect. 
 (e) In case
Wal-Mart shall pay or make a dividend or other distribution on any class of its capital stock in Common Stock, the conversion price in effect at the opening of business on the day following the date fixed for the determination of stockholders
entitled to receive such dividend or other distribution shall be reduced by multiplying such conversion price by a fraction of which the numerator shall be the number of shares of Common Stock outstanding at the close of business on the date fixed
for such determination and the denominator shall be the sum of such number of shares and the total number of shares constituting such dividend or other distribution, such reduction to become effective immediately after the opening of business on the
day following the date fixed for such determination. For the purposes of this paragraph (e), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of Wal-Mart but shall include shares issuable in
respect of scrip certificates issued in lieu of fractions of shares of Common Stock. Wal-Mart will not pay any dividend or make any distribution on shares of Common Stock held in the treasury of Wal-Mart. 

(f) In case Wal-Mart shall issue rights or warrants (other than employee stock options granted under any of Wal-Mart’s employee
stock option plans) to all holders of its Common Stock entitling them to subscribe for or purchase shares of Common Stock at a price per share less than the current market price per share (determined as provided in paragraph (j) below) of the
Common Stock on the date fixed for the determination of stockholders entitled to receive such rights or warrants, the conversion price in effect at the opening of business on the day following the date fixed for such determination shall be reduced
by multiplying such conversion price by a fraction of which the numerator shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for such determination plus the number of shares of Common Stock which the
aggregate of the offering price of the total number of shares of Common Stock so offered for subscription or purchase would purchase at such current market price and the denominator shall be the number of shares of Common Stock

  
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outstanding at the close of business on the date fixed for such determination plus the number of shares of Common Stock so offered for subscription or purchase, such reduction to become effective
immediately after the opening of business on the day following the date fixed for such determination. For the purposes of this paragraph (f) the number of shares of Common Stock at any time outstanding shall not include shares held in the
treasury of Wal-Mart but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of Common Stock. Wal-Mart will not issue any rights or warrants in respect of shares of Common Stock held in the treasury of
Wal-Mart. 
 (g) In case outstanding shares of Common Stock shall be subdivided into a greater number of shares of Common Stock,
the conversion price in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately reduced, and, conversely, in case outstanding shares of Common Stock shall each be combined
into a smaller number of shares of Common Stock, the conversion price in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately increased, such reduction or increase, as
the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective. 
 (h) In case Wal-Mart shall, by dividend or otherwise, distribute to all holders of its Common Stock evidences of its indebtedness or assets (including securities, but excluding any rights or warrants
referred to in paragraph (f) above, any dividend or distribution paid in cash out of the retained earnings of Wal-Mart and any dividend or distribution referred to in paragraph (e) above), the conversion price shall be adjusted so that the
same shall equal the price determined by multiplying the conversion price in effect immediately prior to the close of business on the date fixed for the determination of stockholders entitled to receive such distribution by a fraction of which the
numerator shall be the current market price per share (determined as provided in paragraph (j) below) of the Common Stock on the date fixed for such determination less the then fair market value (as determined by the Board of Directors, whose
determination shall be conclusive) of the portion of the assets or evidences of indebtedness so distributed applicable to one share of Common Stock and the denominator shall be such current market price per share of the Common Stock, such adjustment
to become effective immediately prior to the opening of business on the day following the date fixed for the determination of stockholders entitled to receive such distribution. 

(i) The reclassification (including any reclassification upon a consolidation or merger in which Wal-Mart is the surviving corporation)
of Common Stock into securities other than Common Stock shall be deemed to involve (a) a distribution of such securities other than Common Stock to all holders of Common Stock (and the effective date of such reclassification shall be deemed to
be “the date fixed for the determination of stockholders entitled to receive such distribution” and “the date fixed for such determination” within the meaning of paragraph (h) above), and (b) a subdivision or
combination, as the case may be, of the number of shares of Common Stock outstanding immediately prior to such reclassification into the number of shares of Common Stock outstanding immediately thereafter (and the effective date of such
reclassification shall be deemed to be “the day upon which such subdivision becomes effective” or “the day upon which such combination becomes effective,” as the case may be, and “the day upon which such subdivision or
combination becomes effective” within the meaning of paragraph (g) above). 

  
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 (j) For the purpose of any computation under paragraphs (f) and (h) above, the
current market price per share of Common Stock on any date shall be deemed to be the average of the daily closing prices for the 30 consecutive business days selected by Wal-Mart commencing not more than 45 business days before the day in question.
The closing price for each day shall be the last reported sales price regular way or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices regular way, in either case on the New York Stock
Exchange, or, if the Common Stock is not listed or admitted to trading on such Exchange, on the principal national securities exchange on which the Common Stock is listed or admitted to trading or, if not listed or admitted to trading on any
national securities exchange, the average of the closing bid and asked quotations in the over-the-counter market, as reported by NASDAQ, or any similar reporting service. For the purposes of this paragraph (j), the term “business day”
shall mean each Monday, Tuesday, Wednesday, Thursday and Friday, other than any day on which securities are not traded on such exchange or in such market. 
 (k) Wal-Mart may make such reductions in the conversion price, in addition to those required by paragraphs (e), (f), (g) and (h) above, as it considers to be advisable in order that any event
treated for Federal income tax purposes as a dividend of stock or stock rights shall not be taxable to the recipients. 
 (l)
Whenever the conversion price is adjusted as herein provided: 
 (i) Wal-Mart shall compute the adjusted
conversion price in accordance with this Section 8 and shall prepare a certificate signed by the Treasurer of Wal-Mart setting forth the adjusted conversion price and showing in reasonable detail the facts upon which such adjustment is based,
and such certificate shall forthwith be filed with the Transfer Agent for the Series A Preferred Stock. 
 (ii) a
notice stating that the conversion price has been adjusted and setting forth the adjusted conversion price shall forthwith be required, and as soon as practicable after it is required, such notice shall be mailed to the holders of record of the
outstanding shares of series A Preferred Stock; provided, however, that if within 10 days after the completion of mailing such a notice, an additional notice is required, such additional notice shall be deemed to be required pursuant to this clause
(ii) as of the opening of business on the tenth day after such completion of mailing and shall set forth the conversion price as adjusted at such opening of business, and, upon the completion of mailing of such additional notice, no other
notice need be given of any adjustment in the conversion price occurring at or prior to such opening of business and after the time that the next preceding notice given by mail became required. 

  
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 (m) In case: 

(i) Wal-Mart shall declare a dividend (or any other distribution) on its Common Stock payable otherwise than in cash out
of its retained earnings; or 
 (ii) Wal-Mart shall authorize the granting to the holders of its Common Stock of
rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any other rights; or 
 (iii) of any reclassification of the capital stock of Wal-Mart (other than a subdivision or combination of its outstanding shares of Common Stock), or of any consolidation or merger to which Wal-Mart is a
party for which approval of any stockholders of Wal-Mart is required, or of the sale or transfer of all or substantially all of the assets of Wal-Mart, or 
 (iv) of the voluntary or involuntary dissolution, liquidation, or winding up of Wal-Mart; 
 then
Wal-Mart shall cause to be mailed to the Transfer Agent of the then Series A Preferred Stock and to the holders of record of the outstanding shares of this Series, at least 20 days (or 10 days in any case specified in clause (i) or
(ii) above) prior to the applicable record date hereinafter specified, a notice stated (x) the date on which a record is to be taken for the purpose of such dividend, distribution, rights or warrants, or, if a record is not to be taken,
the date as of which the holders of Common Stock of record to be entitled to such dividend, distribution, rights or warrants are to be determined, or (y) the date on which such reclassification, consolidation, merger, sale, transfer,
dissolution, liquidation or winding up is expected to become effective, and the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their shares of Common Stock for securities or other property
deliverable upon such reclassification, consolidation, merger, sale, transfer, dissolution, liquidation or winding up. 
 (n)
The issue of stock certificates on conversions of Series A Preferred Stock shall be without charge to the converting shareholder for any tax in respect of the issue thereof. Wal-Mart shall not, however, be required to pay any tax which may be
payable in respect of any transfer involved in the issue and delivery of shares in any name other than that of the holder of the Series A Preferred Stock converted, and Wal-Mart shall not be required to issue or deliver any such stock certificate
unless and until the person or persons requesting same shall have paid to Wal-Mart the amount of such tax or shall have established to the satisfaction of Wal-Mart that such tax has been paid. 

(o) Wal-Mart shall at all times reserve and keep available, free from pre-emptive rights, out of its authorized but unissued stock, for
the purpose of effecting the conversion of Series A Preferred Stock such number of its duly authorized shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Series A Preferred Stock. 

FIFTH: The Corporation is to have perpetual existence. 

  
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 SIXTH: In furtherance, and not in limitation, of the powers conferred by law, the board of
Directors of the Corporation is expressly authorized to make, alter or repeal the by-laws of the Corporation in the manner provided in such by-laws. Elections of directors need not be by written ballot unless the by-laws of the Corporation shall so
provide. 
 SEVENTH: The Corporation reserves the right to amend, alter or repeal any provision contained in this Certificate of
Incorporation in the manner now or hereafter prescribed by the statutes of the State of Delaware, and all rights and powers conferred on Directors and stockholders herein are granted subject to this reservation. 

EIGHTH: Whenever a compromise or arrangement is proposed between this Corporation and its creditors or any class of them and/or between
this Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of this Corporation or of any creditor or stockholder thereof, or on the
application of any receiver or receivers appointed for this Corporation under the provisions of Section 291 of Title 8 of the Delaware Code or on the application of trustees in dissolution or of any receiver or receivers appointed for this
Corporation under the provisions of Section 279 of Title 8 of the Delaware Code order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of this Corporation, as the case may be, to be summoned
in such manner as the said court directs. If` a majority in number representing three-fourths in value of the creditors or class of creditors and/or of the stockholders or class of stockholders of this Corporation, as the case may be, agree to any
compromise or arrangement and to any reorganization of this Corporation as consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganization shall, if sanctioned by the court to which the said application
has been made, be binding on all the creditors or class of creditors, and/or on all the stockholders or class of stockholders, of this Corporation, as the case may be, and also on this Corporation. 

NINTH: To the fullest extent permitted by Delaware General Corporation Law as the same exists or may hereafter be amended, a director of
this Corporation shall not be liable to the Corporation or its shareholders for monetary damages for breach of fiduciary duty as a director. 

  
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 4. This Restated Certificate of Incorporation was duly adopted by the board of directors in
accordance with Section 245 of the General Corporation Law of the State of Delaware. 
 IN WITNESS WHEREOF, said WAL-MART
STORES, INC. has caused this certificate to be signed by Robert K. Rhoads, its Vice President and attested by J. Scott Melton, its Assistant Secretary, this 25th day of October, 1988. 

 

			
	WAL-MART STORES, INC.
		
	By:	 	/s/ Robert K. Rhoads
		 	Robert K. Rhoads,
		 	Vice President

  

			
	ATTEST
		
	By:	 	/s/ J. Scott Melton
		 	J. Scott Melton,
		 	Assistant Secretary

  
 14

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