Document:

EX-10.3

 Exhibit 10.3 

 

			
	Name:	 	[•]
	Number of Units:	 	[•]
	Date of Grant:	 	[•]
	Vesting Commencement Date:	 	XX

 The Gymboree Corporation 
 2013 Gymboree China Phantom Equity Incentive Plan 
 THE GYMBOREE
CORPORATION STRONGLY ENCOURAGES YOU TO SEEK THE ADVICE OF YOUR OWN LEGAL AND FINANCIAL ADVISORS WITH RESPECT TO YOUR AWARD AND ITS TAX CONSEQUENCES. 
 AWARD AGREEMENT 
 This agreement (this
“Agreement”) evidences an Award granted by The Gymboree Corporation (the “Company”) to the undersigned (the “Awardee”) pursuant to and subject to the terms of The Gymboree Corporation 2013 Gymboree
China Phantom Equity Incentive Plan (as it may be amended from time to time, the “Plan”), which is incorporated herein by reference. 
 1.     Grant of Award. The Company grants to the Awardee on the date of grant set forth above (the “Date of Grant”) an Award consisting of the number of Units
set forth above. 
 2.     Meaning of Certain Terms. Except as otherwise defined herein, all
capitalized terms used herein have the same meaning as in the Plan. The following terms have the following meanings: 
  

	 	(a)	“Beneficiary” means the death beneficiary named in the written designation (in form acceptable to the Administrator) most recently filed with the
Administrator by the Awardee prior to the Awardee’s death and not subsequently revoked, or, if there is no such designated beneficiary, the executor or administrator of the Awardee’s estate. An effective beneficiary designation will be
treated as having been revoked only upon receipt by the Administrator, prior to the Awardee’s death, of an instrument of revocation in form acceptable to the Administrator. 

 

	 	(b)	“Holder” means the Awardee or, if as of the relevant time the Award has passed to a Beneficiary, the Beneficiary who holds the Award pursuant to the
terms of this Agreement. 

 3.     Expiration Date. The Award, if not earlier
forfeited, cancelled or otherwise terminated, will automatically terminate on the earliest of (i) a Sale, (ii) a Payment Event that is not a Sale if all Units are conditionally vested, or (iii) in the event of a Payment Event that is
not a Sale, the last date on which the Units become conditionally vested, and no amount will become payable in respect of the Award after such date. 

 4.     Conditional Vesting; Vesting; Treatment of the Award Upon
Cessation of Employment. Except as otherwise provided in the Plan or this Agreement, the Award will conditionally vest, if at all, as provided for on Schedule A hereto, which is incorporated herein by reference. The Award, to the extent
conditionally vested, will only vest and become payable upon the occurrence of a Payment Event, as set forth in Section 6 below. Upon the cessation of the Awardee’s Employment for any reason prior to a Payment Event (or, with respect to
any portion of the Award that does not conditionally vest in connection with such Payment Event, prior to the date such portion conditionally vests), the following rules will apply: 

 

	 	(a)	Immediately upon the cessation of the Awardee’s Employment, each Unit that is then held by the Awardee or by the Awardee’s permitted transferees, if any, to
the extent not already conditionally vested will immediately terminate with no consideration due to the Awardee. 

  

	 	(b)	Subject to subsection (c) below, each Unit that is conditionally vested will remain outstanding until the expiration date of the Award as set forth in
Section 3 of this Agreement or as otherwise provided in the Plan, including, without limitation, Section 6(e) of the Plan. 

  

	 	(c)	All Units (whether or not vested or conditionally vested) held by a Participant or the Awardee’s permitted transferees, if any, immediately prior to the cessation
of the Awardee’s Employment will immediately terminate with no consideration due to the Awardee upon such cessation of Employment if the termination is for Cause or occurs in circumstances that in the sole determination of the Administrator
would have constituted grounds for the Awardee’s Employment to be terminated for Cause. 

 5.
    Effect of a Sale. Notwithstanding anything to the contrary in the Plan or this Agreement, this Award will immediately conditionally vest in full upon the occurrence of a Sale, subject to the Awardee remaining in
continuous Employment through the date of such Sale. 
 6.     Payment in Respect of Awards.

  

	 	(a)	Within 75 days after the occurrence of a Payment Event, the Company shall make a lump sum payment in cash to the Holder that is equal to the product of (i) the
value of the Pool (determined in accordance with Section 6(j) of the Plan) and (ii) (A) the number of conditionally vested Units held by the Holder, divided by (B) 1,000,000. 

 

	 	(b)	 If the Payment Event is not a Sale, the portion of the Award that is not conditionally vested at the time of the Payment Event shall remain eligible to
conditionally vest following the Payment Event in accordance with Schedule A hereto. With respect to Units that conditionally vest after the occurrence of a Payment Event, if any, on the date such portion conditionally vests, the Company
shall make a lump sum payment in cash to the Holder that is equal to the product 

	 	
of (i) the value of the Pool (determined in accordance with Section 6(j) of the Plan) and (ii) (A) the number of Units held by the Holder that conditionally vested on such
date, divided by (B) 1,000,000. 

  

	 	(c)	For the avoidance of doubt, no payment shall be required under the Plan if the value of the Pool is zero, and the Holder shall not be entitled to any interest in the
Pool in excess of the amount determined under Section 6(a) or Section 6(b), as applicable. 

 7.
    Transfer of Award. The Award may not be transferred except as expressly permitted under Section 6(b) of the Plan. 
 8.     Withholding. The Awardee expressly acknowledges and agrees that the Awardee’s rights to receive any amounts payable hereunder will be reduced by such amounts as are
required to satisfy withholding of all federal, state, local or other taxes required to be withheld, if any. 
 9.
    Effect on Employment. The grant of the Award will not give the Awardee any right to continued Employment with the Company or any of its Affiliates, affect the right of the Company or any of its Affiliates to discharge
or discipline such Awardee at any time, or affect any right of such Awardee to terminate his or her Employment at any time. 

10.     Governing Law. This Agreement and all claims or disputes arising out of or based upon this Agreement
or relating to the subject matter hereof will be governed by and construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of laws provision or rule that would cause the
application of the domestic substantive laws of any other jurisdiction. 
 For the avoidance of doubt, the provisions of this
Agreement and the Plan shall apply to the Award, including without limitation the vesting and conditional vesting (if any) of the Award, notwithstanding any provision relating to the vesting, conditional vesting or other treatment of equity-based
awards of the Company or its Affiliates contained in any other agreement between the Awardee and the Company or any Affiliate. 

 Executed as of the ___ day of
[—], 201[_]. 
  

					
	Company:	 	THE GYMBOREE CORPORATION
	 	 	 	 	 
		 	By:	 	 
		 	Name:	 	
		 	Title:	 	

  

					
	 	 	 	 	 
	Awardee:	 		 	 
		 	Name:	 	
		 	Address:	 	

  

 Schedule A 

Conditional Vesting Schedule 
 Unless earlier terminated or forfeited, the Award will conditionally vest, if at all, as to 20% of the Units subject to the Award on each of the first five anniversaries of the Vesting Commencement Date
set forth above. For the avoidance of doubt, 20% of the Units subject to the Award will be conditionally vested as of the Date of Grant.EX-4.1

 EXHIBIT 4.1 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW
YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE
HEREOF. 
  

			
	No.       	  	$            

 CUSIP No: 92343V BL7 
 ISIN No:
US92343VBL71 
 Common Code: 092890406 
 Verizon
Communications Inc. 
 Floating Rate Note due 2016 

Verizon Communications Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the
“Company”), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of              Dollars
($            ) on September 15, 2016, and to pay interest on said principal sum at the floating rate per annum determined in accordance with the provisions below (the
“interest rate”), until the principal hereof shall have become due and payable, and on any overdue principal and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at
the same rate per annum. This Debt Security (or one or more Predecessor Securities, as defined in the Indenture) shall bear interest at a rate per annum equal to LIBOR (as defined below) plus 1.53%, which rate will be reset quarterly (as described
below), and will be payable quarterly in arrears on each March 15, June 15, September 15 and December 15, each an “interest payment date.” If any interest payment date falls on a day that is not a business day
(as defined below), the Company will make the interest payment on the next succeeding business day unless such business day is in the next succeeding calendar month, in which case the Company will make the interest payment on the immediately
preceding business day. 
 Interest on this Debt Security will accrue from, and including, September 18, 2013 to, but excluding, the next applicable
interest payment date or the maturity date, as the case may be (each, an “interest period”). The amount of accrued interest payable for any interest period shall be calculated by multiplying the face amount of this Debt Security by an
accrued interest factor. Such accrued interest factor is computed by adding the interest factor calculated for each day from September 18, 2013, or from the immediately preceding interest payment date to which interest has been paid or duly
provided for, to the date for which accrued interest is being calculated. The interest factor for each day shall be computed by dividing the interest rate applicable to such day by 360. 

If the maturity date of this Debt Security falls on a day that is not a business day, the payment of principal, premium, if any, and interest shall be made on
the next succeeding business day, as if made on the date such payment was due, and no interest on such payment shall accrue on such payment for the period from and after the maturity date to the date of such payment on the next succeeding business
day. 
 The interest installment so payable, and punctually paid or duly provided for, on any interest payment date will, as provided in the Indenture
hereinafter referred to, be paid to the person in whose name this Debt Security (or one or more Predecessor Securities, as defined in said Indenture) is registered at the close of business on the regular record date for such interest installment,
which shall be the March 1, June 1, September 1 or December 1, as the case may be (whether or not a business day), next preceding such interest payment date. However, interest that the Company pays on the maturity date
shall be payable to the person to whom the principal 

 
hereof shall be payable. Any such interest installment not so punctually paid or duly provided for shall forthwith cease to be payable to the registered holder on such regular record date, and
may be paid to the person in whose name this Debt Security (or one or more Predecessor Securities) is registered at the close of business on a special record date to be fixed by the Trustee for the payment of such defaulted interest, notice whereof
shall be given to the registered holders of this series of Debt Securities as provided in the Indenture, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt
Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture hereinafter referred to. 

As used herein, “business day” means any day other than a Saturday or a Sunday that is neither a legal holiday nor a day on which commercial banks
are authorized or required by law, regulation or executive order to close in The City of New York; provided, that such day is also a London business day. “London business day” means any day on which commercial banks are open for business,
including dealings in U.S. dollars, in London. 
 The interest rate on this Debt Security shall be calculated by the calculation agent, which will be an
independent investment banking or commercial banking institution of international standing appointed by the Company and shall be equal to LIBOR (as defined below) plus 1.53%; provided, however, that the interest rate in effect for the period from
September 18, 2013 to but excluding December 15, 2013, the initial interest reset date, shall be         % (the “initial interest rate”). The calculation agent will reset the
interest rate on each interest payment date, each of which is an “interest reset date.” The second London business day preceding an interest reset date will be the “interest determination date” for that interest reset date. The
interest rate in effect on each day that is not an interest reset date shall be the interest rate determined as of the interest determination date pertaining to the immediately preceding interest reset date; provided, however, that the interest rate
in effect for the period from and including September 18, 2013, to but excluding the initial interest reset date shall be the initial interest rate. The interest rate in effect on any day that is an interest reset date shall be the interest
rate determined as of the interest determination date pertaining to such interest reset date. 
 “LIBOR” shall be determined by the calculation
agent in accordance with the following provisions: 
 (i) With respect to any interest determination date, LIBOR shall be the rate for
deposits in U.S. dollars having a maturity of three months commencing on the first day of the applicable interest period that appears on the Designated LIBOR Page as of 11:00 A.M., London time, on such interest determination date. If no such
rate appears, then LIBOR, in respect to such interest determination date, shall be determined in accordance with the provisions described in (ii) below. 

(ii) With respect to an interest determination date on which no rate appears on the Designated LIBOR Page, as specified in (i) above, the
calculation agent will request the principal London offices of each of four major reference banks in the London interbank market, as selected by the calculation agent, to provide the calculation agent with its offered quotation for deposits in U.S.
dollars for the period of three months, commencing on the first day of the applicable interest period, to prime banks in the London interbank market at approximately 11:00 A.M., London time, on such interest determination date and in a principal
amount that is representative for a single transaction in U.S. dollars in such market at such time. If at least two such quotations are so provided, then LIBOR on such interest determination date shall be the arithmetic mean of such quotations. If
fewer than two such quotations are so provided, then LIBOR on such interest determination date shall be the arithmetic mean of the rates quoted at approximately 11:00 A.M., in The City of New York, on such interest determination date by three major
banks in The City of New York selected by the calculation agent for loans in U.S. dollars to leading European banks, having a three month maturity and in a principal amount that is representative for a single transaction in U.S. dollars in such
market at such time; provided, however, that if the banks so selected by the calculation agent are not providing quotations in the manner described in this sentence, LIBOR determined as of such interest determination date shall be LIBOR in effect on
such interest determination date. 
 “The Designated LIBOR Page” means the Reuters screen “LIBOR01” page, or any successor page on
Reuters selected by the Company with the consent of the calculation agent, or if the Company determines that no such successor page shall exist on Reuters, an equivalent page on any successor service selected by the Company with the consent of the
calculation agent. 
 The calculation agent (which initially shall be U.S. Bank National Association, as successor to Wachovia Bank, National Association,
and which may be changed by the Company from time to time) shall calculate the interest rate on this Debt Security on or before each calculation date and, upon request, provide holders of the Debt Securities the interest rate then in effect and, if
determined, the interest rate which shall become effective as a result of a determination made for the next succeeding interest reset date with respect to this Debt Security. The calculation agent’s determination of any interest rate shall be
final and binding absent error in the calculation thereof. The “calculation date” pertaining to any interest determination date shall be the earlier of (a) the tenth calendar day after such interest determination date, or if any such
day is not a business day, the next succeeding business day, or (b) the business day immediately preceding the applicable interest payment date or the maturity date, as the case may be. 

  
 2 

 Notwithstanding the other provisions herein, the interest rate hereon shall in no event be higher than the
maximum rate permitted by New York law, as the same may be modified by United States law of general application. 
 Except as otherwise provided herein, all
percentages resulting from any calculation shall be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with five one-millionths of a percentage point rounded upwards (e.g., 9.876545% (or .09876545) would be rounded
to 9.87655% (or .0987655)), and all amounts used in or resulting from such calculation shall be rounded to the nearest cent (with one-half cent being rounded upward). 

The principal of and the interest on this Debt Security shall be payable at the office or agency of the Company maintained for that purpose in the City of New
York, State of New York in any coin or currency of the United States of America which at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the
Company by check mailed to the registered holder at such address as shall appear in the Security Register. This Debt Security shall not be entitled to any benefit under the Indenture hereinafter referred to, or be valid or become obligatory for any
purpose, until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. 
 The provisions of this Debt Security are
continued on the reverse side hereof and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 

  
 3 

 IN WITNESS WHEREOF, the Company has caused this instrument to be executed. 

 

			
	Dated:   	  	VERIZON COMMUNICATIONS INC.
		
		  	By                                     
                               
		  	      Name:
		  	      Title:

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated herein referred to in the within-mentioned Indenture. 

U.S. Bank National Association 
 as
Trustee, Authenticating Agent and 
 Security Registrar 

By                       
                                         
                      
 Authorized
Signatory 
 Dated:    

 (FORM OF REVERSE OF DEBT SECURITY) 

This Debt Security is one of a duly authorized series of Debt Securities of the Company (herein sometimes referred to as the “Securities”), all
issued or to be issued in one or more series under and pursuant to an Indenture dated as of December 1, 2000, duly executed and delivered by the Company, as successor in interest to Verizon Global Funding Corp. and U.S. Bank National
Association, as successor to Wachovia Bank, National Association, formerly known as First Union National Bank (hereinafter referred to as the “Trustee”), as amended and supplemented (the “Indenture”), to which Indenture reference
is hereby made for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the holders of the Securities. By the terms of the Indenture, the Securities are issuable in series
which may vary as to amount, date of maturity, rate of interest and in other respects as in the Indenture provided. This Debt Security is one of the series designated on the face hereof (herein called the “Debt Securities”) unlimited in
aggregate principal amount. 
 Beneficial interests in this global Debt Security may be held in minimum denominations of $2,000 and integral multiples of
$1,000 in excess of $2,000. This global Debt Security shall be exchangeable for Debt Securities in definitive form registered in the names of persons other than the Depository or its nominee only if (i) the Depository notifies the Company that
it is unwilling or unable to continue as the Depository or if at any time such Depository is no longer registered or in good standing under the Securities Exchange Act of 1934 or other applicable statute and a successor depository is not appointed
by the Company within 90 days or (ii) the Company executes and delivers to the Trustee an Officers’ Certificate that the global Debt Security shall be so exchangeable. To the extent that the global Debt Security is exchangeable pursuant to
the preceding sentence, it shall be exchangeable for Debt Securities registered in such names as the Depository shall direct. Debt Securities represented by this global Debt Security that may be exchanged for Debt Securities in definitive form under
the circumstances described in this paragraph will be exchangeable only for Debt Securities in definitive form issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess of $2,000. Notwithstanding any other provision
herein, this global Debt Security may not be transferred except as a whole by the Depository to a nominee of such Depository or by a nominee of such Depository to such Depository or another nominee of such Depository. 

In case an Event of Default, as defined in the Indenture, with respect to the Debt Securities shall have occurred and be continuing, the principal of all of
the Debt Securities may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture. 

The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a majority in aggregate principal
amount of the Securities of each series affected at the time outstanding, as defined in the Indenture, to execute supplemental indentures for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of the Securities; provided, however, that no such supplemental indenture shall, among other things, (i) extend the fixed maturity of any
Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof, without the consent of the holder of each Debt
Security so affected or (ii) reduce the aforesaid percentage of Debt Securities, the holders of which are required to consent to any such supplemental indenture, without the consent of the holders of each Debt Security then outstanding and
affected thereby. The Indenture also contains provisions permitting the holders of a majority in aggregate principal amount of the Securities of any series at the time outstanding, on behalf of the holders of Securities of such series, to waive any
past default in the performance of any of the covenants contained in the Indenture, or established pursuant to the Indenture with respect to such series, and its consequences, except a default in the payment of the principal of, or premium, if any,
or interest on any of the Securities of such series. Any such consent or waiver by the registered holder of this Debt Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such holder and upon all future holders
and owners of this Debt Security and of any Debt Security issued in exchange herefor or in place hereof (whether by registration of transfer or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon this Debt
Security. 
 No reference herein to the Indenture and no provision of this Debt Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and interest on this Debt Security at the times and place and at the rate and in the money herein prescribed. 

The Debt Securities are issuable as registered Debt Securities without coupons. 

The Debt Securities shall be in minimum denominations of $2,000 and integral multiples of $1,000 in excess of $2,000.   Debt Securities may be
exchanged, upon presentation thereof for that purpose, at the office or agency of the Company in the City of New York, State of New York, for other Debt Securities of authorized denominations, and for a like aggregate principal amount and series,
and upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto. 

 Other than as set forth below, the Debt Securities may not be redeemed prior to maturity. 

In the event (i) the Company does not complete the Acquisition on or prior to September 2, 2014 or (ii) the Acquisition Agreement is terminated
on or at any time prior thereto, the Company shall redeem all the Debt Securities on the Special Mandatory Redemption Date at the Special Mandatory Redemption Price.   The Company, or the Trustee on the Company’s behalf, shall
promptly cause the notice of Special Mandatory Redemption to be distributed following the occurrence of the event triggering redemption to each holder. On the date that funds sufficient to pay the Special Mandatory Redemption Price of the Debt
Securities to be redeemed on the Special Mandatory Redemption Date are deposited with the paying agent or the Trustee, the Debt Securities shall cease to accrue interest and, other than the right to receive the Special Mandatory Redemption Price,
all rights under the Debt Securities shall terminate. 
 “Acquisition” means the acquisition by the Company of Vodafone 4 Limited’s 45%
indirect ownership interest in Cellco Partnership d/b/a Verizon Wireless. 
 “Acquisition Agreement” means the stock purchase agreement, dated as
of September 2, 2013, among Vodafone Group PLC, Vodafone 4 Limited and the Company, as may be amended from time to time. 
 “Special Mandatory
Redemption Date” means the earlier to occur of (i) October 2, 2014, if the proposed Acquisition has not been completed on or prior to September 2, 2014 or (ii) the twentieth business day following the termination of the
Acquisition Agreement. 
 “Special Mandatory Redemption Price” means 101% of the aggregate principal amount of the Debt Securities, plus accrued
and unpaid interest from the date of initial issuance (or the most recent interest payment date on which interest was paid) to, but not including, the Special Mandatory Redemption Date (subject to the right of holders of record on the relevant
record date to receive interest due on the relevant interest payment date). 
 The provisions relating to Special Mandatory Redemption described above may
not be waived or modified with respect to the Debt Securities without the written consent of holders of at least 90% in principal amount of the Debt Securities outstanding. 

As provided in the Indenture and subject to certain limitations therein set forth, this Debt Security is transferable by the registered holder hereof on the
Security Register of the Company, upon surrender of this Debt Security for registration of transfer at the office or agency of the Company in the City of New York, State of New York accompanied by a written instrument or instruments of transfer in
form satisfactory to the Company or the Security Registrar duly executed by the registered holder hereof or his attorney duly authorized in writing, and thereupon one or more new Debt Securities of authorized denominations and for the same aggregate
principal amount and series will be issued to the designated transferee or transferees. No service charge will be made for any such transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in relation thereto. 
 Prior to due presentment for registration of transfer of this Debt Security the Company, the Trustee, any paying agent and
any Security Registrar for the Debt Securities may deem and treat the registered holder hereof as the absolute owner hereof (whether or not this Debt Security shall be overdue and notwithstanding any notice of ownership or writing hereon made by
anyone other than the Security Registrar for the Debt Securities) for the purpose of receiving payment of or on account of the principal hereof and (subject to Section 310 of the Indenture) interest due hereon and for all other purposes, and
neither the Company nor the Trustee nor any paying agent nor any Security Registrar for the Debt Securities shall be affected by any notice to the contrary. 

No recourse shall be had for the payment of the principal of or the interest on this Debt Security, or for any claim based hereon, or otherwise in respect
hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor or successor corporation, whether by virtue of any constitution,
statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. 

The Depository by acceptance of this global Debt Security agrees that it will not sell, assign, transfer or otherwise convey any beneficial interest in this
global Debt Security unless such beneficial interest is in an amount equal to an authorized denomination for Debt Securities of this series. 
 Capitalized
terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Indenture. 

  
 2

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