Document:

EX-4.5

 Exhibit 4.5 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is made and entered into on November 30, 2018, among The Dow
Chemical Company (the “Company”) and Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc.,
acting as representatives (the “Representatives”) of the several initial purchasers listed on Schedule I hereto (the “Initial Purchasers”). 

This Agreement is made pursuant to the Purchase Agreement dated November 28, 2018, among the Company and the Representatives on behalf of
the Initial Purchasers (the “Purchase Agreement”), which provides for the sale by the Company to the Initial Purchasers of $500,000,000 principal amount of its 4.550% Notes due 2025 (the “2025 Notes”), $600,000,000
principal amount of its 4.800% Notes due 2028 (the “2028 Notes”) and $900,000,000 principal amount of its 5.550% Notes due 2048 (the “2048 Notes” and, together with the 2025 Notes and 2028 Notes, the
“Securities”). 
 In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Company has agreed to
provide to the Initial Purchasers and their direct and indirect transferees the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement. 

In consideration of the foregoing, the parties hereto agree as follows: 

 

	 	1.	 Definitions. 

As used in this Agreement, the following capitalized defined terms shall have the following meanings: 

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

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

“Closing Date” shall mean the Closing Date as defined in the Purchase Agreement. 

“Company” shall have the meaning set forth in the preamble and shall also include the Company’s
successors. 
 “Exchange Offer” shall mean the exchange offer by the Company of Exchange Securities of each
series for Registrable Securities of such series pursuant to Section 2(a) hereof. 
 “Exchange Offer
Registration” shall mean a registration under the 1933 Act effected pursuant to Section 2(a) hereof. 

 “Exchange Offer Registration Statement” shall mean an
exchange offer registration statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments and supplements to such registration statement, in each case including the Prospectus
contained therein or deemed a part thereof, all exhibits thereto and all material incorporated by reference therein. 

“Exchange Securities” shall mean notes of a series issued by the Company under the Indenture containing terms
identical to the applicable series of Securities (except that (i) interest thereon shall accrue from the last date on which interest was paid on the Securities or, if no such interest has been paid, from November 30, 2018 and (ii) the
Exchange Securities will not contain restrictions on transfer) and to be offered to Holders of Securities of such series in exchange for securities pursuant to the Exchange Offer for such series. 

“FINRA” shall mean the Financial Industry Regulatory Authority, Inc. 

“Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the Securities Act)
prepared by or on behalf of the Company or used or referred to by the Company in connection with the sale of the Securities or the Exchange Securities. 

“Holder” shall mean the Initial Purchasers, for so long as they own any Registrable Securities, and each of
their respective successors, assigns and direct and indirect transferees who become registered owners of Registrable Securities under the Indenture; provided that for purposes of Sections 4 and 5 of this Agreement, the term “Holder”
shall include Participating Broker-Dealers (as defined in Section 4(a)). 
 “Indenture” shall mean the
Indenture relating to the Securities dated May 1, 2008, as amended or supplemented, among the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”). 

“Initial Purchasers” shall have the meaning set forth in the preamble. 

“Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of outstanding
Registrable Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, Registrable Securities held by the Company or any of its affiliates (as such term is
defined in Rule 405 under the 1933 Act) (other than the Initial Purchasers or subsequent Holders of Registrable Securities if such subsequent holders are deemed to be such affiliates solely by reason of their holding of such Registrable Securities)
shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount; and provided, further, that if the Company shall issue any additional Securities, other than Securities issued in
transactions registered under the 1933 Act, under the Indenture prior to consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional Securities and the Registrable Securities to which
this Agreement relates shall be treated together as one class for purposes of determining whether the consent or approval of Holders of a specified percentage of Registrable Securities has been obtained. 

  
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 “Participating Broker-Dealer” shall have the meaning set
forth in Section 4(a). 
 “Person” shall mean an individual, partnership, limited liability company,
corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 

“Prospectus” shall mean the prospectus included in (or, pursuant to the rules and regulations of the 1933 Act,
deemed a part of) a Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any
portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to such prospectus, and in each case including all material incorporated or deemed by the securities laws to be incorporated
by reference therein. 
 “Purchase Agreement” shall have the meaning set forth in the preamble. 

“Registrable Securities” shall mean the Securities; provided, however, that the Securities shall
cease to be Registrable Securities (i) when a Registration Statement with respect to such Securities shall have been declared effective under the 1933 Act and such Securities are exchanged for Exchange Securities in the Exchange Offer,
(ii) when a Shelf Registration Statement with respect to such Securities shall have been declared effective under the 1933 Act and such Securities shall have been disposed of pursuant to such Registration Statement, (iii) when such
Securities have been sold to the public pursuant to Rule 144 (or any similar provision then in force, but not Rule 144A) under the 1933 Act or (iv) when such Securities shall have ceased to be outstanding. 

“Registration Expenses” shall mean any and all properly documented out-of-pocket fees and expenses incident to performance of or compliance by the Company with this Agreement, including without limitation: (i) all SEC, stock exchange or FINRA registration and filing
fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and disbursements of counsel for any underwriters or Holders in connection with blue sky qualification of
any of the Exchange Securities or Registrable Securities), (iii) all expenses of any Persons in preparing or assisting in preparing, word processing, printing and distributing any Registration Statement, any Prospectus, any Free Writing Prospectus
and any amendments or supplements thereto, any underwriting agreements, securities sales agreements and other documents relating to the performance of and compliance with this Agreement, (iv) all rating agency fees, (v) all fees and
disbursements relating to the qualification of the Indenture under applicable securities laws, if applicable, (vi) the fees and disbursements of the Trustee and its counsel and any depositary for book entry Securities, (vii) the fees and
disbursements of counsel for the Company and, in the case of a Shelf Registration Statement, the fees and disbursements of one counsel for the Holders (which counsel shall be selected by the Majority Holders and reasonably

  
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satisfactory to the Company (which counsel may also be counsel for the Initial Purchasers)) and (viii) the fees and disbursements of the independent public accountants of the Company (and,
if necessary, any other certified public accountant of any subsidiary of the Company, or of any business acquired by the Company for which financial statements and financial data are or are required to be included in the Registration Statement),
including the expenses of any special audits or “comfort” letters required by or incident to such performance and compliance, but excluding fees and expenses of counsel to the underwriters (other than fees and expenses set forth in clause
(ii) above) or the Holders and underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Securities by a Holder. 

“Registration Statement” shall mean any registration statement of the Company that covers any of the Exchange
Securities or Registrable Securities pursuant to the provisions of this Agreement and all amendments and supplements to any such Registration Statement, including post-effective amendments, in each case including the Prospectus contained therein,
all exhibits thereto and all material incorporated or deemed by securities laws to be incorporated by reference therein. 

“SEC” shall mean the Securities and Exchange Commission. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company pursuant
to the provisions of Section 2(b) of this Agreement which covers all of the Registrable Securities (but no other securities unless approved by the Holders whose Registrable Securities are covered by such Shelf Registration Statement) on an
appropriate form under Rule 415 under the 1933 Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus
contained therein, all exhibits thereto and all material incorporated or deemed by securities laws to be incorporated by reference therein. 

“Staff” shall have the meaning set forth in Section 2(a) hereof. 

“TIA” shall have the meaning set forth in Section 3 hereof. 

“Trustee” shall mean the trustee with respect to the Securities under the Indenture. 

“Underwriter” shall have the meaning set forth in Section 3 hereof. 

“Underwritten Registration” or “Underwritten Offering” shall mean a registration in which
Registrable Securities are sold to an Underwriter for reoffering to the public. 

  
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	 	2.	 Registration Under the 1933 Act. 

(a)    To the extent not prohibited by any applicable law or applicable interpretation of the Staff of the SEC (the
“Staff”), the Company shall use commercially reasonable efforts to cause to be filed an Exchange Offer Registration Statement covering the offer by the Company to the Holders to exchange all of the Registrable Securities for
Exchange Securities and to have such Registration Statement remain effective until the closing of the Exchange Offer. The Company shall commence the Exchange Offer for each series promptly after the Exchange Offer Registration Statement has been
declared effective by the SEC and use its commercially reasonable efforts to have the Exchange Offer for such series consummated not later than 90 days after such effective date. The Company shall commence the Exchange Offer for each series by
sending the related exchange offer Prospectus and accompanying documents to each Holder stating, in addition to such other disclosures as are required by applicable law: 

(i)    that the Exchange Offer is being made pursuant to this Registration Rights Agreement and that all
Registrable Securities of such series validly tendered will be accepted for exchange; 
 (ii)    the
dates of acceptance for exchange (which shall be a period of at least 20 business days from the date such notice is sent, or longer if required by applicable law) (the “Exchange Dates”); 

(iii)    that any Registrable Security not tendered will remain outstanding and continue to accrue
interest, but will not retain any rights under this Registration Rights Agreement; 
 (iv)    that
Holders electing to have a Registrable Security of a series exchanged pursuant to the Exchange Offer for such series will be required to surrender such Registrable Security, together with the enclosed letters of transmittal, to the institution and
at the address (located in the Borough of Manhattan, The City of New York) specified in the notice prior to the close of business on the last Exchange Date; provided, however, that, if any of the Registrable Securities are in
book-entry form, such Prospectus and accompanying documents shall also specify how the surrender is to be effected in accordance with applicable book-entry procedures; and 

(v)    that Holders will be entitled to withdraw their election, not later than the close of business on
the last Exchange Date, by sending to the institution and at the address (located in the Borough of Manhattan, The City of New York) specified in the notice, a telegram, telex, facsimile transmission or letter setting forth the name of such Holder,
the principal amount of Registrable Securities delivered for exchange and a statement that such Holder is withdrawing his election to have such Securities exchanged. 

As soon as practicable after the last Exchange Date with respect to an Exchange Offer for Registrable Securities of a series, the Company
shall: 
 (1)    accept for exchange Registrable Securities of such series or portions thereof tendered
and not validly withdrawn pursuant to the Exchange Offer; and 

  
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 (2)    deliver, or cause to be delivered, to the Trustee
for cancellation all Registrable Securities of such series or portions thereof so accepted for exchange by the Company and issue, and cause the Trustee to promptly authenticate and mail to each Holder, an Exchange Security of such series equal in
principal amount to the principal amount of the Registrable Securities of such series surrendered by such Holder; provided that if any of the Registrable Securities are in book-entry form, the Company shall, in cooperation with the Trustee,
effect the exchange of Registrable Securities in accordance with applicable book-entry procedures. 
 The Company shall use its commercially
reasonable efforts to complete the Exchange Offer as provided above and shall comply with the applicable requirements of the 1933 Act, the 1934 Act and other applicable laws and regulations in connection with the Exchange Offer. The Exchange Offer
shall not be subject to any conditions, other than that the Exchange Offer does not violate applicable law or any applicable interpretation of the Staff of the SEC. Upon request by the Initial Purchasers, the Company shall inform the Initial
Purchasers of the names and addresses of the Holders to whom the Exchange Offer is made, and the Initial Purchasers shall have the right, subject to applicable law, to contact such Holders and otherwise facilitate the tender of Registrable
Securities in the Exchange Offer. 
 Each Holder that participates in the Exchange Offer, as a condition to participation in the Exchange
Offer, will be required to represent to the Company in writing (which may be contained in the applicable letter of transmittal) that at the time of consummation of the Exchange Offer: (i) any Exchange Securities received in exchange for
Registrable Securities tendered are being acquired in the ordinary course of business of the Person receiving such Exchange Securities; (ii) such Holder has no arrangements or understandings with any Person to participate in the distribution
(within the meaning of the 1933 Act) of the Exchange Securities within the meaning of the 1933 Act; (iii) such Holder is not an “affiliate” (as defined in Rule 405 of the 1933 Act) of the Company; (iv) if such Holder is not a
broker-dealer, that it is not engaged in, and does not intend to engage in a distribution of the Exchange Securities; and (v) if such Holder is a Participating Broker-Dealer, such Holder will receive Exchange Securities for its own account in
exchange for Securities that were acquired as a result of market-making activities or other trading activities and that it will comply with the applicable provisions of the 1933 Act (including, but not limited to, the prospectus delivery
requirements thereunder). 
 (b)    In the event that (i) the Company determines that the Exchange Offer
Registration provided for in Section 2(a) above is not available or may not be consummated as soon as practicable after the last Exchange Date because it would violate applicable law or the applicable interpretations of the Staff, (ii) the
Exchange Offer is not for any other reason consummated on or prior to the 365th day following the Closing Date (or if such 365th day is not a business day, the next succeeding business day) or (iii) any Holder of Registrable Securities of the
applicable series notifies the Company prior to the 20th day following the consummation of the Exchange Offer that (A) it is prohibited by law or SEC policy from participating in the Exchange Offer, (B) it may not resell the Exchange
Securities acquired by it in the Exchange Offer to the public without delivering a prospectus and the prospectus contained in the Exchange Offer Registration Statement is not appropriate or available for such resales, or (C) it is a
broker-dealer and owns Securities acquired directly from the Company or an affiliate of the Company, then the Company shall use its commercially reasonable efforts to cause to be filed as soon as 

  
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practicable after such determination, date or notice is given to the Company, as the case may be, a Shelf Registration Statement providing for the sale by the Holders of all of the Registrable
Securities of such series (other than those who fail to comply with the immediately preceding paragraph and Section 3(b) hereof) and to have such Shelf Registration Statement declared effective by the SEC promptly. In the event the Company is
required to file a Shelf Registration Statement solely as a result of the matters referred to in clause (iii) of the preceding sentence, the Company shall use its commercially reasonable efforts to file and have declared effective by the SEC
both an Exchange Offer Registration Statement pursuant to Section 2(a) with respect to all Registrable Securities and a Shelf Registration Statement (which may be a combined Registration Statement with the Exchange Offer Registration Statement)
with respect to offers and sales of Registrable Securities held by the Initial Purchasers after completion of the Exchange Offer. The Company agrees to use its commercially reasonable efforts to keep the Shelf Registration Statement continuously
effective until two years from the Closing Date or such shorter period that will terminate when all of the Registrable Securities covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement or cease to be
Registrable Securities within the meaning of this Agreement (the “Shelf Registration Period”). The Company further agrees to supplement or amend the Shelf Registration Statement and any Free Writing Prospectus if required by the
rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the 1933 Act or by any other rules and regulations thereunder for shelf registration or if reasonably requested by
a Holder with respect to information relating to such Holder, and to use its commercially reasonable efforts to cause any such amendment to become effective and such Shelf Registration Statement or Free Writing Prospectus to become usable as soon as
thereafter practicable. The Company agrees to furnish to the Holders of Registrable Securities copies of any such supplement or amendment promptly after its being used or filed with the SEC; provided that the Company shall be deemed to have
furnished such amendment or supplement if it shall have timely made such amendment or supplement available on “EDGAR.” 

(c)    The Company shall pay all Registration Expenses in connection with the registration pursuant to Section 2(a)
and Section 2(b). Each Holder shall pay all underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf Registration Statement and any
other expenses incurred by it that are not Registration Expenses. 
 (d)    An Exchange Offer Registration Statement
pursuant to Section 2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective unless it has been declared effective by the SEC or become effective automatically upon filing;
provided, however, that if after it has been declared effective, the offering of Registrable Securities pursuant to a Shelf Registration Statement is interfered with by any stop order, injunction or other order or requirement of the
SEC or any other governmental agency or court, such Registration Statement will be deemed not to have been effective during the period of such interference until the offering of Registrable Securities pursuant to such Registration Statement may
legally resume. In the event (1) the Exchange Offer is not consummated on or prior to the 365th day following the Closing Date, (2) the Shelf Registration Statement, if required pursuant to Section 2(b), is not declared effective on
or prior to the 365th day following the Closing Date, or (3) in the case of a Shelf Registration Statement, it becomes effective and thereafter ceases to be effective or usable (x) at any time during the Shelf

  
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Registration Period and such failure to remain effective or usable exists for more than 30 days (whether or not consecutive) in any 12-month period or
(y) on more than two occasions in any 12-month period during the Shelf Registration Period (each such event referred to in clauses (1), (2) and (3), a “Registration Default”), then with
respect to the first 90-day period immediately following the occurrence of such Registration Default, the interest rate on the Registrable Securities of the applicable series will be increased by 0.25% per
annum and will increase by an additional 0.25% per annum on the principal amount of Securities with respect to each subsequent 90-day period, up to maximum amount of additional interest of 0.50% per annum
(“Additional Interest”). Additional Interest, if any, will be paid by the Company on each interest payment date to Holders in the same manner as payments of interest on the Securities. A Registration Default ends when the Securities
cease to be Registrable Securities or, if earlier, (i) in the case of a Registration Default under clause (1) of the definition thereof, when the Exchange Offer for such series is completed or the Shelf Registration Statement covering such
Registrable Securities becomes effective, (ii) in the case of a Registration Default under clause (2) of the definition thereof, when the Shelf Registration Statement becomes effective or (iii) in the case of a Registration Default
under clause (3) of the definition thereof, when the Shelf Registration Statement again becomes effective and usable. If at any time more than one Registration Default has occurred and is continuing, then, until the next date that there is no
Registration Default, the increase in interest rate provided for by this paragraph shall apply as if there occurred a single Registration Default that begins on the date that the earliest such Registration Default occurred and ends on such next date
on which there is no Registration Default. A Holder of Registrable Securities or Exchange Securities who is not entitled to the benefits of the Shelf Registration Statement (including because such Holder has failed to comply with the paragraph
immediately preceding clause (b) of Section 2 and Section 3(b) hereof) shall not be entitled to Additional Interest with respect to a Registration Default that pertains to the Shelf Registration Statement. 

(e)    Without limiting the remedies available to the Initial Purchasers and the Holders, the Company acknowledges that
any failure by the Company to comply with its obligations under Section 2(a) and Section 2(b) hereof may result in material irreparable injury to the Initial Purchasers or the Holders for which there is no adequate remedy at law, that it
will not be possible to measure damages for such injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder may obtain such relief as may be required to specifically enforce the Company’s obligations
under Section 2(a) and Section 2(b) hereof. 
  

	 	3.	 Registration Procedures. 

(a)    In connection with the obligations of the Company with respect to the Registration Statements pursuant to
Section 2(a) and Section 2(b) hereof, the Company shall: 
 (i)    prepare and file with the
SEC a Registration Statement on the appropriate form under the 1933 Act, which form (x) shall be selected by the Company and (y) shall, in the case of a Shelf Registration, be available for the sale of the Registrable Securities by the
selling Holders thereof and (z) shall comply as to form in all material respects with the requirements of the applicable form and include all financial statements required by the SEC to be filed therewith, and use its commercially reasonable
efforts to cause such Registration Statement to become effective and remain effective in accordance with Section 2 hereof; 

  
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 (ii)    prepare and file with the SEC such amendments
and post-effective amendments to each Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period and cause each Prospectus to be supplemented by any required prospectus supplement and, as so
supplemented, to be filed pursuant to Rule 424 under the 1933 Act; to keep each Prospectus current during the period described under Section 4(a)(3) and Rule 174 under the 1933 Act that is applicable to transactions by brokers or dealers with
respect to the Registrable Securities or Exchange Securities; 
 (iii)    in the case of a Shelf
Registration, furnish to each Holder of Registrable Securities, to counsel for the Initial Purchasers, to counsel for the Holders and to each Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge, as many copies
of each Prospectus, including each preliminary or Free Writing Prospectus, and any amendment or supplement thereto and such other documents as such Holder, counsel or Underwriter may reasonably request, in order to facilitate the public sale or
other disposition of the Registrable Securities; and the Company consents to the use of such Prospectus and any amendment or supplement thereto in accordance with applicable law by each of the selling Holders of Registrable Securities and any such
Underwriters in connection with the offering and sale of the Registrable Securities covered by and in the manner described in such Prospectus or any amendment or supplement thereto in accordance with applicable law; 

(iv)    use its commercially reasonable efforts to register or qualify the Registrable Securities under all
applicable state securities or blue sky laws of such jurisdictions as any Holder of Registrable Securities covered by a Registration Statement shall reasonably request in writing by the time the applicable Registration Statement is declared
effective by the SEC, to cooperate with such Holders in connection with any filings required to be made with FINRA and do any and all other acts and things which may be reasonably necessary or advisable to enable such Holder to consummate the
disposition in each such jurisdiction of such Registrable Securities owned by such Holder; provided, however, that the Company shall not be required to (i) qualify as a foreign corporation (or otherwise qualify to do business) or
as a dealer in securities in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(a)(iv), (ii) file any general consent to service of process or (iii) subject itself to taxation in any such
jurisdiction if it is not so subject; 
 (v)    in the case of a Shelf Registration, notify each Holder
of Registrable Securities, counsel for the Holders and counsel for the Initial Purchasers promptly and, if requested by any such Holder or counsel, confirm such notice in writing (A) when a Registration Statement has become effective and when
any post-effective amendment thereto has been filed and becomes effective, or when any Free Writing Prospectus has been filed or any amendment or supplement to the Prospectus or any Free Writing Prospectus has been filed, (B) of any request by
the SEC or any state securities authority for amendments and supplements to a Registration Statement, Prospectus or any 

  
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Free Writing Prospectus or for additional information after the Registration Statement has become effective, (C) of the issuance by the SEC or any state securities authority of any stop
order suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose, including any notice of objection of the SEC to the use of a Registration Statement or any post-effective amendment thereto
pursuant to Rule 401(g) under the 1933 Act, (D) if, between the effective date of a Registration Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the Company contained in any
underwriting agreement, securities sales agreement or other similar agreement, if any, relating to the offering cease to be true and correct in all material respects or if the Company receives any notification with respect to the suspension of the
qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, (E) of the happening of any event during the period a Shelf Registration Statement is effective which makes any
statement made in such Shelf Registration Statement or the related Prospectus or any Free Writing Prospectus untrue in any material respect or which requires the making of any changes in such Registration Statement or Prospectus or Free Writing
Prospectus in order to make the statements therein, in the light of the circumstances under which they were made, not misleading and (F) of any determination by the Company that a post-effective amendment to a Registration Statement or any
amendment or supplement to the Prospectus or any Free Writing Prospectus would be appropriate; 

(vi)    use its commercially reasonable efforts to obtain the withdrawal of any order suspending the
effectiveness of a Registration Statement or the resolution of any objection of the SEC pursuant to Rule 401(g) under the 1933 Act as promptly as practicable and provide immediate notice to each Holder of the withdrawal of any such order or such
resolution; 
 (vii)    in the case of a Shelf Registration, furnish to each Holder of Registrable
Securities, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto (without documents incorporated therein by reference or exhibits thereto, unless requested); provided, that the
Company shall be deemed to have furnished such Registration Statement and any post-effective amendment if it shall have timely made such Registration Statement or post-effective amendment available on “EDGAR”; 

(viii)    in the case of a Shelf Registration, cooperate with the selling Holders of Registrable Securities
to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends and enable such Registrable Securities to be in such denominations (consistent with the
provisions of the Indenture) and registered in such names as the selling Holders may reasonably request at least three business days prior to the closing of any sale of Registrable Securities; 

(ix)    upon the occurrence of any event contemplated by Section 3(a)(v)(E) hereof, use its
commercially reasonable efforts to prepare and file with the SEC a supplement or post-effective amendment to a Registration Statement, the related Prospectus, any Free Writing Prospectus or any document incorporated therein by

  
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reference or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities, such Prospectus or Free Writing Prospectus will not contain any
untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. The Company agrees to notify the Holders and any
Participating Broker-Dealers and to suspend use of the Prospectus or any Free Writing Prospectus, as applicable, as promptly as practicable after the occurrence of such an event, and the Holders hereby agree to suspend use of the Prospectus or Free
Writing Prospectus, as the case may be, until the Company has amended or supplemented the Prospectus or the Free Writing Prospectus to correct such misstatement or omission; 

(x)    at a reasonable time prior to the filing of any Registration Statement, any Prospectus, any Free
Writing Prospectus, any amendment to a Registration Statement or amendment or supplement to a Prospectus or Free Writing Prospectus or any document which is to be incorporated by reference into a Registration Statement, a Prospectus or a Free
Writing Prospectus after initial filing of a Registration Statement, provide copies of such document to the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the Holders and their counsel) and make such of the
representatives of the Company as shall be reasonably requested by the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Holders or their counsel) and consistent with past practice of the Company, available
for discussion of such document, and shall not at any time file or make any amendment to the Registration Statement, any Prospectus, any Free Writing Prospectus or any amendment of or supplement to a Registration Statement, a Prospectus, any Free
Writing Prospectus or any document which is to be incorporated by reference into a Registration Statement or a Prospectus or Free Writing Prospectus, of which the Initial Purchasers and their counsel (and, in the case of a Shelf Registration
Statement, the Holders and their counsel) shall not have previously been advised and furnished a copy or to which the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Holders or their counsel) shall
object, except for any amendment or supplement or document (a copy of which has been previously furnished to the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the Holders and their counsel)) which counsel
to the Company shall advise the Company in writing is required in order to comply with applicable law; 

(xi)    obtain a CUSIP number for all Exchange Securities of each series or Registrable Securities of each
series, as the case may be, not later than the effective date of a Registration Statement; 
 (xii)    if
applicable, cause the Indenture to be qualified under the Trust Indenture Act of 1939, as amended (the “TIA”), in connection with the registration of the Exchange Securities or Registrable Securities, as the case may be, cooperate
with the Trustee and the Holders to effect such changes to the Indenture as may be required for the Indenture to be so qualified in accordance with the terms of the TIA and execute, and use its commercially reasonable efforts to cause the Trustee to
execute, all documents as may be required to effect such changes and all other forms and documents required to be filed with the SEC to enable the Indenture to be so qualified in a timely manner; 

  
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 (xiii)    in the case of a Shelf Registration, make
available for inspection by a representative of the Holders of the Registrable Securities, any Underwriter participating in any disposition pursuant to such Shelf Registration Statement, and attorneys and accountants designated by the Majority
Holders, at reasonable times and in a reasonable manner, all financial and other records, pertinent documents and properties of the Company relevant thereto, and cause the officers, directors and employees of the Company to supply all information,
in each case, reasonably requested by any such representative, Underwriter, attorney or accountant in connection with a Shelf Registration Statement; 

(xiv)    in the case of a Shelf Registration, use its commercially reasonable efforts to cause all
Registrable Securities to be listed on any securities exchange or any automated quotation system on which the Securities are then listed if requested by the Majority Holders, to the extent such Registrable Securities satisfy applicable listing
requirements; 
 (xv)    use its commercially reasonable efforts to cause the Exchange Securities or
Registrable Securities, as the case may be, to be rated by two nationally recognized statistical rating organizations (as such term is defined in Section 3(a)(62) of the 1934 Act), to the extent such agencies rate the Securities; 

(xvi)    if reasonably requested by any Holder of Registrable Securities covered by a Shelf Registration
Statement, (i) promptly incorporate in a Prospectus supplement or post-effective amendment such information with respect to such Holder as such Holder reasonably requests to be included therein and (ii) make all required filings of such
Prospectus supplement or such post-effective amendment as soon as reasonably practicable after the Company has received notification of the matters to be incorporated in such filing; 

(xvii)    to the extent any Free Writing Prospectus is used, file with the SEC any Free Writing Prospectus
that is required to be filed by the Company with the SEC in accordance with the Securities Act and to retain (in accordance with the requirements of the Securities Act) any Free Writing Prospectus not required to be filed; and 

(xviii)    in the case of a Shelf Registration, enter into such customary agreements and take all such
other actions in connection therewith as may be reasonably requested or required (including those requested by the Holders of a majority of the Registrable Securities being sold) in order to expedite or facilitate the disposition of such Registrable
Securities including, but not limited to, an Underwritten Offering and in such connection, (i) to the extent possible, make such representations and warranties to the Holders and any Underwriters of such Registrable Securities with respect to
the business of the Company and its subsidiaries, the Registration Statement, Prospectus, Free Writing Prospectus and documents incorporated by reference or deemed incorporated by reference, if any, in each case, in form, substance and scope as are
customarily made by the Company and its predecessors in underwritten offerings and confirm the same if and when requested, (ii) obtain customary opinions and negative assurance statements of 

  
 12 

 
counsel to the Company (which counsel and opinions, in form, scope and substance, shall be reasonably satisfactory to the Holders and such Underwriters and their respective counsel) addressed to
each selling Holder and Underwriter of Registrable Securities, covering the matters customarily covered in opinions requested in underwritten offerings, (iii) obtain “comfort” letters from the independent certified public accountants
of the Company (and, if necessary, any other certified public accountant of any subsidiary of the Company, or of any business acquired or to be acquired by the Company for which financial statements and financial data are or are required to be
included in the Registration Statement) addressed to each selling Holder and Underwriter of Registrable Securities, such letters to be in customary form and covering matters of the type customarily covered in “comfort” letters in
connection with underwritten offerings, and (iv) deliver such documents and certificates as may be reasonably requested by the Holders of a majority in principal amount of the Registrable Securities being sold or the Underwriters, and which are
customarily delivered in underwritten offerings, to evidence the continued validity of the representations and warranties of the Company made pursuant to clause (i) above and to evidence compliance with any customary conditions contained in an
underwriting agreement. 
 (b)    In the case of a Shelf Registration Statement, the Company may require each Holder of
Registrable Securities to furnish to the Company such information regarding the Holder and the proposed distribution by such Holder of such Registrable Securities as the Company may from time to time reasonably request in writing. No Holder of
Registrable Securities may include its Registrable Securities in such Shelf Registration Statement unless and until such Holder furnishes such information to the Company. Each Holder including Registrable Securities in a Shelf Registration Statement
shall agree to furnish promptly to the Company all information regarding such Holder and the proposed distribution by such Holder of such Registrable Securities required to make the information previously furnished to the Company by such Holder not
materially misleading. 
 (c)    In the case of a Shelf Registration Statement, each Holder agrees that, upon receipt of
any notice from the Company of the happening of any event of the kind described in Section 3(a)(v)(E) hereof, such Holder will forthwith discontinue disposition of Registrable Securities pursuant to a Registration Statement until such
Holder’s receipt of the copies of the supplemented or amended Prospectus or Free Writing Prospectus contemplated by Section 3(a)(ix) hereof, and, if so directed by the Company, such Holder will deliver to the Company (at its expense) all
copies in its possession, other than permanent file copies then in such Holder’s possession, of the Prospectus and any Free Writing Prospectus covering such Registrable Securities current at the time of receipt of such notice. If the Company
shall give any notice in accordance with this Agreement to suspend the disposition of Registrable Securities pursuant to a Registration Statement, the Company shall extend the period during which the Registration Statement shall be maintained
effective pursuant to this Agreement by the number of days during the period from and including the date of the giving of such notice to and including the date when the Holders shall have received copies of the supplemented or amended Prospectus or
any Free Writing Prospectus necessary to resume such dispositions. The Company may give any such notice only upon reasonable determination that such suspension is appropriate in light of the event giving rise to such suspension and shall use
commercially reasonable efforts to file such amendments or supplements or take other steps necessary to resume dispositions as soon as reasonably practicable, in the Company’s determination. 

  
 13 

 (d)    The Holders of Registrable Securities covered by a Shelf
Registration Statement who desire to do so may sell such Registrable Securities in an Underwritten Offering. In any such Underwritten Offering, the investment banker or investment bankers and manager or managers (the “Underwriters”)
that will administer the offering will be selected by the Majority Holders of the Registrable Securities included in such offering and shall be reasonably acceptable to the Company. 

(e)    No Holder of Registrable Securities may participate in any Underwritten Offering hereunder unless such Holder
(i) agrees to sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires,
powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
  

	 	4.	 Participation of Broker-Dealers in Exchange Offer. 

(a)    The Staff has taken the position that any broker-dealer that receives Exchange Securities for its own account in the
Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result of market-making or other trading activities (a “Participating Broker-Dealer”), may be deemed to be an “underwriter” within the
meaning of the 1933 Act and must deliver a prospectus meeting the requirements of the 1933 Act in connection with any resale of such Exchange Securities. 

The Company understands that it is the Staff’s position that if the Prospectus contained in the Exchange Offer Registration Statement
includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Securities, without naming the Participating Broker-Dealers or specifying the amount of Exchange
Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers to satisfy their prospectus delivery obligation under the 1933 Act in connection with resales of Exchange Securities for their own accounts, so long as the
Prospectus otherwise meets the requirements of the 1933 Act. 
 (b)    In light of the above, and notwithstanding the
other provisions of this Agreement, the Company agrees to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement for a period of up to 180 days after the last Exchange Date (as such period may be extended pursuant
to Section 3(c)), if requested by one or more Participating Broker-Dealer, in order to expedite or facilitate the disposition of any Exchange Securities by Participating Broker-Dealers consistent with the positions of the Staff recited in
Section 4(a) above. The Company further agrees that Participating Broker-Dealers shall be authorized to deliver such Prospectus (or, to the extent permitted by law, make available) during such period in connection with the resales contemplated
by this Section 4. 
 (c)    The Initial Purchasers shall have no liability to the Company or any Holder with
respect to any request that they may make pursuant to Section 4(b) above. 

  
 14 

	 	5.	 Indemnification and Contribution. 

(a)    The Company agrees to indemnify and hold harmless each Initial Purchaser and Holder, the directors, officers and
affiliates of each Initial Purchaser and Holder and each Person who controls any Initial Purchaser or Holder within the meaning of either the 1933 Act or the 1934 Act against any and all losses, claims, damages or liabilities, joint or several, to
which they or any of them may become subject under the 1933 Act, the 1934 Act, the TIA or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement (or any amendment thereto) pursuant to which Exchange Securities or Registrable Securities were
registered under the 1933 Act, including all documents incorporated therein by reference, or that arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or
action; provided, however, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement
contained in any Prospectus or Free Writing Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or that arise out of, or are based on, any omission or alleged omission to state therein a
material fact necessary to make the statements therein in the light of the circumstances under which they were made not misleading, made therein in reliance upon and in conformity with written information furnished to the Company by or on behalf of
any Initial Purchaser through the Representatives or any selling Holder specifically for inclusion therein. In connection with any Underwritten Offering permitted by Section 3, the Company will also indemnify the Underwriters, if any, selling
brokers, dealers and similar securities industry professionals participating in the distribution, their officers and directors and each Person who controls such Persons (within the meaning of either Section 15 of the 1933 Act or Section 20
of the 1934 Act) to the same extent as provided above with respect to the indemnification of the Holders, if requested in connection with any Registration Statement. 

(b)    Each Holder severally and not jointly agrees to indemnify and hold harmless the Company and the Initial Purchasers
and their affiliates, the other selling Holders, each of their directors and each of their officers who signs the Registration Statement, and each Person who controls the Company, any Initial Purchaser or any selling Holder within the meaning of
either the 1933 Act or the 1934 Act, to the same extent as the foregoing indemnity to each Initial Purchaser and Holder contained in paragraph (a) above, but only with reference to written information relating to such Holder furnished to the
Company by or on behalf of such Holder specifically for inclusion in the documents referred to in the foregoing indemnity. This indemnity agreement will be in addition to any liability which any Holder may otherwise have. 

(c)    Promptly after receipt by an indemnified party under this Section 5 of notice of the commencement of any
action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 5, notify the indemnifying party in writing of the commencement thereof; but the failure so to notify the
indemnifying party (i) will not relieve it from liability under paragraph (a) or (b) above unless 

  
 15 

 
and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) will not, in any
event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. The indemnifying party shall be entitled to participate in any such action and
appoint counsel of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought (in which case the indemnifying party shall not thereafter be
responsible for the fees and expenses of any separate counsel retained by the indemnified party or parties except as set forth below); provided, however, that such counsel shall be satisfactory to the indemnified party. Notwithstanding the
indemnifying party’s election to appoint counsel to represent the indemnified party in an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the
reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest, (ii) the actual or potential
defendants in, or targets of, any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties
which are different from or additional to those available to the indemnifying party (it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel (other than local counsel), for
each of the Initial Purchasers, the Company and its directors and officers who sign the Registration Statement and all Holders, and that all such fees and expenses shall be reimbursed as they are incurred (in such case involving the Holders and such
Persons who control Holders, such firm shall be designated in writing by the Majority Holders)), (iii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a
reasonable time after notice of the institution of such action or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. An indemnifying party will not, without the
prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be
sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent includes (i) an unconditional release of each indemnified party from all liability
arising out of such claim, action, suit or proceeding and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party. 

(d)    In the event that the indemnity provided in paragraph(a) or (b) of this Section 5 is unavailable to or
insufficient to hold harmless an indemnified party for any reason, the Company and the Holders severally agree to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in
connection with investigating or defending the same) (collectively “Losses”) to which the Company and one or more of the Holders may be subject in such proportion as is appropriate to reflect the relative benefits received by the
Company from the offering of the Securities and the Exchange Securities, on the one hand, and by the Holders from receiving Securities or Exchange Securities registered under the 1933 Act on the other hand. If the allocation provided by the
immediately preceding sentence is unavailable for any reason, the Company and the Holders severally shall contribute in such proportion as is appropriate to reflect not only such relative benefits but also

  
 16 

 
the relative fault of the Company on the one hand and of the Holders on the other in connection with the statements or omissions which resulted in such Losses as well as any other relevant
equitable considerations. Relative fault shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to
information provided by the Company on the one hand, or the Holders, on the other, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The
Holders’ respective obligations to contribute pursuant to this Section 5(d) are several in proportion to the respective principal amount of Registrable Securities of such Holder that were registered pursuant to a Registration Statement.
The Company and each Holder agree that it would not be just and equitable if contribution were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of allocation which does not take
account of the equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 5, each person who controls a Holder within the meaning of either the 1933 Act or the 1934 Act and each director, officer,
employee and agent of a Holder shall have the same rights to contribution as such Holder, and each Person who controls the Company within the meaning of either the 1933 Act or the 1934 Act, each officer of the Company who shall have signed the
Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case to the applicable terms and conditions of this paragraph (d). 

The indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and effect regardless of
(i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Initial Purchasers or any of their affiliates, any Holder or any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the
Company or its officers or directors or any Person controlling the Company, (iii) acceptance of any of the Exchange Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration Statement. 

 

	 	6.	 Miscellaneous. 

(a)    No Inconsistent Agreements. The Company represents and agrees that (i) it has not entered into, and on
or after the date of this Agreement will not enter into, any agreement which is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof; and (ii) the
rights granted to the Holders hereunder do not in any way materially conflict with and are not inconsistent with the rights granted to the holders of the Company’s other issued and outstanding securities under any such agreements. 

(b)    Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not
be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company has obtained the written consent of Holders of at least a majority in aggregate principal amount of the
outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or consent; provided, however, that no amendment, modification, supplement, waiver or 

  
 17 

 
consent to any departure from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder; provided
further, however, that the foregoing consent requirement shall not apply for such changes that the Company determines to make, which are for the benefit of the Holders, do not have any impact on the Holders or are otherwise of a
ministerial nature. 
 (c)    Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, registered first-class mail with return receipt requested, telex, fax, electronic mail or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given by such
Holder to the Company by means of a notice given in accordance with the provisions of this Section 6(c), which address initially is, with respect to the Initial Purchasers, the address set forth in the Purchase Agreement; and (ii) if to
the Company, initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c). 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; on the
date the return receipt is executed, if mailed; when answered back, if telexed; when receipt is acknowledged or proof of receipt is obtained, if faxed or emailed; and on the next business day if timely delivered to an air courier guaranteeing
overnight delivery. 
 Copies of all such notices, demands, or other communications shall be concurrently delivered by the Person giving the
same to the Trustee, at the address specified in the Indenture. 
 (d)    Successors and Assigns. This Agreement
shall inure to the benefit of, and be binding upon, the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that nothing herein shall
be deemed to permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement. If any transferee of any Holder shall acquire Registrable Securities, in any manner, whether by
operation of law or otherwise, such Registrable Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and
to perform all of the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company with
respect to any failure by a Holder to comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement. 

(e)    Purchases and Sales of Securities. The Company shall not, and shall use its commercially reasonable efforts
to cause its affiliates (as defined in Rule 405 under the 1933 Act) not to, purchase and then resell or otherwise transfer any Securities. 

(f)    Third Party Beneficiary. The Holders shall be third party beneficiaries to the agreements made hereunder
between the Company, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the rights of
Holders hereunder. 

  
 18 

 (g)    Counterparts. This Agreement may be executed in any number
of counterparts and by the 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. 

(h)    Headings. The headings in this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof. 
 (i)    Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York. Each of the parties hereto hereby waives any right to trial by jury in any suit or proceeding arising out of or relating to this Agreement. 

(j)    Severability. In the event that any one or more of the provisions contained herein, or the application
thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or impaired
thereby. 

  
 19 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	Very truly yours,
	
	THE DOW CHEMICAL COMPANY

 
			
		
	By:	 	 /s/ Gary McGuire

	Name:	 	Gary McGuire
	Title:	 	Vice President and Treasurer

 [Signature Page to Registration Rights Agreement] 

			
	CONFIRMED AND ACCEPTED AS OF THE DATE HEREOF
	
	CITIGROUP GLOBAL MARKETS INC.
	 MERRILL LYNCH, PIERCE, FENNER & SMITH

                          
    INCORPORATED

	MIZUHO SECURITIES USA LLC
	MORGAN STANLEY & CO. LLC
	SMBC NIKKO SECURITIES AMERICA, INC.
	
	 ACTING ON BEHALF OF ITSELF AND THE
OTHER SEVERAL INITIAL PURCHASERS NAMED IN
SCHEDULE I HERETO.

			
	
	By:    CITIGROUP GLOBAL MARKETS INC.

			
		
	By:	 	 /s/ Adam D. Bordner

	Name:	 	Adam D. Bordner
	Title:	 	Director

			
	
	By:    MERRILL LYNCH, PIERCE, FENNER & SMITH
                                        
INCORPORATED

			
		
	By:	 	 /s/ Happy Hazelton

	Name:	 	Happy Hazelton
	Title:	 	Managing Director

			
	
	By:    MIZUHO SECURITIES USA LLC

			
		
	By:	 	 /s/ J M Shepard

	Name:	 	J M Shepard
	Title:	 	M.D.

			
	
	By:    MORGAN STANLEY & CO. LLC

			
		
	By:	 	 /s/ Yurij Slyz

	Name:	 	Yurij Slyz
	Title:	 	Executive Director

 [Signature Page to Registration Rights Agreement] 

			
	By:    SMBC NIKKO SECURITIES AMERICA, INC.

			
		
	By:	 	 /s/ Yoshihiro Satake

	Name:	 	Yoshihiro Satake
	Title:	 	Managing Director

 [Signature Page to Registration Rights Agreement] 

 SCHEDULE I 

INITIAL PURCHASERS 
 Citigroup Global Markets Inc.

 Merrill Lynch, Pierce, Fenner & Smith 

	                     Incorporated	 

Mizuho Securities USA LLC 
 Morgan Stanley & Co. LLC

 SMBC Nikko Securities America, Inc. 
 BNP Paribas
Securities Corp. 
 Deutsche Bank Securities Inc. 
 HSBC
Securities (USA) Inc. 
 ING Financial Markets LLC 
 SG
Americas Securities, LLC 
 Barclays Capital Inc. 
 Credit
Agricole Securities (USA) Inc. 
 MUFG Securities Americas Inc. 

Santander Investment Securities Inc. 
 Wells Fargo Securities,
LLC 
 BBVA Securities Inc. 
 RBC Capital Markets, LLC 

Scotia Capital (USA) Inc. 
 Standard Chartered Bank 

Academy Securities, Inc. 
 The Williams Capital Group, L.P.Exhibit 10.1

 

English Summary of the First Amendment (“First Amendment”), dated and finalized November 27, 2018, to the Line of Credit Agreement (“Original Line of Credit”), dated and finalized November 30, 2017, between Banco Nacional de Comercio Exterior, S.N.C. a Mexican federal development banking institution (“Bancomext”) and Compañia Minera Pangea S.A. de C.V. (“CMP”).

 

Parties to the First Amendment: Bancomext and CMP.

 

Subject Matter of the First Amendment: Bancomext and CMP agreed to modified the following provisions of the Line of Credit:

 

Advances: The Line of Credit will be available for withdrawals for one (1) year beginning from December 1st, 2018.

 

Affirmative and Negative Covenants: The following environmental covenants were added:

 

·                  CMP must deliver to Bancomext, on an annual basis, a letter confirming its legal status and an update of any environmental and social fines and penalties it has received.

 

·                  CMP must submit to Bancomext, on an annual basis, a perimeter noise study.

 

·                  CMP must deliver to Bancomext, on annual basis, a copy of the acknowledgment of the determination of the risk rate related to work insurance presented before the Mexican Social Insurance Institute (Instituto Mexicano del Seguro Social). The due date for this delivery is within the first fifteen (15) working days of March of each year.

 

·                  CMP must deliver to Bancomext, on annual basis, a copy of the acknowledgment of receipt of the Annual Operation License (Cedula de Operacion Anual), presented before the Environmental and Natural Resources Secretary (Secretaria de Medio Ambiente y Recursos Naturales or “SEMARNAT”). The due date for this delivery is within the first fifteen (15) working days of July of each year.

 

·                  CMP must submit to Bancomext, on annual basis, a copy of its registration, before SEMARNAT, as a generator of special residues and hazardous material.

 

·                  If CMP exceeds 25,000 tons of CO2 equivalent emissions, CMP must solicit a verification executed by an entity accredited by the Report of Corporate Inventory of Compound Emissions and Greenhouse Gases (Reporte de Inventario Corporativo de Emisiones de Compuestos y Gases de Efecto Invernadero). Such verification must then be filed with SEMARNAT. CMP must deliver to Bancomext an acknowledgment of receipt from SEMARNAT.

 

·                  CMP must submit to Bancomext, on annual basis, a copy of its valid Unique Environmental License.

 

·                  CMP must submit to Bancomext, on an annual basis, a copy of the acknowledgment of receipt of its compliance reports related to compliance with resolutions SGPARN/247/01-

 

 

631, SG/145/2.1.1/0378/17, and SG/145/2.1/0428/16, which regulate the environmental impact authorization, and the change of use of forest lands.

 

·                  CMP must deliver to Bancomext, on an annual basis, a memo describing any progress in the implementation of programs and social benefits intended to improve the living conditions of the population living within the communities around the mine site.

 

Except for the foregoing amendments, all other provisions of the Original Line of Credit remain in full force and effect.

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