Document:

Exhibit 4.2

 

Euro Floating Rate Medium-Term Note
 (Face of Security)

 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK, S.A./N.V., AS OPERATOR OF THE EUROCLEAR SYSTEM (“EUROCLEAR”) AND CLEARSTREAM BANKING, SOCIÉTÉ ANONYME (“CLEARSTREAM” AND, TOGETHER WITH EUROCLEAR, “EUROCLEAR/CLEARSTREAM”), TO 3M COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE BANK OF NEW YORK MELLON, LONDON BRANCH, AS COMMON DEPOSITARY (THE “COMMON DEPOSITARY”) FOR EUROCLEAR/CLEARSTREAM (AND ANY PAYMENT IS MADE TO THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE COMMON DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, HAS AN INTEREST HEREIN.

 

THIS SECURITY IS A GLOBAL SECURITY AND IS REGISTERED IN THE NAME OF THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, AS NOMINEE OF THE COMMON DEPOSITARY.  UNLESS AND UNTIL THIS SECURITY IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE, CERTIFICATED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE COMMON DEPOSITARY TO A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO THE COMMON DEPOSITARY OR ANOTHER NOMINEE OF THE COMMON DEPOSITARY OR BY THE COMMON DEPOSITARY OR A NOMINEE OF THE COMMON DEPOSITARY TO A SUCCESSOR COMMON DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR COMMON DEPOSITARY.

 

 

	
R-1
    
	
CUSIP   NO.: 88579Y AJ0
    
	
ISIN   NO.: XS1136406268
    
	
COMMON CODE: 113640626
    

 

3M COMPANY
 MEDIUM-TERM NOTES, SERIES F
 (Floating Rate)

 

The following terms apply to this Security, as and to the extent shown below:

 

	
PRINCIPAL   AMOUNT: €500,000,000
    	
 
    	
REPAYMENT   DATE(S): N/A
    
	
 
    	
 
    	
 
    
	
STATED   MATURITY DATE: November 9, 2018
    	
 
    	
REDEMPTION   OR REPAYMENT PRICE(S): N/A
    
	
 
    	
 
    	
 
    
	
SPECIFIED   CURRENCY: Euro 

for   all payments unless otherwise 

specified   below:
    	
 
    	
BASE   RATE: EURIBOR

 
    
	
 
    	
 
    	
 
    
	
o     payments   of principal and any premium:
    	
 
    	
INDEX   MATURITY: 3 months
    
	
o     payments   of interest:
    	
 
    	
 

INTEREST   PAYMENT DATES: February 9, May 9, August 9 and   November 9 of each year, beginning February 9, 2015
    
	
 
    	
 
    	
 
    
	
REDEMPTION   COMMENCEMENT 

DATE: N/A
    	
 
    	
PAYING AND CALCULATION AGENT: The Bank of   New York Mellon, London Branch
    
	
 
    	
 
    	
 
    
	
ORIGINAL   ISSUE DATE: November 12, 2014
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
SPREAD: Plus 0.23%

 

SPREAD   MULTIPLIER: N/A
    	
 
    	
DEFEASANCE:

o    Full   Defeasance: N/A

 

o    Covenant   Defeasance: N/A
    
	
 
    	
 
    	
 
    
	
INITIAL   BASE RATE: 3-month EURIBOR in effect on November 10,   2014

 

INTEREST   RESET PERIOD:

Quarterly
    	
 
    	
MAXIMUM   RATE: N/A

 

INITIAL INTEREST RATE: Initial Base   Rate plus 0.23% (to be determined by the Paying and Calculation Agent on the   second banking day prior to the Settlement Date)
    

 

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INTEREST   RESET DATE(S): February 9, May 9, August 9 and   November 9 of each year, beginning February 9, 2015
    	
 
    	
MINIMUM   RATE: N/A
    
	
 
    	
 
    	
 
    
	
INTEREST DETERMINATION DATE(S):
   as provided in Section 3(b) on the reverse of this Security
   (unless otherwise specified)
    	
 
    	
OTHER TERMS: Redemption   for Tax Reasons. See Addendum attached hereto.
    

 

Terms left blank or marked “N/A”, “No”, “None” or in a similar manner do not apply to this Security except as otherwise may be specified.

 

Whenever used in this Security, the terms specified above that apply to this Security have the meanings specified above, unless the context requires otherwise.  Other terms used in this Security that are not defined herein but that are defined in the Indenture referred to in Section 1 on the reverse of this Security are used herein as defined therein.

 

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3M Company, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the “Company”, which term includes any successor Person under the Indenture), for value received, hereby promises to pay to The Bank of New York Depository (Nominees) Limited as the nominee of The Bank of New York Mellon London Branch, a common depositary for Euroclear Bank S.A./N.V., as operator of the Euroclear system, and Clearstream Banking, société anonyme, or registered assigns, as principal the Principal Amount on the Stated Maturity Date and to pay interest thereon, from the Original Issue Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for, on the Interest Payment Date(s) set forth above and at the Maturity of the principal hereof, at a rate per annum determined in accordance with the applicable provisions of Section 3 on the reverse hereof, until the principal hereof is paid or made available for payment.  Interest will be computed on the basis of a 360-day year and the actual number of days in the period for which interest is being calculated.  Unless this Security is a Security which has been issued upon transfer of, in exchange for, or in replacement of, a Predecessor Security, interest on this Security shall accrue from the Original Issue Date indicated above.  If this Security has been issued upon transfer of, in exchange for, or in replacement of, a Predecessor Security, interest on this Security shall accrue from the last Interest Payment Date to which interest was paid on such Predecessor Security or, if no interest was paid on such Predecessor Security, from the Original Issue Date indicated above.  Any premium and any such installment of interest that is overdue at any time shall also bear interest (to the extent that the payment of such interest shall be legally enforceable), at the rate per annum at which the principal then bears interest, from the date any such overdue amount first becomes due until it is paid or made available for payment.  Notwithstanding the foregoing, interest on any principal, premium or installment of interest that is overdue shall be payable on demand.

 

The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the 15th calendar day (whether or not a Business Day, as such term is defined in Section 3(f) on the reverse hereof) next preceding such Interest Payment Date (a “Regular Record Date”).  If interest is due at Maturity but on a day that is not an Interest Payment Date, interest will be paid to the Person entitled to receive the principal hereof.  Any interest so payable, but not punctually paid or duly provided for, on any Interest Payment Date will forthwith cease to be payable to the Holder on such Regular Record Date and such Defaulted Interest either may be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to the Holder of this Security not less than 10 days prior to such Special Record Date, or may be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which this Security may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.

 

The principal of this Security payable at the Maturity or earlier date of redemption shall be paid against presentation and surrender of this Security at the office or agency of the Company maintained for that purpose in London.  The Company hereby initially designates the Corporate Trust Office of the Paying and Calculation Agent as the office to be maintained by it where Security may be presented for payment, registration of transfer or exchange, and where

 

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notices to or demands upon the Company in respect of the Securities or the Indenture referred to on the reverse hereof may be served.

 

Currency of Payment

 

Payment of principal of (and premium, if any) and interest on this Security will be made in the Specified Currency for such payment, except as provided in this and the next paragraph.  The Specified Currency for any payment shall be the currency specified as such on the face of this Security unless, at the time of such payment, such currency is not legal tender for the payment of public and private debts in the country issuing such currency on the Original Issue Date, in which case the Specified Currency for such payment shall be such coin or currency as at the time of such payment is legal tender for the payment of public and private debts in such country, except as provided in the next sentence.

 

If euro is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the Company’s control or the euro is no longer used by the member states of the European Economic and Monetary Union that have adopted the euro as their currency for the settlement of transactions by public institutions within the international banking community, then all payments in respect of the Securities will be made in U.S. dollars until euro is again available to the Company or so used.  The amount payable on any date in euro will be converted to U.S. dollars on the basis of the Market Exchange Rate (as defined on the reverse hereof) on the second Business Day before that payment is due, or if such Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate on or before the date that payment is due.  Any payment in respect of the Securities so made in U.S. dollars will not constitute an event of default under the Indenture.  Neither the Trustee nor the Paying and Calculation Agent shall be responsible for obtaining exchange rates, effecting conversions or otherwise handling redenominations.

 

Payments Due on a Business Day

 

Unless otherwise specified on the face of this Security, the following sentence shall apply to this Security.  Notwithstanding any provision of this Security or the Indenture, if any amount of principal, premium or interest would otherwise be due on this Security at Maturity on a day (the “Specified Day”) that is not a Business Day, such amount may be paid or made available for payment on the next succeeding Business Day with the same force and effect as if such amount were paid on the Specified Day.  The provisions of this paragraph shall apply to this Security in lieu of the provisions of Section 113 of the Indenture.

 

Unless otherwise specified on the face of this Security, the following sentence shall apply to each Interest Payment Date other than one that falls on the date of Maturity of the principal hereof.  If any such Interest Payment Date would otherwise be a day that is not a Business Day, such Interest Payment Date shall be deferred to the next succeeding Business Day, provided that, if the next succeeding Business Day would fall in the next calendar month, then such Interest Payment Date will be advanced to the next preceding Business Day.

 

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Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

 

Unless the certificate of authentication hereon has been executed by the Trustee by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

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

 

	
 
    	
3M   COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By
    	
 
    
	
 
    	
 
    	
Name:
    	
Nicholas   C. Gangestad
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President and
    
	
 
    	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
 
    
	
 
    	
 
    	
Name:
    	
Scott   D. Krohn
    
	
 
    	
 
    	
Title:
    	
Vice   President and Treasurer
    

 

 

This is one of the Securities of the series designated herein and referred to in the Indenture.

 

Dated: November 12, 2014

 

	
 
    	
The   Bank of New York Mellon Trust Company, N.A., as Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By
    	
 
    
	
 
    	
Authorized   Signatory
    

 

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(Reverse of Security)

 

1.             Securities and Indenture

 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”) issued and to be issued in one or more series under an Indenture, dated as of November 17, 2000 as amended or supplemented from time to time (herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered.

 

2.             Series and Denominations

 

This Security is one of the series designated on the face hereof, limited to an aggregate principal amount not to exceed $9,000,000,000 (or the equivalent thereof in any other currency or currencies or currency units), which amount may be increased at the option of the Company if in the future it determines that it may wish to sell additional Securities of this series.  References herein to “this series” mean the series of securities designated on the face hereof.

 

The Company may create and issue additional Securities with the same terms as this Security, so that the additional Securities will be considered as part of the same issuance as the earlier issuance.

 

The Securities of this series are issuable only in registered form without coupons in “Authorized Denominations”, which term shall have the following meaning.  Unless otherwise specified, for each Security of this series having a principal amount payable in euro, the Authorized Denominations shall be €100,000 and integral multiples of €1,000 in excess thereof.

 

3.             Interest Rate

 

(a)           Interest Rate Reset.  The interest rate on this Security will be reset from time to time, as provided in this Section 3, and each date upon which such rate is reset as so provided is hereinafter called an “Interest Reset Date”.  The Interest Reset Dates with respect to this Security will be February 9, May 9, August 9 and November 9 of each year, beginning February 9, 2015, provided, however, that the Base Rate in effect from the Original Issue Date to but excluding the first Interest Reset Date will be the Initial Base Rate; and provided, further, that, if any Interest Reset Date would otherwise be a day that is not a Business Day, such Interest Reset Date shall be the next succeeding day that is a Business Day, except that, unless otherwise specified on the face hereof, if such next succeeding Business Day falls in the next succeeding calendar month, such Interest Reset Date shall be the immediately preceding Business Day.

 

Subject to applicable provisions of law and except as otherwise specified herein, on each Interest Reset Date the interest rate on this Security shall be the rate determined in accordance with such of the following Section 3(b) as provide for determination of the Base Rate

 

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for this Security.  The Paying and Calculation Agent shall determine the interest rate of this Security in accordance with Section 3(d) below.

 

Upon request of the Holder to the Paying and Calculation Agent, the Paying and Calculation Agent will provide the interest rate then in effect on this Security and, if determined, the interest rate that will become effective on the next Interest Reset Date.

 

(b)           Determination of EURIBOR.  The Base Rate that takes effect on any Interest Reset Date shall equal the interest rate for deposits in euros designated as “EURIBOR” and sponsored jointly by the European Banking Federation and ACI — the Financial Market Association (or any company established by the joint sponsors for purposes of compiling and publishing that rate) on the second TARGET Business Day (as defined in Section 3(f) below) before such Interest Reset Date (a “EURIBOR Interest Determination Date”), and will be determined in accordance with the following provisions:

 

(i)            EURIBOR will be the offered rate for deposits in euros having the Index Maturity beginning on such Interest Reset Date, as that rate appears on Reuters Page EURIBOR01 as of 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date.

 

(ii)           If the rate described in clause (i) above does not appear on Reuters Page EURIBOR01, EURIBOR will be determined on the basis of the rates, at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date, at which deposits of the following kind are offered to prime banks in the Euro-Zone (as defined in Section 3(f) below) interbank market by the principal Euro-Zone office of each of four major banks in that market selected by the Company:  euro deposits having the Index Maturity beginning on such Interest Reset Date and in a Representative Amount.  The Paying and Calculation Agent will request the principal Euro-Zone office of each of these banks, using contact information provided by the Company, to provide a quotation in writing of its rate.  If at least two quotations are provided in writing, EURIBOR for such EURIBOR Interest Determination Date will be the arithmetic mean of such quotations.

 

(iii)          If fewer than two quotations are provided as described in clause (ii) above, EURIBOR for such EURIBOR Interest Determination Date will be the arithmetic mean of the rates for loans of the following kind to leading Euro-Zone banks quoted in writing, at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date, by three major banks in the Euro-Zone selected by the Company:  loans of euros having the Index Maturity beginning on such Interest Reset Date and in a Representative Amount.

 

(iv)          If fewer than three banks selected by the Company are quoting as described in clause (iii) above, EURIBOR shall be the EURIBOR in effect on such EURIBOR Interest Determination Date (or, in the case of the first Interest Reset Date, the Initial Base Rate).

 

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The Base Rate determined in accordance with this Section 3(b) will be adjusted by the addition or subtraction of the Spread, if any, or by multiplying such Base Rate by the Spread Multiplier, if any.

 

(c)           Minimum and Maximum Limits.  Notwithstanding the foregoing, the rate at which interest accrues on this Security (i) shall not at any time be higher than the Maximum Rate, if any, or less than the Minimum Rate, if any, specified on the face hereof, in each case on an accrual basis, and (ii) shall not at any time be higher than the maximum rate permitted by New York law, as the same may be modified by United States law of general application.

 

(d)           Calculation of Interest.  Payments of interest hereon with respect to any Interest Payment Date or at the Maturity of the principal hereof will include interest accrued to but excluding such Interest Payment Date or the date of such Maturity, as the case may be.  Interest will be computed on the basis of a 360-day year and the actual number of days in the period for which interest is being calculated.

 

All percentages resulting from any calculation with respect to this Security will be rounded upward or downward, as appropriate, to the next higher or lower one hundred-thousandth of a percentage point (e.g., 9.876541% (or .09876541) being rounded down to 9.87654% (or .0987654) and 9.876545% (or .09876545) being rounded up to 9.87655% (or .0987655) ).  All amounts used in or resulting from any calculation with respect to this Security will be rounded upward or downward, as appropriate, to the nearest cent, in the case of U.S. dollars, or to the nearest corresponding hundredth of a unit, in the case of a currency other than U.S. dollars, with one-half cent or one-half of a corresponding hundredth of a unit or more being rounded upward.

 

(e)           Paying and Calculation Agent.  The Company has initially appointed the institution named on the face of this Security as Paying and Calculation Agent to act as such agent with respect to this Security, but the Company may, in its sole discretion, appoint any other institution (including any Affiliate of the Company) to serve as any such agent from time to time.  The Company will give the Trustee prompt written notice of any change in any such appointment.  Insofar as this Security provides for any such agent to obtain rates, quotes or other data from a bank, dealer or other institution for use in making any determination hereunder, such agent may do so from any institution or institutions of the kind contemplated hereby notwithstanding that any one or more of such institutions are any such agent, Affiliates of any such agent or Affiliates of the Company.

 

All determinations made by the Paying and Calculation Agent may be made by such agent in its sole discretion and, absent manifest error, shall be conclusive for all purposes and binding on the Holder of this Security and the Company.  The Paying and Calculation Agent shall not have any liability therefor.

 

(f)            Definitions of Terms.  As used in this Security, the following terms have the meanings set forth below:

 

“Additional Interest” has the meaning set forth in Section 5 hereof.

 

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“Business Day” means, for this Security, any day other than a Saturday or Sunday, (1) which is not a day on which banking institutions in The City of New York or London are authorized or required by law, regulation or executive order to close and (2) on which the Trans-European Automated Real Time Gross Settlement Express Transfer system (the TARGET2 system), or any successor thereto, is open.

 

The “Calculation Date” corresponding to any EURIBOR Interest Determination Date means the earlier of:

 

(i)            the tenth calendar day after such interest determination date or, if any such day is not a Business Day, the next succeeding Business Day; and

 

(ii)           the Business Day immediately preceding the Interest Payment Date or the date of Maturity of the principal hereof, whichever is the day on which the next payment of interest will be due.

 

The Calculation Date corresponding to any Interest Reset Date means the Calculation Date corresponding to the relevant interest determination date immediately preceding such Interest Reset Date.

 

“Clearsteam” means Clearstream Banking, société anonyme.

 

“Common Depositary” means any Person acting as the common depositary for Euroclear and Clearstream, which initially shall be The Bank of New York Mellon, London Branch.

 

“EMU Countries” means, at any time, the countries (if any) then participating in the European Economic and Monetary Union (or any successor union) pursuant to the Treaty on European Union of February 1992 (or any successor treaty), as it may be amended from time to time.

 

“Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear system.

 

“Euro-Zone” means, at any time, the region comprised of the EMU Countries.

 

“Market Exchange Rate” means the noon buying rate in The City of New York for cable transfers of euro as certified for customs purposes (or, if not so certified, as otherwise determined) by the Federal Reserve Bank of New York.

 

“Representative Amount” means an amount that, in the Paying and Calculation Agent’s judgment, is representative of a single transaction in the relevant market at the relevant time.

 

“TARGET Business Day” means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System, or any successor system, is open for business.

 

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“United States Alien” means any person who, for United States Federal income tax purposes, is a foreign corporation, a non-resident alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for United States Federal income tax purposes, a foreign corporation, a nonresident alien individual or a non-resident alien fiduciary of a foreign estate or trust.

 

References in this Security to U.S. dollars shall mean, as of any time, the coin or currency that is then legal tender for the payment of public and private debts in the United States of America.

 

References in this Security to the euro shall mean, as of any time, the coin or currency (if any) that is then legal tender for the payment of public and private debts in all EMU Countries.

 

References in this Security to a particular currency other than U.S. dollars and euros shall mean, as of any time, the coin or currency that is then legal tender for the payment of public and private debts in the country issuing such currency on the Original Issue Date.

 

4.             Redemption at the Company’s Option

 

Unless otherwise specified on the face hereof or as otherwise specified in this Security (including in the Addendum attached hereto), this Security shall not be redeemable at the option of the Company before the Stated Maturity Date.  If so specified, and unless otherwise specified on the face hereof, this Security is subject to redemption upon not less than 30 days’ nor more than 60 days’ notice at any time and from time to time, in each case as a whole or in part, at the election of the Company and at the applicable Redemption Price specified in the Addendum attached hereto, together with accrued interest to the Redemption Date, but interest installments due on or prior to such Redemption Date will be payable to the Holder of this Security, or one or more Predecessor Securities, of record at the close of business on the relevant Regular Record Date, all as provided in the Indenture.

 

5.             Payment of Additional Interest

 

The Company will, subject to the exceptions and limitations set forth below, pay as additional interest to a Holder of this Security that is a United States Alien such amounts as may be necessary so that every net payment on such note after deduction or withholding for or on account of any present or future tax, assessment or other governmental charge of whatever nature imposed upon or as a result of such payment by the United States (or any political subdivision or taxing authority thereof or therein), will not be less than the amount provided for in such note to be then due and payable. However, the Company will not be required to make any payment of additional interest for or on account of:

 

(a)         any tax, assessment or other governmental charge that would not have been imposed but for (i) the existence of any present or former connection between such holder (or between a fiduciary, settlor or beneficiary of, or a person holding a power over, such holder, if such holder is an estate or a trust, or a member or shareholder of such holder, if such holder is a partnership or corporation) and the United States, including, without

 

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limitation, such holder (or such fiduciary, settlor, beneficiary, person holding a power, member or shareholder) being or having been a citizen or resident or treated as a resident thereof or being or having been engaged in trade or business or present therein or having or having had a permanent establishment therein, or (ii) the presentation by the holder of a note for payment more than 15 days after the date on which such payment became due and payable or on which payment thereof was duly provided for, whichever occurs later;

 

(b)         any estate, inheritance, gift, sales, transfer, personal property or any similar tax, assessment or other governmental charge;

 

(c)          any tax, assessment or other governmental charge that would not have been imposed but for such holder’s past or present status as a controlled foreign corporation, passive foreign investment company (including a qualified election fund) or foreign private foundation or other tax exempt organization with respect to the United States or as a corporation that accumulates earnings to avoid United States Federal income tax;

 

(d)         any tax, assessment or other governmental charge that is payable otherwise than by deduction or withholding from a payment on a note;

 

(e)          any tax, assessment or other governmental charge required to be deducted or withheld by any paying agent from any payment on a note, if such payment can be made without such deduction or withholding by any other paying agent;

 

(f)           any tax, assessment or other governmental charge that would not have been imposed but for the holder’s failure to comply with any applicable certification, information, documentation or other reporting requirement concerning the nationality, residence, identity or connection with the United States of the holder or beneficial owner of a note if, without regard to any tax treaty, such compliance is required by statute or regulation of the United States as a precondition to relief or exemption from such tax, assessment or other governmental charge;

 

(g)          any tax, assessment or other governmental charge imposed by reason of the holder (i) owning or having owned, directly or indirectly, actually or constructively, 10% or more of the total combined voting power of all classes of stock of the Company entitled to vote, (ii) receiving interest described in Section 881(c)(3)(A) of the United States Internal Revenue Code or (iii) being a controlled foreign corporation with respect to the United States that is related to the Company by actual or constructive stock ownership;

 

(h)         any tax, assessment or other governmental charge that is imposed on a payment pursuant to Sections 1471 through 1474 of the United States Internal Revenue Code (FATCA), any Treasury regulations and official interpretations thereof, and any regulations or official law, agreement or interpretations thereof implementing an intergovernmental approach thereto; or

 

(i)             any combination of items (a), (b), (c), (d), (e), (f) (g) and (h);

 

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nor shall such additional interest be paid with respect to any payment on a Security to a Holder that is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner would not have been entitled to the additional interest had such beneficiary, settlor, member or beneficial owner been the Holder of such Security.

 

For purposes of the foregoing, the holding of or the receipt of any payment with respect to a Security shall not constitute a connection between the Holder (or between a fiduciary, settlor, beneficiary, member or shareholder of, or a person having power over, such Holder if such Holder is an estate, a trust, a partnership or a corporation) and the United States.

 

6.             Transfer and Exchange

 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company at the office of the Paying and Calculation Agent in London, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor and terms, of Authorized Denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 

As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different Authorized Denomination, as requested by the Holder surrendering the same.

 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company nor the Trustee nor any such agent shall be affected by notice to the contrary.

 

Any Holder of a Global Security shall, by acceptance of such Global Security, agree that transfers of beneficial interests in such Global Security may be effected only through a book-entry system maintained by such Holder (or its agent), and that ownership of a beneficial interest in the Securities represented thereby shall be required to be reflected in book-entry form.  Transfers of a Global Securities shall be limited to transfers in whole and not in part, to the Common Depositary, its successors and their respective nominees.  Interests of beneficial owners in a Global Security shall be transferred in accordance with the rules and procedures of Euroclear and Clearstream (or their respective successors).

 

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Subject to certain conditions, the Securities represented by the Global Securities are exchangeable for certificated Securities in definitive form of like tenor in minimum denominations of €100,000 principal amount and multiples of €1,000 in excess thereof if:

 

(1) the Common Depositary is at any time unwilling or unable to continue as the Common Depositary, or Clearstream Banking, société anonyme or Euroclear Bank SA/NV ceases to be a clearing agency registered under applicable law, and a successor Common Depositary is not appointed by the Company or a successor clearing agency satisfactory to the Company is not established within 90 days after the Company received notice thereof;

 

(2) the Company, at its option, notifies the Trustee in writing that the Company elects to cause the issuance of certificated Securities; or

 

(3) there has occurred and is continuing an Event of Default with respect to the Securities.

 

In all cases, certificated Securities delivered in exchange for any Global Security or beneficial interest therein will be registered in the names, and issued in any approved denominations, requested by or on behalf of the Common Depositary (in accordance with its customary procedures).

 

Payments (including principal, premium and interest) and transfers with respect to Securities in certificated form may be executed at the office or agency maintained for such purpose in London (initially the corporate trust office of the Paying and Calculation Agent) or, at the Company’s option, by check mailed to the holders thereof at the respective addresses set forth in the register of Holders of the Securities, provided that all payments (including principal, premium and interest) on Securities in certificated form, for which the Holders thereof have given wire transfer instructions, will be required to be made by wire transfer of immediately available funds to the accounts specified by the Holders thereof.  No service charge will be made for any registration of transfer, but payment of a sum sufficient to cover any tax or governmental charge payable in connection with that registration may be required.

 

7.             Defeasance.

 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.  If so specified on the face hereof, either or both of such provisions are applicable to this Security, as so specified.

 

8.             Remedies.

 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.

 

15

 

No reference herein to the Indenture and no provision of this 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 premium, if any) and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed.

 

9.             Modification and Waiver.

 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of each series to be affected.

 

Under the Indenture, the Holders of a majority in aggregate principal amount of the Outstanding Securities of this series or any other series of Outstanding Securities may, on behalf of all Holders of that series, waive compliance by the Company with certain restrictive covenants of the Indenture, and waive any past Event of Default under the Indenture, but in each case only with respect to that series, except an Event of Default in the payment of the principal of or any premium or interest on and Securities of that series or an Event of Default under any provision of the Indenture which itself cannot be modified or amended without the consent of the holders of each Outstanding Security of that series.  Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

 

10.          Governing Law.

 

This Security and the Indenture shall be governed by and construed in accordance with the laws of the State of New York.

 

16

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription on the face of this Security, shall be construed as though they were written out in full according to applicable laws or regulations.

 

	
TEN   COM
    	
-
    	
as   tenants in common
    
	
TEN   ENT
    	
-
    	
as   tenants by the entireties
    
	
JT   TEN
    	
-
    	
as   joint tenants with the right of survivorship and not as tenants in common
    

 

	
UNIF GIFT MIN ACT -
    	
 
    	
Custodian
    	
 
    	
 
    
	
 
    	
(Cust)
    	
 
    	
(Minor)
    	
 
    
	
 
    	
under Uniform Gifts to Minors Act
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
(State)
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Additional   abbreviations may also be used though not in the above list.
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
								

 

17

 

ASSIGNMENT

 

	
FOR   VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and   transfer(s) unto 
    
	
 
    
	
PLEASE   INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
    
	
 
    
	
 
    
	
 
    
	
 
    

(Please Print or Typewrite Name and Address
 Including Postal Zip Code of Assignee)

 

the attached Security and all rights thereunder, and hereby irrevocably constitutes and appoints                                                             to transfer said Security on the books of the Company, with full power of substitution in the premises.

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signature   Guaranteed
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
NOTICE:  Signature must be guaranteed.
    	
 
    	
NOTICE:  The signature to this assignment must   correspond with the name of the Holder as written upon the face of the   attached Security in every particular, without alteration or enlargement or   any change whatever.
    

 

18

 

ADDENDUM

 

Redemption for Tax Reasons

 

If, in the written opinion of independent counsel chosen by the Company, there is a substantial probability that the Company has or will become obligated to pay additional interest on this Security as described on the reverse of this Security under “Payment of Additional Interest”, as a result of any of the following events occurring on or after November 12, 2014 (a) any change in, or amendment to, the laws (or any regulations or rulings promulgated thereunder) of the United States or any political subdivision or taxing authority thereof or therein affecting taxation, or any change in official position regarding the application or interpretation of such laws, regulations or rulings, (b) any action taken by a taxing authority of the United States or any political subdivision thereof or therein affecting taxation, which action is generally applied or is taken with respect to the Company, (c) a decision rendered by a court of competent jurisdiction in the United States or any political subdivision thereof or therein, whether or not such decision was rendered with respect to the Company, (d) a private letter ruling or technical advice memorandum issued by the National Office of the United States Internal Revenue Service on substantially the same facts as those affecting the Company or (e) any change, amendment, application, interpretation or execution of the laws of the United States (or any regulations or rulings promulgated thereunder) shall have been officially proposed, which change, amendment, action, application, interpretation or execution would have effect after November 12, 2014 and the Company determines that such obligation cannot be avoided by the use of reasonable measures then available to the Company, then the Company may, at its option, upon not less than 30 nor more than 60 days’ prior notice to the Holder for the time being of this Security, redeem this Security in whole, but not in part, at a redemption price equal to 100% of the principal amount thereof plus accrued interest, if any, to the date fixed for redemption, provided that no such notice of redemption shall be given earlier than 90 days prior to the earliest date on which the Company would be obligated to pay such additional interest if a payment in respect to this Security were due on such date and, at the time such notification of redemption is given, such obligation to pay such additional interest remains in effect. Prior to the publication of any notice of redemption pursuant to this paragraph, the Company shall deliver to the Trustee (i) a certificate stating that the Company is entitled to effect such redemption and that the conditions precedent to the right of the Company to so redeem have occurred and (ii) an opinion of independent counsel chosen by the Company to the effect that there is a substantial probability that the Company has or will become obligated to pay additional interest on this Security.

 

19EX-10.1

 Exhibit 10.1 

Execution Copy 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) made as of June 28, 2011, by and among MAKHTESHIM AGAN INDUSTRIES
LTD., an Israeli company (the “Company”), KOOR INDUSTRIES LTD, an Israeli company (“Koor Industries”), and M.A.G.M. CHEMISTRY HOLDINGS LTD., an Israeli company and a wholly-owned subsidiary of Koor Industries
(“MAGM,” and together with Koor Industries, “Koor”), and China National Agrochemical Corporation, a limited liability company incorporated in the People’s Republic of China (the “Parent”). 

W I T N E S S E T H: 
 WHEREAS,
Koor holds Ordinary Shares of the Company, nominal value NIS 0.01 each (the “Ordinary Shares”); and 
 WHEREAS, Koor, the
Company, and the Parent desire to set forth certain matters regarding Koor’s rights with respect to the Ordinary Shares; 
 NOW,
THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereto agree as follows: 
 1. General
Rights. 
 1.1 Definitions. As used herein, the following terms have the following meanings: 

1.1.1. “Approvals” means all rights, licenses, permits, approvals, waivers, consents, and authorizations of, and all
registrations and filings with, any Governmental Authority. 
 1.1.2. “Company Securities” means all Ordinary Shares of
the Company or, subject to the prior written consent of Koor, all of the common stock of a Listing Vehicle. 
 1.1.3. “Exchange
Act” means the Securities and Exchange Act of 1934, as amended, or any similar successor federal statute and the rules and regulations promulgated thereunder, all as the same shall be in effect from time to time. 

1.1.4. “FINRA” means the Financial Industry Regulatory Authority. 

1.1.5. “Free Writing Prospectus” means a free-writing prospectus, as defined in Rule 405. 

1.1.6. “Initial Public Offering” means after the date of this Agreement, the first public offering of the Company Shares or,
subject to the prior written consent of Koor, the common stock of a Listing Vehicle as to which the terms and conditions of the Shareholders Agreement apply, mutatis mutandis, that directly or indirectly holds 100% of the Company Shares,
pursuant to a prospectus filed pursuant to applicable securities Laws and resulting in the Company Shares or the common stock of such Listing Vehicle being listed on the Hong Kong Stock Exchange, on the main market of the London Stock Exchange by
way of a premium listing (or any successor thereto), on the New York Stock Exchange or on another securities exchange approved by Koor. 

1.1.7. “IPO Resolution” means a resolution of the board of directors of the Company or the board of directors of the Listing
Vehicle approving a Koor-Initiated IPO and/or any other actions taken in connection with a Koor-Initiated IPO, including a corporate restructuring or reorganization, applications for Approvals or a registration of Koor Securities. 

 1.1.8. “ISA” means the Israel Securities Authority. 

1.1.9. “Koor Securities” means all Ordinary Shares or, subject to the prior written consent of Koor, the common stock of a
Listing Vehicle as to which the terms and conditions of the Shareholders Agreement apply, mutatis mutandis, in either case owned from time to time by Koor. 

1.1.10. “Listing Vehicle” means the Company or an entity that directly or indirectly holds all of the Company Shares and the
shares of which are or are intended to be listed on a securities exchange in connection with the Initial Public Offering. 
 1.1.11.
“Lock-Up Period” means, in connection with the Initial Public Offering, any period during which the sale of securities in the Listing Vehicle is prohibited or restricted pursuant to applicable Laws or underwriting agreements in
connection with the Initial Public Offering. 
 1.1.12. “Rule 144”, “Rule 158”, “Rule
405”, and “Rule 415” mean, in each case, such rule promulgated under the Securities Act (or any successor provision) by the SEC, as the same shall be amended from time to time, or any successor rule then in force. 

1.1.13. “SEC” means the U.S. Securities and Exchange Commission. 

1.1.14. “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 1.1.15. “TASE” means the Tel-Aviv Stock Exchange. 

1.1.16. “WKSI” means a “well-known seasoned issuer” as defined under Rule 405. 

1.1.17. Other capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Merger Agreement dated as
of January 8, 2011, by and among the Company, Koor, MAGM, the Parent, and (after its formation and execution of a joinder agreement) Merger Sub. 

1.2 Request of Initial Public Offering. If the Initial Public Offering (in this case only, as defined in the Merger Agreement)
has not occurred on or before the third anniversary of the Effective Time, then Koor, in its sole and absolute discretion, shall be entitled to require the Company to cause the Initial Public Offering to occur and cause the Koor Securities to be
listed (and, if necessary and desirable for the Koor Securities to be listed, cause some or all of the Company Shares not held by Koor to be listed) on a securities exchange selected by Koor in Hong Kong (in which case Section 1.3 shall apply), New
York or Tel-Aviv, or, in the case of London, on the Official List of the UK Listing Authority and to be admitted to trading on the main market of the London Stock Exchange by way of a premium listing (including, if applicable with respect to such
securities exchange, to register all or part of the Koor Securities pursuant to the terms set forth in Section 2 below). The Initial Public Offering effected pursuant to this Section 1.2 shall be referred to herein as the “Koor-Initiated
IPO.” Koor may exercise such right at any time following the third anniversary of the Effective Time by delivering a written notice (the “IPO Notice”) to each of the Company and the Parent, which notice shall specify the
securities exchange on which the Koor Securities will be listed. During the 90-day period following delivery of the IPO Notice (the “Consultation Period”), Koor, the Company and the Parent shall consult with each other and work
together to determine an appropriate structure and timetable for the Koor-Initiated IPO, including determining whether to form a new entity to serve as Listing Vehicle for the Koor-Initiated IPO; provided that in the event of any disagreement
between the parties that cannot be resolved within such Consultation Period, Koor shall have the right, to the extent reasonable, to direct the structure and timetable for the Initial Public Offering. Following the Consultation Period, the Company
shall take all actions necessary to effect the Koor-Initiated IPO on the securities exchange specified in the IPO Notice pursuant to the structure and timetable agreed by the parties or directed by Koor in

  
 2 

 
accordance with the preceding sentence and, if requested by Koor, to form any Listing Vehicle and effect any restructuring or reorganization necessary for the Koor-Initiated IPO to be consummated
by the Listing Vehicle. Notwithstanding anything to the contrary herein, under no circumstances shall Koor have the right to require the Listing Vehicle to issue new shares or the Parent to sell any shares in the Listing Vehicle held by the Company
as part of the Initial Public Offering or Demand Registration. 
 1.3 Koor-Initiated IPO in Hong Kong. In the event that Hong
Kong is selected pursuant to Section 1.2 as the jurisdiction for the Koor-Initiated IPO, the following provisions shall apply: 

1.3.1. The Parent and Company shall not take any action intended to unreasonably prejudice the eligibility for listing of the Company or the
Listing Vehicle, or the prospects of a successful listing application, at any time during the three years ending on the date of the IPO Notice. 

1.3.2. The following are to be mutually agreed during the Consultation Period, and, if the Company and Koor fail to agree to any of the
following during the Consultation Period, then Koor may elect, at its option, to extend the Consultation Period or determine the outcome of such matter in its reasonable discretion: 

(a) the Parent, Koor and the Company shall agree on the form and substance of a written reorganisation plan which sets out the
agreed group structure for the Koor-Initiated IPO, that continuity of the ownership and management of the Company or Listing Vehicle (as the case may be) will be preserved post-restructuring, the necessary steps required to give effect to such plan
and the timeframes for completing each of the steps; 
 (b) the Parent, Koor and the Listing Vehicle shall together select a
listing sponsor; 
 (c) the Listing Vehicle shall formally appoint the listing sponsor selected in accordance with
Section 1.3.2; 
 (d) the Parent, Koor and the Listing Vehicle shall rearrange, or agree on a written plan to
rearrange, any related-party or other connected transactions so as to ensure the Listing Vehicle’s eligibility for listing under the listing rules of the Hong Kong Stock Exchange (the “HKSE Listing Rules”); 

(e) the Parent shall as and when required by the Hong Kong Stock Exchange provide all undertakings customarily given to the
exchange by a listing applicant’s controlling shareholder, including as to non-competition and “lock-up”; 

(f) the Parent, Koor and the Listing Vehicle are reasonably of opinion that the listing application will satisfy the basic
conditions for listing set out in the HKSE Listing Rules. 
 1.4 Koor-Initiated IPO in Tel Aviv. In the event that Koor
requires, as abovementioned, that the Koor-Initiated IPO shall be consummated in Israel, then the Company and the Parent shall take all necessary steps to cause the Company’s Securities to be listed on the TASE, including preparation and filing
with the TASE and ISA of a prospectus, which shall be granted the ISA and the TASE Approvals, be published and comply with all the requirements of the Israeli securities law, the Israeli companies law and all regulations promulgated under those
laws, the TASE set of rules, the ISA guidelines and/or any other applicable Israeli law then in affect (the “Israeli Law”). The Company, the Parent and Koor shall comply with the conditions of the TASE set of rules with respect to
the listing of the Company’s Securities and with all other material and administrative rules and conditions under Israeli Law. 

  
 3 

 1.5 Ongoing Compliance. Following the Koor-Initiated IPO, the Company shall
continue to comply with the rules of the securities exchange on which the Listing Vehicle becomes listed and other applicable Laws, including (without limitation) all exchange listing requirements of any listing authority or other regulatory body
having jurisdiction over the listing, and take all other actions necessary for the Koor Securities to remain listed and tradable on the relevant exchange. 

1.6 IPO Resolution. At the request of Koor or any director of the Company designated by Koor, the Company and the Parent shall
(i) ensure that an IPO Resolution in the form proposed by Koor or such Koor designee is placed on the agenda for, and brought to a vote at, the next meeting of the board of directors of the Company or the Listing Vehicle, as applicable, which
shall be convened within such period of time as specified by Koor or such Koor designee, (ii) ensure that all directors of the Company or the Listing Vehicle designated by the Parent shall attend such meeting, and (iii) use its best
efforts to ensure that, subject to applicable Law, including director fiduciary duties, all directors of the Company or the Listing Vehicle designated by the Parent shall vote in favor of such resolution. 

1.7 Designation of Underwriter. Koor shall have the right to designate the listing sponsor or managing underwriter(s) in any
underwritten offering in connection with the Koor-Initiated IPO or a Demand Registration under this Agreement. 
 1.8
Expenses. All expenses incident to the Company’s performance of or compliance with this Agreement (including, without limitation, all expenses incurred in connection with the Koor-Initiated IPO, all registration, qualification and
filing fees, fees and expenses of compliance with securities or blue sky laws, printing expenses, messenger and delivery expenses, fees and disbursements of custodians, and fees and disbursements of counsel for the Company and all independent
certified public accounts, listing sponsor, underwriters and other Persons retained by the Company) shall be borne by the Company; provided, however, that Koor shall bear any and all broker’s commission or underwriter’s
discount relating to any registration and/or sale of Koor Securities by Koor, including pursuant to a Demand Registration or Piggyback Registration. All fees and expenses of Koor’s counsel in connection with the Koor-Initiated IPO or the
exercise of Koor’s rights under this Agreement shall be borne by Koor. 
 1.9 Indemnities. In the event of the
Koor-Initiated IPO pursuant to this Section 1 or a Demand Registration or Piggyback Registration pursuant to Section 2: 
 1.9.1.
The Company will indemnify and hold harmless, to the fullest extent permitted by law, Koor, any listing sponsor or underwriter selected by Koor, and their respective Affiliates, and their and their Affiliates’ respective employees, officers,
directors, shareholders, partners, representatives and controlling persons, from and against any and all losses, damages, claims, demands, actions, proceedings, investigations, liabilities, costs and expenses (including any amounts paid in any
settlement effected with the Company’s consent) (collectively, “Losses”) to which any such indemnified parties may become subject under applicable law or otherwise, insofar as such Losses arise out of, are based upon or are
otherwise related to, directly or indirectly: (i) any untrue statement or alleged untrue statement contained in the registration statement or included in the prospectus, as amended or supplemented, or otherwise made in connection with any Approval
or (ii) the omission or alleged omission to state therein a fact in the registration statement or prospectus or otherwise connection with any Approval, and the Company will reimburse each of the indemnified parties promptly upon written demand, for
any reasonable legal or any other expenses incurred by them in connection with investigating, preparing to defend or defending against or appearing as a third-party witness in connection with such Losses; provided, however, that the Company will not
be liable to any indemnified party in any such case to the extent that any such Losses arise out of or are based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with and reliance on
information furnished in writing by any indemnified party for the express purpose of including such information in the registration 

  
 4 

 
statement or prospectus or any other Approval document; provided, further, that this indemnity shall not be deemed to relieve any underwriter of any of its due diligence obligations; provided,
further, that the indemnity agreement contained in this subsection 1.9.1 shall not apply to amounts paid in settlement of any such Losses if such settlement is effected without the written consent of the Company, which consent shall not be
unreasonably withheld, conditioned or delayed. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of any of the indemnified parties and regardless of any sale in connection with such offering by
Koor. Such indemnity shall survive the transfer of securities by Koor. 
 1.9.2. Koor will indemnify and hold harmless, to the fullest
extent permitted by law, the Company and its Affiliates, and its and its Affiliates’ respective employees, officers, directors, shareholders, partners, representatives and controlling persons, from and against any and all Losses to which the
Company or any such aforementioned person may become subject under applicable law, insofar as such Losses arise out of, are based upon or are otherwise related to, directly or indirectly, written information furnished by or on behalf of Koor
expressly for use in connection with a Demand Registration or Piggyback Registration, and Koor will reimburse the Company or any such aforementioned person, promptly upon written demand, for any reasonable legal or any other expenses incurred by
them in connection with investigating, preparing to defend or defending against or appearing as a third-party witness in connection with such Losses; provided, however, that under no circumstances will the liability of Koor under this subsection
1.9.2 exceed the net proceeds received by Koor in connection with such Demand Registration or Piggyback Registration, as applicable. 

1.9.3. Promptly after receipt by an indemnified party of notice of the commencement of any action that could reasonably be expected to result
in Losses involving the subject matter of the foregoing indemnity provisions, such indemnified party will, if a claim thereof is to be made against the indemnifying party pursuant to the provisions of said Section 1.9.1, promptly notify the
indemnifying party of the commencement thereof; provided that the omission to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party hereunder, except to the extent that the indemnifying party
is actually prejudiced by the failure to give notice. In case such action is brought against any indemnified party and it notifies the indemnifying party of the commencement thereof, the indemnifying party shall have the right to participate in, and
to assume the defense thereof with counsel reasonably satisfactory to such indemnified party; provided, however, that if the defendants in any action include both the indemnified party and the indemnifying party and the indemnified
party reasonably believes that there is a conflict of interests which would prevent counsel for the indemnifying party from also representing the indemnified party, the indemnified party shall have the right to select one separate counsel to
participate in the defense of such action on behalf of such indemnified party. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party will not be liable to such
indemnified party pursuant to the provisions of said Sections 1.9.1 for any legal expense subsequently incurred by such indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed counsel in
accordance with the provision of the preceding sentence, (ii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after the notice
of the commencement of the action and within 30 days after written notice of the indemnified party’s intention to employ separate counsel pursuant to the previous sentence, or (iii) the indemnifying party has authorized the employment of
counsel for the indemnified party at the expense of the indemnifying party. The indemnifying party will not consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 
 1.9.4. If
recovery is not available under the foregoing indemnification provisions, for any reason other than as specified therein, the parties entitled to indemnification by 

  
 5 

 
the terms thereof shall be entitled to compensation for Losses as more fully set forth in an underwriting agreement to be executed in connection with the Koor-Initiated IPO or registration. In
determining the amount of compensation to which the respective parties are entitled, there shall be considered the parties’ relative knowledge and access to information concerning the matter with respect to which the claim was asserted, the
opportunity to correct and prevent any statement or omission, and any other equitable considerations appropriate under the circumstances. In no event shall the liability of Koor exceed the net proceeds from the offering received by Koor. 

1.10 Obligations of the Company. The Company and, following its formation (if different from the Company), the Listing Vehicle,
shall, subject to and in accordance with applicable Laws, take all actions necessary to (i) effect the Koor-Initiated IPO when required under the terms of Section 1.2 in a manner consistent with the structure and timetable for the Koor-
Initiated IPO agreed between the parties or directed by Koor in accordance with Section 1.2 and (ii) facilitate the disposition of the Koor Securities in connection with and after the Koor-Initiated IPO, including, without limitation, any
of the following: 
 1.10.1. procure that, in connection with the Koor-Initiated IPO, Koor shall have the right and opportunity to sell as
many of the Koor Securities as it desires to sell as part of the Koor-Initiated IPO; 
 1.10.2. effect any reorganization or restructuring
of the Company and its subsidiaries which is permitted by applicable Laws, including forming a new entity as the Listing Vehicle, to enable the Listing Vehicle to consummate the Koor-Initiated IPO; 

1.10.3. if the Listing Vehicle applies for listing of its shares on a securities exchange in any jurisdiction requiring Approvals to be
obtained in respect of any sale of the Koor Securities, take all actions requested by Koor to obtain such Approvals; 
 1.10.4. (a) liaise
with the relevant securities exchange or commission or other relevant Governmental Authority for the listing and (if applicable) registration of the Koor Securities to enable transferability of the Koor Securities and (b) obtain all necessary
Approvals for the Koor Securities to be freely transferable on the relevant securities exchange (subject to the Lock-Up Period as shall be applicable); 

1.10.5. notify Koor at any time when a prospectus or other filing is required to be delivered under applicable Laws of the happening of any
event that comes to its knowledge, as a result of which the prospectus, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein
not misleading; 
 1.10.6. provide a transfer agent and registrar for all Koor Securities; 

1.10.7. in the event of any underwritten public offering, enter into and fully and timely perform its obligations under such customary
agreements (including underwriting agreements in customary form) with any underwriter or underwriters selected by Koor (in Koor’s sole and complete discretion), which agreement would provide, among other things, customary indemnification to the
underwriter(s), and take all such other actions as Koor or the underwriters, if any, reasonably request in order to facilitate the disposition of the Koor Securities (including, without limitation, effecting a stock split, combination of shares,
recapitalization or reorganization); 
 1.10.8. furnish, at the request of Koor, on the date that such Koor Securities are delivered to the
underwriters for sale, if such securities are being sold through underwriters, or when requested by Koor, if such securities are not being sold through underwriters, (i) an opinion, dated such date, of the counsel representing the Company, in
form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a letter or report dated such date, from the independent certified public accountants of the Company,
in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any; 

  
 6 

 1.10.9. make available upon reasonable notice at reasonable times for inspection by Koor, by any
listing sponsor, any underwriter and by any attorney, accountant or other agent retained by Koor or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company and its Affiliates, and
cause all of the Company’s and its controlled Affiliates’ respective officers, directors, employees, agents and representatives, including the accountants to supply all information reasonably requested by any such person in connection with
the Koor-Initiated IPO or registration as shall be necessary to enable them to exercise their due diligence responsibility; provided that any such person gaining access to information regarding the Company or its controlled Affiliates
pursuant to this clause shall agree to hold such information in strict confidence and shall not make any disclosure or use any confidential information regarding the Company or its controlled Affiliates other than in connection with the
Koor-Initiated IPO or registration, unless (w) the release of such information is requested or required (by deposition, interrogatory, requests for information or documents by a Governmental Authority, subpoena or similar process, including in
connection with the Koor-Initiated IPO), (x) such information is or becomes publicly known other than through a breach of this or any other agreement of which such person has knowledge, (y) such information is or becomes available to such
person on a non-confidential basis from a source other than the Company or (z) such information is independently developed by such person; 

1.10.10. cause the senior executive officers of the Company to participate in the customary “road show” presentations that may be
reasonably requested by the underwriter or underwriters in any such underwritten offering and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related thereto; and

 1.10.11. where permitted by applicable Law, regulation or market practice, provide such information and cause the senior executive
officers of the Company to participate in such presentations as may be required by any analyst or broker appointed to provide research or marketing materials regarding the Company for the purpose of the Koor-Initiated IPO. 

1.11 Parent Securities. Following a Koor-Initiated IPO the Parent agrees that any sales of any Ordinary Shares and other
securities of the Company held by the Parent may be subject to a “lock-up” period restricting such sales for such period as may be imposed by applicable Laws and rules of stock exchanges or reasonably imposed by any underwriter, and the
Parent agrees to abide by such “lock-up” periods and to execute and deliver any additional undertaking in this respect which may be required by applicable Laws and rules of stock exchanges or reasonably required by any underwriter. 

1.12 Withdrawal. Koor may withdraw any request for the Koor-Initiated IPO or a Demand Registration or Piggyback Registration at
any time prior to the effectiveness of the Koor- Initiated IPO or the applicable registration statement. Upon receipt of notice to such effect, the Company shall cease all efforts to secure the effectiveness of the Koor-Initiated IPO or the
applicable registration statement and shall take all actions necessary to procure that the Koor- Initiated IPO will not be consummated and the registrations statement will not become effective. In the event that Koor makes two withdrawals of a
request for either the Koor-Initiated IPO or a Demand Registration (other than a withdrawal of a request with respect to which Koor reimbursed the Company for all expenses incident to the Company’s performance of its obligations arising out of
such request), then, thereafter, Koor shall reimburse the Company for all expenses incident to any request for a Koor-Initiated IPO or a Demand Registration. In the event that Koor makes two withdrawals of a request for a Piggyback Registration
(other than a withdrawal of a request with respect to which Koor reimbursed the Company for all expenses incident to the Company’s performance of its obligations arising out of such request), then, thereafter, Koor shall reimburse the Company
for all expenses incident to any request for a Piggyback Registration. 

  
 7 

 1.13 Limitations on Subsequent Registration Rights. Subject to the provisions of
the Shareholders Agreement, the Company may enter into any agreement with any holder or prospective holder of any securities of the Company or the Listing Vehicle to grant such holder or prospective holder registration rights (“Subsequent
Registration Rights”), provided, however, Koor’s right pursuant to this Agreement shall have priority over Subsequent Registration Rights after Koor initiates a Koor-Initiated IPO or requests a Demand Registration, unless otherwise
agreed between the parties hereto. 
 2. Registration Rights. Without limiting any of the rights of Koor or obligations of the
Company pursuant to Section 1, (i) the provisions contained in this Section 2 shall apply in the event that the Initial Public Offering occurs in the United States and (ii) in the event that the Initial Public Offering occurs
outside of the United States, the provisions of this Section 2 shall apply, mutatis mutandis. 
 2.1 Requests for
Registration. Subject to the terms and conditions of this Agreement, Koor may request (including, but not limited to, as part of an IPO Notice delivered pursuant to Section 1.2) registration under the Securities Act of all or any
portion of the Koor Securities (i) on Form F-1 or any similar long-form registration (“Long-Form Registrations”), and (ii) on Form F-3 (including pursuant to Rule 415) or any similar short-form registration
(“Short- Form Registrations”), if available. All registrations requested pursuant to this Section 2.1 are referred to herein as “Demand Registrations”. Each request for a Demand Registration shall specify the
approximate number of Koor Securities requested to be registered and the intended method of distribution. 
 2.2 Long-Form
Registration. Koor shall be entitled to request two Long-Form Registrations in which the Company shall pay all registration expenses. For the avoidance of doubt, Koor shall bear any and all broker’s commission or underwriter’s
discount relating to all Long- Form Registrations and fees and expenses of its own counsel. A registration shall not count as one of the permitted Long-Form Registrations until it has become effective. A registration shall not count as one of the
permitted Long-Form Registrations unless Koor is able to register and sell at least 90% of the Koor Securities requested to be included in such registration; provided that in any event the Company shall pay all registration expenses in
connection with any registration initiated as a Long-Form Registration whether or not it has become effective and whether or not such registration has counted as one of the permitted Long-Form Registrations, unless a request for registration is
withdrawn by Koor, in which case payment of expenses will be made pursuant to Section 1.12. All Long-Form Registrations shall be underwritten registrations unless otherwise approved by Koor. Notwithstanding the foregoing, if a Long-Form
Registration is withdrawn by Koor prior to the time it has become effective for reasons other than the disclosure of information concerning the Listing Vehicle that is materially adverse to the Listing Vehicle or the trading price of the Koor
Securities, such Long-Form Registration shall count as one of the permitted Long-Form Registrations hereunder unless Koor reimburse the Company for all of the registration expenses incurred by the Company prior to such withdrawal. 

2.3 Short-Form Registration. In addition to the Long-Form Registrations provided pursuant to Section 2.2, Koor shall be entitled
to request an unlimited number of Short- Form Registrations in which the Company shall pay all registration expenses. For the avoidance of doubt, Koor shall bear any and all broker’s commission or underwriter’s discount relating to all
Short-Form Registrations and fees and expenses of its own counsel. Demand Registrations shall be Short-Form Registrations whenever the Company is permitted to use any applicable short form and if the managing underwriters (if any) agree to the use
of a Short-Form Registration. After the Company has become subject to the reporting requirements of the Exchange Act, the Company shall use its best efforts to make Short-Form Registrations available for the sale of Koor Securities.

  
 8 

 
If Koor requests that a Short-Form Registration be filed pursuant to Rule 415 (a “Shelf Registration”) and the Company is qualified to do so, the Company shall use its best
efforts to cause the Shelf Registration to be declared effective under the Securities Act as soon as practicable after filing, and once effective, the Company shall cause the Shelf Registration to remain effective for a period ending on the earlier
of (i) the date on which all Koor Securities included in such registration have been sold or distributed pursuant to the Shelf Registration or (ii) the date as of which all of the Koor Securities included in such registration are able to
be sold within a 90-day period in compliance with Rule 144. If for any reason the Company ceases to be a WKSI or becomes ineligible to utilize Form S-3, the Company shall prepare and file with the SEC a registration statement or registration
statements on such form that is available for the sale of Koor Securities. 
 2.4 [Intentionally Omitted] 

2.5 Priority on Demand Registrations. If a Demand Registration is an underwritten offering and the managing underwriters advise
the Company in writing that in their opinion the number of Koor Securities and, if permitted by Koor, other securities requested to be included in such offering exceeds the number of Koor Securities and other securities, if any, which can be sold
therein without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company shall include in such registration (i) first, the number of Koor Securities requested to be included
which, in the opinion of such underwriters, can be sold, without any such adverse effect, and (ii) the number of other securities requested to be included in such offering which, in the opinion of such underwriters, can be sold without any such
adverse effect. Any Persons other than Koor that participate in Demand Registrations (with Koor’s consent, as required under Section 2.4) are required to pay their own registration expenses. 

2.6 Right to Piggyback. Subject to Section 2.4, whenever the Company proposes to register any of its securities under the
Securities Act (other than (i) pursuant to a Demand Registration or (ii) in connection with registrations on Form S-4 or S-8 promulgated by the SEC or any successor or similar forms) and the registration form to be used may be used for the
registration of Koor Securities (a “Piggyback Registration”), the Company shall give prompt written notice to Koor of its intention to effect such Piggyback Registration and, subject to the terms of Section 2.6, shall include
in such Piggyback Registration (and in all related registrations or qualifications under blue sky laws and in any related underwriting) all Koor Securities with respect to which the Company has received written requests for inclusion therein within
20 days after delivery of the Company’s notice. The registration expenses of Koor shall be paid by the Company in all Piggyback Registrations, whether or not any such registration became effective. For the avoidance of doubt, Koor shall bear
any and all broker’s commission or underwriter’s discount relating to all Piggyback Registrations and fees and expenses of its own counsel. 

2.7 Priority on Piggyback Registrations. If a Piggyback Registration is an underwritten primary registration on behalf of the
Company, and the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number which can be sold in such offering without adversely affecting the
marketability, proposed offering price, timing or method of distribution of the offering, the Company shall include in such registration (i) first, the securities that the Company proposes to sell to the extent, in the opinion of the
underwriters, such securities can be sold without any such adverse effect and (ii) second, the Koor Securities requested to be included in such registration. 

2.8 Rule 144 Reporting. With a view to making available to Koor the benefits of certain rules and regulations of the SEC that
may permit the sale of Koor Securities to the public without registration after such time as a public market exists for the Koor Securities, the Company agrees to take the following actions: (a) make and keep public information available, as those
terms are understood and defined in Rule 144, at all times after the date the Company becomes subject to the reporting requirements of the Securities Act and Exchange Act; (b) file with the SEC all reports and other documents required to be filed
(no later than when such reports are so required to be filed) 

  
 9 

 
under the Securities Act and the Exchange Act; and (c) as long as Koor owns Koor Securities, furnish to Koor forthwith upon written request (i) a written statement by the Company as to
its compliance with the reporting requirements of Rule 144 and of the Exchange Act (at any time after it has become subject to such requirements); (ii) a copy of the most recent annual or quarterly report of the Company filed with the SEC; and
(iii) such other reports and documents as Koor may reasonably request in connection with availing itself of any rule or regulation of the SEC allowing it to sell any such securities without registration. 

2.9 Obligations of the Company. Whenever Koor has requested any Koor Securities to be registered pursuant to this Agreement, the
Listing Vehicle, in addition to performing any applicable obligations under this Agreement, including Section 1.8, shall use its best efforts to effect the registration and the sale of such Koor Securities in accordance with the intended method
of disposition thereof, and pursuant thereto the Listing Vehicle shall as expeditiously as possible, without limitation: 
 2.9.1. in
accordance with the Securities Act and all applicable rules and regulations promulgated thereunder, prepare and file with the SEC a registration statement, and all amendments and supplements thereto and related prospectuses, with respect to such
Koor Securities and use its best efforts to cause such registration statement to become effective as promptly as practicable and in any event within 150 days following receipt of a request for a Koor-Initiated IPO registration from Koor or within 90
days following receipt of request for any other registration from Koor, provided that the Company’s obligations to use its best efforts to cause such registration statement to become effective pursuant to this Section 2.9.1 shall be
subject to regulatory conditions and that the Company shall not be deemed to have breached such obligations if the registration statement is not effective within the aforementioned time period as a result of any action taken or failed to be taken by
Koor, provided, further, that before filing a registration statement or prospectus or any amendments or supplements thereto, the Listing Vehicle shall furnish to the counsel selected by Koor copies of all such documents proposed to be filed; 

2.9.2. notify Koor of (A) the issuance by the SEC of any stop order suspending the effectiveness of any registration statement or the
initiation of any proceedings for that purpose, (B) the receipt by the Listing Vehicle or its counsel of any notification with respect to the suspension of the qualification of the Koor Securities for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose, and (C) the effectiveness of each registration statement filed hereunder; 
 2.9.3.
prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of
all Koor Securities covered by such registration statement and keep such registration statement effective for a period ending when all of the securities covered by such registration statement have been disposed of in accordance with the intended
methods of distribution by Koor set forth in such registration statement (but not in any event before the expiration of any longer period required under the Securities Act or, if such registration statement relates to an underwritten Public
Offering, such longer period as in the opinion of counsel for the underwriters a prospectus is required by law to be delivered in connection with sale of Koor Securities by an underwriter or dealer) and comply with the provisions of the Securities
Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such registration statement; 

2.9.4. furnish to Koor such number of copies of such registration statement, each amendment and supplement thereto, the prospectus included
in such registration statement (including each preliminary prospectus), each Free Writing Prospectus and such other documents as Koor may reasonably request in order to facilitate the disposition of the Koor Securities; 

  
 10 

 2.9.5. use its best efforts to register or qualify such Koor Securities under such state
securities or blue sky laws of such jurisdictions as Koor reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable Koor to consummate the disposition in such jurisdictions of the Koor
Securities; 
 2.9.6. notify Koor (A) promptly after it receives notice thereof, of the date and time when such registration statement
and each post-effective amendment thereto has become effective or a prospectus or supplement to any prospectus relating to a registration statement has been filed and when any registration or qualification has become effective under a state
securities or blue sky law or any exemption thereunder has been obtained, (B) promptly after receipt thereof, of any request by the SEC for the amendment or supplementing of such registration statement or prospectus or for additional
information, and (C) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such registration statement contains an
untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, at the request of Koor, the Listing Vehicle shall prepare a supplement or amendment to such prospectus so that, as thereafter
delivered to the purchasers of such Koor Securities, such prospectus shall not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading; 

2.9.7. use best efforts to cause all such Koor Securities to be listed on each securities exchange on which similar securities issued by the
Listing Vehicle are then listed and, if not so listed, to be listed on a securities exchange and, without limiting the generality of the foregoing, to arrange for at least two market markers to register as such with respect to such Koor Securities
with FINRA; 
 2.9.8. use best efforts to provide a transfer agent and registrar and CUSIP number for all such Koor Securities not later
than the effective date of such registration statement; 
 2.9.9. take all reasonable actions to ensure that any Free-Writing Prospectus
utilized in connection with any Demand Registration or Piggyback Registration hereunder complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in
accordance with the Securities Act to the extent required thereby and, when taken together with the related prospectus, shall not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading; 
 2.9.10. otherwise use its best efforts to comply with
all applicable rules and regulations of the SEC, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve months beginning with the first day of the Company’s
first full calendar quarter after the effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158; 

2.9.11. permit Koor to participate in the preparation of such registration or comparable statement and to allow Koor to provide language for
insertion therein, in form and substance satisfactory to the Listing Vehicle; 
 2.9.12. in the event of the issuance of any stop order
suspending the effectiveness of a registration statement, or the issuance of any order suspending or preventing the use of any related prospectus or suspending the qualification of any securities included in such registration statement for sale in
any jurisdiction use reasonable best efforts promptly to obtain the withdrawal of such order; 
 2.9.13. use its best efforts to cause such
Koor Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the disposition of such Koor Securities; 

  
 11 

 2.9.14. cooperate with Koor and the managing underwriter or agent, if any, to facilitate the
timely preparation and delivery of certificates (not bearing any restrictive legends) representing securities to be sold under the registration statement and enable such securities to be in such denominations and registered in such names as the
managing underwriter, or agent, if any, or such holders may request; 
 2.9.15. cooperate with Koor and each underwriter or agent
participating in the disposition of such Koor Securities and their respective counsel in connection with any filings required to be made with FINRA; 

2.9.16. use its best efforts to make available the executive officers of the Company to participate with Koor and any underwriters in any
“road shows” or other selling efforts that may be reasonably requested by the holders in connection with the methods of distribution for the Koor Securities; 

2.9.17. use its best efforts to obtain one or more cold comfort letters from the Company’s independent public accountants in customary
form and covering such matters of the type customarily covered by cold comfort letters; and 
 2.9.18. use its best efforts to provide a
legal opinion of the Listing Vehicle’s outside counsel, (which, if such registration includes an underwritten Public Offering, shall be dated the date of the closing under the underwriting agreement), the registration statement, each amendment
and supplement thereto, the prospectus included therein (including the preliminary prospectus) and such other documents relating thereto in customary form and covering such matters of the type customarily covered by legal opinions of such nature,
which opinion shall be addressed to the underwriters. 
 3. Miscellaneous. 

3.1 Entire Agreement. This Agreement constitutes the entire agreement among the Parties with respect to the subject matter
hereof and thereof and supersedes all prior and contemporaneous agreements and understandings, both oral and written between the Parties with respect to the subject matter hereof and thereof. 

3.2 Binding Effect; Benefit. This Agreement shall inure to the benefit of and be binding upon the Parties and their respective
heirs, successors, legal representatives and permitted assigns. Nothing in this Agreement, expressed or implied, is intended to confer on any Person other than the Parties, and their respective heirs, successors, legal representatives and permitted
assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement. 
 3.3 Assignability. Subject
to the Shareholders Agreement, all of Koor’s rights, remedies, obligations or liabilities arising hereunder or by reason hereof shall be assignable by Koor in connection with any transfer of Koor Securities. The rights, remedies, obligations
and liabilities of the Company and Parent arising hereunder or by reason hereof may not be assigned without the prior written consent of Koor. 

3.4 Amendment; Waiver. No provision of this Agreement may be waived except by an instrument in writing executed by the Party
against whom the waiver is to be effective. No provision of this Agreement may be amended or otherwise modified except by an instrument in writing executed by each party hereto. 

3.5 Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be
deemed to have been duly given and received when sent by fax (with confirmation in writing sent via registered mail) or delivered personally, in either case, prior to 3:00 p.m., local time, in the place of receipt (provided that such day is a
Business Day in the place of receipt, otherwise such notice shall be deemed given on the next Business Day in the 

  
 12 

 
place of receipt), or on the third Business Day after being sent by international courier to a Party, at the fax number or address set forth below or at such other addresses as shall be furnished
by the Parties by like notice: 
 (i) if to the Company, to: 
  

					
		 	 Makhteshim - Agan Industries Ltd.

Golan Street, Airport City, Israel
 P.O.B 298 Israel
70151

		 	Attention:	  	Michal Arlosoroff, Adv., Senior Vice President & General Legal Counsel
		 	Facsimile:	  	+972-73-232-1937
		
		 	with a copy (which shall not constitute notice) to:
		
		 	 Herzog, Fox, Neeman & Co.

4 Weizmann Street
 Tel Aviv 64239, Israel

		 	Attention:	  	Ilanit Landesman, Adv.
		 	Facsimile:	  	+972-3-6966464
		
		 	(ii) If to Koor, to:
		
		 	 Koor Industries Ltd.
 3 Azrieli
Center
 Triangle Tower, 43rd Floor
 Tel Aviv 67023

Israel

		 	Facsimile: +972-3-607-5110
		 	Attention: Raanan Cohen, CEO

 with a copy to (which shall not constitute notice): 

 

					
		 	 Goldfarb, Levy, Eran, Meiri, Tzafrir & Co.

2 Weizmann Street
 Tel Aviv 64239

Israel

		 	Attention: Nechama Brin, Adv. and Ashok Chandrasekhar, Adv.
		 	Facsimile: +972-3-608-9879

 (iii) if to the Parent, to: 
  

					
		 	 China National Agrochemical Corporation

62 Beisihuan Xilu
 Haidian District

Beijing 100080
 PRC

		 	Attention:	  	Mr. Chen Hongbo, Assistant President
		 	Facsimile:	  	+86 (10) 8267-7386

  
 13 

					
		 	 with copies (which shall not constitute notice) to:

		
		 	 Simpson Thacher & Bartlett LLP

35/F, ICBC Tower, 3 Garden Road
 Central, Hong Kong

		 	Attention:	  	Kathryn King Sudol, Esq.
		 	Facsimile:	  	+852-2869-7694
		
		 	 Simpson Thacher & Bartlett LLP

3119 China World Office 1
 1 Jianguomenwai Avenue

Beijing 100004, China

		 	Attention:	  	Shaolin Luo, Esq.
		 	Facsimile:	  	+86 (10) 5965-2988
			
		 	and	  	
		
		 	 Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co.

One Azrieli Center,
 Tel-Aviv, 67021, Israel

		 	Attention:	  	David Hodak, Adv. and Esther Koren, Adv.
		 	Facsimile:	  	+972-3-607-4422

 3.6 Effectiveness. This Agreement is being executed and delivered concurrently with the Closing
under the Merger Agreement and shall become effective immediately following the Effective Time. 
 3.7 No Inconsistent
Agreements. The Company represents that it has not granted and is not a party to any agreement which is inconsistent with or conflicts with any provision of this Agreement, and shall not become party to any agreement which is inconsistent
with or conflicts with any provision of this Agreement. 
 3.8 Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. This Agreement, and any amendments or agreements of assumption hereto, may be signed and delivered by means of
a facsimile machine or email with a scan or facsimile attachment, which shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original
signed version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No party hereto
or to any such agreement or instrument shall raise the use of a facsimile machine or email to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or
email as a defense to the formation or enforceability of a contract, and such party waives any such defense. 
 3.9 Governing
Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York; provided, however, that as to any internal corporate governance matters, this Agreement shall be governed by, and construed in
accordance with, the laws of the State of Israel. 
 3.10 Arbitration. Except for an action for specific performance pursuant
to Section 3.11, all disputes, controversies or claims arising out of or in connection with this 

  
 14 

 
Agreement shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by three arbitrators appointed in accordance with the said Rules. The place of
arbitration shall be London. The language of the arbitration shall be English. 
 3.11 Specific Enforcement. Each Party
acknowledges that the remedies at law of the other Parties for a breach or threatened breach of this Agreement would be inadequate and, in recognition of this fact, any Party, without posting any bond, and in addition to all other remedies which may
be available, shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available. 

3.12 Severability. If one or more provisions of this Agreement are held to be unenforceable to any extent under applicable Law,
such provision shall be interpreted as if it were written so as to be enforceable to the maximum possible extent so as to effectuate the Parties’ intent to the maximum possible extent, and the balance of the Agreement shall be interpreted as if
such provision were so excluded and shall be enforceable in accordance with its terms to the maximum extent permitted by Law. 
 3.13
Listing Vehicle. In the event that the Listing Vehicle in connection with the Initial Public Offering is an entity other than the Company, then the Listing Vehicle shall, and the parties hereto shall cause the Listing Vehicle to,
become a party to this Agreement by executing a joinder agreement in the form attached hereto as Exhibit A, and to perform all obligations of the Company set forth herein, mutatis mutandis. 

3.14 Parent Undertakings. (a) The Parent shall provide full cooperation with all actions in connection the Initial Public
Offering and any Demand Registration or Piggyback Registration including, without limitation, all necessary filings, agreements, actions, and undertakings. 

(b) The Parent shall, and shall cause any of its Affiliates that are parties to the Shareholders Agreement to, agree to any amendment to the
Shareholders Agreement necessary to give effect to the provisions of this Agreement, including, if the Listing Vehicle is an entity other than the Company, appropriate modifications to the Shareholders Agreement so that it covers securities in the
Listing Vehicle. 

  
 15 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	MAKHTESHIM AGAN INDUSTRIES LTD.
	Makhteshim Agan Industries Ltd
		
	By:	 	/s/ Erez Vigodman
		 	  

	Name:	 	Erez Vigodman
	Title:	 	President & CEO
		
	By:	 	/s/ Michal Arlosoroff
		 	  

	Name:	 	Michal Arlosoroff
	Title:	 	SVP General Legal Counsel
	
	KOOR INDUSTRIES LTD.
	
	Koor Industries Ltd.
		
	By:	 	 /s/ Raanan Cohen

		 	  

	Name:	 	Raanan Cohen
	Title:	 	CEO
	
	M.A.G.M. CHEMISTRY HOLDINGS LTD.
		
	By:	 	 /s/ Raanan Cohen

		 	  

	Name:	 	Raanan Cohen
	Title:	 	Director

  
 [Signature Page to
Registration Rights Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	
	CHINA NATIONAL AGROCHEMICAL CORPORATION
		
	By:	 	 /s/ Lei Zhihong

		 	  

	Name:	 	Lei Zhihong
	Title:	 	General Manager

  
 [Signature Page to
Registration Rights Agreement] 

 EXHIBIT A 

Form of Joinder Agreement 

 JOINDER AGREEMENT 

This JOINDER AGREEMENT (this “Joinder Agreement”) is made and entered into as of [insert date] by [insert name of Listing
Vehicle], a company organized under the laws of [insert jurisdiction] (the “Listing Vehicle”) and relates to that certain Registration Rights Agreement dated as of June 28, 2011 (the “Registration Rights
Agreement”), by and among Makhteshim Agan Industries Ltd., Koor Industries Ltd., M.A.G.M. Chemistry Holdings Ltd. and China National Agrochemical Corporation (collectively, the “Original Parties”). Capitalized terms used
and not defined herein shall have the meanings ascribed to such terms in the Registration Rights Agreement. 
 WHEREAS, the Listing Vehicle
is an entity that directly or indirectly holds all of the Company Shares and the shares of which are or are intended to be listed on a securities exchange in connection with the Initial Public Offering; and 

WHEREAS, the Registration Rights Agreement contemplates that the Listing Vehicle shall become a party to the Registration Rights Agreement by
executing this Joinder Agreement; 
 NOW THEREFORE, in consideration of the foregoing and the covenants and agreements contained herein and
in the Registration Rights Agreement, and intending to be legally bound hereby, the Listing Vehicle hereby agrees as follows: 

Section 1.01 Upon its execution of this Joinder Agreement and in accordance with Section 3.13 of the Registration Rights Agreement,
the Listing Vehicle shall become a party to the Registration Rights Agreement and be bound by the provisions of the Registration Rights Agreement applicable to the Listing Vehicle. 

Section 1.02 This Joinder Agreement is made and entered into for the benefit of the Original Parties and their respective successors and
assigns permitted under the Registration Rights Agreement. 
 Section 1.03 This Joinder Agreement may be executed in two or more
counterparts (including by fax or electronic scan, such as PDF), each of which shall be deemed to be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument, and shall become effective when one or more
counterparts have been signed by each of the parties and delivered (including by fax or electronic scan, such as PDF) to the other parties. 

Section 1.04 This Joinder Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. All disputes,
controversies or claims arising out of or in connection with this Agreement shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by three arbitrators appointed in accordance with the said Rules. The place
of arbitration shall be London. The language of the arbitration shall be English. 

 IN WITNESS WHEREOF, the undersigned has caused this Joinder Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	[LISTING VEHICLE]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	ACKNOWLEDGED AND AGREED:
	
	MAKHTESHIM AGAN INDUSTRIES LTD.
		
	BY:	 	  

		 	Name:
		 	Title:
	
	KOOR INDUSTRIES LTD.
		
	BY:	 	  

		 	Name:
		 	Title:
	
	M.A.G.M. CHEMISTRY HOLDINGS LTD.
		
	BY:	 	  

		 	Name:
		 	Title:
	
	CHINA NATIONAL AGROCHEMICAL CORPORATION
		
	BY:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to
Listing Vehicle Joinder Agreement]

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