Document:

EX-4.15

 Exhibit 4.15 

FOURTEENTH SUPPLEMENTAL INDENTURE 

Dated as of March 17, 2021 

Between 
 MICROSOFT
CORPORATION, 
 as Issuer 

and 
 THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A., 
 as Trustee 

to 
 INDENTURE 

Dated as of May 18, 2009 

Between 
 MICROSOFT
CORPORATION, as Issuer 
 and 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as trustee 

 
  

2.921% Notes due 2052 

3.041% Notes due 2062 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE 1. DEFINITIONS
	  	 	2	
			
	 Section 1.1.
	 	Definition of Terms	  	 	2	
		
	 ARTICLE 2. TERMS AND CONDITIONS OF NOTES
	  	 	2	
			
	 Section 2.1.
	 	Designation and Principal Amount	  	 	2	
	 Section 2.2.
	 	Maturity	  	 	3	
	 Section 2.3.
	 	Further Issues	  	 	3	
	 Section 2.4.
	 	Payment	  	 	3	
	 Section 2.5.
	 	Global Securities	  	 	3	
	 Section 2.6.
	 	Interest	  	 	3	
	 Section 2.7.
	 	Authorized Denominations	  	 	4	
	 Section 2.8.
	 	Redemption and Sinking Fund	  	 	4	
	 Section 2.9.
	 	Ranking	  	 	4	
	 Section 2.10.
	 	Appointments	  	 	4	
	 Section 2.11.
	 	Defeasance	  	 	4	
		
	 ARTICLE 3. FORM OF NOTES
	  	 	4	
			
	 Section 3.1.
	 	Form of Notes	  	 	4	
		
	 ARTICLE 4. ORIGINAL ISSUE OF NOTES
	  	 	4	
			
	 Section 4.1.
	 	Original Issue of Notes	  	 	4	
		
	 ARTICLE 5. MISCELLANEOUS
	  	 	5	
			
	 Section 5.1.
	 	Ratification of Indenture	  	 	5	
	 Section 5.2.
	 	Trustee Not Responsible for Recitals	  	 	5	
	 Section 5.3.
	 	Governing Law	  	 	5	
	 Section 5.4.
	 	Separability	  	 	5	
	 Section 5.5.
	 	Counterparts	  	 	5	
	 Section 5.6.
	 	Electronic Means	  	 	5	
		
	 EXHIBIT A – Form of 2052 Notes
	  	 	A-1	 
		
	 EXHIBIT B – Form of 2062 Notes
	  	 	B-1	 

  
 i 

 FOURTEENTH SUPPLEMENTAL INDENTURE, dated as of March 17, 2021 (this “Supplemental
Indenture”), between MICROSOFT CORPORATION, a corporation duly organized and existing under the laws of the State of Washington (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking
association duly organized and existing under the laws of the United States, as Trustee (the “Trustee”). 
 RECITALS OF THE
COMPANY 
 WHEREAS, the Company executed and delivered to The Bank of New York Mellon Trust Company, N.A., a national banking association,
as trustee, the Indenture, dated as of May 18, 2009 (the “Indenture”), to provide for the issuance of the Company’s debt securities (the “Securities”), to be issued in one or more series, a First
Supplemental Indenture, dated as of May 18, 2009, a Second Supplemental Indenture, dated as of September 27, 2010, a Third Supplemental Indenture, dated as of February 9, 2011, a Fourth Supplemental Indenture, dated as of
November 7, 2012, a Fifth Supplemental Indenture, dated as of May 2, 2013, a Sixth Supplemental Indenture, dated as of May 2, 2013, a Seventh Supplemental Indenture, dated as of December 6, 2013, an Eighth Supplemental Indenture,
dated as of December 6, 2013, a Ninth Supplemental Indenture, dated as of February 12, 2015, a Tenth Supplemental Indenture, dated as of November 3, 2015, an Eleventh Supplemental Indenture, dated as of August 8, 2016, a Twelfth
Supplemental Indenture, dated as of February 6, 2017 and a Thirteenth Supplemental Indenture, dated as of June 1, 2020; 

WHEREAS, pursuant to the terms of the Indenture, the Company desires to provide for the establishment of two new series of its Securities
under the Indenture to be known as its “2.921% Notes due 2052” (the “2052 Notes”) and “3.041% Notes due 2062” (the “2062 Notes” and, together with the 2052 Notes, the “Notes”),
the form and substance and the terms, provisions and conditions thereof to be set forth as provided in the Indenture and this Supplemental Indenture; 

WHEREAS, the Board of Directors of the Company by duly adopted resolutions has authorized the proper officers of the Company to, among other
things, determine the terms of the Securities to be issued under the Indenture and execute any and all appropriate documents necessary or appropriate to effect each such issuance; 

WHEREAS, this Supplemental Indenture is being entered into pursuant to the provisions of Section 901 of the Indenture; 

WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture; and 

WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the Company, in accordance with its terms, and to make
the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed, and the execution and delivery of this Supplemental Indenture has been duly authorized in all
respects. 

 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, and for the purpose of setting forth, as
provided in the Indenture, the forms and terms of the Notes, the Company covenants and agrees, with the Trustee, as follows: 
 ARTICLE 1.

 DEFINITIONS 

Section 1.1.    Definition of Terms. 

(a)     “Electronic Means” shall mean the following communications methods: e-mail, facsimile transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the
Trustee as available for use in connection with its services hereunder. 
 (b)    Unless the context otherwise requires:

 (i)    each term defined in the Indenture has the same meaning when used in this Supplemental
Indenture; 
 (ii)    the singular includes the plural, and vice versa; 

(iii)    headings are for convenience of reference only and do not affect interpretation. 

ARTICLE 2. 
 TERMS AND
CONDITIONS OF NOTES 
 Section 2.1.    Designation and Principal Amount. 

(a)    There is hereby authorized and established a series of Securities under the Indenture, designated as the
“2.921% Notes due 2052,” which is initially limited in aggregate principal amount to $[●] (except upon registration of transfer of, or in exchange for, or in lieu of, other 2052 Notes pursuant to Section 304, 305, 306, 906 or
1107 of the Indenture and except for any Securities which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and delivered). 

(b)    There is hereby authorized and established a series of Securities under the Indenture, designated as the
“3.041% Notes due 2062,” which is initially limited in aggregate principal amount to $[●] (except upon registration of transfer of, or in exchange for, or in lieu of, other 2062 Notes pursuant to Section 304, 305, 306, 906 or
1107 of the Indenture and except for any Securities which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and delivered). 

  
 2 

 (c)    The Notes may be authenticated by the Trustee by manual,
facsimile or electronic signature. 
 Section 2.2.    Maturity. 

(a)    The Stated Maturity of principal of the 2052 Notes shall be March 17, 2052. 

(b)    The Stated Maturity of principal of the 2062 Notes shall be March 17, 2062. 

Section 2.3.    Further Issues. The Company may at any time and from time to time, without the consent of the
Holders of any series of the Notes, issue additional notes of any series; provided that such additional notes are fungible for U.S. federal income tax purposes with the relevant series of Notes. Any such additional notes shall have the same
ranking, interest rate, maturity date and other terms as the relevant series of Notes. Any such additional notes of a series, together with the Notes of the relevant series herein provided for, shall constitute a single series of Securities under
the Indenture. 
 Section 2.4.    Payment. Principal of (and the applicable redemption price, if any) and
interest on the Notes shall be payable in U.S. dollars in immediately available funds at the office or agency of the Company maintained for such purpose, which shall initially be at an office of the Trustee located at 400 South Hope Street, Suite
500, Los Angeles, California 90071, Attention: Corporate Trust Administration – Microsoft Corporation; provided, however, that, at the option of the Company, the Company may pay interest by check mailed to the Holder entitled
thereto at such Holder’s address as it appears on the Security Register at the close of business on the Regular Record Date for such Holder or by wire transfer to an account appropriately designated by the Holder to the Company and the Trustee;
and provided, further, that the Company will pay principal of and interest on, the Notes in global form registered in the name of or held by The Depository Trust Company (“DTC”) or such other Depositary as any Officer
of the Company may from time to time designate, or its respective nominee, by wire in immediately available funds to such Depositary or its nominee, as the case may be, as the registered holder of such Notes in global form. 

Section 2.5.    Global Securities. Upon the original issuance, the Notes will be represented by Global
Securities registered in the name of Cede & Co., the nominee of DTC. The Company will deposit the Global Securities with DTC or its custodian and register the Global Securities in the name of Cede & Co. 

Section 2.6.    Interest. 

(a)    The 2052 Notes will bear interest (computed on the basis of a 360-day year
consisting of twelve 30-day months) from March 17, 2021 at the rate of 2.921% per annum, payable semi-annually in arrears. Interest payable on each Interest Payment Date will include interest accrued from
March 17, 2021, or from the most recent Interest Payment Date to which interest has been paid or duly provided for. The Interest Payment Dates on which such interest shall be payable are March 17 and September 17, commencing on
September 17, 2021; and the Regular Record Date for the interest payable on any Interest Payment Date is the close of business on the March 2 or the September 2, as the case may be, next preceding the relevant Interest Payment Date.

  
 3 

 (b)    The 2062 Notes will bear interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from March 17, 2021 at the rate of 3.041% per annum, payable semi-annually in arrears. Interest payable on each Interest
Payment Date will include interest accrued from March 17, 2021, or from the most recent Interest Payment Date to which interest has been paid or duly provided for. The Interest Payment Dates on which such interest shall be payable are
March 17 and September 17, commencing on September 17, 2021; and the Regular Record Date for the interest payable on any Interest Payment Date is the close of business on the March 2 or the September 2, as the case may be,
next preceding the relevant Interest Payment Date. 
 Section 2.7.    Authorized Denominations. The Notes
shall be issuable in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

Section 2.8.    Redemption and Sinking Fund. The Notes shall not be redeemable at the option of the
Company or at the option of the Holders except as set forth in the Notes. The Notes shall not be entitled to the benefit of any sinking fund. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the
applicable Depositary pursuant to the applicable Depositary procedures. 
 Section 2.9.    Ranking. The
Notes shall be senior unsecured debt securities of the Company, ranking equally with the Company’s other unsecured and unsubordinated debt. 

Section 2.10.    Appointments. The Trustee will be the Trustee, the initial Security Registrar and the
initial Paying Agent for the Notes under the Indenture, as supplemented by this Supplemental Indenture. 

Section 2.11.    Defeasance. The Company may elect, at its option at any time, pursuant to Section 1301
of the Indenture, to have Section 1302 or Section 1303 of the Indenture, or both, apply to the 2052 Notes or the 2062 Notes, or all, or any principal amount thereof. 

ARTICLE 3. 
 FORM OF
NOTES 
 Section 3.1.    Form of Notes. The Notes and the Trustee’s Certificate of Authentication
to be endorsed thereon are to be substantially in the forms set forth in Exhibits A and B hereto. 
 ARTICLE 4. 

ORIGINAL ISSUE OF NOTES 

Section 4.1.    Original Issue of Notes. The Notes may, upon execution of this Supplemental Indenture, be
executed by the Company and delivered to the Trustee for authentication, and the Trustee shall, upon Company Order, authenticate and deliver such Notes as in such Company Order provided. 

  
 4 

 ARTICLE 5. 

MISCELLANEOUS 

Section 5.1.    Ratification of Indenture. The Indenture, as supplemented by this Supplemental Indenture, is
in all respects ratified, confirmed and binding upon the parties hereto, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided; provided, however, that the
provisions of this Supplemental Indenture shall apply solely with respect to the Notes. 

Section 5.2.    Trustee Not Responsible for Recitals. The recitals herein contained are made by the Company
and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 

Section 5.3.    Governing Law. This Supplemental Indenture and each Note shall be governed by, and construed
in accordance with, the laws of the State of New York. 
 Section 5.4.    Separability. In case any one or
more of the provisions contained in the Indenture, this Supplemental Indenture or the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any
other provisions of the Indenture, this Supplemental Indenture or the Notes, but the Indenture, this Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or
therein. 
 Section 5.5.    Counterparts. This Supplemental Indenture may be executed in any number of
counterparts each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 

Section 5.6.    Electronic Means. The Trustee shall have the right to accept and act upon instructions,
including funds transfer instructions (“Instructions”) given pursuant to this Supplemental Indenture and the Notes and delivered using Electronic Means; provided, however, that the Company shall provide to the Trustee an incumbency
certificate listing officers with the authority to provide such Instructions (“Authorized Officers”) and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a
person is to be added or deleted from the listing. If the Company elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustee’s understanding of such
Instructions shall be deemed controlling. The Company understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to
have been sent by an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to
the Trustee and that the Company and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Company. The Trustee
shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent written
instruction. The Company agrees: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of
interception and misuse by third parties; (ii) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting
Instructions than the method(s) selected by the Company; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light of its
particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures. 

[Signature page follows] 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the day and year first above written. 
  

			
	MICROSOFT CORPORATION
		
	By: 	 	      

		 	Name: 
		 	Title: 

  

			
	 THE BANK OF NEW YORK MELLON

TRUST COMPANY, N.A.,

    as Trustee

		
	 By:
	 	      

		 	Name:
		 	 Title:

 [Signature Page to Fourteenth Supplemental Indenture] 

 EXHIBIT A 

FORM OF 2.921% NOTE DUE 2052 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE REFERRED TO HEREIN AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE
NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

MICROSOFT CORPORATION 

2.921% Notes due 2052 
 CUSIP No.: 594918
CE2 
 ISIN: US594918CE21 
  

			
	No. A-[●]    	  	$[●]

 MICROSOFT CORPORATION, a corporation duly incorporated under the laws of the State of Washington (herein
called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of $[●]
([●] DOLLARS) on March 17, 2052, and to pay interest thereon from March 17, 2021 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on March 17 and September 17
of each year, commencing on September 17, 2021, at the rate of 2.921% per annum, until the principal hereof is paid or made available for 

  
 A-1 

 
payment; provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of 2.921% per annum (to the extent permitted by
applicable law), from the dates such amounts are due until they are paid or made available for payment, and such interest 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 such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 2 or the
September 2 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Note (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 Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Reference is hereby made to the further provisions of this Note 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 referred to on the reverse hereof by manual or electronic signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-2 

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

Dated: March 17, 2021 
  

			
	MICROSOFT CORPORATION
		
	By:	 	      

		 	Name:
		 	Title:

  
 A-3 

 This Note is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
 Dated: March 17, 2021 
  

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

    as Trustee

		
	 By: 
	 	      

		 	 Authorized Signatory

  
 A-4 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued under an
Indenture, dated as of May 18, 2009, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, and a fourteenth supplemental indenture relating to such series dated as of March 17, 2021 (herein, collectively 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 Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, such series initially limited in aggregate principal amount to $[●];
provided that the Company may at any time and from time to time, without the consent of any Holder, issue additional Notes of this series. 

The Notes of this series are not redeemable at the option of the Holders. 

At any time prior to September 17, 2051, the Notes shall be redeemable in whole or in part, at any time or from time to time, at the
Company’s option, on at least 10 days’ but not more than 60 days’ prior notice mailed to the registered address of each Holder of Notes to be redeemed, at a redemption price (the “Make-Whole Redemption Price”),
calculated by the Company, equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of each remaining scheduled payment of principal and interest on the Notes to be redeemed
(assuming for such purposes that the Notes mature on September 17, 2051) (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate plus 12.5 basis points. 
 At any time
on or after September 17, 2051, the Notes shall be redeemable in whole or in part, at any time, at the Company’s option, on at least 10 days’ but not more than 60 days’ prior notice mailed to the registered address of each Holder
of Notes to be redeemed, at a redemption price (the “Final Redemption Price” and, together with the Make-Whole Redemption Price, the “Redemption Price”) equal to 100% of the principal amount of the Notes to be
redeemed. 
 The Redemption Price for any Notes redeemed pursuant to the two preceding paragraphs shall include accrued and unpaid interest
on the principal amount of such Notes to the Redemption Date. 
 For purposes of calculating the Make-Whole Redemption Price, the following
terms shall have the following specified meanings: 
 “Comparable Treasury Issue” means the United States Treasury security
or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of the Notes (assuming for such purposes that the Notes mature on September 17, 2051). 

  
 A-5 

 “Comparable Treasury Price” means, with respect to any Redemption Date
(A) the arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations or (B) if the Company obtains fewer than four such Reference
Treasury Dealer Quotations, the arithmetic average of all such quotations for such Redemption Date. 
 “Independent Investment
Banker” means one of the Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC or their respective affiliates, which are primary U.S. government securities dealers in the United States of America and their respective successors plus two other primary U.S. government
securities dealers in the United States of America designated by the Company; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States of America (a
“Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer. 
 “Reference
Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date, the arithmetic average, as determined by the Company, of the bid and asked prices for the applicable Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. (New York City time) on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to
maturity or interpolated maturity (on a day count basis) of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such Redemption Date. 
 The provisions of Article XI of the Indenture shall apply to any redemption of the Notes. 

The Notes of this series are not entitled to the benefit of any sinking fund. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Notes of this series or certain restrictive
covenants and Events of Default with respect to such Notes, in each case upon compliance with certain conditions set forth in the Indenture. 

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

  
 A-6 

 
amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of
the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holders of Notes of this series shall be conclusive and binding upon such Holders and upon all future Holders of this Note and of any Note 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 Note. 
 As provided in and subject to the provisions of
the Indenture, the Holders of the Notes of this series shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to the Notes of this series, the Holders of not less than 25% in aggregate principal amount of the Notes of this series at the time Outstanding shall have
made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in aggregate principal
amount of such Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply
to any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, 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 attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes of this
series are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are
exchangeable for a like principal amount of Notes 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. 

  
 A-7 

 Prior to due presentment of this Note 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 Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary. 
 This Note is a Global Security and is subject to the provisions of the Indenture relating to Global
Securities, including the limitations in Section 305 thereof on transfers and exchanges of Global Securities. 
 This Note and the
Indenture shall be governed by, and construed in accordance with, the laws of the State of New York. 
 All terms used in this Note which
are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 A-8 

 EXHIBIT B 

FORM OF 3.041% NOTE DUE 2062 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE REFERRED TO HEREIN AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE
NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

MICROSOFT CORPORATION 

3.041% Notes due 2062 
 CUSIP No.: 594918
CF9 
 ISIN: US594918CF95 
  

			
	No. A-[●]    	  	$[●]

 MICROSOFT CORPORATION, a corporation duly incorporated under the laws of the State of Washington (herein
called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of $[●]
([●] DOLLARS) on March 17, 2061, and to pay interest thereon from March 17, 2021 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on March 17 and September 17
of each year, commencing on September 17, 2021, at the rate of 3.041% per annum, until the principal hereof is paid or made available for payment; provided that any principal and premium, and any such installment of interest, which is

  
 B-1 

 
overdue shall bear interest at the rate of 3.041% per annum (to the extent permitted by applicable law), from the dates such amounts are due until they are paid or made available for payment, and
such interest 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 such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 2 or the September 2 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date.
Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (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 Holders of Notes of this series not less than 10 days prior to
such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in the Indenture. 
 Reference is hereby made to the further provisions of this Note 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 referred to on the reverse hereof by manual or electronic signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 B-2 

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

Dated: March 17, 2021 
  

			
	MICROSOFT CORPORATION
		
	By:	 	  

		 	Name:             
		 	Title:             

  
 B-3 

 This Note is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
 Dated: March 17, 2021 
  

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

    as Trustee

		
	 By: 
	 	      

		 	 Authorized Signatory

  
 B-4 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued under an
Indenture, dated as of May 18, 2009, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, and a fourteenth supplemental indenture relating to such series dated as of March 17, 2021 (herein, collectively 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 Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, such series initially limited in aggregate principal amount to $[●];
provided that the Company may at any time and from time to time, without the consent of any Holder, issue additional Notes of this series. 

The Notes of this series are not redeemable at the option of the Holders. 

At any time prior to September 17, 2061, the Notes shall be redeemable in whole or in part, at any time or from time to time, at the
Company’s option, on at least 10 days’ but not more than 60 days’ prior notice mailed to the registered address of each Holder of Notes to be redeemed, at a redemption price (the “Make-Whole Redemption Price”),
calculated by the Company, equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of each remaining scheduled payment of principal and interest on the Notes to be redeemed
(assuming for such purposes that the Notes mature on September 17, 2061) (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate plus 12.5 basis points. 
 At any
time on or after September 17, 2061, the Notes shall be redeemable in whole or in part, at any time, at the Company’s option, on at least 10 days’ but not more than 60 days’ prior notice mailed to the registered address of
each Holder of Notes to be redeemed, at a redemption price (the “Final Redemption Price” and, together with the Make-Whole Redemption Price, the “Redemption Price”) equal to 100% of the principal amount of the Notes
to be redeemed. 
 The Redemption Price for any Notes redeemed pursuant to the two preceding paragraphs shall include accrued and unpaid
interest on the principal amount of such Notes to the Redemption Date. 
 For purposes of calculating the Make-Whole Redemption Price, the
following terms shall have the following specified meanings: 
 “Comparable Treasury Issue” means the United States
Treasury security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of the Notes (assuming for such purposes that the Notes mature on September 17, 2061). 

  
 B-5 

 “Comparable Treasury Price” means, with respect to any Redemption Date
(A) the arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations or (B) if the Company obtains fewer than four such Reference
Treasury Dealer Quotations, the arithmetic average of all such quotations for such Redemption Date. 
 “Independent Investment
Banker” means one of the Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC or their respective affiliates, which are primary U.S. government securities dealers in the United States of America and their respective successors plus two other primary U.S. government
securities dealers in the United States of America designated by the Company; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States of America (a
“Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer. 
 “Reference
Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date, the arithmetic average, as determined by the Company, of the bid and asked prices for the applicable Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. (New York City time) on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to
maturity or interpolated maturity (on a day count basis) of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such Redemption Date. 
 The provisions of Article XI of the Indenture shall apply to any redemption of the Notes. 

The Notes of this series are not entitled to the benefit of any sinking fund. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Notes of this series or certain restrictive
covenants and Events of Default with respect to such Notes, in each case upon compliance with certain conditions set forth in the Indenture. 

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

  
 B-6 

 
amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of
the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holders of Notes of this series shall be conclusive and binding upon such Holders and upon all future Holders of this Note and of any Note 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 Note. 
 As provided in and subject to the provisions of
the Indenture, the Holders of the Notes of this series shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to the Notes of this series, the Holders of not less than 25% in aggregate principal amount of the Notes of this series at the time Outstanding shall have
made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in aggregate principal
amount of such Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply
to any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, 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 attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes of this
series are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are
exchangeable for a like principal amount of Notes 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. 

  
 B-7 

 Prior to due presentment of this Note 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 Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary. 
 This Note is a Global Security and is subject to the provisions of the Indenture relating to Global
Securities, including the limitations in Section 305 thereof on transfers and exchanges of Global Securities. 
 This Note and the
Indenture shall be governed by, and construed in accordance with, the laws of the State of New York. 
 All terms used in this Note which
are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 B-8ex_231141.htm

 

Exhibit 10.1

 

RESTRICTED STOCK UNIT AGREEMENT

 

INFUSYSTEM HOLDINGS, INC.

2014 EQUITY PLAN

 

Restricted stock units are hereby granted to Carrie Lachance (the “Participant”) by InfuSystem Holdings, Inc., a Delaware corporation (the “Company”) pursuant to this Restricted Stock Unit Agreement (this “Agreement”). The restricted stock units granted pursuant to this Agreement (the “RSUs”) are subject to the terms and conditions of the InfuSystem Holdings, Inc. 2014 Equity Plan, as amended (the “Plan”), the receipt of which is hereby acknowledged by the Participant. Any capitalized terms that are not defined in this Agreement have the meaning set forth in the Plan.

 

	 	
			1.

				
			Number of RSUs. The number of RSUs granted pursuant to this Agreement is 50,000 units (the “Award”).

			

 

	 	
			2.

				
			Grant Date. The date of the grant of the RSUs is March 1, 2021.

			

 

	 	
			3.

				
			Consideration. The Award is made in consideration of the services to be rendered by the Participant to the Company.

			

 

	 	
			4.

				
			Vesting. Except as otherwise provided herein, provided that the Participant remains continuously employed by the Company through the date on which the RSUs vest (the “Vesting Date”), the RSUs will vest in accordance with the following schedule.

			

 

	 	No. of RSUs	Vesting Date	 
	 	50,000	March 1, 2024	 

                      

	 	
			5.

				
			Share Issuance upon Vesting. Each vested RSU will be settled by issuance to the Participant of one (1) share of InfuSystem Common Stock (“Share”) as soon as practicable following the Vesting Date, but in no event later than the close of the quarter in which such vesting occurs. Notwithstanding the foregoing, if the Participant is deemed a “specified employee” within the meaning of Section 409A of the Code, as determined by the Committee, at a time when the Participant becomes eligible for settlement of the vested RSUs upon his “separation from service” within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, settlement of the vested RSUs will be delayed until the earlier of the date that is six months following the Participant’s separation from service or the Participant’s death.

			

 

1

 

 

	 	
			6.

				
			Change in Control. Notwithstanding any of the foregoing, upon the occurrence of a Change in Control (as defined below), any unvested RSUs shall vest as of the date of the Change in Control. Notwithstanding anything herein to the contrary, in the event of a Change in Control (as defined below), the Committee will take or cause to be taken one or more of the following actions to be effective as of the date of the Change in Control:

			

 

	 	
			(a)

				
			provide that the RSUs shall be assumed, or equivalent equity compensation shall be substituted (“Substitute Equity”) by the acquiring or succeeding corporation (or an affiliate thereof), provided that the shares of stock issuable upon the exercise of the Substitute Equity will constitute securities registered in accordance with the Securities Act of 1933, as amended (the “1933 Act”), or such securities will be exempt from such registration in accordance with Sections 3(a)(2) or 3(a)(5) of the 1933 Act (collectively, “Registered Securities”), or in the alternative, if the securities issuable upon the exercise of the Substitute Equity do not constitute Registered Securities, then the Participant will receive upon consummation of the Change in Control transaction a cash payment for the RSUs surrendered equal to the fair market value of the consideration to be received for each Share in the Change in Control transaction times the number of Shares subject to the surrendered RSUs; or

			

 

	 	
			(b)

				
			in the event of a transaction under the terms of which the holders of the Shares of the Company will receive upon consummation thereof a cash payment (the “Merger Price”) for each Share exchanged in the Change in Control transaction, to make or to provide for a cash payment to Participant equal to the Merger Price times the number of Shares under the RSUs.

			

 

For purposes of this Agreement, the term “Change in Control” means: (a) the sale of all or substantially all of the assets of the Company; (b) the merger or recapitalization of the Company whereby the Company is not the surviving entity; or (c) the acquisition, directly or indirectly, of the beneficial ownership (within the meaning of that term as it is used in Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder) of fifty percent (50%) or more of the outstanding voting securities of the Company by any person, trust, entity or group.

 

	 	
			7.

				
			Termination of Service. Should the Participant’s employment cease or terminate for any reason (including death) prior to vesting of any of the RSUs subject to this Agreement, then the Award will be immediately cancelled with respect to those RSUs that remain unvested as of the date of such termination.

			

 

	 	
			8.

				
			Restrictions on Transferability. Until such time as the RSUs are settled in accordance with Section 4 of this Agreement, the RSUs or any rights related thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the RSUs or any rights related thereto will be wholly ineffective and, if any such attempt is made, the RSUs will be forfeited by the Participant and all of the Participant’s rights to the RSUs will immediately terminate without any payment or consideration by the Company.

			

 

2

 

 

	 	
			9.

				
			Rights as a Stockholder and Dividend Equivalents. The Participant will not have any rights of a stockholder with respect to Shares underlying the RSUs (including, without limitation, any voting rights or any right to dividends paid with respect to the Shares underlying the RSUs). The Participant will not be entitled to any dividend equivalents with respect to RSUs to reflect any dividends payable on Shares, except as required to allow for any adjustments to outstanding Shares made pursuant to Section 7 of the Plan.

			

 

 

	 	
			10.

				
			Securities Law Compliance. Notwithstanding anything herein to the contrary, vested RSUs may not be settled for Shares unless such Shares are registered under the Securities Act of 1933, as amended, or, if such Shares are not so registered, the Compensation Committee of the Board has determined that such exercise and issuance would be exempt from the registration requirements of such Act. The settlement of the RSUs for Shares also must comply with other applicable laws and regulations governing the Award, and the Award may not vest if the Company determines that such vesting or settlement would not be in material compliance with such laws and regulations.

			

 

 

	 	
			11.

				
			Withholding. The vesting of any part of the Award constitutes authorization for the Company to withhold from payroll and other amounts due the Participant, including, if elected by the Participant, from the Shares otherwise issuable upon the vesting of the Award, and any amounts required to satisfy any federal, state or local tax withholding obligation that may arise in connection with the Award. The Award may not be exchanged for Shares unless all such tax withholding obligations are satisfied. The Participant may elect to have the Company reduce the number of Shares otherwise issuable by the number of whole Shares, rounded down, with a Market Value equal to or less than the amount of the withholding tax due. The Company will withhold any remaining withholding tax due from other payments owed to the Participant.

			

 

	 	
			12.

				
			Code Section 409A. This Agreement is intended to comply with Code Section 409A or an exemption thereunder and is to be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Code Section 409A. Notwithstanding the foregoing, the Company makes no representation that the payments and benefits provided under this Agreement comply with Section 409A of the Code and the Company will not be liable for all or any portion of any taxes, penalties, interest, or other expenses that may be incurred by the Participant on account of non-compliance with Section 409A of the Code.

			

 

3

 

 

	 	
			13.

				
			RSUs Subject to the Plan. This Agreement is subject to the Plan as approved by the Company’s stockholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail. Notwithstanding anything herein to the contrary, additional conditions or restrictions related to this Award may be contained in the Plan.

			

 

	 	
			14.

				
			Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the RSUs, prospectively or retroactively; provided, that, no such amendment may adversely affect the Participant’s material rights under this Agreement without the Participant’s consent.

			

 

 

	
			 

				
			INFUSYSTEM HOLDINGS, INC.

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			    /s/ Richard A. DiIorio

				
			 

			
	
			 

				
			 

				
			 Name: Richard A. DiIorio

				
			 

			
	
			 

				
			 

				
			 Title: Chief Executive Officer

				
			 

			
	 	 	 	 
	 	 	 	 
	 	 	    /s/ Carrie Lachance	 
	 	 	Carrie Lachance, Participant	 

 

4

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