Document:

Exhibit 4(a)(vii) 

Dated
          June 2009 and
effective as of 11 June 2009

LLOYDS BANKING GROUP PLC

and

THE COMMISSIONERS OF HER MAJESTY’S
TREASURY

RESALE RIGHTS AGREEMENT

Slaughter and May 

One Bunhill Row 

London EC1Y 8YY

(JAYP/PIRD)

CA090540022  

EXECUTION VERSION 

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT, effective as of June 11,2009 (this
“Agreement”) between Lloyds Banking Group Plc, a company incorporated in
Scotland (the “Company’’) and The Commissioners of Her Majesty’s Treasury (the
“Investor”).  

RECITALS

          A.
Ordinary Shares and other Securities. The Investor has purchased
Ordinary Shares and other Securities; 

          B.
Acquisition or subscription of further Securities. It is anticipated
that the Investor will acquire or subscribe for further Securities; and 

          C.
Registration Rights. Pursuant to the terms of the pre accession
commitments given by the Company on March 7,2009 in connection with the asset
protection scheme announced by the Investor on January 19,2009 and the Placing
and Open Offer Agreement between the parties dated March 7,2009, as amended and
restated on March 20,2009 and May 18,2009 (the “Placing and Open Offer Agreement”), the parties hereto wish to
enter into this Agreement, which amends, restates and replaces in its entirety
the Registration Rights Agreement between the parties dated as of January 12,
2009. 

          NOW, THEREFORE, in consideration of the
premises and of the representations, warranties, covenants and agreements set
forth herein, the parties agree as follows: 

ARTICLE I

GENERAL

1.1. Definitions. As used in
this Agreement, the following terms shall have the following respective
meanings:  

          “Amended Shelf Registration Statement” has
the meaning ascribed to it in Section 2.l(d). 

          “ADSs” means American Depositary Shares of
the Company, each representing 20 Ordinary Shares. 

          “Board of Directors” has the meaning
ascribed to it in Section 2.2(b). 

          “Close Period” means any close period as
defined in Annex I to Chapter 9 of the Listing Rules made by the UK Financial Services Authority pursuant to Part
V1 of the Financial Services and Markets Act
2000 in relation to the Company. 

          “Earliest Demand Registration Date” means
July 22,2009. 

          “Exchange Act” means the Securities
Exchange Act of 1934, as amended, or similar federal statute, and the rules and
regulations of the Commission thereunder, all as the same shall be in effect at
the time. 

          “Holder” means the Investor and any other holder
of Registrable Securities to whom the registration rights conferred by this
Agreement have been transferred in compliance with Section 2.10 hereof. 

          “Holders’ Counsel” means one counsel for
the Investor or selling Holders chosen by (i) Holders holding a majority
interest in the Registrable Securities being registered, or (ii) agreement
between them. 

          “Holder Shares” means (i) any Securities of
the Company acquired, subscribed for or held by a Holder from time to time and
(ii) any Securities issued or issuable with respect to or in exchange or
replacement for any such Securities. 

          “Initiating Holder” has the meaning
ascribed to it in Section 2.l(a). 

          “Notice of Demand” has the meaning ascribed
to it in Section 2.l(a). 

          “Other Shareholder” has the meaning
ascribed to it in Section 2.2(c). 

          “Ordinary Shares” means ordinary shares of
25 pence each (or such other nominal amount resulting from any merger,
consolidation, share exchange, sub-division, reorganization, recapitalization
or similar transaction resulting in a change in the nominal amount of the
ordinary shares) in the capital of the Company, and includes ADSs. 

          “Person” means any individual, corporation,
partnership, joint venture, wholly owned (whether directly or indirectly)
entity, limited liability company, business trust, joint stock company, trust
or unincorporated organization or any government or any agency or political
subdivision thereof. 

          “Permitted Registration Rights” has the
meaning ascribed to it in Section 2.13(a). 

          “Piggyback Registration” has the meaning
ascribed to it in Section 2.2(a). 

          “Placing and Open Offer Agreement” has the
meaning ascribed to it in Recital C. 

          “Register,” “registered,” and “registration” shall refer to a
registration effected by preparing and (a) filing a registration statement in
compliance with the Securities Act and applicable rules and regulations
thereunder, and the declaration or ordering of effectiveness of such
registration statement or (b)
filing a prospectus and/or
prospectus supplement in respect of an appropriate effective registration
statement on Form F-3 (or any successor form). 

          “Registrable Securities” means any Holder
Shares, including any Holder Shares required to be registered in connection
with an offering or sale of Related Securities by any Holder. As to any
particular Registrable Securities, once issued, such securities shall cease to
be Registrable Securities when (i) they are sold pursuant to an effective
registration statement under the Securities Act, (ii) they are sold pursuant to
Rule 144 under the Securities Act, (iii) they shall
have ceased to be outstanding or (iv) they have been sold, distributed or
otherwise transferred in a transaction (including a sale over the London Stock
Exchange or any other stock exchange on which the Company’s Securities are
listed) in which the transferor’s rights under this Agreement are not assigned,
transferred or novated to the transferee of the Registrable Securities. No 

2

Registrable Securities may
be registered under more than one registration statement at any one time. 

          “Registration Expenses” means all expenses
incurred by the Company or any Holder in effecting any registration pursuant to
this Agreement, including, without limitation, all registration and filing
fees, printing expenses, fees and disbursements of counsel for the Company,
blue sky fees and expenses, fees and disbursements of Holders’ Counsel, and expenses
of the Company’s independent accountants in connection with any regular
or special reviews or audits incidental to or required by any such registration,
but shall not include (a) Selling Expenses and (b) the compensation of regular
employees of the Company, which shall be paid in any event by the Company. 

          “Related Securities” means any securities
of any description called by a Holder to be issued by any Person from time to
time and which are exchangeable for, convertible into, give rights over or
otherwise reference any Holder Shares. 

          “Relevant Shares” has the meaning ascribed
to it in the Resale Rights Agreement. 

          “Resale Rights Agreement” means the
agreement between the Investor and the Company effective as of the date hereof,
in respect of the resale of Securities. 

          “SEC” or “Commission” means the U.S.
Securities and Exchange Commission and any successor agency. 

          “Securities” means the Ordinary Shares and
any shares in the capital of the Company and other securities of any description
(including convertible or exchangeable securities) issued by the Company from time to time. 

          “Securities Act” shall mean the Securities
Act of 1933, as amended, or similar federal statute, and the rules and regulations
of the Commission thereunder, all as the same shall be in effect at the time. 

          “Selling Expenses” means all underwriting
discounts, selling commissions and stock transfer taxes applicable to the sale
of Registrable Securities and the fees and expenses of any Holder’s financial
advisers. 

          “Third Party Transferee” has the meaning
ascribed to in Section 2.10(a). 

          “Wholly Owned Entity” has the meaning
ascribed to it in Section 2.10(a). 

ARTICLE II

REGISTRATION

2.1. Demand Registration.

          (a)
Subject to the conditions of this Section 2.1, if at any time the Company shall
receive a written request from
a Holder (the “Initiating Holder”) that the Company
register under the Securities Act Registrable Securities, which request shall
include confirmation that 

3

the amount of Registrable
Securities proposed to be sold would cause the condition in Section 2.l(c)(ii)
to be satisfied and the intended method of distribution thereof (a “Notice of Demand”),
then the Company shall, subject to the limitations of this Section 2.1, effect,
as promptly as reasonably
practicable, the registration under the Securities Act of all Registrable
Securities that the Initiating Holder requests to be registered. 

          (b)
If the Initiating Holder
intends to distribute the Registrable Securities covered by its Notice of
Demand by means of an underwritten offering, (1) it shall so advise the Company
as a part of its Notice of Demand made pursuant to this
Section 2.1 and (2) it shall have the right, following
consultation with the Company to appoint a managing underwriter or underwriters
and/or bookrunners of recognized international standing, provided that to
the extent appropriate and permitted under applicable law, such Initiating
Holder shall consider the qualifications of any broker-dealer affiliate of the
Company in selecting the managing underwriters in any such distribution. 

          (c)
The Company shall not be required to effect a registration pursuant to this
Section 2.1: 

                    (i)
prior to the Earliest Demand Registration Date; 

                    (ii)
unless (a) the anticipated aggregate offering price to the public in the United
States exceeds $100,000,000; or (b) the anticipated
aggregate offering price to the public (aggregated to include sales within the
United States and outside the United States) exceeds $200,000,000 and either
(i) the proposed registration is intended in order to effect offers and sales
of Registrable Securities to employees of the Company or (ii) in the reasonable
belief of the Initiating Holder as stated in the Notice of Demand such
registration is justified in the context of an offering made pursuant to the
Resale Rights Agreement; provided, however, that if the
Registrable Securities which are subject to a proposed registration constitute
all the Registrable Securities of that class held by the Initiating Holder at
that time, the Company shall be required to effect the registration for all
such Registrable Securities, notwithstanding the provisions of 2. l (c)(ii)(a)
and 2.l(c)(ii)(b) above; 

                    (iii)
more than four (4) times
in any twelve (12) month period; provided that for the purposes of
complying with this Section 2.l(c)(iii), (a) each of such registrations shall
have been declared or ordered effective and kept effective by the Company as
required by Section 2.5(a) of this Agreement, (b) any registrations
declared or ordered effective contemporaneously shall be deemed to be the same
registration, and (c) for so long as the Investor or a Wholly Owned Entity is
a Holder, the prior written consent of the Investor shall be required in order
to effect a registration pursuant to any Notice of Demand by a Third Party
Transferee. 

                    (iv)
subject to Section 2.2, with respect to a registration of Registrable
Securities during the period starting with the date thirty (30) calendar days
prior to the Company’s good faith estimate of the launch date of, and ending on
a date ninety (90) calendar days after the closing date of, a Company-initiated
registered offering of Securities; provided that (a) the Company is
actively employing in good faith all reasonable best efforts to launch such
registered offering and (b)
the Company notifies the
Initiating Holder of any proposed Company- 

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initiated registered
offering of Securities within such timescale as soon as possible following its
receipt of the relevant Notice of Demand; 

                    (v)
during any Close Period,
in which event the Company shall have the right to defer the filing of a
registration statement (but not the preparation of any registration statement
    or the provision of assistance with customary confirmatory due diligence
    in relation to any registration) until the earlier of the end of such Close
    Period and the date falling forty-five (45)
calendar days after receipt of
Notice of Demand; 

                    (vi)
if the Company notifies the Initiating Holder that it anticipates, in good
faith and in its reasonable business judgment, announcing a corporate
transaction or event or state of affairs within thirty (30) calendar days of
the date of the Notice of Demand which announcement, in the reasonable good
faith business judgment of the Company, is or would be material in the context
of the Company and does or would interfere with the registration referred to
    in the Notice of Demand. in which case the Company shall have the right to
    defer the filing of a registration statement (but not the
preparation of any registration statement or the provision of assistance with
customary confirmatory due diligence in relation to any registration) for a
period of not more than thirty (30) calendar days after receipt of the Notice
    of Demand; provided that: (a)
the Company is actively employing in good faith all reasonable endeavors to
make such announcement as soon as practicable; (b)the Company notifies the
Initiating Holder of any such anticipated announcement as soon as practicable
following its receipt of the relevant Notice of Demand; (c) the Company keeps
the Initiating Holder regularly updated as to the date on which such
announcement is anticipated to be made and, in particular, informs the
Initiating Holder without delay if the Company no longer proposes to make the
anticipated announcement (in which case the restrictions in this Section 2.l(c)(vi)
shall cease to apply); and (d) such right to defer a filing may not be
exercised by the Company more than two (2) times in any twelve (12) month
period and in any case for not more than thirty (30) calendar days in the aggregate in any twelve
(12) month period. 

          (d)
One registration pursuant to this Section 2.1 may be required by a Holder to
    be effected by means of a shelf registration statement (a “Shelf Registration
Statement”) relating to any
or all of the Registrable Securities in accordance with the methods and
distribution set forth in the Shelf Registration Statement and Rule 415 under
the Securities Act. The Company shall use its reasonable best efforts to cause
any Shelf Registration Statement to remain effective, except during the periods
described in Section 2.6, including by filing extensions of the Shelf
Registration Statement; provided that (i) no provision of this Agreement
shall prevent the Company from fulfilling its obligations under this Section
2.l(d) by amending the Company’s shelf registration statement on Form F-3 to allow the offer and sale of Registrable Securities (an “Amended
Shelf Registration Statement”) and (ii) during any time when a Shelf
Registration Statement (including an Amended Shelf Registration Statement) is effective, the Company’s
obligations to effect the registration of Registrable Securities pursuant to
Section 2.l(a) shall be deemed satisfied, and any underwritten offering of
securities carried out pursuant to this Section 2.1 shall be effected by way of
an offering under the Shelf Registration Statement (including an Amended Shelf
Registration Statement) and otherwise in accordance with the terms,
requirements and limitations set forth in this Agreement.  

          (e)
The Company acknowledges and accepts that a Notice of Demand does not indicate
or give rise to any commitment on the part of a Holder to proceed with an
offering or 

5

sale of Registrable
Securities, nor is it intended to give any binding indication of the number of
Registrable Securities which may be offered or sold or the terms, pricing or
timing of any offering or sale of Registrable Securities. 

2.2. Right to Piggyback.  

          (a)
Whenever the Company proposes to register any of its Securities under the
Securities Act (except (a) in the case of a routine offering or sale by the
Company of a class of debt securities not previously issued to any Holder,
under the terms of a customary debt issuance program, (including pursuant to
    a registration statement on Form F-3 or any successor thereto), (b) for any
    registration of Securities for offering and sale to employees or directors
    of the Company pursuant to any employee stock plan or other employee benefit
    plan arrangement, including pursuant to a registration statement on Form
    S-8 or any successor thereto, (c) pursuant to a demand registration effected
    in accordance with Section 2.1 or (d) for any registration of Securities
    on Form F-4 or any successor thereto and other than solely pursuant to a
    registration statement on Form F-6), the Company shall (i) as soon as practicable
    (but in no event less than thirty (30) calendar days prior to the proposed
    date of filing of the related registration statement), give written notice
    to the Holders of its intention to effect such a registration; and (ii) shall
    register under such registration statement (X) all Registrable Securities
    of the same class as the Securities the Company proposes to register and
    (y) any Related Securities in respect of which the Holder Shares are Securities
    of the same class as the Securities the Company proposes to register (in
    accordance with the priorities set forth in subsections (b) and (c) below)
    with respect to which the Company shall have received written requests therefor
    within fifteen (15) calendar days after delivery of the Company’s notice (each such registration, a
“Piggyback Registration”).  

          (b)
If a Piggyback
Registration is an underwritten primary registration on behalf of the Company
and the managing underwriters advise the Board of Directors of the Company
(“the Board of Directors”) in writing that in their opinion the total number of
Securities (including the Registrable Securities of the same class as the Securities the Company proposes to register and any Related
Securities in respect of which
the Holder Shares are Securities of the same class as the Securities the
Company proposes to register) requested to be included in the registration
would prevent the underwriters from completing such offering, then the Company
shall promptly provide the Holders with a copy of such advice and consult with the Holders with respect to such
advice, and after such consultation shall include in such registration only
such number of Securities (including the Registrable Securities of the same
class as the Securities the Company proposes to register and any Related
Securities in respect of which the Holder Shares are Securities of the same
class as the Securities the Company proposes to register), if any, which the
managing underwriters determine can be sold in such offering without preventing
the underwriters from completing such offering. The Company shall include in
such Piggyback Registration (i) first, 100% of the Securities that the Company
proposes to sell as part of its initial registration and (ii) second, if the
Holders participate in such registration, 100% of the Registrable Securities
(of the same class as the Securities the Company proposes to register and any
Related Securities in respect of which the Holder Shares are Securities of the
same class as the Securities the Company proposes to register) that the Holders
propose to sell, or such lesser amount determined by the managing underwriters
pursuant to the preceding sentence, which shall be allocated pro rata between
the participating Holders on the basis of the number of such Registrable
Securities owned by each such person.  

6

          (c)
If a Piggyback Registration is an underwritten secondary registration on behalf
of any Person other than a Holder (the “Other Shareholder”) who has Permitted
Registration Rights and the managing underwriters advise the Board of Directors
in writing that in their opinion the total number of Securities (including the
Registrable Securities of the same class as the Securities such Other
Shareholder proposes to register and any Related Securities in respect of which
the Holder Shares are Securities of the same class as the Securities such Other
Shareholder proposes to register) requested to be included in the registration
would prevent the underwriters from completing such offering, then the Company
shall promptly provide the Holders with a copy of such advice and consult with
the Holders with respect to such advice, and after such consultation shall
include in such registration only such number of Securities (including the
Registrable Securities of the same class as the Securities such Other
Shareholder proposes to register and any Related Securities in respect of which
the Holder Shares are Securities of the same class as the Securities such Other
Shareholder proposes to register) which the managing underwriters determine can
be sold in such offering without preventing the underwriters from completing
such offering. The Company shall include in such registration (i) first, 100% of the Registrable Securities (of
the same class as the Securities
such Other Shareholder proposes to register and any Related Securities in
respect of which the Holder Shares are Securities of the same class as the
Securities such Other Shareholder proposes to register) that the Holders
propose to sell and, 100% of Securities that such Other Shareholder proposes to
sell, allocated, if necessary, pro rata between the Holders and such Other
Shareholder on the basis of the number of such Registrable Securities owned by
each such person; and (ii) second, only if all the Securities referred to in
clause (i) have been included, any other Securities requested to be included
therein that the managing underwriters have determined can be included pursuant
to the preceding sentence.  

          (d)
If a Piggyback Registration involves an underwritten primary registration on
behalf of the Company or any Other Shareholder with Permitted Registration
Rights, the managing underwriter or underwriters thereof shall be selected by
the Company, provided, however, that (i) such managing underwriter or
underwriters shall be of recognized international standing, (ii) the Company
shall consult with the Investor prior to agreeing upon any fees, discounts or
other amounts payable to such managing underwriter or underwriters and (iii) if
the aggregate amount of Registrable Securities included by Holders in the
underwritten offering for such Piggyback Registration exceeds 15% of the total
amount of Securities to be included in such underwritten primary offering by
the Company or such Other Shareholder, as applicable, such Holders shall be
entitled to select an additional managing underwriter to act as a joint
bookrunner. 

          (e)
The Company will use its reasonable best efforts not to register any of its
Securities for sale for its own account (other than Securities issued to
employees of the Company under an employee benefit plan or Securities issued to
effect a business combination pursuant to Rule 145 promulgated under the
Securities Act) except as a firm commitment underwriting. 

          (f)
No registration or
designation of Registrable Securities effected pursuant to a request under this
Section 2.2 shall be deemed to have been effected pursuant to Section 2.1 or shall relieve the Company of its obligations under Section 2.1. 

2.3. Piggyback Rights in
Respect of a Demand Registration. 

7

          (a)
If an Initiating Holder has made a Notice of Demand pursuant to Section 2.1,
the Company shall give written notice to each Holder (other than the Initiating
Holder) at least thirty (30) calendar days prior to the initial filing of a
demand registration statement filed pursuant to Section 2.1 informing such Holder of its intent to file
such demand registration statement and of such Holder’s rights under this
Section 2.3 to request, as part of such demand registration, the registration
of the Registrable Securities held by such Holder. Upon written request of any
Holder made within fifteen (15) calendar days after any such notice is given
(which request must include the amount of Registrable Securities proposed to be
sold by such Holder), then the Company shall effect, as promptly as reasonably
practicable, the registration under the Securities Act of all Registrable
Securities (of the same class as the Securities such Initiating Holder proposes
to register and any Related Securities in respect of which the Holder Shares
are Securities of the same class as the Securities such Initiating Holder
proposes to register) that such Holder requests to be registered (in accordance
with the priorities set forth in subsection (b) below). 

          (b)
If a demand registration made pursuant to Section 2.1 is (i) an underwritten
registration initiated by the Investor as an Initiating Holder or is an
underwritten registration in
which the Investor shall
participate by exercise of its rights under Section. 2.3(a) and (ii) other
Holders shall have given notice of the exercise of their rights pursuant to
Section 2.3(a) in respect of such underwritten registration, and the managing
underwriters advise representatives of the Investor that in their opinion the
total number of shares of such Registrable Securities requested to be included
in the registration would prevent the underwriters from completing such
offering, then the Investor shall promptly provide the other Holders with a
copy of such advice and consult with the other Holders with respect to such
advice, and after such consultation shall communicate such advice to the
Company. The Company shall include in such registration (i) first, 100% of the
Registrable Securities that the Investor proposes to sell as part of its
initial registration and (ii) second, if any other Holders participate in such
registration, and only if all Securities referred to in clause (i) have been
included, 100% of the Registrable Securities (of the same class as the Securities such Initiating Holder proposes to register and any
Related Securities in respect of which the Holder Shares are Securities of the
same class as the Securities such Initiating Holder proposes to register )that
such other Holders propose to sell, or such lesser amount determined by the
managing underwriters pursuant to the preceding sentence which shall be
allocated pro rata between the participating Holders on the basis of the number
of such Registrable Securities owned by each such person. 

2.4. Expenses of
Registration. 

          (a)
Except as specifically provided herein, all Registration Expenses incurred in
connection with any registration, qualification or compliance hereunder shall
be borne by the Company. All Selling Expenses incurred in connection with any
underwritten offering made in accordance with the terms set forth herein shall be borne by the
Company and the Holders pro rata on the basis of the number of Registrable
Securities of each party to be registered and sold under the applicable
registration statement. 

          (b)
The Company shall not,
however, be required to pay for expenses of any registration proceeding begun
pursuant to Section 2.1, the request of which has been subsequently withdrawn
by the Investor or requesting Holder(s) unless (i) the withdrawal is based upon
(a) any fact, circumstance, event, change, effect or occurrence that
individually or 

8

in the aggregate with all
other facts or circumstances, events, changes, effects or occurrences has a
material adverse effect on the Company, or (b) material adverse information concerning the Company that the Company
had not publicly revealed at least forty-eight (48) hours prior to the request
or that the Company had not otherwise notified the Investor or requesting
Holders of at the time of such request or (ii) the Investor or the Holders of a
majority of Registrable Securities, as the case may be, agree to forfeit their
right to one requested registration pursuant to Section 2.1, as applicable, in which event such right shall be forfeited by all Holders. 

          (c)
If the Investor and/or the Holders are required to pay Registration Expenses,
such expenses shall be borne by the Investor or the Holders of Registrable Securities
requesting such registration in proportion to the number of Registrable
Securities for which registration was requested. If the Company is required to
pay the Registration Expenses of a withdrawn offering pursuant to clause (b)(i)
above, then the Investor or the Holders, as the case may be, shall not forfeit
their rights pursuant to Section 2.1. 

2.5. Obligations of the Company. Whenever required to effect the
registration of any Registrable Securities, the Company shall, as expeditiously
as reasonably practicable: 

          (a)
Prepare and file with the SEC not later than forty-five (45) calendar days
after the request a registration statement with respect to such Registrable
Securities and use its reasonable best efforts to cause such registration statement
to become effective, or prepare and file with the SEC a prospectus supplement
with respect to such Registrable Securities pursuant to an effective
registration statement and, upon the request of Holders of a majority of the
Registrable Securities registered thereunder, keep such registration statement
effective or such prospectus supplement current, for up to one hundred and
twenty (120) calendar days other than a registration statement required by a
Holder to be effected by means of a Shelf Registration Statement or Amended
Shelf Registration Statement pursuant to Section 2.l(d) or, if earlier, until
the Holder or Holders have completed the distribution related thereto; provided
that before filing a registration statement or prospectus, or filing any
amendment thereof or supplement thereto, the Company shall furnish copies of
all such documents proposed to be filed to Holders’ Counsel. 

          (b)
Prepare and file with the
SEC such amendments and supplements to the applicable registration statement
and the prospectus or prospectus supplement used in connection with such
registration statement as may be necessary to comply with the provisions of the
Securities Act with respect to the disposition of all Securities covered by
such registration statement for the period set forth in paragraph (a) above. 

          (c)
Furnish to the Holders such number of copies of the applicable registration
statement and each such amendment and supplement thereto (including in each
case all exhibits) and of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other
documents as they may reasonably request in order to facilitate the disposition
of Registrable Securities owned by them. 

          (d)
Use its reasonable best efforts to register and qualify the Securities covered
by such registration statement under such other securities or Blue Sky laws of
such jurisdictions within the United States as shall be reasonably requested by
the Holders, to keep such registration or qualification in effect for so long
as such registration statement remains in effect, 

9

and to take any other action
which may be reasonably necessary to enable such seller to consummate the
disposition in such jurisdictions within the United States of the Securities
owned by such Holder; provided that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business or to
file a general consent to service of process in any such states or jurisdictions
within the United States.  

          (e)
Enter into customary agreements (including if the method of distribution is by
means of an underwriting and/or if a bookrunner or bookrunners are to be
appointed by a Holder in relation to any Registrable Securities, a customary
underwriting and/or bookrunners’ agreement in form and substance reasonably
satisfactory to the Holders with the managing underwriter or underwriters and/or
bookrunners (as the case may be) of such offering; provided that such
underwriting and/or bookrunners’ agreement shall incorporate customary
protections given to underwriters and/or bookrunners (as the case may be) by
issuers for the type of securities offering contemplated, including customary
warranties and covenants given in favor of, and indemnification of, such
underwriters and/or bookrunners (as the case may be) by the Company in form and
substance satisfactory to the Company, acting reasonably; and provided, further, that the Company shall
consult with the Investor prior to agreeing upon any fees, discounts or other
amounts payable to such managing underwriter or underwriters and/or bookrunners
(as the case may be)), take such other actions (including participating in and
making documents available for the due diligence review of underwriters and/or
bookrunners if the method of distribution is by means of an underwriting and/or
if a bookrunner or bookrunners are to be appointed) in accordance with
customary market practice and make available appropriate members of management
of the Company for assistance reasonably required in the selling effort
relating to the Registrable Securities, including, but not limited to,
participation in “road shows” to the extent customary in order to facilitate
the disposition of such Registrable Securities. Each Holder participating in
such distribution shall also enter into and perform its obligations under such
underwriting and/or bookrunners’ agreement; provided, however,
that no Holder shall be required to make any representations or warranties to
or agreements with the Company or any underwriters and/or bookrunners (as the
case may be) in connection with any registration statement other than such
customary representations, warranties or agreements of a selling shareholder
regarding such Holder, such Holder’s title to the Registrable Securities, such
Holder’s intended method or methods of distribution and any other
representation, warranty or agreement required by law. 

          (f)
Notify each Holder of
Registrable Securities 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 applicable 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
in light of the circumstances then existing. 

          (g)
Furnish, on the date that such Registrable Securities are delivered to the
underwriters for sale, if such securities are being sold through underwriters,
(i) an opinion, dated as of such date, of outside legal counsel representing
the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, (ii) a
letter dated as of such date, from the independent registered public
accountants of the Company, in form and substance as is customarily given by
independent registered public accountants to underwriters in an 

10

underwritten public offering
addressed to the underwriters and (iii) such other customary documents,
certificates, resolutions or agreements as may reasonably be required by the
underwriters. 

	
  

 	
  

 	
  

 	
  

 
	
  

 	
 (h)

 	
 Give written notice to the
 Holders: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (i)

 	
 when any registration
 statement filed at the request of a Holder pursuant to Section 2.1 or any
 amendment thereto has been filed with the SEC (except any amendment effected
 by the filing of a document with the SEC pursuant to the Exchange Act) and
 when such registration statement or any post-effective amendment thereto has
 become effective; 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (ii)

 	
 of any request by the SEC
 for amendments or supplements to any registration statement filed at the
 request of the Investor pursuant to Section 2 or the prospectus included
 therein or for additional information; 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (iii)

 	
 of the issuance by the SEC
 of any stop order suspending the effectiveness of any registration statement
 filed at the request of the Investor pursuant to Section 2 the initiation of
 any proceedings for that purpose; 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (iv)

 	
 of the receipt by the
 Company or its legal counsel of any notification with respect to the
 suspension of the qualification of the Securities for sale in any
 jurisdiction or the initiation or threatening of any proceeding for such
 purpose; and 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (v)

 	
 of the happening of any
 event that requires the Company to make changes in any effective registration
 statement filed at the request of a Holder pursuant to Section 2 or the
 prospectus related to the registration statement in order to make the
 statements therein not misleading (which notice shall be accompanied by an
 instruction to suspend the use of the prospectus until the requisite changes
 have been made). 

 

          (i)
Use its reasonable best efforts to prevent the issuance or obtain the
withdrawal of any order suspending the effectiveness of any registration statement referred to in Section
2.5(h)(iii) at the earliest practicable time. 

          (j)
Upon the occurrence of
any event contemplated by Section 2.5(h)(v) above, promptly prepare a
post-effective amendment to such registration statement or a supplement to the
related prospectus or file any other required document so that, as thereafter
delivered to the Holders, the prospectus will not contain an untrue statement
of a material fact or omit to state any material fact necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading. If the Company notifies the Holders in accordance with Section
2.5(h)(v) above to suspend the use of the prospectus until the requisite
changes to the 

11

prospectus have been made,
then the Holders shall suspend use of such prospectus and use their reasonable
best efforts to return to the Company all copies of such prospectus (at the
Company’s expense) other than permanent file copies then in such Holder’s
possession, and the period of effectiveness of such registration statement
provided for above shall be extended by the number of days from and including the
date of the giving of such notice to the date Holders shall have received such
amended or supplemented prospectus pursuant to this Section 2.50’). 

          (k)
Provide a transfer agent and registrar for purposes of settling any offering or
sale of Registrable Securities, including with respect to the transfer of
physical stock certificates into book-entry form in accordance with any
procedures reasonably requested by the Holders or the underwriters. 

          (1)
Use its reasonable best efforts to cause all Registrable Securities to be
listed, on or prior to the effective date of any registration statement, on
each securities exchange or national market on which similar Securities issued
by the Company are then listed. 

          (m)
On or prior to the effective date of any registration statement, to take all
steps reasonably necessary to permit the deposit of all Registrable Securities
that are not then held in the form of ADSs into such depositary receipt
facility as the Company may then sponsor, and to prepare and file with the SEC
any amendment to an existing registration statement on Form F- 6, if necessary, to cover any ADSs held by any Holder or that will be held
by any purchaser of Registrable Securities to be sold under any registration
statement, it being understood that any customary fees, charges and taxes
payable in connection with any deposit of Registrable Securities into a deposit
agreement then sponsored by the Company shall be borne by the Holders pro rata
on the basis of the number of Registrable Securities of each Holder to be
deposited in accordance with this Section 2.5(m). 

          (n)
Cooperate as reasonably required with each Holder and each underwriter and
their counsel, if Registrable Securities are being sold through underwriters,
in connection with any filings required to made with the Financial Industry
Regulatory Authority. 

2.6. Suspension of Sales:
Effectiveness of Registration Statements. 

          (a)
Upon receipt of written notice from the Company that a registration statement,
prospectus or prospectus supplement contains or may contain 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 or that
circumstances exist that make inadvisable use of such registration statement,
prospectus or prospectus supplement, each Holder of Registrable Securities
shall forthwith discontinue disposition of Registrable Securities until such
Holder has received copies of a supplemented or amended prospectus or
prospectus supplement, or until such Holder is advised in writing by the
Company that the use of the prospectus and, if applicable, prospectus
supplement may be resumed, and, if so directed by the Company, such Holder
shall deliver to the Company (at the Company’s expense) all copies, other than
permanent file copies then in such Holder’s possession, of the prospectus and,
if applicable, prospectus supplement covering such Registrable Securities
current at the time of receipt of such notice. The total number of days that
any such suspension may be in effect in any twelve (12) month period shall not
exceed the excess of forty-five (45) calendar days over
the number 

12

of days in such twelve-month
period that the Company has delayed effecting a registration in reliance on
Section 2.l(c)(iii). 

          (b)
A registration statement filed pursuant to this Section 2 shall be deemed not
to have become effective (and the related registration shall be deemed not to
have been effected) unless it has been declared effective by the SEC; provided,
however, that if, after it has been declared effective, the offering of
any Registrable Securities pursuant to such registration statement is
interfered with by any stop order, injunction or other order or requirement of
the SEC or any other governmental agency or court (other than any such stop
order or injunction issued as a result of the inclusion in such registration
statement of any information supplied to the Company for inclusion therein by
the Investor and/or the Holders) that is not subsequently remedied, such
registration statement shall be deemed not to have become effective; provided,
further, however, if any such stop order, injunction or other order or
requirement of the SEC or any other governmental agency or court is
subsequently remedied, such registration statement shall be deemed not to have
been effective during the period of such interference.  

2.7. Termination of
Registration Rights. The registration rights granted under this Article II
shall terminate with respect to any Holder as of the last day of the first
calendar month in which the sum of the Registrable Securities held by such
Holder (including any Registrable Securities issuable upon exchange of other
securities held by such Holder) may be sold in a single transaction without
registration pursuant to Rule 144 under the Securities
Act without volume limitation or other restrictions on transfer thereunder. 

2.8. Furnishing Information.

          (a)
Neither the Investor nor any Holder shall use any “free writing prospectus” (as
defined in Rule 405 under the Securities Act) in connection with the sale of
Registrable Securities without the prior written consent of the Company, which
consent shall not be unreasonably withheld or delayed. 

          (b)
The Investor and/or Holders agree to furnish to the Company such customary
information regarding themselves, the Registrable Securities held by them and
the intended method of disposition of such securities as shall be required to
effect the registration of their Registrable Securities. 

2.9. Indemnification.

          (a)
The Company agrees to indemnify and hold harmless each Holder and, if a Holder
is a person other than an individual, such Holder’s officers, directors,
employees, agents, representatives and affiliates (which in the case of the
Investor, means any governmental or quasi-governmental entity or Wholly Owned
Entity), and each person or entity, if any, that controls a Holder within the
meaning of the Securities Act (each, an “Indemnitee”), against any and all
losses, claims, penalties, damages, actions, liabilities, costs and expenses
(including without limitation reasonable fees, expenses and disbursements of
attorneys and other professionals), joint or several, arising out of or based
upon any untrue or alleged untrue statement of material fact contained in any
registration statement, including any preliminary prospectus or final
prospectus contained therein or any amendments or supplements thereto or
contained in any “free writing prospectus” (as such term is defined in Rule 405
under  

13

the Securities Act) prepared
by the Company or authorized by it in writing for use by such Holder (or any
amendment or supplement thereto); or any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading; provided, that the Company shall not be liable to such
Indemnitee in any such case to the extent that any such loss, claim, penalty,
damage, liability (or action or proceeding in respect thereof), cost or expense
arises out of or is (i) based upon an untrue statement or alleged untrue
statement or omission or alleged omission made in such registration statement,
including any such preliminary prospectus or final prospectus contained therein
or any such amendments or supplements thereto or contained in any “free writing
prospectus” (as such term is defined in Rule 405 under the Securities Act)
prepared by the Company or authorized by it in writing for use by such Holder
(or any amendment or supplement thereto), in reliance upon and in conformity
with information regarding such Indemnitee or its plan of distribution or
ownership interests which was furnished in writing to the Company for use in
connection with such registration statement, including any such preliminary
prospectus or final prospectus contained therein or any such amendments or
supplements thereto; (ii) based upon offers or sales effected by or on behalf
such Indemnitee “by means of’ (as defined in Securities Act Rule 159A) a “free
writing prospectus” (as defined in Securities Act Rule 405) that was not
authorized in writing by the Company; (iii) finally judicially determined to
have arisen as a result of the fraud, bad faith or willful default of such
Indemnitee; or (iv) based upon a decline in market value of the Holder Shares
or, as the case may be, Related Securities or is incurred by such Indemnitee as
a result of any offering or sale of Registrable Securities pursuant to this
Agreement, except to the extent such decline is caused by or results from or is
attributable to or would not have arisen but for (in each case directly or
indirectly) the neglect or default of the Company in relation to the content,
publication, issue or distribution of any prospectus or any amendments or
supplements thereto or any Company-authorized “free writing prospectus” ( as defined in Securities Act Rule 405) or any breach by the Company of
any of its obligations under this Agreement. 

          (b)
If the indemnification
provided for in Section 2.9(a) is unavailable to an Indemnitee with respect to
any losses, claims, damages, actions, liabilities, costs or expenses referred
to therein or is insufficient to hold the Indemnitee harmless as contemplated
therein, then the Company, in lieu of indemnifying such Indemnitee, shall
contribute to the amount paid or payable by such Indemnitee as a result of such
losses, claims, damages, actions, liabilities, costs or expenses in such
proportion as is appropriate to reflect the relative fault of the Indemnitee,
on the one hand, and the Company, on the other hand, in connection with the
statements or omissions which resulted in such losses, claims, damages,
actions, liabilities, costs or expenses as well as any other relevant equitable
considerations. The relative fault of the Company, on the one hand, and of the
Indemnitee, on the other hand, shall be determined by reference to, among other
factors, whether the untrue or alleged untrue statement of a material fact or
omission to state a material fact relates to information supplied by the
Company or by the Indemnitee and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission; the Company and each Holder aged that it would not be just and
equitable if contribution pursuant to this Section 2.9(b) were determined by
pro rata allocation or by any other method of allocation that does not take
account of the equitable considerations referred to in Section 2.9(a).
Notwithstanding the provisions of this Section 2.9, in connection with any
registration statement filed by the Company, no Indemnitee shall be required to
contribute any amount in excess of the net proceeds received by such Indemnitee
from the sale of Registrable Securities registered under 

14

such registration statement.
No Indemnitee guilty of fraudulent misrepresentation (within the meaning of
Section 1 l(ff of the Securities Act) shall be entitled to contribution from
the Company if the Company was not guilty of such fraudulent misrepresentation.

	
  

 	
  

 	
  

 	
  

 
	
  

 	
 (c) 

 	
 Each Indemnitee shall:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (i)

 	
 give notice as promptly as
 reasonably practicable to the Company of any action commenced against it
 after receipt of a written notice of any claim or the commencement of any
 action, claim, suit, investigation or proceeding in respect of which a claim
 for indemnification may be sought under this Section 2.9; and 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (ii)

 	
 as promptly as reasonably
 practicable notify the Company after any such action is formally commenced (by
 way of service with a summons or other legal process giving information as to
 the nature and basis of the claim),

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 and shall keep the Company
 informed of, and, to the extent reasonably practicable, consult with the
 Company in relation to, all material developments in respect thereof, but in
 each case, only insofar as may be consistent with the terms of any relevant
 insurance policy and provided (in each case) that to do so would not, in such
 Indemnitee’s view (acting in good faith), be prejudicial to it (or to any
 Indemnitee connected to it) or to any obligation of confidentiality or other
 legal or regulatory obligation which that Indemnitee owes to any third party or
 to any regulatory request that has been made of it. However, the failure to
 so notify the Company and keep the Company informed shall not relieve the
 Company from any liability hereunder to the extent it is not materially
 prejudiced as a result thereof and in any event shall not relieve the Company
 from any liability which it may have otherwise than on account of the
 indemnity set out in this Section 2.9.

 

          (d)
Legal advisers for Indemnitees shall be selected by the Investor in respect of
the Investor’s Indemnitees, and each Holder in respect of its Indemnitees. The
Company may participate at its own expense in the defense of any action
commenced against it provided that legal advisers for the Company shall not
(except with the consent of the relevant Indemnitee) also be legal advisers for
the Indemnitee. 

          (e)
In no event shall the Company be liable for fees and expenses of more than one
legal adviser (in addition to any local legal advisers) separate from its own
legal advisers for all Holders in connection with any one action or separate
but similar or related actions in the same jurisdiction arising out of the same
general allegations or circumstances. 

          (f)
The Company shall not,
without the prior written consent of the relevant Indemnitees (acting in good
faith), settle or compromise or consent to the entry of any judgment with
respect to any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or any claim whatsoever
in respect of which indemnification or contribution could be sought under this
Section 2.9 (whether or not the Indemnitees are actual or potential parties
thereto), unless such settlement, compromise or consent: (i) includes an
unconditional release of each Indemnitee from all liability arising out of such
litigation, investigation, proceeding or claim; and (ii) does not include a
statement as to or an admission of fault, culpability or a failure to act by or
on behalf of any Indemnitee.

15

2.10. Assignment or
Novation of Registration Rights. 

          (a)
The Investor (or a Holder to whom the Investor has transferred, assigned or
novated rights pursuant to this Section 2.10) shall be permitted to transfer,
assign or novate its rights and obligations under this Agreement to (i) any
Person (other than a Wholly Owned Entity) to which the Investor or such Holder
transfers or sells Registrable Securities or Related Securities, if the
aggregate market value of the Registrable Securities or, in respect of Related
Securities, the Registrable Securities in respect of which exchange, conversion
or other rights may be exercised, transferred to such person is at the date of
such transfer at least $500,000,000 (or the equivalent sum in any other
currency) (each such person being a “Third Party Transferee”) and (ii)
subject to 2.10(b), any entity which is wholly owned, directly or indirectly,
by the Investor (a “Wholly Owned Entity”);
provided that the Investor (or a Holder to whom the Investor has
transferred, assigned or novated rights pursuant to this Section 2.10) shall
consult with the Company prior to transferring, assigning or novating its
rights and obligations to a Person pursuant to Section 2.10(a)(i); provided,
further, that any such consultation or its outcome shall not be binding
on the Investor or such Holder and shall in no way limit the Investor or such Holder’s right and ability
to effect a transfer, assignment or novation in accordance with Section
2.10(a)(i). 

          (b)
In the event of an
assignment, transfer or novation made pursuant to Section 2.10(a)(ii), the
Investor shall procure that, immediately prior to any such Wholly Owned Entity
ceasing to be wholly owned directly or indirectly by the Investor, such rights
and obligations under this Agreement shall be novated to the Investor or any
other Wholly Owned Entity. 

          (c)
Subject to Section
2.10(a), no party to this Agreement shall be permitted to assign or novate, or
purport to assign or novate, all or any part of the benefit of, or its rights or
benefits under, this Agreement to any other person without the prior written
consent of the other party. 

          (d)
Subject to the provisions of Section 2.3, nothing in this Agreement shall limit
the ability of the Investor, any Wholly Owned Entity and any Third Part
Transferee to participate in the offer or sale of Registrable Securities by
means of any registration statement made pursuant to a single Notice of Demand by an Initiating
Holder in accordance with Section 2.1 on such terms as they may agree with the
relevant Initiating Holder. Any registration effected with respect to the offer
or sale of Registrable Securities by more than one Holder initiated pursuant to
a single Notice of Demand is, and shall for all purposes be deemed to be, the
same registration. 

2.1 1. “Market Stand-Off.
In connection with any registered sale of Securities by the Company in which
the Investor and/or the Holders shall participate by exercise of the rights
provided hereunder, the Investor and/or such Holders hereby agree to discuss
with the managing underwriter or underwriters of such registered sale entry by
the Investor and/or such Holders into market stand-off or similar agreements in
connection with the Investor and/or such Holders’ participation in such registered
sale; provided that (i) no provision of this Agreement shall in any way be
construed so at to require the Investor and/or such Holders to enter into any
such market stand-off or similar agreement and (ii) the Investor and/or such
Holders shall in any case not enter into any such market stand-off or similar
agreement unless all executive officers and directors of the Company enter into
similar agreements and only if such Persons remain subject 

16

thereto (and are not
released from such agreements) for the same period as may be applicable to the
Investor and/or such Holders. 

2.12. Rule 144 Reporting. With a view to making available to Holders
the benefits of certain rules and regulations of the SEC which may permit the
sale of the Registrable Securities to the public without registration, the
Company agrees to use its reasonable best efforts to: 

          (a)
make and keep public information available, as those terms are understood and
defined in Rule 144 under the Securities Act or any similar or analogous rule
promulgated under the Securities Act, at all times after the effective date of
this Agreement; 

          
(b) file with the SEC, in
a timely manner, all reports and other documents required of the Company under
the Exchange Act; and 

          (c)
so long as a Holder owns any Registrable Securities, furnish to such Holder
forthwith upon request: a written statement by the Company as to its compliance
with the reporting requirements of Rule 144 under the Securities Act, and of
the Exchange Act; a copy of the most recent annual report of the Company; and
such other reports and documents as the Holder may reasonably request in
availing itself of any rule or regulation of the SEC allowing it to sell any
such Registrable Securities without registration. 

2.13. Other Registration
Rights. The Company shall not: 

          (a)
grant to any Other Shareholder any rights to request the Company to register
any Securities, unless (i) such rights are set forth in a written agreement
with the Other Shareholder and such rights and the terms of such agreement are
no more favorable to such Other Shareholder than the rights and terms set forth
in this Agreement and (ii) such agreement stipulates that (A) in any demand
registration made by the Investor or any Holder as the Initiating Holder (and
pursuant to which any Holder may participate in accordance with Section 2.3
hereof), the Investor and/or any Holder participating therein shall (subject
    to the relative priorities between the Investor and other Holders set forth
    in Section 2.3 hereof) always have a first priority right over such Other
    Shareholder (or any Other Shareholder) to register and sell any Registrable
    Securities the Investor or such Holders propose to register and sell in any
    such registration ahead of any such Registrable Securities any such Other
    Shareholder may propose to register or sell in connection therewith, (B)
    in any piggyback registration effected in connection with an underwritten
    primary registration by the Company which is not a demand registration by
    the Investor and/or the Holders, the Investor and/or the Holders shall always
    have a first priority right over such Other Shareholder (or any Other Shareholder)
    to register and sell any Registrable Securities (of the same class as the
    Securities the Company proposes to register and any Related Securities in
    respect of which the Holder Shares are Securities of the same class as the
    Securities the Company proposes to register) the Investor or such Holders
    propose to register and sell in any such piggyback registration ahead of
    any Registrable Securities any such Other Shareholder may propose to register
    and sell in connection therewith and (C) in any piggyback registration effected
    in connection with an underwritten secondary registration by the Company
    on behalf of and/or in response to a demand from such Other Shareholder,
    the Investor and/or the Holders shall have the right to register and sell
    any Registrable Securities (of the same class as the Securities such Other
    Shareholder proposes to register and any Related Securities in respect of
    which the Holder Shares are Securities of the 

17

same class as the Securities
such Other Shareholder proposes to register) they propose to register and sell
in any such piggyback registration, allocated, if necessary, pro
rata between the Investor and/or the Holders and such Other Shareholder on the
basis of the number of Securities owned by such Person ((i) and (ii) together,
the “Permitted Registration Rights”); and  

          (b)
effect any registration
in the United States of its Securities for or on behalf of or in response to
any demand from any Other Shareholder, except such Other Shareholder who has
been granted Permitted Registration Rights in accordance with this Agreement. 

ARTICLE III

MISCELLANEOUS

3.1. No Inconsistent Agreements. The Company shall not
    hereafter enter into any agreement with respect to its Securities that is
    inconsistent with the rights granted to the Investor and/or the Holders
    in this Agreement or otherwise conflicts with the provisions hereof. 

3.2. Authority; Enforceability. Each entity that is a party hereto has the corporate
power and each has the authority to enter into this Agreement and to carry out
its obligations hereunder. Each entity that is a party hereto is duly organized
and validly existing under the laws of its jurisdiction of organization, and
the execution of this Agreement and the consummation of the transactions
contemplated herein have been duly authorized by all necessary action, and no
other act or proceeding, corporate or otherwise, on its part is necessary to
authorize the execution of this Agreement or the consummation of any of the
transactions contemplated hereby. This Agreement has been duly executed and
delivered by each party. 

3.3. Adjustments
Affecting Registrable Securities. The Company shall not amend, or permit
any amendment of, its articles of association, by-laws or similar
organizational documents which would reasonably be expected to adversely affect
the ability of Holders to include Registrable Securities in a registration
undertaken pursuant to this Agreement or which would reasonably be expected to
adversely affect the marketability of such Registrable Securities in any such
registration. 

3.4. Successors and
Assigns. Except as otherwise provided herein, the terms and conditions of
this Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties (including transferees of any shares of
Registrable Securities to the extent set forth herein), and subject to the
restrictions on assignments and novation set forth in Section 2.10. Nothing in this Agreement, express or implied, is intended to confer
upon any party other than the parties hereto or their respective successors and
assigns any rights, remedies, obligations, or liabilities under or by reason of
this Agreement, except as expressly provided in this Agreement. 

3.5. Applicable Law and Submission to Jurisdiction. 

          (a)
This Agreement will be governed by and construed in accordance with the laws of
the State of New York applicable to contracts made and to be performed within
the State of New York, regardless of the law that might be applied under
principles of conflicts of laws. 

18

          (b)
    The Investor irrevocably submits to the nonexclusive jurisdiction of any
    New York State or United States Federal court sitting in the State of New
    York over any suit, action or proceeding arising out of or relating to this
    Agreement or the transactions contemplated thereby. The Investor irrevocably
    waives, to the fullest extent permitted by law, any objection which it may
    now or hereafter have to the laying of venue of any such suit, action or
    proceeding brought in such a court and any claim that any such suit, action
    or proceeding brought in such a court has been brought in an inconvenient
    forum. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY
    ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
    ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
    WAIVES ANY RIGHT
SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY
    OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i)
NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE. THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) EACH PARTY
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) EACH
PARTY MAKES THIS WAIVER VOLUNTARILY, AND (iv) EACH PARTY HAS BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION 3.6(b). 

3.6. Counterparts and
Facsimile. For the convenience of the parties hereto, this Agreement may be
executed in any number of separate counterparts, each such counterpart being
deemed to be an original instrument, and all such counterparts will together
constitute the same agreement. Executed signature pages to this Agreement may
be delivered by facsimile and such facsimiles will be deemed as sufficient as
if actual signature pages had been delivered. 

3.7. Titles and Subtitles.
The titles and subtitles used in this Agreement are used for convenience only
and are not to be considered in construing or interpreting this Agreement. 

3.8. Notices. Except
as otherwise provided in this Agreement, all notices, requests, claims,
demands, waivers and other communications hereunder shall be in writing and
shall be deemed to have been duly given when delivered by hand or overnight
courier service, or when received by facsimile transmission if promptly
confirmed, as follows: 

	
  

 	
  

 	
  

 
	
  

 	
 (a)

 	
 if to the Company, to: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Lloyds Banking Group Plc 

 Henry Duncan House 

 120 George St 

 Edinburgh EH2 4LH 

 Attention: Company Secretary

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 with copies to:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Linklaters LLP

 

19

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 One Silk Street 

 
	
  

 	
  

 	
 London EC2Y 8HQ 

 
	
  

 	
  

 	
 Attention: Thomas N. 0’ Neill III 

 
	
  

 	
  

 	
 Fax: +44 (0) 20 7456 2222 

 
	
  

 	
  

 	
  

 
	
  

 	
 (b)

 	
 if to the Investor, to: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 The Commissioners of Her
 Majesty’s Treasury 

 
	
  

 	
  

 	
 1 Horse Guards Road 

 
	
  

 	
  

 	
 London SWlA 2HQ 

 
	
  

 	
  

 	
 Attention: Nikhil Rathi
 (Team Leader, Financial Stability) 

 
	
  

 	
  

 	
 Fax: + 44 (0) 20 7270 4844 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 with copies to: 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 UK Financial Investments Limited 

 
	
  

 	
  

 	
 1 Horse Guards Road 

 
	
  

 	
  

 	
 London SWlA 2HQ 

 
	
  

 	
  

 	
 Attention: John Crompton
 (Head of Market Investments) 

 
	
  

 	
  

 	
 Fax: 144 (0) 20 7270 6668 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Slaughter and May 

 
	
  

 	
  

 	
 One Bunhill Row 

 
	
  

 	
  

 	
 London EClY 8YY 

 
	
  

 	
  

 	
 Attention:
      John Papanichola 

                       Paul
 Dickson 

 
	
  

 	
  

 	
 Fax: +44 (0) 20 7090 5000 

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Cravath, Swaine & Moore LLP 

 
	
  

 	
  

 	
 One Ropemaker Street 

 
	
  

 	
  

 	
 London EC2Y 9HR 

 
	
  

 	
  

 	
 Attention: Philip J.
 Boeckman, Esq. 

 
	
  

 	
  

 	
 Fax: +44 (0) 20 7860 1150 

 

or to such other address,
facsimile number or telephone as either party may, from time to time, designate
in a written notice given
in a like manner. 

3.9. Amendments and
Waivers. Any term of this Agreement may be amended and the observance of
any term of this Agreement may be waived (either generally or in a particular
instance and either retroactively or prospectively), only with the written
consent of the Company and the Holders of a majority of the Registrable
Securities then outstanding. Any amendment or waiver effected in accordance
with this paragraph shall be binding upon each Holder of any Registrable
Securities then outstanding, each future Holder of all such Registrable
Securities, and the Company. 

3.10. Severability.
If any provision of this Agreement or the application thereof to any person or
circumstance is determined by a court of competent jurisdiction to be invalid,
void or unenforceable, the remaining provisions hereof, or the application of
such provision to persons 

20

or circumstances other than
those as to which it has been held invalid or unenforceable, will remain in
full force and effect and shall in no way be affected, impaired or invalidated
thereby, so long as the economic or legal substance of the transactions
contemplated hereby is not affected in any manner materially adverse to any
party. Upon such determination, the parties shall negotiate in good faith in an
effort to agree upon a suitable and equitable substitute provision to effect
the original intent of the parties 

3.1 1. Aggregation of
Securities. All Registrable Securities held or acquired by any wholly-
owned subsidiary or parent of, or any corporation or entity that is
controlling, controlled by, or under common control with, the Investor shall be
aggregated together for the purpose of determining the availability of any rights
under this Agreement. 

3.12. Entire Agreement,
Etc. This Agreement constitutes the entire agreement, and supersedes all
other prior agreements, understandings, representations and warranties, both
written and oral, between the parties, with respect to the subject matter
hereof. 

3.13. Remedies. Any
Person having rights under any provision of this Agreement shall be entitled to
enforce such rights specifically, to recover damages caused by reason of any
breach of any provision of this Agreement and to exercise all other rights
granted by law. 

3.14. Interpretation of
Placing and Open Offer Agreement. The parties agree that if the Investor
transfers any Registrable Securities to an affiliate or nominee of the
Investor, such affiliate or nominee shall have all the rights and be bound by
the obligations of the Investor under the Placing and Open Offer Agreement. 

 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT
BLANK]

21

          IN WITNESS WHEREOF, the parties hereto have
executed this Agreement.

	
  

 	
  

 	
  

 	
  

 
	
 LLOYDS
 BANKING GROUP PLC

 	
  

 	
  

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Date:

 	
  

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
 Signed by
 two
 of 

 THE
 COMMISSIONERS OF HER 

 MAJESTY’S
 TREASURY

 	
  

 	
  

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Date:

 	
  

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Date:

 	
  

 
	
  

 	
  

 	
  

 	

 

 

22

          IN WITNESS WHEREOF, the parties hereto have executed
this Agreement.

	
  

 	
  

 	
  

 	
  

 
	
 LLOYDS
 BANKING GROUP PLC

 	
  

 	
  

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Date:

 	
  

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
 Signed by
 two of 

 THE COMMISSIONERS OF HER 

 MAJESTY’S
 TREASURY

 	
  

 	
  

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Date:

 	
 P 18/6/09

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Date:

 	
 18/6/09

 
	
  

 	
  

 	
  

 	

 

 

22Exhibit 4(a)(viii)

The Commissioners of Her Majesty’s Treasury (the “Treasury”) 

1 Horse Guards Road 

London 

SW1A 2HQ 

The Secretary of State, Department for Business, Innovation and Skills
(“BIS“) 

1 Victoria Street 

London 

SW1H 0ET 

The Secretary of State, Department for Communities and Local Government
(“DCLG”) 

Eland House 

Bressenden Place 

London 

SW1E 5DU 

23 March 2010 

Ladies and Gentlemen, 

2010 LENDING COMMITMENTS 

	
  

 	
  

 
	
 1.

 	
 Introduction

 

We refer to the deed poll entitled “Lending Commitments” dated 6 March
2009 executed by Lioyds Banking Group plc (the “Participating Institution”)
in favour of the Treasury, BIS (then known as the Department for Business,
Enterprise and Regulatory Reform) and DCLG (as amended, including pursuant to
the Deed of Withdrawal dated 3 November 2009 between the
Participating Institution and the Treasury) (the Lending Commitments Deed
Poll, “LCDP”). 

The LCDP specified: (i) the lending commitments given by the
Participating Institution for itself and on behalf of its Group, comprising
Business Lending Commitments and a Homeowner Lending Commitment; and (ii)
certain associated undertakings being given by the Participating Institution in
connection with the implementation and operation of the Lending Commitments. 

The LCDP specified commitments for the 12 month period commencing 1 March 2009 (the “2009 commitment
period) and the 12 month period commencing 1 March 2010 (the “2010 commitment
period”). Pursuant to paragraph 6 of
the LCDP, and in consequence of an ongoing dialogue between the Participating
Institution and the Government Departments, the Government Departments consider
that it is appropriate to change the Business Lending Commitments for the
2010 commitment period and to adjust the undertakings given in connection
with the implementation and operation of the Homeowner Lending Commitment for
that period. 

2

The Participating Institution hereby amends the LCDP (pursuant to
paragraph 12.6 of the LCDP) as follows. Such amendments shall take effect upon
confirmation of the consent of the Government Departments to these amendments
by their countersigning below. The remaining provisions of the LCDP shall in
all other respects remain unamended and in full force and effect. 

	
  

 	
  

 
	
 2.

 	
 Adjustment
 of the LCDP in respect of the 2010 commitment period 

 

2.1 Introduction

This paragraph amends the LCDP in so far as it relates to the 2010
commitment period.

2.2 Business Lending Commitments: 2010
commitment

(A) In the heading to paragraph 4.2, at the end add “: 2009 commitment
period”. 

(B) In paragraph 4.2(A), omit “and the 12 month period commencing 1 March 2010 (“the “2010 commitment
period”)” and for “4.8” substitute “4.7”. 

(C) For paragraph 4.8 substitute: 

 “4.8 Aggregate Business Lending Commitment:
2010 commitment 

In respect of the 12 month period commencing 1 March 2010 (the “2010 commitment
period”), the Participating Institution undertakes subject to sufficient
customer demand and the terms of this Deed Poll to provide gross new lending to
Relevant Businesses of, in aggregate, £44.0 billion. In satisfying this
aggregate lending commitment, the Participating Institution shall lend to each
Relevant Business Category the targeted amount specified in paragraphs 4.8B and
4.8C. 

Paragraph 8 imposes obligations on the Participating Institution to
provide monthly reports to the Government Departments in relation to new
lending to Relevant Businesses on both a net and gross basis. 

In determining what is “gross new lending” for the purposes of this
Deed Poll, the Participating Institution shall - 

	
  

 	
  

 
	
  

 	
 (A) include the
 total amount of a facility, including bond and equity underwriting, made
 available to a person who is not a customer of the Participating Institution
 immediately before the facility is made available; 

 
	
  

 	
  

 
	
  

 	
 (B) include the total amount of any
 new facility, including bond and equity underwriting. made available to a
 person who is a customer of the Participating Institution immediately
 before the facility is made available; 

 
	
  

 	
  

 
	
  

 	
 (C) include any
 increase in a facility, including bond and equity underwriting, currently
 made available to a person who is a customer of the Participating
 Institution where that increase takes place by virtue of a decision of the
 Participating Institution and where no material changes to the terms of the
 facility are made; 

 

3

	
  

 	
  

 
	
  

 	
 (D) include the total amount of any
 facility made available to a person who is a customer of the Participating
 Institution immediately before the facility is made available where the facility
 is made available in connection with or in consequence of the termination of
 an existing facility made available by the Participating lnstitution to that
 person; 

 
	
  

 	
  

 
	
  

 	
 (E) not include repayments; 

 
	
  

 	
  

 
	
  

 	
 (F) not include
 any increase or decrease in a facility made available to a person who is a
 customer of the Participating Institution where that increase or decrease
 takes place otherwise than by virtue of a decision of the Participating
 Institution; 

 
	
  

 	
  

 
	
  

 	
 (G) only treat a
 “facility” as being “made available” for the purposes of any of the foregoing
 sub-paragraphs if it constitutes lending (as defined in paragraph 4.9); and 

 
	
  

 	
  

 
	
  

 	
 (H) to the extent
 that paragraph 4.9 conflicts with the provisions in sub-paragraphs (A) to (F) above, not apply that paragraph. 

 

4.8A Aggregate Business Lending Commitment:
general principles for the 2010 commitment period 

Without prejudice to paragraph 3, for the purposes of the 2010
commitments period the Business Lending Commitments are subject to: 

	
  

 	
  

 	
  

 
	
  

 	
 (A)

 	
 the Participating
 Institution’s commercial terms and conditions, including appropriate risk
 adjusted pricing and satisfaction of risk acceptance criteria, as defined by
 the Participating Institution for its potential or existing customers; 

 
	
  

 	
  

 	
  

 
	
  

 	
 (B)

 	
 through the best
 endeavours of the Participating Institution, the availability of the capital,
 liquidity and funding position on acceptable terms necessary to support the
 lending that the Participating Institution has committed to during the 2010
 commitment period; and 

 
	
  

 	
  

 	
  

 
	
  

 	
 (C)

 	
 sufficient demand
 from customers who meet the above criteria. 

 

4.8B SMEs: 2010 Commitment 

The Participating Institution undertakes that, in respect of the 2010
commitment period, its gross new lending to SMEs will be at least ***1. 

4.8C Mid-Corporates and Large Corporates:
2010 Commitment 

The Participating Institution undertakes that, in respect of the 2010
commitment period, its gross new lending to Mid-Corporates and Large Corporates
will be at least ***1.

2.3 Homeowner Lending Commitments 

(A) In paragraph 5.6:

	 
	 

	

    
	1
	*** Indicates omission of material which has been separately filed pursuant to a request for confidential treatment.

 

4

	
  

 	
  

 
	
  

 	
 (i) after
 “actively participate”, insert “and support eligible borrowers’
 applications”; and 

 
	
  

 	
  

 
	
  

 	
 (ii) omit “(when
 the detail of this scheme is finalised)”. 

 

(B) In paragraph 5.7, at the end of sub-paragraph (C) insert: 

“; and 

(D) help first time buyers by supporting
their participation in Government-supported shared ownership and equity loan
schemes including by: 

	
  

 	
  

 
	
  

 	
 (i) offering
 interest rates to first time buyers participating in such schemes which are
 similar to interest rates offered to other first time buyers; 

 
	
  

 	
  

 
	
  

 	
 (ii) for first
 time buyers participating in Government-supported equity loan schemes,
 seeking to maintain the minimum deposit requirement at 5% of the share
 purchased; 

 
	
  

 	
  

 
	
  

 	
 (iii) providing
 prior notice to the Government Departments of any increase in the minimum
 deposit requirement, combined with an explanation of the rationale behind
 the intended increase; 

 
	
  

 	
  

 
	
  

 	
 (iv) keeping the
 need for a minimum deposit requirement under review; and 

 
	
  

 	
  

 
	
  

 	
 (v) in recognition
 of the reduced risk to lenders offered by the protections built into
 Government-supported shared ownership schemes, the Participating Institution
 will minimise the deposit requirements currently associated with this type
 of lending, subject to appropriate adjustments for the risks presented by the
 property type and shared ownership lease characteristics”. 

 

2.4 Business Lending Commitments:
monitoring of net lending 

In paragraph 8.2, for sub-paragraph (A) substitute: 

“(A) a segmental analysis showing gross new lending divided by both
size of business (corresponding to the Relevant Business Categories) and
industry sector; 

(AB) a segmental analysis showing new lending on a net basis divided by
both size of business (corresponding to the Relevant Business Categories) and
industry sector;”. 

	
  

 	
  

 
	
 3.

 	
 Incorporation
 of terms of this Deed Poll Into the LCDP 

 

This Deed Poll shall form part of and be read together with the LCDP.
References in the LCDP to “this Deed Poll” or any similar references shall be deemed
to refer to the LCDP as amended by this Deed Poll. 

This Deed Poll and any non-contractual obligations arising out of or in
connection with it shall be governed by and construed in accordance with the
laws of England. 

5

IN WITNESS WHEREOF this Deed Poll has been executed and
delivered as a deed on March 2010. 

	
  

 	
  

 	
  

 	
  

 
	
 Executed and
 delivered as a deed by

 LLOYDS BANKING GROUP PLC

 acting by two directors / one director and its

 secretary

 	
 )

 	
  

 	
  

 
	
 )

 	
  

 	
  

 
	
 )

 	
 By:

 	
 

 
	
  

 	
  

 	

 

 
	
 )

 	
  

 	
 Director

 
	
 )

 	
  

 	
  

 
	
 )

 	
  

 	
  

 
	
 )

 	
  

 	
  

 
	
 )

 	
  

 	
  

 
	
 )

 	
 By:

 	
 

 
	
  

 	
  

 	

 

 
	
 )

 	
  

 	
  

 
	
 )

 	
  

 	
 Secretary 

 

6

	
  

 
	
 Consented to by

 
	
  

 
	
 

 
	

 

 
	
 for and on behalf
 of 

 
	
 The Commissioners
 of Her Majesty’s Treasury

 
	
  

 
	
 

 
	

 

 
	
 for and on behalf
 of

 
	
 The Secretary of
 State, Department for Business, Innovation and Skills

 
	
  

 
	
 

 
	

 

 
	
 for and on behalf
 of

 
	
 The Secretary of
 State, Department for Communities and Local Government

 
	
  

 
	
  

 
	
  

 
	
  

 
	
  

 

Conformed
copy (redacted)

The Commissioners of Her Majesty’s Treasury (the
“Treasury”)

1 Horse Guards Road

London

SW1A2HQ 

The Secretary of State,
Department for Business, Enterprise and Regulatory Reform (“BERR”)

1 Victoria Street

London

SW1H 0ET 

The Secretary of State,
Department for Communities and Local Government (“DCLG”)

Eland House

Bressenden Place

London

SW1E 5DU 

6 March 2009

Ladies and Gentlemen,

LENDING COMMITMENTS

	
  

 	
  

 
	
 1.

 	
 Introduction

 
	
  

 	
  

 
	
 Lloyds Banking Group plc (the
 “Participating Institution”) notes that:

 
	
  

 
	
 (A)

 	
 the Asset Protection Scheme
 (the “APS”) and the extension to the Credit Guarantee Scheme (the
 “CGS” and, together with the APS, the “Schemes”) announced by the Government on 19 January 2009 are part of a
 comprehensive package of measures the objective of which is to reinforce the stability of the financial
 system, and together with the Working Capital Scheme announced by the
 Government on 14 January 2009 (the “WCS”),
 to increase confidence and capacity to lend, and in turn to support the recovery of the economy;

 
	
  

 	
  

 
	
 (B)

 	
 participation in either or both
 of the Schemes by an institution having eligible liabilities (as determined by the Bank of England) above a
 threshold to be specified by the
 Treasury is subject to a verifiable commitment to be agreed between each
 participating institution and the Government to support lending to
 creditworthy borrowers in the real
 economy in a commercial manner; and

 
	
  

 	
  

 
	
 (C)

 	
 in determining the requisite
 lending commitments, the Treasury, BERR and DCLG (together, the “Government Departments”) have
 consulted closely with each other in relation
 to sectors of the economy for which they have responsibilities, and will
 continue

 

Conformed copy (redacted)

	
  

 	
  

 
	
  

 	
 to consult closely with each
 other as appropriate in relation to the implementation and operation of the
 lending commitments given or to be given by certain institutions which
 participate in either or both of the Schemes.

 

In connection with the above,
this document is being entered into by the Participating institution by
way of a deed poll in favour of the Government Departments and specifies: (i)
the lending commitments given by the
Participating Institution for itself and on behalf of its Group, in connection
with its proposed participation in the Schemes, comprising Business Lending Commitments and a Homeowner Lending Commitment
(each as defined in paragraph 3(A) and together, the “Lending
Commitments”); and (ii) certain associated undertakings being given by the Participating Institution in connection with
the implementation and operation of the Lending Commitments.

The Participating Institution agrees that the
undertakings given in this Deed Poll (including the Lending Commitments) are
intended to be binding on it and the provision of such undertakings is a pre-requisite to the Participating
Institution’s proposed participation in the Schemes.

References in this Deed Poll to the “Participating
Institution” mean (where appropriate) the Participating Institution and the
members of the Participating Institution’s Group forming part of its UK banking operations.

	
  

 	
  

 
	
 2.

 	
 Commencement
 of Lending Commitments

 

The Participating Institution undertakes (for itself
and on behalf of its Group) to commence the implementation
of the Lending Commitments with effect from 1 March 2009 and in doing so, to act
in good faith, having regard to the purpose of the Lending Commitments to
support lending to creditworthy borrowers in the real economy in a commercial
manner. The implementation of the Lending
Commitments is subject to the terms and conditions of this Deed Poll.

	
  

 	
  

 
	
 3.

 	
 The Lending
 Commitments: General

 

The Participating Institution
undertakes on the terms and subject to the provisions of this Deed Poll:

	
  

 	
  

 
	
 (A)

 	
 to increase the supply of lending by the UK banking
 operations of the Participating Institution
 to UK businesses (as further described in paragraph 4 below) (the “Business Lending Commitments”) and to homeowners
 (including first time buyers) (as further described in paragraph 5 below) (the “Homeowner Lending
 Commitment”); and

 
	
  

 	
  

 
	
 (B)

 	
 to implement the Business
 Lending Commitments and the Homeowner Lending Commitment without distortion
 to its lending activities to other sectors of the real economy (including unsecured consumer lending)
 in the UK and, in doing so, to pay
 due regard to the level of demand and the normal distribution of maturities
 of lending to other sectors of the
 real economy.

 

Notwithstanding the foregoing,
the Participating Institution notes that the Lending Commitments are not intended to require or cause the Participating
Institution to do anything that would constitute a breach by it of the
Financial Services and Markets Act 2000 (“FSMA”), the rules

2

Conformed copy (redacted)

made by the Financial Services
Authority (“FSA”) or the FSA’s supervisory framework (together, the “FSA Requirements”), to lend in excess of its
single name or sectoral risk concentration limits or otherwise to engage in uncommercial practices.

In Implementing the Lending
Commitments, the Participating Institution will adhere to Principle 6 of
the FSA’s Principles for Business (“a firm must pay due regard to the interests
of its customers and treat them fairly”) in
respect of its lending activities.

The Lending Commitments will be
subject to the Participating Institution’s prevailing commercial terms and conditions, including pricing, and risk
assessment; and, additionally, residential mortgage lending will be subject to the applicants meeting the
Participating Institution’s standard credit and other acceptance criteria which
must be reasonable for a prudent banking institution.

	
  

 	
  

 
	
 4.

 	
 The Business Lending Commitments

 
	
  

 	
  

 
	
 4.1

 	
 Scope of
 Business Lending Commitments

 
	
  

 	
  

 
	
 The Business Lending Commitments apply to lending by
 the UK banking operations of the Participating
 Institution to the following UK business categories (each, a “Relevant
 Business Category” and together,
 “Relevant Businesses”):

 
	
  

 
	
 (A)

 	
 small and medium sized
 enterprises (or “SMEs”), which means UK businesses which are categorised by the Participating Institution
 as being small or medium sized
 enterprises by reference to their turnover being £15 million or less;

 
	
  

 	
  

 
	
 (B)

 	
 “Mid-Corporates”, which means UK businesses with a
 turnover of £500 million or less,
 excluding SMEs; and

 
	
  

 	
  

 
	
 (C)

 	
 “Large Corporates”, which means UK businesses with a
 turnover in excess of £500 million.

 

For the purposes of this Deed
Poll: (i) “UK businesses” refers to firms, companies, partnerships, joint
ventures, associations and other undertakings engaged in economic activity in
the UK (including subsidiaries and branches
of overseas entities conducting such economic activities); and (ii) “turnover” refers to the relevant UK
business’s turnover, as stated in its most recent annual accounts or, where the UK business is part
of a group, the consolidated annual turnover of the group.

As stated in paragraph 3, lending
pursuant to the Business Lending Commitments will be subject to the
Participating Institution’s prevailing commercial terms and conditions,
including pricing, and risk assessment.

	
  

 	
  

 
	
 4.2

 	
 Baseline for
 determining compliance with Business Lending Commitments

 

The Participating institution
undertakes:

	
  

 	
  

 
	
 (A)

 	
 in respect of the 12 month
 period commencing 1 March 2009 (the “2009 commitment period”) and the 12
 month period commencing 1 March 2010 (the “2010 commitment

 

3

Conformed copy (redacted)

	
  

 	
  

 
	
  

 	
 period”), to increase lending (as defined in
 paragraph 4.9) above the lending figure specified in the baseline plan by the
 amounts specified in paragraphs 4.3 to 4.8 inclusive;
 and

 
	
  

 	
  

 
	
 (B)

 	
 to implement the Business Lending Commitments in
 line with demand from different industry sectors operating in the real
 economy and, subject to demand, in line with the normal distribution of maturities of loans to each Relevant Business
 Category.

 

For the purposes of this Deed
Poll, the “baseline plan” means the Participating Institution’s forecast as at 31 December 2009 (before the
impact of the Lending Commitments) that the Participating Institution has
shared with the Government Departments.

	
  

 	
  

 
	
 4.3

 	
 Aggregate
 Business Lending Commitment

 

In respect of the 2009 commitment
period, the Participating Institution undertakes to increase its lending to Relevant Businesses by, in aggregate,
an additional £11.0 billion above the amount shown in the baseline plan.
In satisfying this aggregate lending commitment, the Participating Institution shall increase its lending to each
Relevant Business Category by (at a minimum) the amount specified in paragraphs
4.4 to 4.6 inclusive.

	
  

 	
  

 
	
 4.4

 	
 SMEs: 2009 commitment

 

The Participating Institution undertakes that, in
respect of the 2009 commitment period, its lending
to SMEs will be at least ***1 above
the amount shown in the baseline plan.

	
  

 	
  

 
	
 4.5

 	
 Mid-Corporates:
 2009 commitment

 

The Participating institution undertakes that, in
respect of the 2009 commitment period, its lending
to Mid-Corporates will be at least ***1, above the amount shown in
the baseline plan.

	
  

 	
  

 
	
 4.6

 	
 Large
 Corporates: 2009 commitment

 

The Participating institution undertakes that, in
respect of the 2009 commitment period, its lending
to Large Corporates will be at least ***1 above the amount shown in the baseline
plan.

The Participating Institution
will work constructively by: (i) participating in forums established or
supported by the Government or the Bank of England; (ii) working with the
Government and the Bank of England to
develop guidelines for lenders; and (iii) continuing its ordinary course 

	
  

 	
  

 
	

 

 
	
 1

 	
 *** Indicates omission of
 material, which has been separately filed, pursuant to a request for
 confidential treatment.

 

4

Conformed copy (redacted)

activities and processes (including with respect to
the syndication of facilities), to address or reduce
any risk concentrations arising from this Business Lending Commitment.

	
  

 	
  

 
	
 4.7

 	
 Inter-relationships
 between WCS and Business Lending Commitments

 

The Participating Institution has
agreed to participate in the WCS and undertakes that the capital
released by its participation in the Scheme will be redeployed in support of
lending to SMEs and Mid-Corporates for all
forms of finance. This release of capital will enable the Participating
Institution to provide ***1 of the £11.0 billion increase in lending
referred to in paragraph 4.3 and, as such,
the Participating Institution notes that the commitment given in respect of capital released by its participation
in the WCS: (i) is incorporated within the Business Lending Commitment for the Relevant Business
Categories; and (ii) will be subject to the monitoring, reporting and compliance arrangements described in
paragraphs 8, 9 and 11.

	
  

 	
  

 
	
 4.8

 	
 Lending to
 business: 2010 commitment

 

In respect of the 2010 commitment period, the
Participating Institution undertakes to maintain similar levels of lending to each of the Relevant Business Categories as
in the 2009 commitment period,
subject to adjustment of the commitments (pursuant to paragraph 6) by agreement with the Treasury and BERR to reflect
circumstances at the start of the 2010 commitment
period.

	
  

 	
  

 
	
 4.9

 	
 Application
 of Business Lending Commitments

 

For the purpose of the Business
Lending Commitments “lending” means financing facilities granted
(whether drawn or undrawn), in each case to real economy UK businesses,
including (without limitation) loans, overdrafts, hire purchase and leasing of
business assets, invoice discounting and
export finance, but excluding (without limitation) derivatives and interbank financing
and which are outstanding as at the end of the 2009 commitment period or the
2010 commitment period (as appropriate).

For the purposes of the above: (i) debt which is
exchanged for equity in a restructuring of a borrower,
and impairments and write-offs of outstanding lending (save to the extent such
impairments and write-offs are already reflected in the baseline plan), shall
be treated as if it was still lending,
except to the extent that such adjustments to the quantum of outstanding lending
are recovered or are recoverable through the APS; and (ii) debt which is repaid
by a borrower as a consequence of that
borrower raising capital through other means, including (without
limitation) through disposals, equity issuance and bond issuance, shall be
treated as if it was still lending.

	
  

 	
  

 
	

 

 
	
 1 

 	
 *** Indicates omission of material, which has been
 separately filed, pursuant to a request
 for confidential treatment.

 

5

Conformed
copy (redacted)

	
  

 	
  

 
	
 4.10

 	
 Marketing relating to Business
 Lending Commitments

 

The Participating Institution
undertakes that it will promptly ensure that its staff are aware of the Business Lending Commitments and actively seek to
implement such commitments through sales and marketing activities which
are targeted at Relevant Businesses, which shall include both existing
borrowers and new potential borrowers. These activities will, where reasonably appropriate, make specific provision for UK
businesses that would be categorised by the Participating Institution as
Mid-Corporates or Large Corporates and whose borrowings were financed, or are
financed, by financial institutions that have reduced, or are in the process
of, reducing their lending activities to UK
businesses.

	
  

 	
  

 
	
 4.11

 	
 General provisions about
 lending to business

 
	
  

 
	
 In relation to lending to
 Relevant Businesses, the Participating Institution will:

 
	
  

 	
  

 
	
 (A)

 	
 commit to its lending
 allocation under the Enterprise Finance Guarantee Scheme, subject to the Participating Institution’s
 ordinary course pricing and other terms;

 
	
  

 	
  

 
	
 (B)

 	
 apply for and, if approved,
 use the European Investment Bank’s intermediated financing schemes aimed specifically at SMEs and
 “Midcaps” (as defined by the European
 Investment Bank);

 
	
  

 	
  

 
	
 (C)

 	
 actively and constructively
 participate in the funding of UK export credits where such funding is subject
 to the Export Credits Guarantee Department guarantee arrangements;

 
	
  

 	
  

 
	
 (D)

 	
 abide by the revised British
 Bankers’ Association statement of principles for small business lending released on 12 December 2008
 (as agreed at the Small Business
 Finance Forum held on 11 November 2008);

 
	
  

 	
  

 
	
 (E)

 	
 not reduce or withdraw, or
 increase its charges on, working capital lines when credit insurance covering
 the borrower’s suppliers has been reduced or withdrawn, without due and careful consideration and unless it is
 satisfied, through the application of its ordinary course commercial and risk assessment, that there has been a
 material adverse change in the
 credit risk associated with the relevant business that justifies such an action;

 
	
  

 	
  

 
	
 (F)

 	
 continue to apply ordinary
 course commercial practices as a prudent banking institution in determining
 whether to call a default against a business to which it has made a loan; and

 
	
  

 	
  

 
	
  

 	
  

 
	
 (G)

 	
 work constructively with other
 lenders and, where appropriate, the Government in exploring the full range of restructuring
 possibilities for corporate borrowers, and to do so in compliance with the International
 Association of Restructuring, Insolvency and Bankruptcy Professionals’ (INSOL) “Statement of Principles for a
 Global Approach to Multi-creditor
 Workouts”.

 
	
  

 	
  

 
			

6

Conformed
copy (redacted)

The Participating Institution
notes that it has already committed to, and is making, funding of £6.25 million
available through the Capital for Enterprise Fund (announced by BERR on 14 January 2009), which is a fund to provide long term
finance for businesses which have exhausted
their normal lending facilities and which is part of Government’s commitment to
support the de-leveraging of
commercially viable over-leveraged businesses.

	
  

 	
  

 
	
 5.

 	
 Homeowner Lending Commitment

 
	
  

 	
  

 
	
 5.1

 	
 Scope of
 Homeowner Lending Commitment

 

The Homeowner Lending Commitment
applies to residential mortgage lending by the UK banking operations of the Participating
Institution to residential homeowners, including first time buyers and
buy-to-let mortgage lending, in respect of properties in the UK. Residential
and buy-to-let mortgage lending
which involves the Participating Institution lending by way of remortgage in circumstances where no property purchase is
involved shall be disregarded for these purposes.

	
  

 	
  

 
	
 5.2

 	
 Homeowner
 Lending Commitment: 2009 commitment

 

The Participating Institution
undertakes that, in respect of the 2009 commitment period, its gross
residential mortgage lending will be at least £3.0 billion above the amount
shown in the baseline plan.

As stated in paragraph 3,
residential mortgage lending will be subject to the Participating Institution’s prevailing commercial terms and
conditions, including pricing, and risk assessment; and, additionally, the
applicants meeting the Participating Institution’s standard credit and other
acceptance criteria which must be reasonable for a prudent banking institution.

	
  

 	
  

 
	
 5.3

 	
 Homeowner
 Lending Commitment: 2010 commitment

 

In the 2010 commitment period,
the Participating Institution undertakes to maintain similar levels of
gross residential mortgage lending as in the 2009 commitment period, subject to
adjustment of the commitment (pursuant to paragraph 6) by agreement with the
Government Departments to reflect
circumstances at the start of the 2010 commitment period.

	
  

 	
  

 
	
 5.4

 	
 Application
 of Homeowner Lending Commitment

 

For the purposes of the Homeowner
Lending Commitment, the Participating Institution will ensure that:

	
  

 	
  

 
	
 (A)

 	
 a range of residential mortgage
 products are available for residential mortgage applicants for residential mortgages across the
 loan-to-value (“LTV”) bands and up to at least 90% LTV;

 
	
  

 	
  

 
	
 (B)

 	
 applications for residential
 mortgage products are promptly processed and granted, subject to applicants meeting the Participating
 Institution’s standard credit and other acceptance criteria which must be
 reasonable for a prudent banking institution and pay due regard to the
 obligation to sell appropriate products to applicants; and

 

7

Conformed
copy (redacted)

	
  

 	
  

 
	
 (C)

 	
 additional residential mortgage
 lending is offered across a normal distribution of LTV bands and in accordance with ordinary course
 commercial practices as a prudent banking
 institution.

 
	
  

 	
  

 
	
 5.5

 	
 Marketing
 relating to Homeowner Lending Commitment

 

The Participating Institution
undertakes that it will promptly ensure that its staff are aware of the Homeowner
Lending Commitment and actively seek to implement such commitment through sales
and marketing activities targeted at residential homeowners (including first
time buyers). The communication of the
Homeowner Lending Commitment to staff, and the marketing of such commitment
to residential homeowners shall, in particular, address the specific
obligations undertaken by the Participating
Institution pursuant to paragraph 5.4.

	
  

 	
  

 
	
 5.6

 	
 General
 provisions about lending to homeowners

 

The Participating Institution
will:

	
  

 	
  

 
	
 (A)

 	
 actively participate in the
 Government’s Homeowners Mortgage Support Scheme (when the detail of this scheme is finalised),
 Mortgage Rescue Scheme and Support for Mortgage Interest and work to ensure that its eligible borrowers
 have the opportunity to benefit from these Schemes (where appropriate) and
 avoid repossession; and

 
	
  

 	
  

 
	
 (B)

 	
 abide by the principles
 established by, and actively and constructively participate in, the Home Finance Forum (including policies for
 supporting individual borrowers in difficulty).

 
	
  

 	
  

 
	
 5.7

 	
 Other
 provisions

 

The Participating Institution
will:

	
  

 	
  

 
	
 (A)

 	
 actively and constructively
 participate in the Consumer Finance Forum;

 
	
  

 	
  

 
	
 (B)

 	
 abide by the principles agreed
 as part of the Credit Card Summit on 28 November 2008; and

 
	
  

 	
  

 
	
 (C)

 	
 work closely with registered
 social landlords with a view to continuing the supply of appropriate finance.

 

8

Conformed
copy (redacted)

	
  

 	
  

 
	
 6. 

 	
 Adjustment of Lending Commitments

 

The Participating Institution acknowledges that, as a
consequence of its ongoing dialogue with the
Government Departments regarding the operation and implementation of the
Lending Commitments, it may be appropriate for the Government
Departments (in their discretion but acting
reasonably and in consultation with the Participating Institution) to: (i)
reduce the quantum of the Homeowner
Lending Commitment and/or one or more of the Business Lending Commitments;
or (ii) allow the Participating Institution to increase its lending to one or
more Relevant Business Categories by the
amount of any shortfall in residential mortgage lending (any such
increase and shortfall being calculated as an equivalent amount on a
risk-weighted asset basis) (a “Commitment
Adjustment”).

The circumstances in which the
Government Departments may make such an adjustment to the Lending Commitments include, but are not confined
to, the following:

	
  

 	
  

 
	
 (A)

 	
 changes to economic conditions,
 the competitive market landscape and/or the economic assumptions of the Participating Institution
 which have been shared with the Government Departments and underlie
 the baseline plan (including, without limitation, the level of demand for business and residential mortgage lending at
 the Participating Institution’s
 ordinary course pricing and terms and the level of availability within the market of other forms of debt and equity finance
 to UK businesses);

 
	
  

 	
  

 
	
 (B)

 	
 significant changes to the
 utilisation and drawdown rates of lending UK businesses assumed in the baseline plan;

 
	
  

 	
  

 
	
 (C)

 	
 changes to the Government
 Departments’ expectations as to the amount of lending needed to maintain economic activity; and

 
	
  

 	
  

 
	
 (D)

 	
 updated assessments of the
 extent to which the Participating Institution has relied on Government support and the nature of the support
 utilised by the Participating Institution.

 

In determining whether to make a
Commitment Adjustment, the Participating Institution understands that
the Government Departments will have regard to (and act reasonably in considering) any submissions made by the
Participating Institution as part of its ongoing dialogue with the Government Departments regarding the operation and
implementation of the Lending Commitments (including (without
limitation) with respect to the Homeowner Lending Commitment and Business Lending Commitments applicable in respect of the
2010 commitment period).

If the Government Departments are satisfied that the
Lending Commitments are no longer necessary to address the Government’s
objectives of reinforcing the stability of the financial system, increasing
confidence and capacity to lend, and in turn supporting the recovery of the economy, they may agree that they should cease to
apply.

The Participating Institution will comply with the Lending Commitments
in accordance with the provisions of this Deed Poll on the understanding that:
(i) the Schemes will be established by the
Government; and (ii) the Participating Institution will participate in either
or both of the

9

Conformed copy (redacted) 

Schemes on terms to be agreed with the Government. It is understood
that the Government will, in consultation with the Participating Institution
and acting reasonably, make an appropriate Commitment Adjustment if the APS is
not implemented within the timeframes anticipated for such implementation; and
that if the APS is not implemented within the timeframes anticipated for such
implementation and the Participating Institution only participates in the CGS,
that the Government will, in consultation with the Participating Institution
and acting reasonably, make an appropriate Commitment Adjustment having regard
to the quantum of financial support being provided by the Government to the
Participating Institution pursuant to the CGS. 

If any preference shares held by the Treasury in the capital of the
Participating Institution are exchanged for ordinary shares, the Participating
institution agrees that it shall increase the lending being made available to
support creditworthy borrowers in the real economy The quantum of such
increased lending shall be determined by reference to the increased lending
capacity of the Participating Institution after taking account of the long term
effects of the exchange of the preference shares. Such increased lending will
take account of demand for business and residential mortgage lending at the
Participating Institution’s prevailing terms and conditions, including pricing,
and risk assessment; and, additionally, any increased residential mortgage
lending will be subject to the applicants meeting the Participating
Institution’s standard credit and other acceptance criteria. 

	
  

 	
  

 
	
 7.

 	
 Interaction
 of Lending Commitments with previous commitments 

 

The Participating Institution notes that the Lending Commitments supersede
the lending commitments given by the Participating Institution in October 2008
in connection with its participation in the Government’s Recapitalisation
Scheme. 

	
  

 	
  

 
	
 8.

 	
 Monitoring
 and Reporting 

 
	
  

 	
  

 
	
 8.1

 	
 General
 requirements 

 

The Participating Institution agrees that:

	
  

 	
  

 	
  

 
	
 (A)

 	
 compliance with
 the Lending Commitments will be subject to a monitoring and reporting process
 between the Participating Institution and the Government Departments which
 will be detailed, transparent and determined by the Government Departments
 (acting reasonably) in consultation with the Participating Institution; 

 
	
  

 	
  

 	
  

 
	
 (B)

 	
 It will report to
 the Government Departments: 

 
	
  

 	
  

 	
  

 
	
  

 	
 (i)

 	
 on a monthly basis
 in a format, with content and within timescales, to be determined by the
 Government Departments (acting reasonably) in consultation with the
 Participating Institution (the “monthly reports”) and that: (a) In respect of
 the Business Lending Commitments, the monthly report will include (without
 limitation) the information and data described in paragraph 8.2; and (b) in
 respect of the Homeowner Lending Commitment, each monthly report will include
 (without limitation) the information and data described in paragraph 8.3; and
 

 

10

Conformed copy (redacted) 

	
  

 	
  

 	
  

 
	
  

 	
 (ii)

 	
 on an annual basis
 in a format, with content and within timescales, to be determined by the
 Government Departments (acting reasonably) in consultation with the
 Participating institution (the “annual reports”) to facilitate the reporting
 by the Government Departments envisaged in paragraph 8.5(B) and that each
 annual report will include (without limitation) the information and data
 described in paragraph 8.4; and 

 
	
  

 	
  

 	
  

 
	
 (C)

 	
 the monthly
 reports and annual reports will be submitted to the board of directors of the
 Participating Institution (the “Board”) prior to delivery to the Government
 Departments and, upon delivery to the Government Departments, will be
 accompanied by a certificate from a Board director that, to the best of his
 or her knowledge and belief, having made reasonable enquiries, the report
 fairly presents the relevant data and is not misleading for the purpose of
 assessing compliance with the Lending Commitments or the achievement of their
 purpose. 

 

Without prejudice to the specific requirements set out in this paragraph
8, the Participating institution undertakes to be open and honest in its
dealings with the Government Departments in relation to the implementation and
operation of the Lending Commitments and will promptly provide each Government
Department with such other information as it reasonably requires in connection
with the Lending Commitments. 

	
  

 	
  

 
	
 8.2

 	
 Business
 Lending Commitments: monthly reports 

 

In relation to the Business Lending Commitments, the monthly reports
will include: 

	
  

 	
  

 
	
 (A)

 	
 a segmental
 analysis showing new and outstanding lending and commitments divided by both
 size of business (corresponding to the Relevant Business Categories) and
 industry sector; 

 
	
  

 	
  

 
	
 (B)

 	
 (in respect of
 SMEs) application numbers and acceptance rates by type of financing, together
 with the credit risk rating of businesses; 

 
	
  

 	
  

 
	
 (C)

 	
 a summary of the
 distributions of the pricing and terms on which lending is being made
 available and details of the credit and risk assessment methodology; 

 
	
  

 	
  

 
	
 (D)

 	
 a narrative
 commentary on new lending activities in respect of new and existing
 borrowers; and 

 
	
  

 	
  

 
	
 (E)

 	
 a narrative
 commentary on the data, explaining the reasons for any significant variances
 in the amount of outstanding loans and availability of credit by size of
 business or sector from the baseline plan. 

 
	
  

 	
  

 
	
 8.3

 	
 Homeowner Lending
Commitment: monthly reports  

 

In relation to the Homeowner Lending Commitment, the monthly reports
will include: 

	
  

 	
  

 
	
 (A)

 	
 a segmental
 analysis showing new loans (gross new residential mortgage lending), credit
 availability and end of month stock of loans (net outstanding residential
 mortgage 

 

11

Conformed copy (redacted) 

	
  

 	
  

 
	
  

 	
 lending) divided
 by transaction type (Including LTV and Loan to Disposable Income (“LDI”)
 ratios);

 
	
  

 	
  

 
	
 (B)

 	
 application
 numbers and acceptance rates by product, together with the bureau credit
 rating scores of applicants, against the corresponding numbers for 2008; 

 
	
  

 	
  

 
	
 (C)

 	
 a summary of the
 distributions of the pricing and terms on which lending is being made
 available and of the credit and risk assessment methodology; and 

 
	
  

 	
  

 
	
 (D)

 	
 a narrative
 commentary on the data, explaining the reasons for any significant variances
 in the amount of outstanding loans and availability of credit by transaction
 type from the baseline plan. 

 
	
  

 	
  

 
	
 8.4

 	
 Lending
 Commitments: annual reports

 

The annual reports will include information of a type which is broadly
equivalent to the data and information to be contained in the monthly reports. 

	
  

 	
  

 
	
 8.5

 	
 Public disclosure  

 
	
  

 	
  

 
	
 The Participating
 institution agrees that:

 
	
  

 
	
 (A)

 	
 the Government
 Departments may publicly announce details of the Lending Commitments and the
 associated obligations and undertakings of the Participating institution as
 described in this Deed Poll; and 

 
	
  

 	
  

 
	
 (B)

 	
 each of the
 Government Departments may report to Parliament and Parliamentary committees
 (including the Public Accounts Committee and the House of Commons Treasury
 Select Committee) on implementation of, and compliance with, the Lending
 Commitments, with such reporting expected to be undertaken on an annual
 basis. 

 
	
  

 	
  

 
	
 8.6

 	
 Confidentiality
 

 

Certain data and information to be included within the monthly reports,
or otherwise provided to the Government Departments by the Participating
institution pursuant to this Deed Poll, will be anonymised to preserve customer
confidentiality and will constitute confidential, commercially sensitive data. 

This Deed Poll (including the baseline plan), and
    confidential information provided to Government Departments pursuant to this
    Deed Poll (including the monthly and annual reports), is or will be (without
    prejudice to the rights of the Government Departments described in paragraph
    8.5(A)) subject to confidentiality and freedom of information arrangements
    between the Participating institution and each of the Government Departments
    on the terms set out in the confidentiality agreements between the Particlpating
institution and each of the Government Departments dated 27 February 2009). 

12

Conformed copy (redacted) 

	
  

 	
  

 
	
 9.

 	
 Implementation
 plan 

 

The Participating institution undertakes that, as soon as practicable
after the Lending Commitments take effect, it will prepare and present to the
Government Departments a plan which will address how the Lending Commitments
are to be implemented. Such implementation plan will include the Participating
institution’s proposals regarding the marketing and sales activities to be
undertaken pursuant to paragraphs 4.10 and 5.5. 

	
  

 	
  

 
	
 10.

 	
 lncentivisation
 

 

The Participating institution will, in applying its balanced scorecard
approach to remuneration, ensure that the performance assessment for staff
employed in business units responsible for delivery of the Lending Commitments
will include an assessment of new lending arising from the marketing and sales
activities undertaken pursuant to the Participating institution’s obligations
under paragraphs 4.10 and 5.5. 

	
  

 	
  

 
	
 11.

 	
 Compliance
 

 

Any failure to comply with the Lending Commitments or the other
obligations of, or undertakings given by, the Participating Institution under
this Deed Poll will initially be addressed through the reporting mechanism
which will provide the Government Departments with a framework to discuss with
the Participating institution the background to and reasons for such failure. 

In addition, failure to comply with the Lending Commitments may result
in the withdrawal or restriction of the Participating institution’s eligibility
to roll over coverage under the CGS from three to five years. 

	
  

 	
  

 
	
 12.

 	
Miscellaneous  

 
	
  

 	
  

 
	
 12.1

 	
 Representations
and warranties  

 

The Participating Institution represents and warrants that: 

	
  

 	
  

 
	
 (A)

 	
 it has the
 corporate power and the authority to enter into this Deed Poll and to carry
 out its obligations, and the undertakings given by it, hereunder; 

 
	
  

 	
  

 
	
 (B)

 	
 it is duly
 organised and validly existing under the laws of its jurisdiction of
 organisation, and the execution of this Deed Poll and the consummation of the
 transactions contemplated herein have been duly authorised by all necessary
 action, and no other act or proceeding, corporate or otherwise, on its part
 is necessary to authorise the execution of this Deed Poll or the consummation
 of any of the transactions contemplated hereby; and 

 
	
  

 	
  

 
	
 (C)

 	
 it has duly
 executed and delivered this Deed Poll. 

 

13

Conformed copy (redacted)

	
  

 	
  

 
	
 12.2

 	
 Costs
 

 

The Participating Institution agrees that it shall pay its own costs
and expenses in relation to the negotiation, preparation, execution and
carrying into effect of this Deed Poll. 

	
  

 	
  

 
	
 12.3

 	
Remedies  

 

The Participating Institution agrees that: 

	
  

 	
  

 
	
 (A)

 	
 (without prejudice
 to any other rights or remedies which any Government Department may have)
 damages would not be an adequate remedy for any breach by the Participating
 Institution of the provisions of this Deed Poll and each Government
 Department shall be entitled to seek the remedies of injunction, specific
 performance and other equitable relief for any threatened or actual breach of
 any such provision by the Participating Institution and no proof of special
 damages shall be necessary for the enforcement by any Government Department
 of its rights under this Deed Poll; 

 
	
  

 	
  

 
	
 (B)

 	
 no failure of any
 Government Department to exercise, and no delay by any Government Department
 in exercising, any right, power or remedy in connection with this Deed Poll
 will operate as a waiver thereof, nor will any single or partial exercise of
 any such right preclude any other or further exercise of such right or the
 exercise of any other right; and 

 
	
  

 	
  

 
	
 (C)

 	
 the rights
 provided in this Deed Poll are cumulative and not exclusive of any rights
 (whether provided by law or otherwise). 

 
	
  

 	
  

 
	
 12.4

 	
 Invalidity
 

 

If any provision of this Deed Poll shall be held to be illegal, invalid
or unenforceable, in whole or in part, under any enactment or rule of law, such
provision or part shall to that extent be deemed not to form part of this Deed
Poll but the legality, validity and enforceability of the remainder of this
Deed Poll shall not be affected. 

	
  

 	
  

 
	
 12.5

 	
 Assignment
 

 

The Participating Institution agrees that each of the Government
Departments may assign their respective rights under this Deed Poll to: (i) a
governmental, quasi-governmental or regulatory body; or (ii) a body or entity
established by, or owned by, one or more of the Government Departments
(including any body or entity established to monitor and administer the APS). 

	
  

 	
  

 
	
 12.6

 	
 Variation
 

 

Any term of this Deed Poll may be amended, and the
    observance of any term of this Deed Poll may be waived; (either generally
    or in a particular instance and either retroactively or
prospectively), only with the written consent of the Government Departments. 

14

Conformed copy (redacted) 

	
  

 	
  

 
	
 12.7

 	
 Governing
 law 

 

This Deed Poll and any non-contractual obligations arising out of or in
connection with it shall be governed by and construed in accordance with the
laws of England. 

15

Conformed copy (redacted) 

IN WITNESS WHEREOF this Deed Poll has been executed and delivered as a
deed on 6 March 2009.  

	
  

 	
  

 	
  

 	
  

 
	
 Executed and
 delivered as a deed by

 	
 )

 	
  

 	
  

 
	
 LLOYDS
 BANKING GROUP PLC

 	
 )

 	
  

 	
  

 
	
 acting by two
 directors / one director and its

 	
 )

 	
 By:

 	
 Sir Victor Blank

 
	
 secretary

 	
 )

 	
  

 	
  

 
	
  

 	
 )

 	
  

 	
 Chairman

 
	
  

 	
 )

 	
  

 	
  

 
	
  

 	
 )

 	
  

 	
  

 
	
  

 	
 )

 	
  

 	
  

 
	
  

 	
 )

 	
 By:

 	
 J. Eric Daniels

 
	
  

 	
 )

 	
  

 	
  

 
	
  

 	
 )

 	
  

 	
 Group Chief
 Executive

 

16

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