Document:

bioc-ex107_260.htm

 

EXHIBIT 10.7

EMPLOYMENT AGREEMENT

This Employment Agreement (this “Agreement”) is entered into by and between Biocept, Inc., a Delaware corporation (the “Company”), and Cory Dunn(“Employee”), and shall be effective as of February 1, 2020 (the “Effective Date”). 

Whereas, the Company desires to ensure Employee continues her employment by the Company, and Employee desires to continue employment with the Company, on the terms and conditions set forth in this Agreement.

Now, Therefore, in consideration of the mutual promises herein contained, the parties agree as follows: 

1.Employment Period.  Employee’s employment as a Senior Vice President, Commercial Operations (“SVP, Commercial Operations”) hereunder shall commence on the Effective Date and shall continue until terminated pursuant to Section 4 below.  The parties agree that nothing contained in this Agreement shall apply to Employee’s employment with Company prior to the Effective Date.

2.Services to Be Rendered.

(a)Duties and Responsibilities.  As of the Effective Date, Employee shall serve as the SVP, Commercial Operations for the Company.  In the performance of such duties, Employee shall report directly to the Chief Executive Officer of the Company (the “CEO”) and shall be subject to the direction of the CEO and to such limits upon Employee’s authority as the SVP, Commercial Operations may from time to time impose.  Employee shall be subject to and comply with the policies and procedures generally applicable to employees of the Company to the extent the same are not inconsistent with this Agreement.

(b)Exclusive Services.  Employee shall at all times faithfully, industriously and to the best of her ability, experience and talent perform to the satisfaction of the CEO, and the Board of Directors of the Company (the “Board”) all of the duties that may be assigned to Employee hereunder and, unless approved in writing in advance by the CEO, shall devote one hundred percent (100%) of her productive time and efforts to the performance of such duties.  Subject to the terms of the Employee Proprietary Information and Inventions Agreement referred to in Section 5(b), this shall not preclude Employee from devoting time to personal and family investments or serving on community and civic boards, or participating in industry associations, provided such activities do not interfere with her duties to the Company, as determined in good faith by the Board.  Employee agrees that she will not join any boards without the prior approval of the Board.

3.Compensation and Benefits.  The Company shall continue to pay or provide, as the case may be, to Employee the compensation and other benefits and rights set forth in this Section 3.

1Employee: _____CD_________________

 

Company: _____MN_________________

 

(a)Base Salary.  As compensation for services as SVP, Commercial Operations, Employee will be paid a salary of Two Hundred Fifty Thousand ($250,000) Dollars per year, which shall be payable, less any required payroll deductions and withholdings in regular periodic payments in accordance with the Company’s policy.  Employee’s base salary shall be subject to review annually by and at the sole discretion of the Company.

(b)Commissions.  Employee shall be entitled to receive commissions in accordance with the Company’s written commission plan.

(c)Benefits.  Employee shall be entitled to participate in benefits under the Company’s benefit plans and arrangements, including, without limitation, any employee benefit plan or arrangement made available by the Company to its employees, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements.  The Company shall have the right to amend or delete any such benefit plan or arrangement made available by the Company to its employees and not otherwise specifically provided for herein.

(d)Expenses.  The Company shall reimburse Employee for reasonable out-of-pocket business expenses incurred in connection with the performance of her duties hereunder, subject to such policies as the Company may from time to time establish, and Employee furnishing the Company with evidence in the form of receipts satisfactory to the Company substantiating the claimed expenditures.

(e)Paid Time Off.  Employee shall be entitled to such periods of paid time off (“PTO”) each year as provided under the Company’s PTO policy.  Should Employee’s employment terminate for any reason, Employee shall be entitled to unpaid PTO as of the date of termination of this Agreement.  

(f)Equity Plans.  Employee shall be entitled to continue to participate in any equity or other employee benefit plan that is generally available to employees.  Except as otherwise provided in this Agreement, Employee’s participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan.    Except as otherwise set forth herein, twenty-five percent (25%) of the Option will vest on the one-year anniversary of the commencement of Employee’s employment with the Company, and the remaining portion of the Option shall vest in equal quarterly installments over the following three (3) years.  

4.At-Will Employment; Termination; Severance.  

(a)At-Will Employment.  Employee’s employment relationship is at-will. Either Employee or the Company may terminate the employment relationship at any time, with or without Cause (as defined below) or advance notice.

(b)Termination Without Cause; Resignation for Good Reason (other than in connection with a Change in Control). In the event Employee’s employment with the Company is terminated by the Company without Cause, or Employee resigns for Good Reason (as defined below), in either case at any time other than during the three (3) months before a Change in Control (as defined below) or during the twelve (12) months following a Change in Control, 

2Employee: _____CD_________________

 

Company: _____MN_________________

 

then provided such termination constitutes a “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition thereunder, a “Separation from Service”), and provided that Employee complies with the conditions set forth in Section 4(e), the Company shall provide Employee with the following severance benefits:

(i)Severance pay in the form of a single lump sum payment equal to three (3) months of Employee’s base salary (the “Cash Severance”). Such payment shall be calculated ignoring any decrease in Employee’s base salary that forms the basis for Employee’s resignation for Good Reason and shall be paid in a lump sum on the sixtieth (60th) day following Employee’s Separation from Service.  

(ii)If Employee is eligible for and timely elects continued group health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) following Employee’s termination, the Company will pay the COBRA group health insurance premiums for Employee and Employee’s eligible dependents until the earliest of (A) the close of the three-month period following the termination of Employee’s employment (the “COBRA Payment Period”), (B) the expiration of Employee’s eligibility for the continuation coverage under COBRA, or (C) the date when Employee becomes eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. References to COBRA premiums shall not include any amounts payable by Employee under an Internal Revenue Code Section 125 health care reimbursement plan. Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that it cannot pay the COBRA premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then regardless of whether Employee elects continued health coverage under COBRA, in lieu of providing the COBRA premiums, the Company will instead pay to Employee, on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), which payments shall continue until the earlier of expiration of the COBRA Payment Period or the date when Employee becomes eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment.

(c)Termination Without Cause; Resignation for Good Reason (in connection with a Change in Control). If Employee is terminated without Cause or if Employee resigns for Good Reason at any time within the three (3) months prior to or twelve (12) months following a Change in Control, then provided such termination constitutes a Separation from Service and provided that Employee complies with the conditions set forth in Section 4(e), then Company shall provide Employee with the following severance benefits:

(i)The Cash Severance described in Section 4(b)(i);

(ii)The COBRA benefits described in Section 4(b)(ii); and

(iii)Notwithstanding any contrary terms of any stock option grant, option agreement or other equity award agreement between the Company and Employee, all outstanding stock options and other equity awards covering the Company’s common stock held by Employee as of the date of termination that are subject to time-based vesting requirements shall 

3Employee: _____CD_________________

 

Company: _____MN_________________

 

accelerate in full. In order to give effect to the foregoing provision, notwithstanding anything to the contrary set forth in Employee’s equity award agreements, following any termination of Employee’s employment that is without Cause or for Good Reason, none of Employee’s equity awards shall terminate with respect to any vested or unvested portion subject to such award before the later of (A) the Separation Agreement Deadline or (B) three (3) months following Employee’s termination.

For the avoidance of doubt, in no event shall Employee be entitled to benefits under both Section 4(b) and this Section 4(c). If Employee is eligible for benefits under both Section 4(b) and this Section 4(c), Employee shall receive the benefits set forth in this Section 4(c) and such benefits will be reduced by any benefits previously provided to Employee under Section 4(b). 

(d)Related Entity. Notwithstanding anything in this Agreement to the contrary, in no event shall Employee be entitled to benefits under either Section 4(b) or Section 4(c) in connection with any termination, resignation or change in Employee’s employment with the Company or any of its affiliates that is effected in connection with Employee’s employment, or engagement as a consultant, by an entity formed by or for the benefit of the Company for the purpose of engaging physicians to perform services related to the Company’s business or otherwise for the purpose of benefitting the Company’s business.

(e)Conditions to Receipt of Severance Benefits. The receipt of any and all severance benefits under this Agreement is expressly subject to and conditioned upon Employee signing and not revoking a separation agreement and release of claims in a form provided by the Company (the “Separation Agreement”) within the applicable time period set forth therein, and permitting such Separation Agreement to become fully effective in accordance with its terms, which shall in no event be later than sixty (60) days following Employee’s Separation from Service (the “Separation Agreement Deadline”). No severance benefits will be paid unless and until the Separation Agreement becomes effective. As a condition to the receipt of severance benefits, Employee shall also be required to comply with the terms of this Agreement and the terms of the Employee Proprietary Information and Inventions Agreement referred to in Section 5(b) and Employee must resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its affiliates, each effective on the date of termination. 

(f)Section 409A. It is the intent for all payments and benefits under this Agreement to be exempt from the application of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and any regulations and guidance that has been promulgated or may be promulgated from time to time thereunder and any state law of similar effect (collectively “Section 409A”) or, if not exempt, to comply with the requirements of Section 409A so that none of the payments and benefits will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to so comply. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the U.S. Treasury Regulations. Specifically, it is intended that all of the severance benefits and other payments payable under this Agreement satisfy, to the greatest extent possible, the exemptions from Section 409A provided under Treasury Regulations 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9), and this Agreement will be construed to the greatest extent possible as consistent with those provisions. Notwithstanding any provision to the contrary 

4Employee: _____CD_________________

 

Company: _____MN_________________

 

in this Agreement, if Employee is deemed by the Company at the time of Employee’s Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, and if any of the payments upon Separation from Service set forth herein and/or under any other agreement with the Company are deemed to be “deferred compensation”, then to the extent delayed commencement of any portion of such payments is required in order to adverse taxation under Section 409A, such payments shall not be provided to Employee prior to the earliest of (i) the expiration of the six-month period measured from the date of Employee’s Separation from Service with the Company, (ii) the date of Employee’s death or (iii) such earlier date as permitted under Section 409A without the imposition of adverse taxation. Upon the first business day following the expiration of such applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this paragraph shall be paid in a lump sum to Employee, and any remaining payments due shall be paid as otherwise provided herein or in the applicable agreement. No interest shall be due on any amounts so deferred.

(g)Section 280G.  If any payment or benefit Employee will or may receive from the Company or otherwise (a “280G Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then any such 280G Payment (a “Payment”) shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion of the Payment (after reduction) being subject to the Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount (i.e., the amount determined by clause (x) or by clause (y)), after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Employee’s receipt, on an after-tax basis, of the greater economic benefit notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in a Payment is required pursuant to the preceding sentence and the Reduced Amount is determined pursuant to clause (x) of the preceding sentence, the reduction shall occur in the manner (the “Reduction Method”) that results in the greatest economic benefit for Employee. If more than one method of reduction will result in the same economic benefit, the items so reduced will be reduced pro rata.

Unless Employee and the Company agree on an alternative accounting firm or law firm, the accounting firm engaged by the Company for general tax compliance purposes as of the day prior to the effective date of the Change in Control shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall appoint a nationally recognized accounting or law firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting or law firm required to be made hereunder. The Company shall use commercially reasonable efforts to cause the accounting or law firm engaged to make the determinations hereunder to provide its calculations, together with detailed supporting documentation, to Employee and the Company within fifteen (15) calendar days after the date on which Employee’s right to a 280G Payment becomes reasonably likely to occur (if requested at that time by Employee or the Company) or such other time as requested by Employee or the Company.

If Employee receives a Payment for which the Reduced Amount was determined pursuant to clause (x) of the first paragraph of this Section 4(g) and the Internal Revenue Service determines 

5Employee: _____CD_________________

 

Company: _____MN_________________

 

thereafter that some portion of the Payment is subject to the Excise Tax, Employee agrees to promptly return to the Company a sufficient amount of the Payment (after reduction pursuant to clause (x) of the first paragraph of this Section 4(g) so that no portion of the remaining Payment is subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount was determined pursuant to clause (y) or clause (x) of the first paragraph of this Section 4(g), Employee shall have no obligation to return any portion of the Payment pursuant to the preceding sentence.

(h)Definitions.

(i)Cause. For purposes of this Agreement, “Cause” for termination will mean: (i) the commission of an act of fraud, embezzlement or dishonesty by Employee that has a material adverse impact on the Company or any successor or affiliate thereof; (ii) a conviction of, or plea of “guilty” or “no contest” to, a felony by Employee; (iii) any unauthorized use or disclosure by Employee of confidential information or trade secrets of the Company or any successor or affiliate thereof that has a material adverse impact on any such entity; (iv) Employee’s gross negligence, insubordination or material violation of any duty of loyalty to the Company or any other material misconduct on the part of Employee; (v) Employee’s ongoing and repeated failure or refusal to perform or neglect of Employee’s duties as required by this Agreement, which failure, refusal or neglect continues for fifteen (15) days following Employee’s receipt of written notice from the SVP – Commercial, CEO of any member of the Board stating with specificity the nature of such failure, refusal or neglect; or (vi) Employee’s breach of any material provision of this Agreement, Employee Handbook, Code of Ethical Business Conduct or the Employee Proprietary Information and Inventions Agreement referred to in Section 5(b); provided, however, that prior to the determination that “Cause” has occurred, if the Board determines in good faith that Employee’s action or breach is remediable, the Company shall (1) provide to Employee in writing, in reasonable detail, the reasons for the determination that such “Cause” exists, (2) other than with respect to clause (v) above which specifies the applicable period of time for Employee to remedy her breach, afford Employee a reasonable opportunity to remedy any such breach, and only to the extent such breach is remediable, in the good faith determination of the Board, (3) provide Employee an opportunity to be heard prior to the final decision to terminate Employee’s employment hereunder for such “Cause” and (4) make any decision that such “Cause” exists in good faith.

(ii)Good Reason. For purposes of this Agreement, Employee shall have “Good Reason” for resignation from employment with the Company if any of the following actions are taken by the Company without Employee’s prior written consent: (i) a material reduction in Employee’s base salary (unless pursuant to a salary reduction program applicable generally to the Company’s similarly situated employees); (ii) a material reduction in Employee’s duties, authorities or responsibilities; (iii) the relocation of Employee’s principle place of employment that causes an increase in Employee’s one-way driving distance by more than fifty (50) miles; or (iv) the Company’s material breach of a material term of this Agreement. In order to resign for Good Reason, Employee must provide written notice to the Company within thirty (30) days after the first occurrence of the event giving rise to Good Reason setting forth the basis for Employee’s resignation, allow the Company at least thirty (30) days from receipt of such written notice to cure such event, and if such event is not reasonably cured within such period, Employee must resign from all positions Employee then holds with the Company not later than thirty (30) days after the expiration of the cure period.

6Employee: _____CD_________________

 

Company: _____MN_________________

 

(iii)Change in Control. For purposes of this Agreement, “Change in Control” shall mean: (i) a merger or consolidation of the Company with or into any other corporation or other entity or person; (ii) a sale, lease, exchange or other transfer in one transaction or a series of related transactions of all or substantially all of the Company’s assets; or (iii) any other transaction, including the sale by the Company of new shares of its capital stock or a transfer of existing shares of capital stock of the Company, the result of which is that a third party that is not an affiliate of the Company or its stockholders (or a group of third parties not affiliated with the Company or its stockholders) immediately prior to such transaction acquires or holds capital stock of the Company representing a majority of the Company’s outstanding voting power immediately following such transaction; provided that the following events shall not constitute a “Change in Control”: (A) a transaction (other than a sale of all or substantially all of the Company’s assets) in which the holders of the voting securities of the Company immediately prior to the merger or consolidation hold, directly or indirectly, at least a majority of the voting securities in the successor corporation or its parent immediately after the merger or consolidation; (B) a sale, lease, exchange or other transaction in one transaction or a series of related transactions of all or substantially all of the Company’s assets to an affiliate of the Company; (C) a reincorporation of the Company solely to change its jurisdiction; or (D) a transaction undertaken for the primary purpose of creating a holding company that will be owned in substantially the same proportion by the persons who held the Company’s securities immediately before such transaction.

(i)Return of the Company’s Property.  If Employee’s employment is terminated for any reason, the Company shall have the right, at its option, to require Employee to vacate her offices prior to or on the effective date of termination and to cease all activities on the Company’s behalf.  Upon the termination of her employment in any manner, Employee shall immediately surrender to the Company all lists, books and records of, or in connection with, the Company’s business, and all other property belonging to the Company, it being distinctly understood that all such lists, books and records, and other documents, are the property of the Company.  Employee shall deliver to the Company a signed statement certifying compliance with this Section 4(i).

5.Certain Covenants.

(a)Noncompetition.  Except as may otherwise be approved by the Board, during the term of Employee’s employment, Employee shall not have any ownership interest (of record or beneficial) in, or have any interest as an employee, salesman, consultant, officer or director in, or otherwise aid or assist in any manner, any firm, corporation, partnership, proprietorship or other business that engages in any county, city or part thereof in the United States and/or any foreign country in a business which competes directly or indirectly (as determined by the Board) with the Company’s business in such county, city or part thereof, so long as the Company, or any successor in interest of the Company to the business and goodwill of the Company, remains engaged in such business in such county, city or part thereof or continues to solicit customers or potential customers therein; provided, however, that Employee may own, directly or indirectly, solely as an investment, securities of any entity which are traded on any national securities exchange if Employee (x) is not a controlling person of, or a member of a group which controls, such entity; or (y) does not, directly or indirectly, own one percent (1%) or more of any class of securities of any such entity. 

7Employee: _____CD_________________

 

Company: _____MN_________________

 

(b)Confidential Information.  Employee and the Company shall enter into the Company’s standard employee proprietary information and inventions agreement (the “Employee Proprietary Information and Inventions Agreement”).  Employee agrees to perform each and every obligation of Employee therein contained.

(c)Solicitation of Employees.  Employee shall not during the term of Employee’s employment (the “Restricted Period”), directly or indirectly, solicit or encourage to leave the employment of the Company or any of its affiliates, any employee of the Company or any of its affiliates.

(d)Solicitation of Consultants.  Employee shall not during the Restricted Period, directly or indirectly, hire, solicit or encourage to cease work with the Company or any of its affiliates any consultant then under contract with the Company or any of its affiliates within one (1) year of the termination of such consultant’s engagement by the Company or any of its affiliates.

(e)Rights and Remedies Upon Breach.  If Employee breaches or threatens to commit a breach of any of the provisions of this Section 5 (the “Restrictive Covenants”), the Company shall have the following rights and remedies, each of which rights and remedies shall be independent of the other and severally enforceable, and all of which rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under law or in equity:

(i)Specific Performance.  The right and remedy to have the Restrictive Covenants specifically enforced by any court having equity jurisdiction, all without the need to post a bond or any other security or to prove any amount of actual damage or that money damages would not provide an adequate remedy, it being acknowledged and agreed that any such breach or threatened breach will cause irreparable injury to the Company and that money damages will not provide adequate remedy to the Company; and

(ii)Accounting and Indemnification.  The right and remedy to require Employee: (i) to account for and pay over to the Company all compensation, profits, monies, accruals, increments or other benefits derived or received by Employee or any associated party deriving such benefits as a result of any such breach of the Restrictive Covenants; and (ii) to indemnify the Company against any other losses, damages (including special and consequential damages), costs and expenses, including actual attorneys’ fees and court costs, which may be incurred by them and which result from or arise out of any such breach or threatened breach of the Restrictive Covenants.

(f)Severability of Covenants/Blue Penciling.  If any court determines that any of the Restrictive Covenants, or any part thereof, is invalid or unenforceable, the remainder of the Restrictive Covenants shall not thereby be affected and shall be given full effect, without regard to the invalid portions.  If any court determines that any of the Restrictive Covenants, or any part thereof, are unenforceable because of the duration of such provision or the area covered thereby, such court shall have the power to reduce the duration or area of such provision and, in its reduced form, such provision shall then be enforceable and shall be enforced.  Employee hereby waives 

8Employee: _____CD_________________

 

Company: _____MN_________________

 

any and all right to attack the validity of the Restrictive Covenants on the grounds of the breadth of their geographic scope or the length of their term.

(g)Enforceability in Jurisdictions.  The Company and Employee intend to and do hereby confer jurisdiction to enforce the Restrictive Covenants upon the courts of any jurisdiction within the geographical scope of such covenants.  If the courts of any one or more of such jurisdictions hold the Restrictive Covenants wholly unenforceable by reason of the breadth of such scope or otherwise, it is the intention of the Company and Employee that such determination not bar or in any way affect the right of the Company to the relief provided above in the courts of any other jurisdiction within the geographical scope of such covenants, as to breaches of such covenants in such other respective jurisdictions, such covenants as they relate to each jurisdiction being, for this purpose, severable into diverse and independent covenants.

(h)Definitions.  For purposes of this Section 5, the term “Company” means not only Biocept, Inc., but also any company, partnership or entity which, directly or indirectly, controls, is controlled by or is under common control with Biocept, Inc.

6.Insurance.  The Company shall have the right to take out life, health, accident, “key-man” or other insurance covering Employee, in the name of the Company and at the Company’s expense in any amount deemed appropriate by the Company.  Employee shall assist the Company in obtaining such insurance, including, without limitation, submitting to any required examinations and providing information and data required by insurance companies.

7.Arbitration.  Any dispute, claim or controversy based on, arising out of or relating to Employee’s employment or this Agreement shall be settled by final and binding arbitration in San Diego, California, before a single neutral arbitrator in accordance with the National Rules for the Resolution of Employment Disputes (the “Rules”) of the American Arbitration Association, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction.  Arbitration may be compelled pursuant to the California Arbitration Act (Code of Civil Procedure §§ 1280 et seq.).  If the parties are unable to agree upon an arbitrator, one shall be appointed by the AAA in accordance with the Rules.  Each party shall pay the fees of its own attorneys, the expenses of its witnesses and all other expenses connected with presenting its case; however, Employee and the Company agree that, to the extent permitted by law, the arbitrator may, in his or her discretion, award reasonable attorneys’ fees to the prevailing party; provided, further, that the prevailing party shall be reimbursed for such fees, costs and expenses within 45 days following any such award, but in no event later than the last day of Employee’s taxable year following the taxable year in which the fees, costs and expenses were incurred; provided, further, that the parties’ obligations pursuant to this sentence shall terminate on the 10th anniversary of the date of Employee’s termination of employment.  Other costs of the arbitration, including the cost of any record or transcripts of the arbitration, AAA’s administrative fees, the fee of the arbitrator, and all other fees and costs, shall be borne by the Company.  This Section 7 is intended to be the exclusive method for resolving any and all claims by the parties against each other for payment of damages under this Agreement or relating to Employee’s employment; provided, however, that Employee shall retain the right to file administrative charges with or seek relief through any government agency of competent jurisdiction, and to participate in any government investigation, including but not limited to (i) claims for workers’ compensation, state disability insurance or unemployment insurance; (ii) claims for unpaid wages or waiting time 

9Employee: _____CD_________________

 

Company: _____MN_________________

 

penalties brought before the California Division of Labor Standards Enforcement; provided, however, that any appeal from an award or from denial of an award of wages and/or waiting time penalties shall be arbitrated pursuant to the terms of this Agreement; and (iii) claims for administrative relief from the United States Equal Employment Opportunity Commission and/or the California Department of Fair Employment and Housing (or any similar agency in any applicable jurisdiction other than California); provided, further, that Employee shall not be entitled to obtain any monetary relief through such agencies other than workers’ compensation benefits or unemployment insurance benefits.  This Agreement shall not limit either party’s right to obtain any provisional remedy, including, without limitation, injunctive or similar relief, from any court of competent jurisdiction as may be necessary to protect their rights and interests pending the outcome of arbitration, including without limitation injunctive relief, in any court of competent jurisdiction pursuant to California Code of Civil Procedure § 1281.8 or any similar statute of an applicable jurisdiction.  Seeking any such relief shall not be deemed to be a waiver of such party’s right to compel arbitration.  Both Employee and the Company expressly waive their right to a jury trial.

8.General Relationship.  Employee shall be considered an employee of the Company within the meaning of all federal, state and local laws and regulations including, but not limited to, laws and regulations governing unemployment insurance, workers’ compensation, industrial accident, labor and taxes.

9.Miscellaneous.

(a)Modification; Prior Claims.  This Agreement sets forth the entire understanding of the parties with respect to the subject matter hereof, supersedes all existing agreements between them concerning such subject matter, including any offer letter between the Company and Employee, and may be modified only by a written instrument duly executed by each party.

(b)Assignment; Assumption by Successor.  The rights of the Company under this Agreement may, without the consent of Employee, be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company.  The Company will require any successor (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations hereunder.  As used in this Agreement, the “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise.

(c)Survival.  The covenants, agreements, representations and warranties contained in or made in Sections 5, 7 and 9 of this Agreement shall survive any termination of Employee’s employment.

10Employee: _____CD_________________

 

Company: _____MN_________________

 

(d)Third-Party Beneficiaries.  This Agreement does not create, and shall not be construed as creating, any rights enforceable by any person not a party to this Agreement.

(e)Waiver.  The failure of either party hereto at any time to enforce performance by the other party of any provision of this Agreement shall in no way affect such party’s rights thereafter to enforce the same, nor shall the waiver by either party of any breach of any provision hereof be deemed to be a waiver by such party of any other breach of the same or any other provision hereof.

(f)Section Headings.  The headings of the several sections in this Agreement are inserted solely for the convenience of the parties and are not a part of and are not intended to govern, limit or aid in the construction of any term or provision hereof.

(g)Notices.  Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated: (i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification of receipt; (iii) by email or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv) by certified or registered mail, return receipt requested, upon verification of receipt.  Notice shall be sent to Employee at the address listed on the Company’s personnel records and to the Company at its principal place of business, or such other address as either party may specify in writing.

(h)Severability.  All Sections, clauses and covenants contained in this Agreement are severable, and in the event any of them shall be held to be invalid by any court, this Agreement shall be interpreted as if such invalid Sections, clauses or covenants were not contained herein.

(i)Governing Law and Venue.  This Agreement is to be governed by and construed in accordance with the laws of the State of Employee’s residence applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof.  Except as provided in Section 5 and 7, any suit brought hereon shall be brought in the state or federal courts sitting in San Diego, California, the parties hereto hereby waiving any claim or defense that such forum is not convenient or proper.  Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by California law.

(j)Non-transferability of Interest.  None of the rights of Employee to receive any form of compensation payable pursuant to this Agreement shall be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution upon the death of Employee.  Any attempted assignment, transfer, conveyance, or other disposition (other than as aforesaid) of any interest in the rights of Employee to receive any form of compensation to be made by the Company pursuant to this Agreement shall be void.

(k)Gender.  Where the context so requires, the use of the masculine gender shall include the feminine and/or neuter genders and the singular shall include the plural, and vice versa, and the word “person” shall include any corporation, firm, partnership or other form of association.

11Employee: _____CD_________________

 

Company: _____MN_________________

 

(l)Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Agreement.  Electronically delivered signatures shall be as effective as original signatures.

(m)Construction.  The language in all parts of this Agreement shall in all cases be construed simply, according to its fair meaning, and not strictly for or against any of the parties hereto.  Without limitation, there shall be no presumption against any party on the ground that such party was responsible for drafting this Agreement or any part thereof.

(n)Withholding and other Deductions.  All compensation payable to Employee hereunder shall be subject to such deductions as the Company is from time to time required to make pursuant to law, governmental regulation or order.

In Witness Whereof, the parties have executed this Agreement as of the Effective Date.

Biocept, Inc.

By: ___/s/ Michael W. Nall__________________
Name: Michael W. Nall
Title:  President and Chief Executive Officer

Employee

              /s/ Cory Dunn
Print Name: Cory Dunn

12Employee: _____CD_________________

 

Company: _____MN_________________EX-4.2

 Exhibit 4.2 

Execution Version 

S&P GLOBAL INC. 

STANDARD & POOR’S FINANCIAL SERVICES LLC, 

as Guarantor 
 1.250%
Senior Notes due 2030 
 2.300% Senior Notes due 2060 

SIXTH SUPPLEMENTAL INDENTURE 

Dated as of August 13, 2020 

to the Indenture Dated as of May 26, 2015 

U.S. BANK NATIONAL ASSOCIATION, as Trustee 

 TABLE OF CONTENTS 

 

							
	 	  	PAGE	 
		  	ARTICLE 1	  			
		  	DEFINITIONS	  			
			
	 Section 1.01.
	  	Certain Terms Defined in the Indenture; Additional Terms	  	 	2	 
			
		  	ARTICLE 2	  			
		  	FORM AND TERMS OF THE NOTES	  			
			
	 Section 2.01.
	  	Form and Dating	  	 	5	 
	 Section 2.02.
	  	Paying Agent; Depository	  	 	6	 
	 Section 2.03.
	  	Registration	  	 	6	 
	 Section 2.04.
	  	Transfer and Exchange	  	 	7	 
	 Section 2.05.
	  	Terms of the Notes	  	 	7	 
	 Section 2.06.
	  	Optional Redemption	  	 	8	 
	 Section 2.07.
	  	Offer to Repurchase Upon a Change of Control Triggering Event	  	 	9	 
			
		  	ARTICLE 3	  			
		  	SUPPLEMENTAL INDENTURE	  			
			
	 Section 3.01.
	  	Supplemental Indentures Without Consent of Holders	  	 	11	 
			
		  	ARTICLE 4	  			
		  	GUARANTEE	  			
			
	 Section 4.01.
	  	Release of Guarantor from Guarantee	  	 	11	 
			
		  	ARTICLE 5	  			
		  	MISCELLANEOUS	  			
			
	 Section 5.01.
	  	Trust Indenture Act Controls	  	 	12	 
	 Section 5.02.
	  	Governing Law	  	 	12	 
	 Section 5.03.
	  	Payment of Notes	  	 	12	 
	 Section 5.04.
	  	Multiple Counterparts	  	 	12	 
	 Section 5.05.
	  	Severability	  	 	12	 
	 Section 5.06.
	  	Relation to Indenture	  	 	12	 
	 Section 5.07.
	  	Ratification	  	 	13	 
	 Section 5.08.
	  	Effectiveness	  	 	13	 
	 Section 5.09.
	  	Trustee Not Responsible for Recitals or Issuance of Securities	  	 	13	 

 EXHIBITS 
  

			
	 EXHIBIT A
	  	 Forms of Notes

	 EXHIBIT B
	  	 DTC Legend

  
 i 

 SIXTH SUPPLEMENTAL INDENTURE 

SIXTH SUPPLEMENTAL INDENTURE (this “Sixth Supplemental Indenture”), dated as of August 13, 2020, among S&P GLOBAL
INC., a New York corporation (the “Company”), having its principal executive offices at 55 Water Street, New York, New York 10041, STANDARD & POOR’S FINANCIAL SERVICES LLC, a Delaware limited liability company, as
guarantor hereunder (the “Guarantor”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”). 

RECITALS 
 WHEREAS, the
Company, the Guarantor and the Trustee executed and delivered an Indenture, dated as of May 26, 2015 (the “Indenture”), to provide for the issuance by the Company from time to time of Securities to be issued in one or more
series as provided in the Indenture; 
 WHEREAS, the issuance and sale of $600,000,000 aggregate principal amount of a new series of the
Securities of the Company designated as its 1.250% Senior Notes due 2030 and, if and when issued, any Additional Notes as provided herein (the “2030 Notes”) and $700,000,000 aggregate principal amount of a new series of the
Securities of the Company designated as its 2.300% Senior Notes due 2060 and, if and when issued, any Additional Notes as provided herein (the “2060 Notes” and, together with the 2030 Notes, the “Notes”), to be
fully and unconditionally guaranteed by the Guarantor, have been authorized by resolutions adopted by the Board of Directors of the Company and the Board of Managers of the Guarantor; 

WHEREAS, the Company desires to issue and sell $600,000,000 aggregate principal amount of the 2030 Notes and $700,000,000 aggregate principal
amount of the 2060 Notes on the date hereof, each to be fully and unconditionally guaranteed by the Guarantor in accordance with Article 12 of the Indenture; 

WHEREAS, Sections 2.01 and 10.01 of the Indenture provide that the Company, when authorized by a Board Resolution, and the Trustee may amend
or supplement the Indenture to provide for the issuance of and to establish the form or terms and conditions of Securities of any series as permitted by the Indenture; 

WHEREAS, the Company desires to establish the form, terms and conditions of the Notes; and 

WHEREAS, all things necessary to make this Sixth Supplemental Indenture a legal, valid and binding supplement to the Indenture according to
its terms and the terms of the Indenture have been done; 
 NOW, THEREFORE, for and in consideration of the premises and the purchase of the
Notes by the Holders thereof, the Company, the Guarantor and the Trustee mutually covenant and agree, for the equal and proportionate benefit of all Holders of the Notes, as follows: 

  
 1 

 ARTICLE 1 

DEFINITIONS 

Section 1.01. Certain Terms Defined in the Indenture; Additional Terms. 

(a) For purposes of this Sixth Supplemental Indenture, all capitalized terms used but not defined herein shall have the meanings ascribed to
such terms in the Indenture, as amended hereby. 
 (b) The following capitalized terms used herein shall be defined accordingly: 

“Agent Member” means a member of, or a participant in, the Depository. 

“Additional Notes” shall have the meaning set forth in Section 2.05(b). 

“Below Investment Grade Rating Event” means the applicable series of Notes is rated below an Investment Grade Rating by each
of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of
the Change of Control (which 60-day period shall be extended so long as the rating of such series of Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies);
provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect to a particular Change of Control (and thus shall not be deemed a Below
Investment Grade Rating Event for purposes of the definition of Change of Control Triggering Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or
inform the Trustee or the Company in writing at the Trustee’s or the Company’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the
applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). The Trustee has no obligation to monitor or determine if any such event has occurred. 

“Certificated Note” means a Note in registered individual certificated form without interest coupons. 

“Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance
or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole to any person (as defined
in the Indenture, and in addition as that term is used in Section 13(d)(3) and Section 14(d)(2) of the Exchange Act) or group of related persons for purposes of Section 13(d) of the Exchange Act other than the Company or one of its
Subsidiaries; (2) the approval by the holders of the Company’s common stock of any plan or proposal for the liquidation or dissolution of the Company (whether or not otherwise in compliance with the provisions hereof); or (3) the
consummation of any transaction or series of related transactions (including, without limitation, any merger or consolidation) the result of which is that any person becomes the beneficial owner, directly or indirectly, of more than 50% of the then
outstanding number of shares of the Company’s Voting Stock. 

  
 2 

 “Change of Control Offer” has the meaning set forth in Section 2.07(a)
hereof. 
 “Change of Control Payment” has the meaning set forth in Section 2.07(a) hereof. 

“Change of Control Payment Date” has the meaning set forth in Section 2.07(b)(iii) hereof. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating
Event. 
 “Comparable Treasury Issue” means the U.S. treasury security selected by an Independent Investment Banker as
having a maturity comparable to the remaining term (the “Remaining Life”) of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of the Notes to be redeemed assuming in each case, as applicable, that the Notes to be redeemed matured on the applicable Par Call Date. 

“Comparable Treasury Price” means, with respect to any Optional Redemption Date, (1) the average of the Reference
Treasury Dealer Quotations for such Optional Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer
Quotations, the average of all such quotations, or, if only one such quotation is obtained, such quotation. 
 “Credit
Facility” means one or more (i) credit facilities with banks, investors, purchasers or other debtholders or other lenders providing for revolving credit loans or term loans or the issuance of letters of credit or bankers’
acceptances or the like, (ii) note purchase agreements and indentures providing for the sale of Debt securities or (iii) agreements that refinance any Debt incurred under any arrangement or agreement described in clause (i) or (ii) or
this clause (iii), including in each case any successor or replacement arrangement, arrangements, agreement or agreements. 

“DTC” means The Depository Trust Company. 

“DTC Legend” means the legend set forth in Exhibit B. 

“Fitch” means Fitch Ratings Ltd, and its successors. 

“Global Note” means a Note in registered global form without interest coupons. 

“Independent Investment Banker” means any of Goldman Sachs & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities
LLC and Morgan Stanley & Co. LLC as specified by the Company, or if these firms are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company, in
the Company’s sole discretion. 
 “interest,” in respect of the Notes, unless the context otherwise requires, refers
to interest. 

  
 3 

 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or
the equivalent) by Moody’s and equal to or higher than BBB- (or the equivalent) by Fitch (or, in each case, the equivalent investment grade credit rating from any Rating Agency). 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Optional Redemption Date” means any such date fixed for redemption pursuant to Section 2.06(a) or Section 2.06(b).

 “Par Call Date” means (i) May 15, 2030, in the case of the 2030 Notes, (ii) and February 15, 2060,
in the case of the 2060 Notes. 
 “Rating Agencies” means (1) Moody’s and Fitch; (2) if Moody’s or
Fitch ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of
Section 3(a)(62) of the Exchange Act, selected by the Company (as certified by a resolution of the Company’s board of directors) as a replacement agency for Moody’s or Fitch; and (3) at the Company’s option, any other
“nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Company (as certified by a resolution of the Company’s board of directors) to rate the Notes.

 “Redemption Price,” when used with respect to any Security to be redeemed, means the price specified in the Security at
which it is to be redeemed pursuant to this Indenture. 
 “Reference Treasury Dealer” means (1) any of Goldman
Sachs & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. government
securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer and (2) any three other Primary Treasury Dealers selected by the Company after consultation
with the Independent Investment Banker. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Optional Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third business day preceding such Optional Redemption Date. 

“Treasury Rate” means, with respect to any Optional Redemption Date, (a) the yield, under the heading which represents
the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System
and which establishes yields on actively traded U.S. treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is
within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated from such
yields 

  
 4 

 
on a straight line basis, rounding to the nearest month); or (b) if such release (or any successor release) is not published during the week preceding the calculation date or does not
contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Price for such Optional Redemption Date. 

ARTICLE 2 
 FORM AND
TERMS OF THE NOTES 
 Section 2.01. Form and Dating. (a) The Notes and the Trustee’s certificate of
authentication shall be substantially in the forms set forth on Exhibit A attached hereto. The Notes shall be executed on behalf of the Company by any Officer and attested by its Secretary or one of its Assistant Secretaries. The signature of any of
these Officers on the Notes may be manual, facsimile or by way of a digital signature provided by DocuSign (or such other digital signature provider as specified in writing to the Trustee by the Company), in English. The Company agrees to assume all
risks arising out of the use of using digital signatures and electronic methods to submit communications to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk of interception and
misuse by third parties. The Notes may have notations, legends or endorsements required by law, stock exchange rules or usage. Each Note shall be dated the date of its authentication. The Notes shall be in denominations of $2,000 and integral
multiples of $1,000, in excess thereof. 
 The terms and notations contained in the Notes shall constitute, and are hereby expressly made, a
part of the Indenture as supplemented by this Sixth Supplemental Indenture and the Company, the Guarantor and the Trustee, by their execution and delivery of this Sixth Supplemental Indenture, expressly agree to such terms and provisions and to be
bound thereby. 
 (b) Section 2.03(a) of the Indenture shall be modified with respect to the Notes as follows: 

(a) The Securities shall be executed on behalf of the Company by any Officer and attested by its Secretary or one of its Assistant
Secretaries. The signature of any of these Officers on the Securities may be manual, facsimile or by way of a digital signature provided by DocuSign (or such other digital signature provider as specified in writing to the Trustee by the Company), in
English. It shall not be necessary for the Securities of any series to be endorsed or executed by the Guarantor and such Securities shall nevertheless be entitled to the benefits of Article 12 hereof unless otherwise expressly determined pursuant to
Section 2.01(b)(xvii). 
 (c) Section 2.03(b) of the Indenture shall be modified with respect to the Notes as follows: 

(b) Securities bearing the manual, facsimile or electronic signatures of individuals who were at any time the proper Officers of the Company
shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

  
 5 

 Section 2.02. Paying Agent; Depository. (a) The Company hereby
appoints the Trustee as the initial agent of the Company for the payment of the principal of (and premium, if any) and interest on the Notes (the “Paying Agent”), and the office of the Trustee located in the Borough of Manhattan,
the City of New York, be and hereby is, designated as the office or agency where the Notes may be presented for payment and where notices to or demands upon the Company in respect of the Notes and the Indenture pursuant to which the Notes are to be
issued may be served. The Company may at any time designate additional paying agents or rescind the designation of any paying agent or approve a change in the office through which the paying agent acts. 

(b) The Depository shall initially be DTC and any and all successors thereto appointed as Depository by the Company. 

Section 2.03. Registration. (a) Each Global Note will be registered in the name of the Depository or its nominee and, so long
as DTC is serving as the Depository thereof, will bear the DTC Legend. 
 (i) Each Global Note will be delivered to the
Trustee as custodian for the Depository. Transfers of a Global Note (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the Depository, its successors or their respective nominees, except
(y) as set forth in (iii) of this Section 2.03(a) and (z) transfers of portions thereof in the form of Certificated Notes may be made upon request of an Agent Member (for itself or on behalf of a beneficial owner) by written
notice given to the Trustee by or on behalf of the Depository in accordance with customary procedures of the Depository and in compliance with this Section 2.03 and Section 2.04. 

(ii) Agent Members will have no rights under this Indenture with respect to any Global Note held on their behalf by the
Depository, and the Depository may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and Holder of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, the Depository or
its nominee may grant proxies and otherwise authorize any Person (including any Agent Member and any Person that holds a beneficial interest in a Global Note through an Agent Member) to take any action which a Holder is entitled to take under this
Indenture or the Notes, and nothing herein will impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a holder of any security. 

(iii) If (x) the Depository notifies the Company that it is unwilling or unable to continue as Depository for a Global
Note and a successor depositary is not appointed by the Company within 90 days of such notice or (y) an Event of Default has occurred and is continuing and the Trustee has received a written request from the Depository, the Trustee will
promptly exchange each beneficial interest in the Global Note for one or more Certificated Notes in authorized denominations having an equal aggregate principal amount registered in the name of the owner of such beneficial interest, as identified to
the Trustee by the Depository, and thereupon the Global Note will be deemed canceled. 

  
 6 

 (b) Each Certificated Note will be registered in the name of the Holder thereof or its
nominee. 
 Section 2.04. Transfer and Exchange. (a) The transfer or exchange of any Note (or a beneficial interest
therein) may only be made in accordance with this Section 2.04 and, in the case of a Global Note (or a beneficial interest therein), the applicable rules and procedures of the Depository. The Security Registrar shall refuse to register any
requested transfer or exchange that does not comply with the preceding sentence. 
 (b) The Trustee will retain copies of all certificates,
opinions and other documents received in connection with the transfer or exchange of a Note (or a beneficial interest therein), and the Company will have the right to inspect and make copies thereof at any reasonable time upon prior written notice
to the Trustee. 
 Section 2.05. Terms of the Notes. The following terms relating to the Notes are hereby established: 

(a) Title. The 2030 Notes shall constitute a series of Securities having the title “1.250% Senior Notes due 2030” and the
2060 Notes shall constitute a series of Securities having the title “2.300% Senior Notes due 2060.” 
 (b) Principal
Amount. The aggregate principal amount of the 2030 Notes that may be initially authenticated and delivered under the Indenture shall be $600,000,000. The aggregate principal amount of the 2060 Notes that may be initially authenticated and
delivered under the Indenture shall be $700,000,000. The Company may from time to time, without the consent of the Holders of Notes, issue additional Notes of a series (in any such case “Additional Notes”) having the same ranking
and the same interest rate, maturity and other terms as the Notes of such series, except for the issue date, the public offering price and, in some cases, the first Interest Payment Date and interest accrual date; provided that no Event of
Default with respect to such series of Notes shall have occurred and be continuing; provided further that if any such Additional Notes are not fungible with the Notes of such series initially issued hereunder for U.S. federal income tax
purposes, such Additional Notes shall have a separate CUSIP number. Any Additional Notes of a series and the existing Notes of such series will constitute a single series under the Indenture and all references to the relevant Notes of that series
shall include the Additional Notes of such series unless the context otherwise requires. 
 (c) Maturity Date. The entire outstanding
principal of the 2030 Notes shall be payable on August 15, 2030 and the entire outstanding principal of the 2060 Notes shall be payable on August 15, 2060. 

(d) Interest Rate. The rate at which the 2030 Notes shall bear interest shall be 1.250% per annum; the rate at which the 2060 Notes
shall bear interest shall be 2.300% per annum; the date from which interest shall accrue on the Notes shall be August 13, 2020, or the most recent Interest Payment Date to which interest has been paid or provided for; the Interest Payment Dates
for the Notes shall be February 15 and August 15 of each year, beginning 

  
 7 

 
February 15, 2021; the interest so payable, and punctually paid or duly provided for, on any Interest Payment Date, will be paid, in immediately available funds, to the Persons in whose
names the series of Notes (or one or more predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the February 1 or August 1, as the case may be, next preceding such
Interest Payment Date (whether or not a Business Day); provided that interest payable at the Stated Maturity or upon redemption will be paid to the person to whom principal is payable. Payment of principal and interest on the Notes will be
made at the Corporate Trust Office of the Trustee or such other office or agency of the Company as may be designated for such purpose, in such currency of the United States of America as at the time of payment is legal tender for payment of public
and private debts; provided, however, that each installment of interest and principal on the Notes may at the Company’s option be paid in immediately available funds by transfer to an account maintained by the payee located in the United
States of America. 
 (e) Currency. The currency of denomination of the Notes is United States Dollars. Payment of principal of and
interest and premium, if any, on the Notes will be made in United States Dollars. 
 Section 2.06. Optional Redemption.
(a) On or after the applicable Par Call Date, the Company may redeem the Notes, at its option, at any time in whole, or from time to time in part, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus
accrued and unpaid interest on such principal amount being redeemed to, but excluding, the Optional Redemption Date. 
 (b) Prior to the
applicable Par Call Date, the Company may redeem the Notes, at its option, at any time in whole, or from time to time in part, at a Redemption Price equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and
(2) the sum of the present values of the remaining scheduled payments of principal and interest on such Notes to be redeemed, exclusive of interest accrued to the Optional Redemption Date, assuming that the Notes to be redeemed matured on the
applicable Par Call Date, discounted to the Optional Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the
applicable Treasury Rate plus 12.5 basis points in the case of the 2030 Notes and 20 basis points in the case of the 2060 Notes, plus, in each case, accrued and unpaid interest on such principal amount being redeemed to, but excluding, the Optional
Redemption Date. 
 (c) The Treasury Rate shall be calculated on the third Business Day preceding the Optional Redemption Date. The Company
shall calculate the Redemption Price with respect to the Notes in accordance with the terms and provisions of this Indenture. 
 (d) On or
before any Optional Redemption Date for the Notes, the Company will deposit with a Paying Agent, or the Trustee, funds sufficient to pay the Redemption Price of and accrued and unpaid interest on such Notes to be redeemed on such date. If less than
all of the Notes of a series are to be redeemed, the Trustee shall select in accordance with the procedures of DTC (or in accordance with such other method that the Trustee deems appropriate if such Notes are then in certificated form), not more
than 60 days prior to the Optional Redemption Date the Notes of such series or portions Notes of such series to be redeemed. The Trustee may select for redemption Notes and portions of Notes in amounts of $1,000 and integral multiples of $1,000 in
excess thereof, provided that the unredeemed portion of any Note to be redeemed in part will not be less than $2,000, and shall thereafter promptly notify the Company in writing of the numbers of Notes to be redeemed, in whole or in part.

  
 8 

 (e) Notice of redemption shall be delivered not less than 15 nor more than 60 days prior to
the Optional Redemption Date, to each Holder of such series of Notes to be redeemed, at his address appearing in the Security Register. Notice of any redemption in connection with a corporate transaction that is pending (including an equity
offering, an incurrence of indebtedness or a Change of Control) may, at the Company’s discretion, be given subject to one or more conditions precedent, including, but not limited to, completion of such corporate transaction. If such redemption
is so subject to satisfaction of one or more conditions precedent, such notice shall describe each such condition, and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied or otherwise waived by the
Optional Redemption Date. The Company shall notify Holders of any such rescission as soon as practicable after determining that it will not be able satisfy or otherwise waive such conditions precedent. Once notice of redemption is mailed or sent,
subject to the satisfaction of any conditions precedent provided in the notice of redemption, the Notes called for redemption will become due and payable on the Optional Redemption Date and at the applicable Redemption Price, plus accrued and unpaid
interest to, but excluding, the Optional Redemption Date. 
 Section 2.07. Offer to Repurchase Upon a Change of Control Triggering
Event. (a) Upon the occurrence of a Change of Control Triggering Event, unless the Company has exercised its right to redeem all of a series of Notes pursuant to Section 2.06 hereof, each Holder of such series of Notes shall have the
right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes of such series pursuant to the offer described below (the “Change of Control
Offer”) on the terms set forth in the Notes of such series at a purchase price in cash equal to 101% of the aggregate principal amount of such series of Notes repurchased plus accrued and unpaid interest, if any, to the date of purchase
(the “Change of Control Payment”), pursuant to and in accordance with the offer described in this Section 2.07. 
 (b)
Within 30 days following any Change of Control Triggering Event, the Company shall deliver a notice to each Holder of Notes, with a written copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. Such notice shall
state: 
 (i) a description of the transaction or transactions that constitute the Change of Control Triggering Event; 

(ii) that the Change of Control Offer is being made pursuant to this Section 2.07 and that all Notes validly tendered will
be accepted for payment; 
 (iii) that the Change of Control Payment and the “Change of Control Payment Date,”
which shall be a Business Day that is no earlier than 30 days nor later than 60 days from the date such notice is mailed, other than as may be required by law; 

(iv) that any Note not tendered will continue to accrue interest; 

  
 9 

 (v) that any Note accepted for payment pursuant to the Change of Control
Offer shall cease to accrue interest after the Change of Control Payment Date unless the Company shall default in the payment of the Change of Control Payment of the Notes and the only remaining right of the Holder is to receive payment of the
Change of Control Payment upon surrender of the Notes to the Paying Agent; 
 (vi) that Holders electing to have a portion of
a Note purchased pursuant to a Change of Control Offer may only elect to have such Note purchased in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof; 

(vii) that if a Holder elects to have a Note purchased pursuant to the Change of Control Offer it will be required to surrender
the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, or transfer by book- entry transfer, to the Paying Agent at the address specified in the notice prior to the close of business on
the third Business Day prior to the Change of Control Payment Date; 
 (viii) that a Holder will be entitled to withdraw its
election if the Company receives, not later than the close of business on the third Business Day prior to the Change of Control Payment Date, a telegram, facsimile transmission or letter setting forth the name of such Holder, the principal amount of
Notes such Holder delivered for purchase, and a statement that such Holder is withdrawing its election to have such Note purchased; and 

(ix) that if Notes are purchased only in part, a new Note of such series of the same type will be issued in a principal amount
equal to the unpurchased portion of such series of Notes surrendered. 
 (c) On the Change of Control Payment Date, the Company shall, to
the extent lawful: 
 (i) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of
Control Offer; 
 (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes
or portions thereof properly tendered; and 
 (iii) deliver or cause to be delivered for cancellation to the Trustee the
Notes properly accepted, together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the Company. 

(d) The Paying Agent shall promptly mail to each Holder of Notes properly tendered the Change of Control Payment for the Notes, and the
Trustee, upon receipt of a Company Request, shall promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note of such series equal in principal amount to any unpurchased portion of any Notes of such series
surrendered by such Holder, if any; provided that each new Note of such series will be in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof. 

(e) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent such laws 

  
 10 

 
and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or
regulations conflict with this Section 2.07, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 2.07 by virtue of such conflicts. 

(f) Notwithstanding the foregoing, the Company will not be required to make an offer to repurchase the Notes upon a Change of Control
Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company herein and such third party purchases all the Notes properly tendered and not
withdrawn under its offer. 
 ARTICLE 3 

SUPPLEMENTAL INDENTURE 

Section 3.01. Supplemental Indentures Without Consent of Holders. Without the consent of any Holders, the Company,
when authorized by a Board Resolution, the Guarantor and the Trustee (at the direction of the Company) at any time and from time to time, may enter into one or more indentures supplemental hereto for any of the purposes set forth in
Section 10.01 of the Indenture and, in addition for the following purpose: to conform any provision of the Indenture, the Sixth Supplemental Indenture or the 2030 Notes or 2060 Notes, as applicable, to the “Description of Notes”
appearing in the Company’s preliminary prospectus dated August 10, 2020, as supplemented by the free writing prospectus dated August 10, 2020, pursuant to which the Notes were originally offered, each as filed with the Commission on
August 10, 2020. 
 ARTICLE 4 

GUARANTEE 

Section 4.01. Release of Guarantor from Guarantee. Section 12.07(a) of the Indenture shall be amended by replacing that
section of the Indenture with the following, but only with respect to the Notes: 
 (a) The Guarantee by the Guarantor shall terminate and
be of no further force or effect and the Guarantor shall be deemed to be released from all obligations upon: 
 (i) the sale
or other disposition (including by way of consolidation or merger) of the Guarantor, other than to the Company or a Subsidiary of the Company and as permitted by this Indenture; 

(ii) the sale or disposition of all or substantially all the assets of the Guarantor, other than to the Company or a Subsidiary
of the Company and as permitted by this Indenture; 
 (iii) the Company’s exercise of its option under
Section 11.03 or Section 11.04 or if the Company’s obligations under this Indenture are discharged in accordance with the terms of this Indenture; or 

  
 11 

 (iv) at such time as the Guarantor ceases to guarantee Debt, other than a
discharge through payment thereon, under any Credit Facility of the Company, other than any such Credit Facility of the Company the guarantee of which by the Guarantor will be released concurrently with the release of the Guarantor’s guarantee
of the Notes. 
 ARTICLE 5 

MISCELLANEOUS 

Section 5.01. Trust Indenture Act Controls. If any provision of this Sixth Supplemental Indenture limits, qualifies or conflicts
with another provision which is required to be included in this Sixth Supplemental Indenture by the Trust Indenture Act, the required provision shall control. If any provision of this Sixth Supplemental Indenture modifies or excludes any provision
of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to apply to this Sixth Supplemental Indenture as so modified or to be excluded, as the case may be. 

Section 5.02. Governing Law. This Sixth Supplemental Indenture and the Notes shall be governed by and construed in accordance with
the laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule that would cause the application of the laws of any other jurisdiction. EACH OF THE COMPANY, THE GUARANTOR, THE HOLDERS AND THE
TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 Section 5.03. Payment of Notes. Payments in respect of the Notes represented by the Global Notes are to be made by wire
transfer of immediately available funds to the accounts specified by the Holders of the Global Notes. With respect to Certificated Notes, the Company will make all payments through the Paying Agent by mailing a check to each Holder’s registered
address; provided, however, that payments may also be made, in the case of a Holder of at least $1.0 million aggregate principal amount of Notes, by wire transfer to the account specified by the Holder thereof. 

Section 5.04. Multiple Counterparts. The parties may sign multiple counterparts of this Sixth Supplemental Indenture. Each signed
counterpart shall be deemed an original, but all of them together represent one and the same Sixth Supplemental Indenture. 

Section 5.05. Severability. Each provision of this Sixth Supplemental Indenture shall be considered separable and if for any
reason any provision which is not essential to the effectuation of the basic purpose of this Sixth Supplemental Indenture or the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby and a Holder shall have no claim therefor against any party hereto. 

Section 5.06. Relation to Indenture. This Sixth Supplemental Indenture constitutes a part of the Indenture, the provisions of
which (as modified by this Sixth Supplemental Indenture) 

  
 12 

 
shall apply to the series of Securities established by this Sixth Supplemental Indenture but shall not modify, amend or otherwise affect the Indenture insofar as it relates to any other series of
Securities or modify, amend or otherwise affect in any manner the terms and conditions of the Securities of any other series. 

Section 5.07. Ratification. The Indenture, as supplemented and amended by this Sixth Supplemental Indenture, is in all respects
ratified and confirmed. The Indenture and this Sixth Supplemental Indenture shall be read, taken and construed as one and the same instrument. All provisions included in this Sixth Supplemental Indenture supersede any conflicting provisions included
in the Indenture unless not permitted by law. The Trustee accepts the trusts created by the Indenture, as supplemented by this Sixth Supplemental Indenture, and agrees to perform the same upon the terms and conditions of the Indenture, as
supplemented by this Sixth Supplemental Indenture. 
 Section 5.08. Effectiveness. The provisions of this Sixth Supplemental
Indenture shall become effective as of the date hereof. 
 Section 5.09. Trustee Not Responsible for Recitals or Issuance of
Securities. The recitals contained herein and in the Notes, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee or any Authenticating Agent assumes no responsibility for
their correctness. The Trustee makes no representations as to the validity or sufficiency of this Sixth Supplemental Indenture or of the Notes. The Trustee or any Authenticating Agent shall not be accountable for the use or application by the
Company of Notes or the proceeds thereof. 
 [remainder of page intentionally left blank; signature pages follow] 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have caused this Sixth Supplemental Indenture to be
duly executed as of the date first above written. 
  

					
	 S&P GLOBAL INC.

		
	 By:
	 	 /s/ Elizabeth D. Mann

		 	 Name:
	 	Elizabeth D. Mann
		 	 Title:
	 	Senior Vice President, Capital Management

  

					
	 STANDARD & POOR’S FINANCIAL SERVICES

		 	 LLC, as Guarantor

		
	 By:
	 	 /s/ John L. Berisford

		 	Name:	 	John L. Berisford
		 	Title:	 	President

  

					
	 U.S. BANK NATIONAL ASSOCIATION,

		 	 as Trustee

		
	 By:
	 	 /s/ Thomas E. Tabor

		 	 Name:
	 	 Thomas E. Tabor

		 	 Title:
	 	 Vice President

  
 14 

 EXHIBIT A-1 

[FORM OF 1.250% SENIOR NOTES DUE 2030] 

S&P GLOBAL INC. 

1.250% SENIOR NOTE DUE 2030 

Fully and Unconditionally Guaranteed by 

Standard & Poor’s Financial Services LLC 

Principal Amount: $ [●] 
 No. A-[●] 
  

			
	CUSIP:	  	78409V AS3
		
	ISIN:	  	US78409VAS34

 S&P GLOBAL INC., a New York corporation (herein called the “Company,” which term includes
any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of $[•] on August 15, 2030 (the “Maturity
Date”) (except to the extent redeemed or repaid prior to the Maturity Date) and to pay interest thereon from August 13, 2020 (the “Original Issue Date”) or from the most recent Interest Payment Date to which interest
has been paid or duly provided for semi-annually at the rate of 1.250% per annum, on February 15 and August 15 (each such date, an “Interest Payment Date”), commencing February 15, 2021, until the principal hereof is
paid or made available for payment. 
 Payment of Interest. The interest so payable, and punctually paid or made available for
payment, on any Interest Payment Date, will, as provided in the Indenture, be paid, in immediately available funds, to the Person in whose name this Note (or one or more predecessor securities) is registered at the close of business on
February 1 or August 1 (whether or not a Business Day, as defined in the Indenture), as the case may be, next preceding such Interest Payment Date (the “Regular Record Date”). Any such interest not punctually paid or duly
provided for (“Defaulted Interest”) will forthwith cease to be payable to the Holder on such Regular Record Date, and such Defaulted Interest, may be paid to the Person in whose name this Note (or one or more Predecessor Securities)
is registered at the close of business on a special record date (the “Special Record Date”) for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not less than ten
days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in said Indenture. 
 Place of Payment. Payment of principal, premium, if any, and interest on this Note
will be made at the Corporate Trust Office of the Trustee or such other office or agency of the Company as may be designated for such purpose, in such currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that each installment of interest, premium, if any, and principal on this Note may at the Company’s option be paid in immediately available funds by transfer to an account maintained by the
payee located in the United States of America. 

 Time of Payment. In any case where any Interest Payment Date, the Maturity Date or
any date fixed for redemption or repayment of the Notes shall not be a Business Day, then (notwithstanding any other provision of the Indenture or this Note), payment of principal or interest, if any, need not be made on such date, but may be made
on the next succeeding Business Day with the same force and effect as if made on such Interest Payment Date, the Maturity Date or the date so fixed for redemption or repayment, and no interest shall accrue in respect of the delay. 

General. This Note is one of a duly authorized issue of Securities of the Company, issued and to be issued in one or more series under
an indenture (the “Base Indenture”), dated as of May 26, 2015, among the Company, Standard & Poor’s Financial Services LLC, as Guarantor, and U.S. Bank National Association (herein called the
“Trustee,” which term includes any successor Trustee under the Indenture with respect to a series of which this Note is a part), as supplemented by a Sixth Supplemental Indenture thereto, dated as of August 13, 2020 (the
“Sixth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), among the Company, the Guarantor party thereto and the Trustee. Reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantor, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered.
This Note is one of a duly authorized series of Securities designated as “1.250% Senior Notes due 2030” (collectively, the “Notes”), initially limited in aggregate principal amount to $600,000,000. 

Further Issuance. The Company may from time to time, without the consent of the Holders of the Notes, issue additional Securities (the
“Additional Securities”) of this series having the same ranking and the same interest rate, maturity and other terms as the Notes. Any Additional Securities of this series and the Notes will constitute a single series under the
Indenture and all references to the Notes shall include the Additional Securities unless the context otherwise requires; provided that if any such Additional Securities are not fungible with the Notes for U.S. federal income tax purposes,
such Additional Securities shall have a separate CUSIP number. 
 Events of Default. If an Event of Default with respect to the Notes
shall have occurred and be continuing, the principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

Sinking Fund. The Notes are not subject to any sinking fund. 

Redemption and Repurchase. The Notes are subject to optional redemption, and may be the subject of an offer to purchase upon the
occurrence of a Change of Control Triggering Event, as further described in the Indenture. There is no sinking fund or mandatory redemption applicable to the Notes. 

Restrictive Covenants. The Indenture contains certain covenants that, among other things, limit the ability of the Company and its
Subsidiaries to create liens or the ability of the Company to consolidate, merge or sell, transfer or lease all or substantially all of its assets. 

Defeasance and Covenant Defeasance. The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness of
the Company on this Note and (b) certain restrictive covenants and the related Defaults and Events of Default, upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 

Modification and Waivers; Obligations of the Company Absolute. The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series. Such amendment may be effected under the Indenture at any time by the Company and the Trustee with,
except as stated therein, the consent of the Holders of not less than a majority in aggregate principal amount of the outstanding Notes of each series affected thereby. The Indenture also contains provisions permitting the Holders of not less than a
majority in aggregate principal amount of the Securities at the time outstanding, on behalf of the Holders of all outstanding Securities, to waive compliance by the Company with certain provisions of the Indenture. Furthermore, provisions in the
Indenture permit the Holders of not less than a majority in aggregate principal amount of the outstanding Securities of individual series to waive on behalf of all of the Holders of Securities of such individual series certain past defaults under
the Indenture and their consequences. Any such consent or waiver shall be conclusive and binding upon the Holder of this Note and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange
hereof or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

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

Guarantee. This Note will be entitled to the benefits of a Guarantee made for the benefit of the Holders. Reference is hereby made to
the Indenture for a statement of the respective rights, limitations of rights, Guarantee release provisions, duties and obligations thereunder of the Guarantor, the Trustee and the Holders. 

No Recourse Against Others. No director, officer, agent, employee, incorporator, stockholder, partner, member, or manager of the
Company or the Guarantor shall have any liability for any obligations of the Company or the Guarantor under any Notes, the Indenture or the Guarantee or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each
Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

Limitation on Suits. As set forth in, and subject to, the provisions of the Indenture, no Holder of any Note will have any right to
institute any proceeding with respect to the Indenture or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice of a continuing Event of Default with respect to this series, the Holders of not less
than 25% in principal amount of the outstanding Notes shall have made written request, and offered indemnity satisfactory to the Trustee to institute such proceedings as Trustee, and the Trustee shall not have received from the Holders of a majority
in principal amount of the outstanding Notes a direction inconsistent with such request and shall have failed to institute such proceeding within 60 days; provided, however, that such limitations do not apply to a suit instituted by the
Holder hereof for the enforcement of payment of the principal of or interest on this Note on or after the respective due dates expressed herein. 

Authorized Denominations. The Notes are issuable only in registered form without coupons in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. 
 Registration of Transfer or Exchange. As provided in the Indenture and subject to
certain limitations herein and therein set forth, the transfer of this Note is registrable in the register of the Notes maintained by the Security Registrar upon surrender of this Note for registration of transfer, at the office or agency of the
Company in any place where the principal of and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar, duly executed by the Holder
hereof or his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

As provided in the Indenture and subject to certain limitations herein and therein set forth, the Notes are exchangeable for a like aggregate
principal amount of Notes of different authorized denominations, as requested by the Holders surrendering the same. 
 No service charge
shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Holder as the owner hereof for all purposes (except with respect to certain payments of Defaulted Interest), whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 Defined Terms. All terms used in this Note, which are defined in the Indenture and are not otherwise defined herein,
shall have the meanings assigned to them in the Indenture. 

 Governing Law. This Note shall be governed by and construed in accordance with the
laws of the State of New York. 
 Unless the certificate of authentication hereon has been executed by the Trustee by manual signature, this
Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 [remainder of page
intentionally left blank] 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed and its seal
to be hereunto affixed and attested. 
 Dated: August 13, 2020 

 

			
	 S&P GLOBAL INC.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  

			
	 Attest:

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture, as such is supplemented by the
within-mentioned Sixth Supplemental Indenture. 
 Dated: August 13, 2020 

 

			
	 U.S. BANK NATIONAL ASSOCIATION

		 	as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

 ASSIGNMENT FORM 
  

	
	I or we assign and transfer this Note to
	
	  

	
	  

	(Print or type name, address and zip code of assignee or transferee)
	
	  

	(Insert Social Security or other identifying number of assignee or transferee) 

 and irrevocably appoint agent to transfer this Note on the books of the Company. The agent may substitute another to act for
him. 
  

							
	Dated:	 	  
	 		 	Signed:
				
		 		 		 	  

		 		 		 	(Sign exactly as name appears on the other side of this Note)
			
	Signature Guarantee:	 		 	  

		 		 		 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)

 EXHIBIT A-2 

[FORM OF 2.300% SENIOR NOTES DUE 2060] 

S&P GLOBAL INC. 

2.300% SENIOR NOTE DUE 2060 

Fully and Unconditionally Guaranteed by 

Standard & Poor’s Financial Services LLC 

Principal Amount: $[●] 
 No. B-[●] 
  

			
	CUSIP:	  	78409V AR5
		
	ISIN:	  	US78409VAR50

 S&P GLOBAL INC., a New York corporation (herein called the “Company,” which term includes
any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of $[•] on August 15, 2060 (the “Maturity
Date”) (except to the extent redeemed or repaid prior to the Maturity Date) and to pay interest thereon from August 13, 2020 (the “Original Issue Date”) or from the most recent Interest Payment Date to which interest
has been paid or duly provided for semi-annually at the rate of 2.300% per annum, on February 15 and August 15 (each such date, an “Interest Payment Date”), commencing February 15, 2021, until the principal hereof is
paid or made available for payment. 
 Payment of Interest. The interest so payable, and punctually paid or made available for
payment, on any Interest Payment Date, will, as provided in the Indenture, be paid, in immediately available funds, to the Person in whose name this Note (or one or more predecessor securities) is registered at the close of business on
February 1 or August 1 (whether or not a Business Day, as defined in the Indenture), as the case may be, next preceding such Interest Payment Date (the “Regular Record Date”). Any such interest not punctually paid or duly
provided for (“Defaulted Interest”) will forthwith cease to be payable to the Holder on such Regular Record Date, and such Defaulted Interest, may be paid to the Person in whose name this Note (or one or more Predecessor Securities)
is registered at the close of business on a special record date (the “Special Record Date”) for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not less than ten
days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in said Indenture. 
 Place of Payment. Payment of principal, premium, if any, and interest on this Note
will be made at the Corporate Trust Office of the Trustee or such other office or agency of the Company as may be designated for such purpose, in such currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that each installment of interest, premium, if any, and principal on this Note may at the Company’s option be paid in immediately available funds by transfer to an account maintained by the
payee located in the United States of America. 
 Time of Payment. In any case where any Interest Payment Date, the Maturity Date or
any date fixed for redemption or repayment of the Notes shall not be a Business Day, then (notwithstanding any other provision of the 

 
Indenture or this Note), payment of principal or interest, if any, need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on
such Interest Payment Date, the Maturity Date or the date so fixed for redemption or repayment, and no interest shall accrue in respect of the delay. 

General. This Note is one of a duly authorized issue of Securities of the Company, issued and to be issued in one or more series under
an indenture (the “Base Indenture”), dated as of May 26, 2015, among the Company, Standard & Poor’s Financial Services LLC, as Guarantor, and U.S. Bank National Association (herein called the
“Trustee,” which term includes any successor Trustee under the Indenture with respect to a series of which this Note is a part), as supplemented by a Sixth Supplemental Indenture thereto, dated as of August 13, 2020 (the
“Sixth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), among the Company, the Guarantor party thereto and the Trustee. Reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantor, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered.
This Note is one of a duly authorized series of Securities designated as “2.300% Senior Notes due 2060” (collectively, the “Notes”), initially limited in aggregate principal amount to $700,000,000. 

Further Issuance. The Company may from time to time, without the consent of the Holders of the Notes, issue additional Securities (the
“Additional Securities”) of this series having the same ranking and the same interest rate, maturity and other terms as the Notes. Any Additional Securities of this series and the Notes will constitute a single series under the
Indenture and all references to the Notes shall include the Additional Securities unless the context otherwise requires; provided that if any such Additional Securities are not fungible with the Notes for U.S. federal income tax purposes,
such Additional Securities shall have a separate CUSIP number. 
 Events of Default. If an Event of Default with respect to the Notes
shall have occurred and be continuing, the principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

Sinking Fund. The Notes are not subject to any sinking fund. 

Redemption and Repurchase. The Notes are subject to optional redemption, and may be the subject of an offer to purchase upon the
occurrence of a Change of Control Triggering Event, as further described in the Indenture. There is no sinking fund or mandatory redemption applicable to the Notes. 

Restrictive Covenants. The Indenture contains certain covenants that, among other things, limit the ability of the Company and its
Subsidiaries to create liens or the ability of the Company to consolidate, merge or sell, transfer or lease all or substantially all of its assets. 

Defeasance and Covenant Defeasance. The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness of
the Company on this Note and (b) certain restrictive covenants and the related Defaults and Events of Default, upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 

Modification and Waivers; Obligations of the Company Absolute. The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series. Such amendment may be effected under the Indenture at any time by the Company and the Trustee with,
except as stated therein, the consent of the Holders of not less than a majority in aggregate principal amount of the outstanding Notes of each series affected thereby. The Indenture also contains provisions permitting the Holders of not less than a
majority in aggregate principal amount of the Securities at the time outstanding, on behalf of the Holders of all outstanding Securities, to waive compliance by the Company with certain provisions of the Indenture. Furthermore, provisions in the
Indenture permit the Holders of not less than a majority in aggregate principal amount of the outstanding Securities of individual series to waive on behalf of all of the Holders of Securities of such individual series certain past defaults under
the Indenture and their consequences. Any such consent or waiver shall be conclusive and binding upon the Holder of this Note and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange
hereof or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

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

Guarantee. This Note will be entitled to the benefits of a Guarantee made for the benefit of the Holders. Reference is hereby made to
the Indenture for a statement of the respective rights, limitations of rights, Guarantee release provisions, duties and obligations thereunder of the Guarantor, the Trustee and the Holders. 

No Recourse Against Others. No director, officer, agent, employee, incorporator, stockholder, partner, member, or manager of the
Company or the Guarantor shall have any liability for any obligations of the Company or the Guarantor under any Notes, the Indenture or the Guarantee or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each
Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

Limitation on Suits. As set forth in, and subject to, the provisions of the Indenture, no Holder of any Note will have any right to
institute any proceeding with respect to the Indenture or for any remedy thereunder, unless such Holder shall have previously given to the Trustee written notice of a continuing Event of Default with respect to this series, the Holders of not less
than 25% in principal amount of the outstanding Notes shall have made written request, and offered indemnity satisfactory to the Trustee to institute such proceedings as Trustee, and the Trustee shall not have received from the Holders of a majority
in principal amount of the outstanding Notes a direction inconsistent with such request and shall have failed to institute such proceeding within 60 days; provided, however, that such limitations do not apply to a suit instituted by the
Holder hereof for the enforcement of payment of the principal of or interest on this Note on or after the respective due dates expressed herein. 

Authorized Denominations. The Notes are issuable only in registered form without coupons in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. 
 Registration of Transfer or Exchange. As provided in the Indenture and subject to
certain limitations herein and therein set forth, the transfer of this Note is registrable in the register of the Notes maintained by the Security Registrar upon surrender of this Note for registration of transfer, at the office or agency of the
Company in any place where the principal of and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar, duly executed by the Holder
hereof or his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

As provided in the Indenture and subject to certain limitations herein and therein set forth, the Notes are exchangeable for a like aggregate
principal amount of Notes of different authorized denominations, as requested by the Holders surrendering the same. 
 No service charge
shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Holder as the owner hereof for all purposes (except with respect to certain payments of Defaulted Interest), whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 Defined Terms. All terms used in this Note, which are defined in the Indenture and are not otherwise defined herein,
shall have the meanings assigned to them in the Indenture. 
 Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of New York. 

 Unless the certificate of authentication hereon has been executed by the Trustee by manual
signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 [remainder of
page intentionally left blank] 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed and its seal to be hereunto
affixed and attested. 
 Dated: August 13, 2020 
  

			
	S&P GLOBAL INC.
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Attest:
		
	By:	 	  

		 	Name:
		 	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture, as such is supplemented by the
within-mentioned Sixth Supplemental Indenture. 
 Dated: August 13, 2020 

 

			
	U.S. BANK NATIONAL ASSOCIATION
		 	as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

 ASSIGNMENT FORM 
  

	
	 I or we assign and transfer this Note to

	
	  

	
	  

	 (Print or type name, address and zip code of assignee or transferee)

	
	  

	 (Insert Social Security or other identifying number of assignee or transferee) 

 and irrevocably appoint agent to transfer this Note on the books of the Company. The agent may substitute another to act for
him. 
  

							
	Dated:	 	  
	 		 	Signed:
				
		 		 		 	  

		 		 		 	(Sign exactly as name appears on the other side of this Note)
			
	Signature Guarantee:	 		 	  

		 		 		 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)

 EXHIBIT B 

[DTC LEGEND] 
 UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE INDENTURE.

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