Document:

Form of Officers' Certificate

 Exhibit 4.1 
 FORM OF OFFICERS’ CERTIFICATE 
 The undersigned, Raymond Sadowski and
David R. Birk, do hereby certify on behalf of AVNET, INC., a New York corporation (the “Company”), that they are the duly appointed Senior Vice President, Chief Financial Officer and Assistant Secretary, and Senior Vice President,
General Counsel and Assistant Secretary, respectively, of the Company. Each of the undersigned also hereby certifies on behalf of the Company, pursuant to the Indenture, dated as of June 22, 2010 (the “Indenture”), between the
Company and Wells Fargo Bank, National Association, as trustee (the “Trustee”), that: 
 RECITAL

 Pursuant to the authorizations granted by resolutions duly adopted by the Board of Directors on November 1, 2012, a
series of Securities (as defined in the Indenture) to be issued under the Indenture has been established (the “Notes”). 
 TERMS 
 The Notes shall have the terms set forth in this certificate (this
“Certificate”) (defined terms used herein and not otherwise defined herein have the meanings ascribed to such terms in the Indenture): 
 (1) The title of the Securities of the series (which shall distinguish the Securities of the series from Securities of any other series): The Notes shall constitute a series of Securities
having the title “4.875% Notes due 2022.” 
 (2) Any limit upon the aggregate principal amount of the Securities
of the series that may be authenticated and delivered under the Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Sections
2.05, 2.06, 2.07, 3.05, 10.06 and except for Securities which, pursuant to Section 2.04, are deemed never to have been authenticated and delivered under the Indenture): The aggregate principal amount of Notes that may be authenticated
and delivered under the Indenture is unlimited. On the date hereof, the Company has delivered to the Trustee $350,000,000 in aggregate principal amount of Notes, together with a Company Order for the authentication and delivery of such Notes.

 (3) The Person to whom any interest on a Security of the series shall be payable, if other than the person in whose
name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest: Not applicable. 
 (4) The date or dates on which the principal of the Securities of the series shall be payable: The entire principal of the Notes shall be due and payable on December 1, 2022 (the

  
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“Stated Maturity”), unless earlier redeemed by the Company as provided in Section 7 below or repurchased by the Company as provided in Section 19A below. 

(5) The rate or rates at which the Securities of the series shall bear interest, if any, the date or dates from which such interest
shall accrue, the Interest Payment Dates on which such interest shall be payable, and the Regular Record Date for any interest payable on any Interest Payment Date: The Notes shall bear interest from November 27, 2012 at the annual rate
of 4.875%. Interest shall be payable semi-annually on June 1 and December 1 (the “Interest Payment Dates”) of each year, beginning on June 1, 2013, to the Person in whose name the Notes are registered in the Security
Register at the close of business on May 15 and November 15 prior to the relevant Interest Payment Date (each a “Regular Record Date”), whether or not such Regular Record Date shall be a Business Day. Interest on the Notes
shall be computed on the basis of a 360-day year of twelve 30-day months. 
 Payments of interest on the Notes shall include
interest accrued to but excluding the respective Interest Payment Date, Redemption Date (as defined herein) or Repurchase Date (as defined herein), as the case may be. 
 In any case where any Interest Payment Date, Redemption Date, or Stated Maturity of any Note shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of the Indenture
or of the Notes) payment of interest or principal (and premium, if any) need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on
the Interest Payment Date or Redemption Date, or at the Stated Maturity, provided that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date, or Stated Maturity, as the case may be. 

(6) The place or places where the principal of and any premium and interest on the Securities of the series shall be
payable: The Place of Payment, registration of transfer and exchange for the payment of principal of, and premium, if any, and interest on, the Notes shall be payable, and the exchange of and the transfer of the Notes shall be registrable,
at the office of the Trustee or at any other office or agency maintained by the Company for that purpose subject to the limitations of the Indenture, and the office or agency of the Trustee in Minneapolis, Minnesota, to be such office or agency of
the Company for the aforesaid purposes. 
 (7) The period or periods within which, the price or prices at which, and the
other terms and conditions upon which the Securities of the series may be redeemed, in whole or in part, at the option of the Company: 
 (A) The Company may redeem the Notes, in whole or in part, at its option, at any time and from time to time prior to the Stated Maturity on at least 30 days’, but no more than 60 days’, prior
notice mailed to the registered address of each Holder of the Notes. The redemption price shall be equal to the greater of (i) 100% of the principal amount of the Notes to be 

  
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redeemed and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) discounted, on a semiannual basis (assuming a 360-day year consisting of twelve 30-day
months) at a rate equal to the sum of the Treasury Rate (as defined below) plus 50 basis points, plus, in each case, accrued and unpaid interest on the Notes to the Redemption Date (the “Redemption Price”). The principal amount of a
Note remaining Outstanding after redemption in part must be $2,000 or an integral multiple of $1,000 in excess thereof. 
 For
purposes of this Section 7, the following definitions shall be applicable: 
 “Comparable Treasury Issue” means the United
States Treasury security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes 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 a comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date after excluding the
highest and lowest of such Reference Treasury Dealer Quotations, or (2) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

“Reference Treasury Dealer” means Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBS Securities Inc. (or their
respective affiliates that are primary U.S. Government securities dealers in New York City (each, a “Primary Treasury Dealer”)) and their respective successors and two other Primary Treasury Dealers as may be selected from time to
time by the Company. If any of the foregoing ceases to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and ask prices
for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. (New York City time) on the third business day preceding such
Redemption Date. 
 “Remaining Scheduled Payments” means, with respect to each Note to be redeemed, the remaining scheduled
payments of principal of and interest on the Note that would be due after the related Redemption Date but for the redemption. If that Redemption Date is not an Interest Payment Date with respect to the Note, the amount of the next succeeding
scheduled interest payment on the Note shall be reduced by the amount of interest accrued on the Note to the Redemption Date. 

  
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 “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semiannual equivalent yield to maturity or interpolation (on a day count basis) of the interpolated Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date. 
 In the event that the Company chooses to redeem less than all of the
Notes, selection of the Notes for redemption shall be made by the Trustee on a pro rata basis, by lot or by such method as the Trustee deems fair and appropriate. The notice of redemption that relates to any Note that is redeemed in part only shall
state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof shall be issued in the name of the Holder thereof upon cancellation of the original Note. On and after the
Redemption Date, interest shall cease to accrue on Notes or portions thereof called for redemption so long as the Company has deposited with the Paying Agent funds in satisfaction of the Redemption Price. 

(B) Notice of redemption to Holders of Notes shall be given in the manner provided in Section 3.02 of the Indenture. 

(C) Notice of redemption having been given as provided in the Indenture, the Notes so to be redeemed shall, on the Redemption Date,
become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company defaults in the payment of the Redemption Price and accrued interest) such Notes shall cease to accrue interest. Upon surrender of any
such Note for redemption in accordance with such notice, such Notes shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date. 

The notice of redemption that relates to any Note that is redeemed in part only shall state the portion of the principal amount thereof
to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof shall be issued in the name of the Holder thereof upon cancellation of the original Note. 

(D) Prior to 11:00 a.m. (New York City time) on the Redemption Date specified in the notice of redemption given as provided in
Section 3.02 of the Indenture, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 6.03 of the Indenture) an amount of
money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) any accrued interest on, all of the Notes that are to be redeemed on that date. 

(8) The obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking
fund or analogous provision or at the option of a Holder thereof and the period or periods within which, the price or prices at which, and the terms and 

  
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conditions upon which Securities of the series shall be redeemed or purchase, in whole or in part, pursuant to such obligation: The Notes shall not have the benefit of any sinking
fund. 
 (9) If other than denominations of $1,000 and integral multiples thereof, the denomination in which the
Securities of the series shall be issuable: The Notes shall be issued in registered form only in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

(10) The currency, currencies, or currency units in which payment of the principal of and any premium and interest on any
Securities of the series shall be payable if other than the currency of the United States of America and the manner of determining the equivalent thereof in the currency of the United States of America for purposes of the definition of
“Outstanding” in Section 1.01 of the Indenture: Not applicable. 
 (11) If the amount of payments
of principal of or any premium or interest on the Securities of the series may be determined with reference to an index, based upon a formula, or in some other manner, the manner in which such amounts shall be determined: Except as set forth
in the Indenture and this Certificate, the amount of payments of principal of or any premium or interest on the Notes shall not be determined with reference to an index, formula or other manner. 

(12) If the principal of or any premium or interest on the Securities of the series is to be payable, at the election of the
Company or a Holder thereof, in one or more currencies or currency units other than that or those in which the Securities of the series are stated to be payable, the currency, currencies, or currency units in which payment of the principal of and
any premium and interest on the Securities of the series as to which such election is made shall be payable, and the periods within which and the terms and conditions upon which such election is to be made: Not applicable. 

(13) If other than the Trustee, the identity of each Security Registrar and/or Paying Agent: The Paying Agent and Security
Registrar initially shall be the Trustee. 
 (14) If other than the principal amount thereof, the portion of the principal
amount of Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 8.01(b): Not applicable. 
 (15) If applicable, that the Notes shall be subject to either or both of Defeasance or Covenant Defeasance as provided in Article V of the Indenture, provided that no Securities of the series that
are convertible into Common Stock pursuant to Section 2.01(b)(xvi) or convertible into or exchangeable for any other Notes pursuant to Section 2.01(b)(xvii) shall be subject to Defeasance pursuant to Section 5.02: The
defeasance and discharge provisions under Article V of the Indenture shall be applicable to the Notes. 

  
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 (16) If and as applicable, that the Securities of the series shall be issuable in
whole or in part in the form of one or more Global Securities and, in such case, the Depositary or Depositaries of such Global Security or Global Securities and any circumstances other than those set forth in Section 2.05 in which any such
Global Security may be transferred to, and registered and exchanged for Securities of the series registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof and in which any such transfer may be
registered: The Notes shall be evidenced by one or more Global Notes deposited with the Trustee as custodian for The Depository Trust Company (“DTC”), and shall be registered in the name of Cede & Co., as nominee of
DTC. 
 So long as Cede & Co., as nominee of DTC, is the registered owner of the Global Notes, Cede & Co. for
all purposes shall be considered the sole holder of the Global Notes. Except as provided below, owners of beneficial interests in the Global Notes shall not be (A) entitled to have certificates registered in their names and (B) considered
Holders of the Global Notes. 
 The Company shall issue the Notes in definitive certificated form if DTC notifies the Company
that it is unwilling or unable to continue as depositary or DTC ceases to be a clearing agency registered under the Exchange Act and a successor depositary is not appointed by the Company within 90 days. In addition, beneficial interests in a Global
Note may be exchanged for definitive certificated Notes upon request by or on behalf of DTC and in accordance with DTC’s customary procedures. The Company may determine at any time and in its sole discretion that the Notes shall no longer be
represented by Global Notes, in which case the Company shall issue certificates in definitive form in exchange for the Global Notes. 
 (17) The terms and conditions, if any, pursuant to which the Securities of the series are convertible into Common Stock: Not applicable. 

(18) The terms and conditions, if any, pursuant to which the Securities of the series are convertible into or exchangeable for any
other securities, including (without limitation) securities of Persons other than the Company: Not applicable. 
 (19)
Any other terms of, or provisions, covenants, rights or other matters applicable to, the Securities of the series (which terms, provisions, covenants, rights or other matters shall not be inconsistent with the provisions of the Indenture),
except as permitted by Section 10.01(e) of the Indenture: 
 (A) Change of Control. If a Change of
Control Triggering Event occurs, unless the Company has exercised its right to redeem the Notes in accordance with Section 7 hereof, each Holder shall have the right to require the Company to repurchase all or any part of each Holder’s
Notes pursuant to the offer (the “Change of Control Offer”) on the terms set forth in the Notes and herein. In the Change of Control Offer, the Company shall offer payment in cash equal to 101% of the aggregate principal amount of
Notes repurchased plus accrued and unpaid interest, if any (the “Change of Control Payment”), on the Notes repurchased, to the repurchase date 

  
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(the “Repurchase Date”) (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the Interest Payment Date). The principal amount
of a Note remaining Outstanding after a repurchase in part must be $2,000 or an integral multiple of $1,000 in excess thereof. 

Within 30 days following the date upon which the Change of Control Triggering Event has occurred or, at the Company’s option, prior
to any Change of Control, but after the public announcement of the transaction that may or shall constitute a Change of Control, except to the extent that the Company has exercised its right to redeem the Notes in accordance with Section 7
above, the Company shall cause a notice to be mailed to each Holder with a copy to the Trustee describing the transaction or transactions that may or shall constitute a Change of Control Triggering Event and offering to repurchase the Notes on the
date specified in the notice, which date shall be no earlier than 30 days, but no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”). The notice shall, if mailed prior to the date of
consummation of the Change of Control, state that the Change of Control Offer is conditioned on the Change of Control being consummated on or prior to the Change of Control Payment Date. 

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 pursuant to the applicable Change of Control Offer; and 
 (iii) deliver or cause to be delivered 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. 
 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 those laws 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 19(A), the Company shall comply with the
applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 19(A) by virtue of such conflicts; 
 The Company shall not be required to make a Change of Control Offer 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, and such third party purchases all Notes properly tendered and not withdrawn under its offer. In the event that such third party terminates or defaults on its offer, the Company shall be
required to make a 

  
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Change of Control Offer treating the date of such termination or default as though it were the date of the Change of Control Triggering Event. 

For purposes of this Section 19(A), the following definitions shall be applicable: 

“Below Investment Grade Rating Event” means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated
below an Investment Grade Rating by each of the Rating Agencies on any day during the period (the “Trigger Period”) commencing on the date 60 days prior to the first public announcement by the Company of any Change of Control or
pending Change of Control and ending 60 days following the consummation of such Change of Control (which Trigger Period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of
the Rating Agencies). 
 “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 that term is used in Section 13(d)(3) of the Exchange Act) other than the
Company or one of its Subsidiaries; 
 (2) the adoption of a plan relating to the liquidation or dissolution of the Company;

 (3) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is
that any “person” (as defined above), becomes the “beneficial owner” (as defined in Rule 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the then Outstanding number of shares of the
Company’s Voting Stock measured by voting power rather than number of shares; 
 (4) the Company consolidates with, or
merges with or into any Person, or any Person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s Outstanding Voting Stock or the Outstanding Voting Stock of such
other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Voting Stock of the Company Outstanding immediately prior to such transaction constitute, or are converted
into or exchanged for, a majority of the Voting Stock (measured by voting power rather than number of shares) of the surviving Person immediately after giving effect to such transaction; or 

(5) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 “Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Company who
(1) was a member of such Board of Directors on the date of this 

  
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Certificate; or (2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such board of
directors at the time of such nomination, election or appointment (either by specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director, without objection to such
nomination). 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and
BBB- (or the equivalent) by S&P, and the equivalent rating from any replacement Rating Agency or Rating Agencies. 

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

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either Moody’s or S&P 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 Board Resolution) as a replacement rating agency for Moody’s or S&P, or both of them, as the case may be. 
 “S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc., and any of its successors. 

(B) Restriction on Secured Debt. The Company covenants, for the benefit of the Holders of the Notes, that if the Company or
any Restricted Subsidiary after the date hereof incurs or guarantees any loans, notes, bonds, debentures or other similar evidences of indebtedness for money borrowed (“Certain Debt”) secured by a mortgage, pledge or lien
(“Mortgage”) on any Principal Property of the Company or any Restricted Subsidiary, or on any share of capital stock or Certain Debt of any Restricted Subsidiary, the Company shall secure or cause such Restricted Subsidiary to
secure the Notes equally and ratably with (or, at the Company’s option, before) such secured Certain Debt, unless the aggregate principal amount of all such secured Certain Debt (plus the amount of all Attributable Debt which is not excluded as
described under Section 19(C) below would not exceed 10% of Consolidated Net Assets. 
 This restriction shall not apply
to, and there shall be excluded from secured Certain Debt in any computation of the above restriction, Certain Debt secured by: 
  

	 	(a)	Mortgages on property (including any shares of capital stock or Certain Debt) of any Person existing at the time such Person becomes a Restricted Subsidiary;

  

	 	(b)	Mortgages in favor of the Company or a Restricted Subsidiary; 

  

	 	(c)	Mortgages in favor of governmental bodies to secure progress, advance or other payments; 

  
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	 	(d)	Mortgages on property, shares of capital stock or Certain Debt existing at the time of acquisition thereof (including acquisition through merger or consolidation) and
purchase money and construction or improvement Mortgages which are entered into within 180 days after the acquisition of such property, shares or Certain Debt or, in the case of real property, within 180 days after the later of (A) the
completion of construction on, substantial repair to, alteration or development of, or substantial improvement to, such property and (B) the commencement of commercial operations on such property; 

 

	 	(e)	mechanics’ and similar liens arising in the ordinary course of business in respect of obligations not due or being contested in good faith;

  

	 	(f)	Mortgages arising from deposits with, or the giving of any form of security to, any governmental agency required as a condition to the transaction of business or to the
exercise of any privilege, franchise or license; 

  

	 	(g)	Mortgages for taxes, assessments or government charges or levies which are not then due or, if delinquent, are being contested in good faith; 

 

	 	(h)	Mortgages (including judgment liens) arising from legal proceedings being contested in good faith; 

 

	 	(i)	Mortgages existing at the date hereof; and 

  

	 	(j)	any extension, renewal or refunding of any Mortgage referred to in the clauses (a) through (i) above. 

(C) Restriction on Sale and Leaseback Transactions. The Company covenants, for the benefit of the Holders of the Notes,
that the Company shall not itself, and shall not permit any Restricted Subsidiary to, enter into any sale and leaseback transaction involving any Principal Property, unless after giving effect thereto the aggregate amount of all Attributable Debt
with respect to all such transactions (plus the aggregate principal amount of all secured Certain Debt which is not excluded as described under Section 19(B) above would not exceed 10% of Consolidated Net Assets. 

This restriction shall not apply to, and there shall be excluded from Attributable Debt in any computation of the above restriction, any
sale and leaseback transaction if: 
 (i) the lease is for a period, including renewal rights, of not in excess of three years;

 (ii) the sale or transfer of the Principal Property is made within 180 days after its acquisition or within 180 days after
the later of (1) the completion of construction on, substantial repair to, alteration or development of, or substantial improvement to, such property and (2) the commencement of commercial operations thereon; 

  
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 (iii) the transaction is between the Company and a Restricted Subsidiary, or between
Restricted Subsidiaries; 
 (iv) the Company or a Restricted Subsidiary would be entitled to incur a Mortgage on such Principal
Property pursuant to clauses (a) through (j) of Section 19B above; or 
 (v) the Company or a Restricted
Subsidiary, within 180 days after the sale or transfer is completed, applies to the retirement of Funded Debt of the Company ranking on a parity with or senior to the Notes or Funded Debt of a Restricted Subsidiary, or to the purchase of other
property which shall constitute a Principal Property having a fair market value at least equal to the fair market value of the Principal Property leased, an amount equal to the greater of the net proceeds of the sale of the Principal Property or the
fair market value (as determined by the Board of Directors) of the Principal Property leased at the time of entering into such arrangement (as determined by the Board of Directors). 

(D) Events of Default: Upon any acceleration of the Notes (by declaration or otherwise), the principal of and premium, if
any, and accrued and unpaid interest on the Notes shall become immediately due and payable. 
 (E) No
Subordination: Article Thirteen of the Indenture shall not be applicable to the Notes. 
 (F) Form of
Note. The form of the Note attached hereto as Exhibit A is hereby approved. 
 (G) The foregoing form and terms of the
Notes have been established in conformity with the provisions of the Indenture. 
 (H) Each of the undersigned has read the
Indenture and the definitions relating thereto and has examined the resolutions referred to in the Recital of this Certificate and the Notes and has made such examination or investigation as is necessary to enable the undersigned to represent as to
whether or not all conditions precedent provided in the Indenture relating to the establishment, authentication and delivery of the Notes have been complied with. On the basis of the foregoing, all such conditions precedent have been complied with.

 (I) Definitions: 
 “Attributable Debt” shall mean, as to any particular lease, the greater of: (A) the fair market value of the property subject to the lease (as determined by the Board of Directors);
or (B) the total net amount of rent required to be paid during the remaining term of the lease, discounted by the weighted average effective interest cost per annum of the Outstanding debt securities of all series, compounded semi-annually.

  
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 “Consolidated Net Assets” shall mean total assets after deducting all
current liabilities as set forth in the most recent balance sheet of the Company and its consolidated Subsidiaries and computed in accordance with GAAP. 
 “Funded Debt” shall mean all indebtedness for money borrowed having a maturity of more than twelve months from the date as of which the determination is made, or having a maturity of
twelve months or less but by its terms being renewable or extendible beyond twelve months from such date at the option of the borrower; and rental obligations payable more than twelve months from such date under leases which are capitalized in
accordance with GAAP (such rental obligations to be included as Funded Debt at the amount so capitalized and to be included as an asset for the purposes of the definition of Consolidated Net Assets). 

“GAAP” means generally accepted accounting principles in the United States of America (including, if applicable,
International Financial Reporting Standards) as in effect from time to time. 
 “Global Notes” shall mean Notes
that are substantially in the form of the Note attached hereto as Exhibit A, and that are registered in the Security Register in the name of DTC or a nominee thereof. 
 “Person” shall mean any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political
subdivision thereof. 
 “Principal Property” shall mean any plant, facility or warehouse owned on the date
hereof or thereafter acquired by the Company or any Restricted Subsidiary of the Company which is located within the United States and the gross book value (including related land and improvements thereon and all machinery and equipment included
therein without deduction of any depreciation reserves) of which on the date of determination exceeds 2% of Consolidated Net Assets, other than: (A) any such manufacturing or processing plant or warehouse or any portion thereof (together with
the land on which it is erected and fixtures comprising a part thereof) which is financed by industrial development bonds which are tax exempt pursuant to Section 103 of the Internal Revenue Code (or which receive similar tax treatment under
any subsequent amendments thereto or any successor laws thereof or under any other similar statute of the United States); (B) any property which, in the opinion the Board of Directors, is not of material importance to the total business
conducted by the Company and its consolidated Subsidiaries as an entirety; or (C) any portion of a particular property which is similarly found not to be of material importance to the use or operation of such property. 

“Redemption Date” means the date specified by the Company in a notice of redemption on which the Notes may be redeemed
in accordance with the terms of the Notes and the Indenture. 

  
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 “Restricted Subsidiary” means a Subsidiary of the Company
(A) substantially all the property of which is located, or substantially all the business of which is carried on, within the United States, and (B) which owns a Principal Property. 

“Subsidiary” means any corporation or other Person more than 50% of the Outstanding Voting Stock (measured by voting
power rather than number of shares) of which at the date of determination is owned, directly or indirectly, by the Company and/or by one or more other Subsidiaries. 
 “Voting Stock” means capital stock (or equivalent equity interests) of a Person of the class or classes having general voting power under ordinary circumstances to elect at least a
majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time capital stock (or equivalent equity interests) of any other class or classes has or might have voting power upon the occurrence of
any contingency). 
 [Signature page follows] 

  
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 IN WITNESS WHEREOF, the undersigned have hereunto executed this Certificate as of
the        th day of                 , 2012. 

 

			
	AVNET, INC.,
	a New York corporation
		
	By: 	 	  

	Name:	 	
	Title:	 	
		
	By: 	 	  

	Name:	 	
	Title:	 	

  

 Exhibit A 

Form of Note 

 THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN
THE NAME OF THE DEPOSITARY TRUST COMPANY (“DTC”) OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR NOTES REGISTERED IN THE NAME OF, ANY PERSON OTHER THAN DTC OR A NOMINEE THEREOF, AND NO SUCH
TRANSFER MAY BE REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY NOTE AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR, OR IN LIEU OF, THIS NOTE WILL BE A GLOBAL NOTE SUBJECT TO THE
FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 
 AVNET, INC. 

4.875% Notes due 2022 
 No. R-__

  

			
	$350,000,000	 	CUSIP No. 053807 AR4

 AVNET, INC., a corporation duly organized and existing under the laws of the State of New York
(hereinafter called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    , or its registered assigns, the principal sum of $350,000,000 on December 1, 2022, and to pay interest thereon from
November 27, 2012 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, on June 1 and December 1 in each year, commencing on June 1, 2013, at the rate of 4.875% per annum, until
the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Note (or one
or more Predecessor Notes) is registered in the Security Register at the close of business on the Regular Record Date for such interest, which shall be the May 15 or November 15 (whether or not a Business Day), as the case may be, next
preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or
more Predecessor Notes) is registered in the Security Register at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not less than
10 calendar days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in said Indenture. 
 REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS SET FORTH ON THE
REVERSE HEREOF. SUCH PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH IN THIS PLACE. 

 This Note shall not be valid or become obligatory for any purpose until the certificate of
authentication herein has been signed manually by the Trustee under the Indenture referred to on the reverse side hereof. 

[Signature page follows] 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed in accordance
with the Indenture. 
 Dated: 
  

			
	AVNET, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 I,             ,
                     of Avnet, Inc., do hereby certify that
                     is the duly elected, qualified and acting
                     of Avnet, Inc. and that the signature of
                     set forth above is his genuine signature. 

 

	
	  

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series referred to in the within-mentioned Indenture. 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

 (Reverse of Note) 

This Note is one of a duly authorized issue of 4.875% Notes due 2022 of the Company (herein called the “Notes”), and is to be
issued under an Indenture, dated as of June 22, 2010 (the “Indenture”), between the Company and Wells Fargo Bank, National Association, as trustee (herein called the “Trustee”, which term includes any successor trustee under
the Indenture), and an Officers’ Certificate setting forth the terms of the Notes, dated as of November 27, 2012, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the
face hereof. 
 1. Interest. The Notes shall bear interest from November 27, 2012 at the annual rate of
4.875%. 
 Except as otherwise provided below or in the Indenture, interest on any Note which shall be payable, and shall be
punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name the Note is registered in the Security Register at the close of business on the Regular Record Date for such interest. Interest on the Notes
shall be computed on the basis of a 360-day year of twelve 30-day months. 
 2. Method of Payment. So long as the Notes
are in the form of registered Global Notes, the Company shall wire, through the facilities of the Trustee, payments of principal of, and premium, if any, and interest on or the Redemption Price (as defined below) of the Notes, to the registered
owner of the Global Notes. The registered owner of the Global Notes initially will be Cede & Co., the nominee of DTC. The Company shall pay cash amounts in money of the United States that at the time of payment is legal tender for payment
of public and private debts. 
 3. Indenture. The Notes are the Company’s senior unsecured obligations, and the
aggregate principal amount of Notes that may be authenticated and delivered under the Indenture is unlimited. The terms, conditions and provisions of the Notes are those stated in the Indenture, those made part of the Indenture by reference to the
Trust Indenture Act of 1939, as amended, and those set forth in the Notes. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the Indenture shall
control. 
 4. Redemption at the Option of the Company. The Company may redeem the Notes, in whole or in part, at its
option, at any time and from time to time prior to the Stated Maturity on at least 30 days’, but not more than 60 days’, prior notice mailed to the registered address of each Holder of the Notes. The redemption price shall be equal to the
greater of (A) 100% of the principal amount of the Notes to be redeemed and (B) the sum of the present values of the Remaining Scheduled Payments discounted, on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at a rate equal to the sum of the Treasury Rate plus 50 basis points, plus, in each case, accrued and unpaid interest, if any, on the Notes to the Redemption Date (the “Redemption Price”). The principal amount of a Note remaining
Outstanding after redemption in part must be $2,000 or an integral multiple of $1,000 in excess thereof. Any Note that is to be redeemed only in part shall be surrendered at a Place of Payment therefor, and the

 
Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Note without service charge, a new Note of any authorized denomination, as requested by such Holder, in
aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Note so surrendered upon cancellation of the original Note. 
 Notice of redemption of the Notes to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the
Company and shall be irrevocable. Notice of redemption shall be given by mail, first class postage prepaid, not less than 30 or more than 60 calendar days prior to the Redemption Date, to each Holder of Notes to be redeemed, at his address appearing
in the Security Register. Once notice of redemption has been given in accordance with the Indenture, the Notes so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such
date (unless the Company defaults in the payment of the Redemption Price and accrued interest) such Notes will cease to accrue interest. 
 5. Offer to Repurchase on a Change of Control Triggering Event: If a Change of Control Triggering Event occurs, unless the Company has exercised its right to redeem the Notes in accordance with
Paragraph 4 hereof, each Holder of Notes shall have the right to require the Company to repurchase all or any part of such Holder’s Notes pursuant to the Change of Control Offer on the terms set forth herein and in the Indenture. In the Change
of Control Offer, the Company shall offer payment in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased, to the Change of Control Payment Date (subject to the
right of Holders of record on the relevant Regular Record Date to receive interest due on the Interest Payment Date). The principal amount of a Note remaining outstanding after a repurchase in part must be $2,000 or an integral multiple of $1,000 in
excess thereof. 
 Within 30 days following the date upon which the Change of Control Triggering Event has occurred or, at the
Company’s option, prior to any Change of Control, but after the public announcement of the transaction that may or shall constitute a Change of Control, except to the extent that the Company has exercised its right to redeem the Notes in
accordance with Paragraph 4 hereof, the Company shall cause a notice to be mailed to each Holder with a copy to the Trustee describing the transaction or transactions that may or will constitute a Change of Control Triggering Event and offering to
repurchase the Notes on the date specified in the notice, which date shall be no earlier than 30 days, but no later than 60 days from the date such notice is mailed. The notice shall, if mailed prior to the date of consummation of the Change of
Control, state that the Change of Control Offer is conditioned on the Change of Control being consummated on or prior to the Change of Control Payment Date. 
 On the Change of Control Payment Date, the Company shall, to the extent lawful: 
  

	 	•	 	 accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

	 	•	 	 deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered pursuant
to the applicable Change of Control Offer; and 

  

	 	•	 	 deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating the aggregate principal
amount of Notes or portions of Notes being purchased by the Company. 

 6. Defeasance. The Indenture
contains provisions for defeasance at any time of (a) the entire indebtedness evidenced by this Note or (b) certain restrictive covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions
set forth in the Indenture. 
 7. Persons Deemed Owners. Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note shall be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary. 
 8. Amendment; Waiver. The Indenture permits
the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes under the Indenture and this Note at any time by the Company and the Trustee with the consent of the Holders of not
less than a majority in principal amount of the Notes affected by the modification or amendment, except for certain amendments and modifications requiring the consent of the Holders of all Notes affected thereby and for certain other amendments and
modifications that may be made without the consent of the Holders of the Notes. The Company may also omit in any particular instance to comply with the provisions of the Indenture, with respect to the Notes, if the Holders of a majority in principal
amount of the Outstanding Notes shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision, or condition, but no such waiver shall extend to or affect such term, provision, or
condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision, or condition shall remain in full force and
effect. 
 The Holders of a majority in principal amount of the Outstanding Notes may on behalf of the Holders of all the Notes
waive any past default under the Indenture with respect to such Notes and its consequences, except a default (i) in the payment of the principal of or any premium or interest on any Note or (ii) in respect of a covenant or provision under
the Indenture which cannot be modified or amended without the consent of the Holder of each Outstanding Note affected. Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been
cured, for every purpose of the Indenture, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 
 9. Defaults and Remedies. If an Event of Default (other than an Event of Default specified in Sections 8.01 (v) and (vi) of the Indenture) occurs and shall be continuing, then in every
case either the Trustee or the Holders of at least 25% in principal amount of the Notes then 

 
Outstanding may declare the principal amount and the accrued and unpaid interest thereon, if any, of the Notes to be due and payable immediately, by a notice in writing to the Company (and to the
Trustee if given by Holders), and upon any such declaration such principal amount and the accrued and unpaid interest thereon, if any, will become immediately due and payable. If an Event of Default specified in Sections 8.01(v) and (vi) of the
Indenture occurs and shall be continuing, then the principal of, and premium, if any, and accrued and unpaid interest, if any, on, the Notes shall become immediately due and payable without any declaration or other act on the part of the Trustee or
any Holder. 
 No Holder of any Note shall have any right to institute any proceeding, judicial or otherwise, with respect to
the Indenture, or for the appointment of a receiver or trustee, or for any other remedy under the Indenture, unless (a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Notes,
(b) the Holders of not less than 25% in principal amount of the Outstanding Notes shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee under the Indenture,
(c) such Holder or Holders have offered to the Trustee indemnity satisfactory to the Trustee against the costs, expenses, and liabilities to be incurred in compliance with such request, (d) the Trustee for 60 calendar days after its
receipt of such notice, request, and offer of indemnity has failed to institute any such proceeding, and (e) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a
majority in principal amount of the Outstanding Notes, it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of the Indenture to affect,
disturb, or prejudice the rights of any other of such Holders (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders), or to obtain or
to seek to obtain priority or preference over any other of such Holders or to enforce any right under the Indenture, except in the manner provided in the Indenture and for the equal and ratable benefit of all of such Holders. 

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

10. Transfers and Exchanges of the Notes. As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note is registrable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any Place of Payment for the Notes, 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 and of like tenor, of authorized denominations
and for the same aggregate principal amount, shall be issued to the designated transferee or transferees. 
 The Notes will be
issued in registered form only in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

 11. Trustee Dealings with the Company. The Trustee, any Authenticating Agent, any
Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Notes and, subject to certain provisions of the Indenture, may otherwise deal with the Company with
the same rights it would have if it were not the Trustee, Authenticating Agent, Paying Agent, Security Registrar, or such other agent. 
 12. No Recourse Against Others. A director, officer or employee or stockholder, as such of the Company, shall not have any liability for any obligations of the Company under the Notes or the
Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder waives and releases all such liability. The waiver and release shall be part of the consideration for the issue
of the Notes. 
 13. Authentication. This Note shall not be valid until an authorized signatory of the Trustee manually
signs the Trustee’s Certificate of Authentication of this Note. 
 14. Governing Law. THIS NOTE SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF. 

15. Copy of Indenture. The Company shall furnish to any Holder upon written request and without charge a copy of the Indenture
which has in it the text of this Note. Requests may be made to: 
 AVNET, INC. 

2211 South 47th Street 
 Phoenix, Arizona 85034 
 Attn: Corporate Secretary 

16. Definitions. All terms used in this Note that are defined in the Indenture shall have the respective meanings assigned to them
in the Indenture. 

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: (I) or (We) assign and transfer this Note to 
  

	
	  

 (Insert assignee’s soc. sec. or tax I.D. no.) 

 

	
	  

  

	
	  

  

	
	  

  

	
	  

 (Print or type assignee’s name, address and zip code) 

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

	
	  

 Date:
                                         
    
 Your
Signature:                                       
                          
 (Sign exactly as your name appears 
 on the face of this
Note)                   
 Signature Guarantee*

  

	
	  

  

	*	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities
Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) in such other guarantee program acceptable to the Trustee.

 Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in
common), TEN ENT (=tenants by the entirety), JT TEN (=joint tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

 OPTION OF HOLDER TO ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Company pursuant to Section 15(A) of the Officer’s Certificate, check the box below: 

Section 15(A) 
 If you
want to elect to have only part of the Note purchased by the Company pursuant to Section 15(A) of the Officer’s Certificate, state the amount you elect to have purchased: 
 $                 
  

							
	Date:	 	  
	    	Your Signature:	 	 
		 		    		 	(Sign exactly as your name appears on the face of this Note)
				
		 		    	Tax Identification No:	 	 

 Signature Guarantee*: 
  

	
	  

 (*Participant in a Recognized Signature Guarantee 
 Medallion Program) 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of an interest in this Global Note for an interest in another Global Security or for a Certificated Security, or
exchanges of an interest in another Global Security or Certificated Security for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
Decrease in
Principal
Amount of
this Global
Notes	  	Amount of
Increase in
Principal
Amount of
this
Global
Note	  	Principal
Amount of this
Global
Note
Following Such
Decrease (or
Increase)	  	Signature of
Authorized
Officer or
Trustee or
Security
CustodianiPayment Holdings, Inc. Equity Incentive Plan

 Exhibit 10.1 
 iPAYMENT HOLDINGS, INC. 
 EQUITY INCENTIVE PLAN 

Article I 

Purpose 

iPayment Holdings, Inc. has established this equity incentive plan to foster and promote its long-term financial success. Capitalized
terms have the meaning given in Article X. 
 Article II 
 Powers of the Board of Directors 
 Section 2.1 Power to Grant
Awards. The Board shall select Eligible Employees to participate in the Plan. The Board shall determine the terms of each Award, consistent with the Plan. 
 Section 2.2 Administration. The Board shall be responsible for the administration of the Plan. The Board may prescribe, amend and rescind rules and regulations relating to the administration
of the Plan, provide for conditions and assurances it deems necessary or advisable to protect the interests of the Company and make all other determinations necessary or advisable for the administration and interpretation of the Plan. Any authority
exercised by the Board under the Plan shall be exercised by the Board in its sole discretion. Determinations, interpretations or other actions made or taken by the Board under the Plan reasonably and in good faith shall be final, binding and
conclusive for all purposes and upon all persons. 
 Section 2.3 Delegation by the Board. All of the powers, duties
and responsibilities of the Board specified in this Plan may be exercised and performed by any duly constituted committee thereof to the extent authorized by the Board to exercise and perform such powers, duties and responsibilities, and any
determination, interpretation or other action taken by such committee shall have the same effect hereunder as if made or taken by the Board. 
 Article III 
 Common Stock Subject to Plan 

Section 3.1 Number. Subject to the provisions of this Article III, the maximum number of shares of Common Stock that may be
issued under the Plan 

 
or subject to Awards may not exceed 1,250,000 shares. The Common Stock to be delivered under the Plan may consist, in whole or in part, of authorized but unissued Common Stock that is not
reserved for any other purpose. 
 Section 3.2 ISO Limitations. Subject to Sections 3.3 and 3.4, during the term of
the Plan, the maximum number of shares of Common Stock available for grant as ISOs pursuant to the Plan shall not exceed the maximum limitation specified in Section 3.1. 
 Section 3.3 Canceled, Terminated or Forfeited Awards; Common Stock Counting. Upon the grant of an Option, a share of Restricted Stock or a Phantom Unit, the maximum number of shares of Common
Stock set forth in Section 3.1 shall be reduced by the number of shares of Common Stock subject to such Award. Upon the exercise, settlement or conversion of any Award or portion thereof, there shall again be available for grant under the Plan
the number of shares of Common Stock subject to such Award or portion thereof minus the actual number of shares of Common Stock issued in connection with such exercise, settlement or conversion. If any such Award or portion thereof is for any reason
forfeited, canceled, expired or otherwise terminated without the issuance of shares of Common Stock, the shares of Common Stock subject to such forfeited, canceled, expired or otherwise terminated Award or portion thereof shall again be available
for grant under the Plan. If shares of Common Stock are withheld from issuance with respect to an Award by the Company in satisfaction of any tax withholding or similar obligations, such withheld shares of Common Stock shall again be available for
grant under the Plan. Awards that the Board reasonably determines will be settled in cash or will be forfeited shall not reduce the Plan maximum set forth in Section 3.1. 
 Section 3.4 Adjustment in Capitalization. If and to the extent necessary or appropriate to reflect any stock dividend, extraordinary dividend, stock split or share combination or any
recapitalization, merger, consolidation, exchange of shares or other securities, spin-off, liquidation or dissolution of the Company or other similar transaction affecting the Common Stock, the Board shall adjust the number of shares of Common Stock
available for issuance under the Plan and the number, class and exercise price of any outstanding Award, and/or make such substitution, revision or other provisions with respect to any outstanding Award or the holder or holders thereof, in each case
as it determines to be equitable. Without limiting the generality of the foregoing, in the event of any such transaction, the Board shall have the power to make such changes as it deems appropriate in the number and type of shares of Common Stock
covered by outstanding Awards, the prices specified therein (if applicable), and the securities, cash or other property to be received upon the exercise, settlement or conversion 

  
 2 

 
thereof. After any adjustment made pursuant to this Section, the number of shares of Common Stock subject to each outstanding Award shall be rounded down to the nearest whole number. Any action
taken pursuant to this Section 3.4 shall be effected in a manner that is exempt from or otherwise complies with Section 409A of the Code and, with respect to ISOs, in compliance with Sections 422 and 424 of the Code. 

Article IV 

Terms of Options 
 Section 4.1 Grant of Options. The Board may grant Options to Participants at such time or times as it shall determine. Options granted pursuant to this Plan may be of two types:
(i) “incentive stock options” within the meaning of Section 422 of the Code (“ISOs”) and (ii) nonstatutory stock options (“NSOs”), which are not ISOs. Each Option granted to a
Participant shall be evidenced by an Option Agreement that shall specify the number of shares of Common Stock that may be purchased pursuant to such Option, the exercise price at which shares of Common Stock may be purchased pursuant to such Option,
the Normal Expiration Date of such Option, and such other terms as the Board shall determine. ISOs may only be granted to Eligible Employees who are treated as common law employees of the Company or any “parent corporation” or
“subsidiary corporation” (as such terms are defined in Sections 424(e) and 424(f), respectively, of the Code). To the extent that the aggregate Fair Market Value of the shares of Common Stock with respect to which ISOs are exercisable
for the first time by a Participant during any calendar year exceeds $100,000 or, if different, the maximum limitation in effect at the time of grant under the Code (the Fair Market Value being determined as of the Grant Date for the Option), such
portion in excess of $100,000 shall be treated as NSOs. In applying the limitation contained in the previous sentence in the case of multiple Option grants, Options which were intended to be ISOs shall be treated as NSOs according to the order in
which they were granted such that the most recently granted Options are first treated as NSOs. 
 Section 4.2 Exercise
Price. The exercise price per share of Common Stock to be purchased upon exercise of an Option shall not be less than the Fair Market Value on the Grant Date of such Option, provided that for purposes of granting ISOs to an individual
who, as of the relevant Grant Date of an ISO, owns equity in the Company that, in the aggregate, possesses more than 10% of the total combined voting power of all classes of equity of the Company or any of its Affiliates as determined in accordance
with Section 422(b)(6) of the Code (a “Ten Percent Stockholder”), the exercise price of the Option must be at least 110% of the Fair Market Value of the shares of Common Stock subject to such Option. 

  
 3 

 Section 4.3 Vesting and Exercise of Options. Options shall become vested or
exercisable in accordance with a vesting schedule (such options, “Service Options”) or upon the attainment of such performance criteria as shall be determined by the Board on or before the Grant Date and as set forth in the
applicable Option Agreement (such options, “Performance Options”), in each case subject to the Participant’s continuous employment with the Company or a Subsidiary from the Grant Date through the applicable vesting date. The
Board may accelerate the vesting or exercisability of any or all Options at any time and from time to time. 
 Section 4.4
Payment. The Board shall establish procedures governing the exercise of Options, which procedures shall, unless the Board determines otherwise, generally require that prior written notice of exercise be given and that the exercise price
(together with any required withholding taxes or other similar taxes, charges or fees (the “Withholding Amounts”)) be paid in full in cash, cash equivalents or other readily available funds at the time of exercise. Notwithstanding
the foregoing, on such terms as the Board may establish from time to time, the Board may authorize the Company to establish cashless exercise procedures (including, following a Public Offering, broker-assisted cashless exercise procedures). In
connection with any Option exercise, the Company may require the Participant to furnish or execute such other documents as it shall reasonably deem necessary to (a) evidence such exercise, (b) determine whether registration
is then required under the U.S. federal securities laws or similar non-U.S. laws or (c) comply with or satisfy the requirements of the U.S. federal securities laws, applicable state or non-U.S. securities laws or any other law. Unless
the Board determines otherwise, as a condition to the exercise of any Option before a Public Offering a Participant shall become a party to the Stockholders Agreement with respect to such shares of Common Stock. Subject to Section 11.3, as soon
as practicable after receipt of a written exercise notice, payment of the Option exercise price and receipt of evidence of the Participant’s joinder to the Stockholders Agreement in accordance with this Section 4.4, the Company shall
reflect in its customary manner the acquisition of the acquired shares of Common Stock. 
 Section 4.5 Stockholder
Rights. Except as otherwise required by law, a Participant shall not have any rights as an equityholder with respect to any shares of Common Stock covered by the Options granted to such Participant under this Plan until such time as the shares
of Common Stock issuable upon exercise of such Options have been so issued. 

  
 4 

 Article V 
 Restricted Stock and Phantom Units 
 Section 5.1 Grants of
Restricted Stock and Phantom Units. The Board may grant Restricted Stock or Phantom Units to Participants at such time or times and on such terms and conditions as it shall determine. Restricted Stock and Phantom Units granted to a Participant
shall be evidenced by an Award Agreement that shall specify the number of shares of Restricted Stock or the number of Phantom Units that are being granted to the Participant, the vesting conditions applicable to such shares of Restricted Stock or
Phantom Units, the rights and obligations of the Participant with respect to such shares of Restricted Stock or Phantom Units, and such other terms and conditions as the Board shall determine (including, if determined by the Board, payment of a
portion of the Fair Market Value thereof). 
 Section 5.2 Conditions to Grant. Unless otherwise determined by the
Board, it shall be a condition to the issuance of Restricted Stock and the settlement of Phantom Units that the Participant who receives such Award become a party to the Stockholders Agreement. Unless otherwise determined by the Board, the
certificates evidencing Restricted Stock (if any) shall be held by the Secretary of the Company or another custodian selected by the Company. 
 Section 5.3 Vesting Conditions. Awards of Restricted Stock and Phantom Units shall vest in accordance with the vesting conditions specified in the applicable Award Agreement. These vesting
conditions may include, without limitation and alone or in any combination, the continued provision of services to the Company or any of its Affiliates or the achievement of individual, corporate, business unit or other performance goals. Awards of
Restricted Stock (prior to the vesting thereof) and Phantom Units (prior to the settlement thereof) may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated other than as permitted by the Board. 

Section 5.4 Equityholder Rights; Dividend Equivalents. Awards of Restricted Stock shall have such voting and dividend rights
as the Board shall, in its discretion, determine. With respect to Awards of Phantom Units, the Board shall set forth in the related Award Agreement whether the payment of dividends, or a specified portion thereof, declared or paid on shares of
Common Stock by the Company shall be (i) not paid to Participants holding Awards of Phantom Units in respect of any period prior to the issuance of Common Stock therefor, (ii) paid without restriction or deferral or
(iii) credited but deferred until the lapsing of the vesting restrictions imposed upon such Phantom Units. In the event that dividend equivalent payments are to be deferred, the Board shall set forth in the related

  
 5 

 
Award Agreement whether such dividend equivalent payments are to be deemed reinvested in Common Stock (which shall be held as additional Phantom Units) or held in cash or other notional
instruments. Unless the Board determines otherwise in a manner more favorable to a Participant, payment of deferred dividend equivalent payments in respect of Phantom Units (whether held in cash or as additional Phantom Units or other notional
instruments), shall be made upon the vesting of the Phantom Units to which such deferred dividend equivalent payments relate, and any dividend equivalent payments so deferred in respect of any Phantom Units shall be forfeited upon the forfeiture of
the related Phantom Units. 
 Section 5.5 Tax Withholding. Subject to the discretion of the Board, the Board may
establish procedures by which the vesting and settlement of Restricted Stock or Phantom Units may occur on a cashless basis (including, following a Public Offering, broker-assisted cashless settlement procedures). 

Section 5.6 Board Discretion. Notwithstanding anything else contained in this Plan to the contrary, the Board may accelerate
the vesting of any shares of Restricted Stock or Phantom Units or any class or series of Restricted Stock or Phantom Units for any reason on such terms and subject to such conditions, as the Board shall determine, at any time and from time to time.

 Article VI 
 Effect of Termination of Employment on 
 Options, Restricted Stock and
Phantom Units 
 The Award Agreement relating to an Award will set forth the effect of a termination of a Participant’s
employment on the unvested Awards held by such Participant and the post-termination exercise period applicable to any Options that are not forfeited upon such termination of employment. 

Article VII 

Change in Control 
 Section 7.1 Accelerated Vesting and Payment of Time-Based Awards; Treatment of Performance-Based Awards. (i) Unless otherwise provided in the Award Agreement,
(x) immediately prior to a Change in Control, all then-outstanding unvested Service Options shall automatically vest such that all then-outstanding Options shall, immediately prior to the effective date of the Change in Control, be fully
vested and exercisable, and (y) upon the Change in Control, each then-outstanding Option shall be canceled in exchange for a payment in an amount 

  
 6 

 
or with a value equal to the excess, if any, of the Change in Control Price over the exercise price for such Option (with Options as to which such value is negative being cancelled without
consideration); (ii) unless otherwise provided in the Award Agreement, upon a Change in Control, the Restriction Period applicable to all shares of Restricted Stock that are subject to time-based vesting shall expire and all such shares
of Restricted Stock shall vest and become non-forfeitable; and (iii) upon a Change in Control, each Phantom Unit that is subject to time-based vesting shall be treated as provided in the written Award Agreement governing such Phantom
Unit (which treatment shall be effected in a manner that is exempt from or otherwise complies with Section 409A of the Code). The effect of a Change in Control on Awards subject to performance-based vesting, including Performance Options, shall
be as set forth in the Award Agreements evidencing such Awards. 
 Section 7.2 Limitation on Benefits.
Notwithstanding anything contained in the Plan or an Award Agreement to the contrary, if, whether as a result of accelerated vesting of an Award or otherwise, a Participant would receive any payment, deemed payment or other benefit as a result of
the operation of Section 7.1 that, together with any other payment, deemed payment or other benefit a Participant may receive under any other plan, program, policy or arrangement (all amounts referred to above, “Total
Payments”), would constitute an “excess parachute payment” under Section 280G of the Code, then the payments, deemed payments or other benefits such Participant would otherwise receive under Section 7.1 shall be reduced
to the minimum extent necessary so that no portion of the Total Payments constitutes an excess parachute payment and such Participant shall have no further rights or claims to the extent of the amounts that are so reduced. If the preceding sentence
would result in a reduction of the payments, deemed payments or other benefits a Participant would otherwise receive in more than an immaterial amount, the Company shall use its commercially reasonable best efforts to cause such reduced payments or
other benefits to be approved in the manner provided for in Section 280G(b)(5) of the Code and the regulations thereunder, so that such payments would not be treated as “parachute payments” for these purposes (and therefore would
cease to be subject to reduction pursuant to this Section 7.2). This Section 7.2 shall expire and cease to be of force and effect upon the occurrence of a Public Offering. 

Article VIII 

Authority to Vary Terms or Establish Local Jurisdiction Plans 

The Board may vary the terms of Awards under the Plan, or establish sub-plans under this Plan to authorize the grant of awards that have
additional or 

  
 7 

 
different terms or features from those otherwise provided for in the Plan, if and to the extent the Board determines necessary or appropriate to permit the grant of awards that are best suited to
further the purposes of the Plan and to comply with applicable securities laws in a particular jurisdiction or provide terms appropriately suited for Participants in such jurisdiction in light of the tax laws of such jurisdiction while being as
consistent as otherwise possible with the terms of Awards under the Plan; provided that this Article VIII shall not be deemed to authorize any increase in the number of shares of Common Stock available for issuance under the Plan set forth in
Section 3.1. 
 Article IX 
 Amendment, Modification, and Termination of the Plan 
 The Board may
terminate or suspend the Plan at any time, and may amend or modify the Plan from time to time. No amendment, modification, termination or suspension of the Plan shall in any manner adversely affect any Award theretofore granted under the Plan
without the consent of the Participant holding such Award. Equityholder approval of any such amendment, modification, termination or suspension shall be obtained to the extent mandated by applicable law, or if otherwise deemed appropriate by the
Board. 
 Article X 
 Definitions 
 Section 10.1 Definitions. Whenever used herein,
the following terms shall have the respective meanings set forth below: 
 “Affiliate” shall
mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control with such first Person. For these purposes, “control” (including the terms “controlled by” and
“under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of a Person by reason of ownership of voting securities, by contract or otherwise. For
purposes of applying this definition to trusts and other estate planning vehicles, a trust or other estate planning vehicle established by a Person shall be treated as an Affiliate of such Person (regardless of the identity of the trustee of such
trust (or analogous position for estate planning vehicles other than trusts)). 

  
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 “Award” shall mean an Option, or a share of Restricted
Stock or a Phantom Unit, in each case granted pursuant to the terms of the Plan. 
 “Award
Agreement” means an Option Agreement or any other agreement evidencing an Award. 

“Board” means the Board of Directors of iPayment Holdings, Inc., or, to the extent that a delegation to
a committee has occurred as provided in Section 2.3, such committee (to the extent of such delegation). 

“Cause” shall, as to any Participant, have the meaning set forth in the employment agreement to which
the Participant is a party with the Company or an Affiliate, or, in the absence of such an employment agreement, shall mean any of the following: (i) the Participant’s conviction of (including a plea of no contest (or action having
similar effect) to) a crime involving fraud, theft, false statements or other similar acts, or conviction of (including a plea of no contest (or action having similar effect) to) any crime that is a felony (or a comparable classification in a
jurisdiction that does not use these terms); (ii) the Participant’s willful or grossly negligent failure to perform his or her employment-related duties for the Company and its Subsidiaries; (iii) the Participant’s
material breach of any Award Agreement, employment agreement, or noncompetition, nondisclosure or nonsolicitation agreement to which the Participant is a party or by which the Participant is bound; (iv) the Participant’s engaging in
any conduct that is materially injurious or materially detrimental to the Company or any of its Subsidiaries; or (v) the determination by the Board, made in its sole discretion, that the Participant’s job performance has been
unsatisfactory. The determination as to whether “Cause” has occurred shall be made in the reasonable and good faith judgment of the Board, which shall have the authority to waive the consequences under the Plan of the existence or
occurrence of any of the events, acts or omissions constituting “Cause.” A termination for Cause shall be deemed to include a determination following a Participant’s termination of employment for any reason that the circumstances
existing prior to such termination for the Company or one of its Subsidiaries to have terminated such Participants employment for Cause. 
 “Change in Control” means the first to occur of the following events after the Effective Date: 
 (i) the acquisition by any person, entity or “group” (as defined in Section 13(d) of the Securities Exchange Act of 1934, as 

  
 9 

 
amended) of the combined voting power with respect to the Company (the “Voting Power”), other than any such acquisition by the Company, any of its Subsidiaries, any employee
benefit plan of the Company or any of its Subsidiaries, such that such person, entity or group holds 51% or more of the Voting Power; 
 (ii) the merger, consolidation or other similar transaction involving the Company, as a result of which persons who hold the Voting Power immediately prior to such merger, consolidation, or other similar
transaction do not, immediately thereafter, own, directly or indirectly, 51% or more of the Voting Power; or 

(iii) the sale, transfer or other disposition of all or substantially all of the assets of the Company to one or more
persons or entities that are not, immediately prior to such sale, transfer or other disposition, Affiliates of the Company. 

Notwithstanding the foregoing, a Public Offering shall not constitute a Change in Control. 

“Change in Control Price” means the price per share of Common Stock offered in conjunction with any
transaction resulting in a Change in Control. If any part of the offered price is payable other than in cash, the Change in Control price shall be determined in good faith by the Board as constituted immediately prior to the Change in Control.

 “Code” means the United States Internal Revenue Code of 1986, as amended, and any successor
thereto. 
 “Common Stock” means the common stock of the Company, par value $0.01 per share.

 “Company” means iPayment Holdings, Inc., a Delaware corporation, and any successor thereto;
provided that for purposes of determining the status of a Participant’s employment with the “Company,” such term shall include the Company and/or any of its Subsidiaries that employ the Participant. 

“Disability” means, unless otherwise provided in an Award Agreement, a Participant’s long-term
disability within the meaning of the long-term disability insurance plan or program of the Company or any Subsidiary then covering the Participant, or in the absence of such a plan or 

  
 10 

 
program, as determined by the Board; provided that, with respect to ISOs, the definition of “Disability” shall also comply with Section 22(e)(3) of the Code. The
Board’s reasoned and good faith judgment of Disability shall be final and shall be based on such competent medical evidence as shall be presented to it by the Participant or by any physician or group of physicians or other competent medical
expert employed by the Participant or the Company to advise the Board. 
 “Effective Date” has
the meaning given in Section 11.11. 
 “Eligible Employee” means any executive, officer or
other key employee of the Company or any Subsidiary, as determined by the Board. 
 “Fair Market
Value” means, as of any date of determination prior to a Public Offering, the fair market value on such date of a share of Common Stock as determined in good faith by the Board, in compliance with Section 409A of the Code and, with
respect to ISOs, Section 422 of the Code. Following a Public Offering, “Fair Market Value” shall mean, as of any date of determination, the mid-point between the high and the low trading prices for such date of a share of Common Stock
as reported on the principal stock exchange on which the Common Stock is then listed. 
 “Good
Reason” shall, as to any Participant, have the meaning set forth in the employment agreement to which the Participant is a party with the Company or an Affiliate, or, in the absence of such an employment agreement, shall mean any of the
following: (x) a material reduction in the Participant’s base salary; or (y) the Company requiring the Participant to relocate the principal geographic location where the Participant must perform his services to the
Company or any Subsidiary outside of the geographic location where the Participant provides his service as of the Grant Date with respect an Award. In order for a termination by a Participant to constitute a termination for Good Reason,
(A) the Participant must notify the Company of the existence of the condition which the Participant believes constitutes Good Reason within thirty (30) days of the initial existence of such condition, (B) the Company
must fail to remedy such condition within fifteen (15) days after the date on which it receives such notice (the “Remedial Period”), and (C) the Participant must actually terminate employment within ten
(10) days after expiration of the Remedial Period. 
 “Grant Date” means, with respect to
any Award, the date as of which such Award is granted pursuant to the Plan. 

  
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 “Indemnified Person” has the meaning given in
Section 11.1. 
 “ISO” has the meaning given in Section 4.1. 

“Normal Expiration Date” means the date on which the Options will expire if they have not otherwise
expired earlier in accordance with the Plan, as shall be set forth in the applicable Option Agreement, provided that (i) such date shall not be later than the tenth anniversary of the Grant Date (or, with respect to ISOs, the day
prior to the tenth anniversary of the Grant Date (the day prior to the fifth anniversary with respect to an Option granted to a Ten Percent Stockholder)) and (ii) if no such date is set forth in the Option Agreement, then the Normal
Expiration Date shall be the tenth anniversary of the Grant Date. 
 “NSO” has the meaning
given in Section 4.1. 
 “Option” means the right granted pursuant to the Plan to purchase
one share of Common Stock. 
 “Option Agreement” means an agreement between the Company and a
Participant embodying the terms of any Options granted pursuant to the Plan and in the form approved by the Board from time to time for such purpose. 
 “Participant” means any Eligible Employee who is granted an Award. 
 “Performance Options” has the meaning given in Section 4.3. 
 “Permitted Transferee” has the meaning given in the Stockholders Agreement. 
 “Person” means any natural person, firm, partnership, limited liability company, association, corporation, company, trust, business trust, governmental authority or other entity.

 “Phantom Unit” means a contractual right of a Participant to receive a stated number of
shares of Common Stock, or at the discretion of the Board, cash based on the Fair Market Value of such shares of Common Stock, under the Plan at the end of a specified period of time, upon the occurrence of a specified event or in accordance with
the terms of the Plan or applicable Award Agreement or that is subject to a Restriction Period. 

  
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 “Plan” means this iPayment Holdings, Inc. Equity Incentive
Plan. 
 “Public Offering” means the first day as of which (i) sales of shares of
Common Stock are made to the public in the United States pursuant to an underwritten public offering of the Common Stock led by one or more underwriters, at least one of which is an underwriter of nationally recognized standing, with aggregate gross
cash proceeds (without regard to any underwriting discount or commission) equal to at least 20% of the value of all outstanding shares of Common Stock (on a fully diluted basis) on such date, or (ii) the Board has determined that shares
of Common Stock otherwise have become publicly traded for this purpose. 
 “Restricted Stock”
means Common Stock subject to a Restriction Period granted to a Participant under the Plan. 

“Restriction Period” means the period during which any shares of Restricted Stock or Phantom Units are
subject to forfeiture and/or restrictions on transfer pursuant to the terms of the Plan. 
 “Service
Options” has the meaning given in Section 4.3. 
 “Special Termination” means a
termination by reason of the Participant’s death or Disability. 
 “Stockholders
Agreement” means the Stockholders Agreement of iPayment Holdings, Inc., dated as of August 28, 2012, and as amended from time to time. 
 “Subsidiary” means any corporation, limited liability company or other entity, a majority of whose outstanding voting securities is owned, directly or indirectly, by the Company, or, with
respect to ISOs, as determined pursuant to Section 424(f) of the Code. 
 “Ten Percent
Stockholder” has the meaning given in Section 4.1. 
 “Withholding Amounts” has
the meaning given in Section 4.4. 
 Section 10.2 Gender and Number. Except when otherwise indicated by the
context, words in the masculine gender used in the Plan shall include the feminine gender, the singular shall include the plural, and the plural shall include the singular. 

  
 13 

 Article XI 
 Miscellaneous Provisions 
 Section 11.1 Indemnification. Each
person who is or shall have been a member of the Board (an “Indemnified Person”) shall be indemnified and held harmless by the Company against and from any loss, cost, liability or expense that may be imposed upon or reasonably
incurred by such Indemnified Person in connection with or resulting from any claim, action, suit or proceeding to which such Indemnified Person may be made a party or in which such Indemnified Person may be involved by reason of any action taken or
failure to act under the Plan or any Award Agreement and against and from any and all amounts paid by such Indemnified Person in settlement thereof, with the Company’s approval, or paid by such Indemnified Person in satisfaction of any judgment
in any such action, suit or proceeding against such Indemnified Person; provided that such Indemnified Person acted in good faith and in a manner such Indemnified Person reasonably believed to be in or not opposed to the best interests of the
Company and, with respect to any criminal proceeding, had no reasonable cause to believe his or her conduct was unlawful; provided further that, such Indemnified Person shall give the Company an opportunity, at its own expense, to
handle and defend the same before such Indemnified Person undertakes to handle and defend it on such Indemnified Person’s own behalf. Expenses, including attorneys’ fees, incurred by an Indemnified Person in defending any civil, criminal,
administrative or investigative action, suit or proceeding shall be paid by the Company in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of the Indemnified Person to repay such
amount if it shall ultimately be determined that he or she is not entitled to be indemnified by the Company. The foregoing right of indemnification shall not be exclusive and shall be independent of any other rights of indemnification to which such
Indemnified Person may be entitled under the Stockholders Agreement, by contract, as a matter of law or otherwise. 

Section 11.2 Nontransferability of Awards. Except as otherwise provided herein or as the Board may permit on such terms as it
shall determine, no Awards granted under the Plan may be sold, transferred, pledged, assigned, hedged, encumbered or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution or, with respect to Awards that
are not ISOs and if permitted by the Board, for estate planning purposes. All rights with respect to Awards granted to a Participant under the Plan shall be exercisable during the Participant’s lifetime by such Participant only or, with respect
to Awards that are not ISOs and if permitted by the Board, a Permitted Transferee (or, in the event of the Participant’s Disability, such Participant’s legal representative). Following a Participant’s death, all rights with respect to
Awards that were outstanding at the 

  
 14 

 
time of such Participant’s death and that have not terminated shall be exercised by his designated beneficiary or by his estate in the absence of a designated beneficiary. Shares of Common
Stock held by a Participant in respect of vested Awards may only be transferred to the extent permitted by the Stockholders Agreement. 
 Section 11.3 Tax Withholding. The Company or the Subsidiary employing a Participant shall have the power to withhold up to the minimum statutory requirement, or to require such Participant to
remit to the Company or such Subsidiary, an amount sufficient to satisfy all U.S. federal, state, local and any non-U.S. withholding tax or other governmental tax, charge or fee requirements in respect of any Award granted under the Plan.

 Section 11.4 Beneficiary Designation. Pursuant to such rules and procedures as the Board may from time to time
establish, a Participant may name a beneficiary or beneficiaries (who may be named contingently or successively) by whom any right under the Plan is to be exercised in case of such Participant’s death. Each designation will revoke all prior
designations by the same Participant, shall be in a form reasonably prescribed by the Board, and will be effective only when filed by the Participant in writing with the Board during his lifetime. 

Section 11.5 No Guarantee of Employment or Participation. Nothing in the Plan or in any agreement granted hereunder shall
interfere with or limit in any way the right of the Company or any Subsidiary to terminate any Participant’s employment or retention at any time, or confer upon any Participant any right to continue in the employ or retention of the Company or
any Subsidiary. No Eligible Employee shall have a right to be selected as a Participant or, having been so selected, to receive any other or future Awards. For purposes of this Plan, the “employment” of a Participant shall be deemed to
refer to the Participant’s provision of services to the Company or any Subsidiary as an employee or independent contractor, and the “termination of employment” and corollary phrases with respect to a Participant shall be deemed to
refer to the Participant’s cessation of such services with respect to all such persons in all capacities. 

Section 11.6 No Limitation on Compensation; No Impact on Benefits. Nothing in the Plan shall be construed to limit the right
of the Company or any Subsidiary to establish other plans or to pay compensation to its employees, in cash or property, in a manner that is not expressly authorized under the Plan. Except as may otherwise be specifically and unequivocally stated
under any employee benefit plan, policy or program, no amount payable in respect of any Award shall be treated as compensation for purposes of calculating a Participant’s rights under any such plan, policy or program. The selection of an
Eligible 

  
 15 

 
Employee as a Participant shall neither entitle such employee to, nor disqualify such employee from, participation in any other award or incentive plan. 

Section 11.7 No Voting Rights. Except as otherwise required by law, no Participant holding any Awards granted under the Plan
shall have any right in respect of such Awards to vote on any matter submitted to the Company’s equityholders until such time as the shares of Common Stock underlying such Awards have been issued, and then, subject to the voting restrictions
(if any) contained in the Stockholders Agreement. 
 Section 11.8 Requirements of Law. The granting of Awards and
the issuance of shares of Common Stock pursuant to the Plan shall be subject to all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. No Awards shall be
granted under the Plan, and no shares of Common Stock shall be issued under the Plan, if such grant or issuance would result in a violation of applicable law, including U.S. federal securities laws and any applicable state or non-U.S. securities
laws. 
 Section 11.9 Freedom of Action. Nothing in the Plan or any Award Agreement shall be construed as limiting
or preventing the Company or any Subsidiary from taking any corporate action (such as acquisitions, dispositions, entry into new lines of business and the incurrence of indebtedness) that it deems appropriate or in its best interest (as determined
in its sole and absolute discretion) and no Participant (or person claiming by or through a Participant) shall have any right relating to the diminishment in the value of any Award as a result of any such action, so long as such action is not
directly governed by or is not directly related to the administration of the Plan or any Award Agreement. This Section 11.9 shall not be construed to enlarge the rights of the Company or the Board hereunder with respect to the interpretation or
administration of the Plan or any Award Agreements. 
 Section 11.10 Unfunded Plan; Plan Not Subject to ERISA. The
plan is an unfunded plan and Participants shall have the status of unsecured creditors of the Company. The Plan is not intended to be subject to the Employee Retirement Income Security Act of 1974, as amended. 

Section 11.11 Effective Date; Term of Plan. The Plan shall be effective as of September 1, 2012 (the “Effective
Date”) and shall continue in effect, unless sooner terminated pursuant to Article IX, until the tenth anniversary of such date. The provisions of the Plan shall continue thereafter to govern all outstanding Awards. 

  
 16 

 Section 11.12 Governing Law. The Plan, and all agreements hereunder, shall be
governed by and construed in accordance with the law of the State of Delaware regardless of the application of rules of conflict of law that would apply the laws of any other jurisdiction. 

Section 11.13 Section 409A of the Code. This Plan and the Award Agreements entered into pursuant to this Plan are
intended to be exempt from or to comply with the requirements of Section 409A of the Code and shall be construed and interpreted in accordance with such intent. 
 Section 11.14 Equityholder Approval. If the Board determines to grant ISOs under the Plan, the Company shall submit the Plan to the holders of the Company’s Common Stock for approval not
later than 12 months before or after the applicable grant date. No ISOs may be exercised prior to the date of such equityholder approval, and if the equityholders do not grant such approval within such period, any ISOs previously granted shall
be forfeited and canceled without payment therefor. Other than as set forth in the immediately preceding sentence, equityholder approval shall be obtained if and to the extent required by applicable law. 

Section 11.15 California Securities Laws. Notwithstanding any provision of the Plan to the contrary, to the extent required
by the laws, rules or regulations of the State of California or any subdivision or agency thereof, continuance of the Plan shall be subject to approval by a majority of the shareholders of the Company within twelve (12) months before or after
the date of the first grant under the Plan. Such shareholder approval shall be obtained in the degree and manner required under applicable laws. 

  
 17

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