Document:

EX-10.1

 Exhibit 10.1 
 SEVERANCE AGREEMENT 
 This Severance Agreement
(the “Agreement”) is made as of this 14th day of
February, 2013 by and between American Superconductor Corporation (the “Company”), and Timothy D. Poor (the “Executive”). 
 WHEREAS, the Executive served as the Company’s Executive Vice President, Windtec Solutions; 
 WHEREAS, the Company and the Executive believe that was in their mutual best interests for the Company to terminate the Executive’s employment effective December 31, 2012 (the
“Termination Date”), as part of a Company restructuring; 
 WHEREAS, the Executive and the Company are parties
to an Amended and Restated Executive Severance Agreement dated December 23, 2008 (“Executive Agreement”) and an offer letter dated July 20, 2001, with addendum dated July 27, 2001 (the “Offer Letter”); 

WHEREAS, the Executive and the Company believe that it is in their mutual interests to terminate the Executive Agreement and Offer
Letter and secure the benefits in accordance with this Agreement; 
 WHEREAS, the Executive holds 56,666 shares of
time-based restricted stock awards issued to him under the Company’s 2007 Stock Incentive Plan, as amended, which pursuant to their terms were forfeited to the Company on the Termination Date;  

WHEREAS, as part of this Agreement, on December 27, 2012, the Company received authorization from the Compensation Committee
of the Board of Directors of the Company (the “Compensation Committee”) to (i) award of 56,666 restricted stock units under the Company’s 2007 Stock Incentive Plan, as amended (which is equal to the number of shares of time-based
restricted stock awards forfeited on the Termination Date), with each such restricted stock unit representing the right to receive one share of common stock, $0.01 par value per share of the Company (the “Common Stock”), (ii) provide
for the accelerated vesting of certain outstanding options to purchase 72,000 shares of Common Stock held by the Executive as set forth in Paragraph 1(d)(i) below, and (iii) extend the exercise date of certain outstanding options to purchase
87,000 shares of Common Stock held by the Executive as set forth in Paragraph 1(d)(ii) below;  
 WHEREAS, the
Company also agreed to offer the Executive the Severance Benefits (as defined below) set forth in Paragraph 1 below, and initially provided that he sign and return this Agreement to John Powell at the Company no earlier than the Termination Date but
no later than February 14, 2013 and does not revoke it as set forth in Paragraph 13 below; 

 WHEREAS, if the Executive does not sign and return this Agreement by
February 14, 2013, then (i) the Severance Benefits set forth in Paragraph 1 below, and (ii) all other terms and conditions offered to the Executive in this Agreement shall expire and no longer be capable of being accepted; and

 WHEREAS, the Company advised the Executive to consult with an attorney of his own choosing prior to executing this
Agreement and the Executive has done so. Based on that consultation, the Executive has requested certain changes to this Agreement which the Company has agreed to make. Both the Company and Executive agree that these changes are not material and
shall not restart the consideration period. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
contained herein, the parties agree as follows: 
 1. Severance Benefits. Provided the Executive timely signs and returns this
Agreement no earlier than his Termination Date but no later than February 14, 2013, and does not revoke this Agreement, the Company will provide him, subject to the terms and conditions set forth in Attachment A, the following severance
benefits (the “Severance Benefits”): 
 (a) Severance Pay Award. The Company issued to the
Executive an award of $366,000 in restricted stock units (the “Severance Pay Award”) under the Company’s 2007 Stock Incentive Plan, as amended, with each such restricted stock unit representing the right to receive one share of Common
Stock. The Severance Pay Award shall consist of that number of restricted stock units equal to $366,000, divided by the closing stock price for shares of Common Stock on the Nasdaq Global Select Market as of the last business day prior
to the Termination Date. The Severance Pay Award will vest on the eighth (8th) day after the Executive’s execution and timely return of this Agreement (provided he has not revoked his acceptance of the Agreement). In addition, Executive’s signature below indicates
your agreement that all applicable taxes and withholdings with respect to the Severance Pay Award will be satisfied by his irrevocable election to “sell to cover” an appropriate number of shares of Common Stock through your Company E-Trade
account (or other brokerage account with a broker chosen by the Company). If the Executive revokes his acceptance of this Agreement, then the Severance Pay Award shall be forfeited immediately and automatically to the Company without any further
action by the Executive. 
 (b) Pro-Rata Annual Bonus. Although not otherwise eligible, the Company will pay to the
Executive a pro-rata fiscal 2012 executive incentive plan bonus payment based on the nine (9) full months worked in fiscal year ending March 31, 2013. The actual bonus amount will be determined by the Compensation Committee in its sole and
absolute discretion following the Company’s filing of its Annual Report on Form 10-K with the Securities and Exchange Commission and paid, less all applicable taxes and withholdings, in accordance with plan terms. 

(c) Grant of Restricted Stock Units. On or prior to December 28, 2012, the Compensation Committee will have granted to the
Executive 56,666 restricted stock units 

  
 - 2 -

 
under the Company’s 2007 Stock Incentive Plan, as amended (the “RSU Award”), with each such restricted stock unit representing the right to receive one share of Common Stock. The
RSU Award will vest on the eighth (8th) day after the
Executive’s execution and timely return of this Agreement (provided he has not revoked his acceptance of the Agreement). In addition, Executive’s signature below indicates his agreement that all applicable taxes and withholdings with
respect to the RSU Award will be satisfied by his irrevocable election to “sell to cover” an appropriate number of shares of Common Stock through his Company E-Trade account (or other brokerage account with a broker chosen by the Company).
If the Executive revokes his acceptance of this Agreement, then the RSU Award shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Executive or any further action by the Executive.

 (d) Acceleration and/or Extension of Certain Option Grants. 

(i) Acceleration of Outstanding Options. The Compensation Committee has approved that on the eighth (8th) day after the Executive’s execution and timely return of
the Agreement (provided he has not revoked his acceptance of the Agreement), the Executive shall become fully vested in all of the 72,000 options to purchase shares of Common Stock that remain unvested from the Executive’s:
(x) September 26, 2011 option grant, of which 30,000 options remained unvested; and (y) May 9, 2012 option grant, of which 42,000 options remain unvested, pursuant to the Company’s 2007 Stock Incentive Plan, as amended.

 (ii) Extension of Option Exercise Dates. The Compensation Committee has approved that on the
eighth (8th) day after the Executive’s execution
and timely return of the Agreement (provided he has not revoked his acceptance of the Agreement), the Executive’s period to exercise: (x) the 45,000 vested options granted on September 26, 2011 shall remain exercisable until
March 1, 2014, and (y) the 42,000 vested options granted on May 9, 2012 shall remain exercisable until March 1, 2014, unless the exercise period is terminated earlier in accordance with section (g) of this Paragraph 1 or in
accordance with the terms of the applicable governing plan document. 
 (e) COBRA Continuation. Provided the Executive is
eligible for and timely elects to continue receiving group medical insurance pursuant to the federal “COBRA” law, 29 U.S.C. § 1161 et seq. and for so long as he does not become eligible for coverage under another group health
plan maintained by a subsequent employer, for a period of up to twelve (12) months following the Termination Date, the Company shall pay the share of the premium for family health and family dental coverage that is paid by the Company for
active and similarly situated employees who receive the same type of coverage; provided, however, that (i) the Company and the Executive mutually agree that if such payments by the Company would cause the Company to be subject to
material tax liability or penalties, the parties will make reasonable efforts to restructure the arrangement consistent with the intent of this provision so as to avoid such adverse tax consequence, and (ii) to the extent such benefits cannot
be provided to non-employees, then the Executive will receive the cash equivalent thereof, based on the cost thereof to the Company, paid proportionately over a twelve (12) month period. All other Company benefits will end on the Termination
Date. 

  
 - 3 -

 (f) Outplacement. The Company will provide the Executive with executive outplacement
services with the firm of Lee Hecht Harrison. All costs for the services will be paid by the Company provided the Executive initiate use of the services by June 30, 2013. 
 (g) Ability to Terminate Payments. In the event the Executive is in breach of or violates any provision of this Agreement, including but not limited to the post-employment obligations set forth in
Paragraphs 5, 6 and 7, the Company shall have the right to immediately cease making any remaining payments or providing benefits to the Executive pursuant to this Agreement. Executive further agrees that if any remaining payments or benefits cease
pursuant to this section (g) of Paragraph 1, the Release of Claims set forth in Paragraph 2 shall remain in full force and effect and that to the extent the Executive has not exercised outstanding options with the Company, such ability to
exercise such options will terminate immediately and automatically as of the date the Company notifies the Executive in writing of such termination. Such written notification will be mailed to the Executive’s last known address in the
Company’s records. 
 2. Release of Claims. (a) In consideration of the Severance Benefits, which the Executive
acknowledges he would not otherwise be entitled to receive, the Executive hereby fully, forever, irrevocably and unconditionally releases, remises and discharges the Company, its affiliates, subsidiaries, parent companies, predecessors, and
successors, and all of their respective past and present officers, directors, stockholders, partners, members, employees, agents, representatives, plan administrators, attorneys, insurers and fiduciaries (each in their individual and corporate
capacities) (collectively, the “Released Parties”) from any and all claims, charges, complaints, demands, actions, causes of action, suits, rights, debts, sums of money, costs, accounts, reckonings, covenants, contracts, agreements,
promises, doings, omissions, damages, executions, obligations, liabilities, and expenses (including attorneys’ fees and costs), of every kind and nature that the Executive ever had or now has against any or all of the Released Parties,
including, but not limited to, any and all claims arising out of or relating to the Executive’s employment with and/or separation from the Company, including, but not limited to, all claims under Title VII of the Civil Rights Act of 1964, 42
U.S.C. § 2000e et seq., the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., the Americans With Disabilities Act of 1990, 42 U.S.C. § 12101 et seq., the Genetic Information
Nondiscrimination Act of 2008, 42 U.S.C. § 2000ff et seq., the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq., the Worker Adjustment and Retraining Notification Act (“WARN”), 29 U.S.C. §
2101 et seq., the Rehabilitation Act of 1973, 29 U.S.C. § 701 et seq., Executive Order 11246, Executive Order 11141, the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., and the Employee Retirement
Income Security Act of 1974 (“ERISA”), 29 U.S.C. § 1001 et seq., all as amended; all claims arising out of the Massachusetts Fair Employment Practices Act., Mass. Gen. Laws ch. 151B, § 1 et seq., the
Massachusetts Civil Rights Act, Mass. Gen. Laws ch. 12, §§ 11H and 11I, the Massachusetts Equal Rights Act, Mass. Gen. Laws. ch. 93, § 102 and Mass. Gen. Laws ch. 214, § 1C, the Massachusetts Labor and Industries Act, Mass. Gen.
Laws ch. 149, § 1 et seq., Mass. Gen. Laws ch. 214, § 1B (Massachusetts right of privacy law), the Massachusetts Maternity Leave Act, Mass. Gen. Laws ch. 149, § 105D, and the Massachusetts Small Necessities Leave Act,
Mass. Gen. Laws ch. 149, § 52D, all as amended; all claims arising out of the Wisconsin Fair Employment Act, Wis. 

  
 - 4 -

 
Stat. § 111.31 et seq., the Wisconsin Family and Medical Leave Act, Wis. Stat. § 103.10 et seq., and the Wisconsin Business Closing Law, Wis. Stat. § 109.07, all as amended; all
common law claims including, but not limited to, actions in defamation, intentional infliction of emotional distress, misrepresentation, fraud, wrongful discharge, and breach of contract (including, without limitation, all claims arising out of or
related to the Executive’s Offer Letter and the Executive Agreement; all claims to any non-vested ownership interest in the Company, contractual or otherwise; and any claim or damage arising out of the Executive’s employment with and/or
separation from the Company (including a claim for retaliation) under any common law theory or any federal, state or local statute or ordinance not expressly referenced above. 
 (b) The only claims not being waived, released and discharged by this Paragraph 2 are those that are not waivable as a matter of applicable law; any claims the Executive may have for wrongful act or
omission occurring after the date the Executive signs this Agreement; any claims the Executive may have to government-sponsored and administered benefits such as unemployment insurance, state disability insurance and paid family leave insurance
benefits; and any benefits that vested on or prior to the Termination Date pursuant to a written benefit plan sponsored by the Company and governed by the federal law known as “ERISA.” 

(c) Nothing in this Agreement prevents the Executive from filing a charge with, cooperating with, or participating in any proceeding
before the Equal Employment Opportunity Commission or a state fair employment practices agency (except that he acknowledges that he may not recover any monetary benefits in connection with any such claim, charge or proceeding). 

3. Business Expenses and Compensation. The Executive acknowledges that he has been reimbursed by the Company for all business expenses
incurred in conjunction with the performance of his employment and that no other reimbursements are owed to him. The Executive further acknowledges that he has received payment in full for all services rendered in conjunction with his employment by
the Company and that no other compensation is owed to him except as provided in this Agreement. 
 4. Return of Company Property
The Company and the Executive agree that the Executive is entitled to keep his laptop computer, iPad and iPhone. The Executive represents and warrants that the laptop computer, iPad and iPhone have been cleansed of all Company proprietary
information. Except with respect to the foregoing, the Executive confirms that he has returned to the Company all keys, files, records (and copies thereof), equipment (including, but not limited to, computer hardware, software and printers, wireless
handheld devices, cellular phones, pagers, etc.), Company identification, Company vehicles and any other Company-owned property in his possession or control and has left intact all electronic Company documents, including but not limited to those
that the Executive developed or helped to develop during his employment. Other than with respect to computer accounts or professional subscriptions in the Company’s name for the Executive’s benefit, the Executive further confirms that he
has cancelled all other accounts for his benefit, if any, in the Company’s name, including but not limited to, credit cards, telephone charge cards, cellular phone and/or pager accounts. With respect to such

  
 - 5 -

 
computer accounts or professional subscriptions, if any, the Executive further agrees to work with the Company to make sure that such computer accounts or professional subscriptions are cancelled
as soon as practicable after the Termination Date. 
 5. Continuing Obligations. The Executive acknowledges and reaffirms his
obligations as set forth in the American Superconductor Corporation Employee Nondisclosure and Developments Agreement dated August 24, 2001. 
 6. Additional Post-Employment Obligations. In consideration of the Severance Benefits, the Executive agrees to abide by the following post-employment obligations: 

(a) Noncompetition. For the period commencing on Termination Date and ending on December 31, 2013 (the “Restricted
Period”), and subject to the limitations set forth in this Paragraph 6, the Executive agrees that he shall not, directly or indirectly, either individually or as an employee, agent, partner, shareholder, owner, trustee, beneficiary,
co-venturer, distributor, consultant or in any other capacity or through any affiliate, family member or otherwise, anywhere in the United States of America, China or Austria, participate in, provide assistance to, or have a financial or other
interest in any Competing Enterprise defined in Section (d) below. The ownership of less than a one percent (1%) interest in a Competing Enterprise whose shares are traded on a recognized stock exchange or traded on the over-the-counter
market shall not be deemed to constitute financial participation by the Executive in a Competing Enterprise. 
 (b)
Non-solicitation. (a) The Executive agrees that during the Restricted Period he will not: 
 (i) contact, solicit or
service any customers or prospective customer of the Company that were solicited or served on behalf of the Company during the Executives employment (hereafter “Active Customers”); 

(ii) directly or indirectly request or advise Active Customers or suppliers, vendors or other business contacts of the Company who
currently have, or have had, business relationships with the Company during the Executives employment, to withdraw, curtail or cancel any of their business or relations with the Company; 

(iii) directly or indirectly induce or attempt to induce any employee or contractor of the Company whom the Executive had contact during
his employment with the Company to terminate its, his or her relationship or breach its, his or her agreements with the Company. 
 (c) Nothing in this Agreement shall otherwise prohibit any future employer of the Executive from hiring employees or contractors of the Company without the Executive’s involvement, aid, assistance or
counsel. 
 (d) For purposes of this Paragraph 6, “Competing Enterprise” shall have the following meaning: any
enterprise, company or business unit of a large company, engaged in the design, development, manufacture, licensing or sale of power electronics for use in large scale products for reactive compensation, power quality, or utility scale wind turbines

  
 - 6 -

 
(generally at least 1,500 kw). Competing Enterprise shall also include, but not be limited to, any enterprise, organization or business unit of a large company involved in the design,
development, manufacture, licensing or sale of high temperature, utility scale superconductor-based products. For example, Competing Enterprise shall include, but not be limited to: S&C Electric and business units of General Electric, Siemens,
ABB Ltd and Schneider Electric which are engaged in the design, development, manufacture, licensing or sale of power electronics for use in large scale products for reactive compensation, power quality or utility scale wind turbines (generally at
least 1,500 kw). 
 (e) The Executive agrees that any breach of the terms of this Paragraph 6 would result in irreparable injury
and damage the Company for which the Company would have no adequate remedy at law. The Executive therefore also agrees that in the event of any such breach or any threat of breach, in addition to any other remedies available at law or in equity, the
Company shall be entitled to seek immediate injunctive relief, without having to post a bond or other security, and to recover all costs and expenses incurred by the Company, including reasonable attorneys’ fees and costs, in the event that the
Company prevails in connection with such action. The terms of this Paragraph 6 shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including but not limited to, the recovery of damages
from the Executive. The Executive further agrees that the covenants set forth in this Paragraph 6 are reasonable and valid, and the Executive waives all defenses to the strict enforcement thereof. 

7. Non-Disparagement. The Executive understands and agrees that, as a condition of the Severance Benefits described herein he shall not
make any false, disparaging or derogatory statements to any media outlet, industry group, financial institution or current or former employee, consultant, client or customer of the Company regarding the Company or any of its current or former
directors, officers, employees, agents or representatives or about the Company’s business affairs or financial condition. The Company agrees to instruct its Senior Management not to make any false, disparaging or derogatory statements about the
Executive to any media outlet, industry group, financial institution or current or former employee, consultant, client or customer of the Company. 
 8. Representations and Warranties. The Executive represents and warrants that while he was employed by the Company he complied with all of the Company’s policies and practices in effect
from time to time and that all of the actions taken by him on behalf of the Company or in furtherance of its business were in compliance with all applicable laws and regulations. The Executive further warrants and represents that he is not aware of
any conduct that could give rise to any liability of the Released Parties. 
 9. Continued Assistance. The Executive agrees that
during the time period he is receiving the Severance Benefits stated in this Agreement, he will provide all reasonable cooperation to the Company, including but not limited to, assisting the Company in transitioning his job duties, assisting the
Company in defending against and/or prosecuting any litigation or threatened litigation, and performing any other tasks as reasonably requested by the Company so long as such assistance does not exceed 20 hours per month and a total of 120 hours
during the time period he is receiving the Severance Benefits stated in this Agreement. For purposes of this provision, the 20 and 120 hour limits shall not 

  
 - 7 -

 
apply to assistance with litigation. In the event that the Executive’s assistance exceeds either the 20 or 120 hour limit, the Company agrees to reimburse compensate the Executive at $150
per hour for services rendered to the Company other than with respect to assistance with litigation. The Company agrees to reimburse the Executive for reasonable business expenses incurred in such cooperation and to be reasonable in its requests for
assistance. 
 10. Amendment. This Agreement shall be binding upon the parties and may not be modified in any manner, except by an
instrument in writing of concurrent or subsequent date signed by duly authorized representatives of the parties hereto. This Agreement is binding upon and shall inure to the benefit of the parties and their respective agents, assigns, heirs,
executors, successors and administrators. 
 11. Waiver of Rights. No delay or omission by the Company in exercising any right
under this Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar to or waiver of any right on any
other occasion. 
 12. Validity. Should any provision of this Agreement be declared or be determined by any court of competent
jurisdiction to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall be deemed not to be a part of this Agreement. 

13. Acknowledgments. The Executive acknowledges that he has been given at least forty-five (45) days to consider this Agreement,
including Attachments A and B, and that the Company advised him to consult with an attorney of his own choosing prior to signing this Agreement. The Executive agrees and acknowledges that he has requested certain changes to this
Agreement which the Company has made. The parties agree that these changes do not restart the forty-five (45) day consideration period. Executive understands that he may revoke the Agreement for a period of seven (7) days after he signs
this Agreement by notifying John W. Powell, Esq., Vice President and General Counsel, in writing, and the Agreement shall not be effective or enforceable until the expiration of this seven (7) day revocation period. Executive understands and
agrees that by entering into this Agreement, he is waiving any and all rights or claims he might have under the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act, and that he has received consideration
beyond that to which you were previously entitled. 
 14. Eligibility for Severance Program. Attached to this Agreement as
Attachment B is a description of (i) any class, unit or group of individuals covered by the program of enhanced severance benefits and any applicable time limits regarding such enhanced severance benefit program; and (ii) the job
title and ages of all individuals eligible or selected for such enhanced severance benefit program, and the ages of all individuals in the same job classification or organizational unit who are not eligible or who were not selected for such enhanced
severance benefit program. As the Executive was party to the Executive Agreement with the Company, he shall only receive benefits in accordance with this Agreement and not in accordance with the plan. 

  
 - 8 -

 15. Nature of Agreement. The Executive understands and agrees that this Agreement is a
severance agreement and does not constitute an admission of liability or wrongdoing on the part of the Company, or the Executive. 
 16.
Voluntary Assent. The Executive affirms that no other promises or agreements of any kind have been made to or with him by any person or entity whatsoever to cause him to sign this Agreement, and that he fully understands the meaning and
intent of this Agreement. The Executive states and represents that he has had an opportunity to fully discuss and review the terms of this Agreement with an attorney. The Executive further states and represents that he has carefully read this
Agreement, understands the contents herein, freely and voluntarily assents to all of the terms and conditions hereof, and signs his name of his own free act. 
 17. Applicable Law. This Agreement shall be interpreted and construed by the laws of the Commonwealth of Massachusetts, without regard to conflict of laws provisions. The Executive hereby
irrevocably submits to and acknowledges and recognizes the jurisdiction of the courts of the Commonwealth of Massachusetts, or if appropriate, a federal court located in Massachusetts (which courts, for purposes of this Agreement, are the only
courts of competent jurisdiction), over any suit, action or other proceeding arising out of, under or in connection with this Agreement or the subject matter thereof. 
 18. Entire Agreement. This Agreement contain and constitute the entire understanding and agreement between the parties hereto with respect to the Executive’s severance benefits and the
settlement of claims against the Company and cancel all previous oral and written negotiations, agreements, commitments and writings in connection therewith, including, without limitation, the Offer Letter and the Executive Agreement. Nothing in
this paragraph, however, shall modify, cancel or supersede the Executive’s obligations set forth in Paragraphs 5 and 6 above. 
 19.
Tax Consequences; Section 409A. The parties intend that the payments and benefits hereunder be exempt from or comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (together with Treasury
Regulations and other written guidance, “Section 409A”). The Company makes no representation or warranty and shall have no liability to the Executive or any other person as to the tax consequences of payments or benefits hereunder,
including liability that may arise if any provisions of this Agreement and the attachments hereto are determined to constitute deferred compensation subject to Section 409A but do not satisfy the conditions of such section. 

  
 - 9 -

 AMERICAN SUPERCONDUCTOR CORPORATION 

									
					
	By:	 	 /s/ Daniel P. McGahn
	 		 		 	 February 14, 2013

					
		 	Daniel P. McGahn	 		 		 	Date
		 	President and Chief Executive Officer	 		 		 	

  

					
	TIMOTHY D. POOR	 	  	 	 
			
	 /s/ Timothy D. Poor
	 		 	 February 14, 2013

		 		 	Date

 ATTACHMENT A 

PAYMENTS SUBJECT TO SECTION 409A 
 1. Subject to this Attachment A, any Severance Benefits that may be due under the Agreement to which this Attachment A is attached shall begin only upon the date of the Executive’s
“separation from service” (determined as set forth below) which occurs on or after the cessation of his employment. The following rules shall apply with respect to distribution of the Severance Benefits, if any, to be provided to the
Executive under the Agreement, as applicable: 
 (a) It is intended that each installment of the Severance Benefits under the
Agreement shall be treated as a “separate payment” for purposes of Section 409A. Neither the Company nor the Executive shall have the right to accelerate or defer the delivery of any such payments except to the extent specifically
permitted or required by Section 409A. 
 (b) If, as of the date of the Executive’s “separation from
service” from the Company, he is not a “specified employee” (within the meaning of Section 409A), then each installment of the Severance Benefits shall be made on the dates and terms set forth in the Agreement. 

(c) If, as of the date of the Executive’s “separation from service” from the Company, he is a “specified
employee” (within the meaning of Section 409A), then: 
 (i) Each installment of the Severance Benefits due under the
Agreement that, in accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the Executive’s separation from service occurs, be paid within the short-term deferral period (as defined under
Section 409A) shall be treated as a short-term deferral within the meaning of Treasury Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under Section 409A; and 

(ii) Each installment of the Severance Benefits due under the Agreement that is not described in this Attachment A, Section 1(c)(i)
and that would, absent this subsection, be paid within the six-month period following his “separation from service” from the Company shall not be paid until the date that is six months and one day after such separation from service (or, if
earlier, the Executive’s death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day following his separation from service
and any subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not apply to any installment of payments if and to the maximum
extent that that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating to separation pay upon an
involuntary separation from service). Any installments that qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of the Executive’s second taxable year following the
taxable year in which the separation from service occurs. 

 2. The determination of whether and when the Executive’s separation from service from the
Company has occurred shall be made and in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this Attachment A, Section 2, “Company” shall include
all persons with whom the Company would be considered a single employer under Section 414(b) and 414(c) of the Code. 
 3. The
Company makes no representation or warranty and shall have no liability to the Executive or to any other person if any of the provisions of the Agreement (including this Attachment) are determined to constitute deferred compensation subject to
Section 409A but that do not satisfy an exemption from, or the conditions of, that section. 

  
 2 

 ATTACHMENT B 

OLDER WORKERS BENEFIT PROTECTION ACT 
 NOTICE TO EMPLOYEES 
 Based on current and projected industry outlook, Company Management
needs to enhance liquidity and reduce operating costs. As a result, your employment with the Company is being terminated and you have been selected to receive an offer of enhanced severance benefits in exchange for signing a release and waiver of
claims. In selecting you for termination and eligibility for this enhanced severance program, the Company considered its needs, the position you held, your skill set and individual performance. In connection with the enhanced severance program, you
are being provided with information as to: (i) any class, unit or group of individuals terminated and covered by such program, any eligibility factors for such termination and, therefore, eligibility for such program, and any time limits
applicable to such program; and (ii) the job title and ages of all individuals terminated and, therefore, eligible or selected for the program, and the ages of all individuals in the same job classification or organizational unit who are not
terminated and, therefore, are not eligible or selected for the program. 
 The Company determined that all employees in the classes, units or
departments in the chart below would be eligible for the enhanced severance program. All persons who are being terminated in connection with this action have been selected for the program and their job titles and ages have been indicated in the
chart below. The job titles and ages of individuals who were not selected for the program are also indicated in the below chart. 
 Employees
who were selected and are age forty and over shall have forty-five (45) days to consider the Company’s enhanced severance offer and may revoke their agreement to participate in the enhanced severance program within seven (7) days of
their execution of such an agreement. Employees who were selected and are under age forty shall have at least seven (7) days to consider the Company’s enhanced severance offer and do not have a right of revocation. 

See Attached Chart 

  
 3 

 Wisconsin 

 

					
	 Class/Unit/Department
	 	 November 28, 2012
 Job Title and Ages of Employees Selected
	 	 Job Title and Ages of Employees Not Selected

			
	Manufacturing	 	Principal Design Assurance Engineer - 36	 	Senior Manufacturing Electronics Technician - 52
		 		 	Senior Industrial Electrician - 43
		 		 	Senior Manager Test Engineering - 57
		 		 	Senior Test Technician - 56, 42
		 		 	Manufacturing Electronics TechnicianII - 44, 53, 36
		 		 	Managing Director Quality - 44
		 		 	Senior Production Supervisor - 41
		 		 	Manager Logistics & Inventory - 50
		 		 	Senior Manufacturing Electronics Technician - 58
		 		 	Senior Purchasing Manager - 51
		 		 	Senior Master Scheduler - 36
			
	Projects	 	Product Development Project Management - 48	 	Product Development Project Manager - 48
		 		 	Project Manager - 44
		 		 	Senior Project Manager - 36
			
	Engineering	 	Senior Electronic Development Technician - 63	 	Senior Electronic Development Technician - 50
		 	Senior Technical Writer - 73	 	Senior Principal Mechanical Packaging Engineer - 60
		 	Mechanical Engineer - 38	 	Senior Principal Embedded Software Engineer - 48
		 	Senior Software Engineer - 54	 	Senior Principal Power Electronics Engineer - 41
		 	Electrical Engineer - 34	 	Principal Design Engineer - 48
		 	Senior Principal Power Electronics Engineer - 38	 	Senior Software Engineer - 64

  
 Page 1

 Wisconsin 

 

					
	 Class/Unit/Department
	 	 November 28, 2012
 Job Title and Ages of Employees Selected
	 	 Job Title and Ages of Employees Not Selected

		 	Principal Power Electronics Controls Engineer - 37	 	Electrical Applications Engineer - 50
		 	Senior Technical Fellow - 42	 	Senior Principal Research & Development
Engineer - 38
		 		 	Chief Engineer Engineer Advanced Technology - 53
		 		 	Embedded Software Engineer - 38
		 		 	Product Support Engineer - 43
		 		 	Lead Software Engineer - 40
		 		 	Electrical Designer - 60
		 		 	Director Engineering Support Systems - 57
		 		 	Electrical Engineer - 36
		 		 	Senior Principal Power Conversion Engineer - 58
		 		 	Mechanical Engineer - 31
		 		 	Senior Principal Embedded Software Engineer - 34
		 		 	Power Conversion Products Manager - 44
		 		 	Principal Power Electronics Controls Engineer - 48
		 		 	Senior Designer - 57
		 		 	Senior Principal Engineer - 36
		 		 	Lead Software Engineer - 44
		 		 	Product Manager - 45
		 		 	Senior Principal Power Electronics Engineer - 66
		 		 	Senior Principal Software Engineer - 62
		 		 	Test Engineer - 51
		 		 	Managing Director Software Engineering - 53
		 		 	Software Engineer - 26
		 		 	Senior Linux Software Engineer - 51
		 		 	Senior Consulting Engineer - 56, 64
		 		 	Senior Network Planning & Applications
Engineer - 29
		 		 	Principal Network Planning & Applications
Engineer - 37
		 		 	Managing Director Network Planning &
Applications - 45

  
 Page 2

 Wisconsin 

 

					
	 Class/Unit/Department
	 	 November 28, 2012
 Job Title and Ages of Employees Selected
	 	 Job Title and Ages of Employees Not Selected

	Sales & Marketing/ Investor Relations	 	Director Global Sales Operation - 58	 	Director Business Development Wind Power - 51
	 	Executive VP Windtec Solutions - 46	 	Inside Sales Engineer - 26
	 		 	Managing Director Product Line Manager Cables - 52
	 		 	Director Product Line Manager FACTS - 36
	 		 	Senior Manager North America Gridtec Sales - 42
			
	Finance & Accounting	 	Senior Accountant - 49	 	Cost Accounting Manager - 47
	 		 	Manager Revenue Administration - 44
			
	Administration	 		 	Executive Assistant - 44
			
	Information Technology	 	IT Service Delivery Analyst - 48	 	Product Solutions Manager - 41
	 	Senior Linux Database Engineer - 45	 	Business Solutions Manager - 53
			
	Human Resources	 		 	Global Human Resources Business Partner - 40
			
	Service	 	Inventory Coordinator - 56	 	Repair Technician - 55
		 	Field Service Dispatcher - 53	 	Field Service Supervisor - 58
		 		 	Field Service Engineer - 43, 26, 25, 43
		 		 	Senior Field Service Engineer - 46
		 		 	Electrical Service Technician - 47
		 		 	Director Field Service - 38

  
 Page 3EX-4.01

 Exhibit 4.01 
 This Note is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of the Depository named below or a nominee of the Depository. This Note is not
exchangeable for Notes registered in the name of a Person other than the Depository or its nominee except in the limited circumstances described herein and in the Indenture, and no transfer of this Note (other than a transfer of this Note as a whole
by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository) may be registered except in the limited circumstances described herein. 

Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (the
“Depository”), to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized
representative of the Depository (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
 CITIGROUP INC.

 3.375% Notes due March 1, 2023 

 

			
	REGISTERED	 	REGISTERED
		
		 	CUSIP: 172967 GL 9
		 	ISIN: US172967GL98
		 	Common Code: 08935858
		
	No. R-0001	 	$500,000,000

 CITIGROUP INC., a Delaware corporation (the “Company”, which term includes any successor Person
under the Indenture), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of $500,000,000 on March 1, 2023 and to pay interest thereon from and including February 20, 2013 or from the
most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually, on March 1 and September 1 of each year, commencing September 1, 2013 at the rate of 3.375% 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 will, as provided in the Indenture, be paid to the Person in whose name this Note is registered at the
close of business on the Record Date for such interest, which shall be the Business Day immediately preceding such Interest Payment Date. 

 Any such interest not so punctually paid or duly provided for will forthwith cease to be
payable to the holder on such Record Date and may either be paid to the Person in whose name this Note is registered at the close of business on a subsequent Record Date, such subsequent Record Date to be not less than five days prior to the date of
payment of such defaulted interest, notice whereof shall be given to holders of Notes of this series not less than 15 days prior to such subsequent Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements
of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Interest hereon will be calculated on the basis of a 360-day year comprised of twelve 30-day months. 

If either an Interest Payment Date or the Maturity of the Notes falls on a day that is not a Business Day, such Interest Payment Date or
Maturity will be the next succeeding Business Day. If a date for payment of interest or principal on the Notes falls on a day that is not a business day in the place of payment, such payment will be made on the next succeeding business day in such
place of payment as if made on the date the payment was due. No interest will accrue on any amounts payable for the period from and after the due date for payment of such principal or interest. 

For these purposes, “Business Day” means any day which is a day on which commercial banks settle payments and are open for
general business in The City of New York. 
 Payment of the principal of and interest on this Note will be made at the office or
agency of the Trustee maintained for that purpose in The City of New York. 
 Reference is hereby made to the further provisions
of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee or by an authenticating agent on behalf of the Trustee by manual signature, this Note shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose. 

  
 2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated: February 20, 2013 

 

			
	CITIGROUP INC.
		
	By:	 	  

	Title:	 	Deputy Treasurer

  

			
	ATTEST:
		
	By:	 	  

	Title:	 	Assistant Secretary

  
 3 

 This is one of the Notes of the series issued under the within-mentioned Indenture.

 Dated: February 20, 2013 
  

					
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Name:
		 	Title:
	
	-or-
	
	CITIBANK, N.A.,
	as Authenticating Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 4 

 This Note is one of a duly authorized issue of Securities of the Company (the
“Notes”), issued and to be issued in one or more series under the Indenture, dated as of March 15, 1987 (as amended and supplemented to date, the “Indenture”), between the Company and The Bank of New York Mellon, formerly
known as The Bank of New York, as Trustee (the “Trustee”, which term includes any successor trustee under the Indenture), 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, initially limited in aggregate principal to $1,500,000,000. 
 If an event of default (as defined in the
Indenture) with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note upon compliance by the Company with
certain conditions set forth in Sections 11.03 and 11.04 thereof, which provisions apply to this Note. 
 The Indenture contains
provisions permitting the Company and the Trustee, without the consent of the holders of the Securities, to establish, among other things, the form and terms of any series of Securities issuable thereunder by one or more supplemental indentures,
and, with the consent of the holders of not less than 66 2/3% in aggregate principal amount of Securities at the time outstanding which are affected thereby, to modify the Indenture or any supplemental indenture or the rights of the holders of
Securities of such series to be affected, provided that no such modification will (i) extend the fixed maturity of any Securities, reduce the rate or extend the time of payment of interest thereon, reduce the principal amount thereof or the
premium, if any, thereon, reduce the amount of the principal of Original Issue Discount Securities payable on any date, change the currency in which Securities are payable, or impair the right to institute suit for the enforcement of any such
payment on or after the maturity thereof, without the consent of the holder of each Security so affected, or (ii) reduce the aforesaid percentage of Securities of any series the consent of the holders of which is required for any such
modification without the consent of the holders of all Securities of such series then outstanding, or (iii) modify, without the written consent of the Trustee, the rights, duties or immunities of the Trustee. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 
 This Note is a Global Security registered in the name of a nominee of the Depository. This Note is exchangeable for Notes registered in the name of a person other than the Depository or its nominee only
in the limited circumstances hereinafter described. Unless and until it is exchanged in whole or in part for definitive Notes in certificated form, this Note may not be transferred except as a whole by the Depository to a nominee of the Depository
or by a nominee of the Depository to the Depository or another nominee of the Depository. 

  
 R-1

 The Notes represented by this Global Security are exchangeable for definitive Notes in
certificated form of like tenor as such Notes in denominations of $1,000 and whole multiples of $1,000 in excess thereof only if (i) the Depository notifies the Company that it is unwilling or unable to continue as Depository for the Notes or
(ii) the Depository ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, or (iii) the Company in its sole discretion decides to allow the Notes to be exchanged for definitive Notes in registered
form. Any Notes that are exchangeable pursuant to the preceding sentence are exchangeable for certificated Notes issuable in authorized denominations and registered in such names as the Depository shall direct. As provided in the Indenture and
subject to certain limitations therein set forth, the transfer of definitive Notes in certificated form is registrable in the register maintained by the Company in The City of New York for such purpose, upon surrender of the definitive Note for
registration of transfer at the office or agency of the registrar, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the registrar duly executed by, the holder thereof or his attorney duly
authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. Subject to the
foregoing, this Note is not exchangeable, except for a Global Security or Global Securities of this issue of the same principal amount to be registered in the name of the Depository or its nominee. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither
the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 The Company will pay additional
amounts (“Additional Amounts”) to the beneficial owner of any Note that is a non-United States person in order to ensure that every net payment on such Note will not be less, due to payment of U.S. withholding tax, than the amount then due
and payable. For this purpose, a “net payment” on a Note means a payment by the Company or a paying agent, including payment of principal and interest, after deduction for any present or future tax, assessment or other governmental charge
of the United States. These Additional Amounts will constitute additional interest on the Note. 

  
 R-2

 The Company will not be required to pay Additional Amounts, however, in any of the
circumstances described in items (1) through (13) below. 
  

	 	(1)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld
solely by reason of the beneficial owner: 

  

	 	(a)	having a relationship with the United States as a citizen, resident or otherwise; 

 

	 	(b)	having had such a relationship in the past or 

  

	 	(c)	being considered as having had such a relationship. 

  

	 	(2)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld
solely by reason of the beneficial owner: 

  

	 	(a)	being treated as present in or engaged in a trade or business in the United States; 

 

	 	(b)	being treated as having been present in or engaged in a trade or business in the United States in the past or 

 

	 	(c)	having or having had a permanent establishment in the United States. 

  

	 	(3)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld in
whole or in part by reason of the beneficial owner being or having been any of the following (as such terms are defined in the Internal Revenue Code of 1986, as amended): 

 

	 	(a)	personal holding company; 

  

	 	(b)	foreign personal holding company; 

  

	 	(c)	foreign private foundation or other foreign tax-exempt organization; 

  

	 	(d)	passive foreign investment company; 

  

	 	(e)	controlled foreign corporation or 

  

	 	(f)	corporation which has accumulated earnings to avoid United States federal income tax. 

 

	 	(4)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld
solely by reason of the beneficial owner owning or having owned, actually or constructively, 10 percent or more of the total combined voting power of all classes of stock of the Company entitled to vote or by reason of the beneficial owner being a
bank that has invested in a Note as an extension of credit in the ordinary course of its trade or business. 

 For purposes of
items (1) through (4) above, “beneficial owner” means a fiduciary, settlor, beneficiary, member or shareholder of the holder if the holder is an estate, trust, partnership, limited liability company, corporation or other entity,
or a person holding a power over an estate or trust administered by a fiduciary holder. 

  
 R-3

	 	(5)	Additional Amounts will not be payable to any beneficial owner of a Note that is a: 

 

	 	(a)	fiduciary; 

  

	 	(b)	partnership; 

  

	 	(c)	limited liability company or 

  

	 	(d)	other fiscally transparent entity 

or that is not the sole beneficial owner of the Note, or any portion of the Note. However, this exception to the obligation to pay
Additional Amounts will only apply to the extent that a beneficiary or settlor in relation to the fiduciary, or a beneficial owner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been
entitled to the payment of an Additional Amount had the beneficiary, settlor, beneficial owner or member received directly its beneficial or distributive share of the payment. 

 

	 	(6)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld
solely by reason of the failure of the beneficial owner or any other person to comply with applicable certification, identification, documentation or other information reporting requirements. This exception to the obligation to pay Additional
Amounts will only apply if compliance with such reporting requirements is required by statute or regulation of the United States or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from such
tax, assessment or other governmental charge. 

  

	 	(7)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is collected or imposed by
any method other than by withholding from a payment on a Note by the Company or a paying agent. 

  

	 	(8)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld by
reason of a change in law, regulation, or administrative or judicial interpretation that becomes effective more than 15 days after the payment becomes due or is duly provided for, whichever occurs later. 

 

	 	(9)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld by
reason of the presentation by the beneficial owner of a Note for payment more than 30 days after the date on which such payment becomes due or is duly provided for, whichever occurs later. 

 

	 	(10)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any: 

 

	 	(a)	estate tax; 

  
 R-4

	 	(b)	inheritance tax; 

  

	 	(c)	gift tax; 

  

	 	(d)	sales tax; 

  

	 	(e)	excise tax; 

  

	 	(f)	transfer tax; 

  

	 	(g)	wealth tax; 

  

	 	(h)	personal property tax or 

  

	 	(i)	any similar tax, assessment, withholding, deduction or other governmental charge. 

 

	 	(11)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment, or other governmental charge required to be withheld by any
paying agent from a payment of principal or interest on a Note if such payment can be made without such withholding by any other paying agent. 

  

	 	(12)	Additional amounts will not be payable if a payment on a Note is reduced as a result of any tax, assessment or other governmental charge that is required to be made
pursuant to any European Union directive on the taxation of savings income or any law implementing or complying with, or introduced to conform to, any such directive. 

 

	 	(13)	Additional amounts will not be payable if a payment on a Note is reduced as a result of any withholding, deduction, tax, duty assessment or other governmental charge
that would not have been imposed but for a failure by the holder or beneficial owner of a Note (or any financial institution through which the holder or beneficial owner holds the Note or through which payment on the Note is made) to take any action
(including entering into an agreement with the Internal Revenue Service, or a governmental authority of another jurisdiction if the holder is entitled to the benefits of an intergovernmental agreement between that jurisdiction and the United States)
or to comply with any applicable certification, documentation, information or other reporting requirement or agreement concerning accounts maintained by the holder or beneficial owner (or any such financial institution), or concerning ownership of
the holder or beneficial owner, or any substantially similar requirement or agreement. 

  

	 	(14)	Additional Amounts will not be payable if a payment on a Note is reduced as a result of any combination of items (1) through (12) above.

 Except as specifically provided herein, the Company will not be required to make any payment of any tax,
assessment or other governmental charge imposed by any government or a political subdivision or taxing authority of such government. 

  
 R-5

 As used in this Note, “United States person” means: 

 

	 	(a)	any individual who is a citizen or resident of the United States; 

  

	 	(b)	any corporation, partnership or other entity created or organized in or under the laws of the United States; 

 

	 	(c)	any estate if the income of such estate falls within the federal income tax jurisdiction of the United States regardless of the source of such income and

  

	 	(d)	any trust if a United States court is able to exercise primary supervision over its administration and one or more United States persons have the authority to control
all of the substantial decisions of the trust. 

 Additionally, “non-United States person” means a
person who is not a United States person, and “United States” means the states of the United States of America and the District of Columbia, but excluding its territories and its possessions. 

Except as provided below, the Notes may not be redeemed prior to maturity. 

 

	 	(1)	The Company may, at its option, redeem the Notes if: 

  

	 	(a)	the Company becomes or will become obligated to pay Additional Amounts as described above; 

 

	 	(b)	the obligation to pay Additional Amounts arises as a result of any change in the laws, regulations or rulings of the United States, or an official position regarding
the application or interpretation of such laws, regulations or rulings, which change is announced or becomes effective on or after January 3, 2013 and 

 

	 	(c)	the Company determines, in its business judgment, that the obligation to pay such Additional Amounts cannot be avoided by the use of reasonable measures available to
it, other than substituting the obligor under the Notes or taking any action that would entail a material cost to the Company. 

  

	 	(2)	The Company may also redeem the Notes, at its option, if: 

  

	 	(a)	any act is taken by a taxing authority of the United States on or after January 3, 2013, whether or not such act is taken in relation to the Company or any
affiliate, that results in a substantial probability that the Company will or may be required to pay Additional Amounts as described above; 

  

	 	(b)	the Company determines, in its business judgment, that the obligation to pay such Additional Amounts cannot be avoided by the use of reasonable measures available to
it, other than substituting the obligor under the Notes or taking any action that would entail a material cost to the Company and 

  

	 	(c)	the Company receives an opinion of independent counsel to the effect that an act taken by a taxing authority of the United States results in a substantial probability
that the Company will or may be required to pay the Additional Amounts described under above, and delivers to the Trustee a certificate, signed by a duly authorized officer, stating that based on such opinion the Company is entitled to redeem the
Notes pursuant to their terms. 

  
 R-6

 Any redemption of the Notes as set forth in clauses (1) or (2) above shall be in whole, and not in
part, and will be made at a redemption price equal to 100% of the principal amount of the Notes Outstanding plus accrued interest thereon to the date of redemption. Holders shall be given not less than 30 days nor more than 60 days prior notice by
the Trustee of the date fixed for such redemption. 
 All terms used in this Note which are defined in the Indenture shall have
the meanings assigned to them in the Indenture. The Notes are governed by the laws of the State of New York. 

  
 R-7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}]]