Document:

EX-4.1

 Exhibit 4.1 

WHIRLPOOL CORPORATION 

CERTIFICATE OF DESIGNATED OFFICERS 

April 29, 2021 
 Pursuant to
Sections 2.1, 2.3 and 11.5 of the Indenture, dated as of March 20, 2000 (the “Indenture”), between Whirlpool Corporation (the “Company”) and U.S. Bank National Association (as successor to Citibank, N.A.), as
Trustee (the “Trustee”), and pursuant to resolutions adopted by the Board of Directors of the Company on April 21, 2015 and April 16, 2018 (the “Company Resolutions”), the undersigned officers of
the Company do hereby certify that there is hereby approved and established pursuant to the Indenture, $300,000,000 aggregate amount of the Company’s 2.400% Senior Notes due 2031 (the “Securities”) and under the Indenture whose
terms shall be as set forth in Annex A, attached hereto. 
 The undersigned officers (i) have read the applicable provisions of the
Indenture, (ii) have reviewed the form and terms of the Securities, (iii) in the opinion of the undersigned, have made such examination or investigation as is necessary to enable the undersigned to express an informed opinion as to whether
or not the applicable conditions precedent under the Indenture have been complied with, (iv) hereby certify that the applicable conditions precedent under the Indenture have been complied with and (v) hereby certify that the form and terms
of the Securities comply with the Indenture. 
 Capitalized terms used but not defined herein have the meanings ascribed thereto in the
Indenture. 
 [Signature Page Follows.] 

 IN WITNESS WHEREOF, each of the undersigned has signed this certificate. 

Dated: April 29, 2021 
  

			
	By:	 	 /s/ Christopher S. Conley

	Name:	 	Christopher S. Conley
	Title:	 	Vice President and Corporate Controller
		
	By:	 	 /s/ Jennifer L. Powers

	Name:	 	Jennifer L. Powers
	Title:	 	Vice President and Treasurer

 Certificate of Designated Officers 

 ANNEX A 

2.400% Senior Notes due 2031 

1.    The title of the Securities shall be the “2.400% Senior Notes due 2031” (the
“Notes”). 
 2.    The aggregate principal amount of the Notes which may be
authenticated and delivered under the Indenture is initially limited to $300,000,000 (except for such Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes pursuant to
Section 2.8, 2.9, 2.11 or 12.3 of the Indenture). Additional Notes ranking equally with the Notes in all respects (or in all respects other than the payment of interest accruing prior to the issue date of such further Notes or except for the
first payment of interest following the issue date of such further Notes) may be authenticated and delivered under the Indenture from time to time, without notice to or the consent of the registered Holders of the Notes, provided that if such
further Notes are not fully fungible with the Notes for U.S. federal income tax purposes, the Company will cause such further Notes to be issued under a CUSIP number that is different from the CUSIP number printed on the Notes. Such further Notes
may be consolidated and form a single series with the Notes and have the same terms as to status, redemption or otherwise as the Notes. 

3.    The Notes shall be offered at an offering price equal to 99.822% of their principal amount, plus
accrued interest, if any, from April 29, 2021 to the date of delivery, and in payment for which the Company shall receive 99.372% of their principal amount, plus accrued interest, if any, from April 29, 2021 to the date of delivery, after
a discount to the underwriters of the Notes of 0.450% of their principal amount. 
 4.    The stated
maturity of the principal of the Notes shall be May 15, 2031. 
 5.    The Notes will bear interest
at a fixed rate of 2.400% per annum. 
 Interest on the Notes will accrue from April 29, 2021, or from the most recent interest payment
date to which interest has been paid or provided for, but excluding the relevant interest payment date. The Company will make interest payments on the Notes semiannually in arrears on May 15 and November 15 of each year,
beginning on November 15, 2021, to the person in whose name such Notes are registered at the close of business on the immediately preceding May 1 or November 1, as applicable. Interest on the Notes will be computed on the basis of a 360-day year of twelve 30-day months. 
 If an interest payment
date for the Notes falls on a day that is not a Business Day, the interest payment shall be postponed to the next succeeding Business Day, and no interest on such payment shall accrue for the period from and after such interest payment date. 

6.    The Notes will be redeemable at the option of the Company on the terms described in the body of the
Note. Other than with respect to a Change of Control Repurchase Event (as defined in the body of the Note), the Notes will not be repayable at the option of the Holders prior to its stated maturity date. The Notes will not be subject to any sinking
fund. 

 7.    The Notes will be issued in registered, book-entry
form only without interest coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

8.    The Notes shall be in such form or forms as may be approved by the authorized officers of the Company
as provided in the Company Resolutions, such approval to be evidenced by the authorized officers’ manual or facsimile signature on the Notes, provided that such form or forms of the Notes are not inconsistent with the requirements of the
Indenture or the Company Resolutions and are substantially in the form or forms attached hereto as Exhibit A-1. 

9.    The Notes shall be issued in the form of one or more Global Securities registered in the name of The
Depository Trust Company or its nominee, to be deposited with, or on behalf of, The Depository Trust Company, New York, New York. 

10.    Payments of principal of, interest on, and any other amounts payable with respect to the Notes are
to be denominated in Dollars. 
 11.    The Notes are not issuable in Tranches. 

12.    The Notes are not convertible into Securities of any other Series. 

13.    Both Section 10.1(B)(ii) and Section 10.1(B)(iii) of the Indenture apply to the Notes.

 14.    The words “execution,” “signed,” “signature,”
“delivery,” and words of like import in or relating to this certificate or any document to be signed in connection with this certificate, including by the Trustee, shall be deemed to include electronic signatures, deliveries or the keeping
of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paperbased recordkeeping system, as the case may be, and the
parties hereto consent to conduct the transactions contemplated hereunder by electronic means. For the avoidance of doubt, this certificate shall be deemed to amend the (1) first paragraph of Section 2.5 of the Indenture (i) to permit
electronic signatures of the Securities by the officers specified therein and (ii) to remove the requirement that the corporate seal be affixed to the signature page of the Securities, and (2) to amend the first paragraph of
Section 2.6 of the Indenture to permit a certificate of authentication by the Trustee to be executed by manual, electronic or facsimile signature and that any Note executed, authenticated and delivered in such manner shall be valid and
obligatory for all purposes under the Indenture and entitled to the benefits thereunder. 

 EXHIBIT A 

[FORM OF FACE OF NOTE] 
 THIS
NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS
NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

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

2.400% Senior Notes due 2031 (the “Notes”) 

No. 1     

			
	CUSIP NO. 963320AY2	  	$300,000,000

 WHIRLPOOL CORPORATION, a Delaware corporation (the “Company”), which term includes any
successor under the Indenture hereinafter referred to on the reverse hereof, for value received, promises to pay to CEDE & CO., or its registered assigns, the principal sum of THREE HUNDRED MILLION DOLLARS ($300,000,000) or such other
amount as indicated on the Schedule of Increases or Decreases in Global Note attached hereto, on May 15, 2031. 
 Interest Rate: 2.400%
per annum 
 Interest Payment Dates: May 15 and November 15 of each year, commencing November 15, 2021 

Record Dates: May 1 and November 1, as applicable, of each year 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same
effect as if set forth at this place. 
 [Signature Page Follows] 

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

 

			
	WHIRLPOOL CORPORATION
		
	By:	 	
                    

	Name:	 	Christopher S. Conley
	Title:	 	Vice President and Corporate Controller
		
	By:	 	  

	Name:	 	Jennifer L. Powers
	Title:	 	Vice President and Treasurer

 Dated: April 29, 2021 

 This is one of the Securities of the Series designated herein referred to in the
within-mentioned Indenture. 
  

							
	Dated: April 29, 2021	 		 	 U.S. Bank National Association (as

successor to Citibank, N.A.), as Trustee

				
		 		 	By:	 	
                    

		 		 	Name:	 	
		 		 	Title:	 	

 [FORM OF REVERSE OF NOTE] 

Whirlpool Corporation 

2.400% Senior Notes due 2031 

Interest 
 The Company
promises to pay interest on the principal amount of this Note at the rate per annum set forth above. Interest on the Notes will accrue from April 29, 2021 or from the most recent date to which interest has been paid or provided for, but
excluding the relevant interest payment date. If an interest payment date falls on a day that is not a Business Day, the interest payment date shall be postponed to the next succeeding Business Day, and no interest on such payment shall accrue for
the period from and after such interest payment date. 
 The Company will pay interest semi-annually in arrears on May 15 and November 15 of
each year, commencing November 15, 2021, to the person in whose name this Note is registered at the close of business on the immediately preceding May 1 and November 1, respectively. Interest will be computed on the basis of a 360-day year comprised
of twelve 30-day months. 
 Optional Redemption of Notes 

The Company may, at its option, redeem the Notes in whole or from time to time in part prior to February 15, 2031 (the “Par Call
Date”) at a redemption price equal to the greater of: (1) 100% of the principal amount of the Notes being redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being
redeemed that would be due if the Notes being redeemed matured on the Par Call Date (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the redemption date (the “Redemption
Date”) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (as defined below) plus 15 basis points
plus, in each case, accrued and unpaid interest to, but excluding, the Redemption Date. 
 On or after the Par Call Date, the Company may
redeem the Notes at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. 

Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates falling on or prior to
a Redemption Date will be payable on the interest payment date to the registered Holders as of the close of business on the relevant record date according to terms hereof and the Indenture. 

The Company will mail, or otherwise provide, notice of any redemption at least 10 days but not more than 60 days before the Redemption Date to
each Holder of the Notes to be redeemed. Once notice of redemption is mailed or otherwise given, the Notes called for redemption will become due and payable on the Redemption Date and at the applicable redemption price, plus accrued and unpaid
interest to, but excluding, the Redemption Date. 

 “Adjusted Treasury Rate” means, with respect to any Redemption Date, the
rate per year equal to the semi-annual equivalent yield to maturity of the 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
that Redemption Date. 
 “Comparable Treasury Issue” means the United States Treasury security selected by the Quotation
Agent as having a maturity comparable to the remaining term of the Notes to be redeemed (assuming, for this purpose, that the Notes matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of those Notes (assuming, for this purpose, that the Notes matured on the Par Call Date). 

“Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer
Quotations for that Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than four Reference Treasury Dealer Quotations, the average of all Reference Treasury
Dealer Quotations so received. 
 “Quotation Agent” means the Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means any one of the four primary U.S. Government securities dealers in the United States of
America selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation
Agent by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding that Redemption Date. 
 On
and after the redemption date, interest will cease to accrue on the Notes or any portion of the Notes called for redemption (unless the Company defaults in the payment of the redemption price and accrued interest). On or before the redemption date,
the Company will deposit with a paying agent or the Trustee money sufficient to pay the redemption price of and accrued interest on the Notes to be redeemed on that date. If less than all of the Notes are to be redeemed, the Notes to be redeemed
shall be selected by the Trustee by a method the Trustee deems to be fair and appropriate. 
 Repurchase Upon Change of Control
Repurchase Event 
 If a Change of Control Repurchase Event (as defined below) occurs, unless the Company has exercised its right to
redeem the Notes as set forth above under “Optional Redemption of Notes,” the Company will make an offer (the “Change of Control Offer”) to each Holder to repurchase all or any part (in integral multiples of $1,000)
of that Holder’s Notes at a repurchase price 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, but excluding, the date of repurchase (the
“Change of Control Payment”). Within 30 days following any Change of Control Repurchase Event, or, at the Company’s option, prior to any Change of Control (as defined below), but after

 
the public announcement of the Change of Control, the Company shall mail a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may
constitute the Change of Control Repurchase Event and offering to repurchase Notes on the date specified in the notice, which date will be no earlier than 30 days and 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 offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment
date specified in the notice. 
 The Company will comply with the requirements of Rule 14e-1 under
the Securities Exchange Act of 1934, as amended (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 Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes, the Company will comply with the applicable
securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Notes by virtue of such conflicts. 

On the Change of Control Payment Date, the Company shall, to the extent lawful: 

(a)    accept for payment all Notes or portions of Notes properly tendered pursuant to the Company’s Change of
Control Offer; 
 (b)    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; and 
 (c)    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 portion of Notes being purchased by the Company. 

The Paying Agent will promptly mail to each Holder of properly tendered Notes the purchase price for the Notes, and the Trustee will promptly
authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Security equal in principal amount to any unpurchased portion of any Notes surrendered; provided, that each new Security will be in a principal amount of $2,000 or
an integral multiple of $1,000 above that amount. 
 The Company will not be required to make an offer to repurchase the Notes upon a Change
of Control Repurchase 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. 
 “Below Investment Grade Rating Event” means the rating on the Notes are lowered and the Notes
are rated below an Investment Grade Rating by any two of the three Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the
60-day period following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under
publicly announced consideration for possible downgrade below investment grade by any of the Rating Agencies); provided that a Below Investment Grade Rating Event otherwise arising by 

 
virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event
for purposes of the definition of Change of Control Repurchase Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at the
Company’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control
shall have occurred at the time of the Below Investment Grade Rating Event). 
 “Change of Control” means the occurrence of
any of the following: 
  

	•	 	 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; 

  

	•	 	 the consummation of any transaction (including, without limitation, any merger or consolidation) the result of
which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the “beneficial owner,” (as that term is defined in Rules 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; or 

 

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

 Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if
(i) the Company becomes a wholly owned subsidiary of a holding company that has agreed to be bound by the terms of the Notes and (ii) the holders of the voting stock of such holding company immediately following that transaction are
substantially the same as the holders of the Company’s voting stock immediately prior to that transaction. 
 “Change of
Control Repurchase 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, members of the Board of Directors of the Company who
(i) were members of such Board of Directors on the date of the issuance of the Notes; or (ii) were nominated for election or elected to such Board of Directors with the approval of a majority of the continuing directors under clause
(i) or (ii) of this definition who were members of such Board of Directors at the time of such nomination or election (either by a 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). 
 “Fitch” means Fitch Ratings, Inc. 

“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 Fitch and the equivalent investment grade credit rating from any replacement rating agency or rating agencies selected by the Company. 

 “Moody’s” means Moody’s Investors Service, Inc. 

“Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and (2) if Fitch, 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 resolution of the Company’s Board of Directors) as a replacement agency for Fitch, Moody’s or S&P, or any of them, as the case may be. 

“S&P” means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 

“Subsidiary” means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by
the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock which ordinarily has voting power for the election of directors,
whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
 Paying Agent

 Initially, U.S. Bank National Association (as successor to Citibank, N.A.) (the “Trustee”) will act as paying agent. The
Company may change any paying agent without notice to the Holders. 
 Indenture; Defined Terms 

This Note is one of the 2.400% Senior Notes due 2031 issued under an Indenture, dated as of March 20, 2000, between the Company and the
Trustee (as originally executed and delivered or, if amended or supplemented as therein provided, as so amended or supplemented or both, and including the forms and terms of particular Series of Securities established as contemplated thereunder, the
“Indenture”). 
 Unless otherwise defined herein, capitalized terms herein are used as defined in the Indenture. The terms
of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S.C. Sections 77aaa-77bbbb) (the “Trust Indenture Act”), as in effect on the
date of the Indenture until such time as the Indenture is qualified under the Trust Indenture Act, and thereafter as in effect on the date on which the Indenture is qualified under the Trust Indenture Act. Notwithstanding anything to the contrary
herein, the Notes are subject to all such terms, and Holders of Notes are referred to the Indenture and the Trust Indenture Act for a statement of them. To the extent the terms of the Indenture and this Note are inconsistent, the terms of the
Indenture shall govern. 
 Denominations; Transfer; Exchange 

The Notes are in registered form, without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder
shall register the transfer or exchange of Notes in accordance with the Indenture. 

 Amendment; Supplement; Waiver 

Subject to certain exceptions, the Notes and the provisions of the Indenture relating to the Notes may be amended or supplemented and any
existing default or Event of Default or compliance with certain provisions may be waived with the written consent of the Holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of each Series
(including the Notes) under the Indenture that are affected by such amendment, supplement or waiver (voting as one class). Without notice to or consent of any Holder, the parties thereto may amend or supplement the Indenture and the Notes to, among
other things, cure any ambiguity, defect or inconsistency or comply with any requirements of the Commission in connection with the qualification of the Indenture under the TIA, or make any other change that does not materially and adversely affect
the rights of any Holder of a Note. 
 Defaults and Remedies 

If an Event of Default under the Indenture occurs with respect to the Notes and shall not have been remedied or waived, unless the principal of
all the Notes shall have already become due and payable, then either the Trustee or the Holders of not less than 25% in aggregate principal amount at maturity of the Notes then Outstanding, by written notice to the Company (and to the Trustee if
given by such Holders), may declare the principal of all the Notes then Outstanding to be due and payable immediately, together with all accrued and unpaid interest thereon. Holders of Notes may not enforce the Indenture or the Notes except as
provided in the Indenture. The Trustee is not obligated to enforce the Indenture or the Notes unless it has received indemnity as it reasonably requires. The Indenture permits, subject to certain limitations therein provided, Holders of not less
than a majority in aggregate principal amount of the Notes then Outstanding to direct the Trustee in its exercise of any trust or power conferred on the Trustee with respect to the Notes by the Indenture. The Trustee may withhold from Holders of
Notes notice of certain continuing defaults or Events of Default if it determines in good faith that withholding notice is in their interest. 

Authentication 
 This Note
shall not be valid until the Trustee manually signs the certificate of authentication on this Note. 
 Abbreviations and Defined
Terms 
 Customary abbreviations may be used in the name of a Holder of a Note or an assignee, such as: TEN COM (= tenants in common),
TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

CUSIP Numbers 
 Pursuant
to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes as a convenience to the Holders of the Notes. No representation is made as to the
accuracy of such numbers as printed on the Notes and reliance may be placed only on the other identification numbers printed hereon. 

 Further Issuances 

The Company may create and issue additional notes pursuant to the Indenture, provided that if such additional notes are not fully
fungible with the Notes for U.S. federal income tax purposes, the Company will cause such additional notes to be issued under a CUSIP number that is different from the CUSIP number printed on the Notes. 

Governing Law 
 The laws
of the State of New York shall govern the Indenture and this Note. 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

I or we assign and transfer this Note to: 
  

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

  

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

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

 

					
	Date:                                     
                                         
   	 	        	  	Your
Signature:                                       
                                         
                     
	
	Signature
Guarantee:                                       
                                         
                                         
                                         
                                         
                      

 (Signature must be guaranteed) 
  

 
 Sign exactly as your name appears on the other
side of this Note. 
 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and
credit unions with membership in an approved signature guarantee medallion program), pursuant to SEC Rule 17Ad-15. 
  

			
		  	  
 Signature

		
	Signature Guarantee:	  	

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations
and credit unions with membership in an approved signature guarantee medallion program), pursuant to SEC Rule 17Ad-15. 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

The following increases or decreases in this Global Note have been made: 

 

																	
	 Date
	  	Amount of decrease in
Principal Amount of
this Global Note	 	  	Amount of increase in
Principal Amount of
this Global Note	 	  	Principal Amount of
this Global Note
following such
decrease or increase	 	  	Signature of
authorized signatory
of Trustee or Notes
CustodianDocument

Exhibit 10.1

NETSTREIT CORP.
2019 Omnibus Incentive Compensation Plan
2021 PERFORMANCE STOCK UNIT AGREEMENT
THIS PERFORMANCE STOCK UNIT AGREEMENT (this “Agreement”) is made effective as of ______________ (the “Grant Date”) by and between NetSTREIT Corp., a Maryland corporation (the “Company”), and ___________ (the “Participant”), pursuant to the NetSTREIT Corp. 2019 Omnibus Incentive Compensation Plan, as in effect and as amended from time to time (the “Plan”). Capitalized terms that are not defined herein shall have the meanings given to such terms in the Plan.
WHEREAS, the Company has adopted the Plan in order to grant Awards from time to time to certain key Employees (including prospective Employees), Directors and Consultants of the Company and its Subsidiaries or Affiliates; and
WHEREAS, the Participant is an Eligible Recipient as contemplated by the Plan, and the Administrator has determined that it is in the interest of the Company to grant to the Participant an Award of performance-based restricted stock units (“Performance Stock Units”) pursuant to Section 10 of the Plan.
NOW, THEREFORE, in consideration of the premises and subject to the terms and conditions set forth herein and in the Plan, the parties hereto agree as follows:
1.Grant of Performance Stock Units.  As of the Grant Date, the Participant will be credited with a target number of _____ Performance Stock Units (the “Target PSUs”). Each Performance Stock Unit is a notional amount that represents the right to receive one Share, subject to the terms and conditions of the Plan and this Agreement, if and when the Performance Stock Unit vests.
2.Vesting of Performance Stock Units. Subject to the Participant’s continuous service with the Company or a Subsidiary or Affiliate thereof, as applicable, whether as an Employee, Director, or Consultant (“Service”), from the Grant Date through the end of the Performance Period, the number of Performance Stock Units actually earned, if any, will be based on the Company’s Absolute TSR and Relative TSR performance over the Performance Period, as set forth in the grid below.  The number of Performance Stock Units actually earned, if any, based on such performance (the “Earned PSUs”) may range from 50% of the Target PSUs for performance at “Threshold,” to 100% of the Target PSUs for performance at “Target,” to up to 200% of the Target PSUs for performance at “Maximum.” Notwithstanding the foregoing, all or a portion of the Performance Stock Units may also be eligible to vest under the circumstances described in Section 5(c) or 5(d) below.

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	Performance Goals	Weighting
(# of Target PSUs)
	Performance Range
	Threshold (50% of Target PSUs Earned)	Target (100% of Target PSUs Earned)	Maximum (200% of Target PSUs Earned)
	Absolute TSR				
	Relative TSR				

In the event that the Company’s actual performance with respect to a Performance Goal is between Threshold and Target or between Target and Maximum, the number of Performance Stock Units earned based on such Performance Goal shall be determined based on linear interpolation. If the Company’s actual performance with respect to a Performance Goal is below Threshold, no Performance Stock Units shall be earned for such Performance Goal. If the Company’s actual performance with respect to a Performance Goal is above Maximum, 200% of the Target PSUs shall be earned.
3.Certain Definitions: 
i.“Absolute TSR” means the Company’s TSR during the Performance Period.
ii.“Beginning Stock Price” means the average closing price of a Share or a share of the common stock of a member of the Peer Group, as applicable, for the period of twenty (20) trading days beginning on the first day of the Performance Period.
iii.“Ending Stock Price” means the average closing price of a Share or a share of the common stock of a member of the Peer Group for the last twenty (20) trading days during the Performance Period, with all dividends deemed reinvested as of the applicable ex-dividend date.
iv.“Peer Group” means the companies set forth on Exhibit A. In the event that, during the Performance Period, a company in the Peer Group commences bankruptcy proceedings, such company will remain in the Peer Group and such company’s Ending Stock Price shall be deemed to be $0.  In the event that, during the Performance Period, a company in the Peer Group (i) is acquired by another company or entity or (ii) is otherwise no longer publicly traded, such company will either (x) be removed from the Peer Group for the Performance Period or (y) such company will remain in the Peer Group and such company’s Ending Stock Price shall be deemed to be $0, as determined by the Committee in its sole discretion.
v.“Performance Goals” means Absolute TSR and Relative TSR.
vi.“Performance Period” means the three-year period commencing on March 8, 2021 and ending on March 8, 2024.
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vii.“Relative TSR” means the Company’s Absolute TSR, relative to the TSR of the members of the Peer Group during the Performance Period, expressed as a percentile ranking.
viii.“Settlement Date” means the date on which the Shares underlying the Earned PSUs are issued to the Participant.
ix.“TSR” means the compound return an investor would have received by investing in a share of common stock. It comprises any increase or decrease in the share price over the Performance Period, plus all dividend payments made during the Performance Period deemed reinvested as of the applicable ex-dividend date, and any other benefits accruing to shareholders. For purpose of this Agreement, TSR will be calculated as follows: (Ending Stock Price minus Beginning Stock Price) divided by Beginning Stock Price.
4.Rights as a Stockholder. Unless and until a Performance Stock Unit has vested and the Share underlying it has been distributed to the Participant on the Settlement Date, the Participant will not be entitled to vote in respect of that Performance Stock Unit or that Share. If the Company declares a dividend on its Shares, whether in the form of cash or Shares, between the Grant Date and the Settlement Date, then the Participant shall be entitled to receive on the Settlement Date, a lump sum payment, in cash or Shares, as applicable, equal to the aggregate amount of the dividends paid by the Company on a single Share from the Grant Date to the Settlement Date multiplied by the number of Shares issued to the Participant on the Settlement Date. 
5.Termination of Service; Change in Control.
i.Any Termination. Except as otherwise set forth in Section 5(c) or Section 5(d), in the event that the Participant’s Service terminates for any reason prior to the end of the Performance Period, the Performance Stock Units shall terminate in full and be cancelled immediately upon such termination of Service. 
ii.Termination for Cause; Without Good Reason. In the event that the Participant’s Service is terminated by the Company for Cause or by the Participant without Good Reason, in either case, prior to the Settlement Date, the entire Award of Performance Stock Units, whether or not then vested, shall terminate and be cancelled immediately upon such termination of Service.
iii.Termination without Cause; Termination for Good Reason; Termination due to Death or Disability. In the event that the Participant’s Service with the Company is terminated (i) by the Company without Cause, (ii) to the extent that the Participant is subject to a written employment agreement that contains a definition of Good Reason, by the Participant for Good Reason, or (iii) due to the Participant’s death or Disability, in either case, prior to the end of the Performance Period, then as of the date of such termination the Participant will become vested in a pro-rata number of the Target PSUs based on a fraction, the numerator of which is the number of days of 
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the Participant’s Service from the beginning of the Performance Period through the date of such termination and the denominator of which is the total number of days in the Performance Period. Such pro-rata number of the Target PSUs shall then constitute the Earned PSUs for purposes of this Agreement.
iv.Termination without Cause or for Good Reason following Change in Control. In the event that a Change in Control occurs, the Award is assumed or replaced with an economically equivalent award, and within twenty-four (24) months following such Change in Control, the Participant’s Service with the Company is terminated (i) by the Company without Cause or (ii) to the extent that the Participant is subject to a written employment agreement that contains a definition of Good Reason, by the Participant for Good Reason, in either case, prior to the end of the Performance Period, then as of the date of such termination the Participant will become vested in a number of Performance Stock Units equal to the greater of (x) the Target PSUs and (y) the number of Performance Stock Units that would be earned based on actual performance through the date of such termination.  The number of Performance Stock Units that vest pursuant to the preceding sentence shall then constitute the Earned PSUs for purposes of this Agreement.  For purposes of determining actual performance, the Performance Goals shall be pro-rated through the date of such termination.
v.Change in Control and Award Not Assumed. In the event that a Change in Control occurs, the Company is not the surviving company in such Change in Control, and the Award is not assumed or replaced with an economically equivalent award, then as of the date of the consummation of such Change in Control the Participant will become vested in a number of Performance Stock Units equal to the greater of (x) the Target PSUs and (y) the number of Performance Stock Units that would be earned based on actual performance through the date of such Change in Control.  The number of Performance Stock Units that vest pursuant to the preceding sentence shall then constitute the Earned PSUs for purposes of this Agreement.  For purposes of determining actual performance, the Performance Goals shall be pro-rated through the date of such Change in Control. 
6.Timing and Form of Payment. The Participant will be entitled to receive a Share for each Earned PSU that becomes vested in accordance with Section 2, Section 5(c), Section 5(d) or Section 5(e) of this Agreement. Delivery of the Shares will be made as soon as administratively feasible, but in no event later than 60 days, following the end of the Performance Period, or in the event that the Earned PSUs become vested upon the termination of the Participant’s Service or the occurrence of a Change in Control in accordance with Section 5(c), Section 5(d) or Section 5(e), within 60 days following such event. Shares will be credited to an account established for the benefit of the Participant with the Company’s administrative agent. Subject to Section 7, the Participant will have full legal and beneficial ownership of the Shares at that time.
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7.Minimum Holding Period Requirement. With respect to any Shares acquired by the Participant in settlement of the Earned PSUs, the Participant agrees that the Participant will not sell, pledge, assign, hypothecate, transfer or otherwise dispose of such Shares prior to the date that is one (1) year after the date on which the Earned PSUs become vested in accordance with this Agreement; provided, however, that the restrictions set forth in this Section 7 shall (i) not apply to any Shares withheld or reacquired by the Company to satisfy tax withholding obligations as contemplated by Section 8, (ii) not apply to any Shares sold by the Participant to satisfy tax withholding obligations as contemplated by Section 8, (iii) not apply to any transfer of Shares made without consideration (or for only nominal consideration) to a “family member” (as such term is defined in the General Instructions to a Registration Statement on Form S-8) of the Participant solely for purposes of estate or tax planning, and provided the transfer restrictions on such Shares continue in effect after any such transfer, and (iv) lapse upon the Participant’s death or Disability or as otherwise provided by the Committee. The Company may provide for any Shares acquired under the Award and issued in book-entry form to include notations regarding the restrictions on transfer imposed under this Section 7 (or, as to any such Shares issued in certificate form, provide for such certificates to bear appropriate legends regarding such transfer restrictions).
8.Tax Withholding. The Company or any Affiliate thereof shall have the power to withhold, or require the Participant to remit to the Company or such Affiliate thereof, cash or Shares that are distributable to the Participant with respect to the Performance Stock Units in an amount sufficient to satisfy the federal, state, and local withholding tax requirements, both domestic and foreign, relating to such transaction, and the Company or such Affiliate thereof may defer payment of cash or issuance of Shares until such requirements are satisfied; provided, however, that such amount may not exceed the maximum statutory withholding rate. The Participant shall be entitled to satisfy the amount of any such required tax withholding by having the Company withhold from the Shares otherwise distributable to the Participant upon vesting of the Performance Stock Units a number of Shares having a Fair Market Value equal to the amount of such required tax withholdings.
9.Unauthorized Disclosure; Non-Competition; Non-Solicitation; Interference with Business Relationships; Proprietary Rights.
i.Unauthorized Disclosure. The Participant agrees and understands that in the course of the Participant’s Service, the Participant has been and will be exposed to and has and will receive information relating to the confidential affairs of the Company, its Subsidiaries and Affiliates (collectively, the “Group”), including, without limitation, technical information, intellectual property, business and marketing plans, strategies, customer information, software, other information concerning the products, promotions, development, financing, expansion plans, business policies and practices of the Group and other forms of information considered by the Group to be confidential or in the nature of trade secrets (including, without limitation, ideas, research and development, know-how, formulas, technical data, designs, drawings, specifications, customer and supplier lists, pricing and cost information and business and marketing plans and proposals) (collectively, the “Confidential Information”). Confidential Information shall not include information that is generally known to the public or within the 
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relevant trade or industry other than due to the Participant’s violation of this Section 9(a) or disclosure by a third party who is known by the Participant to owe the Company an obligation of confidentiality with respect to such information.  The Participant agrees that at all times during the Participant’s employment with the Company and thereafter, the Participant shall not disclose such Confidential Information, either directly or indirectly, to any individual, corporation, partnership, limited liability company, association, trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof without the prior written consent of the Company and shall not use or attempt to use any such information in any manner other than in connection with the Participant’s Service, unless required by law to disclose such information, in which case the Participant shall provide the Company with written notice of such requirement as far in advance of such anticipated disclosure as possible. This confidentiality covenant has no temporal, geographical or territorial restriction. Upon termination of the Participant’s Service, the Participant shall promptly supply to the Company all property, computers, tablets, keys, notes, memoranda, writings, lists, files, reports, customer lists, correspondence, tapes, disks, cards (including credit cards), surveys, maps, logs, machines, technical data and any other tangible product or document which has been produced by, received by or otherwise submitted to the Participant during or prior to the Participant’s Service, and any copies thereof in the Participant’s (or reasonably capable of being reduced to his or her) possession; provided that nothing in this Agreement shall prevent the Participant from retaining and utilizing: (i) documents relating to the Participant’s personal benefits, entitlements and obligations; (ii) documents relating to the Participant’s personal tax obligations; (iii) the Participant’s desk calendar, rolodex, and the like; and (iv) such other records and documents as may reasonably be approved by the Company. Notwithstanding the foregoing or anything to the contrary in this Agreement or any other agreement between the Participant and any member of the Group, the Participant shall be entitled to provide, without breaching this Agreement or any such other agreement and without prior notice to the Company, information to governmental or administrative authorities regarding possible violations of law or otherwise testify or participate in any investigation or proceeding by any governmental or administrative authorities, and for purpose of clarity, the Participant is not prohibited from providing information voluntarily to the Securities and Exchange Commission pursuant to Section 21F of the Exchange Act.
ii.Non-Competition. By and in consideration of the Company’s entering into this Agreement, and in further consideration of the Participant’s exposure to the Confidential Information of the Group, the Participant agrees that the Participant shall not, during the period of the Restriction Period (as defined below), directly or indirectly, own, manage, operate, join, control, be employed by, or participate in the ownership, management, operation or control of, or be connected in any manner with, including, without limitation, holding any position as a stockholder, director, officer, consultant, independent contractor, employee, partner, or investor in, any Restricted Enterprise (as defined below); provided, that in no event shall ownership of one percent (1%) or less of the outstanding securities of the limited partnership interest in any private equity fund, hedge fund or venture capital fund or any class of any issuer whose securities are registered under the Exchange Act, standing alone, be prohibited by this Section 9(b), so long as the Participant does not have, or exercise, any rights to manage or operate the business of such fund or issuer other than rights as a limited partner or stockholder thereof.  For purposes of this Section 9(b), “Restricted Enterprise” shall mean any enterprise (including, but 
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not limited to, any enterprise related to the business of acquiring, developing, investing, structuring or managing retail net lease real estate properties and any other lines of business any member of the Group is participating in, or has taken substantive steps towards participating in, as of the date hereof) that is competitive with the business conducted by the Company and its direct or indirect subsidiaries, partnerships and joint ventures during the Participant’s Service, within the United States and anywhere outside the United States where the Company and its direct or indirect subsidiaries, partnerships and joint ventures operated during the Participant’s Service. The “Restriction Period” shall mean the period of the Participant’s Service and for twelve (12) months following the termination thereof.
iii.Non-Solicitation. During the Restriction Period, the Participant shall not:
1.directly or indirectly contact, induce or solicit (or assist any Person to contact, induce or solicit) for employment any person who is, or within twelve (12) months prior to the date of such solicitation was, an employee of any member of the Group; or
2.induce or attempt to induce any customer, supplier, or licensee of the Group to cease doing business with the Group or in any way interfere with the relationship between the Group, on the one hand, and any such customer, supplier, or licensee, on the one hand.
iv.Interference with Business Relationships. During the Restriction Period (other than in connection with carrying out the Participant’s responsibilities for the Group), the Participant shall not directly or indirectly induce or solicit (or assist any Person to induce or solicit) any customer or client of any member of the Group to terminate its relationship or otherwise cease doing business in whole or in part with any member of the Group, or directly or indirectly interfere with (or assist any Person to interfere with) any material relationship between any member of the Group and any of their customers, clients, suppliers, joint venture partners or licensors so as to cause harm to any member of the Group.
v.Extension of Restriction Period. The Restriction Period shall be tolled with respect to Sections 9(b), 9(c), and 9(d) for any period during which the Participant is in breach of any such section.
vi.Proprietary Rights. The Participant shall disclose promptly to the Company any and all inventions, discoveries, and improvements (whether or not patentable or registrable under copyright or similar statutes), and all patentable or copyrightable works, initiated, conceived, discovered, reduced to practice, or made by the Participant, either alone or in conjunction with others, during the Participant’s Service and related to the business or activities of the Group (the “Developments”).  Except to the extent any rights in any Developments constitute a work made for hire under the U.S. Copyright Act, 17 U.S.C. § 101 et seq. that are owned ab initio by a member of the Group, the Participant assigns and agrees to assign all of the Participant’s right, title and interest in all Developments (including all intellectual property rights therein) to the Company or its nominee without further compensation, including all rights or benefits therefor, including without limitation the right to sue and recover for past and future infringement. The 
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Participant acknowledges that any rights in any Developments constituting a work made for hire under the U.S. Copyright Act, 17 U.S.C § 101 et seq. are owned upon creation by the Company as the Participant’s employer.  Whenever requested to do so by the Company, the Participant shall execute any and all applications, assignments or other instruments which the Company shall deem necessary to apply for and obtain trademarks, patents or copyrights of the United States or any foreign country or otherwise protect the interests of the Group.  These obligations shall continue beyond the end of the Participant’s employment with the Company with respect to inventions, discoveries, improvements or copyrightable works initiated, conceived or made by the Participant while employed by the Company, and shall be binding upon the Participant’s employers, assigns, executors, administrators and other legal representatives.  In connection with the Participant’s execution of this Agreement, the Participant has informed the Company in writing of any interest in any inventions or intellectual property rights that the Participant holds as of the date hereof.  If the Company is unable for any reason, after reasonable effort, to obtain the Participant’s signature on any document needed in connection with the actions described in this Section 9(f), the Participant hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as the Participant’s agent and attorney in fact to act for and on the Participant’s behalf to execute, verify and file any such documents and to do all other lawfully permitted acts to further the purposes of this Section 9(f) with the same legal force and effect as if executed by the Participant.
vii.Other Covenants. For the avoidance of doubt, the restrictive covenants set forth in this Section 9 are in addition to, and not in lieu of, any restrictive covenants to which the Participant may otherwise be subject, whether under the terms of his or her employment or services agreement or otherwise.
viii.Severability. The covenants contained in this Section 9 shall be construed as a series of separate covenants, one for each county, city, state or any similar subdivision in any geographic area. Except for geographic coverage, each such separate covenant shall be deemed identical in terms to the covenant contained in the preceding sections. If, in any judicial proceeding, a court refuses to enforce any of such separate covenants (or any part thereof), then such unenforceable covenant (or such part) shall be eliminated from this Agreement to the extent necessary to permit the remaining separate covenants (or portions thereof) to be enforced. In the event that the provisions of this Section 9 are deemed to exceed the time, geographic or scope limitations permitted by applicable law, then such provisions shall be reformed to the maximum time, geographic or scope limitations, as the case may be, permitted by applicable law.
ix.Remedies.
1.The Participant agrees that any breach of the terms of this Section 9 would result in irreparable injury and damage to the Group for which the Company would have no adequate remedy at law; the Participant therefore also agrees that in the event of said breach or any threat of breach, the Company shall be entitled to obtain from any court of competent jurisdiction an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Participant and/or any and all Persons acting for and/or with the Participant, without having to prove damages, 
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in addition to any other remedies to which the Company may be entitled at law or in equity, including, without limitation, the remedy set forth in Section 9(i)(ii) hereof.  The terms of this Section 9(i) shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including, without limitation, the recovery of damages from the Participant. The Participant and the Company further agree that the provisions of the covenants contained in this Section 9 are reasonable and necessary to protect the businesses of the Group because of the Participant’s access to Confidential Information and the Participant’s material participation in the operation of such businesses. 
2.In addition, and not in limitation of the foregoing, in the event of the Participant’s breach of any of the restrictive covenants set forth in this Section 9, (A) the Performance Stock Units (whether vested or unvested) shall immediately be forfeited, (B) the Company shall be entitled to recover any Shares acquired upon the vesting of the Performance Stock Units, and (C) if the Participant has previously sold any of the Shares derived from the Performance Stock Units, the Company shall also have the right to recover from the Participant the economic value thereof. 
10.Nontransferability of Performance Stock Units. The Performance Stock Units granted hereunder may not be sold, transferred, pledged, assigned, encumbered or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution or, on such terms and conditions as the Administrator shall establish, to a permitted transferee. 
11.Beneficiary Designation. The Participant may from time to time name any beneficiary or beneficiaries (who may be named contingently or successively) by whom any right under the Plan and this Agreement is to be exercised in case of his or her death. Each designation will revoke all prior designations by the Participant, shall be in a form reasonably prescribed by the Administrator, and will be effective only when filed by the Participant in writing with the Administrator during his or her lifetime.
12.Requirements of Law. The issuance of Shares following vesting of the Performance Stock Units 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 Shares shall be issued upon vesting of any portion of the Performance Stock Units granted hereunder, if such issuance would result in a violation of applicable law, including the U.S. federal securities laws and any applicable state or foreign securities laws.
13.No Guarantee of Continued Service. Nothing in the Plan or in this Agreement shall interfere with or limit in any way the right of the Company or an Affiliate thereof to terminate the Participant’s Service at any time or confer upon the Participant any right to continued Service.
14.Interpretation; Construction. Any determination or interpretation by the Administrator under or pursuant to this Agreement shall be final and conclusive on all persons affected hereby. Except as otherwise expressly provided in the Plan, in the event of a conflict between any term of this Agreement and the terms of the Plan, the terms of the Plan shall control.
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15.Amendments. The Administrator may, in its sole discretion, at any time and from time to time, alter or amend this Agreement and the terms and conditions of the unvested portion of the Performance Stock Units (but not any portion of the Performance Stock Units that has previously vested) in whole or in part, including without limitation, amending the criteria for vesting set forth in Section 2 hereof and substituting alternative vesting criteria; provided that such alteration, amendment, suspension or termination shall not adversely alter or impair the rights of the Participant under the Performance Stock Units without the Participant’s consent. The Company shall give written notice to the Participant of any such alteration or amendment of this Agreement as promptly as practicable after the adoption thereof.  This Agreement may also be amended by a writing signed by both the Company and the Participant.
16.Miscellaneous.
i.Notices. All notices, requests, demands, letters, waivers and other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been duly given if delivered personally, mailed, certified or registered mail with postage prepaid, sent by next-day or overnight mail or delivery, or sent by fax, as follows:
If to the Company:
    NetSTREIT Corp.
    5910 N. Central Expressway
    Suite 1600
    Dallas, TX 75206
    Phone:

If to the Participant, to the Participant’s last known home address,
or to such other person or address as any party shall specify by notice in writing to the Company.  All such notices, requests, demands, letters, waivers and other communications shall be deemed to have been received (w) if by personal delivery on the day after such delivery, (x) if by certified or registered mail, on the fifth business day after the mailing thereof, (y) if by next-day or overnight mail or delivery, on the day delivered, or (z) if by fax, on the day delivered, provided that such delivery is confirmed.
ii.Binding Effect; Benefits. This Agreement shall be binding upon and inure to the benefit of the parties to this Agreement and their respective successors and assigns.  Nothing in this Agreement, express or implied, is intended or shall be construed to give any person other than the parties to this Agreement or their respective successors or assigns any legal or equitable right, remedy or claim under or in respect of any agreement or any provision contained herein.
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iii.No Guarantee of Future Awards. This Agreement does not guarantee the Participant the right to or expectation of future Awards under the Plan or any future plan adopted by the Company.
iv.No Impact on Other Benefits. The value of the Performance Stock Units is not part of the Participant’s normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.
v.Waiver. Either party hereto may by written notice to the other (i) extend the time for the performance of any of the obligations or other actions of the other under this Agreement, (ii) waive compliance with any of the conditions or covenants of the other contained in this Agreement and (iii) waive or modify performance of any of the obligations of the other under this Agreement.  Except as provided in the preceding sentence, no action taken pursuant to this Agreement, including, without limitation, any investigation by or on behalf of either party, shall be deemed to constitute a waiver by the party taking such action of compliance with any representations, warranties, covenants or agreements contained herein.  The waiver by either party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach and no failure by either party to exercise any right or privilege hereunder shall be deemed a waiver of such party’s rights or privileges hereunder or shall be deemed a waiver of such party’s rights to exercise the same at any subsequent time or times hereunder.
vi.Entire Agreement; Plan Controls. This Agreement, together with the Plan, constitutes the entire obligation of the parties with respect to the subject matter of this Agreement and supersedes any prior written or oral expressions of intent or understanding with respect to such subject matter. In the event that the terms of this Agreement conflict with the terms of the Plan, the Plan shall control.
vii.Code Section 409A Compliance. The Performance Stock Units are intended to be exempt from or comply with the requirements of Code Section 409A and this Agreement shall be interpreted accordingly. Notwithstanding any provision of this Agreement, to the extent that the Administrator determines that any portion of the Performance Stock Units granted under this Agreement is subject to Code Section 409A and fails to comply with the requirements of Code Section 409A, notwithstanding anything to the contrary contained in the Plan or in this Agreement, the Administrator reserves the right to amend, restructure, terminate or replace such portion of the Performance Stock Units in order to cause such portion of the Performance Stock Units to either not be subject to Code Section 409A or to comply with the applicable provisions of such section.
viii.Applicable Law. This Agreement shall be governed by and construed in accordance with the law of the State of Delaware, regardless of the law that might be applied under principles of conflict of laws.
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ix.Section and Other Headings. The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.
x.Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument.
xi.Erroneously Awarded Compensation. Notwithstanding any provision in the Plan or in this Agreement to the contrary, this Award shall be subject to any compensation recovery and/or recoupment policy that may be adopted and amended from time to time by the Company to comply with applicable law, including, without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act, or to comport with good corporate governance practices.

[Signature Page Follows]
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IN WITNESS WHEREOF, the Company and the Participant have duly executed this Agreement as of the date first above written.

    NETSTREIT CORP.
    By:        
    Name:        
    Title:        

    PARTICIPANT
            
    Name: ____________________________________

[Signature Page to PSU Agreement]

Exhibit A

Peer Group Companies

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