Document:

EX-10.2

 Exhibit 10.2 

Execution Version 

JPMORGAN CHASE BANK, N.A. 

383 Madison Avenue 
 New York, NY
10179 
 October 29, 2020 

Project Palau 

Facilities Commitment Letter 
 Marvell
Technology Group Ltd. 
 Maui Holdco, Inc. 
 Canon’s Court

 22 Victoria Street 
 Hamilton HM 12 Bermuda 

Attention: Jean Hu, Chief Financial Officer 
 Ladies and
Gentlemen: 
 Marvell Technology Group Ltd., a Bermuda exempted company (“you” or “Maui”),
has advised JPMorgan Chase Bank N.A. (“JPMorgan”, the “Commitment Party”, “we” or “us”) that it intends to acquire (the
“Acquisition”) a Delaware corporation previously identified to us and codenamed “Indigo” (the “Target”, and together with its subsidiaries, the “Acquired Business”)
pursuant to an agreement and plan of merger and reorganization, to be dated as of the date hereof (including the exhibits and schedules thereto, collectively, the “Acquisition Agreement”), by and among Maui, Target, Maui
Holdco, Inc., a Delaware corporation and a wholly-owned subsidiary of Maui (“Holdco” or the “Borrower”), Maui Acquisition Company Ltd, a Bermuda exempted company and a wholly-owned subsidiary of Holdco
(“Bermuda Merger Sub”), and Indigo Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of Holdco (“Delaware Merger Sub”), in accordance with which: (i) Bermuda Merger Sub will
merge with and into you, with you surviving as a wholly-owned subsidiary of Holdco (the “Reorganization”); and (ii) Delaware Merger Sub will merge with and into the Target, with the Target surviving as a wholly-owned
subsidiary of Holdco and with the existing equity holders of the Target being entitled to receive the aggregate cash consideration (the “Acquisition Cash Consideration”) and newly issued shares of common stock of the Borrower
(the “Acquisition Common Stock Consideration” and together with the Acquisition Cash Consideration, the “Acquisition Consideration”), in each case, as set forth in the Acquisition Agreement as in
effect on the date hereof, and, in connection therewith, to repay certain existing indebtedness of the Acquired Business. The date of the consummation of the Acquisition is referred to herein as the “Closing Date”. In
connection therewith, you, the Borrower and we have entered into a commitment letter (the “Bridge Commitment Letter”) dated as of the date hereof providing for a 364-day senior
unsecured bridge term loan facility in an aggregate principal amount of $2,500,000,000 (the “Bridge Facility”). 

In connection therewith, you have advised us that the Borrower intends to obtain (i) a new unsecured term loan credit facility in an
aggregate principal amount of $1,500,000,000 on the terms set forth in Exhibit A (the “Term Facility”, and loans thereunder, the “Term Loans”) and (ii) a new senior unsecured revolving credit
facility in an aggregate principal amount of $750,000,000 on the terms set forth in Exhibit C (the “Revolving Facility” and, together with the Term Facility, the “Facilities”), which Revolving Facility
will be implemented either as a new 

  
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credit facility or as an amendment to, or amendment and restatement of, the Credit Agreement dated as of June 13, 2018 among Goldman Sachs Bank USA, as general administrative agent and term
facility agent, Bank of America, N.A., as revolving facility agent, Maui, as borrower, and the lenders party thereto (the “Existing Credit Agreement”). You have further advised us that the total amount required to effect the
Acquisition (excluding common stock of the Borrower to be issued as direct consideration for the Acquisition), to repay certain existing indebtedness of the Acquired Business, and to pay the fees and expenses incurred in connection therewith (the
“Transaction Costs”) is expected to be provided by a combination of (a) the issuance by you or the Borrower of unsecured debt securities, in public or private offerings the proceeds of which are to be used to finance the
Transactions (the “Debt Securities”), (b) the incurrence by you or the Borrower of the Term Facility and/or (c) to the extent that Debt Securities are not issued on or prior to the Closing Date in an aggregate amount of
at least $2,500,000,000, the borrowing by the Borrower of loans under the Bridge Facility. You have further advised us that in connection therewith, it is expected that either (i) the term loan facility under the Existing Credit Agreement shall
be amended prior to the Closing Date to permit the Transactions (as defined below) or (ii) all outstanding term loans thereunder shall be repaid in full. The Acquisition, the entering into and funding of the Term Facility and the Bridge
Facility, the entering into of the Revolving Facility, the issuance of Securities, the repayment of certain existing indebtedness of the Acquired Business and the transactions contemplated by or related to the foregoing are collectively referred to
as the “Transactions”. 
 1. Commitment 

The Commitment Party is pleased to advise you of its commitment to provide (i) the entire amount of the Term Facility (the
“Term Commitment”) upon the terms set forth or referred to in this facilities commitment letter (the “Commitment Letter”) and in the Summary of Terms and Conditions attached hereto
as Exhibit A (together with Exhibit D hereto, the “Term Facility Term Sheet”) and subject solely to the Term Funding Conditions (as defined below) and (ii) $100,000,000 of the Revolving Facility (the “Revolving
Commitment”) upon the terms and conditions set forth or referred to in this Commitment Letter and in the Summary of Terms and Conditions attached hereto as Exhibit C (together with Exhibit D hereto, the “Revolving Facility
Term Sheet” and together with the Term Facility Term Sheet and Exhibit B hereto, the “Term Sheets”). 

2. Titles and Roles 
 It
is agreed that (i) with respect to the Term Facility and/or any other term loan facility or revolving credit facility entered into by you in connection with the Acquisition, the initial financing of the Acquisition and the refinancing of any
interim debt for the Acquisition (the “Other Bank Financing”), JPMorgan will act as the sole and exclusive administrative agent (in such capacity, the “Administrative Agent”), and that JPMorgan will
act as the sole and exclusive lead arranger and bookrunner (in such capacities, the “Term Lead Arranger”) and (ii) with respect to the Revolving Facility, JPMorgan will act as lead “left”
arranger and bookrunner (it being understood that JPMorgan will have “left lead” placement in all documentation used in connection with the Revolving Facility, and JPMorgan shall have all roles and responsibilities customarily associated
with such placement) (in such capacities, the “Revolving Lead Arranger” and together in its capacity as Term Lead Arranger, the “Lead Arranger”) and a financial institution
providing a commitment in respect of the Revolving Facility of at least $100,000,000 shall be appointed by you to act as administrative agent; provided that the Borrower agrees that JPMorgan may perform its responsibilities hereunder through
its affiliate J.P. Morgan Securities LLC. You agree that with respect to the Term Facility and any Other Bank Financing, no other 

  
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agents, co-agents, bookrunners or arrangers will be appointed, no other titles will be awarded and no compensation (other than as expressly contemplated by
this Commitment Letter and the Fee Letter referred to below) will be paid; provided, you may assign agent or co-agent titles as reasonably agreed by us. 

It is understood and agreed that this Commitment Letter shall not constitute a commitment to provide, arrange or syndicate any portion of the
Revolving Facility or any Other Bank Financing in excess of the Commitment Party’s express commitments hereunder. You and the Borrower further acknowledge and agree that this Commitment Letter is not a guarantee with respect to the successful
outcome of the syndication of any Facility. 
 3. Syndication 

We intend to syndicate the Facilities to a group of financial institutions (together with JPMorgan, the “Lenders”)
identified by us in consultation with you. JPMorgan intends to commence syndication efforts promptly upon the execution of this Commitment Letter and the execution of the Acquisition Agreement (which syndication shall not reduce the commitments of
the Commitment Party hereunder with respect to the Term Facility, except as provided for in the first paragraph of Section 10 hereof). Until the earlier of 60 days following the Closing Date and the later of (x) completion of a Successful
Term Syndication (as defined in the Fee Letter (as defined below)) and (y) completion of a Successful Revolving Syndication (as defined below) (such earlier date, the “Syndication Date”), you agree actively to assist
(and to use your commercially reasonable efforts to cause the Acquired Business to actively assist) JPMorgan in completing a Successful Term Syndication and a Successful Revolving Syndication. Such assistance shall include (a) your using
commercially reasonable efforts to ensure that the syndication efforts benefit materially from your existing lending relationships, (b) direct contact between your senior management and advisors and the proposed Lenders (and using your
commercially reasonable efforts to ensure such contact between senior management of the Target and the proposed Lenders) on reasonable prior notice and at reasonable times and places, (c) your assistance in the preparation of a confidential
information memorandum with respect to the Facilities in form and substance customary for transactions of this type and otherwise reasonably satisfactory to JPMorgan (each a “Confidential Information Memorandum”) and other
customary marketing materials to be used in connection with the syndication of the Facilities (collectively with the Term Sheets and any additional summary of terms prepared for distributions to the Public-Siders (as hereafter defined), the
“Information Materials”), (d) prior to the completion of a Successful Term Syndication, your using commercially reasonable efforts to cause the Borrower to have monitored Public Debt Ratings (as defined below) (but no
specific rating) that give effect to the Transactions from Moody’s Investor Services (“Moody’s”), Standard & Poor’s Financial Services LLC (“S&P”) and Fitch Ratings, Inc.
(“Fitch”) and (e) the hosting, with JPMorgan, of one or more meetings of prospective Lenders at times and places to be mutually agreed (which meetings may be held virtually). You hereby authorize the Lead Arranger to
download copies of your trademark logos from its website and post copies thereof and any Information Materials to a deal site on IntraLinksTM, DebtDomain, SyndTrak, ClearPar or any other
electronic platform chosen by the Lead Arranger to be its electronic transmission system (an “Electronic Platform”) established by the Lead Arranger to syndicate the Facilities, and to use the Borrower’s trademark logos
on any confidential information memoranda, presentations and other marketing materials prepared in connection with the syndication of the Facilities or, with your consent, in any advertisements that we may place after the closing of the Facilities
in financial and other newspapers, journals, the World Wide Web, home page or otherwise, at JPMorgan’s own expense describing its services to the Borrower hereunder. Upon the request of JPMorgan, you will use commercially reasonable efforts to
cause the Target to 

  
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furnish for no fee, to JPMorgan, an electronic version of the Target’s trademark logos for use in marketing materials for the purpose of facilitating the syndication of the Facilities. You
also understand and acknowledge that we may provide to market data collectors, such as league tables, or other service providers to the lending industry, information regarding the closing date, size, type, purpose of, and parties to, the Facilities.

 In order to facilitate an orderly and successful syndication of the Facilities, you agree that until the Syndication Date, the Borrower
will not (and will use commercially reasonable efforts to cause the Acquired Business to not) issue, announce, offer, place or arrange debt securities or any syndicated credit facilities of the Borrower or its subsidiaries (or the Acquired Business)
(other than (i) the Debt Securities, (ii) the Bridge Facility, (iii) indebtedness permitted to be incurred by the Acquired Business pursuant to the Acquisition Agreement, (iv) other indebtedness in an aggregate principal amount
not to exceed $100,000,000, (v) capital leases, letters of credit and purchase money and equipment financings of the Borrower and its subsidiaries and of the Acquired Business, in each case, in the ordinary course of business, (vi) working
capital facilities of foreign subsidiaries and (vii) any other financing agreed by the Lead Arranger), in each case if such issuance, announcement, offering, placement or arrangement could reasonably be expected to materially impair the primary
syndication of the Facilities. 
 You will assist us in preparing Information Materials, including but not limited to a Confidential
Information Memorandum or lender slides, for distribution to prospective Lenders. If requested, you also will assist us in preparing an additional version of the Information Materials (the “Public-Side Version”) to be used by
prospective Lenders’ public-side employees and representatives (“Public-Siders”) who do not wish to receive material non-public information (within the meaning of United States
federal securities laws) with respect to you, the Target, the Borrower, their respective affiliates and any of their respective securities (“MNPI”) and who may be engaged in investment and other market-related activities with
respect to you, the Target, the Borrower’s or their affiliates’ securities or loans. Before distribution of any Information Materials, you agree to execute and deliver to us (i) a customary letter in which you authorize distribution
of the Information Materials to a prospective Lender’s employees willing to receive MNPI (“Private-Siders”) and (ii) a separate customary letter in which you authorize distribution of the Public-Side Version to
Public-Siders not containing any MNPI. You also acknowledge that publishing debt analysts employed by JPMorgan and its affiliates who are Public-Siders may participate in any meetings or telephone conference calls held pursuant to clause (e) of
the first paragraph of Section 3 of this Commitment Letter; provided that such analysts shall not publish any information obtained from such meetings or calls (i) until the syndication of the Facilities has been completed upon the
making of allocations by JPMorgan and JPMorgan freeing the Facilities to trade or (ii) in violation of any confidentiality agreement between you and JPMorgan. 

The Borrower agrees that the following documents may be distributed to both Private-Siders and Public-Siders, unless the Borrower advises
JPMorgan in writing (including by email) within a reasonable time prior to their intended distribution that such materials should only be distributed to Private-Siders: (a) administrative materials prepared by JPMorgan for prospective Lenders
(such as a lender meeting invitation, bank allocation, if any, and funding and closing memoranda), (b) term sheets summarizing the Facilities’ terms and notification of changes in the Facilities’ terms and (c) other materials intended
for prospective Lenders after the initial distribution of Information Materials. If you advise us that any of the foregoing should be distributed only to Private-Siders, then Public-Siders will not receive such materials without further discussions
with you. 

  
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 The Borrower hereby authorizes JPMorgan to distribute draft and execution versions of
definitive documentation relating to the Facilities to Private-Siders and Public-Siders. 
 As the Lead Arranger, JPMorgan will manage all
aspects of the syndication in consultation with you, including decisions as to the selection of institutions to be approached and when they will be approached, when their commitments will be accepted, which institutions will participate, the
allocations of the commitments among the Lenders and the amount and distribution of fees among the Lenders; provided that the Lead Arranger will not syndicate to any person (other than those financial institutions (and their affiliates)
identified by the Lead Arranger to you in writing on or prior to the date hereof (including, for the avoidance of doubt, those lenders identified in the “syndication plan” for the Facilities agreed to by the Lead Arranger and you prior to
the date hereof), any Permitted Assignee and to lenders under the Existing Credit Agreement (other than a “defaulting lender” under and as defined therein, as of the date of such syndication)) without your consent (such consent not to be
unreasonably withheld or delayed). In acting as the Lead Arranger, JPMorgan will have no responsibility other than to arrange the syndication as set forth herein and is acting solely in the capacity of an
arm’s-length contractual counterparty to the Borrower with respect to the arrangement of the Facilities (including in connection with determining the terms of the Facilities) and not as a financial
advisor or a fiduciary to, or an agent of, the Borrower or any other person. 
 Notwithstanding anything to the contrary contained in this
Commitment Letter or any other agreement or undertaking concerning the Term Facility, but without limiting the conditions precedent in Section 6 hereof or Exhibit B, and without limiting your obligations to assist with syndication in this
Section 3, none of the foregoing obligations under the provisions of this Section 3 nor the commencement, conduct or completion of the syndication contemplated by this Section 3 is a condition to the Term Commitment or the funding of
the Term Facility on the Closing Date. 
 For the avoidance of doubt, without limiting your representation and covenant set forth in
Section 4 below, nothing contained in this Commitment Letter shall require you to provide any information to the extent that the provision thereof would violate any attorney-client privilege, law, rule or regulation, or any obligation of
confidentiality binding on you, the Acquired Business or your or its respective affiliates; provided that you shall (x) use commercially reasonable efforts to communicate, to the extent permitted, the applicable information in a way that
would not violate the applicable law, rule, regulation or obligation and (y) to the extent you are unable to disclose any such information, notify us if any such information is being withheld as a result of any such obligation of
confidentiality (but solely if providing such notice would not violate such confidentiality obligation). 
 4. Information 

To assist JPMorgan in its syndication efforts, you agree promptly to prepare and provide to the Lead Arranger all customary information with
respect to the Borrower and the transactions contemplated hereby, including all financial information and projections concerning the Borrower and the Acquired Business (the “Projections”), as we may reasonably request in
connection with the arrangement and syndication of the Facilities. You hereby represent and covenant (to the best of your knowledge to the extent relating to the Acquired Business) that (a) all written information other than the Projections,
forward-looking information and other information of a general economic or industry nature (the “Information”) that has been or will be made available to the Lead Arranger by you or any of your representatives in connection
with the Transactions, when taken as a whole, is or will be, when furnished, complete and correct in all material respects and 

  
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does not or will not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not materially
misleading in light of the circumstances under which such statements are made when taken as a whole and giving effect to all supplements and updates thereto and (b) the Projections concerning you, the Borrower and the Acquired Business that
have been or will be made available to the Lead Arranger by you or any of your representatives have been or will be prepared in good faith based upon assumptions that were believed by the Borrower to be reasonable as of the date such Projections are
prepared and as of the date such Projections are made available to the Lead Arranger (it being understood that the Projections are as to future events and are not to be viewed as facts, the Projections are subject to significant uncertainties and
contingencies, many of which are beyond your control, that no assurance can be given that any particular Projections will be realized and that actual results during the period or periods covered by any such Projections may differ significantly from
the projected results and such differences may be material). If, at any time prior to the later of the Closing Date and the Syndication Date, you become aware that any of the representations and warranties in the preceding sentence would not be
accurate and complete in any material respect (to your knowledge with respect to Information and Projections relating to the Acquired Business) if the Information or Projections were being furnished, and such representations and warranties were
being made, at such time, then you agree to promptly supplement the Information and/or Projections so that the representations and warranties contained in this paragraph (to your knowledge with respect to Information and Projections relating to the
Acquired Business) remain accurate and complete in all material respects under those circumstances. The accuracy of the foregoing representations and warranties shall not be a condition to the obligations of the Commitment Party hereunder unless the
inaccuracy results in an express condition hereunder otherwise not being satisfied on the Closing Date. You understand that in arranging and syndicating the Facilities, we may use and rely on the Information and Projections without independent
verification thereof. 
 5. Fees 

As consideration for JPMorgan’s commitments hereunder and its agreement to perform the services described herein, you agree to pay to
JPMorgan the nonrefundable fees set forth in Annex I to each Term Sheet and in the Facilities Fee Letter dated the date hereof and delivered herewith (the “Fee Letter”). 

You agree that, once paid, the fees or any part thereof payable hereunder or under the Fee Letter shall not be refundable under any
circumstances, regardless of whether the transactions or borrowings contemplated by this Commitment Letter are consummated, except as otherwise agreed in writing by you and JPMorgan. All fees payable hereunder and under the Fee Letter shall be paid
in immediately available funds in U.S. Dollars and shall not be subject to reduction by way of withholding, setoff or counterclaim or be otherwise affected by any claim or dispute related to any other matter. In addition, all fees payable hereunder
shall be paid without deduction for any taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any national, state or local taxing authority, or will be grossed up by you for such amounts. 

6. Conditions 
 The
Commitment Party’s commitments hereunder, and the Commitment Party’s agreement to perform the services described herein, (I) with respect to the Term Facility, are subject solely to satisfaction or waiver of each of the following
conditions precedent: (a) since the date of the Acquisition Agreement, there shall not have occurred any Target Material Adverse Effect (as defined below), (b) the execution and delivery by the parties thereto of definitive

  
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documentation with respect to the Term Facility consistent with this Commitment Letter and the Fee Letter (the “Term Credit Documentation” and the
date of effectiveness thereof, the “Term Facility Effective Date”); provided that subject to the Limited Conditionality Provision (as defined below), documentation substantially similar to the documentation (with
adjustments to reflect that the Term Facility is a “term” facility) in connection with the Existing Credit Agreement, with such modifications as are set forth in the Term Facility Term Sheet (including, for the avoidance of doubt, the
modifications referred to in Exhibit D solely to the extent such modifications are made to the Existing Credit Agreement (or any amendment, restatement, refinancing or replacement thereof or incorporated into the Revolving Credit Facility)) or are
mutually agreed upon, is satisfactory for this purpose and (c) the satisfaction of conditions set forth on Exhibit B (clauses (I)(a) through (c) above, collectively, the “Term Funding
Conditions”) and (II) with respect to the Revolving Facility, are subject to satisfaction or waiver of each of the following conditions precedent: (a) the execution and delivery by the parties thereto of definitive
documentation with respect to the Revolving Facility consistent with this Commitment Letter and the Fee Letter (the “Revolving Credit Documentation”), (b) the receipt of commitments from other Lenders in
respect of the Revolving Facility of no less than $650,000,000 (a “Successful Revolving Syndication”) and (c) the satisfaction of the conditions set forth in Exhibit C (including termination in full of the
“Revolving Commitments” under the Existing Credit Agreement and receipt by the Lead Arranger of customary documentary evidence thereof). 

For the purposes hereof, “Target Material Adverse Effect” means a “Material Adverse Effect on the Company”
(as defined in the Acquisition Agreement as in effect on the date hereof). 
 Notwithstanding anything in this Commitment Letter, the Fee
Letter, the Term Credit Documentation, the Revolving Credit Documentation or any other letter agreement or other undertaking concerning the financing of the Transactions to the contrary, (a) the only representations the accuracy of which shall
be a condition to the availability of the Term Facility on the Closing Date shall be (i) such of the representations made by the Target in the Acquisition Agreement (as hereinafter defined) as are material to the interests of the Lenders, but
only to the extent that you have (or an affiliate of yours has) the right to terminate your (or your affiliates’) obligations under the Acquisition Agreement as a result of the breach of such representations in the Acquisition Agreement, or the
accuracy of such representations in the Acquisition Agreement is a condition to your (or your affiliates’) obligations to consummate the Acquisition pursuant to the Acquisition Agreement (the “Acquisition Agreement
Representations”) and (ii) the Specified Representations (as hereinafter defined) and (b) the terms of the Term Credit Documentation shall be in a form such that they do not impair the availability of the loans under the Term
Facility on the Closing Date if the Term Funding Conditions are satisfied. For purposes hereof, “Specified Representations” means the representations and warranties of the Borrower relating to corporate status of the Borrower
and the Guarantors, corporate power and authority to enter into the Term Credit Documentation, due authorization, execution, delivery and enforceability of the Term Credit Documentation, no conflicts with or consents under charter documents of the
Borrower and the Guarantors, solvency of the Borrower and its subsidiaries on a consolidated basis after giving effect to the Transactions (solvency to be defined in a manner consistent with Annex I to Exhibit B), no conflicts with or consents under
the applicable credit agreements and indentures governing indebtedness for borrowed money in a principal or committed amount greater than $100,000,000 (as determined after giving pro forma effect to the Transactions to occur on the Closing Date and
without such representation being subject to any material adverse effect or similar qualifications), Federal Reserve margin regulations, the use of the proceeds of the Term Facility not violating laws against sanctioned persons, the Foreign Corrupt
Practices Act or the Patriot Act and compliance with the Investment Company Act. This paragraph, and the provisions herein, shall be referred to as the “Limited Conditionality Provision”. 

  
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 7. Limitation of Liability, Indemnity, Settlement 

 

	 	(a)	 Limitation of Liability. 

You agree that (i) in no event shall any of the Commitment Party and its affiliates and its officers, directors, employees, advisors, and
agents (each, and including, without limitation, JPMorgan, an “Arranger-Related Person”) have any Liabilities, on any theory of liability, for any special, indirect, consequential or punitive damages incurred by you, your
affiliates or your respective equity holders arising out of, in connection with, or as a result of, this Commitment Letter, the Fee Letter or any other agreement or instrument contemplated hereby; and (ii) no Arranger-Related Person shall have
any Liabilities arising from, or be responsible for, the use by others of Information or other materials (including, without limitation, any personal data) obtained through electronic, telecommunications or other information transmission systems,
including an Electronic Platform or otherwise via the internet other than for direct, actual damages resulting from the gross negligence or willful misconduct of such Arranger-Related Person as determined by a final,
non-appealable judgment of a court of competent jurisdiction; provided that, nothing in this clause (a) shall relieve you of any obligation you may have to indemnify an Indemnified Person, as
provided in clause (b) below, against any special, indirect, consequential or punitive damages asserted against such Indemnified Person by a third party. You agree, to the extent permitted by applicable law, to not assert any claims against any
Arranger-Related Person with respect to any of the foregoing. As used herein, the term “Liabilities” shall mean any losses, claims (including intraparty claims), demands, damages or liabilities of any kind. 

 

	 	(b)	 Indemnity. 

You agree (A) to (i) indemnify and hold harmless each of the Commitment Party, and its affiliates and its officers, directors,
employees, advisors, and agents (each, and including, without limitation, JPMorgan, an “Indemnified Person”) from and against any and all Liabilities and related expenses to which any such Indemnified Person may become
subject arising out of or in connection with this Commitment Letter, the Facilities, the use of the proceeds thereof, any related transaction or the activities performed or the Commitments or services furnished pursuant to this Commitment Letter or
the role of the Commitment Party in connection therewith or in connection with any actual or prospective claim, litigation, investigation, arbitration or administrative, judicial or regulatory action or proceeding in any jurisdiction relating to any
of the foregoing (including in relation to enforcing the terms of clause (a) above and the terms of this clause (b)) (each, a “Proceeding”), regardless of whether or not any Indemnified Person is a party thereto and
whether or not such Proceeding is brought by you, your equity holders, affiliates, creditors, the Target or any other person and (ii) reimburse each Indemnified Person upon demand (upon presentation of a summary statement, in reasonable detail)
for any legal or other expenses (but limited, in the case of legal fees and expenses, to the reasonable and documented or invoiced out-of-pocket fees and expenses of one
counsel, representing all of the Indemnified Parties, taken as a whole, and, if necessary, of a single local counsel in each appropriate jurisdiction (which may include a single special counsel acting in multiple jurisdictions) for all such
Indemnified Persons, taken as whole (and, in the case of an actual or perceived conflict of interest where the Indemnified Person affected by such conflict notifies you of the existence of such conflict and thereafter retains its own counsel, of
another firm of counsel for each such affected Indemnified Person)) incurred in connection with investigating or defending any of the 

  
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foregoing, regardless of whether or not in connection with any pending or threatened Proceeding to which any Indemnified Person is a party, in each case as such expenses are incurred or paid;
provided that the foregoing indemnity will not, as to any Indemnified Person, apply to any Liabilities or related expenses to the extent they are found by a final, non-appealable judgment of a court of
competent jurisdiction to (I) result from (x) the willful misconduct, bad faith or gross negligence of such Indemnified Person in performing its activities or in furnishing its Commitments or services under this Commitment Letter or
(y) a material breach by such Indemnified Person of the Commitment Letter, the Fee Letter or any of the Term Credit Documentation or the Revolving Credit Documentation, or (II) have not resulted from an act or omission by you or any of
your affiliates and have been brought by an Indemnified Person against any other Indemnified Person (other than any claims against the Commitment Party in its capacity or in fulfilling its role as an arranger or agent or any similar role hereunder)
and (B) to reimburse the Commitment Party and its affiliates on demand (upon presentation of a summary statement, in reasonable detail) for all reasonable documented or invoiced
out-of-pocket expenses (including due diligence expenses, syndication expenses, travel expenses, and reasonable fees, charges and disbursements of counsel which shall be
limited to the reasonable and documented or invoiced out-of-pocket fees and other charges of one counsel to the Lead Arranger and the Administrative Agent and, if
necessary, of one regulatory counsel and one local counsel to the Lenders retained by the Lead Arranger in each relevant regulatory field and each relevant jurisdiction, respectively (and, in the case of an actual or perceived conflict of interest
where the Commitment Party affected by such conflict notifies you of the existence of such conflict and thereafter retains its own counsel, of another firm of counsel for each such affected Commitment Party)) incurred in connection with the
Facilities and any related documentation (including this Commitment Letter, the Term Sheets, the Fee Letter, the Term Credit Documentation and the Revolving Credit Documentation) or the administration, amendment, modification or waiver thereof. 

 

	 	(c)	 Settlement. 

You shall not be liable for any settlement of any Proceeding if the amount of such settlement was effected without your prior written consent
(which consent shall not be unreasonably withheld, conditioned or delayed), but if settled with your written consent or if there is a final judgment in any such Proceeding, you agree to indemnify and hold harmless each Indemnified Person from and
against any and all Liabilities and related expenses by reason of such settlement or judgment in accordance with the terms of clause (b) above. You shall not, without the prior written consent of the Commitment Party and its affiliates (which
consent shall not be unreasonably withheld, conditioned or delayed), effect any settlement of any pending or threatened Proceedings in respect of which indemnity could have been sought hereunder by the Commitment Party unless such settlement
(x) includes an unconditional release of such Indemnified Person in form and substance reasonably satisfactory to the Commitment Party from all liability on claims that are the subject matter of such Proceedings and (y) does not include
any statement as to or any admission of fault, culpability or a failure to act by or on behalf of the Commitment Party or any injunctive relief or other non-monetary remedy. You acknowledge that any failure to
comply with your obligations under the preceding sentence may cause irreparable harm to the Commitment Party and the other Indemnified Persons. 

8. Affiliate Activities, Sharing of Information, Absence of Fiduciary Relationships 

The Commitment Party may employ the services of its affiliates in providing certain services hereunder and, in connection with the provision
of such services, may exchange with such affiliates information concerning you and the other companies that may be the subject of the transactions contemplated by this Commitment Letter, and, to the extent so employed, such

  
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affiliates shall be entitled to the benefits, and be subject to the obligations, of the Commitment Party hereunder; provided that with respect to the Commitment, any assignments thereof to
an affiliate or branch will not relieve the Commitment Party from any of its obligations hereunder unless and until such affiliate or branch shall have funded the portion of the Commitment so assigned on the Closing Date. The Commitment Party shall
be responsible for its affiliates’ failure to comply with such obligations under this Commitment Letter. 
 You acknowledge that the
Commitment Party and its affiliates may be providing debt financing, equity capital or other services (including financial advisory services) to other companies in respect of which you may have conflicting interests regarding the transactions
described herein and otherwise. The Commitment Party will not use confidential information obtained from you by virtue of the transactions contemplated by this Commitment Letter or its other relationships with you in connection with the performance
by such Commitment Party of services for other companies, and the Commitment Party will not furnish any such information to other companies. You also acknowledge that the Commitment Party has no obligation to use in connection with the transactions
contemplated by this Commitment Letter, or to furnish to you, confidential information obtained from other companies. 
 You agree that the
Commitment Party will act under this Commitment Letter as an independent contractor and that nothing in this Commitment Letter will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between the
Commitment Party, on the one hand, and you and your respective equity holders or your and their respective affiliates on the other hand. You acknowledge and agree that (i) the transactions contemplated by this Commitment Letter are arm’s-length commercial transactions between the Commitment Party and, if applicable, its affiliates, on the one hand, and you, on the other hand, (ii) in connection therewith and with the process leading
to such transaction the Commitment Party and, if applicable, each of its affiliates, is acting solely as a principal and has not been, is not and will not be acting as an advisor, agent or fiduciary of you, your management, equity holders,
creditors, affiliates or any other person and (iii) with respect to the transactions contemplated hereby or the process leading thereto, the Commitment Party and, if applicable, its affiliates, has not assumed (x) an advisory or fiduciary
responsibility in favor of you or your affiliates (irrespective of whether the Commitment Party or any of its affiliates has advised or is currently advising you or your affiliates on other matters (which, for the avoidance of doubt, includes acting
as a financial advisor to the Borrower or any of its affiliates in respect of any transaction related hereto)) or (y) any other obligation except the obligations expressly set forth in this Commitment Letter. You further acknowledge and agree
that (i) you are responsible for making your own independent judgment with respect to such transactions and the process leading thereto, (ii) you are capable of evaluating and understand and accept the terms, risks and conditions of the
transactions contemplated hereby, and the Commitment Party shall have no responsibility or liability to you with respect thereto, and (iii) the Commitment Party is not advising the Borrower as to any legal, tax, investment, accounting,
regulatory or any other matters in any jurisdiction, and you shall consult with your own advisors concerning such matters and you shall be responsible for making your own independent investigation and appraisal of the transactions contemplated
hereby. Any review by the Commitment Party or any of its affiliates of the Borrower, the transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Commitment Party and shall not
be on behalf of the Borrower. The Borrower agrees that it will not claim that the Commitment Party has rendered any advisory services or assert any claim against the Commitment Party based on an alleged breach of fiduciary duty by the Commitment
Party in connection with this Commitment Letter and the transactions contemplated hereby or assert any claim based on any actual or potential conflict of interest that might be asserted to arise or result from the engagement of the Commitment Party
or any of its affiliates acting as a financial advisor to the Borrower or any of its affiliates, on the one hand, and the engagement of the Commitment Party hereunder and the transactions contemplated hereby, on the other hand. 

  
 10 

 You further acknowledge that the Commitment Party is a full service securities or banking
firm engaged in securities trading and brokerage activities as well as providing investment banking and other financial services. In the ordinary course of business, the Commitment Party may provide investment banking and other financial services
to, and/or acquire, hold or sell, for its own accounts and the accounts of customers, equity, debt and other securities and financial instruments (including bank loans and other obligations) of, you and other companies with which you may have
commercial or other relationships. With respect to any securities and/or financial instruments so held by the Commitment Party or any of its customers, all rights in respect of such securities and financial instruments, including any voting rights,
will be exercised by the holder of the rights, in its sole discretion. 
 In particular, you acknowledge that JPMorgan or its affiliates may
be acting as a buy-side financial advisor to you in connection with the Transactions. You agree not to assert or allege any claim based on actual or potential conflict of interest arising or resulting from, on
the one hand, the engagement of JPMorgan or its affiliates in such capacity and our obligations hereunder, on the other hand. 
 9.
Confidentiality 
 This Commitment Letter is delivered to you on the understanding that neither this Commitment Letter, the Term
Sheets or the Fee Letter nor any of their terms or substance shall be disclosed by you, directly or indirectly, to any other person without our prior written consent (such approval not to be unreasonably withheld or delayed) except (a) to your
affiliates and your and your affiliates’ directors, officers, employees, agents and advisors who are directly involved in the consideration of this matter and for whom you shall be responsible for any breach by any one of them of this
confidentiality undertaking, (b) as may be compelled in a judicial or administrative proceeding or as otherwise required by law or to the extent requested or required by governmental and/or regulatory authorities, in each case based on the
reasonable advice of your legal counsel (in which case you agree, to the extent practicable and not prohibited by applicable law, to inform us promptly thereof), (c) following your acceptance of the provisions hereof and your return of an executed
counterpart of this Commitment Letter to the Lead Arranger as provided below, you may disclose this Commitment Letter and the contents hereof (but not the Fee Letter or the contents thereof) in any offering memoranda relating to the Facilities, in
any syndication or other marketing materials in connection with the Facilities or in connection with any public filing relating to the Transactions, (d) following your acceptance of the provisions hereof and your return of an executed
counterpart of this Commitment Letter to the Lead Arranger as provided below, you may file a copy of any portion of this Commitment Letter (but not the Fee Letter) in any public record in which it is required by law or regulation on the advice of
your counsel to be filed, (e) you may disclose, on a confidential basis, the existence and contents of this Commitment Letter, including Exhibits A through D (but not the Fee Letter) to any rating agency or any prospective Lenders to the extent
necessary to satisfy your obligations or the conditions hereunder, (f) you may disclose the aggregate fee amounts contained in the Fee Letter in financial statements or as part of Projections, pro forma information or a generic disclosure of
aggregate sources and uses related to fee amounts related to the Transactions to the extent customary or required in offering and marketing materials for the Facilities or in any public filing relating to the Transactions (which in the case of such
public filing may indicate the existence of the Fee Letter) and (g) in connection with the exercise of any remedy or enforcement 

  
 11 

 
of any right under this Commitment Letter and the Fee Letter; provided that, the foregoing restrictions shall cease to apply (except in respect of the Fee Letter and its terms and
substance) on the date that is two years after this Commitment Letter has been accepted by you; provided, further, you may disclose this Commitment Letter and the Fee Letter (redacted in a manner reasonably satisfactory to us)
to the Target, their respective subsidiaries and their officers, directors, employees, affiliates, independent auditors (but only with respect to this Commitment Letter), legal counsel and other legal advisors on a confidential basis in connection
with their consideration of the Transactions. 
 The Commitment Party will treat all information provided to it by or on behalf of you in
connection with the transactions contemplated hereby (including information regarding the Acquired Business) confidentially and shall not publish, disclose or otherwise divulge, such information; provided that nothing herein shall prevent the
Commitment Party and its affiliates from disclosing any such information (a) pursuant to the order of any court or administrative agency or in any pending legal, judicial or administrative proceeding, or otherwise as required by applicable law,
rule or regulation, subpoena or compulsory legal process or upon the request or demand of any regulatory authority (including any self-regulatory authority) or other governmental authority purporting to have jurisdiction over the Commitment Party or
any of its affiliates (in which case the Commitment Party agrees (except with respect to any audit or examination conducted by bank accountants or any self-regulatory authority or governmental or regulatory authority exercising examination or
regulatory authority), to the extent practicable and not prohibited by applicable law or regulation, to inform you promptly thereof prior to disclosure), (b) to the extent that such information becomes publicly available other than by reason of
improper disclosure by the Commitment Party or any of its affiliates in violation of any confidentiality obligations owing to you hereunder, (c) to the extent that such information is received by the Commitment Party from a third party that is
not, to the Commitment Party’s knowledge, subject to contractual or fiduciary confidentiality obligations owing to you with respect to such information, (d) to the extent that such information is independently developed by the Commitment
Party or any of its affiliates, (e) to the Commitment Party’s affiliates and their and their respective employees, directors, officers, independent auditors, rating agencies, professional advisors and other experts or agents who need to
know such information in connection with the transactions contemplated hereby and who are informed of the confidential nature of such information (with the Commitment Party responsible for its affiliates’ compliance with this paragraph), (f) in
connection with the exercise of any remedies hereunder or under the Fee Letter or any suit, action or proceeding relating to this Commitment Letter, the Fee Letter or the Facilities, and/or (g) to prospective Lenders, hedge providers,
participants or assignees (collectively, “Prospective Parties”); provided that for purposes of clause (g) above, the disclosure of any such information to any Prospective Party shall be made subject to such
Prospective Party written agreement to treat such information confidentially on substantially the terms set forth in this paragraph. If the Facilities closes, the Commitment Party’s obligations under this paragraph shall terminate and be
superseded by the confidentiality provisions in the Term Credit Documentation or the Revolving Credit Documentation, as applicable. Otherwise, the provisions of this paragraph shall expire two years after the date hereof. 

10. Miscellaneous 
 This
Commitment Letter shall not be assignable by you without the prior written consent of the Commitment Party (and any purported assignment without such consent shall be null and void), is intended to be solely for the benefit of the parties hereto and
is not intended to confer any benefits upon, or create any rights in favor of, any person other than the parties hereto. JPMorgan may assign all or a portion of its Term Commitment only to one or more prospective

  
 12 

 
Lenders that are (i) approved by you in writing (such approval not to be unreasonably withheld or delayed) or (ii) agreed upon in writing by you and us on or prior to the date hereof
(including, for the avoidance of doubt, those lenders identified in the “syndication plan” for the Term Facility agreed to by the Lead Arranger and you prior to the date hereof) (such Lenders described in clauses (i) and (ii), each, a
“Permitted Assignee”), whereupon JPMorgan shall be released from its Commitment hereunder so assigned to the extent such assignment is evidenced by either an executed credit agreement or a customary joinder agreement (a
“Joinder Agreement”) pursuant to which such Permitted Assignee agrees to become party to this Commitment Letter and agrees to extend commitments directly to the Borrower on the terms set forth herein (it being understood that
such Joinder Agreement shall not add any conditions to the availability of the Term Facility or change the terms of the Term Facility or change compensation in connection therewith except as set forth in the Commitment Letter and the Fee Letter and
shall otherwise be reasonably satisfactory to you and us). 
 This Commitment Letter may not be amended or waived except by an instrument in
writing signed by you and JPMorgan. This Commitment Letter and the Fee Letter are the only agreements that have been entered into among us with respect to the Facilities and set forth the entire understanding of the parties with respect thereto.
Each of the parties hereto agrees that each of this Commitment Letter and the Fee Letter is a binding and enforceable agreement (subject to the effects of bankruptcy, insolvency, fraudulent transfer, fraudulent conveyance, reorganization and other
similar laws relating to or affecting creditors’ rights generally) with respect to the subject matter contained herein, including the good faith negotiation of the Term Credit Documentation and the Revolving Credit Documentation by the parties
hereto in a manner consistent with this Commitment Letter; it being acknowledged and agreed that the funding of the Term Facility is subject only to the Term Funding Conditions. 

This Commitment Letter may be executed in any number of counterparts, each of which shall be an original, and all of which, when taken
together, shall constitute one agreement. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Commitment Letter, the Fee Letter and/or any document to be
signed in connection with this letter agreement and the transactions contemplated hereby shall be deemed to include Electronic Signatures (as defined below), 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 paper-based recordkeeping system, as the case may be. “Electronic Signatures” means any electronic symbol or
process attached to, or associated with, any contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record. 

This Commitment Letter shall be governed by, and construed in accordance with, the law of the State of New York; provided,
however, that, for the purposes of the Term Facility, (a) the interpretation of the definition of “Target Material Adverse Effect” (and whether or not a “Target Material Adverse Effect” has occurred or would
reasonably be expected to occur), (b) the determination of the accuracy of any Acquisition Agreement Representations and whether as a result of any inaccuracy of any Acquisition Agreement Representation there has been a failure of a condition
precedent to your (or your affiliates’) obligation to consummate the Acquisition or such failure gives you the right to terminate your (or your affiliates’) obligations under the Acquisition Agreement and (c) the determination of
whether the Acquisition has been consummated in accordance with the terms of the Acquisition Agreement shall, in each case, be governed by, and construed and interpreted in accordance with, the internal laws and judicial decisions of the State of
Delaware applicable to agreements executed and performed entirely within such State without giving effect to any choice or conflict of laws provision or rule 

  
 13 

 
(whether of the State of Delaware or any other jurisdiction) that would cause the application of laws of any jurisdiction other than the State of Delaware. The Borrower consents to the exclusive
jurisdiction and venue of the United States District Court for the Southern District of New York sitting in the Borough of Manhattan (or if such court lacks subject matter jurisdiction, the Supreme Court of the State of New York sitting in the
Borough of Manhattan). Each party hereto irrevocably waives, to the fullest extent permitted by applicable law, (a) any right it may have to a trial by jury in any legal proceeding arising out of or relating to this Commitment Letter, the Term
Sheet, the Fee Letter or the transactions contemplated hereby or thereby (whether based on contract, tort or any other theory) and (b) any objection that it may now or hereafter have to the laying of venue of any such legal proceeding in the
federal or state courts located in the City of New York, Borough of Manhattan. 
 You confirm that you have validly appointed Holdco, or if
otherwise, its principal place of business in The City of New York from time to time, as your agent for service of process, and agree that service of any process, summons, notice or document by hand delivery or registered mail upon such agent shall
be effective service of process for any suit, action or proceeding brought in any such court. 
 The Commitment Party hereby notifies the
Borrower that pursuant to the requirements of the USA Patriot Act, Title III of Pub. L. 107-56 (signed into law October 26, 2001) (the “Patriot Act”) and 31 C.F.R. § 1010.230
(the “Beneficial Ownership Regulation”), it and its affiliates are required to obtain, verify and record information that identifies the Borrower, which information includes the name, address, tax identification number and
other information regarding the Borrower that will allow the Commitment Party to identify the Borrower in accordance with the Patriot Act and the Beneficial Ownership Regulation. This notice is given in accordance with the requirements of the
Patriot Act and Beneficial Ownership Regulation and is effective for the Commitment Party and each of its affiliates. The provisions of this Commitment Letter and/or in the Fee Letter relating to compensation, limitation of liability,
indemnification, settlement, affiliate activities, sharing of information, absence of fiduciary relationships, confidentiality (other than as provided in the last sentence of Section 9 above), electronic signatures, governing law, waiver of
jury trial and waiver of objection to the laying of venue shall remain in full force and effect regardless of whether the Term Credit Documentation or Revolving Credit Documentation shall be executed and delivered and notwithstanding the termination
of this Commitment Letter and/or JPMorgan’s commitment hereunder; provided that the provisions of Section 3 and 4 shall not survive if the commitments and undertakings of the Commitment Party is terminated prior to the effectiveness
of the Facilities; provided, further that (i) (x) if the Term Facility closes and the Term Credit Documentation shall be executed and delivered, as they apply to the Term Facility, the provisions of Section 3 shall survive
only until the Syndication Date and the provisions of Section 4 shall survive only until the later of the Closing Date and the Syndication Date and (y) if the Revolving Facility closes and the Revolving Credit Documentation shall be
executed and delivered, as they apply to the Revolving Facility, the provisions of Section 3 shall survive only until the Syndication Date and the provisions of Section 4 shall survive only until the later of the Closing Date and the
Syndication Date and (ii) (x) if the Term Facility closes and the Term Credit Documentation shall be executed and delivered, the provisions under Section 7(b), to the extent covered in such definitive documentation, and the second
paragraph of Section 9 shall be superseded and deemed replaced with respect to the Term Facility by the terms of such Term Credit Documentation governing such matters and (y) if the Revolving Facility closes and the Revolving Credit
Documentation shall be executed and delivered, the provisions under Section 7(b), to the extent covered in such definitive documentation, and the second paragraph of Section 9 shall be superseded and deemed replaced with respect to the
Revolving Facility by the terms of such Revolving Credit Documentation governing such matters. You may ratably terminate each Lender’s commitments hereunder at any time subject to the provisions of the preceding sentence. 

  
 14 

 Section headings used herein are for convenience of reference only and are not to affect the
construction of, or to be taken into consideration in interpreting, this Commitment Letter. 
 If the foregoing correctly sets forth our
agreement, please indicate your acceptance of the terms of this Commitment Letter, the Term Sheets and the Fee Letter by returning to us executed counterparts of this Commitment Letter and of the Fee Letter not later than 5:00 p.m., New York City
time, on October 29, 2020 (the “Expiration Time”). JPMorgan’s commitments and agreements herein will expire at the Expiration Time in the event JPMorgan has not received, in readable form, a complete copy of each of
this Commitment Letter and the Fee Letter countersigned and dated by you, which executed counterparts are delivered in accordance with the immediately preceding sentence. The parties hereto agree that your acceptance of JPMorgan’s offer shall
only be effective if each such document has been received in such form by each of the contacts specified below prior to the Expiration Time. If you do so execute and deliver to us this Commitment Letter and the Fee Letter at or prior to the
Expiration Time, this Commitment Letter shall terminate at the earliest of (i) with respect to the Term Facility, after execution of the Acquisition Agreement and prior to the consummation of the Transactions, the termination of the Acquisition
Agreement by you in a signed writing in accordance with its terms (or your written confirmation thereof) (and you hereby agree to notify us promptly thereof), (ii) with respect to the Term Facility, the consummation of the Acquisition without the
funding of the Term Facility, (iii) (x) with respect to the Term Facility only, the execution and delivery of the Term Credit Documentation and (y) with respect to the Revolving Facility only, the execution and delivery of the Revolving
Credit Documentation, (iv) 11:59 p.m., New York City time, on the date that is five business days after the End Date (as defined in the Acquisition Agreement as of the date hereof) (with respect to the Revolving Facility, to the extent the RCF
Effective Date (as defined below) has not occurred prior to such date); provided that if the End Date (as defined in the Acquisition Agreement, as in effect on the date hereof) is extended one or more times pursuant to
Section 8.1(b) of the Acquisition Agreement (as in effect on the date hereof), such End Date shall be for purposes of this clause (iv), upon written notice of each such extension to the Lead Arranger from the Borrower, automatically extend to
five business days after each such extended date, and (v) receipt by the Commitment Party of written notice from the Borrower of its election, (x) with respect to the Term Facility, to terminate all commitments under the Term Facility in
full and (y) with respect to the Revolving Facility, to terminate all commitments under the Revolving Facility in full (such earliest time, the “Termination Date”). Upon the occurrence of any of the events referred to in
the preceding sentence, this Commitment Letter and the commitments of the Commitment Party hereunder and the agreement of the Commitment Party to provide the services described herein shall automatically terminate unless all of the Commitment
Parties shall, in their sole discretion, agree to an extension in writing. 
 JPMorgan is pleased to have been given the opportunity to
assist you in connection with this important financing. 

  
 15 

 
			
	Very truly yours,
	
	JPMORGAN CHASE BANK, N.A.
		
	By: 	 	/s/ Ryan Zimmerman
		 	Name: Ryan Zimmerman
		 	Title:   Vice President

  
 [Signature Page to
Facilities Commitment Letter] 

			
	Accepted and agreed to as of October 29, 2020, by:
	
	MARVELL TECHNOLOGY GROUP LTD.
		
	By:	 	/s/ Jean Hu
		 	Name: Jean Hu
		 	Title: Chief Financial Officer
	
	MAUI HOLDCO, INC.
		
	By:	 	/s/ Jean Hu
		 	Name: Jean Hu
		 	Title: Chief Financial Officer

  
 [Signature Page to
Facilities Commitment Letter] 

 Exhibit A 

SENIOR UNSECURED TERM FACILITY 

Summary of Terms and Conditions 

October 29, 2020 
  

 
  

	I.	 Parties 

 

					
		 	Borrower:	  	Initially, Marvell Technology Group Ltd., a Bermuda exempt company, and on and after the Closing Date, Holdco, a Delaware corporation (the “Borrower”).
			
		 	Guarantors:	  	From the Closing Date, all obligations of the Borrower under the Term Facility will be unconditionally guaranteed by (a) Maui so long as Maui is the issuer, borrower or guarantor of indebtedness for borrowed money
(including, for the avoidance of doubt, Maui’s existing unsecured notes) in an aggregate outstanding principal amount in excess of $100.0 million and (b) Target so long as Target is the issuer, borrower or guarantor of indebtedness
for borrowed money (including, for the avoidance of doubt, Target’s existing convertible notes) in an aggregate outstanding principal amount in excess of $100.0 million; provided that the existing convertible notes of the Target
shall be deemed not to be outstanding for the purpose of this clause (b) until the date that is 90 days following the Closing Date. In the event that the conditions requiring the guarantee by Maui or Target, as applicable, are no longer
satisfied, the Borrower may request, and the Term Administrative Agent (as defined below) and the Term Lenders (as defined below) agree to, release Maui and/or Target, as applicable, from such guarantee.
			
		 	Sole Lead Arranger and Sole Bookrunner:	  	JPMorgan Chase Bank, N.A. (“JPMorgan” and in such capacity, the “Term Lead Arranger”).
			
		 	Administrative Agent:	  	JPMorgan (in such capacity, the “Term Administrative Agent”).
			
		 	Lenders:	  	A syndicate of banks, financial institutions and other entities, including JPMorgan, arranged by the Term Lead Arranger in accordance with the Commitment Letter (collectively, the “Term
Lenders”).

  
 Exhibit A-1 

	II.	 Term Facility 

 

					
		 	Type and Amount of Term Facility:	  	 A senior unsecured term loan facility (the “Term Facility”) in the amount of up to $1,500,000,000, consisting of
(i) a $750,000,000 3-year tranche term loan facility (the “3-Year Tranche”, the loans thereunder, the “3-Year Tranche Term Loans”) and (ii) a $750,000,000 5-year tranche term loan facility (the “5-Year
Tranche”, the loans thereunder, the “5-Year Tranche Term Loans” and together with the 3-Year Tranche Term Loans, the
“Term Loans”).
  
 Each of the
3-Year Tranche and 5-Year Tranche are referred to herein as a “Tranche”.

			
		 	Availability:	  	Each Tranche of the Term Facility shall be available in a single draw on the Closing Date. Any amount borrowed under the Term Facility and repaid or prepaid may not be reborrowed.
			
		 	Maturity:	  	3-Year Tranche Term Loans will mature on the date that is three years after the Closing Date. 5-Year Tranche Term Loans will mature on the date that
is five years after the Closing Date.
			
		 	Purpose:	  	The proceeds of the Term Loans shall be used by the Borrower (i) to pay all or a portion of the Acquisition Cash Consideration and (ii) to pay the Transaction
Costs.

  

	III.	 Certain Payment Provisions 

 

					
		 	Fees and Interest Rates:	  	As set forth on Annex I.
			
		 	Amortization:	  	 3-Year Tranche Term Loans: none.

 
 Commencing at the end of the first full fiscal quarter of the Borrower after the Closing
Date, 5-Year Tranche Term Loans will amortize in equal quarterly installments at a per annum rate of (i) 5.0% of the aggregate principal amount of 5-Year Tranche Loans
incurred by the Borrower on the Closing Date for the first 4 full quarters following the Closing Date, (ii) 10.0% of the aggregate principal amount of 5-Year Tranche Loans incurred by the Borrower on the
Closing Date for the fifth through twelfth full quarters following the Closing Date and (iii) 15.0% of the aggregate principal amount of 5-Year Tranche Loans incurred by the Borrower on the Closing Date for
the each quarter thereafter.

			
		 	Optional Prepayments and Commitment Reductions:	  	Term Loans may be prepaid at any time in whole or in part and commitments may be reduced or terminated by the Borrower at any time, in each case without premium or penalty and in minimum amounts to be agreed upon.
			
		 		  	Voluntary prepayments of 5-Year Tranche Term Loans shall be applied to the scheduled installments of principal of the 5-Year Tranche on a pro rata basis.

  
 Exhibit A-2 

					
		 	Mandatory Prepayments:	  	None.
			
		 		  	The commitments under the Term Facility shall terminate on the earliest of (i) the termination of the Acquisition Agreement by the Borrower in a signed writing in accordance with its terms (or the Borrower’s written
confirmation thereof) (and the Borrower agrees to notify the Term Lead Arranger promptly thereof), (ii) the consummation of the Acquisition without the funding of the Term Facility and (iii) the date that is five business days after the End Date (as
defined in the Acquisition Agreement as of the date hereof); provided that if the End Date (as defined in the Acquisition Agreement, as in effect on the date hereof) is extended one or more times pursuant to Section 8.1(b) of the Acquisition
Agreement (as in effect on the date hereof), such End Date shall be for purposes of this clause (iii), upon written notice of each such extension to the Term Lead Arranger from the Borrower, automatically extended to five business days after each
such extended date, and (iv) receipt by the Term Lenders of written notice from the Borrower of its election to terminate all commitments under the Term Facility in full.

 

	IV.	 Certain Documentation Matters 

 

					
		 		  	The Term Credit Documentation shall contain representations, warranties, covenants and events of default substantially similar to the Existing Credit Agreement (as in effect on the date hereof) with such modifications (i) as are
necessary to reflect the terms specifically set forth herein (including the nature of the Term Facility as a “term facility”) and in the Fee Letter, including the Limited Conditionality Provision, (ii) as are mutually agreed to take into
account the operational and strategic requirements of the Borrower and its subsidiaries (after giving effect to the Transactions) in light of their size, total assets, geographic locations, industry (and risks and trends associated therewith),
businesses, business practices, operations, financial accounting and the Projections, (iii) to reflect any changes in law or accounting standard since the date of the Existing Credit Agreement, (iv) to reflect the operational or administrative
requirements of the Term Administrative Agent, (v) modifications reflected on Exhibit D hereto, solely to the extent such modifications are also incorporated into the Revolving Facility, (vi) other modifications to be mutually agreed
(collectively, the “Term Documentation Principles”).

  
 Exhibit A-3 

					
			
		 	Representations and Warranties:	  	Subject to the Term Documentation Principles, substantially similar to the Existing Credit Agreement (as in effect on the date hereof) (including with respect to exceptions, baskets and materiality qualifiers) with such
modifications as may be agreed among the parties, and limited to the following: (i) organization, powers, (ii) authorization, enforceability, (iii) governmental approvals, absence of conflicts, (iv) financial condition, no
material adverse change, (v) properties, (vi) litigation and environmental matters, (vii) compliance with laws, and maintenance of effective compliance policies and procedures regarding anti-corruption and sanctions laws,
(viii) investment company status, (ix) taxes, (x) ERISA, (xi) solvency (to be defined in a manner substantially the same as set forth on Annex I to Exhibit B attached hereto), (xii) disclosure, (xiii) federal reserve regulations,
(xiv) use of proceeds as stated and in a manner not in violation of federal reserve regulations, applicable sanctions laws or anti-corruption laws (including FCPA), (xv) ranking of obligations, (xvi) choice of law provisions,
(xvii) no immunity, (xviii) proper form, no recordation, (xix) EEA financial institutions and (xx) Beneficial Ownership Regulation.
			
		 	Affirmative Covenants:	  	Subject to the Term Documentation Principles, substantially similar to the Existing Credit Agreement (as in effect on the date hereof) (including with respect to exceptions, baskets and materiality qualifiers) with such
modifications as may be agreed among the parties, including the following: (i) financial statements and other information; (ii) notices of material events; (iii) existence; conduct of business; maintenance of properties;
(iv) payment of taxes; (v) insurance; (vi) books and records, inspection rights; (vii) compliance with laws; and (viii) use of proceeds (including not in violation of applicable anti-corruption laws and sanctions).
			
		 	Financial Covenant:	  	Subject to the Term Documentation Principles, commencing with the first fiscal quarter ended after the Closing Date, a maximum leverage ratio of 4.75 to 1.00 with step-downs to (i) from and after the fiscal quarter ending
March 31, 2022, 4.50 to 1.00, (ii) from and after the fiscal quarter ending September 30, 2022, 4.25 to 1.00, (iii) from and after the fiscal quarter ending March 31, 2023, 4.00 to 1.00, (iv) from and after the fiscal quarter ending
September 30, 2023, 3.50 to 1.00 and (iv) from and after the fiscal quarter ending March 31, 2024 and thereafter, 3.25 to 1.00, to be calculated in a manner substantially similar to the Existing Credit Agreement as in effect on the
date hereof (the “Financial Covenant”).
			
		 	Negative Covenants:	  	Subject to the Term Documentation Principles, substantially similar to the Existing Credit Agreement (as in effect on the date hereof) (including with respect to exceptions, baskets and materiality qualifiers) with such
modifications as may be agreed among the parties, including the following (except to the extent modified or removed pursuant to clause (v) of the Term

  
 Exhibit A-4 

					
		 		  	Documentation Principles): restrictions on (i) subsidiary indebtedness (it being understood that the existing pari passu indebtedness of Maui and Target shall be expressly permitted without being counted as utilization of
the general basket set forth therein), (ii) liens, (iii) sale and leaseback transactions, (iv) mergers and other fundamental changes (which shall expressly permit the Acquisition and the Transactions), (v) business of borrower and
subsidiaries and (vi) restrictive agreements.
			
		 	Events of Default:	  	Subject to the Term Documentation Principles, substantially similar to the Existing Credit Agreement (as in effect on the date hereof) (including with respect to exceptions, baskets and materiality qualifiers) with such
modifications as may be agreed among the parties including (i) nonpayment of principal, interest, fees or other amounts when due, (ii) accuracy of representations in any material respects, (iii) failure to perform or observe covenants
set forth in the Term Credit Documentation, (iv) cross defaults to other material indebtedness, (v) bankruptcy and insolvency defaults, (vi) material monetary judgments, (vii) ERISA events, (viii) change of control and
(ix) invalidity of any guarantee required by the Term Credit Documentation.
			
		 	Voting:	  	Amendments and waivers with respect to the Term Credit Documentation shall require the approval of Term Lenders holding not less than 50% of the aggregate amount of the Term Loans, except that (a) the consent of each Term
Lender affected thereby shall be required with respect to (i) extensions of the scheduled date of final maturity of any Term Loan, (ii) reductions in the principal amount, rate of interest or any fee or extensions of any due date thereof,
(iii) increases in the amount or extensions of the expiry date of any Term Lender’s commitment, (iv) changes to the pro rata sharing provisions and (v) releases of guarantee of Maui or Target (except as contemplated by the Term
Credit Documentation), (b) the consent of 100% of the Term Lenders shall be required with respect to modifications to any of the voting percentages and (c) amendments or waivers that adversely affect Term Lenders in one Tranche differently than
Term Lenders in another Tranche will require the approval of the Term Lenders holding the majority of Term Loans or commitments under each Tranche which is adversely and differently affected thereby.
			
		 	Assignments and Participations:	  	Prior to the Closing Date, the Term Lenders will be permitted to assign commitments under the Term Facility on terms substantially consistent with the first paragraph of Section 10 of the Commitment Letter. From and after
the Closing Date, the Term Lenders shall be permitted to assign all or a portion of their loans and commitments with the consent, not to be

  
 Exhibit A-5 

					
		 		  	unreasonably withheld, conditioned or delayed, of (a) the Borrower, unless (i) the assignee is a Term Lender, an affiliate of a Term Lender or an approved fund or (ii) a payment or bankruptcy Event of Default has
occurred and is continuing, provided that, the Borrower shall be deemed to have consented to an assignment of Term Loans unless it shall have objected thereto by written notice to the Term Administrative Agent within ten (10) business
days after having received notice thereof and (b) the Term Administrative Agent, unless Term Loans are being assigned to a Term Lender, an affiliate of a Term Lender or an approved fund. In the case of partial assignments (other than to another
Term Lender, to an affiliate of a Term Lender or an approved fund), the minimum assignment amount shall be $1,000,000, in the case of Term Loans, unless a lesser amount shall be agreed by the Borrower and the Term Administrative Agent.
			
		 		  	The Term Lenders shall also be permitted to sell participations in their Loans. Participants shall have the same benefits as the Term Lenders with respect to yield protection and increased cost provisions. Voting rights of
participants shall be limited to those matters with respect to which the affirmative vote of the Term Lender from which it purchased its participation would be required as described under “Voting” above. Pledges of Loans in accordance with
applicable law shall be permitted without restriction.
			
		 		  	No assignments or participations shall be permitted to be made to natural persons.
			
		 	Yield Protection:	  	The Term Credit Documentation shall contain customary provisions (a) protecting the Term Lenders against increased costs or loss of yield resulting from changes in reserve, tax, capital adequacy and other requirements of law
and from the imposition of or changes in withholding or other taxes and (b) indemnifying the Term Lenders for “breakage costs” incurred in connection with, among other things, any prepayment of a Eurodollar Loan (as defined in Annex
I) on a day other than the last day of an interest period with respect thereto. The Dodd-Frank Wall Street Reform and Consumer Protection Act and Basel III (and all requests, rules, guidelines or directives relating to each of the foregoing or
issued in connection therewith) shall be deemed to be changes in law after the Closing Date regardless of the date enacted, adopted or issued.
			
		 	Limitation of Liability, Expenses and Indemnity:	  	Subject to the limitations consistent with those set forth in Section 7(a) of the Commitment Letter to which this Exhibit A is attached, as applicable, the Term Administrative Agent, the Term Lead Arranger and the Term
Lenders (and their affiliates

  
 Exhibit A-6 

					
		 		  	and their respective officers, directors, employees, advisors and agents) shall not have any Liabilities, on any theory of liability, for any special, indirect, consequential or punitive damages incurred by the Borrower or any of
its subsidiaries arising out of, in connection with, or as a result of, the Term Facility or the Term Credit Documentation. As used herein, the term “Liabilities” shall mean any losses, claims (including intraparty claims),
demands, damages or liabilities of any kind.
			
		 		  	Subject to the limitations consistent with those set forth in Section 7(b) of the Commitment Letter to which this Exhibit A is attached, as applicable, the Borrower shall pay (a) all reasonable out-of-pocket expenses of the Term Administrative Agent and the Term Lead Arranger associated with the syndication of the Term Facility and the preparation, execution,
delivery and administration of the Term Credit Documentation and any amendment, modification or waiver with respect thereto (including the reasonable fees, disbursements and other charges of counsel) and (b) all
out-of-pocket expenses of the Term Administrative Agent and the Term Lenders (including the fees, disbursements and other charges of counsel) in connection with the
enforcement of the Term Credit Documentation.
			
		 		  	Subject to the limitations consistent with those set forth in Section 7(b) of the Commitment Letter to which this Exhibit A is attached, as applicable, the Term Administrative Agent, the Term Lead Arranger and the Term
Lenders (and their respective affiliates and their respective officers, directors, employees, advisors and agents) (each a “Indemnified Person”) will be indemnified and held harmless against, any Liabilities or expenses
(including the fees, disbursements and other charges of counsel) incurred by such Indemnified Person in connection with or as a result of (i) the execution and delivery of the Term Credit Documentation and any agreement or instrument
contemplated thereby; (ii) the funding of the Term Facility, or the use or the proposed use of proceeds thereof; (iii) any act or omission of the Term Administrative Agent in connection with the administration of the Term Credit
Documentation; and (iv) any actual or prospective claim, litigation, investigation, arbitration or administrative, judicial or regulatory action or proceeding (each, a “Proceeding”) in any jurisdiction relating to any of
the foregoing (including in relation to enforcing the terms of the limitation of liability and indemnification referred to above), regardless of whether or not any Indemnified Person is a party thereto and whether or not such Proceeding is brought
by the Borrower, its affiliates or equity holders or any other party; provided that such indemnification shall not, as to any Indemnified Person, be available to the extent that such Liabilities or expenses are determined by a court of
competent jurisdiction by final and

  
 Exhibit A-7 

					
		 		  	nonappealable judgment to have resulted primarily from the gross negligence, bad faith or willful misconduct of such Indemnified Person in performing its activities or in furnishing its commitments or services under the Term
Credit Documentation.
			
		 	EU/UK Bail-in:	  	The Term Credit Documentation shall contain customary European Union/United Kingdom Bail-in provisions.
			
		 	ERISA Fiduciary Status:	  	The Term Credit Documentation shall contain Term Lender representations as to fiduciary status under ERISA.
			
		 	Delaware Divisions:	  	The Term Credit Documentation shall contain customary provisions related to divisions and plans of division under Delaware law.
			
		 	Governing Law:	  	State of New York; provided, however, that (a) the interpretation of the definition of “Target Material Adverse Effect” (and whether or not a “Target Material Adverse Effect” has occurred or
would reasonably be expected to occur), (b) the determination of the accuracy of any Acquisition Agreement Representations and whether as a result of any inaccuracy of any Acquisition Agreement Representation there has been a failure of a condition
precedent to the Borrower’s (or its affiliates’) obligation to consummate the Acquisition or such failure gives the Borrower the right to terminate its (or its affiliates’) obligations under the Acquisition Agreement and (c) the
determination of whether the Acquisition has been consummated in accordance with the terms of the Acquisition Agreement shall, in each case, be governed by, and construed and interpreted in accordance with, the internal laws and judicial decisions
of the State of Delaware applicable to agreements executed and performed entirely within such State without giving effect to any choice or conflict of laws provision or rule (whether of the State of Delaware or any other jurisdiction) that would
cause the application of laws of any jurisdiction other than the State of Delaware.
			
		 	Forum:	  	United States District Court for the Southern District of New York sitting in the Borough of Manhattan (or if such court lacks subject matter jurisdiction, the Supreme Court of the State of New York sitting in the Borough of
Manhattan), and any appellate court from any thereof.
			
		 	Counsel to the Term Administrative
Agent and the Term Lead Arranger:	  	Davis Polk & Wardwell LLP.

  
 Exhibit A-8 

 Annex I 

Interest and Certain Fees 
  

													
		
	Interest Rate Options:	  	 The Borrower may elect that the Term Loans comprising each borrowing bear interest at a rate per annum equal to:

 
 the ABR plus the Applicable ABR Margin; or

 
 the Adjusted LIBO Rate plus the Applicable LIBO Margin.

		
		  	As used herein:
		
		  	“ABR” means the highest of (i) the rate of interest last quoted by The Wall Street Journal in the U.S. as the prime rate in effect (the “Prime Rate”), (ii) the NYFRB
Rate from time to time plus 0.5% and (iii) the Adjusted LIBO Rate for a one-month interest period plus 1%. If the ABR as determined pursuant to the foregoing would be less than 1.00%, such
rate shall be deemed to be 1.00%.
		
		  	“Adjusted LIBO Rate” means the LIBO Rate, as adjusted for statutory reserve requirements for eurocurrency liabilities.
		
		  	“Applicable LIBO Margin” means, with respect to each Tranche of Term Loans, a percentage determined in accordance with the pricing grid set forth immediately below:
							
	            	  	 	  	 Pricing
Level I
	  	 Pricing
Level II
	  	 Pricing
Level III
	  	 Pricing
Level IV
	  	 Pricing
Level V

	  	 	  	
3BBB+/
Baa1/BBB+
	  	 BBB/
Baa2/BBB
	  	
BBB-/
Baa3/BBB-
	  	 BB+/
Ba1/BB+
	  	
£BB/
Ba2/BB

	  	 3-Year Tranche
	  	1.000%	  	1.125%	  	1.250%	  	1.750%	  	2.000%
	  	 5-Year Tranche
	  	1.125%	  	1.250%	  	1.375%	  	2.000%	  	2.250%
		
		  	The foregoing pricing shall be based on the senior, unsecured non-credit enhanced long-term indebtedness for borrowed money of (x) prior to the assignment of such ratings for
Holdco, Maui and (y) thereafter, Holdco, in each case, issued by Moody’s, S&P and Fitch (the “Public Debt Ratings”). Split ratings shall be addressed in a manner consistent with the Existing Credit
Agreement.
		
		  	“Applicable ABR Margin” means a percentage equal to the greater of (i) 0% and (ii) the Applicable LIBO Margin minus 1.0%.

  
 Exhibit A-9 

					
			
		 		  	“Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions, as determined in such manner as the NYFRB shall
set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the federal funds effective rate, provided that if the Federal Funds Effective Rate shall be less than zero, such rate shall
be deemed to zero for the purposes of calculating such rate.
			
		 		  	“Interpolated Rate” means, at any time, for any interest period, the rate per annum (rounded to the same number of decimal places as the LIBO Screen Rate) determined by the Term Administrative Agent
(which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBO Screen Rate for the longest period (for which the LIBO Screen Rate is
available) that is shorter than the Impacted Interest Period; and (b) the LIBO Screen Rate for the shortest period (for which that LIBO Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such time.
			
		 		  	“LIBO Rate” means, with respect to any Eurodollar Borrowing for any interest period, the LIBO Screen Rate at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such
interest period; provided that if the LIBO Screen Rate shall not be available at such time for such interest period (an “Impacted Interest Period”) then the LIBO Rate shall be the Interpolated Rate.
			
		 		  	“LIBO Screen Rate” means, for any day and time, with respect to any Eurodollar Borrowing for any interest period, the London interbank offered rate as administered by ICE Benchmark Administration (or any
other Person that takes over the administration of such rate) for U.S. Dollars for a period equal in length to such interest period as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate
does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Term
Administrative Agent in its reasonable discretion); provided that if the LIBO Screen Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of calculating such rate.
			
		 		  	“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate in effect on such day; provided that if
any of the aforesaid rates shall be less than zero, such rate shall be deemed to zero for the purposes of calculating such rate.
			
		 		  	“Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar Borrowings by U.S.-managed banking offices of depository institutions, as such
composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall
commence to publish such composite rate).

  
 Exhibit A-10 

													
		
		  	The Term Credit Documentation will contain provisions to be mutually agreed with respect to a replacement of the LIBO Rate.
		
		  	Interest Payment Dates:In the case of Loans bearing interest based upon the ABR (“ABR Loans”), quarterly in arrears.
		
		  	In the case of Loans bearing interest based upon the Adjusted LIBO Rate (“Eurodollar Loans”), on the last day of each relevant interest period and, in the case of any interest period longer than
three months, on each successive date three months after the first day of such interest period.
		
	Default Rate:	  	At any time when the Borrower is in default in the payment of any amount of principal due under the Term Facility, such amount shall bear interest at 2% above the rate otherwise applicable thereto. Overdue interest,
fees and other amounts shall bear interest at 2% above the rate applicable to ABR Loans.
		
	Undrawn Fee:	  	The Borrower will pay a fee (the “Undrawn Fee”), for the ratable benefit of the Term Lenders, in an amount equal to a percentage determined in accordance with the pricing grid set forth
immediately below (the “Undrawn Fee Pricing Grid”) of the undrawn portion of the commitments in respect of each Tranche the Term Facility from and including the day that is 90 days following the execution of the Commitment
Letter and to but excluding the Fee Payment Date, which fee shall be payable upon the Fee Payment Date (or earlier termination of the commitments with respect to the Term Facility). For the purposes hereof, “Fee Payment Date”
means the earlier of (i) termination or expiration of the commitments under the Term Facility and (ii) the Closing Date.
							
	        	  	 	  	 Pricing
Level I
	  	 Pricing
Level II
	  	 Pricing
Level III
	  	 Pricing
Level IV
	  	 Pricing
Level V

	  	 	  	 3
BBB+/
Baa1/BBB+
	  	 BBB/
Baa2/BBB
	  	 BBB-/
Baa3/BBB-
	  	 BB+/
Ba1/BB+
	  	
£BB/
Ba2/BB

	  	 3-Year Tranche
	  	0.125%	  	0.150%	  	0.200%	  	0.250%	  	0.350%
	  	 5-Year Tranche
	  	0.150%	  	0.200%	  	0.250%	  	0.300%	  	0.400%
		
		  	The foregoing pricing shall be based on the Public Debt Ratings. Split ratings shall be addressed in a manner consistent with the Existing Credit Agreement.
		
	Rate and Fee Basis:	  	All per annum rates shall be calculated on the basis of a year of 360 days (or 365/366 days, in the case of ABR Loans the interest rate payable on which is then based on the Prime Rate) for actual days
elapsed.

  
 Exhibit A-11 

 Exhibit B 

CONDITIONS PRECEDENT TO THE TERM FACILITY 

Capitalized terms not otherwise defined herein have the same meanings as specified therefor in the Commitment Letter to which this Exhibit B is attached. 

The Term Facility Effective Date and the initial borrowing under the Term Facility, as applicable, will be subject to the following additional conditions
precedent (subject to the Limited Conditionality Provision): 
 (i) The Acquisition shall be consummated substantially concurrently with the
initial funding under the Term Facility in accordance with the Acquisition Agreement and the Acquisition Agreement shall not have been amended or modified, and no condition shall have been waived or consent granted, in any respect that is materially
adverse to the Term Lenders or the Term Lead Arranger without the Term Lead Arranger’s prior written consent; provided that (i) increases in the Acquisition Common Stock Consideration and, if funded with equity, increases in the
Acquisition Cash Consideration shall not be deemed to be materially adverse to the interests of the Term Lenders and the Term Lead Arranger and shall not require the consent of the Term Lead Arranger, (ii) decreases of less than 10% in the
Acquisition Consideration shall not be deemed to be materially adverse to the interests of the Term Lenders or the Term Lead Arranger and shall not require the consent of the Term Lead Arranger so long as any such reduction in Acquisition Cash
Consideration shall reduce dollar-for-dollar the commitments in respect of the Term Facility, (iii) decreases of more than 10% in the Acquisition Consideration
shall be deemed to be materially adverse to the interests of the Term Lenders or the Term Lead Arranger and shall require the consent of the Term Lead Arranger; and (iv) any amendment to the definition of “Material Adverse Effect on the
Company” as defined in the Acquisition Agreement (as in effect on the date hereof) shall be deemed to be materially adverse to the interests of the Term Lenders and the Term Lead Arranger; provided, further that, for the avoidance
of doubt, any increases or decreases in the amount of newly issued shares of common stock of the Borrower received by the existing equity holders of the Target as the Acquisition Common Stock Consideration that result in accordance with the
application of the Exchange Ratio (as in effect and defined in the Acquisition Agreement on the date hereof and without any amendment, modification or waiver thereof), shall not be materially adverse to the interest of the Term Lenders and the Term
Lead Arranger and shall not require the consent of the Term Lead Arranger. 
 (ii) The Term Lead Arranger shall have received for each of
the Borrower (which such statements may be of Maui) and the Target (a) U.S. GAAP audited consolidated balance sheets and related statements of income (and/or operations), stockholders’(or shareholders’) equity and cash flows for the
three most recent fiscal years ended at least 60 days prior to the Closing Date and (b) U.S. GAAP unaudited consolidated balance sheets and related statements of income (and/or operation), stockholders’ (or shareholders’) equity and
cash flows for each subsequent fiscal quarter ended at least 40 days before the Closing Date, which financial statements shall meet in all material respects the requirements of Regulation S-X under the
Securities Act of 1933, as amended, and all other accounting rules and regulations of the SEC promulgated thereunder applicable to a registration statement under such Act on Form S-3, provided
that the Borrower’s (or Maui’s) and the Target’s public filing of any required financial statements with the SEC shall constitute delivery of such financial statements to the Term Lead Arranger. The Term Lead Arranger acknowledges
receipt of (i) the audited financing statements of Maui for the fiscal years ended February 3, 2018, February 2, 2019 and February 1, 2020, (ii) the audited financing statements of Target or the fiscal years ended
December 31, 2017, 

  
 Exhibit B-1 

 
December 31, 2018 and December 31, 2019, (iii) the unaudited consolidated balance sheets and related statements of income (and/or operation), stockholders’ (or shareholders’)
equity and cash flows of (x) Maui for each fiscal quarter through August 1, 2020 and (y) Target for each fiscal quarter through June 30, 2020. 

(iii) The Term Lead Arranger shall have received a pro forma consolidated balance sheet of the Borrower and the Target as of the last day of
the most recently completed fiscal quarter period of Maui for which financial statements have been delivered pursuant to paragraph (ii) above and pro forma consolidated income (and/or operations) statements for the most recent fiscal year and
most recent interim period, in each case, of Maui, delivered pursuant to paragraph (ii) above, prepared after giving effect to the Transactions as if the Transactions had occurred as of the last day of the pro forma financial statements
delivered (in the case of such balance sheet) or at the beginning of the pro forma financial statements delivered (in the case of the income or operations statement), which pro forma financial statements shall meet in all material respects the
requirements of Regulation S-X under the Securities Act of 1933, as amended, and all other accounting rules and regulations of the SEC promulgated thereunder applicable to a registration statement under such
Act on Form S-3; provided that the Borrower’s (or Maui’s) and the Target’s public filing of any required pro forma financial statements with the SEC shall constitute delivery of such
financial statements to the Term Lead Arranger. 
 (iv) (A) The Term Administrative Agent shall have received (x) on or prior to the
Term Facility Effective Date, customary legal opinions, corporate organizational documents, good standing certificates, resolutions and other customary closing certificates, and (y) prior to the Closing Date, a borrowing notice, (B) the
Acquisition Agreement Representations shall be true and correct as of the Closing Date and the Specified Representations shall be true and correct in all material respects as of the Closing Date and (C) as of the Closing Date, there shall not
be any continuing event of default (limited to violation of negative covenant with respect to fundamental changes, payment defaults and bankruptcy defaults) under the Term Credit Documentation. 

(v) The Term Administrative Agent shall have received a solvency certificate from the chief financial officer of the Borrower in the form
attached as Annex I hereto dated as of the Closing Date. 
 (vi) The Term Lead Arranger, the Term Administrative Agent and the Term
Lenders shall have received all fees and invoiced expenses required to be paid on or prior to the Closing Date pursuant to the Fee Letter or Commitment Letter and solely with respect to expenses, to the extent invoiced at least three (3) days
prior to the Closing Date. 
 (vii) The Term Lead Arranger shall have received at least three business days prior to the Term Facility
Effective Date, to the extent reasonably requested at least ten business days prior to the Term Facility Effective Date, all documentation and other information required by regulatory authorities under applicable “know your customer” and
anti-money laundering rules and regulations, including, without limitation, the PATRIOT Act and the Beneficial Ownership Regulation. 

  
 Exhibit C-2 

 Annex I 

TO EXHIBIT B 
 FORM OF

 SOLVENCY CERTIFICATE 

[             ], 202[_] 

This Solvency Certificate is delivered pursuant to Section [ ] of the Credit Agreement dated as of
[                ], 202[_], among [                ] (the “Credit
Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 

The undersigned hereby certifies, solely in his capacity as an officer of the Borrower and not in his individual capacity, as follows: 

1. I am the [Chief Financial Officer] of the Borrower. I am familiar with the Transactions and have reviewed the Credit Agreement,
financial statements referred to in Section [__] of the Credit Agreement and such documents and made such investigation as I deemed relevant for the purposes of this Solvency Certificate. 

2. As of the date hereof, immediately after giving effect to the consummation of the Transactions, on and as of such date (i) the fair
value of the assets of the Borrower and its subsidiaries on a consolidated basis, at a fair valuation on a going concern basis, will exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of the Borrower and its
subsidiaries on a consolidated basis; (ii) the present fair saleable value of the property of the Borrower and its subsidiaries on a consolidated and going concern basis will be greater than the amount that will be required to pay the probable
liability of the Borrower and its subsidiaries on a consolidated basis on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured in the ordinary course of
business; (iii) the Borrower and its subsidiaries on a consolidated basis will be able to pay their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured in the ordinary
course of business; and (iv) the Borrower and its subsidiaries on a consolidated basis will not have unreasonably small capital with which to conduct the businesses in which they are engaged as such businesses are now conducted and are proposed
to be conducted following the Closing Date. 
 This Solvency Certificate is being delivered by the undersigned officer only in his capacity
as [Chief Financial Officer] of the Borrower and not individually and the undersigned shall have no personal liability to the Administrative Agent or the Lenders with respect thereto. 

  
 Annex I-1 

 IN WITNESS WHEREOF, the undersigned has executed this Solvency Certificate on the date first
written above. 
  

			
	MAUI HOLDCO, INC.

 
			
		
	By: 	 	 

 
			
	Name:	 	
	Title:	 	[Chief Financial Officer]

  
 Annex I-2 

 Exhibit C 

SENIOR UNSECURED REVOLVING FACILITY 

Summary of Terms and Conditions 

October 29, 2020 
  

 
  

					
	I.	  	Parties	  	
			
		  	Borrower:	  	Initially, Marvell Technology Group Ltd., a Bermuda exempt company, and on and after the Closing Date, Holdco, a Delaware corporation (the “Borrower”).
			
		  	Guarantors:	  	From the Closing Date, all obligations of the Borrower under the Revolving Facility will be unconditionally guaranteed by (a) Maui so long as Maui is the issuer, borrower or guarantor of indebtedness for borrowed money
(including, for the avoidance of doubt, Maui’s existing unsecured notes) in an aggregate outstanding principal amount in excess of $100.0 million and (b) Target so long as Target is the issuer, borrower or guarantor of indebtedness
for borrowed money (including, for the avoidance of doubt, Target’s existing convertible notes) in an aggregate outstanding principal amount in excess of $100.0 million; provided that the existing convertible notes of the Target
shall be deemed not to be outstanding for the purpose of this clause (b) until the date that is 90 days following the Closing Date. In the event that the conditions requiring the guarantee by Maui or Target, as applicable, are no longer
satisfied, the Borrower may request, and the Revolving Administrative Agent (as defined below) and the Revolving Lenders (as defined below) agree to, release Maui and/or Target, as applicable, from such guarantee.
			
		  	Lead Arrangers and Bookrunners:	  	JPMorgan Chase Bank, N.A. and other financial institutions appointed in accordance with the Commitment Letter (“JPMorgan” and in such capacity, the “Revolving Lead
Arranger”).
			
		  	Administrative Agent:	  	A financial institution appointed in accordance with the Commitment Letter.
			
		  	Lenders:	  	A syndicate of banks, financial institutions and other entities, including JPMorgan, arranged by the Revolving Lead Arranger in accordance with the Commitment Letter (collectively, the “Revolving
Lenders”).

  
 Exhibit C-1 

					
	II.	 	Revolving Facility
			
		 	Type and Amount of Revolving Facility:	  	Five-year senior unsecured revolving loan facility (the “Revolving Facility”) in the amount of up to $750,000,000 (the loans thereunder, the “Revolving Loans”).
			
		 	Availability:	  	The Revolving Facility shall be available on a revolving basis during the period commencing on the RCF Effective Date (as defined below) and ending on the Maturity Date.
			
		 	Maturity:	  	The Revolving Facility will mature on the date that is five years after the RCF Effective Date (the “Maturity Date”).
			
		 	Purpose:	  	The proceeds of the Revolving Loans shall be used by the Borrower for working capital in the ordinary course of business and for general corporate purposes.
		
	III.	 	Certain Payment Provisions
			
		 	Fees and Interest Rates:	  	As set forth on Annex I.
			
		 	Amortization:	  	None.
			
		 	Optional Prepayments and Commitment Reductions:	  	Revolving Loans may be prepaid at any time in whole or in part and commitments may be reduced or terminated by the Borrower at any time, in each case without premium or penalty and in minimum amounts to be agreed upon. Revolving
Loans prepaid may be reborrowed.
			
		 	Mandatory Prepayments:	  	None.
			
		 	Conditions Precedent to the RCF Effective Date:	  	The availability of the Revolving Facility shall be conditioned upon (i) termination in full of the “Revolving Commitments” under the Existing Credit Agreement and receipt by the Revolving Lead Arranger of customary
documentary evidence thereof and (ii) satisfaction of conditions precedent substantially consistent with those contained in Section 4.01 of the Existing Revolving Credit Agreement (the date upon which all such conditions precedent shall be
satisfied, the “RCF Effective Date”).
			
		 	Conditions Precedent to Borrowings on and after the RCF Effective Date:	  	Borrowings under the Revolving Facility on or after the RCF Effective Date will be subject to conditions precedent substantially consistent with those contained in Section 4.03 of the Existing Revolving Credit Agreement, as
applicable.

  
 Exhibit C-2 

					
	IV.	  	Certain Documentation Matters
			
		  		  	The Revolving Credit Documentation shall contain representations, warranties, covenants and events of default substantially similar to the Existing Credit Agreement (as in effect on the date hereof) with such modifications (i) as
are necessary to reflect the terms specifically set forth herein (including the nature of the Revolving Facility as a “revolving facility”) and in the Fee Letter, (ii) as are mutually agreed to take into account the operational and
strategic requirements of the Borrower and its subsidiaries (after giving effect to the Transactions) in light of their size, total assets, geographic locations, industry (and risks and trends associated therewith), businesses, business practices,
operations, financial accounting and the Projections, (iii) to reflect any changes in law or accounting standard since the date of the Existing Credit Agreement, (iv) to reflect the operational or administrative requirements of the Revolving
Administrative Agent, (v) modifications reflected on Exhibit D hereto, (vi) other modifications to be mutually agreed (collectively, the “Revolving Documentation Principles”).
			
		  	 Representations and Warranties:
	  	Subject to the Revolving Documentation Principles, substantially similar to the Existing Credit Agreement (as in effect on the date hereof) (including with respect to exceptions, baskets and materiality qualifiers) with such
modifications as may be agreed among the parties, and limited to the following: (i) organization, powers, (ii) authorization, enforceability, (iii) governmental approvals, absence of conflicts, (iv) financial condition, no material adverse change,
(v) properties, (vi) litigation and environmental matters, (vii) compliance with laws, and maintenance of effective compliance policies and procedures regarding anti-corruption and sanctions laws, (viii) investment company status, (ix) taxes, (x)
ERISA, (xi) solvency (to be defined in a manner substantially the same as set forth on Annex I to Exhibit B attached hereto), (xii) disclosure, (xiii) federal reserve regulations, (xiv) use of proceeds as stated and in a manner not in violation of
federal reserve regulations, applicable sanctions laws or anti-corruption laws (including FCPA), (xv) ranking of obligations, (xvi) choice of law provisions, (xvii) no immunity, (xviii) proper form, no recordation, (xix) EEA financial institutions
and (xx) Beneficial Ownership Regulation.

  
 Exhibit C-3 

					
			
		 	Affirmative Covenants:	  	Subject to the Revolving Documentation Principles, substantially similar to the Existing Credit Agreement (as in effect on the date hereof) (including with respect to exceptions, baskets and materiality qualifiers) with such
modifications as may be agreed among the parties, including the following: (i) financial statements and other information; (ii) notices of material events; (iii) existence; conduct of business; maintenance of properties;
(iv) payment of taxes; (v) insurance; (vi) books and records, inspection rights; (vii) compliance with laws; and (viii) use of proceeds (including not in violation of applicable anti-corruption laws and sanctions).
			
		 	Financial Covenant:	  	 Subject to the Revolving Documentation Principles, commencing with the first fiscal quarter ended after the RCF Effective Date, a maximum
leverage ratio of 3.00 to 1.00, which shall exclude any indebtedness incurred prior to the Closing Date to finance the Acquisition, pending the consummation thereof; provided that (a) the proceeds thereof shall be held in a segregated
account of the Borrower and other funds of the Borrower and its subsidiaries shall not be comingled in any material respect with the funds so held in such account and (b) either (x) the release of the proceeds thereof shall be contingent upon
the substantially simultaneous consummation of the Acquisition (and, if the Acquisition Agreement is terminated in accordance with its terms or is otherwise not consummated by the outside date specified in the definitive documentation relating to
such indebtedness, as such may be extended in accordance with its terms, such proceeds shall be promptly applied to satisfy and discharge all obligations in respect of such indebtedness) or (y) such indebtedness contains a “special
mandatory redemption” provision (or other similar provision) if the Acquisition is not consummated by the outside date specified in the definitive documentation relating to such indebtedness as such may be extended in accordance with its terms
(and if the Acquisition is terminated in accordance with its terms prior to its consummation or is otherwise not consummated by the outside date specified in the definitive documentation relating to such indebtedness, as such may be extended in
accordance with its terms, such indebtedness is so redeemed promptly after such termination or such specified date, as the case may be), to be otherwise calculated in a manner substantially similar to the Existing Credit Agreement as in effect on
the date hereof.
  
 Subject to the Revolving Documentation Principles, commencing with
the first fiscal quarter ended after the Closing Date (or, with respect to any pro forma calculation required to be made on or after the Closing Date, commencing with the Closing Date), a maximum leverage ratio of 4.75 to 1.00 with step-downs to
(i) from and after the fiscal quarter ending March 31, 2022, 4.50 to 1.00, (ii) from and after the fiscal quarter ending September 30, 2022, 4.25 to 1.00, (iii) from and after the fiscal quarter ending March 31, 2023, 4.00 to
1.00, (iv) from and after the fiscal quarter ending September 30, 2023, 3.50 to 1.00 and (v) from and after the fiscal quarter ending March 31, 2024 and thereafter, 3.25 to 1.00, to be calculated in a manner substantially similar to
the Existing Credit Agreement as in effect on the date hereof (the “Financial Covenant”).

  
 Exhibit C-4 

					
			
		  	Negative Covenants:	  	Subject to the Revolving Documentation Principles, substantially similar to the Existing Credit Agreement (as in effect on the date hereof) (including with respect to exceptions, baskets and materiality qualifiers) with such
modifications as may be agreed among the parties, including the following: restrictions on (i) subsidiary indebtedness (it being understood that the existing pari passu indebtedness of Maui and Target shall be expressly permitted without being
counted as utilization of the general basket set forth therein), (ii) liens, (iii) sale and leaseback transactions, (iv) mergers and other fundamental changes (which shall expressly permit the Acquisition and the Transactions) and (v) business of
borrower and subsidiaries.
			
		  	Events of Default:	  	Subject to the Revolving Documentation Principles, substantially similar to the Existing Credit Agreement (as in effect on the date hereof) (including with respect to exceptions, baskets and materiality qualifiers) with such
modifications as may be agreed among the parties including (i) nonpayment of principal, interest, fees or other amounts when due, (ii) accuracy of representations in any material respects, (iii) failure to perform or observe covenants set forth in
the Revolving Credit Documentation, (iv) cross defaults to other material indebtedness, (v) bankruptcy and insolvency defaults, (vi) material monetary judgments, (vii) ERISA events, (viii) change of control and (ix) invalidity of any guarantee
required by the Revolving Credit Documentation.
			
		  	Voting:	  	Amendments and waivers with respect to the Revolving Credit Documentation shall require the approval of Revolving Lenders holding not less than 50% of the aggregate amount of the Revolving Loans, except that (a) the consent of each
Revolving Lender affected thereby shall be required with respect to (i) extensions of the scheduled date of final maturity of any Revolving Loan, (ii) reductions in the principal amount, rate of interest or any fee or extensions of any due date
thereof, (iii) increases in the amount or extensions of the expiry date of any Revolving Lender’s commitment, (iv) changes to the pro rata sharing provisions and (v) releases of guarantee of Maui or Target (except as contemplated by the
Revolving Credit Documentation), and (b) the consent of 100% of the Revolving Lenders shall be required with respect to modifications to any of the voting percentages.

  
 Exhibit C-5 

					
			
		 	Assignments and Participations:	  	The Revolving Lenders shall be permitted to assign all or a portion of their loans and commitments with the consent, not to be unreasonably withheld, conditioned or delayed, of (a) the Borrower, unless (i) the assignee is
a Revolving Lender, an affiliate of a Revolving Lender or an approved fund or (ii) a payment or bankruptcy Event of Default has occurred and is continuing, provided that, the Borrower shall be deemed to have consented to an assignment of
Revolving Loans unless it shall have objected thereto by written notice to the Revolving Administrative Agent within ten (10) business days after having received notice thereof and (b) the Revolving Administrative Agent, unless Revolving
Loans are being assigned to a Revolving Lender, an affiliate of a Revolving Lender or an approved fund. In the case of partial assignments (other than to another Revolving Lender, to an affiliate of a Revolving or an approved fund), the minimum
assignment amount shall be $1,000,000, in the case of Revolving Loans, unless a lesser amount shall be agreed by the Borrower and the Revolving Administrative Agent.
			
		 		  	The Revolving Lenders shall also be permitted to sell participations in their Loans. Participants shall have the same benefits as the Revolving Lenders with respect to yield protection and increased cost provisions. Voting rights of
participants shall be limited to those matters with respect to which the affirmative vote of the Revolving Lender from which it purchased its participation would be required as described under “Voting” above. Pledges of Loans in accordance
with applicable law shall be permitted without restriction.
			
		 		  	No assignments or participations shall be permitted to be made to natural persons.
			
		 	Yield Protection:	  	The Revolving Credit Documentation shall contain customary provisions (a) protecting the Revolving Lenders against increased costs or loss of yield resulting from changes in reserve, tax, capital adequacy and other requirements
of law and from the imposition of or changes in withholding or other taxes and (b) indemnifying the Revolving Lenders for “breakage costs” incurred in connection with, among other things, any prepayment of a Eurodollar Loan (as
defined in Annex I) on a day other than the last day of an interest period with respect thereto. The Dodd-Frank Wall Street Reform and Consumer Protection Act and Basel III (and all requests, rules, guidelines or directives relating to each of the
foregoing or issued in connection therewith) shall be deemed to be changes in law after the Closing Date regardless of the date enacted, adopted or issued.

  
 Exhibit C-6 

					
			
		 	Limitation of Liability, Expenses and Indemnity:	  	Subject to the limitations consistent with those set forth in Section 7(a) of the Commitment Letter to which this Exhibit A is attached, as applicable, the Revolving Administrative Agent, the Revolving Lead Arranger and the
Revolving Lenders (and their affiliates and their respective officers, directors, employees, advisors and agents) shall not have any Liabilities, on any theory of liability, for any special, indirect, consequential or punitive damages incurred by
the Borrower or any of its subsidiaries arising out of, in connection with, or as a result of, the Revolving Facility or the Revolving Credit Documentation. As used herein, the term “Liabilities” shall mean any losses, claims
(including intraparty claims), demands, damages or liabilities of any kind.
			
		 		  	Subject to the limitations consistent with those set forth in Section 7(b) of the Commitment Letter to which this Exhibit A is attached, as applicable, the Borrower shall pay (a) all reasonable out-of-pocket expenses of the Revolving Administrative Agent and the Revolving Lead Arranger associated with the syndication of the Revolving Facility and the preparation,
execution, delivery and administration of the Revolving Credit Documentation and any amendment, modification or waiver with respect thereto (including the reasonable fees, disbursements and other charges of counsel) and (b) all out-of-pocket expenses of the Revolving Administrative Agent and the Revolving Lenders (including the fees, disbursements and other charges of counsel) in connection with the
enforcement of the Revolving Credit Documentation.
			
		 		  	Subject to the limitations consistent with those set forth in Section 7(b) of the Commitment Letter to which this Exhibit A is attached, as applicable, the Revolving Administrative Agent, the Revolving Lead Arranger and the
Revolving Lenders (and their respective affiliates and their respective officers, directors, employees, advisors and agents) (each an “Indemnified Person”) will be indemnified and held harmless against, any Liabilities or
expenses (including the fees, disbursements and other charges of counsel) incurred by such Indemnified Person in connection with or as a result of (i) the execution and delivery of the Revolving Credit Documentation and any agreement or
instrument contemplated thereby; (ii) the funding of the Revolving Facility, or the use or the proposed use of proceeds thereof; (iii) any act or omission of the Revolving Administrative Agent in connection with the administration of the
Revolving Credit Documentation; and (iv) any actual or prospective claim, litigation, investigation, arbitration or administrative, judicial or regulatory action or proceeding (each, a “Proceeding”) in any jurisdiction
relating to any of the foregoing (including in relation to enforcing the terms of the limitation of liability and indemnification referred to above), regardless of whether or not any Indemnified Person is a party thereto and whether or not such
Proceeding is brought by the Borrower, its affiliates or equity holders or any other party;

  
 Exhibit C-7 

					
		 		  	provided that such indemnification shall not, as to any Indemnified Person, be available to the extent that such Liabilities or expenses are determined by a court of competent jurisdiction by final and nonappealable judgment
to have resulted primarily from the gross negligence, bad faith or willful misconduct of such Indemnified Person in performing its activities or in furnishing its commitments or services under the Revolving Credit Documentation.
			
		 	EU/UK Bail-in:	  	The Revolving Credit Documentation shall contain customary European Union/United Kingdom Bail-in provisions.
			
		 	ERISA Fiduciary Status:	  	The Revolving Credit Documentation shall contain Revolving Lender representations as to fiduciary status under ERISA.
			
		 	Delaware Divisions:	  	The Revolving Credit Documentation shall contain customary provisions related to divisions and plans of division under Delaware law.
			
		 	Governing Law:	  	State of New York.
			
		 	Forum:	  	United States District Court for the Southern District of New York sitting in the Borough of Manhattan (or if such court lacks subject matter jurisdiction, the Supreme Court of the State of New York sitting in the Borough of
Manhattan), and any appellate court from any thereof.
			
		 	Counsel to the
Revolving
Administrative Agent
and the Revolving Lead Arranger:	  	

Davis Polk & Wardwell LLP.

  
 Exhibit C-8 

 Annex I 

Interest and Certain Fees 
  

					
		 	Interest Rate Options:	  	 The Borrower may elect that the Revolving Loans comprising each borrowing bear interest at a rate per annum equal to:

 
 the ABR plus the Applicable ABR Margin; or

 
 the Adjusted LIBO Rate plus the Applicable LIBO
Margin.

			
		 		  	 As used herein:
  

“ABR” means the highest of (i) the rate of interest last quoted by The Wall Street Journal in the U.S. as the prime rate in effect
(the “Prime Rate”), (ii) the NYFRB Rate from time to time plus 0.5% and (iii) the Adjusted LIBO Rate for a one month interest period plus 1%. If the ABR as determined pursuant to the foregoing would be less
than 1.00%, such rate shall be deemed to be 1.00%.
  
 “Adjusted LIBO
Rate” means the LIBO Rate, as adjusted for statutory reserve requirements for eurocurrency liabilities.
  

“Applicable LIBO Margin” means a percentage determined in accordance with the pricing grid set forth immediately below:

  

									
	Pricing
Level I	 	Pricing
Level II	 	Pricing
Level III	 	Pricing
Level IV	 	Pricing
Level V
	3BBB+/
Baa1/BBB+	 	BBB/
Baa2/BBB	 	BBB-/
Baa3/BBB-	 	BB+/
Ba1/BB+	 	£BB/
Ba2/BB
	1.125%	 	1.250%	 	1.500%	 	2.000%	 	2.250%

  

					
			
		 		 	The foregoing pricing shall be based on the Public Debt Ratings. Split ratings shall be addressed in a manner consistent with the Existing Credit Agreement.
			
		 		 	“Applicable ABR Margin” means a percentage equal to the greater of (i) 0% and (ii) the Applicable LIBO Margin minus 1.0%.
			
		 		 	“Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions, as determined in such manner as the NYFRB
shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the federal funds effective rate, provided that if the Federal Funds Effective Rate shall be less than zero, such rate
shall be deemed to zero for the purposes of calculating such rate.

  
 Exhibit C-9 

					
			
		 		 	“Interpolated Rate” means, at any time, for any interest period, the rate per annum (rounded to the same number of decimal places as the LIBO Screen Rate) determined by the Revolving Administrative
Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBO Screen Rate for the longest period (for which the LIBO Screen Rate
is available) that is shorter than the Impacted Interest Period; and (b) the LIBO Screen Rate for the shortest period (for which that LIBO Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such
time.
			
		 		 	“LIBO Rate” means, with respect to any Eurodollar Borrowing for any interest period, the LIBO Screen Rate at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such interest
period; provided that if the LIBO Screen Rate shall not be available at such time for such interest period (an “Impacted Interest Period”) then the LIBO Rate shall be the Interpolated Rate.
			
		 		 	“LIBO Screen Rate” means, for any day and time, with respect to any Eurodollar Borrowing for any interest period, the London interbank offered rate as administered by ICE Benchmark Administration (or any
other Person that takes over the administration of such rate for U.S. Dollars) for a period equal in length to such interest period as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate
does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the
Revolving Administrative Agent in its reasonable discretion); provided that if the LIBO Screen Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of calculating such rate.
			
		 		 	“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate in effect on such day; provided that if any of the
aforesaid rates shall be less than zero, such rate shall be deemed to zero for the purposes of calculating such rate.
			
		 		 	“Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar Borrowings by U.S.-managed banking offices of depository institutions, as such
composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall
commence to publish such composite rate).
			
		 		 	The Revolving Credit Documentation will contain provisions to be mutually agreed with respect to a replacement of the LIBO Rate.

  
 Exhibit C-10 

					
			
		  		  	Interest Payment Dates: In the case of Loans bearing interest based upon the ABR (“ABR Loans”), quarterly in arrears.
			
		  		  	In the case of Loans bearing interest based upon the Adjusted LIBO Rate (“Eurodollar Loans”), on the last day of each relevant interest period and, in the case of any interest period longer than three months,
on each successive date three months after the first day of such interest period.
			
		  	Default Rate:	  	At any time when the Borrower is in default in the payment of any amount of principal due under the Revolving Facility, such amount shall bear interest at 2% above the rate otherwise applicable thereto. Overdue interest, fees and
other amounts shall bear interest at 2% above the rate applicable to ABR Loans.
			
		  	Commitment Fee:	  	Commencing on the RCF Effective Date, the Borrower will pay a fee (the “Commitment Fee”) to the Revolving Administrative Agent for the benefit of the Revolving Lenders in an amount equal a rate
per annum set forth in the pricing grid immediately below times the actual daily undrawn portion of the aggregate principal (i.e., face) amount of the commitments in respect of the Revolving Facility (subject to any reduction of
commitments under the Revolving Facility), payable quarterly.

  

									
	Pricing
Level I	  	Pricing
Level II	 	Pricing
Level III	 	Pricing
Level IV	 	Pricing
Level V
	3BBB+/
Baa1/BBB+	  	BBB/
Baa2/BBB	 	BBB-/
Baa3/BBB-	 	BB+/
Ba1/BB+	 	£BB/
Ba2/BB
	0.125%	  	0.150%	 	1.750%	 	0.300%	 	0.350%

  

					
			
		  		  	The foregoing pricing shall be based on the Public Debt Ratings. Split ratings shall be addressed in a manner consistent with the Existing Credit Agreement.
			
		  	Rate and Fee Basis:	  	All per annum rates shall be calculated on the basis of a year of 360 days (or 365/366 days, in the case of ABR Loans the interest rate payable on which is then based on the Prime Rate) for actual days elapsed.

  
 Exhibit C-11 

 Exhibit D 

CERTAIN MODIFICATIONS TO EXISTING CREDIT AGREEMENT 
  

					
	 	 	 Existing Credit Agreement Provision
	  	 Modification

		 	Consolidated EBITDA definition	  	Replace reference in clause (iii)(A) to “Cavium Acquisition” with a reference to the Acquisition
			
		 	Material Subsidiary definition	  	Revise to limit to subsidiaries that would constitute “significant subsidiaries” under Reg S-X
			
		 	Permitted Subsidiary Indebtedness	  	 •  Revise to permit all debt at closing up to $25M (without need to schedule)
subject to an aggregate amount for all such debt to be agreed
  

•  Include dollar floor on general basket equal to (i) prior to the Closing Date,
$300.0 million and (ii) on and after the Closing Date, $400.0 million
  

•  Existing Maui bonds and Palau notes to be specifically permitted

 
 •  Additionally permit any
guarantees by guarantors under the Facilities provided in respect of pari passu indebtedness

			
		 	General Lien Basket	  	Include dollar floor on general basket equal to (i) prior to the Closing Date, $300.0 million and (ii) on and after the Closing Date, $400.0 million
			
		 	Fundamental Changes / Mergers	  	Specifically permit the Acquisition
			
		 	Restrictive Agreements Covenant	  	Remove
			
		 	Leverage Ratio	  	Covenant level to be revised as set forth in Exhibits A or C, as applicable
			
		 	Permitted Reorganization	  	To be revised to reflect the Transactionsrila280contract

     [Home Office:               [Service Center:   1  Corporate Way            P.O. Box 24068   Lansing,  Michigan 48951    Lansing, MI 48909-4068      1-800-644-4565] www.jackson.com]                               Jackson National Life Insurance Company®      Thank you for choosing Jackson National Life Insurance Company, also referred to as "the   Company" or "Jackson®."                              READ YOUR CONTRACT CAREFULLY.      This annuity contract is issued by the Company and is a legal agreement between the Owner   ("You") and Jackson.      PLEASE NOTE THAT THIS CONTRACT HAS REFERENCES TO AND UTILIZATION OF   EXTERNAL INDEXES. WHILE THE CONTRACT VALUES MAY BE AFFECTED BY THE   EXTERNAL INDEXES, THE CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY   STOCK OR EQUITY INVESTMENTS. AN INDEX ADJUSTMENT TO THE INDEX ACCOUNT   IS NOT GUARANTEED AND MAY VARY BASED UPON THE PERFORMANCE OF THE   INDEXES.      THE WITHDRAWAL VALUE AVAILABLE UNDER THIS CONTRACT IS EQUAL TO THE   CONTRACT VALUE LESS ANY APPLICABLE WITHDRAWAL CHARGE.      NOTICE OF RIGHT TO EXAMINE CONTRACT   YOU MAY RETURN THIS CONTRACT TO THE FINANCIAL PROFESSIONAL WHO SOLD   YOU THE CONTRACT OR THE COMPANY WITHIN [10] DAYS AFTER YOU RECEIVE IT   ([30] DAYS AFTER YOU RECEIVE IT IF IT WAS PURCHASED AS A REPLACEMENT   CONTRACT). THE COMPANY WILL REFUND THE PREMIUM PAID TO THE FIXED   ACCOUNT, LESS THE AMOUNT OF ANY PARTIAL WITHDRAWALS FROM THE FIXED   ACCOUNT, PLUS THE INDEX ACCOUNT VALUE WITHOUT DEDUCTION FOR ANY FEES   AND CHARGES. RETURNED CONTRACTS ARE VOID.      The Telephone Number for the [Issue State] Department of Insurance is [Insurance Department   telephone number].   INDIVIDUAL SINGLE PREMIUM DEFERRED              This Contract is signed by the Company REGISTERED INDEX-LINKED ANNUITY.  DEATH BENEFIT AVAILABLE.  INCOME OPTION AVAILABLE.  NON-PARTICIPATING.  CONTAINS PROVISIONS WAIVING  WITHDRAWAL CHARGES.                                                                                President                                                                                  Secretary    RILA280 

 

                                TABLE OF CONTENTS                       Provision Page Number                Contract Data Pages                                          [3a                Definitions                                                    4                General Provisions                                             8                Contract Option Provisions                                    12                Withdrawal Provisions                                         14                Death Benefit Provisions                                      20                Income Provisions                                             23                Termination Provisions                                       26]          If You have questions about this Contract or require information about coverage or complaint  resolutions, You may contact the Company's Service Center identified on the Contract's cover  page.            RILA280 2 

 

                              CONTRACT DATA PAGES     Contract Number:                   [1234567890]       Owner: [John Doe]       Owner Issue Age:                   [45]       Joint Owner:                       [No Joint Owner]       Joint Owner Issue Age:             [N/A]       Annuitant: [John Doe]       Annuitant Issue Age:               [45]       Joint Annuitant:                   [No Joint Annuitant]       Joint Annuitant Issue Age:         [N/A]       Issue Date:                        [January 15, 2021]       Issue State:                       [MI]       Premium Amount:                    [$25,000]       Income Date:                       [January 15, 2071]       Primary Beneficiary(ies):          [Brian Doe]       Contingent Beneficiary(ies):       [Jane Doe]                                              RILA280-CB1 3a 

 

                        CONTRACT DATA PAGES (CONT'D)    FIXED ACCOUNT INFORMATION:    Fixed Account Minimum Interest Rate (FAMIR): [1.00%]    Fixed Account Minimum Value Percentage: [87.50%]    Fixed Account Minimum Value Annual Expense Allowance: [$50]    INTEREST RATE FOR ADJUSTMENTS DUE TO MISSTATEMENT OF AGE OR SEX: [1.00%]    WITHDRAWALS:    Withdrawal Charge Schedule:                                      Contract      Withdrawal Charge                                     Year            Percentage                                       [1 8.00%                                      2 8.00%                                      3 7.00%                                      4 6.00%                                      5 5.00%                                      6 4.00%                                      7+ 0.00%]                                            Please see Withdrawal Provisions for complete explanation of the determination of Withdrawal  Charges.     Minimum partial withdrawal amount unless as a scheduled part of an automatic  withdrawal program: [$500]    Minimum partial withdrawal amount as a scheduled part of an automatic withdrawal  program: [$50]    Minimum Contract Value remaining after a partial withdrawal: [$2,000]    Free Withdrawal Percentage: [10%]       RILA280-CB1 3b 

 

                        CONTRACT DATA PAGES (CONT'D)    Waiver of Withdrawal Charge Due to Terminal Illness Eligibility Date: [October 1, 2021]    Waiver of Withdrawal Charge Due to Terminal Illness Maximum Amount: [100%] of the  Contract Value, not to exceed [$250,000]    Waiver of Withdrawal Charge for Extended Care Eligibility Date: [October 1, 2021]    Waiver of Withdrawal Charge for Extended Care Maximum Amount: [100%] of the Contract  Value, not to exceed [$250,000]    PREMIUM:    Premium is money paid into this Contract for allocation into a Contract Option. This is a single  Premium Contract. The Company may waive minimum and maximum Premium at any time, on  a nondiscriminatory basis.     Minimum Premium:           [$25,000]    Maximum Premium:           [$1,000,000]    SEPARATE ACCOUNT:    [RILA Separate Account]    RILA280-CB1 3c 

 

                                                    CONTRACT DATA PAGES (CONT'D)                                                                                                                                  TABLE OF INCOME OPTIONS                      The following table shows income values for each $1,000 of net proceeds applied to the Income           Option.                        UNDER OPTION 4                                             MONTHLY INSTALLMENTS UNDER OPTIONS 1 OR 3                                                                                                                                                                                                                                                                                         No. of   Monthly   Age of        No. of Mos.      Age of        No. of Mos.        Age of         No. of Mos.       Age of         No. of Mos.  Monthly    Install- Annui-         Certain         Annui-          Certain          Annui-          Certain          Annui-          Certain   Install-  ments     tant                           tant                              tant                            tant   ments                       Male Life 120 240 Male                  Life    120 240 Female Life 120 240 Female                         Life    120 240    60       17.09      40     2.33 2.32 2.31          68      4.72    4.57 4.02        40      2.22 2.22 2.21           68      4.36    4.26 3.86    72       14.31      41     2.37 2.36 2.35          69      4.90    4.72 4.09        41      2.26 2.26 2.25           69      4.52    4.40 3.94    84       12.33      42     2.41 2.41 2.39          70      5.09    4.89 4.16        42      2.30 2.30 2.29           70      4.69    4.55 4.02    96       10.84      43     2.45 2.45 2.43          71      5.31    5.06 4.23        43      2.34 2.34 2.32           71      4.87    4.70 4.09    108       9.68      44     2.50 2.50 2.47          72      5.54    5.24 4.29        44      2.38 2.38 2.36           72      5.06    4.87 4.16    120       8.76      45     2.55 2.54 2.52          73      5.79    5.43 4.34        45      2.42 2.42 2.40           73      5.28    5.04 4.22    132       8.00      46     2.60 2.59 2.56          74      6.06    5.63 4.39        46      2.47 2.47 2.45           74      5.51    5.23 4.28    144       7.37      47     2.65 2.64 2.61          75      6.35    5.83 4.43        47      2.52 2.51 2.49           75      5.76    5.42 4.34    156       6.84      48     2.71 2.70 2.66          76      6.67    6.04 4.47        48      2.57 2.56 2.54           76      6.03    5.62 4.38    168       6.38      49     2.77 2.76 2.71          77      7.02    6.26 4.50        49      2.62 2.61 2.59           77      6.33    5.83 4.43    180       5.98      50     2.83 2.82 2.76          78      7.40    6.48 4.52        50      2.67 2.67 2.64           78      6.65    6.04 4.46    192       5.64      51     2.89 2.88 2.82          79      7.81    6.70 4.54        51      2.73 2.72 2.69           79      7.01    6.26 4.49    204       5.33      52     2.96 2.94 2.88          80      8.27    6.92 4.56        52      2.79 2.78 2.74           80      7.40    6.48 4.52    216       5.06      53     3.03 3.01 2.94          81      8.76    7.13 4.57        53      2.85 2.84 2.80           81      7.83    6.70 4.54    228       4.82      54     3.10 3.08 3.00          82      9.30    7.34 4.58        54      2.92 2.91 2.85           82      8.29    6.92 4.56    240       4.60      55     3.18 3.16 3.06          83      9.89    7.53 4.58        55      2.99 2.98 2.91           83      8.80    7.13 4.57    252       4.40      56     3.26 3.23 3.13          84     10.54 7.72 4.59           56      3.07 3.05 2.98           84      9.35    7.33 4.58    264       4.22      57     3.35 3.32 3.19          85     11.26 7.88 4.59           57      3.14 3.12 3.04           85      9.95    7.52 4.58    276       4.06      58     3.44 3.40 3.26          86     12.05 8.03 4.59           58      3.23 3.20 3.11           86      10.59 7.70 4.59    288       3.90      59     3.54 3.49 3.34          87     12.91 8.17 4.59           59      3.31 3.29 3.18           87      11.28 7.87 4.59    300       3.77      60     3.64 3.59 3.41          88     13.86 8.28 4.60           60      3.40 3.37 3.25           88      12.03 8.02 4.59    312       3.64      61     3.74 3.69 3.48          89     14.88 8.38 4.60           61      3.50 3.46 3.32           89      12.84 8.15 4.59    324       3.52      62     3.86 3.79 3.56          90     15.99 8.46 4.60           62      3.60 3.56 3.40           90      13.71 8.27 4.60    336       3.41      63     3.98 3.91 3.64          91     17.17 8.53 4.60           63      3.71 3.66 3.47           91      14.66 8.37 4.60    348       3.31      64     4.11 4.02 3.71          92     18.43 8.58 4.60           64      3.82 3.77 3.55           92      15.70 8.45 4.60    360       3.21      65     4.24 4.15 3.79          93     19.78 8.63 4.60           65      3.95 3.88 3.63           93      16.86 8.53 4.60                        66     4.39 4.28 3.87          94     21.20 8.66 4.60           66      4.07 4.00 3.71           94      18.13 8.58 4.60                        67     4.55 4.42 3.95          95     22.67 8.68 4.60           67      4.21 4.12 3.79           95      19.53 8.63 4.60                                 Note: Due to the volume of relevant information, the Table does not provide income values for           Option 2 described in the Income Provisions. Those values are available from the Company's           Service Center upon request. You may contact the Company's Service Center as shown on the           cover page of the Contract.                      BASIS OF COMPUTATION. The [2012 Individual Annuity Mortality Period Table, with an           interest rate of 1.00% and a 0% expense load], provides the actuarial basis for the Table of           Income Options. The Table of Income Options does not include any applicable tax.             RILA280-CB1 3d 

 

                                      DEFINITIONS    ANNUITANT. The natural person(s) so designated on the Contract Data Pages, or by  subsequent designation, on whose life the Company determines the amount of Income  Payments provided by the Contract. References to the Annuitant include all Joint Annuitants, if  applicable.    BENEFICIARY(IES). The natural person(s) or legal entity(ies) You designate as Primary or  Contingent Beneficiary(ies) to receive any death benefit provided by the Contract. The initial  Beneficiary(ies) are shown on the Contract Data Pages.    BUSINESS DAY. Any day that the Company and the New York Stock Exchange (NYSE) are  open for business. The Business Day ends when the NYSE closes for the day.    CONTRACT. The Individual Single Premium Deferred Registered Index-Linked Annuity  described herein.    CONTRACT ANNIVERSARY. Each one-year anniversary of the Issue Date.    CONTRACT OPTION(S). The Contract Options for this Contract are the Fixed Account and the  Index Account.     CONTRACT VALUE. The Contract Value is equal to the sum of the Fixed Account value and  the Index Account value. See the Contract Option Provisions for details of how the Fixed  Account value and Index Account value are determined.     CONTRACT YEAR. The twelve-month period beginning on the Issue Date and on any Contract  Anniversary thereafter while the Contract remains in force.    CREDITING METHOD. A method of calculating the Index Adjustment. See the Supplemental  Contract Data Pages and Crediting Method Endorsements for details.     DUE PROOF. Evidence of death, including but not limited to a certified death certificate issued  by the governmental authority for the location of the death, or other lawful evidence the  Company requires.    FIXED ACCOUNT. A Contract Option in which amounts earn a declared rate of interest for a  certain period.    FIXED ACCOUNT MINIMUM INTEREST RATE (FAMIR). The Fixed Account Minimum Interest  Rate is the minimum annual percentage at which Your money allocated to the Fixed Account  will grow. The Company uses this rate to determine the Fixed Account Minimum Value (FAMV).  The FAMIR is shown on the Contract Data Pages and is guaranteed for the life of the Contract.    RILA280 4 

 

                                DEFINITIONS (CONT'D)    FIXED ACCOUNT MINIMUM VALUE (FAMV). The FAMV is equal to all amounts allocated to  the Fixed Account, net of applicable taxes, multiplied by the Fixed Account Minimum Value  Percentage, and;  1.  reduced by partial withdrawals and transfers from the Fixed Account, after being reduced      for any applicable Withdrawal Charges, and the Fixed Account Minimum Value Annual      Expense Allowance; then  2.  accumulated at the FAMIR.    FIXED ACCOUNT MINIMUM VALUE ANNUAL EXPENSE ALLOWANCE. An annual  deduction from the FAMV. On each Contract Anniversary, the Company will deduct the Fixed  Account Minimum Value Annual Expense Allowance from the FAMV. The Fixed Account  Minimum Value Annual Expense Allowance is shown on the Contract Data Pages.    FIXED ACCOUNT MINIMUM VALUE PERCENTAGE. The Fixed Account Minimum Value  Percentage is multiplied by Premiums and transfers allocated to the Fixed Account in the  determination of the FAMV. The Fixed Account Minimum Value Percentage is shown on the  Contract Data Pages.    GOOD ORDER. The Company's receipt of all Premium, information, documentation, and/or  instructions the Company requires before it will issue the Contract, credit any interest, or  execute any transaction.     INCOME DATE. The date on which Income Payments are scheduled to begin as described in  the Income Provisions. The Income Date is shown on the Contract Data Pages.    INCOME OPTION. Payment options as provided under the Income Provisions.     INDEX(ES). A benchmark used to determine the Index Adjustment, if any, for a particular Index  Account Option. See the Supplemental Contract Data Pages for the available Indexes as of the  Issue Date.     INDEX ACCOUNT. A Contract Option in which amounts are subject to an Index Adjustment for  a specified period of time. See the Supplemental Contract Data Pages and Crediting Method  Endorsements for detailed descriptions of the Index Account Options within the Index Account.  Index Account Option availability is subject to change at the discretion of the Company on a  non-discriminatory basis.    INDEX ACCOUNT OPTION. An option within the Index Account for allocation of Contract  Value. Each Index Account Option is defined by its term, Index and Crediting Method.    INDEX ACCOUNT OPTION ANNIVERSARY. The Business Day concurrent with or immediately  following each anniversary of the Issue Date.    RILA280 5 

 

                                DEFINITIONS (CONT'D)    INDEX ACCOUNT OPTION TERM ANNIVERSARY. The Business Day concurrent with or  immediately following the end of an Index Account Option term.    INDEX ADJUSTMENT (IA). The adjustment amount to an Index Account Option on the Index  Account Option Term Anniversary. This adjustment can be positive or negative, depending on  Index performance and Crediting Method.    INDEX ADJUSTMENT FACTOR(S). Parameters used to determine the Index Adjustment.  These parameters are specific to the applicable Crediting Method(s). See the Supplemental  Contract Data Pages and Crediting Method endorsements for additional details.    INTERIM VALUE. The quantity used to adjust the Index Account Option value for withdrawals  prior to the end of the Index Account Option term. The Interim Value uses prorated Index  Adjustment Factors based on the elapsed portion of the Index Account Option term and the  Interim Value Proration Factor (IVPF). For detailed information on the Interim Value, see the  Crediting Method endorsements and the Supplemental Contract Data Pages.    ISSUE DATE. The date the Company issued the Contract. The Issue Date is shown on the  Contract Data Pages.    JOINT ANNUITANT. Each of multiple Annuitants.    JOINT OWNER. Each of multiple Owners.    LATEST INCOME DATE (LID). The Contract Anniversary on which You will be 95 years old, or  such earlier date required by a Qualified Plan, law or regulation.    NON-QUALIFIED PLAN. A retirement plan which does not qualify for favorable tax treatment  under Sections 401, 403, 408, or 408A of the Internal Revenue Code, as amended.    OWNER ("YOU," "YOUR"). The natural person(s) or legal entity(ies) that has all rights under  the Contract, and is shown on the Contract Data Pages, or by subsequent designation. In this  Contract, "You" and "Your" also mean the Owner. References to the Owner include all Joint  Owners, if applicable.    PREMIUM. Money paid into this Contract for allocation into the Contract Options.    REMAINING PREMIUM. Total Premium paid into the Contract reduced by withdrawals of  Premium, before the withdrawal is adjusted for any charges, including Withdrawal Charges.    QUALIFIED PLAN. A retirement plan which qualifies for favorable tax treatment under Sections  401, 403, 408, or 408A of the Internal Revenue Code, as amended.    RILA280 6 

 

                                DEFINITIONS (CONT'D)    REQUIRED MINIMUM DISTRIBUTION (RMD). For certain Qualified Plan contracts, the RMD is  the amount defined by the Internal Revenue Code and the implementing regulations as the  minimum distribution requirement that applies to this Contract only.    SERVICE CENTER. The Company's administrative address and telephone number as identified  on the Contract's cover page or as the Company may designate from time to time.    WITHDRAWAL CHARGE. A charge assessed against certain withdrawals from the Fixed  Account and/or the Index Account Option(s). The Withdrawal Charge Schedule is shown on the  Contract Data Pages.    WITHDRAWAL VALUE. The amount available upon a total withdrawal. The Withdrawal Value is  equal to the Contract Value, less any applicable Withdrawal Charge.    RILA280 7 

 

                               GENERAL PROVISIONS    ANNUITANT. You may change the Annuitant at any time before the Income Date, unless the  Contract is owned by a legal entity. If the Contract is owned by a legal entity, the Company will  use the oldest Annuitant's age for all Contract purposes unless otherwise specified in the  Contract. Unless You specify otherwise, a change of Annuitant will take effect on the date the  request is signed by You, subject to any payments the Company has made or other actions the  Company has taken before the Company receives and records Your request. The Company  reserves the right to limit the number of Joint Annuitants to two (2). When the Owner is a legal  entity, the Annuitant(s) shall be entitled to the benefits of the Waiver of Withdrawal Charge Due  to Terminal Illness and the Waiver of Withdrawal Charge for Extended Care provisions. When  the Owner is a legal entity, the Annuitant may not be changed.    ASSIGNMENT. To the extent allowed by state law, the Company may refuse consent to any  assignment at any time, on a nondiscriminatory basis, if the assignment or ownership change  would result in noncompliance with any applicable state or federal regulation. Unless restricted  by endorsement, You may assign ownership of this Contract subject to the interests of  assignees and irrevocable Beneficiaries. The Company will only be bound by an assignment if a  request is submitted in a form acceptable to the Company, received in Good Order at the  Company's Service Center, recorded and acknowledged by the Company. Unless You specify  otherwise, an assignment will take effect on the date the request is signed by You, subject to  any payments the Company has made or other actions the Company has taken before the  Company receives and records Your request.     The Company assumes no responsibility for the validity or tax consequences of any  assignment. If You make an assignment, You may have to pay taxes. The Company  encourages You to seek legal and/or tax advice.    BENEFICIARY. You may change the Beneficiaries, subject to the interest of assignees and  irrevocable Beneficiaries. The Company will only be bound by a change in Beneficiary if a  request is submitted in a form acceptable to the Company, received in Good Order at the  Company's Service Center and recorded. Any previously designated irrevocable Beneficiary  must consent in writing to any change in Beneficiary. Unless You specify otherwise, a change of  Beneficiary will take effect on the date the request is signed by You, subject to any payments  the Company has made or other actions the Company has taken before the Company receives  and records Your request, and while You are alive.    CONFORMITY WITH LAWS. This Contract will be interpreted under the law of the state in  which it is issued and any applicable federal laws. Any provision that is in conflict with the laws  of the state in which the Contract is issued, or any federal law is amended to conform to the  minimum requirements of such law.    DEFERRAL OF PAYMENTS. If approved in writing by the chief insurance regulator of the  Company's state of domicile, the Company may defer payment of Your request for a partial  and/or total withdrawal from the Contract for a period not exceeding six (6) months. The  Company will credit interest on deferred amounts as required by law. The Company will not  defer payment of death benefits.    RILA280 8  

 

                         GENERAL PROVISIONS (CONT'D)    ENTIRE CONTRACT. The Contract, application, if any, and any attached endorsements and  amendments together make up the entire Contract between You and the Company. All  statements made by the applicant to procure the Contract will, in the absence of fraud, be  deemed representations and not warranties.     INCONTESTABILITY. The Company may only contest this Contract when an applicant has  procured the Contract by fraud, and only if permitted by law in the state in which the Company  delivered the Contract or issued the Contract for delivery.    MINIMUM VALUES. Any Withdrawal Values and death benefits that may be available under  this Contract are not less than the minimum benefits required by any statute of the state in  which the Contract is delivered.    MISSTATEMENT OF AGE AND/OR SEX. If Your or the Annuitant's age and/or sex is misstated  at the time the Contract's Income Payments become payable, the Company will adjust the  payments to reflect income consistent with the correct age and/or sex. Immediately upon  discovery, the Company will adjust the next payment due as a credit or charge, as appropriate,  for any underpayments or overpayments using the Interest Rate for Adjustments Due to  Misstatement of Age or Sex shown on the Contract Data Pages.    MODIFICATION OF CONTRACT. No financial professional has authority to change or waive  any of this Contract's provisions. No change to or waiver of this Contract's terms is valid unless  in writing and signed by the Company's President, Vice President, Secretary or Assistant  Secretary; provided, however, that the Company may amend any Contract term, and administer  the Contract, to conform to the Internal Revenue Code.    NONPARTICIPATING. This Contract is nonparticipating and does not share in the Company's  surplus or earnings.    OWNER. To the extent allowed by state law, the Company may refuse consent to an ownership  change at any time, on a nondiscriminatory basis, if the ownership change would result in  noncompliance with any applicable state or federal regulation. Unless restricted by  endorsement, You may change the Owner or any Joint Owner. The Company will use the oldest  Owner's age for all Contract purposes unless otherwise specified in the Contract. The Company  will only be bound by a change of ownership if submitted in a form acceptable to the Company,  received in Good Order at the Company's Service Center, recorded and acknowledged by the  Company. No person whose age exceeds the maximum issue age in effect for this Contract as  of the Issue Date may become a new Owner. Unless You specify otherwise, a change of  ownership will take effect on the date the request is signed by You, subject to any payments the  Company has made or other actions the Company has taken before the Company receives and  records Your request. Joint Owners have equal ownership rights; therefore, each Owner must  authorize any exercise of Contract rights unless the Joint Owners instruct the Company in  writing to act upon authorization of an individual Joint Owner. The Company reserves the right  to limit the number of Joint Owners to two (2).    The Company assumes no responsibility for the validity or tax consequences of any  ownership change. If You make an ownership change, You may have to pay taxes. The  Company encourages You to seek legal and/or tax advice.   RILA280 9 

 

                           GENERAL PROVISIONS (CONT'D)    PROOF OF AGE, SEX AND/OR SURVIVAL. The Company may require proof of age and/or  sex, satisfactory to the Company at any time. If any payment required by this Contract depends  on a living Annuitant, Owner, or Beneficiary, the Company may require proof of that person's  survival satisfactory to the Company.    PROTECTION OF PROCEEDS. A Beneficiary may not assign Contract proceeds before the  proceeds are payable. Contract proceeds are not subject to the claims of creditors or to legal  process unless required by applicable law.    REPORTS. The Company will send a report to Your last address in the Company's records at  least annually before the Income Date. In the case of Joint Owners, the Company will send  reports only to the primary Owner's address. If You have elected electronic delivery, a report  may be provided in the form of an email to Your last email address in the Company's records, or  a notice to You of a document's availability on the Company's website. Each report will provide  at least the following information:  1.  the dates that begin and end the reporting period;   2.  the Contract Value at the beginning and at the end of the current reporting period   3.  the Withdrawal Value at the end of the reporting period;   4.  the Withdrawal Charge the Company used to determine the Withdrawal Value;   5.  the amounts the Company has credited to and deducted from the Contract Value during the     reporting period;  6.  the death benefit at the end of the reporting period; and  7.  any other information state and federal law require.     You may receive copies of reports the Company provides upon request at no additional charge.    You will receive a confirmation statement for certain transactions at the time they occur.    SEPARATE ACCOUNT. The Company holds certain investments supporting the assets  allocated to the Index Account in a non-insulated, non-unitized Separate Account. The Separate  Account is established pursuant to the laws of the Company's domiciliary state solely for the  purpose of supporting obligations under the Contract. You do not directly participate in the  performance of assets held in the Separate Account; and do not have any direct claim on them.  Assets of the Separate Account are chargeable with the claims of any of the Company's  contract owners as well as the Company's creditors and are subject to the liabilities arising out  of any other business the Company conducts. The Separate Account is not registered under the  Investment Company Act of 1940. The name of the Separate Account is shown on the Contract  Data Pages.     TAXES. This Contract is intended to be treated as an annuity contract for federal income tax  purposes. Accordingly, for all Non-Qualified Contracts all provisions of this Contract shall be  interpreted and administered in accordance with the requirements of Section 72(s) of the  Internal Revenue Code. The Company will deduct any taxes attributed to the Contract and  payable to a government entity from the Contract Value. The Company reserves the right to  deduct any amounts the Company might advance to pay taxes from the Contract Value. The  Company will withhold taxes required by law from any amounts payable from this Contract.   RILA280 10 

 

                         GENERAL PROVISIONS (CONT'D)    WRITTEN NOTICE. Written information or instructions You intend to give the Company must be  in Good Order and delivered to the Company's Service Center, unless the Company advises  You otherwise. Instructions included in the Written Notice will take effect on the date the  Company receives the notice in Good Order at the Company's Service Center, unless otherwise  provided in the notice or in this Contract, or unless the Company advises You otherwise.    The Company will deliver any notice or communication to Your last address in the Company's  records unless You request otherwise in writing. If You have elected electronic delivery,  communication may be provided in the form of an email to Your last email address in the  Company's records, or a notice to You of a document's availability on the Company's website.  You are responsible for notifying the Company of any address change, email address change,  or any error in a Company notice sent to You. In the case of Joint Owners, the Company will  send notices and other communications to the primary Owner's address.    RILA280 11 

 

                          CONTRACT OPTION PROVISIONS    The Contract contains two (2) types of Contract Options: Fixed Account and Index Account.    Upon Good Order, all Premium will be allocated to the Contract Options as elected on the  application. The Company reserves the right to restrict or prohibit allocation of Premium to the  Fixed Account at its discretion, on a non-discriminatory basis, at any time. No Premium will be  accepted after the Issue Date.    TRANSFERS.    Transfers may only occur on the Contract Anniversary, when transferring out of the Fixed  Account, and on the Index Account Option Term Anniversary when transferring out of an Index  Account Option. When the Contract Anniversary or Index Account Option Term Anniversary  occurs on a non-Business Day, the transfer will be effective on the following Business Day using  the following Business Day's values. You will receive notice thirty (30) days prior to the Index  Account Option Term Anniversary. The notice will include information on the Contract Options  available to You. You may request a transfer to or from the Fixed Account and to or from the  Index Account Options. You may also request transfers among the available Index Account  Options within the Index Account. A request for a transfer must be received in Good Order prior  to the Index Account Option Term Anniversary. If no transfer request is received on or prior to the  Index Account Option Term Anniversary, the Fixed Account value will remain in the Fixed  Account and the Index Account Option value(s) will be reallocated to the same Index Account  Option(s) for the same term, Crediting Method and Index, if available.     If the Crediting Method, or Index is no longer available as of the Index Account Option Term  Anniversary, the Index Account Option value(s) will be reallocated to the Fixed Account until  further instruction is received.     If You do not select an Index Account Option term within thirty (30) days prior to the end of the  expired Index Account Option term:  1.  if the same Index Account Option term is available at the time and does not extend beyond     the Income Date, the Company will renew the Index Account Option into the same Index     Account Option term.  2.  if the same Index Account Option term is available at the time but extends beyond the Income     Date, the Company will select the available Index Account Option term that ends closest to     but before the Income Date.  3.  if the same Index Account Option term is not available at the time but would not extend     beyond the Income Date were it available, the Company will select the available Index     Account Option term with the period closest to but less than the Index Account Option term     that just ended.    Unless specified otherwise, transfers will be taken from the Index Account Options and the Fixed  Account in proportion to their current value. The Company reserves the right, to restrict or prohibit  transfers from the Index Account Option to the Fixed Account, at its discretion, on a  nondiscriminatory basis, at any time.    RILA280 12 

 

                   CONTRACT OPTION PROVISIONS (CONT'D)    Transfers from a Fixed Account will reduce the Fixed Account value by the transfer amount  requested. Transfers into a Fixed Account will increase the Fixed Account value by the transfer  amount requested. Transfers from an Index Account Option will reduce the Index Account  Option value by the transfer amount requested. Transfers into an Index Account Option will  increase the Index Account Option value by the transfer amount requested.    Fixed Account. The Fixed Account is an annually renewable fixed account. The Company will  credit interest to amounts allocated to the Fixed Account. Such interest will be credited at such  rate(s) as the Company prospectively declares on a periodic basis, at the sole discretion of the  Company. On each Contract Anniversary the interest rate for the Fixed Account is subject to  change. In no event will the interest rate credited by the Company to the Fixed Account be less  than the FAMIR, as shown on the Contract Data Pages, per annum.    Index Account Option. An option within the Index Account for allocation of Contract Value,  defined by term, Index, and Crediting Method. The terms, Indexes, and Crediting Methods  available as of the Issue Date are shown on the Supplemental Contract Data Pages. Availability  of terms, Indexes, and Crediting Methods are subject to change at the sole discretion of the  Company on a non-discriminatory basis.    Fixed Account Value. The Fixed Account value is equal to (1) the value of Premium and any  amounts transferred into the Fixed Account; (2) plus interest credited daily at a rate not less  than the FAMIR, as shown on the Contract Data Pages, per annum; (3) less any gross partial  withdrawals, including any Withdrawal Charges on such withdrawals; (4) less any amounts  transferred out of the Fixed Account. The Fixed Account Value will never be less than the  FAMV.    Index Account Value. The Index Account value is equal to the sum of the Index Account  Option values.    The Index Account Option value at the beginning of the Index Account Option term is equal to  the amount allocated or transferred to the Index Account Option less the amount transferred out  of the Index Account Option.    During the Index Account Option term, the Index Account Option value is equal to the Interim  Value, which is the greater of the Index Account Option value at the beginning of the term  reduced for any partial withdrawals from the Index Account Option during the Index Account  Option term, including any Withdrawal Charges, in the same proportion as the Interim Value  was reduced on the date of the withdrawal, plus the prorated Index Adjustment subject to  prorated Index Adjustment Factors and the IVPF, or zero. Additional detail on Index Adjustment  Factors can be found in the Crediting Method endorsements and Supplemental Contract Data  Pages.    On the Index Account Option Term Anniversary, the Index Account Option value is equal to the  greater of the Index Account Option value at the beginning of the Index Account Option term,  reduced for any partial withdrawals from the Index Account Option during the Index Account  Option term, including any Withdrawal Charges, in the same proportion as the Interim Value  was reduced on the date of the withdrawal, plus the Index Adjustment subject to Index  Adjustment Factors, or zero. Additional detail on Index Adjustment Factors can be found in the  Crediting Method endorsements and Supplemental Contract Data Pages.   RILA280 13 

 

                             WITHDRAWAL PROVISIONS    On or before the Income Date, You may request a total or partial withdrawal of the Contract  Value by submitting a request to the Company's Service Center in a form acceptable to the  Company.    The withdrawal will be processed after a withdrawal request is received at the Service Center in  Good Order. If a total withdrawal is requested, You must submit the Contract to the Service  Center with the withdrawal request.    TOTAL WITHDRAWAL. During the Withdrawal Charge Schedule, the Withdrawal Value for a  total withdrawal from the Contract is equal to the Contract Value less any Withdrawal Charge.  After the expiration of the Withdrawal Charge Schedule, the Withdrawal Value for a total  withdrawal from the Contract is equal to Contract Value. A total withdrawal terminates Your  Contract.    In no event will a total withdrawal from the Fixed Account be less than the FAMV.    No withdrawal may exceed the Withdrawal Value.    PARTIAL WITHDRAWAL. Any partial withdrawal may be subject to a Withdrawal Charge. At  least the Minimum Contract Value remaining after a partial withdrawal, as shown on the  Contract Data Pages, must remain after any partial withdrawal. Unless You request otherwise, a  gross partial withdrawal will be deducted from the Fixed Account and the Index Account  Option(s) in proportion to their current values. The gross partial withdrawal will be reduced for  any applicable Withdrawal Charge.     If the gross amount of the partial withdrawal would reduce the Contract Value below the  Minimum Contract Value remaining after a partial withdrawal, as shown on the Contract Data  Pages, the Company will treat the withdrawal request as a total withdrawal and the Withdrawal  Value will be paid.    The amount payable as a result of the partial withdrawal will be determined at the end of the  Business Day on which the Company receives Your request for withdrawal in Good Order at the  Company's Service Center.     Partial Withdrawals will reduce each Index Account Option's value at the beginning of the term  in the same proportion that its Interim Value was reduced on the date of the withdrawal.    QUALIFIED PLAN CONTRACT REQUIRED MINIMUM DISTRIBUTIONS. Qualified Plan  Contract RMDs are based upon Your Contract Value, and applicable federal tax law  requirements. You may request a withdrawal for an RMD by submitting a written request to the  Service Center on a Company provided form.    RILA280 14 

 

                       WITHDRAWAL PROVISIONS (CONT'D)    The Company will waive any Withdrawal Charge if the gross amount withdrawn does not  exceed the Contract's RMD amount. However, if a gross withdrawal amount is greater than the  Contract's RMD amount, the excess amount of the gross partial withdrawal is subject to a  Withdrawal Charge.    AUTOMATIC WITHDRAWAL. You may elect to take an automatic withdrawal by withdrawing a  specific sum or a certain percentage of the Contract Value on a monthly, quarterly, semiannual  or annual basis, subject to the Minimum Partial Withdrawal amount made as a scheduled part of  an automatic withdrawal program, as shown on the Contract Data Pages. Automatic  withdrawals are treated as partial withdrawals and will be counted in determining the amount  taken as a Free Withdrawal in any Contract Year. Automatic withdrawals in excess of the Free  Withdrawal amount may be subject to Withdrawal Charges. If an automatic withdrawal causes  the Withdrawal Value to fall to zero, future automatic withdrawals will terminate. If the automatic  withdrawal would reduce the Contract Value below the Minimum Contract Value remaining after  a partial withdrawal, as shown on the Contract Data Pages, the Company will treat the  automatic withdrawal as a total withdrawal and the Withdrawal Value will be paid.    WITHDRAWAL CHARGE. The Company may impose a Withdrawal Charge against certain  withdrawals from the Contract. The Company will calculate Withdrawal Charges in accordance  with the Withdrawal Charge Schedule shown on the Contract Data Pages.    For purposes of determining the Withdrawal Charge, the Contract Value is divided into earnings  and Remaining Premium, as defined in the Contract. Earnings are not subject to a Withdrawal  Charge. For the sole purpose of determining the amount of the Withdrawal Charge, earnings  are defined as any excess of the Contract Value over Remaining Premium.     Remaining Premium is defined as the total Premium paid into the Contract less withdrawals of  Premium, before the withdrawal is adjusted for any charges.    The Withdrawal Charge is equal to the applicable Withdrawal Charge Percentage applied to the  gross amount of Remaining Premium withdrawn (not the net amount of Remaining Premium  received by You), excluding any amount for which the Contract expressly provides for a waived,  or no, Withdrawal Charge. In the event of a total withdrawal, the applicable Withdrawal Charge  Percentage is applied to the full value of Remaining Premium immediately prior to the  withdrawal, less any Free Withdrawal available at the time of the total withdrawal. The  Withdrawal Charge reduces Remaining Premium and Contract Value. The Withdrawal Charge  will be taken from the Contract Options in the same proportion as the requested withdrawal.    Withdrawals will be allocated first to earnings (which may be withdrawn free of any Withdrawal  Charge), if any, and second to Remaining Premium.    Any portion of the Withdrawal Charge that would reduce the Fixed Account Value below the  FAMV will be waived.    RILA280 15 

 

                       WITHDRAWAL PROVISIONS (CONT'D)    FREE WITHDRAWAL. During each Contract Year, You may make partial withdrawals from the  Contract without incurring a Withdrawal Charge. The amount of Free Withdrawal available in  any Contract Year is equal to the greater of:  1.  the Free Withdrawal Percentage, as shown on the Contract Data Pages, multiplied by the     Contract Value that is subject to a Withdrawal Charge at the beginning of the Contract Year     according to the Withdrawal Charge Schedule shown on the Contract Data Pages; less     earnings, as defined in the Withdrawal Charge provision of this Contract; or   2. zero    The Free Withdrawal can be taken as a single withdrawal or multiple withdrawals throughout the  Contract Year. The amount of Your Free Withdrawal available will vary throughout the Contract  Year depending on previous withdrawals of Your Free Withdrawal amount, previous withdrawals  of earnings, and the amount of earnings present at the time of the withdrawal. The amount of  Your Free Withdrawal available will reduce due to withdrawals during the Contract Year.    Any amount withdrawn to satisfy an RMD may reduce the amount of Your Free Withdrawal  available.    No Free Withdrawal may exceed the Withdrawal Value.    Amounts withdrawn under the Free Withdrawal provision reduce the Contract Value and may  reduce Remaining Premium. Withdrawals during the Contract Year in excess of the Free  Withdrawal may be subject to any applicable Withdrawal Charges.    WAIVER OF WITHDRAWAL CHARGE DUE TO TERMINAL ILLNESS.    If You are diagnosed with a terminal illness on or after the Issue Date shown on the Contract  Data Pages, the Company will waive the Withdrawal Charge on the amount You withdraw from  the Contract, up to the Waiver of Withdrawal Charge Due to Terminal Illness maximum amount  shown on the Contract Data Pages. Upon Your compliance with the Claim Requirements  described below, You will be eligible for this waiver on or after the Eligibility Date shown on the  Contract Data Pages. All other Contract values will be reduced proportionately for the amount  withdrawn.     The Company will allocate the withdrawal amount to each Contract Option according to the  method described in the Withdrawal Provisions. The Company will determine values at the end  of the Business Day on which the Company receives the request for withdrawal in Good Order  at the Company's Service Center. Withdrawals under this provision may reduce Remaining  Premium.    This Waiver of Withdrawal Charge Due to Terminal Illness is available only once, no matter the  amount withdrawn or in the circumstances of multiple medical conditions and/or Joint Owners.   RILA280 16 

 

                       WITHDRAWAL PROVISIONS (CONT'D)    For the purpose of this waiver, the following definitions apply:      Immediate Family - means the individual's spouse/domestic partner, child, brother, sister,     parent or grandparent.         Physician - means an individual who is licensed to practice medicine and treat illness or     injury in the state where treatment is received and who is acting within the scope of his or     her license. The term Physician only refers to a Physician licensed and currently practicing     in the United States or its territories. The term Physician does not include:     1.  an Annuitant or Joint Annuitant;     2.  an Owner or Joint Owner;     3. a Beneficiary;     4.  a member of the Annuitant's, Joint Annuitant's, Owner's or Joint Owner's Immediate        Family.         Physician's Statement - means a written statement signed by a Physician, which:     1.  provides the Physician's diagnosis of Your medical condition; and      2.  declares with reasonable medical certainty and to the Company's reasonable        satisfaction that notwithstanding ordinary and reasonable medical care, advice and        treatment, Your medical condition will result in Your death within twelve (12) months        from the date of the Physician's statement.                 Claim Requirements. Your request to the Company must include (1) a completed claim form,  (2) Your signed release for records of all Physicians and institutions that have treated You for  the medical condition You claim, and (3) a Physician's Statement to the Company's Service  Center in Good Order. The Company reserves the right to request additional releases for the  records of any Physician and institution that have provided treatment to You.     The Company will send You a form to claim the Waiver of Withdrawal Charge Due to Terminal  Illness within ten (10) Business Days of the Company's receipt of Your request. If the Company  fails to send the claim form within ten (10) Business Days, You will be deemed to have complied  with the above claim requirements.    Claim Determination. The Company reserves the right to deny Your claim if You do not satisfy  the Claim Requirements. The Company will notify You if the Company denies Your waiver of  Withdrawal Charge Due to Terminal Illness claim, and You will then have the opportunity to  submit a standard withdrawal request subject to any applicable Withdrawal Charge. Termination  of the Contract will not prejudice any payment made under the terminal illness waiver that  occurred while this Contract was in force.    YOU MAY OWE TAX ON WITHDRAWALS FOR TERMINAL ILLNESS. THE COMPANY  ENCOURAGES YOU TO SEEK LEGAL AND/OR TAX ADVICE.    RILA280 17 

 

                       WITHDRAWAL PROVISIONS (CONT'D)    WAIVER OF WITHDRAWAL CHARGE FOR EXTENDED CARE.    If You are confined as an inpatient in a Nursing Home or Hospital for ninety (90) consecutive  days starting after the Issue Date shown on the Contract Data Pages, the Company will waive  the Withdrawal Charge on the amount You withdraw from the Contract up to the Waiver of  Withdrawal Charge for Extended Care maximum amount shown on the Contract Data Pages.  Upon Your compliance with the Claim Requirements described below, You will be eligible for  this waiver on the Eligibility Date shown on the Contract Data Pages. All other Contract values  will be reduced proportionately for the amount withdrawn.    The Company will allocate the withdrawal amount to each Contract Option according to the  method described in the Withdrawal Provisions. The Company will determine values at the end  of the Business Day on which the Company receives the request for withdrawal in Good Order  at the Company's Service Center. Withdrawals under this provision may reduce Remaining  Premium.    The availability of access to guarantees or values is not intended to provide long-term care or  nursing home insurance.    This Waiver of Withdrawal Charge for Extended Care is available only once, no matter the  amount withdrawn or in the circumstances of multiple confinements for the same or a different  medical condition and/or Joint Owners.     For the purpose of this waiver, the following definitions apply:      Hospital. A facility that:     1.  is located within the United States or its territories;     2.  is operated pursuant to the law;     3.  operates primarily for the inpatient care and treatment of sick and injured persons;     4.  provides continuous twenty-four (24) hour a day nursing service by or under the        supervision of a registered nurse (R.N.);     5.  is supervised by a staff of licensed physicians; and     6.  has its own medical and diagnostic facilities or has access to such facilities on a        prearranged basis.      Immediate Family - means the individual's spouse/domestic partner, child, brother, sister,     parent or grandparent.      Medically Necessary - means consistent with Your diagnosis in accordance with accepted     standards of medical practice without which Your medical condition would be adversely     affected.   RILA280 18 

 

                       WITHDRAWAL PROVISIONS (CONT'D)      Nursing Home. A facility that:     1.  is licensed by the appropriate governmental licensing agency as a Nursing Home in the        state in which it maintains such facilities;     2.  is operated pursuant to the law;     3.  charges patients a fee for the care provided;     4.  is primarily engaged in providing nursing care (skilled, intermediate or custodial) by or        under the supervision of a licensed Physician and room and board accommodations;     5.  provides continuous twenty-four (24) hour a day nursing services by or under the        supervision of a registered nurse (R.N.);     6.  has a licensed Physician on premises available to furnish emergency medical care;     7.  maintains a daily medical record of each patient; and     8.  maintains control and records of dispensed medications.      Physician - means an individual who is licensed to practice medicine and treat illness or     injury in the state where treatment is received and who is acting within the scope of his or     her license. The term Physician only refers to a Physician licensed and currently practicing     in the United States or its territories. The term Physician does not include a person who is:     1.  an Annuitant or Joint Annuitant;     2.  an Owner or Joint Owner;     3. a Beneficiary;     4.  a member of the Annuitant's, Joint Annuitant's, Owner's or Joint Owner's Immediate        Family.      Physician's Statement - means a written statement signed by a Physician which provides     the Physician's diagnosis of Your medical condition.    You will be considered confined to a Nursing Home or Hospital only if Your confinement is  prescribed by a Physician and Medically Necessary.    Claim Requirements. Ninety (90) days after the date You become confined, You may submit a  request, which must include (1) a completed claim form, (2) Your signed release for records of  all Physicians and institutions that have treated You for the medical condition You claim, and (3)  a Physician's Statement to the Company's Service Center in Good Order. The Company  reserves the right to request additional releases for the records of any Physician, Hospital and  Nursing Home that have provided treatment to You.    The Company will send You a form to claim the Waiver of Withdrawal Charge for Extended  Care within ten (10) Business Days of the Company's receipt of Your request. If the Company  fails to send the claim form within ten (10) Business Days, You will be deemed to have complied  with the above claim requirements.    Claim Determination. The Company reserves the right to deny Your claim if You do not satisfy  the Claim Requirements. The Company will notify You if the Company denies Your waiver of  Withdrawal Charge for Extended Care claim, and You will then have the opportunity to submit a  standard withdrawal request, subject to any applicable Withdrawal Charge. Termination of the  Contract will not prejudice any payment made under the extended care waiver that occurred  while this Contract was in force.    YOU MAY OWE TAX ON WITHDRAWALS FOR EXTENDED CARE. THE COMPANY  ENCOURAGES YOU TO SEEK LEGAL AND/OR TAX ADVICE.   RILA280 19 

 

                           DEATH BENEFIT PROVISIONS    NATURAL OWNER'S DEATH BEFORE THE INCOME DATE. Upon Your death or the death of  any Joint Owner, before the Income Date, the Company will pay the death benefit to the  Beneficiary(ies) designated by You.    Upon the death of the first Joint Owner, the surviving Joint Owner will become the Primary  Beneficiary and will receive the death benefit payable. Any other Beneficiary designation on  record at the Company's Service Center at the time of the first Joint Owner's death will be  treated as a Contingent Beneficiary.    ANNUITANT'S DEATH BEFORE THE INCOME DATE. Upon the death of an Annuitant who is  not an Owner before the Income Date, the Contract remains in force and the Owner becomes  the Annuitant. The Owner may designate a new Annuitant, subject to the Company's  administrative rules then in effect. No death benefit is payable on the death of an Annuitant who  is not also an Owner.     If the Contract is owned by a legal entity, upon the death of the Annuitant, (in the case of Joint  Annuitants, upon the death of the first Annuitant) the Company will pay the death benefit to the  Beneficiary(ies) designated by the Owner, or, if no Beneficiary(ies) survive the applicable death,  to the Owner.     DEATH BENEFIT AMOUNT BEFORE THE INCOME DATE. The death benefit amount before  the Income Date is equal to the greater of:  1.  the current Contract Value; or  2.  Premiums paid into the Contract, less any applicable taxes, adjusted for any withdrawals     (including any applicable charges and adjustments for such withdrawals) incurred since the     issuance of the Contract. All adjustments will occur at the time of the withdrawal. All     adjustments for amounts withdrawn will reduce this item in the same proportion that the     Contract Value was reduced on the date of such withdrawal.    DEATH BENEFIT PAYMENT OPTIONS BEFORE THE INCOME DATE. Unless You  designated a Pre-selected Death Benefit Option, a Beneficiary entitled to the death benefit  before the Income Date must request that the Company pay the death benefit according to one  of the death benefit options below:    Option 1 - single lump-sum payment;  Option 2 - payment of the entire death benefit distributed within five (5) years of the date of the            relevant death; or  Option 3 - Income Payments of the death benefit with distributions beginning within one (1) year           of the date of the relevant death:           (i) over the lifetime of the Beneficiary; or           (ii) over a period not extending beyond the life expectancy of the Beneficiary.    The Company may make available other death benefit payment options.    A Beneficiary that wishes to elect payment under Option 3 must do so no later than sixty (60)  days from the date the Company receives Due Proof of death in Good Order at the Company's  Service Center.   RILA280 20 

 

                     DEATH BENEFIT PROVISIONS (CONT'D)    Any portion of the death benefit not applied under Option 3 must be paid within five (5) years  from Your death. The death benefit will remain invested in accordance with the allocation  selected by You until a payout option is selected or the Beneficiary specifies otherwise.    DEATH BENEFIT PAYMENT OPTIONS FOR QUALIFIED PLANS. For Qualified Plans, the  death benefit payment options may be limited under the terms of the plan endorsement in order  to qualify under the Internal Revenue Code.     BENEFICIARY'S ENTITLEMENT TO DEATH BENEFIT BEFORE THE INCOME DATE. The  Company will pay the death benefit to Primary Beneficiaries or, if none exist, to Contingent  Beneficiaries, in equal shares (the "default allocation") unless You have designated otherwise  (the "designated allocation"). A Beneficiary that dies before or within ten (10) days (or different  period as prescribed by applicable law) of Your death is not entitled to any death benefit. In that  circumstance, the Company will pay the deceased Beneficiary's share of the death benefit to  surviving Beneficiaries in the same proportion as the designated allocation or, if applicable, the  default allocation. If no Beneficiary survives You, the Company will pay the death benefit to Your  estate.    PAYMENT OF DEATH BENEFIT. The Company will pay the death benefit to the Beneficiary  upon receipt of a request for payment with Due Proof of the relevant death in Good Order at the  Company's Service Center. If the Company has received Due Proof of death, the Company will  calculate the share of the death benefit due to a Beneficiary using Contract values established  at the end of the Business Day on the date the Company receives a claim form with a payment  option elected from that Beneficiary. If the Company has not received Due Proof of death or any  other required documentation, the Company will calculate the share of the death benefit due to  a Beneficiary using Contract values established at the end of the Business Day on the date the  Company receives any remaining required documentation. The Index Adjustments may cause  the calculation of a Beneficiary's death benefit share to differ from the calculation of another  Beneficiary's death benefit share. The Company will pay interest on a Beneficiary's death  benefit share as required by law.     Each Beneficiary entitled to the death benefit bears the investment risk associated with amounts  allocated to any Index Account Option until the Company calculates their share of the death  benefit.    If any death benefit is due to an Owner's estate, the Company will pay the benefit in a single  lump-sum payment.     If a single lump-sum payment is elected, the Contract will remain in force and will accrue  interest, at current rate(s) based on the Contract's current Crediting Method/Index combinations,  until the Company first receives Due Proof of death in Good Order. After that time, the rate of  interest will equal the rate of interest applicable to death benefit left on deposit with the  Company on the date of Your death.    The Company will pay the death benefit in accordance with applicable laws and regulations  governing death benefit payments and in accordance with the Company's administrative  procedures.    RILA280 21  

 

                     DEATH BENEFIT PROVISIONS (CONT'D)    Spousal Continuation Option Instead of Death Benefit. Unless the Contract is subject to a  Pre-selected Death Benefit Option, a spouse who is a Joint Owner or Beneficiary of the  deceased Owner may elect to continue the Contract in his or her own name at an adjusted  Contract Value as described below and exercise the Owner's rights under the Contract instead  of taking the standard death benefit.    For purposes of the Spousal Continuation Option, the "continuation date" is the date on which  the Company receives the spouse's written request to elect the Spousal Continuation Option  and Due Proof of the relevant death in Good Order at the Company's Service Center.    If the Contract Value on the continuation date is less than the death benefit, an amount will be  added to the Contract Value to make up the difference. This amount is referred to as the  continuation adjustment. The Company will allocate the continuation adjustment to the Fixed  Account. The continuation adjustment will have no effect on the FAMV. Withdrawal Charges will  continue with the same schedule as prior to the original Owner's death. However, no Withdrawal  Charge will apply to the continuation adjustment.    For purposes of determining the future death benefits for the surviving spouse under the  continuing Contract, the Contract Value following the application of any continuation adjustment  will be considered the initial Premium of the continuing Contract.    The Spousal Continuation Option is void in the event the original Contract Owner is no longer  the Contract Owner or in the event the Contract has been assigned. The Spousal Continuation  Option may be exercised only once and may not be available if You designated a Pre-selected  Death Benefit Option.    Pre-selected Death Benefit Option. Before the Income Date, You may designate the option  according to which the Company will pay the death benefit from the death benefit payment  options described in the Contract, or other death benefit options made available by the  Company. You may do so by submitting a designation in a form acceptable to the Company in  Good Order to the Company's Service Center. Pre-selected Death Benefit Options are effective  only after being recorded by the Company. The Company will pay the death benefit consistent  with Your Pre-selected Death Benefit Option unless the Internal Revenue Code requires  otherwise, or Your election requires payment over a period that exceeds the Beneficiary's life  expectancy as determined by the Company.    Only You may revoke or change a Pre-selected Death Benefit Option. To do so, You must  submit a request in a form acceptable to the Company to the Company's Service Center.  Revocations of and changes to a Pre-selected Death Benefit Option are effective only after  being recorded by the Company.    RILA280 22  

 

                                 INCOME PROVISIONS    INCOME DATE. Income Payments begin on the Income Date. If You do not select an Income  Date, the Income Date is the LID. You may change the Income Date to any date that is not later  than the LID by submitting Written Notice in Good Order to the Company's Service Center at  least seven (7) days before the Income Date.    INCOME PAYMENT. On or before the Income Date, You may elect payment in a single lump- sum. A single lump-sum payment is considered a total withdrawal and terminates the Contract.  The Company will make payment to You or another payee You specify. Alternatively, You may  elect an Income Option to begin on the Income Date. The Company will apply the Contract  Value, less applicable taxes, to provide You income according to Your selected Income Option.  Withdrawal Charges will apply if Income Payments begin within one (1) year of the Issue Date.     INCOME OPTIONS. You may elect payment as provided in Options 1, 2, 3, or 4 below. You  may elect an Income Option up to thirty (30) days before the Income Date by submitting Written  Notice in Good Order to the Company's Service Center. The Company will make payment to  You or another payee You specify.    If You do not select an Income Option the Company will make payments as provided in Option 3  below, with 120 months certain. The Company will make payments monthly, quarterly,  semiannually or annually as You elect. However, if the Contract Value on the Income Date is  less than $2,000, the Company may pay out the Contract Value in one (1) lump-sum payment  instead of providing Income Payments according to the Income Option You elect. If the first  monthly payment provided would be less than $20, the Company may make payments  quarterly, semiannually or annually to achieve an initial payment of at least $20, or the  Company may pay out the Contract Value in one (1) single lump-sum payment.    At the time of their commencement, Income Payments will not be less than those that would be  provided by the application of an equivalent amount to purchase a single premium immediate  annuity contract from the Company at purchase rates the Company offered on the Income Date  to annuitants in the same class as the Annuitant.    YOU MAY NOT TAKE WITHDRAWALS DURING ANY PERIOD THE COMPANY IS MAKING  PAYMENTS FOR AN ANNUITANT'S LIFETIME.    OPTION 1 - LIFE INCOME. A monthly payment for the Annuitant's lifetime. All payments end  upon the Annuitant's death. However, in the event of the Annuitant's death before the first  monthly payment, the Company will pay the amount allocated to this Income Option to You or, if  You are deceased, to Your Beneficiary.    OPTION 2 - JOINT AND SURVIVOR INCOME. A monthly payment for the longer of the  Annuitant's lifetime or that of a second person You designate. Upon the occasion of the first  person to die, monthly payments continue during the survivor's lifetime at either the full amount  previously payable or as a percentage (either one-half or two-thirds) of the full amount, as You  select at the time You elect the Income Option.    All payments end upon the death of the last surviving Annuitant. However, in the event of the  deaths of the Annuitant and the designated second person before the first monthly payment, the  Company will pay the amount allocated to this Income Option to You or, if You are deceased,  Your Beneficiary.    RILA280 23 

 

                          INCOME PROVISIONS (CONT'D)    OPTION 3 - LIFE INCOME WITH 120 OR 240 MONTHLY PAYMENTS GUARANTEED. A  monthly payment for the Annuitant's lifetime with the guarantee that the Company will make no  fewer than 120 or 240 monthly payments to You. If the Owner is an entity, at the Annuitant's  death, if fewer than the guaranteed number of payments have been made, the remaining  guaranteed payments will be made to the Owner as previously scheduled. If the Owner is the  Annuitant, in the event You die before the Company makes the specified number of guaranteed  payments, Your Beneficiary may elect to continue to receive the Income Payments according to  the terms of this Contract, or alternatively may elect to receive the present value of any  remaining guaranteed payments in a single lump-sum payment. The present value of any  remaining guaranteed payments will be based on the total Income Payments as of the date of  the calculation. The Company will determine the interest rate used in this present value  calculation, but in no instance will it be greater than (one) 1 percentage point higher than the  rate used to calculate the initial Income Payment.     OPTION 4 - INCOME FOR A SPECIFIED PERIOD. A monthly payment for any whole number  of years ranging from 5 to 30. In the event You die before the Company makes the specified  number of payments, Your Beneficiary may elect to continue to receive the Income Payments  according to the terms of this Contract, or alternatively may elect to receive the present value of  any remaining guaranteed payments in a single lump-sum payment. The present value of any  remaining guaranteed payments will be based on the total Income Payments as of the date of  the calculation. The Company will determine the interest rate used in this present value  calculation, but in no instance will it be greater than (one) 1 percentage point higher than the  rate used to calculate the initial Income Payment.     ADDITIONAL INCOME OPTIONS. The Company may make available other Income Options.    DEATH BENEFIT AMOUNT AFTER THE INCOME DATE. If the Income Date precedes the  Latest Income Date, upon any Owner's death, any remaining Income Payments will be paid in  accordance with the Income Options of this Contract and will be paid at least as rapidly as the  payment method in effect as of the Owner's death.     If the Income Date is the LID, the death benefit amount is equal to the greater of zero or:    1.  Premium paid into the Contract, less any applicable taxes, adjusted for any withdrawals     (including any applicable charges and adjustments for such withdrawals) incurred since the     issuance of the Contract through the LID. All adjustments will occur at the time of the     withdrawal. All adjustments for amounts withdrawn will reduce this item in the same portion     that the Contract Value was reduced on the date of such withdrawal; less  2.  the Contract Value on the LID.    OWNER'S DEATH AFTER THE INCOME DATE. Upon the death of any Owner who is not also  an Annuitant after the Income Date, any remaining Income Payments due will continue at least  as rapidly as the payment method in effect as of the date of the Owner's death. Upon the death  of the last surviving Joint Owner after the Income Date, any remaining Income Payments will be  paid to the Beneficiary.    ANNUITANT'S DEATH AFTER THE INCOME DATE. Upon the death of the Annuitant after the  Income Date, the death benefit, if any, will be as specified in the Income Option elected. Any  life-contingent Income Payments cease on the death of the Annuitant.  RILA280 24 

 

                          INCOME PROVISIONS (CONT'D)    BENEFICIARY'S ENTITLEMENT TO INCOME PAYMENTS AFTER THE INCOME DATE.  Upon the death of any Owner, the Company will pay any remaining Income Payments due to  Primary Beneficiaries or, if none exist, to the Contingent Beneficiaries, in equal shares (the  "default allocation") unless You have designated otherwise (the "designated allocation"). A  Beneficiary that dies before or within ten (10) days (or different period as prescribed by  applicable law) of Your death is not entitled to remaining Income Payments due; in that  circumstance, the Company will pay any remaining Income Payments due the deceased  Beneficiary to surviving Beneficiaries in the same proportion as the designated allocation or, if  applicable, the default allocation. If no Beneficiary survives You, the Company will pay  remaining Income Payments to Your estate.    RILA280 25 

 

                             TERMINATION PROVISIONS    This Contract terminates and all Contract benefits, will end on the earlier of:  1.  the date You take a total withdrawal;  2.  the date the Contract Value is reduced to zero for any reason, or;  3.  the date upon which the Company receives Due Proof of Your (or any Joint Owner's) death     and all Beneficiaries' election of a death benefit payment option in Good Order at the     Company's Service Center, unless the Contract is continued by the spouse under the     Spousal Continuation Option.    RILA280 26

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