Document:

EX-4.3

 Exhibit 4.3 

DEPOSIT AGREEMENT 
 Dated
June 5, 2014 
 FIFTH THIRD BANCORP, 

AS ISSUER, 
 WILMINGTON TRUST,
NATIONAL ASSOCIATION, 
 AS DEPOSITARY AND CALCULATION AGENT, 

-and- 
 AMERICAN STOCK
TRANSFER & TRUST COMPANY, LLC, 
 AS TRANSFER AGENT AND REGISTRAR 

RELATING TO RECEIPTS, DEPOSITARY SHARES AND RELATED 

4.90% FIXED-TO-FLOATING RATE NON-CUMULATIVE 

PERPETUAL PREFERRED STOCK, SERIES J 

 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	  
		
	 SECTION 1.01. “Calculation Agent”
	  	 	1	  
		
	 SECTION 1.02. “Certificate of Designation”
	  	 	1	  
		
	 SECTION 1.03. “Certificate of Incorporation”
	  	 	1	  
		
	 SECTION 1.04. “Preferred Stock, Series J” or “Preferred Stock”
	  	 	1	  
		
	 SECTION 1.05. “Common Stock”
	  	 	2	  
		
	 SECTION 1.06. “Company”
	  	 	2	  
		
	 SECTION 1.07. “Deposit Agreement”
	  	 	2	  
		
	 SECTION 1.08. “Depositary”
	  	 	2	  
		
	 SECTION 1.09. “Depositary Office”
	  	 	2	  
		
	 SECTION 1.10. “Depositary Share”
	  	 	2	  
		
	 SECTION 1.11. “Depositary’s Agent”
	  	 	2	  
		
	 SECTION 1.12. “DTC”
	  	 	2	  
		
	 SECTION 1.13. “DTC Receipt”
	  	 	2	  
		
	 SECTION 1.14. “Receipt”
	  	 	2	  
		
	 SECTION 1.15. “Record date”
	  	 	2	  
		
	 SECTION 1.16. “Record holder” or “holder”
	  	 	2	  
		
	 SECTION 1.17. “Redemption date”
	  	 	2	  
		
	 SECTION 1.18. “Redemption price”
	  	 	3	  
		
	 SECTION 1.19. “Registrar”
	  	 	3	  
		
	 SECTION 1.20. “Reorganization Event”
	  	 	3	  
		
	 SECTION 1.21. “Securities Act”
	  	 	3	  
		
	 SECTION 1.22. “Transfer Agent”
	  	 	3	  

  
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	 ARTICLE II FORM OF RECEIPTS, DEPOSIT OF PREFERRED STOCK, EXECUTION AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF
RECEIPTS
	  	 	4	  
		
	 SECTION 2.01. Form and Transferability of Receipts.
	  	 	4	  
		
	 SECTION 2.02. Deposit of Preferred Stock; Execution and Delivery of Receipts in Respect Thereof.
	  	 	6	  
		
	 SECTION 2.03. Registration of Transfers of Receipts.
	  	 	7	  
		
	 SECTION 2.04. Combinations and Split-ups of Receipts.
	  	 	7	  
		
	 SECTION 2.05. Surrender of Receipts and Withdrawal of Preferred Stock.
	  	 	7	  
		
	 SECTION 2.06. Limitations on Execution and Delivery, Transfer, Split-up. Combination, Surrender and Exchange of
Receipts.
	  	 	8	  
		
	 SECTION 2.07. Lost Receipts, etc.
	  	 	9	  
		
	 SECTION 2.08. Cancellation and Destruction of Surrendered Receipts.
	  	 	9	  
		
	 SECTION 2.09. Optional Redemption of Preferred Stock for Cash.
	  	 	9	  
		
	 SECTION 2.10. Redemption Upon a Regulatory Capital Event.
	  	 	11	  
		
	 SECTION 2.11. No Pre-Release.
	  	 	12	  
		
	 ARTICLE III CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY
	  	 	13	  
		
	 SECTION 3.01. Filing Proofs, Certificates and Other Information.
	  	 	13	  
		
	 SECTION 3.02. Payment of Fees and Expenses.
	  	 	13	  
		
	 SECTION 3.03. Representations and Warranties as to Preferred Stock.
	  	 	13	  
		
	 SECTION 3.04. Representation and Warranty as to Receipts and Depositary Shares.
	  	 	13	  
		
	 SECTION 3.05. Taxes.
	  	 	14	  
		
	 ARTICLE IV THE PREFERRED STOCK; NOTICES
	  	 	15	  
		
	 SECTION 4.01. Cash Distributions.
	  	 	15	  
		
	 SECTION 4.02. Distributions Other Than Cash.
	  	 	15	  
		
	 SECTION 4.03. Rights, Preferences or Privileges.
	  	 	15	  
		
	 SECTION 4.04. Notice of Dividends; Fixing of Record Date for Holders of Receipts.
	  	 	17	  

  
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	 SECTION 4.05. Voting Rights.
	  	17
		
	 SECTION 4.06. Changes Affecting Preferred Stock and Reorganization Events.
	  	17
		
	 SECTION 4.07. Inspection of Reports.
	  	18
		
	 SECTION 4.08. Lists of Receipt Holders.
	  	18
		
	 SECTION 4.09. Withholding.
	  	18
		
	 ARTICLE V THE DEPOSITARY AND THE COMPANY
	  	19
		
	 SECTION 5.01. Appointment of Calculation Agent.
	  	19
		
	 SECTION 5.02. Calculation of Dividend Rate.
	  	19
		
	 SECTION 5.03. Status of Calculation Agent.
	  	19
		
	 SECTION 5.04. Notice of Dividend Rate.
	  	19
		
	 SECTION 5.05. Rights, Protections, Privileges and Indemnities of Calculation Agent.
	  	19
		
	 SECTION 5.06. Maintenance of Offices, Agencies and Transfer Books by the Depositary and the Registrar.
	  	19
		
	 SECTION 5.07. Prevention or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the
Company.
	  	20
		
	 SECTION 5.08. Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Company.
	  	20
		
	 SECTION 5.09. Resignation and Removal of the Depositary; Appointment of Successor Depositary.
	  	24
		
	 SECTION 5.10. Resignation and Removal of the Calculation Agent; Appointment of Successor Calculation Agent.
	  	25
		
	 SECTION 5.11. Notices, Reports and Documents.
	  	26
		
	 SECTION 5.12. Indemnification by the Company.
	  	26
		
	 SECTION 5.13. Fees, Charges and Expenses.
	  	26
		
	 ARTICLE VI AMENDMENT AND TERMINATION
	  	28
		
	 SECTION 6.01. Amendment.
	  	28
		
	 SECTION 6.02. Termination.
	  	28

  
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	ARTICLE VII MISCELLANEOUS	  	30
		
	 SECTION 7.01. Counterparts.
	  	30
		
	 SECTION 7.02. Exclusive Benefits of Parties.
	  	30
		
	 SECTION 7.03. Invalidity of Provisions.
	  	30
		
	 SECTION 7.04. Notices.
	  	30
		
	 SECTION 7.05. Depositary’s Agents.
	  	32
		
	 SECTION 7.06. Holders of Receipts Are Parties.
	  	32
		
	 SECTION 7.07. Governing Law.
	  	32
		
	 SECTION 7.08. Inspection of Deposit Agreement and Certificate of Designation.
	  	32
		
	 SECTION 7.09. Headings.
	  	32

  
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 DEPOSIT AGREEMENT 

DEPOSIT AGREEMENT, dated as of June 5, 2014, among FIFTH THIRD BANCORP, an Ohio corporation, WILMINGTON TRUST, NATIONAL ASSOCIATION, a
national banking association, as Depositary and Calculation Agent, AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, a New York limited liability company, as Transfer Agent and Registrar, and all holders from time to time of Receipts (as
hereinafter defined) issued hereunder. 
 WITNESSETH: 

WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of the Company’s
Preferred Stock (as hereinafter defined) with the Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of Depositary Shares representing a fractional interest in the Preferred Stock deposited and for the
execution and delivery of Receipts evidencing Depositary Shares; and 
 WHEREAS, the Receipts are to be substantially in the form of
Exhibit A annexed to this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit Agreement. 

NOW, THEREFORE, in consideration of the premises contained herein, it is agreed by and among the parties hereto as follows: 

ARTICLE I 
 DEFINITIONS

 The following definitions shall apply to the respective terms (in the singular and plural forms of such terms) used in this Deposit
Agreement and the Receipts: 
 SECTION 1.01. “Calculation Agent” shall have the meaning set forth in the Certificate of
Designation. 
 SECTION 1.02. “Certificate of Designation” shall mean the certificate that amends the Articles of
Incorporation of the Company, as amended, adopted by a duly authorized committee of the Board of Directors of the Company establishing and setting forth the rights, preferences and privileges of the Preferred Stock, as filed with the Secretary of
State of the State of Ohio on June 5, 2014 and attached hereto as Exhibit B, and as such certificate may be amended or restated from time to time. 

SECTION 1.03. “Certificate of Incorporation” shall mean the Articles of Incorporation, as amended, of the Company, as
restated or amended from time to time, including the amendment resulting from filing the Certificate of Designation. 
 SECTION 1.04.
“Preferred Stock, Series J” or “Preferred Stock” shall mean shares of the Company’s 4.90% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series J (liquidation preference $25,000 per share), no
par value, heretofore validly issued, fully paid and nonassessable. 

  
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 SECTION 1.05. “Common Stock” shall mean the common stock, no par value, of the
Company or any other shares of the capital stock of the Company into which such shares of common stock shall be reclassified or changed. 

SECTION 1.06. “Company” shall mean Fifth Third Bancorp, an Ohio corporation, and its successors. 

SECTION 1.07. “Deposit Agreement” shall mean this agreement, as the same may be amended, modified or supplemented from time
to time. 
 SECTION 1.08. “Depositary” shall mean Wilmington Trust, National Association, a national banking association
having its principal executive office in the United States and having a combined capital and surplus of at least $50,000,000, and any successor as depositary hereunder. 

SECTION 1.09. “Depositary Office” shall mean the principal office of the Depositary at which at any particular time its
business in respect of matters governed by this Deposit Agreement shall be administered, which at the date of this Deposit Agreement is located at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890. 

SECTION 1.10. “Depositary Share” shall mean the security representing a
1/25th ownership interest in a share of Preferred Stock deposited with the Depositary hereunder and the same proportionate interest in any and all other property received by the Depositary in
respect of such share of Preferred Stock and held under this Deposit Agreement, all as evidenced by the Receipts issued hereunder. The initial number of Depositary Shares issued equals 300,000. Subject to the terms of this Deposit Agreement, each
owner of a Depositary Share is entitled, proportionately, to all the rights, preferences and privileges of the Preferred Stock represented by such Depositary Share (including the dividend, voting, redemption, liquidation rights and other rights,
preferences and privileges contained in the Certificate of Designation). 
 SECTION 1.11. “Depositary’s Agent” shall
mean an agent appointed by the Depositary as provided, and for the purposes specified, in Section 7.05. 
 SECTION 1.12.
“DTC” means The Depository Trust Company. 
 SECTION 1.13. “DTC Receipt” has the meaning set forth in
Section 2.01. 
 SECTION 1.14. “Receipt” shall, as the context requires, mean (i) a receipt issued hereunder to
evidence one or more Depositary Shares, whether in definitive or temporary form, or (ii) a DTC Receipt, in each case substantially in the form set forth as Exhibit A hereto. 

SECTION 1.15. “Record date” shall mean the date fixed pursuant to Section 4.04. 

SECTION 1.16. “Record holder” or “holder” as applied to a Receipt shall mean the individual, entity or
person in whose name a Receipt is registered on the books maintained by the Depositary for such purpose. 
 SECTION 1.17.
“Redemption date” has the meaning set forth under Section 2.09. 

  
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 SECTION 1.18. “Redemption price” has the meaning set forth under
Section 2.09. 
 SECTION 1.19. “Registrar” shall mean American Stock Transfer & Trust Company, LLC or any
other entity appointed to register ownership and transfers of Receipts and the deposited Preferred Stock, as herein provided. 
 SECTION
1.20. “Reorganization Event” shall have the meaning set forth in the Certificate of Designation. 
 SECTION 1.21.
“Securities Act” shall mean the Securities Act of 1933, as amended. 
 SECTION 1.22. “Transfer Agent”
shall mean American Stock Transfer & Trust Company, LLC or any other entity appointed to transfer the Receipts and the deposited Preferred Stock, as herein provided. 

  
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 ARTICLE II 

FORM OF RECEIPTS, DEPOSIT OF PREFERRED STOCK, 

EXECUTION AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF 

RECEIPTS 
 SECTION 2.01.
Form and Transferability of Receipts. (a) Definitive Receipts shall be printed and shall be substantially in the form set forth in Exhibit A annexed to this Deposit Agreement, in each case with appropriate insertions,
modifications and omissions, as hereinafter provided. Pending the preparation of definitive Receipts, the Depositary, upon, and pursuant to, the written order of the Company delivered in compliance with Section 2.02 shall be authorized and
instructed to, and shall, execute and deliver temporary Receipts which shall be substantially of the tenor of the definitive Receipts in lieu of which they are issued and in each case with such appropriate insertions, omissions, substitutions and
other variations as the persons executing such Receipts may determine (but which do not affect the rights or duties of the Depositary), as evidenced by their execution of such Receipts. If temporary Receipts are issued, the Company and the
Depositary will cause definitive Receipts to be prepared without unreasonable delay. After the preparation of definitive Receipts, the temporary Receipts shall be exchangeable for definitive Receipts upon surrender of the temporary Receipts at the
Depositary Office without charge to the holder. Upon surrender for cancellation of any one or more temporary Receipts, the Depositary is hereby authorized and instructed to, and shall, execute and deliver in exchange therefor definitive Receipts
representing the same number of Depositary Shares as represented by the surrendered temporary Receipt or Receipts. Such exchange shall be made at the Company’s expense and without any charge therefor. Until so exchanged, the temporary Receipts
shall in all respects be entitled to the same benefits under this Deposit Agreement, and with respect to the Preferred Stock deposited, as definitive Receipts. 

(b) Receipts shall be executed by the Depositary by the manual or facsimile signature of a duly authorized signatory of the Depositary and
shall also be countersigned by manual or facsimile signature of a duly authorized signatory of the Registrar; provided that no such countersignature shall be required if the Depositary acts as the Registrar. No Receipt shall be entitled to any
benefits under this Deposit Agreement or be valid or obligatory for any purpose unless it shall have been executed as provided in the preceding sentence. The Depositary shall record on its books each Receipt executed as provided above and delivered
as hereinafter provided. Receipts bearing the manual or facsimile signature of a duly authorized signatory of the Depositary who was at any time a proper signatory of the Depositary shall bind the Depositary, notwithstanding that such signatory
ceased to hold such office prior to the execution and delivery of such Receipts by the Registrar or did not hold such office on the date of issuance of such Receipts. 

(c) Receipts shall be in denominations of any number of whole Depositary Shares. All Receipts shall be dated the date of their issuance.
Receipts may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Deposit Agreement as may be required by the Depositary and approved by the Company, or which the
Company has determined are required to comply with any applicable law or regulation or with the rules and regulations of any securities exchange upon which the Depositary Shares may be listed for trading or to conform with any usage with respect
thereto, or to indicate any special limitations or restrictions to which any particular Receipts are subject, in each case as directed by the Company. 

  
 4 

 (d) Title to any Receipt (and to the Depositary Shares evidenced by such Receipt) that is
properly endorsed, or accompanied by a properly executed instrument of transfer, or endorsement shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until transfer of a Receipt
shall be registered on the books of the Depositary as provided in Section 2.03, the Depositary may, notwithstanding any notice to the contrary, treat the record holder thereof at such time as the absolute owner thereof for the purpose of
determining the person entitled to distributions of dividends or other distributions or payments with respect to the Preferred Stock, to exercise any redemption or voting or to receive any notice provided for in this Deposit Agreement and for all
other purposes. 
 (e) Notwithstanding the foregoing, upon request by the Company, the Depositary and the Company will make application to
DTC for acceptance of all or a portion of the Receipts for its book-entry settlement system. In connection with any such request, the Company hereby appoints the Depositary acting through any authorized officer thereof as its attorney-in-fact, with
full power to delegate, for purposes of executing any agreements, certifications or other instruments or documents necessary or desirable in order to effect the acceptance of such Receipts for DTC eligibility. So long as the Receipts are eligible
for book-entry settlement with DTC, unless otherwise required by law, all Depositary Shares to be traded on the NASDAQ Global Select Market with book-entry settlement through DTC shall be represented by a single receipt (the “DTC
Receipt”), substantially in the form set forth in the attached Exhibit A, which shall be deposited with DTC (or its custodian) evidencing all such Depositary Shares and registered in the name of the nominee of DTC (initially expected to
be Cede & Co.). The Transfer Agent shall hold the DTC Receipt as custodian for DTC. Ownership of beneficial interests in the DTC Receipt shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i)
DTC or its nominee for such DTC Receipt, or (ii) institutions that have accounts with DTC. 
 (f) If issued, the DTC Receipt shall be
exchangeable for definitive Receipts only if (i) DTC notifies the Company at any time that it is unwilling or unable to continue to make its book-entry settlement system available for the Receipts and a successor to DTC is not appointed by the
Company within 90 days of the date the Company is so informed in writing, (ii) DTC notifies the Company at any time that it has ceased to be a clearing agency registered under applicable law and a successor to DTC is not appointed by the
Company within 90 days of the date the Company is so informed in writing or (iii) the Company executes and delivers to DTC a notice to the effect that such DTC Receipt shall be so exchangeable. If the beneficial owners of interests in
Depositary Shares are entitled to exchange such interests for definitive Receipts as the result of an event described in clause (i), (ii) or (iii) of the preceding sentence, then without unnecessary delay but in any event not later than
the earliest date on which such beneficial interests may be so exchanged, the Depositary is hereby directed to and shall provide written instructions to DTC to deliver to the Depositary for cancellation the DTC Receipt, and the Company shall
instruct the Depositary in writing to execute and deliver to the beneficial owners of the Depositary Shares previously evidenced by the DTC Receipt definitive Receipts in physical form evidencing such Depositary Shares. The DTC Receipt shall be in
such form and shall bear such legend or legends as may be appropriate or required by DTC in order for it to 

  
 5 

 
accept the Depositary Shares for its book-entry settlement system. Notwithstanding any other provision herein to the contrary, if the Receipts are at any time eligible for book-entry settlement
through DTC, delivery of shares of Preferred Stock and other property in connection with the withdrawal or redemption of Depositary Shares will be made through DTC and in accordance with its procedures, unless the holder of the relevant Receipt
otherwise requests and such request is reasonably acceptable to the Depositary and the Company. 
 SECTION 2.02. Deposit of Preferred
Stock; Execution and Delivery of Receipts in Respect Thereof. 
 (a) Concurrently with the execution of this Deposit Agreement, the
Company is delivering to the Depositary a certificate or certificates, registered in the name of the Depositary and evidencing 12,000 shares of Preferred Stock, properly endorsed or accompanied, if required by the Depositary, by a duly executed
instrument of transfer or endorsement, in form satisfactory to the Depositary, together with (i) all such certifications as may be required by the Depositary in accordance with the provisions of this Deposit Agreement and (ii) a written
order of the Company directing the Depositary to execute and deliver to, or upon the written order of, the person or persons stated in such order a Receipt or Receipts for the Depositary Shares representing such deposited Preferred Stock registered
in such names specified in such written order. The Depositary acknowledges receipt of the aforementioned 12,000 shares of Preferred Stock and related documentation and agrees to hold such deposited Preferred Stock in an account to be established by
the Depositary at the Depositary Office or at such other office as the Depositary shall determine. The Company hereby appoints American Stock Transfer & Trust Company, LLC as the Registrar and Transfer Agent for the Preferred Stock
deposited hereunder and American Stock Transfer & Trust Company, LLC hereby accepts such appointment and, as such, will reflect changes in the number of shares (including any fractional shares) of deposited Preferred Stock held by the
Depositary by notation, book-entry or other appropriate method. 
 (b) If required by the Depositary, Preferred Stock presented for deposit
by the Company at any time, whether or not the register of stockholders of the Company is closed, shall also be accompanied by an agreement or assignment, or other instrument satisfactory to the Depositary, that will provide for the prompt transfer
to the Depositary or its nominee of any dividend or right to receive other property that any person in whose name the Preferred Stock is or has been registered may thereafter receive upon or in respect of such deposited Preferred Stock, or in lieu
thereof such agreement of indemnity or other agreement as shall be satisfactory to the Depositary. 
 (c) Upon receipt by the Depositary of
a certificate or certificates for Preferred Stock deposited hereunder, together with the other documents specified above, and upon registering such Preferred Stock in the name of the Depositary, the Depositary, subject to the terms and conditions of
this Deposit Agreement, shall execute and deliver to, or upon the order of, the person or persons named in the written order delivered to the Depositary referred to in Section 2.02(a), a Receipt or Receipts for the number of whole Depositary
Shares representing the Preferred Stock so deposited and registered in such name or names as may be requested by such person or persons. The Depositary shall execute and deliver such Receipt or Receipts at the Depositary Office, except that, at the
request, risk and expense of any person requesting such delivery, such delivery may be made at such other place as may be designated by such person. 

  
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Other than in the case of splits, combinations or other reclassifications affecting the Preferred Stock, or in the case of dividends or other distributions of Preferred Stock, if any, there shall
be deposited hereunder not more than the number of shares constituting the Preferred Stock as set forth in the Certificate of Designation, as such may be amended. To the extent that the Company issues shares of Preferred Stock in excess of the
amount set forth in the Certificate of Designation as of the date hereof (which shares have been validly authorized by the Company), the Company shall notify the Depositary of such issuance in writing. 

(d) The Company shall deliver to the Depositary from time to time such quantities of Receipts as the Depositary may request to enable the
Depositary to perform its obligations under this Deposit Agreement. 
 SECTION 2.03. Registration of Transfers of Receipts.

 The Company hereby appoints American Stock Transfer & Trust Company, LLC as the Registrar and Transfer Agent for the Receipts
and American Stock Transfer & Trust Company, LLC hereby accepts such appointment and, as such, shall register on its books from time to time transfers of Receipts upon any surrender thereof by the holder in person or by a duly authorized
attorney, agent or representative properly endorsed or accompanied by a properly executed instrument of transfer or endorsement, together with evidence of the payment by the applicable party of any transfer taxes as may be required by law. Upon such
surrender, the Depositary shall execute a new Receipt or Receipts and deliver the same to or upon the order of the person entitled thereto evidencing the same aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered.

 SECTION 2.04. Combinations and Split-ups of Receipts. 

Upon surrender of a Receipt or Receipts at the Depositary Office or such other office as the Depositary may designate for the purpose of
effecting a split-up or combination of Receipts, subject to the terms and conditions of this Deposit Agreement, the Depositary shall execute and deliver a new Receipt or Receipts in the authorized denominations requested evidencing the same
aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered. 
 SECTION 2.05. Surrender of Receipts and
Withdrawal of Preferred Stock. 
 (a) Any holder of a Receipt or Receipts may withdraw any number of whole shares of deposited
Preferred Stock represented by the Depositary Shares evidenced by such Receipt or Receipts and all money and other property, if any, represented by such Depositary Shares by surrendering such Receipt or Receipts to the Depositary or at such other
office as the Depositary may designate for such withdrawals; provided, that a holder of a Receipt or Receipts may not withdraw such Preferred Stock (or money and other property, if any, represented thereby) which has previously been called for
redemption. Upon such surrender, upon payment of the fee of the Depositary for the surrender of Receipts to the extent provided in Section 5.13 and payment of all taxes and governmental charges in connection with such surrender and withdrawal
of Preferred Stock, and subject to the terms and conditions of this Deposit Agreement, without unreasonable delay, the Depositary shall deliver to such holder, or to the person or persons designated by such holder as hereinafter provided, the number
of whole shares of such Preferred 

  
 7 

 
Stock and all such money and other property, if any, represented by the Depositary Shares evidenced by the Receipt or Receipts so surrendered for withdrawal, but holders of such whole shares of
Preferred Stock will not thereafter be entitled to deposit such Preferred Stock hereunder or to receive Depositary Shares therefor. If the Receipt or Receipts delivered by the holder to the Depositary in connection with such withdrawal shall
evidence a number of Depositary Shares in excess of the number of Depositary Shares representing the number of whole shares of deposited Preferred Stock to be withdrawn, the Depositary shall at the same time, in addition to such number of whole
shares of Preferred Stock and such money and other property, if any, to be withdrawn, deliver to such holder, or (subject to Section 2.03) upon his order, a new Receipt or Receipts evidencing such excess number of Depositary Shares. Delivery of
such Preferred Stock and such money and other property being withdrawn may be made by the delivery of such certificates, documents of title and other instruments as the Depositary may deem appropriate, which, if required by the Depositary, shall be
properly endorsed or accompanied by proper instruments of transfer. 
 (b) If the deposited Preferred Stock and the money and other property
being withdrawn are to be delivered to a person or persons other than the record holder of the Receipt or Receipts being surrendered for withdrawal of Preferred Stock, such holder shall execute and deliver to the Depositary a written order so
directing the Depositary and the Depositary may require that the Receipt or Receipts surrendered by such holder for withdrawal of such shares of Preferred Stock be properly endorsed in blank or accompanied by a properly executed instrument of
transfer or endorsement in blank. 
 (c) The Depositary shall deliver the deposited Preferred Stock and the money and other property, if
any, represented by the Depositary Shares evidenced by Receipts surrendered for withdrawal at the Depositary Office, except that, at the request, risk and expense of the holder surrendering such Receipt or Receipts and for the account of the holder
thereof, such delivery may be made at such other place as may be designated by such holder. 
 SECTION 2.06. Limitations on Execution
and Delivery, Transfer, Split-up. Combination, Surrender and Exchange of Receipts. 
 (a) As a condition precedent to the execution
and delivery, transfer, split-up, combination, surrender or exchange of any Receipt, the Depositary, any of the Depositary’s Agents or the Company may require any or all of the following: (i) payment to it of a sum sufficient for the
payment (or, in the event that the Company shall have made such payment, the reimbursement to it) of any tax or other governmental charge and stock transfer or registration fee with respect thereto (including any such tax or charge with respect to
the Preferred Stock being deposited or withdrawn); (ii) the production of proof satisfactory to it as to the identity and genuineness of any signature (or the authority of any signature); and (iii) compliance with such regulations, if any,
as the Depositary or the Company may establish consistent with the provisions of this Deposit Agreement as may be required by any securities exchange on which the deposited Preferred Stock, the Depositary Shares or the Receipts may be included for
quotation or listed. 
 (b) The deposit of Preferred Stock may be refused, the delivery of Receipts against Preferred Stock may be
suspended, the transfer of Receipts may be refused, and the transfer, 

  
 8 

 
split-up, combination, surrender, exchange or redemption of outstanding Receipts may be suspended (i) during any period when the register of stockholders of the Company is closed or
(ii) if any such action is deemed reasonably necessary or advisable by the Depositary, any of the Depositary’s Agents or the Company at any time or from time to time because of any requirement of law or of any government or governmental
body or commission, or under any other provision of this Deposit Agreement. 
 SECTION 2.07. Lost Receipts, etc. 

In case any Receipt shall be mutilated and surrendered to the Depositary or destroyed or lost or stolen, the Depositary shall execute and
deliver a Receipt of like form and tenor in exchange and substitution for such mutilated Receipt or in lieu of and in substitution for such destroyed, lost or stolen Receipt; provided, that the holder thereof shall have (a) filed with the
Depositary (i) a request for such execution and delivery before the Depositary has notice that the Receipt has been acquired by a protected purchaser and (ii) an indemnity bond and (b) satisfied any other reasonable requirements
imposed by the Depositary. 
 SECTION 2.08. Cancellation and Destruction of Surrendered Receipts. 

 
 All Receipts surrendered to the Depositary or any Depositary’s Agent
shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary is authorized, but not required, to destroy such Receipts so cancelled. 

SECTION 2.09. Optional Redemption of Preferred Stock for Cash. 

(a) Subject to receiving all required regulatory approvals, the Company may redeem the Preferred Stock at its option, in whole or in part, at
any time, or from time to time, on or after September 30, 2019. There will be no sinking fund for the redemption or purchase of the Preferred Stock or the Depositary Shares. No holder of the Preferred Stock or of the Depositary Shares will have
the right to require the redemption of the Preferred Stock. 
 (b) Whenever the Company shall elect to redeem shares of deposited Preferred
Stock for cash at its option in accordance with the provisions of the Certificate of Designation, it shall (unless otherwise agreed in writing with the Depositary) give the Depositary not less than 30 and not more than 60 days’ prior written
notice of the date fixed for redemption of such Preferred Stock (the “redemption date”) and of the number of such shares of Preferred Stock held by the Depositary to be redeemed and the applicable redemption price (the “redemption
price”), as set forth in the Certificate of Designation. The Depositary shall mail through electronic mail or first-class postage prepaid mail, notice of the redemption of Preferred Stock and the proposed simultaneous redemption of the
Depositary Shares representing the Preferred Stock to be redeemed, not less than 30 and not more than 60 days prior to the redemption date, to the holders of record on the record date fixed for such redemption pursuant to Section 4.04 of the
Receipts evidencing the Depositary Shares to be so redeemed, at the addresses of such holders as the same appear on the records of the Depositary; but neither the failure to mail any such notice to one or more such holder nor any defect in any such
notice shall affect the sufficiency of the proceedings for redemption except as to the holder to whom notice was defective or not given. 

  
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 (c) In connection with any redemption of the Preferred Stock at the option of the Company in
accordance with the Certificate of Designation, the Company shall deliver an Officers’ Certificate to the Depositary and the Calculation Agent stating that it has complied with all of the conditions to the exercise of its optional redemption
rights set forth in the Certificate of Designation, and the Depositary shall have no duty or obligation to inquire or investigate whether the Company has complied with the terms of the Certificate of Designation. 

(d) The Company shall also prepare and provide the Depositary with the notice provided for in Section 2.09(b), and each such notice shall
state: (i) the redemption date; (ii) the redemption price; (iii) the number of shares of deposited Preferred Stock and Depositary Shares to be redeemed; (iv) if fewer than all Depositary Shares held by any holder are to be
redeemed, the number of such Depositary Shares held by such holder to be so redeemed; and (v) the place or places where the Preferred Stock and the Receipts evidencing Depositary Shares to be redeemed are to be surrendered for payment of the
redemption price. 
 (e) In the event that notice of redemption has been made as described in the immediately preceding paragraphs and the
Company shall then have paid in full to the Depositary the redemption price (determined pursuant to the Certificate of Designation) of the Preferred Stock deposited with the Depositary to be redeemed, the Depositary shall redeem the number of
Depositary Shares representing such Preferred Stock so called for redemption by the Company and on the redemption date (unless the Company shall have failed to pay for the shares of Preferred Stock to be redeemed by it as set forth in the
Company’s notice provided for in the preceding paragraph), the Depositary Shares called for redemption shall be deemed no longer to be outstanding and all rights of the holders of Receipts evidencing such Depositary Shares (except the right to
receive the redemption price) shall, to the extent of such Depositary Shares, cease and terminate. Upon surrender in accordance with said notice of the Receipts evidencing such Depositary Shares (properly endorsed or assigned for transfer, if the
Depositary shall so require), such Depositary Shares shall be redeemed at a cash redemption price of $1,000 per Depositary Share, plus an amount equal to any declared but unpaid dividends to, but excluding, the redemption date, without accumulation
of any undeclared dividends. The foregoing shall be further subject to the terms and conditions of the Certificate of Designation. 
 (f) In
the event of any conflict between the provisions of the Deposit Agreement and the provisions of the Certificate of Designation, the provisions of the Certificate of Designation will govern and the Company will instruct the Depositary in writing
accordingly of such governing terms; provided, however, that under no circumstances will the Certificate of Designation be deemed to change or modify any of the rights, duties or immunities of the Depositary contained herein. 

(g) If fewer than all of the Depositary Shares evidenced by a Receipt are called for redemption, the Depositary will deliver to the holder of
such Receipt upon its surrender to the Depositary, together with payment of the redemption price for and all other amounts payable in respect of the Depositary Shares called for redemption, a new Receipt evidencing the Depositary Shares evidenced by
such prior Receipt and not called for redemption. 
 (h) If less than all of the Preferred Stock is redeemed pursuant to the Company’s
exercise of its optional redemption right, the Depositary will select the Depositary Shares to be redeemed pursuant to this Section 2.09 on a pro rata basis, by lot or in such other manner as the Depositary may determine to be fair and
equitable. 

  
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 SECTION 2.10. Redemption Upon a Regulatory Capital Event. 

(a) Subject to receiving all required regulatory approvals, the Company may redeem the Preferred Stock at its option, in whole, but not in
part, at any time prior to September 30, 2019, following the occurrence of a “regulatory capital event,” as defined in the Certificate of Designation. There will be no sinking fund for the redemption or purchase of the Preferred Stock
or the Depositary Shares. No holder of the Preferred Stock or of the Depositary Shares will have the right to require the redemption of the Preferred Stock. 

(b) Whenever the Company shall elect to redeem shares of deposited Preferred Stock pursuant to a regulatory capital event in accordance with
the provisions of the Certificate of Designation, the Company shall (unless otherwise agreed in writing with the Depositary) give the Depositary not less than 30 and not more than 60 days’ prior written notice of the redemption date and of the
number of such shares of Preferred Stock held by the Depositary to be redeemed and the applicable redemption price, as set forth in the Certificate of Designation. The Depositary shall mail as soon as reasonably practicable, by electronic mail or
first-class postage prepaid mail, notice of the redemption of Preferred Stock and the proposed simultaneous redemption of the Depositary Shares representing the Preferred Stock to be redeemed to the holders of record on the record date fixed for
such redemption pursuant to Section 4.04 of the Receipts evidencing the Depositary Shares to be so redeemed, at the addresses of such holders as the same appear on the records of the Depositary; but neither the failure to mail any such notice
to one or more such holder nor any defect in any such notice shall affect the sufficiency of the proceedings for redemption except as to the holder to whom notice was defective or not given. 

(c) In connection with any redemption of the Preferred Stock at the option of the Company upon a regulatory capital event in accordance with
the Certificate of Designation, the Company shall deliver an Officers’ Certificate to the Depositary and the Calculation Agent stating that it has complied with all of the conditions to the exercise of its optional redemption rights upon a
regulatory capital event set forth in the Certificate of Designation, and the Depositary shall have no duty or obligation to inquire or investigate whether the Company has complied with the terms of the Certificate of Designation. 

(d) The Company shall prepare and provide the Depositary with the notice provided for in Section 2.10(b), and each such notice shall
state: (i) the regulatory capital event; (ii) the redemption date; (iii) the redemption price; (iv) the number of shares of deposited Preferred Stock and Depositary Shares to be redeemed; and (v) the place or places where
the Preferred Stock and the Receipts evidencing Depositary Shares to be redeemed are to be surrendered for payment of the redemption price. 

(e) In the event that notice of redemption has been made as described in the immediately preceding paragraphs and the Company shall then have
paid in full to the Depositary the redemption price (determined pursuant to the Certificate of Designation) of the Preferred Stock deposited with the Depositary to be redeemed, the Depositary shall redeem the number of Depositary Shares representing
such Preferred Stock so called for redemption by the 

  
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Company and on the redemption date (unless the Company shall have failed to pay for the shares of Preferred Stock to be redeemed by it as set forth in the Company’s notice provided for in
the preceding paragraph), the Depositary Shares called for redemption shall be deemed no longer to be outstanding and all rights of the holders of Receipts evidencing such Depositary Shares (except the right to receive the redemption price) shall,
to the extent of such Depositary Shares, cease and terminate. Upon surrender in accordance with said notice of the Receipts evidencing such Depositary Shares (properly endorsed or assigned for transfer, if the Depositary shall so require), such
Depositary Shares shall be redeemed at a cash redemption price of $1,000 per Depositary Share, plus an amount equal to any declared but unpaid dividends to, but excluding, the redemption date, without accumulation of any undeclared dividends. The
foregoing shall be further subject to the terms and conditions of the Certificate of Designation. 
 (f) In the event of any conflict
between the provisions of the Deposit Agreement and the provisions of the Certificate of Designation, the provisions of the Certificate of Designation will govern and the Company will instruct the Depositary in writing accordingly of such governing
terms; provided, however, that under no circumstances will the Certificate of Designation be deemed to change or modify any of the rights, duties or immunities of the Depositary contained herein. 

SECTION 2.11. No Pre-Release. 

The Depositary shall not deliver any deposited Preferred Stock evidenced by Receipts prior to the receipt and cancellation of such Receipts or
other similar method used with respect to Receipts held by DTC. The Depositary shall not issue any Receipts prior to the receipt by the Depositary of the corresponding Preferred Stock represented by the Depositary Shares evidenced by such Receipts.
At no time will any Receipts be outstanding if such Receipts do not evidence the Depositary Shares representing Preferred Stock deposited with the Depositary. 

  
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 ARTICLE III 

CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY 

SECTION 3.01. Filing Proofs, Certificates and Other Information. 

Any holder of a Receipt may be required from time to time to file with the Depositary such proof of residence, guarantee of signature or other
information and to execute such certificates as the Depositary may reasonably deem necessary or proper or the Company may reasonably require by written request to the Depositary. The Depositary or the Company may withhold or delay the delivery of
any Receipt, the transfer, redemption or exchange of any Receipt, the withdrawal of the deposited Preferred Stock represented by the Depositary Shares evidenced by any Receipt, the distribution of any dividend or other distribution or the sale of
any rights or of the proceeds thereof, until such proof or other information is filed, or such certificates are executed. 
 SECTION 3.02.
Payment of Fees and Expenses. 
 Holders of Receipts shall be obligated to make payments to the Depositary of certain fees and
expenses and taxes or other governmental charges to the extent provided in Section 5.13, or provide evidence satisfactory to the Depositary that such fees and expenses and taxes or other governmental charges have been paid. Until such payment
is made, transfer of any Receipt or any withdrawal of the Preferred Stock or money or other property, if any, represented by the Depositary Shares evidenced by such Receipt may be refused, any dividend or other distribution may be withheld, and any
part or all of the Preferred Stock or other property represented by the Depositary Shares evidenced by such Receipt may be sold for the account of the holder thereof (after attempting by reasonable means to notify such holder a reasonable number of
days prior to such sale). Any dividend or other distribution so withheld and the proceeds of any such sale may be applied to any payment of such fees or expenses, the holder of such Receipt remaining liable for any deficiency. 

SECTION 3.03. Representations and Warranties as to Preferred Stock. 

In the case of the initial deposit of the Preferred Stock hereunder, the Company represents and warrants that such Preferred Stock and each
certificate therefor are validly issued, fully paid and nonassessable. Such representations and warranties shall survive the deposit of the Preferred Stock and the issuance of Receipts. 

SECTION 3.04. Representation and Warranty as to Receipts and Depositary Shares. 

The Company hereby represents and warrants that the Receipts, when issued, will evidence legal and valid interests in the Depositary Shares
and each Depositary Share will represent a legal and valid 1/25th ownership interest in a share of deposited Preferred Stock represented by such Depositary Share. Such representation and warranty
shall survive the deposit of the Preferred Stock and the issuance of Receipts evidencing the Depositary Shares. 

  
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 SECTION 3.05. Taxes. 

The Company will pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any issuance or
delivery of Depositary Shares or shares of Preferred Stock, Common Stock or other securities issued on account of Depositary Shares or certificates representing such shares or securities. The Company will not, however, be required to pay any such
tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Preferred Stock, Depositary Shares, shares of Common Stock or other securities in a name other than that in which the Depositary Shares with respect
to which such shares or other securities are issued or delivered were registered, or in respect of any payment to any person other than a payment to the registered holder thereof, and will not be required to make any such issuance, delivery or
payment unless and until the person otherwise entitled to such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable.

  
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 ARTICLE IV 

THE PREFERRED STOCK; NOTICES 

SECTION 4.01. Cash Distributions. 

Whenever the Depositary shall receive any cash dividend or other cash distribution on the deposited Preferred Stock, including any cash
received upon redemption of any shares of Preferred Stock pursuant to Section 2.09 or Section 2.10, the Depositary shall, subject to Section 3.02, distribute to record holders of Receipts on the record date fixed pursuant to
Section 4.04 such amounts of such sum as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such holders; provided, however, that in case the Company or the Depositary
shall be required by law to and shall withhold from any cash dividend or other cash distribution in respect of the Preferred Stock represented by the Receipts held by any holder an amount on account of taxes or as otherwise required by law,
regulation or court process, the amount made available for distribution or distributed in respect of Depositary Shares represented by such Receipts subject to such withholding shall be reduced accordingly. The Depositary, however, shall distribute
or make available for distribution, as the case may be, only such amount as can be distributed without attributing to any holder of Receipts a fraction of one cent. Any such fractional amounts shall be rounded down to the nearest whole cent and so
distributed to registered holders entitled thereto and any balance not so distributable shall be held by the Depositary (without liability for interest thereon) and shall be added to and be treated as part of the next succeeding distribution to
record holders of such Receipts. Each holder of a Receipt shall provide the Depositary with a properly completed Form W-8 (i.e., Form W-8BEN, Form W-8EXP, Form W-8IMY, Form W8ECI or another applicable Form W-8) or Form W-9 (which form shall set
forth such holder’s certified taxpayer identification number if requested on such form), as may be applicable. Each holder of a Receipt acknowledges that, in the event of non-compliance with the preceding sentence the Internal Revenue Code of
1986 as amended, may require withholding by the Depositary of a portion of any of the distribution to be made hereunder. 
 SECTION 4.02.
Distributions Other Than Cash. 
 Whenever the Depositary shall receive any distribution other than cash on the deposited
Preferred Stock, the Depositary shall, subject to Section 3.02, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.04 such amounts of the securities or property received by it as are, as nearly as
practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such holders, in any manner that the Depositary and the Company may deem equitable and practicable for accomplishing such distribution. The
Depositary shall not make any distribution of securities to the holders of Receipts unless the Company shall have provided to the Depositary an opinion of counsel stating that such securities have been registered under the Securities Act or do not
need to be registered. 
 SECTION 4.03. Rights, Preferences or Privileges. 

(a) If the Company shall at any time offer or cause to be offered to the persons in whose names deposited Preferred Stock is registered on the
books of the Company any rights, 

  
 15 

 
preferences or privileges of any nature, such rights, preferences or privileges shall in each such instance be made available by the Depositary to the record holders of Receipts in such manner as
the Company shall instruct (including by the issue to such record holders of warrants representing such rights, preferences or privileges); provided, however, that (a) if at the time of issue or offer of any such rights, preferences or
privileges the Company determines upon advice of its legal counsel that it is not lawful or feasible to make such rights, preferences or privileges available to the holders of Receipts (by the issue of warrants or otherwise) or (b) if and to
the extent instructed by holders of Receipts who do not desire to exercise such rights, preferences or privileges, the Depositary shall then, if so directed by the Company and provided with an opinion of counsel that if the Depositary undertakes
such actions it will not be deemed an “issuer” under the Securities Act or an “investment company” under the Investment Company Act of 1940, as amended, and if applicable laws or the terms of such rights, preferences or
privileges so permit, sell such rights, preferences or privileges of such holders at public or private sale, at such place or places and upon such terms as it may deem proper. The net proceeds of any such sale shall, subject to Section 3.01 and
Section 3.02, be distributed by the Depositary to the record holders of Receipts entitled thereto as provided by Section 4.01 in the case of a distribution received in cash. The Depositary shall not make any distribution of such rights,
preferences or privileges, unless the Company shall have provided to the Depositary an opinion of counsel stating that such rights, preferences or privileges have been registered under the Securities Act or do not need to be registered. 

(b) If registration under the Securities Act of the securities to which any rights, preferences or privileges relate is required in order for
holders of Receipts to be offered or sold the securities to which such rights, preferences or privileges relate, the Company agrees that it will promptly notify the Depositary of such requirement, that it will promptly file a registration statement
pursuant to the Securities Act with respect to such rights, preferences or privileges and securities and use its commercially reasonable efforts and take all steps available to it to cause such registration statement to become effective sufficiently
in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise such rights, preferences or privileges. In no event shall the Depositary make available to the holders of Receipts any right, preference or
privilege unless and until such a registration statement shall have become effective or unless the offering and sale of such securities to such holders are exempt from registration under the provisions of the Securities Act and the Company shall
have provided to the Depositary an opinion of counsel to such effect. 
 (c) If any other action under the law of any jurisdiction or any
governmental or administrative authorization, consent or permit is required in order for such rights, preferences or privileges to be made available to holders of Receipts, the Company agrees that it will promptly notify the Depositary of such
requirement and to use its commercially reasonable efforts to take such action or obtain such authorization, consent or permit sufficiently in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise
such rights, preferences or privileges. 
 (d) The Depositary will not be deemed to have any knowledge of any item for which it is supposed
to receive notification under any Section of this Deposit Agreement unless and until it has received such notification. 

  
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 SECTION 4.04. Notice of Dividends; Fixing of Record Date for Holders of Receipts.

 Whenever any cash dividend or other cash distribution shall become payable, any distribution other than cash shall be made, or any
rights, preferences or privileges shall at any time be offered, with respect to the deposited Preferred Stock, or whenever the Depositary shall receive notice of (i) any meeting at which holders of such Preferred Stock are entitled to vote or
of which holders of such Preferred Stock are entitled to notice or (ii) any election on the part of the Company to redeem any shares of such Preferred Stock, the Depositary shall in each such instance fix a record date (which shall be the same
date as the record date fixed by the Company with respect to the Preferred Stock) for the determination of the holders of Receipts who shall be entitled to receive such dividend, distribution, rights, preferences or privileges or the net proceeds of
the sale thereof, to give instructions for the exercise of voting rights at any such meeting or to receive notice of such meeting or whose Depositary Shares are to be so redeemed. 

SECTION 4.05. Voting Rights. 

Upon receipt of notice of any meeting at which the holders of deposited Preferred Stock are entitled to vote, the Depositary shall, as soon as
practicable thereafter, mail to the record holders of Receipts a notice, by electronic mail or first-class postage prepaid mail, which shall be provided by the Company and which shall contain (i) such information as is contained in such notice
of meeting, (ii) a statement that the holders of Receipts at the close of business on a specified record date fixed pursuant to Section 4.04 will be entitled, subject to any applicable provision of law, to instruct the Depositary as to the
exercise of the voting rights pertaining to the amount of Preferred Stock represented by their respective Depositary Shares and (iii) a brief statement as to the manner in which such instructions may be given. Upon the request of a holder of a
Receipt on such record date, the Depositary shall insofar as practicable vote or cause to be voted the amount of Preferred Stock represented by the Depositary Shares evidenced by such Receipt in accordance with the instructions set forth in such
request. To the extent any such instructions request the voting of a fractional interest of a share of deposited Preferred Stock, the Depositary shall aggregate such interest with all other fractional interests resulting from requests with the same
voting instructions and shall vote the number of whole votes resulting from such aggregation in accordance with the instructions received in such requests. Each share of Preferred Stock is entitled to one vote and, accordingly, each Depositary Share
is entitled to 1/25th of a vote. The Company hereby agrees to take all reasonable action that may be deemed necessary by the Depositary in order to enable the Depositary to vote such Preferred
Stock or cause such Preferred Stock to be voted. In the absence of specific instructions from the holder of a Receipt, the Depositary will not vote the amount of Preferred Stock represented by such Depositary Shares. The Depositary shall not
exercise any discretion in voting any Preferred Stock represented by the Depositary Shares evidenced by such Receipt. 
 SECTION 4.06.
Changes Affecting Preferred Stock and Reorganization Events. 
 Upon any change in liquidation preference, par or stated
value, split-up, combination or any other reclassification of the Preferred Stock, any Reorganization Event or any exchange of the Preferred Stock for cash, securities or other property, the Depositary shall, upon the written instructions of the
Company setting forth any of the following adjustments, (i) reflect such adjustments in the Depositary’s books and records in the fraction of an interest represented by 

  
 17 

 
one Depositary Share in one share of Preferred Stock as may be required by or as is consistent with the provisions of the Certificate of Designation to fully reflect the effects of such change in
liquidation preference, par or stated value, split-up, combination or other reclassification of Preferred Stock, of such Reorganization Event or of such exchange and (ii) treat any shares of stock or other securities or property (including
cash) that shall be received by the Depositary in exchange for or in respect of the Preferred Stock as new deposited property under this Deposit Agreement, and Receipts then outstanding shall thenceforth represent the proportionate interests of
holders thereof in the new deposited property so received in exchange for or in respect of such Preferred Stock. In any such case the Depositary may, upon the receipt of written request of the Company, execute and deliver additional Receipts, or may
call for the surrender of all outstanding Receipts to be exchanged for new Receipts specifically describing such new deposited property. 

SECTION 4.07. Inspection of Reports. 

The Depositary shall make available for inspection by holders of Receipts at the Depositary Office and at such other places as it may from
time to time deem advisable during normal business hours any reports and communications received from the Company that are both received by the Depositary as the holder of deposited Preferred Stock and made generally available to the holders of the
Preferred Stock. In addition, the Depositary shall transmit, upon written request by the Company, certain notices and reports to the holders of Receipts as provided in Section 5.11. 

SECTION 4.08. Lists of Receipt Holders. 

Promptly upon request from time to time by the Company, the Registrar shall furnish to the Company a list, as of a recent date specified by
the Company, of the names, addresses and holdings of Depositary Shares of all persons in whose names Receipts are registered on the books of the Registrar. 

SECTION 4.09. Withholding. 

Notwithstanding any other provision of this Deposit Agreement, in the event that the Depositary determines that any distribution in property
is subject to any tax or other governmental charge which the Depositary is obligated by law to withhold, the Depositary may dispose of, by public or private sale, all or a portion of such property in such amounts and in such manner as the Depositary
deems necessary and practicable to pay such taxes, and the Depositary shall distribute the net proceeds of any such sale or the balance of any such property after deduction of such taxes to the holders of Receipts entitled thereto in proportion to
the number of Depositary Shares held by them, respectively; provided, however, that in the event the Depositary determines that such distribution of property is subject to withholding tax only with respect to some but not all holders of Receipts,
the Depositary will use its best efforts (i) to sell only that portion of such property distributable to such holders that is required to generate sufficient proceeds to pay such withholding tax and (ii) to effect any such sale in such a
manner so as to avoid affecting the rights of any other holders of Receipts to receive such distribution in property. 

  
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 ARTICLE V 

THE DEPOSITARY AND THE COMPANY 

SECTION 5.01. Appointment of Calculation Agent. 

The Company hereby appoints Wilmington Trust, National Association as Calculation Agent with respect to the Preferred Stock. The Calculation
Agent hereby accepts its appointment for the purposes of calculating the dividend rate of the Preferred Stock for each dividend payment period, upon the terms and conditions set forth herein. 

SECTION 5.02. Calculation of Dividend Rate. 

The Calculation Agent shall calculate the dividend rate of the Preferred Stock for each dividend payment period in accordance with the
Company’s Certificate of Incorporation and shall communicate the same to the Company on the LIBOR determination date (as defined in the Certificate of Incorporation) for each dividend payment period. The Company shall communicate such rate to
the Transfer Agent for the Preferred Stock. 
 SECTION 5.03. Status of Calculation Agent. 

Any acts taken by the Calculation Agent under this Agreement or in connection with the Preferred Stock including, specifically, but without
limitation, the calculation of any dividend rate for the Preferred Stock, shall be deemed to have been taken by the Calculation Agent solely in its capacity as an agent acting on behalf of the Company and shall not create or imply any obligation to,
or any trust or agency relationship with, any of the beneficial owners or holders of the Receipts. 
 SECTION 5.04. Notice of Dividend
Rate. 
 To the extent the Depositary is not the Calculation Agent, the Company shall notify the Depositary of the dividend rate on
the LIBOR determination date (as defined in the Certificate of Incorporation). 
 SECTION 5.05. Rights, Protections, Privileges and
Indemnities of Calculation Agent. 
 The Calculation Agent shall be entitled to all of the rights, protections, privileges and
indemnities as are granted to the Depositary pursuant to this Deposit Agreement. 
 SECTION 5.06. Maintenance of Offices, Agencies and
Transfer Books by the Depositary and the Registrar. 
 (a) The Depositary shall maintain at the Depositary Office facilities for the
execution and delivery, transfer, surrender and exchange, split-up, combination and redemption of Receipts and deposit and withdrawal of Preferred Stock and at the offices of the Depositary’s Agents, if any, facilities for the delivery,
transfer, surrender and exchange, split-up, combination and redemption of Receipts and deposit and withdrawal of Preferred Stock, all in accordance with the provisions of this Deposit Agreement. 

  
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 (b) The Registrar shall keep books at the Depositary Office for the registration and transfer of
Receipts, which books at all reasonable times shall be open for inspection by the record holders of Receipts as provided by applicable law. The Company may cause the Registrar to close such books, at any time or from time to time, when deemed
expedient by it in connection with the performance of its duties hereunder. 
 (c) If the Receipts or the Depositary Shares evidenced
thereby or the Preferred Stock represented by such Depositary Shares shall be listed on the NASDAQ Global Select Market or any other stock exchange, the Depositary and the Company hereby appoint the Registrar to serve as the registrar for
registration of such Receipts or Depositary Shares in accordance with the requirements of such exchange. The Registrar may be removed from serving as the registrar for registration of the Receipts or Depositary Shares in accordance with the
requirements of the listing stock exchange by the Depositary or the Company, in which case the Company shall appoint a substitute registrar. If the Receipts, such Depositary Shares or such Preferred Stock are listed on one or more other stock
exchanges, the Registrar will, at the request and expense of the Company, arrange such facilities for the delivery, transfer, surrender, redemption and exchange of such Receipts, such Depositary Shares or such Preferred Stock as may be required by
law or applicable stock exchange regulations. 
 SECTION 5.07. Prevention or Delay in Performance by the Depositary, the
Depositary’s Agents, the Registrar or the Company. 
 None of the Depositary, any Depositary’s Agent, any Registrar, any
Transfer Agent, or the Company shall incur any liability to any holder of any Receipt, if by reason of any provision of any present or future law or regulation thereunder of the United States of America or of any other governmental authority or, in
the case of the Depositary, the Depositary’s Agent or the Registrar or Transfer Agent, by reason of any provision, present or future, of the Certificate of Incorporation or, in the case of the Company, the Depositary, the Depositary’s
Agent, the Transfer Agent or the Registrar, by reason of any act of God or war or other circumstance beyond the control of the relevant party, the Depositary, any Depositary’s Agent, the Transfer Agent, the Registrar or the Company shall be
prevented or forbidden from doing or performing any act or thing that the terms of this Deposit Agreement provide shall be done or performed; nor shall the Depositary, any Depositary’s Agent, the Transfer Agent, any Registrar or the Company
incur any liability to any holder of a Receipt by reason of any nonperformance or delay, caused as aforesaid, in the performance of any act or thing that the terms of this Deposit Agreement provide shall or may be done or performed, or by reason of
any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement. 
 SECTION 5.08. Obligations of the
Depositary, the Depositary’s Agents, the Registrar and the Company. 
 (a) Except as otherwise provided by this Deposit
Agreement (including without limitation Section 5.12), the Company does not assume any obligation or shall be subject to any liability under this Deposit Agreement or any Receipt to holders of Receipts other than from acts

  
 20 

 
or omissions arising out of conduct constituting bad faith, gross negligence or willful misconduct in the performance of such duties as are specifically set forth in this Deposit Agreement.
Neither the Depositary nor any Depositary’s Agent nor any Transfer Agent or Registrar assumes any obligation or shall be subject to any liability under this Deposit Agreement to holders of Receipts, the Company or any other person or entity
other than for its bad faith, gross negligence or willful misconduct (which bad faith, gross negligence or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction).
Notwithstanding anything to the contrary contained herein, neither the Depositary, nor any Depositary’s Agent nor any Transfer Agent or Registrar shall be liable for any special, indirect, incidental, consequential, punitive or exemplary
damages, including but not limited to, lost profits, even if such person or entity alleged to be liable has knowledge of the possibility of such damages. Any liability of the Depositary and any Registrar or Transfer Agent under this Deposit
Agreement will be limited to the amount of annual fees paid by the Company to the Depositary or any Registrar or Transfer Agent. 
 (b) None
of the Depositary, any Depositary’s Agent, any Registrar or Transfer Agent or the Company shall be under any obligation to appear in, prosecute or defend any action, suit or other proceeding with respect to the deposited Preferred Stock,
Depositary Shares or Receipts that in its opinion may involve it in expense or liability, unless indemnity satisfactory to it against all expense and liability be furnished as often as may be required. 

(c) None of the Depositary, any Depositary’s Agent, any Registrar or Transfer Agent or the Company shall be liable for any action or any
failure to act by it in reliance upon the advice of legal counsel or accountants, or information provided by any person presenting Preferred Stock for deposit or any holder of a Receipt. The Depositary, any Depositary’s Agent, any Registrar or
Transfer Agent and the Company may each rely and shall each be protected in acting upon any written notice, request, direction or other document believed by it to be genuine and to have been signed or presented by the proper party or parties. 

(d) In the event the Depositary shall receive conflicting claims, requests or instructions from any holders of Receipts, on the one hand, and
the Company, on the other hand, the Depositary shall be entitled to act on such claims, requests or instructions received from the Company, and shall incur no liability and shall be entitled to the full indemnification set forth in Section 5.06
in connection with any action so taken. 
 (e) The Depositary shall not be responsible for any failure to carry out any instruction to vote
any of the deposited Preferred Stock or for the manner or effect of any such vote made, as long as any such action or non-action does not result from bad faith, gross negligence or willful misconduct of the Depositary (which bad faith, gross
negligence or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction). The Depositary undertakes, and any Registrar or Transfer Agent shall be required to undertake, to
perform such duties and only such duties as are specifically set forth in this Deposit Agreement, and no implied covenants or obligations shall be read into this Deposit Agreement against the Depositary or any Registrar or Transfer Agent. 

(f) The Depositary, its parent, affiliate, or subsidiaries, any Depositary’s Agent, and any Registrar or Transfer Agent may own, buy,
sell or deal in any class of securities of the 

  
 21 

 
Company and its affiliates and in Receipts or Depositary Shares or become pecuniarily interested in any transaction in which the Company or its affiliates may be interested or contract with or
lend money to or otherwise act as fully or as freely as if it were not the Depositary or the Depositary’s Agent hereunder. The Depositary may also act as transfer agent or registrar of any of the securities of the Company and its affiliates or
act in any other capacity for the Company or its affiliates. 
 (g) It is intended that neither the Depositary nor any Depositary’s
Agent shall be deemed to be an “issuer” of the securities under the federal securities laws or applicable state securities laws, it being expressly understood and agreed that the Depositary and any Depositary’s Agent are acting only
in a ministerial capacity as Depositary for the deposited Preferred Stock; provided, however, that the Depositary agrees to comply with all information reporting and withholding requirements applicable to it under law or this Deposit Agreement in
its capacity as Depositary. 
 (h) Neither the Depositary (or its officers, directors, employees, agents or affiliates) nor any
Depositary’s Agent makes any representation or has any responsibility as to the validity of the registration statement pursuant to which the Depositary Shares are registered under the Securities Act, the deposited Preferred Stock, the
Depositary Shares, the Receipts (except its countersignature thereon) or any instruments referred to therein or herein, or as to the correctness of any statement made therein or herein; provided, however, that the Depositary is responsible for its
representations in this Deposit Agreement. 
 (i) The Company agrees that it will register the deposited Preferred Stock and the Depositary
Shares in accordance with the applicable securities laws. 
 (j) In the event the Depositary, the Depositary’s Agent or any Registrar
or Transfer Agent believes any ambiguity or uncertainty exists in any notice, instruction, direction, request or other communication, paper or document received by it pursuant to this Deposit Agreement, the Depositary, the Depositary’s Agent,
Transfer Agent or Registrar shall promptly notify the Company of the details of such alleged ambiguity or uncertainty, and may, in its sole discretion, refrain from taking any action, and the Depositary, the Depositary’s Agent, Transfer Agent
or Registrar shall be fully protected and shall incur no liability to any person from refraining from taking such action, absent bad faith, gross negligence or willful misconduct (which bad faith, gross negligence or willful misconduct must be
determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction), unless and until (i) the rights of all parties have been fully and finally adjudicated by a court of appropriate jurisdiction or
(ii) the Depositary, the Depositary’s Agent, Transfer Agent or Registrar receives written instructions with respect to such matter signed by the Company that eliminates such ambiguity or uncertainty to the satisfaction of the Depositary,
the Depositary’s Agent, Transfer Agent or Registrar. 
 (k) Whenever in the performance of its duties under this Deposit Agreement, the
Depositary, the Depositary’s Agent, Transfer Agent or Registrar shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking, suffering or omitting to take any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively provided and established by a certificate signed by any one of the President, any Executive Vice President,

  
 22 

 
the Chief Financial Officer, Controller, the Treasurer, any Assistant Treasurer, Chief Executive Officer, the Secretary or Assistant Secretary of the Company and delivered to the Depositary, the
Depositary’s Agent, Transfer Agent or Registrar; and such certificate shall be full and complete authorization and protection to the Depositary, the Depositary’s Agent, Transfer Agent or Registrar, and the Depositary, the Depositary’s
Agent, Transfer Agent or Registrar shall incur no liability for or in respect of any action taken, suffered or omitted by it under the provisions of this Deposit Agreement in reliance upon such certificate. The Depositary, the Depositary’s
Agent, Transfer Agent or Registrar shall not be liable for or by reason of any of the statements of fact or recitals contained in this Deposit Agreement or in the Receipts (except its countersignature thereof) or be required to verify the same, but
all such statements and recitals are and shall be deemed to have been made by the Company only. 
 (l) The Depositary, the Depositary’s
Agent, Transfer Agent or Registrar will not be under any duty or responsibility to ensure compliance with any applicable federal or state securities laws in connection with the issuance, transfer or exchange of the Receipts, Stock or Depositary
Shares. 
 (m) Notwithstanding anything herein to the contrary, no amendment to the Certificate of Designation shall affect the rights,
duties, obligations or immunities of the Depositary, Transfer Agent, the Depositary’s Agent or Registrar hereunder. 
 (n) The
Depositary, Transfer Agent and any Registrar hereunder: 
  

	 	(i)	shall have no duties or obligations other than those specifically set forth herein (and no implied duties or obligations), or as may subsequently be agreed to in writing by the parties; 

 

	 	(ii)	shall have no obligation to make payment hereunder unless the Company shall have provided immediately available funds or securities or property, as the case may be, to pay in full amounts due and payable with respect
thereto; 

  

	 	(iii)	shall not be obligated to take any legal or other action hereunder; if, however, such person determines to take any legal or other action hereunder, and, where the taking of such action might in such person’s
judgment subject or expose it to any expense or liability, such person shall not be required to act unless it shall have been furnished with an indemnity satisfactory to it; 

 

	 	(iv)	may rely on and shall be authorized and protected in acting or failing to act upon any certificate, instrument, opinion, notice, letter, facsimile transmission or other document or security delivered to such person and
believed by such person to be genuine and to have been signed by the proper party or parties, and shall have no responsibility for determining the accuracy thereof; 

 

	 	(v)	 may rely on and shall be authorized and protected in acting or failing to act upon the written, telephonic, electronic and oral instructions, with

  
 23 

	 	
respect to any matter relating to such person’s actions as depositary covered by this Deposit Agreement (or supplementing or qualifying any such actions) of officers of the Company;

  

	 	(vi)	may consult counsel satisfactory to it, and the advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by the Depositary hereunder in
accordance with the advice of such counsel; 

  

	 	(vii)	shall not be called upon at any time to advise any person with respect to the Depositary Shares or Receipts; 

  

	 	(viii)	shall not be liable or responsible for any recital or statement contained in any documents relating hereto or the Depositary Shares or Receipts; and 

 

	 	(ix)	shall not be liable in any respect on account of the identity, authority or rights of the parties (other than with respect to the Depositary) executing or delivering or purporting to execute or deliver this Deposit
Agreement or any documents or papers deposited or called for under this Deposit Agreement. 

 (o) The obligations of the
Company set forth in this Section 5.08 shall survive the replacement, removal or resignation of any Depositary, Registrar, Transfer Agent or Depositary’s Agent or termination of this Deposit Agreement. 

SECTION 5.09. Resignation and Removal of the Depositary; Appointment of Successor Depositary. 

(a) The Depositary may at any time resign as Depositary hereunder by notice of its election to do so delivered to the Company, such
resignation to take effect upon the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided. 

(b) The Depositary may at any time be removed by the Company by notice of such removal delivered to the Depositary, such removal to take
effect upon the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided. Upon any such removal or appointment, the Company shall send notice thereof by electronic mail or first-class mail, postage
prepaid, to the holders of Receipts. 
 (c) In case at any time the Depositary acting hereunder shall resign or be removed, the Company
shall, within 60 days after the delivery of the notice of resignation or removal, as the case may be, appoint a successor depositary, which shall be an entity having its principal office in the United States of America and having a combined capital
and surplus of at least $50,000,000. If a successor depositary shall not have been appointed and have accepted appointment in 60 days, the resigning Depositary may petition a court of competent jurisdiction to appoint a successor depositary. Every
successor depositary shall execute and deliver to its predecessor and to the Company an instrument in writing accepting its appointment hereunder, and thereupon such successor depositary, without any further act or deed, shall become fully vested
with all the rights, powers, duties and obligations of its predecessor and for all purposes 

  
 24 

 
shall be the Depositary under this Deposit Agreement, and such predecessor, upon payment of all sums due it and on the written request of the Company, shall promptly execute and deliver an
instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all rights, title and interest in the deposited Preferred Stock and any moneys or property held hereunder to such
successor and shall deliver to such successor a list of the record holders of all outstanding Receipts. 
 (d) Any corporation or other
entity into or with which the Depositary may be merged, consolidated or converted, or any corporation or other entity to which all or a substantial part of the assets of the Depositary may be transferred, shall be the successor of such Depositary
without the execution or filing of any document or any further act. Such successor depositary may execute the Receipts either in the name of the predecessor depositary or in the name of the successor depositary. 

(e) The provisions of this Section 5.09 as they apply to the Depositary apply to the Registrar and Transfer Agent, as if specifically
enumerated herein. 
 SECTION 5.10. Resignation and Removal of the Calculation Agent; Appointment of Successor Calculation
Agent. 
 (a) The Calculation Agent may at any time resign as Calculation Agent by giving written notice to the Company of such
intention on its part, specifying the date on which its desired resignation shall become effective; provided, however, that such date shall never be earlier than 30 days after the receipt of such notice by the Company, unless the Company agrees to
accept less notice. The Calculation Agent may be removed at any time by the filing with it of any instrument in writing signed on behalf of the Company and specifying such removal and the date when it is intended to become effective. Such
resignation or removal shall take effect upon the date of the appointment by the Company, as hereinafter provided, of a successor Calculation Agent. If within 30 days after notice of resignation or removal has been given, a successor Calculation
Agent has not been appointed, the Calculation Agent may, at the expense of the Company, petition a court of competent jurisdiction to appoint a successor Calculation Agent. A successor Calculation Agent shall be appointed by the Company by an
instrument in writing signed on behalf of the Company and the successor Calculation Agent. Upon the appointment of a successor Calculation Agent and acceptance by it of such appointment, the Calculation Agent so succeeded shall cease to be such
Calculation Agent hereunder. Upon its resignation or removal, the Calculation Agent shall be entitled to the payment by the Company of its compensation, if any is owed to it, for services rendered hereunder and to the reimbursement of all
out-of-pocket expenses incurred in connection with the services rendered by it hereunder and to the payment of all other amounts owed to it hereunder. 

(b) Any successor Calculation Agent appointed hereunder shall execute and deliver to its predecessor and to the Company an instrument
accepting such appointment hereunder, and thereupon such successor Calculation Agent, without any further act, deed or conveyance, shall become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of such
predecessor with like effect as if originally named as such Calculation Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become obliged to transfer and deliver, and such successor
Calculation Agent shall be entitled to receive, copies of any relevant records maintained by such predecessor Calculation Agent. 

  
 25 

 (c) Any corporation into which the Calculation Agent may be merged, or any corporation with which
the Calculation Agent may be consolidated, or any corporation resulting from any merger or consolidation or to which the Calculation Agent shall sell or otherwise transfer all or substantially all of its corporate trust assets or business shall, to
the extent permitted by applicable law, be the successor Calculation Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto. Notice of any such merger, consolidation or
sale shall forthwith be given to the Company. 
 (d) Notwithstanding any other provision of this Deposit Agreement (including the provisions
of Section 6.02), so long as any shares of Preferred Stock remain outstanding, the obligations of the Calculation Agent under this Deposit Agreement shall survive until the Calculation Agent resigns or is removed in accordance with the
provisions of this Section 5.10. 
 SECTION 5.11. Notices, Reports and Documents. 

The Company agrees that it will deliver to the Depositary and the Depositary will promptly after receipt of such notice, transmit to the
record holders of Receipts, in each case at the address recorded in the Depositary’s books, copies of all notices and reports generally made available by the Company to holders of the Preferred Stock and not otherwise made publicly available.
Such transmission will be at the Company’s expense and the Company will provide the Depositary with such number of copies of such documents as the Depositary may reasonably request. In addition, the Depositary will transmit to the record
holders of Receipts at the Company’s expense such other documents as may be requested by the Company. 
 SECTION 5.12.
Indemnification by the Company. 
 The Company shall indemnify the Depositary, any Depositary’s Agent and any Transfer
Agent or Registrar against, and hold each of them harmless from, any loss, liability, damage, cost or expense (including the costs and expenses of defending itself) which may arise out of (i) acts performed or omitted in connection with this
Deposit Agreement and the Receipts (a) by the Depositary, any Transfer Agent or Registrar or any of their respective agents (including any Depositary’s Agent), except for any liability arising out of bad faith, gross negligence or willful
misconduct (which bad faith, gross negligence or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction) on the respective parts of any such person or persons, or
(b) by the Company or any of its agents, or (ii) the offer, sale or registration of the Receipts or shares of Stock pursuant to the provisions hereof. The obligations of the Company set forth in this Section 5.12 shall survive the
replacement, removal or resignation of any Depositary, Registrar, Transfer Agent or Depositary’s Agent or termination of this Deposit Agreement. In no event shall the Depositary have any right of set off or counterclaim against the Depositary
Shares or the Preferred Stock. 
 SECTION 5.13. Fees, Charges and Expenses. 

No charges and expenses of the Depositary or any Depositary’s Agent hereunder shall be payable by any person, except as provided in this
Section 5.13. The Company shall pay all 

  
 26 

 
transfer and other taxes and governmental charges arising solely from the existence of this Deposit Agreement. The Company shall also pay all fees and expenses of the Depositary and the
Calculation Agent in connection with the initial deposit of the Preferred Stock and the initial issuance of the Depositary Shares evidenced by the Receipts, any redemption of the Preferred Stock at the option of the Company and all withdrawals of
the Preferred Stock by holders of Receipts as previously agreed between the Depositary and the Company. All other fees and expenses of the Depositary, the Calculation Agent and any Depositary’s Agent hereunder and of any Registrar or Transfer
Agent (including, in each case, fees and expenses of counsel) incurred in the preparation, delivery, amendment, administration and execution of this Deposit Agreement and incident to the performance of their respective obligations hereunder will be
paid by the Company as previously agreed between the Depositary and the Company or any Registrar or Transfer Agent; provided that Holders of Depositary Shares shall pay any transfer fees, taxes or governmental charges and other such charges as
expressly provided in this Deposit Agreement. The Depositary and the Calculation Agent (and if applicable, the Transfer Agent and Registrar) shall present its statement for fees and expenses to the Company annually or at such other intervals as the
Company and the Depositary may agree. 

  
 27 

 ARTICLE VI  

AMENDMENT AND TERMINATION 

SECTION 6.01. Amendment. 

The form of the Receipts and any provision of this Deposit Agreement may at any time and from time to time be amended by agreement between the
Company and the Depositary without the consent of holders of Receipts in any respect that the Company and the Depositary may deem necessary or desirable; provided, however, that no such amendment (other than any change in the fees of any Depositary,
Registrar or Transfer Agent that are payable by the Company) which (i) shall materially and adversely alter the rights of the holders of Receipts or (ii) would be materially and adversely inconsistent with the rights granted to the holders
of the Preferred Stock pursuant to the Certificate of Incorporation shall be effective unless such amendment shall have been approved by the holders of Receipts evidencing at least a majority of the affected Depositary Shares then outstanding. In no
event shall any amendment impair the right, subject to the provisions of Section 2.05 and Article III, of any holder of any Receipts evidencing such Depositary Shares to surrender any Receipt with instructions to the Depositary to deliver to
the holder the deposited Preferred Stock and all money and other property, if any, represented thereby, except in order to comply with mandatory provisions of applicable law. Every holder who retains or acquires Receipts after an amendment becomes
effective shall be deemed, by continuing to hold such Receipt, to consent and agree to such amendment and to be bound by this Deposit Agreement as amended thereby. 

SECTION 6.02. Termination. 

(a) This Deposit Agreement may be terminated by the Company upon not less than 35 days’ prior written notice to the Depositary, and the
Depositary shall give notice of the termination to record holders of all outstanding Depositary Shares not less than 30 days’ before the termination date. In the event of such termination, the Depositary shall deliver or make available to each
holder of a Receipt, upon surrender of the Receipt held by such holder, such number of whole or fractional shares of deposited Preferred Stock as are represented by the Depositary Shares evidenced by such Receipt, together with any other property
held by the Depositary in respect of such Receipt. This Deposit Agreement will automatically terminate if (i) all outstanding Depositary Shares shall have been redeemed in accordance with the provisions hereof or (ii) there shall have been
made a final distribution in respect of the deposited Preferred Stock in connection with any liquidation, dissolution or winding up of the Company and such distribution shall have been distributed to the holders of Receipts entitled thereto. 

(b) Upon the termination of this Deposit Agreement, the Depositary shall discontinue the transfer of Depositary Receipts, suspend the
distribution of dividends and not give any further notices (other than notice of such termination) or perform any further acts, except that the Depositary will continue to collect dividends and other distributions on the Preferred Stock and deliver
such dividends along with the Preferred Stock certificates in exchange for Receipts surrendered. At any time after the expiration of three years from the date of termination, the Depositary may sell the Preferred Stock and hold the proceeds of such
sale, without interest, for the benefit of the record holders of Receipts who have not then surrendered their Receipts. After making such sale, the Depositary shall be discharged from all obligations under this Deposit Agreement, except to account
for the proceeds of such sale. 

  
 28 

 (c) Upon the termination of this Deposit Agreement, the Company shall be discharged from all
obligations under this Deposit Agreement except for its obligations to the Depositary, any Depositary’s Agent and any Transfer Agent or Registrar under Section 5.12 and Section 5.13. 

(d) Upon the termination of this Deposit Agreement, the Calculation Agent shall be discharged from all obligations under this Deposit
Agreement except for its obligations with respect to the Preferred Stock under Sections 5.02 and 5.03, which shall continue until the earlier of such time as (i) a successor calculation agent is appointed pursuant to Section 5.10 or
(ii) no shares of Preferred Stock are outstanding. 

  
 29 

 ARTICLE VII 

MISCELLANEOUS 
 SECTION
7.01. Counterparts. 
 This Deposit Agreement may be executed in any number of counterparts, and by each of the parties hereto
on separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed an original, but all such counterparts taken together shall constitute one and the same instrument. Delivery of an executed counterpart of a
signature page to this Deposit Agreement by facsimile shall be effective as delivery of a manually executed counterpart of this Deposit Agreement. 

SECTION 7.02. Exclusive Benefits of Parties. 

This Deposit Agreement is for the exclusive benefit of the parties hereto, and their respective successors hereunder, and shall not be deemed
to give any legal or equitable right, remedy or claim to any other person whatsoever. 
 SECTION 7.03. Invalidity of
Provisions. 
 In case any one or more of the provisions contained in this Deposit Agreement or in the Receipts should be or become
invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be affected, prejudiced or disturbed thereby; provided, however, that if such
provision affects the rights, duties, liabilities or obligations of the Depositary, the Depositary shall be entitled to resign immediately. 

SECTION 7.04. Notices. 

(a) Any and all notices to be given to the Company hereunder or under the Receipts shall be in writing and shall be deemed to have been duly
given if personally delivered or sent by mail, or by facsimile transmission confirmed by letter, addressed to the Company at: 
 Fifth Third
Bancorp 
 38 Fountain Square Plaza 

Cincinnati, Ohio 45263 
 Tel:
(513) 534-4300 
 Fax: (513) 534-6757 

Attention: Mary E. Tuuk, Executive Vice President of Corporate Services and 

Board Secretary 
 with a copy to:

 Graydon Head & Ritchey, LLP 

511 Walnut Street 
 Cincinnati,
Ohio 45202 

  
 30 

 Tel: (513) 621-6464 

Fax: (513) 651-3836 

Attention: Richard G. Schmalzl, Esquire 

or at any other address of which the Company shall have notified the Depositary in writing. 

(b) Any notices to be given to the Depositary hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given
if personally delivered or sent by mail, or telecopier confirmed by letter, addressed to the Depositary: 
 Wilmington Trust, National
Association 
 Rodney Square North 

1100 N. Market Street 

Wilmington, Delaware 19890 
 Tel:
(302) 636-6398 
 Fax: (302) 636-4145 

Attention: Global Capital Markets 

with a copy to: 

Alston & Bird LLP 
 Bank
of America Plaza 
 101 South Tryon Street 

Suite 4000 
 Charlotte, NC 28280

 Tel: (704) 444-1295 

Fax: (704) 444-1795 

Attention: Jason J. Solomon, Esquire 

(c) Any notices to be given to the Transfer Agent or Registrar hereunder or under the Receipts shall be in writing and shall be deemed to have
been duly given if personally delivered or sent by mail, or telecopier confirmed by letter, addressed to the Transfer Agent or Registrar: 

American Stock Transfer & Trust Company, LLC 

6201 15th Avenue 

Brooklyn, New York 11219 

Attention: Wendy Cappiello 
 with
a copy to: 
 American Stock Transfer & Trust Company, LLC 

10150 Mallard Creek Road 
 Suite
307 
 Charlotte, North Carolina 28262 

Attention: Felix Orihuela 

  
 31 

 (d) Any notices given to any record holder of a Receipt hereunder or under the Receipts shall be
in writing and shall be deemed to have been duly given if personally delivered or sent by mail, recognized next-day courier service or telecopier confirmed by letter, addressed to such record holder at the address of such record holder as it appears
on the books of the Depositary provided that any record holder may direct the Depositary to deliver notices to such record holder at an alternate address or in a specific manner that is reasonably requested by such record holder in a written request
timely filed with the Depositary and that is reasonably acceptable to the Depositary. 
 (e) Delivery of a notice sent by mail shall be
deemed to be effected at the time when a duly addressed letter containing the same (or a confirmation thereof in the case of a facsimile message) is deposited, postage prepaid, in a post office letter box, or in the case of a next-day courier
service, when deposited with such courier, courier fees prepaid. The Depositary or the Company may, however, act upon any facsimile message received by it from the other or from any holder of a Receipt, notwithstanding that such facsimile message
shall not subsequently be confirmed by letter as aforesaid. 
 SECTION 7.05. Depositary’s Agents. 

The Depositary may from time to time appoint Depositary’s Agents to act in any respect for the Depositary for the purposes of this
Deposit Agreement and may at any time appoint additional Depositary’s Agents and vary or terminate the appointment of such Depositary’s Agents. The Depositary will notify the Company of any such action. 

SECTION 7.06. Holders of Receipts Are Parties. 

The holders of Receipts from time to time shall be deemed to be parties to this Deposit Agreement and shall be bound by all of the terms and
conditions hereof and of the Receipts by acceptance of delivery thereof to the same extent as though such person executed this Deposit Agreement. 

SECTION 7.07. Governing Law. 

This Deposit Agreement and the Receipts and all rights hereunder and thereunder and provisions hereof and thereof shall be governed by, and
construed in accordance with, the law of the State of Delaware applicable to agreements made and to be performed in said State, without regard to conflicts of laws principles thereof. 

SECTION 7.08. Inspection of Deposit Agreement and Certificate of Designation. 

Copies of this Deposit Agreement and the Certificate of Designation shall be filed with the Depositary and the Depositary’s Agents and
shall be open to inspection during business hours at the Depositary Office by any holder of any Receipt. 
 SECTION 7.09.
Headings. 
 The headings of articles and sections in this Deposit Agreement and in the form of the Receipt set forth in
Exhibit A hereto have been inserted for convenience only and are not to be regarded as a part of this Deposit Agreement or to have any bearing upon the meaning or interpretation of any provision contained herein or in the Receipts. 

  
 32 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Deposit Agreement as of the day
and year first above set forth and all holders of Receipts shall become parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance with the terms hereof. 

 

			
	FIFTH THIRD BANCORP,
	as Issuer
	
	 /s/ James C. Leonard

	By:	 	
	Name:	 	James C. Leonard
	Title:	 	Senior Vice President
	
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Depositary and Calculation Agent,

	
	 /s/ Michael H. Wass

	By:	 	
	Name:	 	Michael H. Wass
	Title:	 	Assistant Vice President
	
	 AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC,

as Transfer Agent and Registrar,

	
	 /s/ Michael A. Nespoli

	By:	 	
	Name:	 	Michael A. Nespoli
	Title:	 	Executive Director

  
 33 

 EXHIBIT A 

FORM OF FACE OF RECEIPT 

UNLESS THIS RECEIPT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
NEW YORK, NEW YORK, TO THE CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY RECEIPT ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
CERTIFICATE OF DESIGNATION REFERRED TO BELOW. 
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER
AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR AND TRANSFER AGENT MAY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE RESTRICTIONS ON TRANSFER AND OTHER PROVISIONS OF SAID AGREEMENT. ANY SALE OR OTHER TRANSFER NOT IN
COMPLIANCE WITH SAID AGREEMENT WILL BE VOID. 
 Certificate
Number                Number of Depositary Shares 

  
 34 

 FIFTH THIRD BANCORP 

RECEIPT FOR DEPOSITARY SHARES 

EACH REPRESENTING 1/25TH OF A SHARE OF 

4.90% FIXED-TO-FLOATING RATE NON-CUMULATIVE 

PERPETUAL PREFERRED STOCK, SERIES J 

(LIQUIDATION PREFERENCE $25,000 PER SHARE) 

Wilmington Trust, National Association, as Depositary (the “Depositary”), hereby certifies that
                                         is the
registered owner of Depositary Shares (“Depositary Shares”), each Depositary Share representing 1/25th of an ownership interest in a share of 4.90% Fixed-To-Floating Rate Non-Cumulative
Perpetual Preferred Stock, Series J, liquidation preference of $25,000 per share (the “Stock”), of Fifth Third Bancorp, an Ohio corporation (the “Company”), on deposit with the Depositary, subject to the terms and entitled to the
benefits of the Deposit Agreement dated June 5, 2014 (the “Deposit Agreement”), among the Company, the Depositary, American Stock Transfer & Trust Company, LLC and the holders from time to time of Receipts for Depositary
Shares (“Depositary Share Receipts”). By accepting this Depositary Share Receipts, the holder hereof becomes a party to and agrees to be bound by all the terms and conditions of the Deposit Agreement. This Depositary Share Receipts shall
not be valid or obligatory for any purpose or entitled to any benefits under the Deposit Agreement unless it shall have been executed by the Depositary by the manual or facsimile signature of a duly authorized officer and, if a Registrar in respect
of the Depositary Share Receipts (other than the Depositary) shall have been appointed, by the manual signature of a duly authorized officer of such Registrar. 

Dated: 
  

					
		  	Wilmington Trust, National Association, as Depositary
			
		  	By:	  	  

		  		  	Authorized Signatory
		
	Countersigned:	  	American Stock Transfer & Trust Company, LLC, as Registrar
			
		  	By:	  	  

		  		  	Authorized Signatory

  
 35 

 [FORM OF REVERSE OF RECEIPT] 

The following abbreviations when used in the instructions on the face of this receipt shall be construed as though they were written out in
full according to applicable laws or regulations. 
  

			
	TEN COM - as tenant in common	 	UNIF GIFT MIN ACT -
		
	Custodian	 	
		
	(Cust) (Minor)	 	
		
	TEN ENT - as tenants by the entireties	 	Under Uniform Gifts to Minors Act

 JT TEN - as joint tenants with right of survivorship and not as tenants in common 

(State) 
 Additional
abbreviations may also be used though not in the above list. 
 ASSIGNMENT 

For value received,
                                         hereby
sell(s), assign(s) and 
 transfer(s) unto 

PLEASE INSERT SOCIAL SECURITY OR 

OTHER IDENTIFYING NUMBER OF ASSIGNEE, AS APPLICABLE 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS 

INCLUDING POSTAL ZIP CODE OF ASSIGNEE 

Depositary Shares represented by the within 

Receipt, and do hereby irrevocably constitute and appoint Attorney to transfer the said Depositary Shares on the books of the within named
Depositary with full power of substitution in the premises. 
 Dated 

NOTICE: The signature to the assignment must correspond with the name as written upon the face of this Receipt in every particular, without
alteration or enlargement or any change whatever. 
 SIGNATURE GUARANTEED 

NOTICE: The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations, and
credit unions with membership in an approved signature guarantee medallion program), pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934. 

  
 36 

 EXHIBIT B 

CERTIFICATE OF DESIGNATION 

See Exhibit 4.1 to Form 8-K filed by Fifth Third Bancorp on June 5, 2014 for a copy of the Amendment to the Articles of Incorporation, as
amended. 

  
 37EX-10.12

 Exhibit 10.12 

FORM OF TRANSITION SERVICES AGREEMENT 

THIS AGREEMENT (this “Agreement”) is made as of [—], between
International Paper Company, a New York corporation (“IP”), and xpedx Holding Company, a Delaware corporation (“Spinco” and, together with IP, the “Parties”). 

WHEREAS, IP, Spinco and UWW Holdings, Inc., a Delaware corporation, have entered into the Contribution and Distribution Agreement, dated as of
January 28, 2014 (the “Contribution and Distribution Agreement”), pursuant to which, among other things, certain assets and liabilities constituting the Spinco Business will be transferred to Spinco and its Subsidiaries, and
all of the outstanding shares of Spinco Common Stock will be distributed to IP’s stockholders; 
 WHEREAS, the Spinco Business uses
certain services provided by IP or by third parties under contract to IP, and Spinco desires to obtain the use of these services for the purpose of enabling it to manage an orderly transition; 

WHEREAS, Spinco acknowledges that IP is not in the business of providing such services to third parties; and 

WHEREAS, capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Contribution and Distribution
Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 
  

	1.	DEFINITIONS; INTERPRETATION 

 1.1 Definitions. The following terms shall have the
respective meanings set out below and grammatical variations of such terms shall have corresponding meanings: 
 “Additional
Services” has the meaning set forth in Section 2.11. 
 “Agreement” has the meaning set forth in the
preamble. 
 “Contribution and Distribution Agreement” has the meaning set forth in the recitals. 

“Distribution Date” means the date of closing of the transactions contemplated by the Contribution and Distribution
Agreement. 
 “Excluded Services” are those services set forth on Schedule II hereto. 

“First Extension Period” means the period of time from and including the 13th month following the Distribution Date through
and including the 18th month following the Distribution Date. 
 “Intellectual Property” means, collectively, any U.S. and
non-U.S. issued, registered, unregistered and pending: (i) patents and patent applications (including any divisionals, 

 
continuations, continuations-in-part, reissues, renewals, re-examinations, extensions, provisional and applications for any of the foregoing), inventor’s certificates, utility model rights
and similar rights, petty patents and applications therefor; (ii) works of authorship, mask works, copyrights, and copyright and mask work registrations and applications for registration; (iii) trademarks and service marks (including those
which are protected without registration due to their well-known status), trade names, corporate names, domain names, logos, slogans, taglines, trade dress, general intangibles of like nature, and other indicia of source, origin, endorsement,
sponsorship or certification, designs, industrial designs, product packaging shape, and other elements of product and product packaging appearance together with all registrations and applications for registration of any of the foregoing and all
goodwill related to any of the foregoing; (iv) unpatented inventions (whether or not patentable), trade secrets under applicable law, know-how and confidential or proprietary information, including (in whatever form or medium), discoveries,
ideas, compositions, rights in software (including all source and object code related thereto), computer software documentation, database, drawings, designs, plans, proposals, specifications, photographs, samples, models, processes, procedures,
data, information, manuals, reports, financial, marketing and business data, pricing and cost information, correspondence and notes; (v) all claims and rights related to any of the foregoing; and (vi) all other intellectual property or
proprietary rights. 
 “Licensee” has the meaning set forth in Section 16. 

“Licensor” has the meaning set forth in Section 16. 

“Losses” means any damage, loss, liability, expense, lost profits or diminution in value (including reasonable expenses of
investigation, enforcement and collection and reasonable attorneys’ and accountants’ fees and expenses), but shall not include liability to another Party or any of its Affiliates (or any of their respective Related Parties (as defined in
the Contribution and Distribution Agreement) for any exemplary damages or punitive damages, or any other damages to the extent not reasonably foreseeable, arising out of or in connection with this Agreement or any Transaction Agreement (in each
case, unless any such damages are payable to a third party pursuant to a Third-Party Claim). 
 “Materials” has the meaning
set forth in Section 15.1. 
 “Merger Agreement” has the meaning set forth in the Contribution and Distribution
Agreement. 
 “Migration” means the transition or migration from the provision of a particular Service by Service Provider
to Service Recipient under this Agreement to performance of such Service by Service Recipient or a third party designated by Service Recipient. 

“Migration Services” has the meaning set forth in Section 5.2. 

“Omitted Services” has the meaning set forth in Section 2.9. 

“Party” means either IP or Spinco, as the context requires, and “Parties” means both of them, as the context
requires. 

  
 2 

 “Post-Term Invoice” has the meaning set forth in Section 3.9. 

“Project Manager” has the meaning set forth in Section 14.1. 

“Providing Party” has the meaning set forth in Section 11. 

“Receiving Party” has the meaning set forth in Section 11. 

“Reference Period” means the 2013 calendar year. 

“Reverse Transition Services” means each service specified in Part B of Schedule I hereto to be provided from
Spinco to IP. 
 “Sales and Service Taxes” has the meaning set forth in Section 3.7. 

“Second Extension Period” means the period of time from and including the 19th month following the Distribution Date through
and including the 24th month following the Distribution Date. 
 “Schedules” shall mean Schedule I, Schedule
II, Schedule III and any Supplemental Schedule. 
 “Security Policies” has the meaning set forth in
Section 2.5. 
 “Service” means, as the context requires, one or more Transition Services and/or one or more
Reverse Transition Services. 
 “Service Delivery Environment” means the equipment, software, systems, databases,
communications networks and connectivity, and facilities used by Service Provider to provide the Services. 
 “Service
Fees” has the meaning set forth in Section 3.1. 
 “Service Provider” means, in the case of Transition
Services, IP and any of its Affiliates providing Transition Services hereunder, and, in the case of Reverse Transition Services, Spinco and any of its Subsidiaries to the extent that they are providing Reverse Transition Services hereunder. 

“Service Provider Fiscal Month” means a month during Service Provider’s fiscal year, as determined by Service Provider
for accounting purposes. 
 “Service Provider Indemnitees” has the meaning set forth in Section 6.2. 

“Service Recipient” means, in the case of Transition Services, Spinco and any of its Affiliates receiving Transition Services
hereunder, and, in the case of Reverse Transition Services, IP and any of its Subsidiaries to the extent that they are receiving Reverse Transition Services hereunder. 

  
 3 

 “Service Recipient Data” means all the data owned and provided solely by Service
Recipient, or created by Service Provider solely on behalf, or for the benefit, of Service Recipient, that is used by Service Provider solely in relation to the provision of the Services, including employee information, customer information, product
details and pricing information. 
 “Service Recipient Indemnitees” has the meaning set forth in Section 6.1.

 “Supplemental Schedule” has the meaning set forth in Section 2.1. 

“Term” has the meaning set forth in Section 2.1. 

“Transition Period” means the period from the Distribution Date until all of the Terms for all of the Services have expired
or otherwise terminated in accordance with Section 12, and no further Services are being provided in connection with the Migration; provided that in no event shall the Transition Period exceed a period of time of one year or, if
extended by Service Recipient pursuant to Section 2.12, up to two years, after the Distribution Date. 
 “Transition
Service” means each service specified in Part A of Schedule I hereto to be provided by IP to Spinco. 
 1.2
Interpretation. When a reference is made in this Agreement to a Section or Schedule, such reference shall be to a Section or Schedule of this Agreement unless otherwise indicated. The headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Unless the context requires otherwise, references to an agreement, instrument or other document means such agreement, instrument or other document as
amended, supplemented and modified from time to time to the extent permitted by the provisions thereof, and by this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement, they
shall be deemed to be followed by the words “without limitation.” The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole
and not to any particular provision of this Agreement. Unless the context requires, “or,” “neither,” “nor,” “any,” and “either,” shall not be exclusive. All terms defined in this Agreement shall have
the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such
terms and to the masculine as well as the feminine and neuter genders of such terms. When a reference is made in this Agreement to “Service Provider” or “Service Recipient,” such reference shall be to the provider or recipient of
either Transition Services or Reverse Transition Services as the context requires with reference to the particular Transition Service or Reverse Transition Service at issue. Notwithstanding that each of IP and Spinco, and their respective
Affiliates, may act under this Agreement in the capacity of both a Service Provider and a Service Recipient, the rights, duties, obligations or liabilities of a Service Provider or Service Recipient set forth in this Agreement shall be limited as
the context requires to the rights, duties, obligations or liabilities of the Party acting in the capacity of Service Provider or Service Recipient with reference to the particular Services, rights, duties, obligations or liabilities at issue. For
purposes of this Agreement, the obligation of a Party to use its “reasonable best efforts” to achieve a particular result may require such Party to expend resources, incur costs or expenses, or pay amounts, in

  
 4 

 
each case to the extent such expenditures, costs, expenses or payments, together with all other actions to be taken by such Party in pursuit of such result, would constitute the exercise of such
Party’s “reasonable best efforts”. 
  

	2.	TERM AND PROVISION OF SERVICES 

 2.1 Subject to Section 12, the term of this
Agreement shall be for the Transition Period. Subject to Section 12, each Service shall be provided for the period of time following the Distribution that is indicated on the Schedules for such Service and each Additional Service,
Omitted Service or Migration Service, if any, shall be provided for the period of time as specified in a supplemental written schedule (i) mutually agreed upon by the Parties acting reasonably and in good faith, in the case of Additional
Services or Migration Services, or (ii) subject to prior confirmation in good faith by Service Provider acting reasonably, delivered by Service Recipient, in the case of Omitted Services (each such supplemental written schedule, a
“Supplemental Schedule”) setting forth the terms of such Additional Service, Omitted Service or Migration Service to be provided (any such period of time with respect to a Service, an Additional Service, an Omitted Service or a
Migration Service, including any extension period agreed to by the Parties pursuant to Section 2.12, a “Term”); provided that in no event shall any Term exceed a period of time of one year or, if extended by Service
Recipient pursuant to Section 2.12, up to two years, after the Distribution Date. 
 2.2 During the Transition Period, but
subject to Section 12, the applicable Term and the provisions set forth in this Agreement, Service Provider shall provide to Service Recipient (or cause to be provided by its Affiliates or third parties to Service Recipient) each Service
set forth on Schedule I hereto, which Schedule I shall also include the scope of such Service and fees associated with such Service. For the avoidance of doubt, any Supplemental Schedule shall be deemed to be part of Schedule I
hereto. 
 2.3 Except as otherwise expressly provided in the Schedules, Service Provider shall provide each Service to Service Recipient
(i) in at least substantially the same manner, scope and nature, at substantially the same level of professionalism, workmanship and quality, with substantially equal priority and substantially equal treatment as such Service was provided, or
caused to be provided, by Service Provider or any of its Affiliates to the Spinco Business, in the case of a Transition Service, and to the IP Business, in the case of a Reverse Transition Service, during the Reference Period and (ii) in
compliance with all applicable Laws; provided, that, in the case of clause (i) above, for the purposes of determining the manner, scope, nature, professionalism, workmanship, quality and priority of any Service during the Reference
Period, appropriate and reasonable modifications in manner of delivery may be made for security, confidentiality, and data integrity so long as such modifications do not adversely affect the scope, nature, professionalism, workmanship, quality or
priority to the Service Recipient of the Services delivered hereunder in any material respect. 
 2.4 Service Provider and Service Recipient
shall, and shall cause their respective Affiliates to, comply with applicable privacy and data security Laws in the provision or receipt of Services. 

  
 5 

 2.5 Service Recipient shall comply with all of Service Provider’s security policies,
procedures and requirements relating to the Service Delivery Environment that have been, from time to time, previously provided in writing to Service Recipient (including those adopted after the date hereof to the extent so provided) in connection
with its access and use of the Services (the “Security Policies”), and shall not tamper with, compromise or circumvent any security or audit measures employed by Service Provider. 

2.6 Service Provider shall limit access to the Service Delivery Environment to Service Provider personnel who are specifically authorized to
have such access, and shall take such measures to prevent unauthorized access, use, destruction, alteration or loss of Spinco Business data and other information contained therein as employed with respect to IP Business data. Service Recipient shall
access and use only that portion of the Service Delivery Environment for which Service Recipient has been granted the right to access and use; provided, however, that Service Provider shall not unreasonably limit the grant of such access and use by
authorized personnel. Neither Party shall establish any type of external network connectivity into the other Party’s systems or network, including WAN or Internet connectivity, without the prior written consent of the other Party. Service
Recipient shall limit access of its personnel to the Service Delivery Environment to those personnel who are specifically authorized to have such access and shall cause such personnel to comply with the Security Policies in accessing the Service
Delivery Environment in accordance with the terms of Section 2.5. 
 2.7 If, at any time, a Party determines that (a) any
of its personnel has sought to circumvent, or has circumvented, the Security Policies, (b) any unauthorized personnel of such Party has accessed the Service Delivery Environment, or (c) any of its personnel has engaged in activities that
may reasonably be expected to lead to the unauthorized access, use, destruction, alteration or loss of data, information or software, such Party shall promptly terminate such personnel’s access to the Service Delivery Environment and promptly
notify the other Party in writing. In addition, Service Provider shall have the right to deny personnel of Service Recipient access to the Service Delivery Environment upon at least 24 hours’ written notice to Service Recipient in the event
that Service Provider reasonably believes that such personnel have engaged in any of the activities set forth in this Section 2.7 or otherwise pose a security concern. Each Party will reasonably cooperate with the other Party in
investigating any apparent unauthorized access to or use of the Service Delivery Environment. 
 2.8 The Parties acknowledge that, subject
to Section 2.3, the manner, means, and resources to provide the Services are in the reasonable discretion of Service Provider; provided that Service Provider shall in good faith discuss and consider any reasonable suggestions of
Service Recipient with respect to the foregoing that are consistent with the terms of this Agreement. 
 2.9 If any services (other than
Excluded Services) that either (i) were previously provided to or for the benefit of either Party or their respective Subsidiaries, or caused to be provided to or for the benefit of either Party or their respective Subsidiaries, in each case by
the other Party or its Subsidiaries, or (ii) are not of the type described in clause (i) but that Spinco reasonably believes are necessary for Spinco to operate the Spinco Business as currently conducted, have been omitted from Schedule
I hereto (“Omitted Services”), then at the request of Service Recipient (in the case of clause (i), made within one year after the Distribution Date, and 

  
 6 

 
in the case of clause (ii), made within six months after the Distribution Date), (A) in the case of services pursuant to the foregoing clause (i), Service Provider shall provide such
services, or cause such services to be provided, as promptly as reasonably practicable, pursuant to a Supplemental Schedule and (B) in the case of services pursuant to the foregoing clause (ii), so long as (x) Service Provider has the
capability and existing capacity to provide such services, (y) Service Provider has provided such services to any of its other businesses within six months prior to the date of such request and (z) Service Recipient is unable to secure
such services from a third party on commercially reasonable terms, Service Provider shall use its reasonable best efforts to provide such services, or cause such services to be provided, as promptly as reasonably practicable, pursuant to a
Supplemental Schedule; provided, in each case, that the obligations of Service Provider to provide any Omitted Services shall be subject to Service Recipient’s use of its reasonable best efforts to cooperate with Service Provider in the
provision of such services, and to the extent that changes to the systems, operations or business of Service Recipient implemented in connection with the transactions contemplated by the Contribution and Distribution Agreement or Merger Agreement or
after the Distribution Date require alterations in the means of providing any such service, Service Provider shall be obligated only to use its reasonable best efforts to make such alterations. Service Recipient shall use its reasonable best efforts
to cooperate with Service Provider in the provision of such services. Any Omitted Service that is provided or caused to be provided by Service Provider pursuant to this Section 2.9 shall be a “Transition Service” or a
“Reverse Transition Service”, as applicable, for the purposes of this Agreement (other than as specifically indicated herein). 

2.10 Subject to the service level requirements set forth in Section 2.3, Service Provider may use third parties to provide some or
all of the Services. Service Provider agrees that, to the extent such third-party Services are provided to Service Recipient pursuant to contracts between Service Provider and the third-party service provider, Service Provider will (i) to the
extent such contracts allow Service Provider to take such actions for the benefit of Service Recipient (after the use by Service Provider of its reasonable best efforts to obtain consent to do so, if applicable), pass-through or grant to Service
Recipient any license to Intellectual Property granted to Service Provider to the extent such license is necessary for Service Recipient to receive or utilize the Services; and (ii) enforce its rights and remedies, including indemnification
obligations and obligations of the third-party service provider to comply with specified service levels and warranties, against any such third parties relating to the Services to the extent it would otherwise enforce such rights and remedies on
behalf of itself or any of its Affiliates under similar circumstances relating to similar matters. Any reasonable and out-of-pocket costs incurred by Service Provider in pursuing remedies on Service Recipient’s behalf and at Service
Recipient’s direction and request, to the extent associated with a failure to provide Services hereunder, shall be invoiced to Service Recipient as Service Fees. Unless specifically agreed in writing by the Parties, Service Recipient will be
responsible for incremental costs incurred and associated with third-party contracts initiated during the Transition Period by Service Provider, subject to Section 3.3; provided, that Service Provider shall use its reasonable best
efforts to minimize such incremental costs. Service Provider will consult with and obtain the prior written consent of (such consent to be provided within five (5) Business Days and not to be unreasonably withheld) Service Recipient prior to
retaining any third party to provide Services where such third party (a) is not also providing substantially similar services to Service Provider for Service Provider’s business, or (b) did not provide the Services (or substantially
similar 

  
 7 

 
services) to the Spinco Business, in the case of Transition Services, or to the IP Business, in the case of Reverse Transition Services, as applicable, prior to Distribution. Notwithstanding any
such use of third parties, Service Provider shall remain fully obligated for the provision of such Services to the Service Recipient in accordance with the terms hereof; provided, however, if (i) Service Provider elects to use a
third-party service provider for all or substantially all of its and its Subsidiaries’ requirements and/or needs and (ii) Service Provider is able to assign, and has assigned, to Service Recipient, Service Provider’s rights and
remedies against such third-party service provider, such that Service Recipient may pursue such rights and remedies directly, Service Provider shall have no liability to Service Recipient in connection with a failure to perform by such third party
that is not caused by the action or inaction of Service Provider. 
 2.11 In the event that Service Recipient requires any additional
services (excluding any Excluded Services and other than Omitted Services or Migration Services, which shall be governed by Sections 2.9 and 5.2, respectively) (“Additional Services”), Service Recipient may submit
a written request describing such services to Service Provider’s Project Manager, and the Project Managers of each of Service Recipient and Service Provider shall meet to discuss such request. Service Provider shall act reasonably and in good
faith in determining whether to provide such additional services. Any Additional Service that is provided or caused to be provided by Service Provider pursuant to this Section 2.11 shall be a “Transition Service” of
“Reverse Transition Service”, as applicable, for the purposes of this Agreement (other than as specifically indicated herein). 

2.12 In the event that any Service is required beyond its Term, Service Recipient shall provide Service Provider with a written notice of
extension no later than forty-five (45) days prior to the expiration of the Term of such Service. Such notice shall indicate the period during which Service Recipient wishes to receive such Service after the date of expiration of the Term for
such Service; provided that such period shall not extend beyond the date which is two years from the Distribution Date. Subject to obtaining any necessary third-party consents, Service Provider shall provide, or cause to be provided, the
Service to Service Recipient for such period, it being understood and agreed that the fees for each applicable Service shall be increased by (i) 10% during the First Extension Period and (ii) 20% during the Second Extension Period. Service
Recipient will reimburse Service Provider for any reasonable and documented incremental fees charged by third-party service providers in connection with granting any consent or otherwise extending the Service, in each case, solely with respect to an
extension beyond the Term. 
 2.13 Service Provider shall not be required to provide a Service to the extent the provision of such Service
by Service Provider materially conflicts with any contract or agreement to which Service Provider is a party prior to the date hereof or the rights of any third party with respect thereto or violates any applicable Law. The Service Provider shall
use reasonable best efforts to obtain any consents from third-parties that Service Provider reasonably believes are necessary in order for Service Provider to provide the Services. In the event that Service Provider is unable to obtain any such
consent, the Parties shall work together to agree upon, and Service Provider shall use its reasonable best efforts (and Service Recipient will cooperate with Service Provider) to implement, a commercially reasonable alternative arrangement. 

  
 8 

 2.14 Notwithstanding anything to the contrary that may be set forth or implied elsewhere in this
Agreement or in the Contribution and Distribution Agreement, Service Provider shall not, and shall be under no obligation to, provide any Excluded Services after the Distribution Date. 

2.15 Unless otherwise provided for in this Agreement, the Parties shall use their reasonable best efforts to cooperate with each other in all
matters relating to the provision and receipt of the Transition Services and the Reverse Transition Services. Such cooperation shall include exchanging information, providing electronic access to systems used in connection with the Transition
Services and Reverse Transition Services and obtaining all consents, licenses, sublicenses or approvals necessary (including the payment of any reasonable fees or expenses) to permit each Party to perform its obligations hereunder, in each case,
subject to the restrictions of Section 11. Each Party shall cooperate with the other Party in determining the extent to which any Tax is due and owing with respect to any of the Transition Services or Reverse Transition Services, as
applicable, and in providing and making available appropriate documentation or information reasonably requested by the other Party including, but not limited to, applicable resale and/or exemption certificates. 

 

	3.	PRICING, BILLING AND PAYMENT 

 3.1 With respect to each Service, Service Recipient shall
pay to Service Provider those amounts determined in accordance with the rates and charges, including any set-up or one-time costs, set forth in the Schedule for such Service, and in addition, Service Recipient
shall pay Service Provider all reasonable incidental costs and expenses reasonably incurred by Service Provider in providing the Services, including air fare (coach class), lodging, meals, mileage, parking and ground transportation, in each case in
accordance with Service Provider’s standard policies with respect to such incidental costs and expenses (collectively, the “Service Fees”). Service Fees for Migration Services shall be at the rate of $200 per hour, plus all
reasonable incidental costs and expenses reasonably incurred by Service Provider in providing the Migration Services. 
 3.2 Service Fees
(if any) for Omitted Services and Additional Services shall be developed in good faith by the Parties pursuant to the following guidelines: 

(a) with respect to internal resources of Service Provider or its Affiliates used in delivering the Service, together with any
third-party products or services used or consumed in the ordinary course of delivering the Service that are not pass-through costs or reimbursable expenses, Service Fees shall be based on a good faith allocation of Service Provider’s
centralized costs associated with the Service consistent with Service Provider’s recent historical practices over the Reference Period for allocating such costs among its lines of business, plus all reasonable incidental costs and expenses
reasonably incurred by Service Provider in providing the Services; and 
 (b) with respect to any Services provided by
third-party service providers, Service Fees shall be based on the reasonable and documented actual cost paid by Service Provider to the third-party service provider for the products or services furnished by the third-party service provider for the
benefit of Service Recipient, plus all reasonable incidental costs and expenses reasonably incurred by Service Provider in providing the Services. 

  
 9 

 3.3 In the event that any Service is terminated by Service Recipient in accordance with
Section 12.3, the Service Fees shall automatically be adjusted downward (by the associated fee for such Service set forth on the respective Schedule from and after the first day of the month following termination of such Service). To the
extent that such Service is provided to Service Provider by a third-party service provider, Service Provider may at any time increase the charges for any Service upon written notice to Service Recipient provided such increase is only to the extent
of the amount of increase charged by such third-party service provider. 
 3.4 Not later than twenty-one (21) days after the last day
of each calendar month, Service Provider shall provide to Service Recipient an itemized invoice for the preceding month’s Service Fees. The amount stated in such invoice (to the extent such amount is not the subject of a good faith dispute in
accordance with the terms set forth in Section 3.10) shall be paid by Service Recipient in full within thirty (30) days of the date of Service Recipient’s receipt of the invoice (or the next Business Day following such date, if
such thirtieth (30th) day is not a Business Day) through payment to an account designated by Service Provider. To protect confidential or competitively sensitive information, Service Provider may aggregate the Service Fees with respect to some
or all of the Services included in such invoice; provided, that Service Provider shall, and shall cause its Affiliates to, cooperate and provide such information as reasonably requested by Service Recipient and provide such back-up therefor
as reasonably requested by Service Recipient in connection therewith to the extent reasonably required to permit Service Recipient and its Representatives to review and evaluate the amounts set forth in such invoice and verify such amounts. If any
such review reveals any overpayment by Service Recipient, Service Provider shall promptly refund the amount of such overpayment to Service Recipient (including any interest accrued daily on such overpayment at an annual interest rate equal to 6% and
reimburse, to the extent any such review reveals an overpayment of 10% or more, Service Recipient for its reasonable and documented out-of-pocket costs and expenses incurred in connection with such review. Any dispute regarding overpayment shall be
resolved by engaging KPMG LLP to arbitrate and resolve such dispute, which shall be resolved in accordance with the processes and procedures set forth in Section 5.2(c) of the Contribution and Distribution Agreement. If KPMG LLP is unable or
unwilling to act as arbitrator, a nationally recognized accounting firm shall be selected by lot from among the remaining nationally recognized firms which are not the regular independent auditor firm of IP or the Spinco, and in such event
references herein to KPMG LLP shall be deemed to refer to such replacement accounting firm. 
 3.5 Without prejudice to Service
Provider’s other rights and remedies, in the event any sum due (other than those subject to dispute in good faith) to Service Provider pursuant to the terms of this Agreement remains unpaid ten (10) Business Days after the applicable due
date, interest shall accrue daily, from the due date until the date of actual payment, at an annual interest rate equal to 6%. 
 3.6 The
cost of each Service is a monthly cost, and the full monthly cost of each Service (applying the volume level, if applicable, of such Service at the beginning of a Service Provider Fiscal Month) shall apply in respect of such Service until such
Service is terminated in its entirety as provided in Section 12.3. 

  
 10 

 3.7 All payments due to Service Provider pursuant to the terms of this Agreement shall be
exclusive of any sales, service, value-added or other similar Tax or levy imposed upon the Transition Services or Reverse Transition Services, as applicable, provided pursuant to this Agreement (“Sales and Service Taxes”), which
shall be payable by Service Recipient unless (for the avoidance of doubt) the applicable Law provides that the relevant Sales and Service Taxes are levied directly on the Service Provider; in such case the Service Provider will pay the relevant
Sales and Service Tax directly to the Taxing authority in accordance with applicable Law and Service Recipient shall reimburse Service Provider for such relevant Sales and Services Taxes. In connection with the Transition Services or Reverse
Transition Services, as applicable, provided pursuant to this Agreement, each Party shall be responsible for, and shall withhold or pay or both (or cause to be withheld or paid or both), as may be required by Law, all Taxes pertaining to the
employment of its personnel, agents, servants or designees. Each of Service Provider and Service Recipient shall pay and be responsible for their own Taxes based on their own income or profits or assets. 

3.8 Payments for Services or other amounts due under this Agreement shall be made net of withholding Taxes; provided, however,
that if Service Provider reasonably believes that a reduced rate of withholding Tax applies or Service Provider is exempt from withholding Tax, Service Provider shall provide Service Recipient with appropriate and customary documentation to Service
Recipient that Service Provider qualifies for a reduction to or exemption from withholding under applicable Law. 
 3.9 With respect to any
Service Fees that accrue or are incurred by Service Provider or its Affiliates during the Transition Period but that are not billed by Service Provider in a monthly invoice, or of which Service Provider does not become aware until after the
Transition Period, Service Provider shall set forth such fees in an invoice or invoices submitted to Service Recipient following the end of the Transition Period (each, a “Post-Term Invoice”). Subject to Section 3.10,
and so long as such Post-Term Invoice is received by Service Recipient as promptly as practicable and in any event within one (1) year following the Transition Period, Service Recipient shall remit payment under any such Post-Term Invoice to
Service Provider within thirty (30) days after its receipt of such invoice. 
 3.10 In connection with Section 3.3 or
3.9, in the event of an invoice dispute of which Service Recipient is aware, Service Recipient shall deliver a written statement to Service Provider no later than ten (10) days prior to the date payment is due on the disputed invoice
listing all disputed items and providing a reasonably detailed description of each disputed item. Amounts not in dispute amongst the Parties shall be deemed accepted and shall be paid, notwithstanding disputes on other items, within the period set
forth in Section 3.3 or 3.9, as applicable. The Parties shall use their reasonable best efforts to resolve all such other disputes expeditiously and in good faith with Service Provider continuing to perform the Services in
accordance with this Agreement pending resolution of any dispute. When the disputed amount has been resolved, either by mutual agreement of the Parties or in accordance with the processes and procedures set forth in Section 5.2(c) of the
Contribution and Distribution Agreement, any Party owing an amount to another Party as a result of such resolution shall pay such amount 

  
 11 

 
owed to such other Party within ten (10) Business Days following such resolution. This Section 3.10 (including any resolution of a dispute in accordance with this
Section 3.10) shall not relieve Service Provider of its obligations to perform the Services. 
 3.11 Each of the Parties hereby
acknowledges that it shall have no right under this Agreement to offset any amounts owed (or to become due or owing) to the other Party, whether under this Agreement, the Contribution and Distribution Agreement, the Merger Agreement or otherwise,
against any other amount owed (or to become due or owing) to it by the other Party. 
  

	4.	ACCESS 

 The Service Provider and Service Recipient shall, and shall cause their
respective Affiliates to, provide to each other and their respective agents and vendors reasonable access (during normal business hours (when appropriate with respect to physical access), upon reasonable notice and supervised by the appropriate
personnel of the Parties or as otherwise agreed by the Parties) to the information, personnel, and systems necessary for the efficient and accurate administration, provision, receipt or use of each of the Services and to avoid the duplication of any
expenses or benefits thereunder; provided that all such information shall be shared subject to the confidentiality obligations set forth in Section 11, and any Party or third-party vendor receiving such information shall agree to
be bound by such obligations prior to the provision of any such information. All Services provided will be based upon reasonably timely, accurate and complete information from Service Recipient, which Service Recipient shall use its reasonable best
efforts to provide, and Service Provider shall be released from its obligations to provide or cause to be provided reasonably timely, accurate and complete Services to the extent (but only to the extent) Service Recipient fails to provide timely,
accurate and complete information to Service Provider reasonably necessary for the provision of such Services. Service Recipient’s failure to perform or delay in performing any of its obligations hereunder will not constitute grounds for
termination by Service Provider of this Agreement except as provided in Section 12.2; provided, however, that Service Provider’s nonperformance of its obligations under this Agreement shall be excused if and to the
extent (i) such Service Provider’s nonperformance results from Service Recipient’s failure to perform its obligations hereunder and (ii) Service Provider provides Service Recipient with written notice of such nonperformance. 

 

	5.	TRANSITION 

 5.1 The Parties acknowledge and agree that the Services to be provided
hereunder are transitional in nature and are intended to provide Service Recipient with reasonable time to develop the internal resources and capacities (or to arrange for third-party providers) to provide such Services. No later than 90 days after
the Distribution Date, the Parties shall consult for the purpose of agreeing upon the terms of and a plan for the Migration of all Services. Service Recipient will have the primary responsibility for planning and carrying out the Migration of
Services prior to the expiration of the Transition Period. Subject to Section 5.2 below and the other terms of this Agreement, Service Provider will provide reasonable cooperation and assistance as requested to support the Service
Recipient’s Migration efforts. 
 5.2 To the extent that Service Recipient requires reasonable support, assistance and other services
to effect an orderly Migration without interruption to the Services subject to the 

  
 12 

 
Migration (“Migration Services”), Service Recipient shall submit a written request describing such Migration Services to Service Provider’s Project Manager, and upon at
least ten (10) days’ written notice to Service Provider, the Parties shall meet to discuss and agree, each Party acting reasonably and in good faith, on the scope of such Migration Services. Service Provider will then provide such
Migration Services and assistance on the timing schedule that is reasonably and mutually established by the Parties in good faith; provided that the Parties’ intent is that Migration Services shall include only such services that Service
Provider is capable of providing. Service Provider agrees to cooperate with and assist Service Recipient with training of its personnel, including making its personnel and facilities available to train an agreed number of Service Recipient’s
personnel in connection with the Migration during the Transition Period to permit Service Recipient to provide the Services for itself after the Transition Period. For any Migration Services, Service Recipient will pay to Service Provider the rate
set forth in Section 3.1. Any Migration Service that is provided or caused to be provided by Service Provider pursuant to this Section 5.2 shall be a “Transition Service” or a “Reverse Transition Service”,
as applicable, for the purposes of this Agreement (other than as specifically indicated herein). 
  

	6.	INDEMNITY 

 6.1 Service Provider shall indemnify Service Recipient and its Affiliates and
its and their respective officers, directors, employees, partners, managers or persons acting in a similar capacity, agents, consultants, financial and other advisors, accountants, attorneys and other representatives (the “Service Recipient
Indemnitees”) in respect of, and hold such Service Recipient Indemnitees harmless from and against, any and all Losses incurred or suffered by Service Recipient Indemnitees in connection with the receipt of the Services to the extent that
such Losses result from (i) the gross negligence or willful misconduct of Service Provider, any of its Affiliates or any of its or their respective officers, directors or employees, (ii) the violation of any applicable Law by Service
Provider with respect to this Agreement or (iii) Service Provider’s breach of this Agreement; provided, that, notwithstanding anything in this Agreement to the contrary (including the definition of Losses), Service Recipient
Indemnitees shall be entitled to indemnification hereunder if, and only to the extent, such negligence, misconduct, violation or breach remains uncured after a twenty (20) calendar day period (a “Notice Period”) following
receipt by Service Provider of written notice from the applicable Service Recipient Indemnitee or Service Recipient Indemnitees describing such negligence, misconduct, violation or breach in reasonable detail. 

6.2 The Service Recipient shall indemnify Service Provider and its Affiliates and its and their respective officers, directors, employees,
partners, managers or persons acting in a similar capacity, agents, consultants, financial and other advisors, accountants, attorneys and other representatives (the “Service Provider Indemnitees”) in respect of, and hold Service
Provider Indemnitees harmless from and against, any and all Losses incurred or suffered by Service Provider Indemnitees in connection with the provision of the Services to the extent that such Losses result from (i) the gross negligence or
willful misconduct of Service Recipient, any of its Affiliates or any of its or their respective officers, directors or employees, (ii) the violation of any applicable Law by Service Recipient with respect to this Agreement or such Services or
(iii) Service Recipient’s breach of this Agreement; provided, that, notwithstanding anything in this Agreement to the contrary (including the definition of Losses), Service Provider Indemnitees shall be entitled to indemnification
hereunder if, and only to the extent, such negligence, 

  
 13 

 
misconduct, violation or breach remains uncured after a Notice Period following receipt by Service Recipient of written notice from the applicable Service Provider Indemnitee or Service Provider
Indemnitees describing such negligence, misconduct, violation or breach in reasonable detail. 
 6.3 Each of the Parties agrees to use its
reasonable best efforts to mitigate its respective Losses upon and after becoming aware of any event or condition that would reasonably be expected to give rise to any Losses that are indemnifiable hereunder. 

6.4 The procedures specified in Article VI of the Contribution and Distribution Agreement shall apply with respect to any indemnification
claims under this Section 6. 
  

	7.	LIMITED WARRANTY; LIMITATION ON DAMAGES 

 NOTWITHSTANDING ANY PROVISION TO THE
CONTRARY, UNLESS EXPRESSLY SET FORTH HEREIN, THE SERVICE PROVIDER REPRESENTS AND WARRANTS ONLY THAT THE SERVICES SHALL BE IN CONFORMITY WITH THIS AGREEMENT (INCLUDING SECTION 2.3). THE ABOVE-STATED LIMITED WARRANTY IS THE SERVICE PROVIDER’S
SOLE AND EXCLUSIVE WARRANTY WITH RESPECT TO ANY SERVICES PROVIDED UNDER THIS AGREEMENT. THE SERVICE PROVIDER DOES NOT MAKE ANY OTHER WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY AND SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES, WHETHER OF
MERCHANTABILITY, SUITABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR OTHERWISE FOR SUCH SERVICES; PROVIDED THAT THIS SECTION 7 SHALL NOT LIMIT, ALTER OR OTHERWISE CHANGE THE RIGHTS AND OBLIGATIONS OF THE PARTIES PURSUANT TO ANY OTHER
TRANSACTION AGREEMENT, INCLUDING THE CONTRIBUTION AND DISTRIBUTION AGREEMENT. ANY REPRESENTATION OR WARRANTY IN RESPECT OF ANY SUCH SERVICE SHALL BE INCLUDED IN THE WRITTEN AGREEMENT SETTING FORTH THE TERMS OF SUCH SERVICE. 

IN NO EVENT SHALL ANY PARTY OR SUCH PARTY’S AFFILIATES, OR ANY OF ITS OR THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR
REPRESENTATIVES, BE LIABLE FOR SPECIAL, PUNITIVE, EXEMPLARY, CONSEQUENTIAL OR INDIRECT DAMAGES, WHETHER BASED ON CONTRACT, TORT, STRICT LIABILITY, OTHER LAW OR OTHERWISE, EXCEPT, IN THE CASE OF SPECIAL, CONSEQUENTIAL OR INDIRECT DAMAGES, TO THE
EXTENT REASONABLY FORESEEABLE AND ARISING AS A RESULT OF SUCH PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, AND IN ALL CASES EXCEPT TO THE EXTENT PAYABLE TO A THIRD PARTY. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, THE
LIABILITY OF SERVICE PROVIDER WITH RESPECT TO SERVICES PROVIDED PURSUANT TO THIS AGREEMENT, WHETHER IN CONTRACT, TORT OR OTHERWISE, SHALL NOT EXCEED THE FEES RECEIVED BY SERVICE PROVIDER PURSUANT TO THIS AGREEMENT, EXCEPT FOR DAMAGES ARISING AS A
RESULT OF SUCH PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 

  
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	8.	OBLIGATION TO PROVIDE SERVICES 

 The Parties acknowledge that notwithstanding any
delegation of their respective responsibilities under this Agreement to a third party, except as provided in the proviso in Section 2.10, such delegating Party shall remain responsible for the provision of the Services which such Party
is obligated to provide and any third-party’s compliance with the performance and standard of performance set forth herein. 
  

	9.	FORCE MAJEURE 

 9.1 Service Provider shall not be responsible for failure or delay in
delivery of any Service that it has responsibility for providing hereunder, if and to the extent caused by an act of God or public enemy, war, government acts, regulations or orders, fire, flood, embargo, quarantine, epidemic, labor stoppages or
disruptions, unusually severe weather or other similar cause beyond the control of Service Provider (a “Force Majeure Event”), provided that Service Provider shall have, promptly after knowledge of the beginning of a Force Majeure
Event, notified Service Recipient of such a Force Majeure Event, the reason therefor, and the estimated probable duration and consequence thereof. The Parties acknowledge and agree that such estimation shall not be considered binding in any way, and
Service Provider shall not incur liability of any kind if such estimation proves to be inaccurate. Service Provider shall use its reasonable best efforts to restore provision of the Services in accordance with this Agreement as soon as reasonably
practicable following the commencement of a Force Majeure Event. 
 9.2 In the event that Service Provider is excused from supplying a
Service pursuant to this Section 9, Service Recipient shall be free to acquire replacement services from a third party at Service Recipient’s expense, and without liability to Service Provider, for the period and to the extent
reasonably necessitated by such non-performance. 
  

	10.	INSURANCE 

 Each Party shall, throughout the term of this Agreement, carry appropriate
insurance with a reputable insurance company covering property damage, business interruptions and general liability insurance (including contractual liability) to protect its own business and property interests. To the extent either Party insures,
in whole or in part, through a plan of self-insurance, the Parties acknowledge that such self-insurance shall be acceptable for purposes of this Agreement. In the case of any conflict between the terms of this Section 10 and the terms of
the Contribution and Distribution Agreement, the Contribution and Distribution Agreement shall control. 
  

	11.	CONFIDENTIALITY OF INFORMATION 

 Except as provided below, all data and information
disclosed between Service Provider and Service Recipient pursuant to this Agreement, including information relating to or received from third parties and any Service Recipient Data, are deemed Confidential Information (as defined in the Contribution
and Distribution Agreement, subject, for the avoidance of doubt, to the limitations set forth in such definition). A Party receiving Confidential Information (the “Receiving Party”) shall not use such information for any purpose
other than for which it was 

  
 15 

 
disclosed by the party providing such information (the “Providing Party”) and, except as otherwise permitted by this Agreement, shall not disclose to third parties any
Confidential Information for a period of five (5) years from the termination or expiration of this Agreement or, with respect to any trade secrets, indefinitely. The obligations of the Receiving Party and the Providing Party with regard to
Confidential Information shall be governed by and set forth in Section 8.5 of the Contribution and Distribution Agreement, which shall be deemed incorporated by reference herein. In addition, nothing herein shall be deemed to limit or restrict
a Party from disclosing any Confidential Information in any action or proceeding by such Party to enforce any rights which such Party may have against the other Party; provided, that such Party shall, to the extent reasonable and not prejudicial to
such Party’s rights, cooperate with the other Party to protect the confidentiality of such Confidential Information, whether by means of a protective order, production under seal or otherwise. 

 

	12.	TERMINATION 

 12.1 This is a master agreement and shall be construed as a separate and
independent agreement for each and every Service provided under this Agreement. Any termination of this Agreement with respect to any Service shall not terminate this Agreement with respect to any other Service then being provided pursuant to this
Agreement. 
 12.2 Upon thirty (30) days’ prior written notice, Service Provider may, at its option, terminate this Agreement with
respect to any or all Services it provides hereunder or suspend performance of its obligations with respect thereto, in either case solely in the event of the failure of Service Recipient to pay any invoice within sixty (60) days of the receipt
of such invoice, unless Service Recipient is disputing the invoice in good faith pursuant to Section 3.10. 
 12.3 If at any
time during the applicable Term, Service Recipient wishes to terminate a Transition Service or a Reverse Transition Service, as the case may be, Service Recipient shall provide a written request of termination to Service Provider at least thirty
(30) days prior to the proposed effective date of termination. If Service Provider determines, in good faith, that the termination of such Service will, or is reasonably likely to, result in Service Provider’s inability to provide any
remaining Services in accordance with this Agreement (taking into account any interdependencies of the proposed terminated Service and the remaining Services), including with respect to the quality standards, or result in a Party’s inability to
maintain the confidentiality of data and information disclosed between Service Provider and Service Recipient pursuant to this Agreement, then Service Provider shall notify Service Recipient thereof in writing and the Parties shall negotiate in good
faith to determine an alternative solution to enable Service Provider to maintain the ability to provide all other Services not subject to such written request of termination provided in the first sentence of this Section 12.3;
provided that in the event the Parties fail to mutually agree upon an alternative solution, Service Recipient shall have the right, in its sole discretion, to cancel and withdraw all or part of such written request of termination and
thereafter such cancelled request shall be of no further force or effect or if Service Recipient does not cancel or withdraw all or part of such request, then such Service shall be terminated effective as of the last day of the month following the
thirty (30)-day notice period. Within thirty (30) days after the effective date of termination of the applicable Services and receipt of an invoice, Service Recipient shall pay all accrued, undisputed (any such dispute to be in good faith) and
unpaid charges for such Services that are due and payable and set forth in such invoice. Service 

  
 16 

 
Recipient will reimburse Service Provider for incremental fees charged by third-party service providers in connection with the termination of Services; provided, that Service Provider will
use its reasonable best efforts to minimize such incremental fees. 
 12.4 Upon termination or expiration of this Agreement for any reason,
Service Provider shall, upon the written request of Service Recipient, deliver to Service Recipient or destroy (provided such destruction is promptly confirmed in writing by Service Provider if requested by Service Recipient), at Service
Provider’s option, all data, records and other information provided to Service Provider by Service Recipient and pertaining to any matters for which Service Provider was providing Transition Services or Reverse Transition Services, as
applicable, hereunder; provided, however, Service Provider may retain copies of such data, records and information to the extent necessary for accounting, tax reporting, compliance with Service Provider’s document retention
policies or other legitimate business purposes, subject to the requirements of Section 11 hereof. 
  

	13.	RELATIONSHIP OF PARTIES 

 In providing the Services, Service Provider is acting as and
shall be considered an independent contractor. This Agreement is not intended to create and shall not be construed as creating between Service Provider and Service Recipient any relationship other than an independent contractor and purchaser of
contract services. The Parties specifically acknowledge that they are not, and this Agreement is not intended to and shall not be construed to make them, affiliates of one another and that no principal and agent, joint venture, partnership or
similar relationship, or any other relationship, that imposes or implies any fiduciary duty, including any duty of care or duty of loyalty exists between the Parties. Except as expressly set forth herein, no Party has the authority to, and each
Party agrees that it shall not, directly or indirectly contract any obligations of any kind in the name of or chargeable against the other Party without such other Party’s prior written consent. 

 

	14.	PROJECT MANAGERS 

 14.1 Service Provider and Service Recipient will each assign one
person to act as that Party’s project manager (the “Project Manager”) for each area of service listed on Schedule III hereto (and other categories, as may be agreed by the Parties). The Project Managers will
(a) represent and act for their respective Party for matters related to the applicable Service, and (b) meet and/or confer on a regular basis (at mutually agreed times and locations) to review the activities under this Agreement and to
discuss the status and progress of such activities. All disputes or issues arising hereunder will be referred to the applicable Project Managers for resolution. In the event any such dispute or issue is not resolved in a timely manner, such matter
will be referred to senior management representatives, with appropriate decision making authority for prompt resolution of the matter. If still not resolved, the issue will be escalated to Service Recipient’s lead representative and Service
Provider’s lead representative for resolution. The names and contact information for each of Service Recipient’s and Service Provider’s lead representative with regard to an issue or dispute arising out of or relating to the
Transition Services and Reverse Transition Services shall be set forth on Scheduled III hereto. Either Party may designate a different individual as its lead representative with respect to the Transition Services or the Reverse Transition
Services at any time by delivering prior written notice to the 

  
 17 

 
other Party. The foregoing shall not in any way limit the rights of the Parties to pursue any other legal and equitable remedies available to them hereunder in the event of a breach of this
Agreement. No Project Manager or lead representative for a Party shall have any authority to amend this Agreement. 
 14.2 Service Provider
will promptly notify Service Recipient of any reassignments or changes in contact information of the Project Manager or other key personnel identified in the Schedules hereto. 

14.3 The Parties agree to use good faith efforts to resolve any controversy or claim arising out of this Agreement, the interpretation of any
of the provisions hereof, or the actions of the Parties hereunder. In the event of a breach of this Agreement, or a dispute as to the meaning of this Agreement or any of its terms which the Parties cannot resolve by themselves amicably, the
following provisions shall apply (which provisions shall be in addition to, and not a limitation of, the Parties’ remedies under Section 6, Section 20.6 or, to the extent referred to pursuant to the terms of this
Agreement, the dispute resolution mechanisms available under Section 5.2(c) of the Contribution and Distribution Agreement): 

(a) The Parties shall endeavor to resolve the dispute as contemplated in Section 14.1. 

(b) If within thirty (30) days after one Party notifies the other in writing of the existence of a dispute, either Party
may, at its option, provide written notice of the intent to arbitrate. In the event the Party that is the recipient of such notice agrees to arbitrate, arbitration shall be according to the rules of the American Arbitration Association, except as
herein modified by the Parties or otherwise as agreed to by the Parties. Within ten (10) days of the agreement of the Parties to arbitrate, each Party will select an arbitrator, and notify the other Party of its selection. Within fifteen
(15) days after receipt of such notice, the respective arbitrators will select a third arbitrator. All such arbitrators shall have experience in the respective businesses of the Parties. A hearing by the arbitration panel must be held within
thirty (30) days after the selection of a chairman and a majority decision of the panel and resolution must be reached within thirty (30) days of such hearing. Decisions of the panel must be in writing and will be final and binding upon
the Parties, and judgment may be entered thereon by any court having jurisdiction. 
 (c) The arbitration proceedings will be
held in New York, New York, unless the Parties agree to a different location. All negotiation and arbitration proceedings will be confidential and will be treated as compromise and settlement negotiations for purpose of all rules of evidence. Each
Party shall bear its own cost of presenting its case, and one-half of the cost incurred by the arbitration panel, or any mediation or alternative dispute resolution procedure, as the case may be, unless the arbitration panel determines otherwise.

 14.4 Nothing in this Section 14 shall supersede the notice/cure and termination rights of the Parties otherwise set forth in
this Agreement. This Section 14 shall apply without prejudice to any Party’s right to seek equitable remedies or injunctive relief to which such Party may be entitled at any time. 

  
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	15.	RECORDS 

 15.1 Service Provider shall retain, for a period of three (3) years
following the Distribution Date, all books, records, files, databases or computer software or hardware (including current and archived copies of computer files) (the “Materials”) with respect to matters relating to the Services
provided to Service Recipient hereunder that are in a form and contain a level of detail substantially consistent with the records maintained by Service Provider in providing similar services to the Spinco Business or the IP Business, as applicable,
prior to the Distribution Date (unless any such Materials have been delivered to Service Recipient or Service Recipient otherwise other has a copy of such information). Each Party agrees to use its reasonable best efforts to provide the other Party
with notice of material modifications to its record retention policies in a timely manner. As promptly as practicable following the expiration of the applicable duration (or earlier termination) of each Service, Service Provider will use its
reasonable best efforts to furnish to Service Recipient in the form reasonably requested by Service Recipient, and assist in the transition of, the Materials belonging to Service Recipient and relating to such Service as clearly identified by
Service Recipient. If at any time during the three (3) year period following the Distribution Date Service Recipient reasonably requests in writing that certain of such Materials be delivered to Service Recipient, Service Provider promptly
shall arrange for the delivery of the requested Materials in a form reasonably requested by Service Recipient to a location specified by, and at the expense of, Service Recipient (unless any such Materials have been delivered to Service Recipient or
Service Recipient otherwise other has a copy of such information). 
 15.2 The Service Recipient Data shall be and shall remain the property
of Service Recipient and, to the extent reasonably practicable, shall be promptly provided to Service Recipient by Service Provider upon Service Recipient’s request. The Service Provider shall use Service Recipient Data solely to provide the
Services to Service Recipient as set forth herein and for no other purpose whatsoever. 
 15.3 Notwithstanding anything herein to the
contrary and subject to Section 11, Service Provider may retain copies of the Materials and Service Recipient Data in accordance with policies and procedures implemented by Service Provider in order to comply with applicable Law,
professional standards or reasonable business practice, including document retention policies as in effect from time to time and in accordance with past practices. 
  

	16.	INTELLECTUAL PROPERTY 

 Unless otherwise specifically provided herein, this Agreement
shall not transfer ownership of any Intellectual Property Assets from either Party to the other Party or to any third party. Ownership of any Intellectual Property Assets created by a Service Provider in connection with providing a Service to a
Service Recipient under this Agreement shall be retained by such Service Provider, unless based on Service Recipient’s Confidential Information. If Service Provider creates any Intellectual Property in connection with providing a Service based
on Service Recipient’s Confidential Information, then the creation of such Intellectual Property that is primarily related to or arising from the Spinco Business shall be considered a “work made for hire” under applicable Law and
shall be owned by Service Recipient. If such creation is not considered a “work made for hire” under applicable Law, then Service Provider hereby 

  
 19 

 
irrevocably assigns, and shall assign, to Service Recipient, without further consideration, all of Service Provider’s worldwide right, title, and interest in and to such Intellectual
Property. Solely to the extent required for the provision or receipt of the Services in accordance with this Agreement, each Party (the “Licensor”), for itself and on behalf of its Affiliates, hereby grants to the other (the
“Licensee”) (and the Licensee’s Affiliates) a non-exclusive, revocable (solely as expressly provided in this Agreement), non-transferable (other than pursuant to Section 17), non-sublicensable (except to third parties as
required for the provision or receipt of Services, but not for their own independent use), royalty-free, worldwide license during the term of this Agreement to use Intellectual Property of the Licensor in connection with this Agreement, but only to
the extent and for the duration necessary for the Licensee to provide or receive the applicable Service under this Agreement. Subject to the rights and licenses granted to Licensee under any other agreement to which the Parties are party, upon the
expiration of such term, or the earlier termination of such Service in accordance with this Agreement, the license to the relevant Intellectual Property will terminate and Licensee shall cease use of such Intellectual Property; provided, that
all licenses granted hereunder shall terminate immediately upon the expiration or earlier termination of this Agreement in accordance with the terms hereof and upon such expiration or termination, Licensee shall cease use of the Intellectual
Property licensed hereunder. The foregoing license is subject to any licenses granted by others with respect to Intellectual Property not owned by the Parties or their respective Affiliates. 

 

	17.	ASSIGNMENT AND DELEGATION 

 This Agreement and all of the provisions hereof shall be
binding upon and shall inure to the benefit of the Parties hereto and their respective successors and permitted assigns. Except as set forth in Section 2.10, neither this Agreement nor any of the rights, interests or obligations
hereunder shall be assigned or delegated, directly or indirectly, in whole or in part, including by operation of law, by any Party hereto without the prior written consent of the other Party hereto, which consent shall not be unreasonably withheld;
provided, however, that either Party may assign this Agreement to any of its Affiliates without the consent of the other Party or delegate its rights or obligations hereunder, in whole or in part, to any of its Affiliates;
provided, further, that Spinco may assign any or all of its rights or interests under this Agreement without the consent of IP (a) to any Person providing the Special Payment Financing pursuant to the terms thereof for purposes of
creating a security interest herein or otherwise assign as collateral in respect of such Special Payment Financing or (b) to any purchaser of all or substantially all of the assets of such Person. No assignment by any Party shall relieve such
Party of any of its obligations hereunder; provided that to the extent full performance or payment is made in full by an Affiliate or Affiliates of Service Provider or Service Recipient with respect to an obligation of Service Provider or
Service Recipient, as applicable, hereunder, such obligation shall be in full satisfaction of such obligation of such Person hereunder. 
  

	18.	NOTICES 

 The procedures specified in Section 10.2 (Notices) of the Contribution and
Distribution Agreement shall apply with respect to all notices, requests, claims, demands and other communications under this Agreement. 

  
 20 

	19.	SURVIVAL 

 The Parties’ rights and obligations under Sections 3,
6, 7, 8, 11 and 14 through 20 shall survive expiration or termination of this Agreement. 
  

	20.	GENERAL PROVISIONS 

 20.1 Severability. If any provision of this Agreement or the
application of any such provision to any Person or circumstance shall be declared judicially to be invalid, unenforceable or void, such decision shall not have the effect of invalidating or voiding the remainder of this Agreement, it being the
intent and agreement of the Parties that this Agreement shall be deemed amended by modifying such provision to the extent necessary to render it valid, legal and enforceable while preserving its intent or, if such modification is not possible, by
substituting therefor another provision that is valid, legal and enforceable and that achieves the original intent of the Parties. 
 20.2
Counterparts. This Agreement may be executed in one or more counterparts each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Delivery of an executed
counterpart of a signature page to this Agreement by facsimile or portable document format (PDF) shall be as effective as delivery of a manually executed counterpart of any such Agreement. 

20.3 Entire Agreement. This Agreement and the Schedules hereto together with the other Transaction Agreements and any schedules and
exhibits thereto, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. In the case of any
conflict between the terms of this Agreement and the terms of any other Transaction Agreement regarding the subject matter hereof, the terms of this Agreement shall control. In the case of any ambiguity between the terms and condition of the main
body of this Agreement and a Schedule to this Agreement, or with respect to an Omitted Service or an Additional Service, the terms and conditions of the main body of this Agreement shall control. 

20.4 Amendments; Waivers. This Agreement may not be amended except by an instrument in writing signed by both Parties. No failure or
delay by either Party in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right hereunder. Any agreement on
the part of either Party to any such waiver shall be valid only if set forth in an instrument in writing signed on behalf of such Party. 

20.5 No Third Party Beneficiaries. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person (other
than IP, Spinco and UWWH and their respective successors and permitted assigns who are express intended third-party beneficiaries) any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement, and,
except with regard to and as provided in Section 6, no Person shall be deemed a third party beneficiary under or by reason of this Agreement. 

  
 21 

 20.6 Specific Performance. Notwithstanding anything to the contrary contained herein or in
any other Transaction Agreement, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Party who is, or is to be, thereby aggrieved will have the right to specific
performance and injunctive or other equitable relief in respect of its rights under this Agreement, in addition to any and all other rights and remedies at law or in equity. The Parties agree that the remedies at law for any breach or threatened
breach, including monetary damages, are inadequate compensation for any Loss and that any defense in any action for specific performance that a remedy at law would be adequate is waived. Any requirements for the securing or posting of any bond with
such remedy are waived by each of the Parties to this Agreement. 
 20.7 Waiver of Jury Trial. AS A SPECIFICALLY BARGAINED INDUCEMENT
FOR EACH OF THE PARTIES TO ENTER INTO THIS AGREEMENT (WITH EACH PARTY HAVING HAD OPPORTUNITY TO CONSULT COUNSEL), EACH OF THE PARTIES EXPRESSLY AND IRREVOCABLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING UNDER THIS AGREEMENT OR
ANY ACTION OR PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED HEREBY OR ANY OTHER TRANSACTION AGREEMENT, REGARDLESS OF WHICH PARTY INITIATES SUCH ACTION OR PROCEEDING, AND ANY ACTION OR PROCEEDING UNDER THIS AGREEMENT OR ANY ACTION OR
PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED HEREBY OR ANY OTHER TRANSACTION AGREEMENT SHALL BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY. 

20.8 Jurisdiction; Service of Process. ANY ACTION WITH RESPECT TO THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS ARISING HEREUNDER, OR
FOR RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT IN RESPECT OF THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS ARISING HEREUNDER BROUGHT BY THE OTHER PARTY OR PARTIES OR THEIR SUCCESSORS OR ASSIGNS, IN EACH CASE, SHALL BE BROUGHT AND DETERMINED
EXCLUSIVELY IN THE DELAWARE COURT OF CHANCERY AND ANY STATE APPELLATE COURT THEREFROM WITHIN THE STATE OF DELAWARE (OR, IF THE DELAWARE COURT OF CHANCERY DECLINES TO ACCEPT JURISDICTION OVER A PARTICULAR MATTER, ANY STATE OR FEDERAL COURT WITHIN THE
STATE OF DELAWARE). EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT, BY WAY OF MOTION, AS A DEFENSE, COUNTERCLAIM OR OTHERWISE, IN ANY ACTION WITH RESPECT TO THIS AGREEMENT (I) ANY CLAIM THAT IS NOT PERSONALLY SUBJECT TO
THE JURISDICTION OF THE ABOVE NAMED COURTS FOR ANY REASON OTHER THAN THE FAILURE TO SERVE IN ACCORDANCE WITH THIS SECTION 20.8, (II) ANY CLAIM THAT IT OR ITS PROPERTY IS EXEMPT OR IMMUNE FROM JURISDICTION OF ANY SUCH COURT OR FROM ANY
LEGAL PROCESS COMMENCED IN SUCH COURTS (WHETHER THROUGH SERVICE OF NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OF JUDGMENT, EXECUTION OF JUDGMENT OR OTHERWISE) AND (III) TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY CLAIM THAT (A) THE ACTION IN SUCH COURT IS BROUGHT IN AN INCONVENIENT FORUM, (B) THE VENUE OF SUCH ACTION IS IMPROPER OR (C) THIS AGREEMENT, OR THE 

  
 22 

 
SUBJECT MATTER HEREOF, MAY NOT BE ENFORCED IN OR BY SUCH COURTS. EACH OF THE PARTIES FURTHER AGREES THAT NO PARTY TO THIS AGREEMENT SHALL BE REQUIRED TO OBTAIN, FURNISH OR POST ANY BOND OR
SIMILAR INSTRUMENT IN CONNECTION WITH OR AS A CONDITION TO OBTAINING ANY REMEDY REFERRED TO IN THIS SECTION 20.8 AND EACH PARTY WAIVES ANY OBJECTION TO THE IMPOSITION OF SUCH RELIEF OR ANY RIGHT IT MAY HAVE TO REQUIRE THE OBTAINING, FURNISHING
OR POSTING OF ANY SUCH BOND OR SIMILAR INSTRUMENT. THE PARTIES HEREBY AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH ANY SUCH ACTION OR PROCEEDING IN THE MANNER PROVIDED IN SECTION 20.8, OR IN SUCH OTHER MANNER AS MAY BE
PERMITTED BY LAW, SHALL BE VALID AND SUFFICIENT SERVICE THEREOF AND HEREBY WAIVE ANY OBJECTIONS TO SERVICE ACCOMPLISHED IN THE MANNER HEREIN PROVIDED. 

20.9 Governing Law. This Agreement and all issues and questions concerning the construction, validity, enforcement and interpretation
of this Agreement (and all Schedules hereto) shall be governed by, and construed in accordance with, the Laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of
Delaware or any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the State of Delaware. In furtherance of the foregoing, the internal Laws of the State of Delaware shall control the interpretation and
construction of this Agreement (and all Schedules hereto), even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive Law of some other jurisdiction would ordinarily apply. 

20.10 Other Agreements. Nothing herein is intended to modify, limit or otherwise affect the representations, warranties, covenants,
agreements and indemnifications contained in the other Transaction Agreements, and such representations, warranties, covenants, agreements and indemnifications shall remain in full force and effect in accordance with the terms of such agreements, as
applicable. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

  
 23 

 IN WITNESS WHEREOF, the Parties have caused this Transition Services Agreement to be executed and
delivered by their duly authorized representatives as of the date first above written. 
  

			
	INTERNATIONAL PAPER COMPANY
		
	By:	 	  

		 	Name:
		 	Title:
	
	XPEDX HOLDING COMPANY
		
	By:	 	  

		 	Name:
		 	Title:

 Transition Services Agreement - Signature Page 

 Schedule I - Part A –Transition Services – Services to be Provided by IP

  

	1.	Service Fees for any cancelled Transition Service will no longer be charged in the period following Service cancellation. Service Fees will be charged by rounding up to whole billing units. 

 

	2.	With respect to any Service that involves non-dedicated or ad-hoc access to Service Provider’s employees, such access shall be reasonable and so as not to unreasonably interfere with the ordinary course duties of
such employees. 

  

									
	 	  	 Service Description
	  	 Term
	  	 Service Fee
	  	 Project Manager

	1.	  	 Accounting - Accounts Receivable:
  

•      Charles Paquet will assist the integration of global collection and accounts
receivable reporting processes into Service Recipient’s system; provided that, in no event shall the time he spends on providing such services exceed 50% of his daily work hours.
	  	6 months from the Distribution Date.	  	$4,553.28 per month.	  	 Service Provider: Ronald Borcky
  

Service Recipient: Sandhya Kukkillaya

					
	2.	  	 NetOp/Network Optimization
  

•      This xpedx Network Operations Planning Tool (“NetOp”) is developed
by IP Business Modeling and Optimization Services (“IP BMOS”). It does not include a completed capability to optimize and is only near the end of the pilot stage.
  

•      IP hereby assigns and transfers NetOp (including all Intellectual Property
owned and transferrable by IP therein) to Spinco “as is” without any warranty or guarantee of any kind whatsoever.
  

•      IP BMOS will provide reasonable assistance in support, maintenance,
training, bug-fixes and error-corrections, and installation during the Term specified herein.
  

•      IP BMOS will only provide the service via telephone, email or other
electronic communication methods.
  

•      Service Recipient is responsible for supplying data to NetOp and running
it.
	  	12 months from the Distribution Date, not to exceed a total of 25 person-hours during such 12 months period.	  	$200/hour	  	 Service Provider:
  

Sean MacDermant
  

Service Recipient:
  

Bob Pritchett

  
 1 

									
	 	  	 Service Description
	  	 Term
	  	 Service Fee
	  	 Project Manager

	3.	  	IT – See IT Schedule	  	See IT Schedule.	  	See IT Schedule.	  	 Service Provider:
  

David Kitkowski
  

Service Recipient:
  

Peg Scott

					
	4.	  	International Paper (Netherlands) B.V. (“IPNL”) –	  		  		  	
					
		  	 •    Global Supply Chain Data Maintenance Services - Master Data Management and Process in SAP
	  	6-12 months from the Distribution Date	  	$75/hour	  	
					
		  	 •    IP’s Supply Chain Center of Excellence will support IP’s IT-GOMAS (“GOMAS”) in Order
Management, Delivery or Source on as needed basis in connection with GOMAS’s services to IPNL under the TSA IT Schedule related to IPNL issues.
	  	6-12 months from the Distribution Date	  	$60/hour	  	
					
		  	 •    Finance/Accounting – David Lewis
	  	Finance/Accounting:	  	US$142/hour	  	
					
		  	 •    Provide accounts and back-ups to PriceWaterhouseCooper for corporate income tax return preparation and
follow up on PWC’s questions and information requests
	  	6 months from the Distribution Date.	  		  	
					
		  	 •    Cisco PL Project – Michal Wisniewski of International Paper Kwidzyn SP. Z O.O. continues to provide
service for this project; provided that, in no event shall the time he spends on providing services to IPNL exceed 50% of his monthly work hours.
	  	 Michal Wisniewski:
  

From Distribution Date to Sept. 30, 2014
	  	€1,226.73/month	  	

  
 2 

									
	 	  	 Service Description
	  	 Term
	  	 Service Fee
	  	 Project Manager

	5.	  	 Temporary Employment Arrangements
  

•    Mr. David Cerveny who is on International Paper Czech Republic, s.r.o. (“IP
Czech”) payroll and Mr. Simon Coe who is on International Paper (UK) Limited (“IP UK”) payroll (collectively, the “xpedx Employees”) are fully allocated to Spinco’s xpedx business. The parties hereto acknowledge and
agree that pursuant to the Employment Matter Agreement dated January 28, 2014 (the “EMA”), they are Spinco Group Employees (as defined therein).
  

•    Pursuant to Section 2.1(a) of the EMA, IP Czech and IP UK will continue to keep Mr.
Cerveny and Mr. Coe on their respective payroll during the term hereof and Spinco shall move them to its appropriate affiliate before the end of the term.
  

•    For the avoidance of doubt, Spinco agrees that if it fails to employ the xpedx Employees
in its affiliate prior to the end of the term, IP UK and IP Czech shall have the right to terminate the employment of these xpedx Employees and Spinco shall reimburse IP UK and IP Czech for all the respective severance payments and other benefits
that the xpedx Employees are entitled to and all reasonable cost and expenses associated with the termination of their employment.
	  	  
  
 12
months from the Distribution Date.
	  	  
  

David Cerveny:
  

CZK1,718,171 per year or CZK143,181 per month
  

Simon Coe:
  
  

GBP121,387 per year or GBP10,116 per month
	  	
					
	6.	  	 Import/ Export Trade Compliance:
  

•    International Paper trade compliance group remains available as a resource to continue
the process of preparing Spinco compliance team to function independently.
  

•    It is anticipated this assistance will take the form of:

 
 •    Phone calls or
emails from a member of the Spinco compliance team, to gain additional historical perspective on the trade compliance process at xpedx/ International Paper.
	  	  
  
 6
months from the Distribution Date
  
 It is expected this work shall be no more than 25
hours per month.
	  	  
  

ERIN RACCAH
  

BRIAN COPE
  

KRISTIN BROWN
  

DONNA MCCANN

.
	  	  
  

Service Provider: Erin Raccah
  

Service Recipient: TBD

  
 3 

									
	 	  	 Service Description
	  	 Term
	  	 Service Fee
	  	 Project Manager

		  	 •     In person meetings at a mutually agreeable time and location to
gain additional historical perspective on the trade compliance process at xpedx/ International Paper.
  

•     If not completed, continuation of the transition tasks as discussed pre-closing on
bi-monthly meetings.
  

•    This assistance will not be any of the following:

 
 •     Harmonized
Tariff Schedule classification
  

•     Preparing NAFTA certificates

 
 •     Approving new
foreign supplier and item set up review
  

•     Any other activity that would require a license under customs broker
regulations
	  		  	HOURLY RATE FOR EACH OF THE ABOVE SHALL BE A FULLY
LOADED HOURLY RATE AS MUTUALLY AGREED	  	

  
 4 

 Schedule I - Part B – Reverse Transition Services – Services to be Provided by
Spinco 
  

	1.	Service Fees for any cancelled Reverse Transition Service will no longer be charged in the period following Service cancellation. Service Fees will be charged by rounding up to whole billing units. 

 

	2.	With respect to any Service that involves non-dedicated or ad-hoc access to Service Provider’s employees, such access shall be reasonable and so as not to unreasonably interfere with the ordinary course duties of
such employees. 

  

	3.	For the purpose of this schedule, CTA means IP’s Container of the Americas business; IPG means IP’s Industrial Packaging business; CPB means IP’s Coated Paperboard business and P&CP means IP’s
Printing Papers business. 

  

									
	 	  	 Service Description
	  	 Term
	  	 Service Fee
	  	 Project Manager

	1.	  	 Third Party Warehousing Services: on the same terms and conditions as currently provided.

 
 Regional Distribution Centers (“RDCs”):

 
 •    La Mirada, CA

 
 •    Portland, OR

 
 With regard to all export shipment to Canada from the RDCs, Canadian Customs Invoice
required for such export shall be prepared by designated employees of IP (Service Recipient) and NOT by any employee of Spinco. The parties shall cooperate in good faith to ensure that all such export shipment be made on a timely basis.
	  	RDCs: 12 months from the Distribution Date.	  	 La Mirada, CA (IP owned facility):
  

Handling fee will be the actual labor cost plus a 15% mark-up thereof. The labor cost consists of:

 
 •    Warehouse: hourly
cost and hourly benefits
  

•    Office: hourly cost and hourly benefits (office)

 

•    Salaried/management: cost and benefits

 
 •    Overtime

 
 •    Reimbursement of
pass through operating supplies
  
 Portland, OR:

 
 •    Storage:
$4.56/sqf
  

•    Handling: $30.19/hour

 
 •    $10/hour for
material handling equipment used
  

•    $10.50/roll for the IPG roll stock

 
 •    Reimbursement of
pass through operating supplies
	  	  
  

Service Provider:
  

Robert Scully
  

Service Recipient:
  

Bill Travis for RDCs and Steve Abramowitz for DCs

  
 1 

									
	 	  	 Service Description
	  	 Term
	  	 Service Fee
	  	 Project Manager

		  	 Distribution Centers (“DCs”):
  

•    Columbia, MO
  

•    Denver, CO
  

•    Kansas City, KS
  

•    Lynchburg, VA
  

•    Omaha, NE
  

•    Syracuse, NY
  

•    Rochester, NY
	  	  
 DCs: 6 months from the Distribution Date
	  	  
 Columbia, MO: $9.05/bundle (including storage and handling)

 
 Denver, CO:

 
 •    Storage
$3.44/ton
  

•    Handling $3.35/ton

 
 Kansas City, KS (IP owned facility):

 
 •    Handling:

 
 •    $4.14/bundle
(CTA)
  
 •    $2.40/ton
(IPG)
  
 •    $5.39/ton
(CPB, P&CP)
  
 Lynchburg, VA:

 
 •    Storage
$1.50/pallet
  

•    Handling $3.00/pallet

 
 Omaha, NE (IP leased facility):

 
 •    Handling
$3.85/bundle
  
 Syracuse, NY:

 
 •    Storage
$3.32/ton
  

•    Handling $5.32/ton

 
 Rochester, NY:

 
 •    Storage
$4.00/pallet
  

•    Handling $6.25/pallet

 
 •    Crossdock:
$3.25/pallet
	  	

  
 2 

 IT Transition Services Schedule – Services to be Provided by IP 

Clarifications: 
  

	 	1.	Unless otherwise indicated with respect to a particular Service, the anticipated term of services is 12 months from the Closing Date. 

 

	 	2.	With respect to any Service that involves non-dedicated or ad-hoc access to Service Provider’s employees, such access shall be reasonable and so as not to unreasonably interfere with the ordinary course duties of
such employees. 

  

	 	3.	Unless specified by a specific service, service fees for any cancelled Service will no longer be charged starting the month following service cancellation. Fees will be charged by rounding up to whole billing units.

  

	 	4.	WAN services cannot be cancelled prior to Facility Services cancellation. 

  

	 	5.	Commercial software licensing will be transferred to the Acquiring Company where allowed by vendor agreement and agreed to by the Acquiring Company, and does not expose IP usage not related to xpedx. IP will use
reasonable best efforts to assign/transfer. 

  

	 	6.	Each individual service component listed under the broader categories under “Service Description” is treated as a separate Transition Service for purposes of Section 12.3. 

 

									
	 	  	 Service Description
	  	 Term
	  	 Service Fee
	  	 Project Manager

	 1.
	  	 Enterprise Data Center Services
  

Provide data center facilities, infrastructure and services for enterprise applications used by the Acquired Companies, and for Acquired Companies applications
and servers hosted in Service Provider data centers.
	  	12 months from the Distribution Date.	  	 $552,179
  

Per month.
	  	 Service Provider: David Kitkowski
  

Service Recipient: Rick Vando

					
	 2.
	  	 WAN Sevices
  

Provide a centrally managed, private data network supporting connectivity between the Service Provider’s data centers and each Acquired Company site
connected at Closing.
	  	12 months from the Distribution Date.	  	 $214,647
  

Per month
	  	 Service Provider: David Kitkowski
  

Service Recipient: Rick Vando

					
	 3.
	  	 Remote Access
  

Provide the infrastructure and services for secure external (off network) access via the internet gateways to the Service Provider’s network (and, through
it, to Service Provider and Acquired Company applications and network services), including the following:
  

•      VPN access for employees who are set up to access Service Provider or
Service Recipient applications via the internet
	  	12 months from the Distribution Date.	  	 $32,484
  

Per month
	  	 Service Provider: David Kitkowski
  

Service Recipient: Rick Vando

					
		  	 •      Restricted access through secure internet connections to selected 3rd party suppliers,
business partners, etc.
	  		  		  	

  
 1 

									
	 	  	 Service Description
	  	 Term
	  	 Service Fee
	  	 Project Manager

	4.	  	 Facility Support
  

Provide remote support for Local Area Networks, Servers, Domain Management, Active Directory, Help Desk, Backup and Security Services, Intranet Access,
Internet Access & Content Filtering, Network Printers
	  	12 months from the Distribution Date.	  	 $613,373
  

Per month
	  	 Service Provider: David Kitkowski
  

Service Recipient: Rick Vando

					
	5.	  	 Messaging
  

Provide email forwarding from xyz@ipaper.com accounts to the Veritiv equivalents for up to 120 days from Service Commencement Date. During that time, employees
will have access to information stored in their IP email accounts and Service Provider will provide technical support for such access.
	  	12 months from the Distribution Date.	  	 $2,604
  

Per month
	  	 Service Provider: David Kitkowski
  

Service Recipient: Rick Vando

					
	6.	  	 Internet
  

Provide the infrastructure and services for the Acquired Company’s internet access.
	  	12 months from the Distribution Date.	  	 $141,560
  

Per month
	  	 Service Provider: David Kitkowski
  

Service Recipient: Rick Vando

					
	7.	  	 Document Management
  

Provide infrastructure and services to support document storage and retrieval.
	  	12 months from the Distribution Date.	  	 $21,419
  

Per month
	  	 Service Provider: David Kitkowski
  

Service Recipient: Rick Vando

  
 2 

									
	 	  	 Service Description
	  	 Term
	  	 Service Fee
	  	 Project Manager

	8.	  	 Telecom Services
  

Provide the infrastructure and services for Acquired Company voice communications, including the following: Enterprise voice (local and long distance calling),
International calling, PBX System and Support, 1-800 numbers, Conference calling
	  	12 months from the Distribution Date.	  	$355,319*	  	Service Provider: David Kitkowski Service Recipient: Rick Vando
					
	9.	  	 Business IT
  

Contracts and services not transferred to the Acquiring Company related to AS400 services, application support and software maintenance for business
applications
	  	12 months from the Distribution Date.	  	$1,333,333**	  	 Service Provider: David Kitkowski
 Service
Recipient: Rick Vando

					
	10.	  	 On-site Support
  

On-site break/fix support services and on-site service requests will be billed at actual hours including travel time. Travel expenses for on-site services
requiring air travel and/or overnight lodging will be agreed to in advance of travel. These expenses will be consistent with the IP travel policy and billed at actual.
	  	12 months from the Distribution Date.	  	$75 per hour	  	 Service Provider: David Kitkowski
 Service
Recipient: Rick Vando

					
	11.	  	 Migration Services/Cutover Services
  

1.      Services related to migration planning, preparation or transition cutover will
be billed at actual hours including travel time. Any travel requiring overnight lodging or air travel will be agreed to in advance of travel. These expenses will be consistent with the Service Provider’s travel policy and billed at actual.

 
 2.      Any
third party costs incurred by Service Provider for the purpose of planning, preparation or transition cutover will be billed at actual.
	  	12 months from the Distribution Date	  	$200 per hour	  	 Service Provider: David Kitkowski
 Service
Recipient: Rick Vando

  

	*	Telecom Services – these costs are pass thru and will be billed as received from the vendor with the exception of IPT phone system services which will be supplied by IP. 

	**	Business IT – these costs are pass thru and will be billed as received from the vendor. 

 IT Services
exclude the following: 
  

	 	1.	Systems (applications, devices, servers, storage, telephones, etc.) which are supported immediately prior to the Distribution by employees of Service Provider who are employed in the business. 

 

	 	2.	Disaster Recovery services for applications, devices, servers, etc. which are not in place or available immediately prior to the Distribution. 

 

	 	3.	System (applications, devices, servers, storage, telephones, etc) upgrades, replacements or enhancements. 

  

	 	4.	Procurement services (hardware, software, services, etc), except as provided in Part A of Schedule I hereto. 

  

	 	5.	Email hosting, filtering and delivery, excluding email forwarding. 

  
 3 

	 	6.	Non-production Enterprise Application environments. 

  

	 	7.	The Service Provider is not responsible for the renewal or cost of renewal of maintenance, license or support contracts for any software, hardware or services that are Transferred Assets, except as otherwise provided in
the Transition Services Agreement. 

  
 4

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