Document:

First Supplemental Indenture

 Exhibit 4.2 

 
  

 
 BARCLAYS BANK PLC, 

Issuer 
 and

 THE BANK OF NEW YORK MELLON, 
 Trustee 
  
  

FIRST SUPPLEMENTAL INDENTURE 
 Dated as of November 21, 2012 
  

 
 To the Indenture, dated as of
October 12, 2010, 
 Between Barclays Bank PLC, Issuer 

and 
 The Bank of
New York Mellon, Trustee 
 $3,000,000,000 7.625% Contingent Capital Notes due November 2022 

 
  

 

 BARCLAYS BANK PLC 
 Reconciliation and tie between Trust Indenture Act of 1939, as amended by the Trust Indenture Reform Act of 1990, and this First Supplemental Indenture, dated as of November 21, 2012. 

 

			
	 Trust Indenture Act Section
	  	 Indenture Section*

	 §310 (a)(1)
	  	6.09
	 (a)(2)
	  	6.09
	 (a)(3)
	  	Not Applicable
	 (a)(4)
	  	Not Applicable
	 (b)
	  	6.08, 6.10
	 (c)
	  	Not Applicable
	 §311 (a)
	  	6.13
	 (b)
	  	6.13
	 (c)
	  	Not Applicable
	 §312 (a)
	  	7.01, 7.02(a)
	 (b)
	  	7.02(b)
	 (c)
	  	7.02(c)
	 §313 (a)
	  	7.03(a)
	 (b)
	  	7.03(a)
	 (c)
	  	1.06, 7.03(a)
	 (d)
	  	7.03(b)
	 §314 (a)
	  	7.04
	 (b)
	  	Not Applicable
	 (c)(1)
	  	1.02
	 (c)(2)
	  	1.02
	 (c)(3)
	  	Not Applicable
	 (d)
	  	Not Applicable
	 (e)
	  	1.02
	 (f)
	  	Not Applicable
	 §315 (a)
	  	6.01, 6.03
	 (b)
	  	6.02
	 (c)
	  	5.04, 6.01
	 (d)(1)
	  	6.01, 6.03
	 (d)(2)
	  	6.01, 6.03
	 (e)
	  	5.14
	 §316 (a)(1)(A)
	  	5.02, 5.12
	 (a)(1)(B)
	  	5.13
	 (a)(2)
	  	Not Applicable
	 (a)(last sentence)
	  	1.01
	 (b)
	  	5.08

  

	*	Section numbers refer to the Base Indenture unless otherwise indicated. 

  
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	 §317 (a)(1)
	  	3.02 of First Supplemental Indenture
	 (a)(2)
	  	5.04
	 (b)
	  	10.03
	 §318 (a)
	  	1.07

 NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be a part of this First Supplemental Indenture
or the Dated Subordinated Debt Securities Indenture. 

  
 - ii -

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  			
			
	 SECTION 1.01
	  	Definitions	  	 	2	  
	 SECTION 1.02
	  	Effect of Headings	  	 	6	  
	 SECTION 1.03
	  	Separability Clause	  	 	6	  
	 SECTION 1.04
	  	Benefits of Instrument	  	 	6	  
	 SECTION 1.05
	  	Relation to Base Indenture	  	 	6	  
	
	ARTICLE II	  
	
	$3,000,000,000 7.625% CONTINGENT CAPITAL NOTES DUE NOVEMBER 2022	  
			
	 SECTION 2.01
	  	Creation of Series; Establishment of Form	  	 	6	  
	 SECTION 2.02
	  	Interest	  	 	7	  
	 SECTION 2.03
	  	Payment of Principal, Interest and Other Amounts	  	 	8	  
	 SECTION 2.04
	  	Optional Tax Redemption	  	 	8	  
	 SECTION 2.05
	  	Regulatory Event Redemption	  	 	9	  
	 SECTION 2.06
	  	Limitations on Redemption	  	 	10	  
	 SECTION 2.07
	  	Automatic Transfer upon Capital Adequacy Trigger Event	  	 	11	  
	
	ARTICLE III	  
	
	DEFAULTS AND REMEDIES	  
			
	 SECTION 3.01
	  	Events of Default	  	 	15	  
	 SECTION 3.02
	  	Defaults, Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	15	  
	
	ARTICLE IV	  
	
	SUBORDINATION	  
			
	 SECTION 4.01
	  	Notes Subordinate to Claims of Senior Creditors	  	 	18	  
	
	ARTICLE V	  
	
	ADDITIONAL AMOUNTS	  
			
	 SECTION 5.01
	  	Additional Amounts	  	 	19	  

  
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	ARTICLE VI	 
	
	MISCELLANEOUS PROVISIONS	 
			
	 SECTION 6.01
	  	Effectiveness	  	 	21	  
	 SECTION 6.02
	  	Original Issue	  	 	21	  
	 SECTION 6.03
	  	Ratification and Integral Part	  	 	21	  
	 SECTION 6.04
	  	Priority	  	 	21	  
	 SECTION 6.05
	  	Successors and Assigns	  	 	21	  
	 SECTION 6.06
	  	Counterparts	  	 	21	  
	 SECTION 6.07
	  	Governing Law	  	 	21	  
		
	 EXHIBIT A – Form of Global Note
	  	 	A-1	  
	 EXHIBIT B – Form of Automatic Transfer Notice
	  	 	B-1	  
	 EXHIBIT C – Form of Capital Adequacy Trigger Event Officers’ Certificate
	  	 	C-1	  

  
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 FIRST SUPPLEMENTAL INDENTURE, dated as of November 21, 2012 (the “First
Supplemental Indenture”) between BARCLAYS BANK PLC, a public limited company registered in England and Wales (herein called the “Company”), having its registered office at 1 Churchill Place, London E14 5HP, United Kingdom and THE BANK
OF NEW YORK MELLON, a New York banking corporation, as Trustee (herein called the “Trustee”), having its Corporate Trust Office at 101 Barclay Street, New York, New York 10286, to the DATED SUBORDINATED DEBT SECURITIES INDENTURE, dated as
of October 12, 2010 between the Company and the Trustee, as amended from time to time (the “Base Indenture” and, together with this First Supplemental Indenture, the “Indenture”). 

RECITALS OF THE COMPANY 
 WHEREAS, the Company and the Trustee are parties to the Base Indenture, which provides for the issuance by the Company from time to time of Dated Subordinated Debt Securities in one or more series;

 WHEREAS, Section 9.01(f) of the Base Indenture permits supplements thereto without the consent of Holders of Dated
Subordinated Debt Securities to establish the form or terms of Dated Subordinated Debt Securities of any series as permitted by Sections 2.01 and 3.01 of the Base Indenture; 
 WHEREAS, as contemplated by Section 3.01 of the Base Indenture, the Company intends to issue a new series of Dated Subordinated Debt Securities to be known as the Company’s “$3,000,000,000
7.625% Contingent Capital Notes due November 2022” (the “Notes”) under the Indenture; 
 WHEREAS, the Company has
taken all necessary corporate action to authorize the execution and delivery of this First Supplemental Indenture; 
 NOW,
THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH: 
 For and in consideration of the premises and the other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Trustee mutually agree as follows with regard to the Notes: 

  
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 ARTICLE I 
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 SECTION 1.01
Definitions. 
 Except as otherwise expressly provided or unless the context otherwise requires, all terms used in this
First Supplemental Indenture that are defined in the Base Indenture shall have the meanings ascribed to them in the Base Indenture. The following terms used in this First Supplemental Indenture have the following respective meanings with respect to
the Notes only: 
 “Additional Amounts” has the meaning set forth in Section 5.01(a).

 “Automatic Transfer” means the automatic transfer of interests in the Notes from the
Pre-Transfer Holders to the Parent (or another entity within the Group), for nil consideration, prior to the Stated Maturity, in accordance with the provisions of this First Supplemental Indenture. 

“Automatic Transfer Notice” means the written notice delivered by the Company to the Trustee and the
Pre-Transfer Holders via DTC (or, if the Notes are held in definitive form, the Trustee), in the form hereto attached as Exhibit B, specifying that a Capital Adequacy Trigger Event has occurred and that an Automatic Transfer shall therefore
take place. 
 “Base Indenture” has the meaning set forth in the Recitals. 

“Business Day” means any weekday, other than one on which banking institutions are authorized or
obligated by law or executive order to close in London, England, or in New York City. 
 “Capital
Adequacy Trigger Event” means the CET1 Ratio as of any Quarterly Financial Period End Date or Extraordinary Calculation Date, as the case may be, is less than 7.00% on such date. 

“Capital Adequacy Trigger Event Officers’ Certificate” has the meaning set forth in
Section 2.07(e). 
 “CET1 Capital” means (i) as of any Quarterly Financial Period End
Date or Extraordinary Calculation Date that falls before the CRD IV Adoption Date, the sum, expressed in pounds sterling, of all amounts that constitute core tier 1 capital of the Group as of such date, less any deductions from core tier 1 capital
required to be made as of such date, in each case as calculated by the Parent on a consolidated basis in accordance with the capital adequacy standards and guidelines of the FSA applicable to the Group on such Quarterly Financial Period End Date or
Extraordinary Calculation Date, as the case may be (which 

  
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calculation shall be binding on the Trustee, the Holders and the Pre-Transfer Holders), and (ii) as of any Quarterly Financial Period End Date or Extraordinary Calculation Date that falls on
or after the CRD IV Adoption Date, the sum, expressed in pounds sterling, of all amounts that constitute common equity tier 1 capital of the Group as of such date, less any deductions from common equity tier 1 capital required to be made as of such
date, in each case as calculated by the Parent on a consolidated basis in accordance with the capital adequacy standards and guidelines of the FSA applicable to the Group on such Quarterly Financial Period End Date or Extraordinary Calculation Date,
as the case may be (which calculation shall be binding on the Trustee, the Holders and the Pre-Transfer Holders). For the avoidance of doubt, the term “core tier 1 capital” as used in this definition shall have the meaning assigned to such
term in the capital adequacy standards and guidelines of the FSA (as supplemented by any published statement or guidance given by the FSA from time to time, including, for the avoidance of doubt, the guidance provided by the FSA on May 1, 2009
in its letter to the British Bankers’ Association regarding the “Definition of Core Tier 1 Capital”) and “common equity tier 1 capital” as used in this definition shall have the meaning assigned to such term in CRD IV as
interpreted and applied in accordance with the capital adequacy standards and guidelines of the FSA from time to time, but subject always to the transitional arrangements thereunder as interpreted by the FSA pursuant to its press release of
October 26, 2012 entitled “CRD IV transitional provisions on capital resources.” 
 “CET1
Ratio” means, as of any Quarterly Financial Period End Date or Extraordinary Calculation Date, as the case may be, the ratio of CET1 Capital as of such date to the Risk Weighted Assets as of the same date, expressed as a percentage.

 “Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Company” has the meaning set forth in the first paragraph of this First Supplemental Indenture, and
includes any successor entity. 
 “CRD IV” means the legislative package consisting of the
Directive and the Regulation of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms, the first drafts of which were published by the European Commission on July 20, 2011.

 “CRD IV Adoption Date” means the date on which the Regulation that forms part of CRD IV is
deemed to take effect in the United Kingdom according to the terms of such Regulation. 
 “Dated Debt
Senior Claims” has the meaning set forth in Section 4.01(b). 

  
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 “DTC” means The Depository Trust Company, or any successor
clearing system. 
 “Extraordinary Calculation Date” means any Business Day (other than a
Quarterly Financial Period End Date) on which the CET1 Ratio is calculated upon the instruction of the FSA. 

“FATCA Withholding Tax” has the meaning set forth in Section 5.01(b). 

“Financial Services Authority” or “FSA” means the Financial Services Authority of the
United Kingdom or such other governmental authority in the United Kingdom (or if the Company becomes domiciled in a jurisdiction other than the United Kingdom, such other jurisdiction) having primary responsibility for the prudential supervision of
the Company. 
 “First Supplemental Indenture” has the meaning set forth in the Recitals.

 “Group” means the Parent and its consolidated subsidiaries. 

“Indenture” has the meaning set forth in the first paragraph of this First Supplemental Indenture.

 “Interest Payment Date” has the meaning specified in Section 2.02(a). 

“Issue Date” has the meaning specified in Section 2.01(f). 

“Notes” has the meaning set forth in the Recitals. 

“Ordinary Reporting Date” means each Business Day on which Quarterly Financial Information is published
by the Parent. 
 “Parent” means Barclays PLC, a public limited company registered in England
and Wales, or any successor holding company of the Company. 
 “Pre-Transfer Holders” shall
mean (a) if the Notes are in global form, the beneficial owners of the Notes (and any interest therein) prior to the occurrence of the Automatic Transfer and (b) if the Notes are held in definitive form, the holders in whose names the
Notes are registered in the Dated Subordinated Debt Security Register and any beneficial owners holding an interest in such Notes held in definitive form, prior to the occurrence of the Automatic Transfer. 

“Prospectus Supplement” means the prospectus supplement with respect to the Notes, dated
November 14, 2012. 
 “Quarterly Financial Information” means the financial information of
the Group in respect of a fiscal quarter that is contained in the principal financial 

  
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report for such fiscal quarter published by the Parent. As of the date of this First Supplemental Indenture, the principal financial reports published by the Parent with respect to each fiscal
quarter are: (i) the Q1 interim management statement in respect of the first fiscal quarter, (ii) the interim results announcement in respect of the first half of the year (including the second fiscal quarter), (iii) the Q3 interim
management statement in respect of the first nine (9) months of the year (including the third fiscal quarter) and (iv) the results announcement in respect of the full year (including the fourth fiscal quarter). 

“Quarterly Financial Period End Date” means the last day of each fiscal quarter. 

“Regular Record Date” means the fifteenth (15th) calendar day preceding each Interest Payment Date, whether or
not such day is a Business Day. 
 “Regulatory Event” has the meaning set forth in
Section 2.05(a). 
 “Risk Weighted Assets” means, as of any Quarterly Financial Period End
Date or Extraordinary Calculation Date, as the case may be, the aggregate amount, expressed in pounds sterling, of the risk weighted assets of the Group as of such date, as calculated by the Parent on a consolidated basis in accordance with the
capital adequacy standards and guidelines of the FSA applicable to the Group on such date (which calculation shall be binding on the Trustee, the Holders and the Pre-Transfer Holders). For the avoidance of doubt, the term “risk weighted
assets” as used in this definition shall have the meaning assigned to such term in the capital adequacy standards and guidelines of the FSA applicable to the Group on the relevant Quarterly Financial Period End Date or Extraordinary Calculation
Date, as the case may be. 
 “Senior Creditors” means creditors of the Company (i) who are
depositors and/or other unsubordinated creditors of the Company; or (ii) who are subordinated creditors of the Company (whether as aforesaid or otherwise) other than those whose claims by law rank, or by their terms are expressed to rank,
pari passu with or junior to the claims of the Holders of the Notes. 
 “Stated
Maturity” has the meaning set forth in Section 2.01(g). 
 “Suspension Period”
means the period of five (5) Business Days (or such other period as DTC shall determine in accordance with its rules and procedures) commencing on the Business Day immediately following the date on which the Automatic Transfer Notice is
received by DTC; except that such period may commence on the second Business Day immediately following the date on which the Automatic Transfer Notice is received by DTC, if DTC so determines in its discretion in accordance with its rules and
procedures. 

  
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 “Tax Event” has the meaning set forth in
Section 2.04(a). 
 “Taxes” has the meaning set forth in Section 5.01(a). 

“Taxing Jurisdiction” has the meaning set forth in Section 5.01(a). 

“Trustee” has the meaning set forth in the first paragraph of this First Supplemental Indenture.

 SECTION 1.02 Effect of Headings. 
 The Article and Section headings herein are for convenience only and shall not affect the construction hereof. 
 SECTION 1.03 Separability Clause. 
 In case any provision in this First
Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 1.04 Benefits of Instrument. 
 Nothing in this First Supplemental Indenture, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or
equitable right, remedy or claim under the Indenture. 
 SECTION 1.05 Relation to Base Indenture. This First Supplemental
Indenture constitutes an integral part of the Base Indenture. Notwithstanding any other provision of this First Supplemental Indenture, all provisions of this First Supplemental Indenture are expressly and solely for the benefit of the Holders and
Pre-Transfer Holders of the Notes and any such provisions shall not be deemed to apply to any other Dated Subordinated Debt Securities issued under the Base Indenture and shall not be deemed to amend, modify or supplement the Base Indenture for any
purpose other than with respect to the Notes. 
 ARTICLE II 

$3,000,000,000 7.625% CONTINGENT CAPITAL NOTES DUE NOVEMBER 2022 

SECTION 2.01 Creation of Series; Establishment of Form. 
 (a) There is hereby established a new series of Dated Subordinated Debt Securities under the Base Indenture entitled the “$3,000,000,000 7.625% Contingent Capital Notes due November 2022.”

  
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 (b) The Notes shall be issued initially in the form of one or more registered Global
Securities that shall be deposited with DTC on the Issue Date. The Global Securities shall be registered in the name of Cede & Co. and executed and delivered in substantially the form attached hereto as Exhibit A. 

(c) The Company shall issue the Notes in an aggregate principal amount of $3,000,000,000. The Company may from time to time, without the
consent of the Holders of the Notes, issue additional Notes having the same terms as to status, redemption or otherwise as the Notes, except for the price to public and date of issue. Any such additional Notes subsequently issued shall rank equally
and ratably with the Notes in all respects, so that such further Notes shall be consolidated and form a single series with the Notes. 
 (d) Any proposed transfer of an interest in Notes held in the form of a Global Security shall be effected through the book-entry system maintained by DTC. 

(e) The Notes shall not have a sinking fund. 
 (f) The Notes shall be issued on November 21, 2012 (the “Issue Date”). 
 (g) The stated maturity of the principal of the Notes shall be November 21, 2022 (the “Stated Maturity”). 
 (h) The Outstanding principal amount of the Notes shall accrue interest at a rate equal to 7.625% per annum, as provided in Section 2.02(a). 

(i) The Notes shall be issued in denominations of USD 200,000 in principal amount and integral multiples of USD 1,000 in excess thereof.
The denominations cannot be changed without the consent of the Trustee. 
 SECTION 2.02 Interest. 

(a) The Notes shall accrue interest at a rate equal to 7.625% per annum, payable in two equal semi-annual installments in arrear on
May 21 and November 21 of each year (each, an “Interest Payment Date”), commencing on May 21, 2013; provided that if such Interest Payment Date is not a Business Day, the Interest Payment Date shall be postponed to
the next Business Day, and no further interest or other payment shall be owed or made in respect of such delay. Interest on the Notes shall be computed and payable on the basis of two equal semi-annual installments in arrear and, for any other
period, computed on the basis of a year of 360 days consisting of twelve (12) months of thirty (30) days each and, in the case of an incomplete month, the actual number of days elapsed. Interest shall accrue from (and including) the Issue
Date or from (and including) the most recent Interest Payment Date to which interest has been 

  
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paid or duly provided for, as the case may be, to (but excluding) the following Interest Payment Date. The provisions of Section 3.07(a) of the Base Indenture shall not apply to the Notes.

 (b) The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the
Indenture, be paid to the Person in whose name the relevant Note (or any Predecessor Security) is registered at the close of business on the Regular Record Date for such interest. 

SECTION 2.03 Payment of Principal, Interest and Other Amounts. Payments of principal of and interest on the Notes shall be made in
such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts and such payments on Notes represented by a Global Security shall be made through one or more Paying Agents
appointed under the Base Indenture to DTC or its nominee, as the Holder of the Global Security. Initially, the Paying Agent and the Dated Subordinated Debt Security Registrar for the Notes shall be The Bank of New York Mellon, 101 Barclay Street,
New York, New York 10286. The Company may change the Paying Agent or Dated Subordinated Debt Security Registrar without prior notice to the Holders of the Notes, and in such an event the Company may act as Paying Agent or Dated Subordinated Debt
Security Registrar. Payments of principal of and interest on the Notes represented by a Global Security shall be made by wire transfer of immediately available funds; provided, however, that in the case of payments of principal, such
Global Security is first surrendered to the Paying Agent. 
 SECTION 2.04 Optional Tax Redemption. 

With respect to the Notes only, this Section 2.04 hereby amends Section 11.08 of the Base Indenture in its entirety, and references in the Base
Indenture to Section 11.08 thereof shall be to such Section as amended by this Section 2.04. 
 (a) Subject to the
limitations specified in Section 2.06 of this First Supplemental Indenture, the Company may, at the Company’s option, redeem the Notes, in whole but not in part, upon not less than thirty (30) days’ nor more than sixty
(60) days’ notice to the Trustee and the Holders, at a redemption price equal to 100% of the principal amount of the Notes then Outstanding, together with any accrued but unpaid interest to (but excluding) the date fixed for redemption, if
the Company determines that as a result of any change in, or amendment to, the laws or regulations of a Taxing Jurisdiction, including any treaty to which the relevant Taxing Jurisdiction is a party, or a change in an official application or
interpretation of those laws or regulations, including a decision of any court or tribunal, which becomes effective on or after the Issue Date (and, in the case of a successor entity, which becomes effective on or after the date of that
entity’s assumption of the Company’s obligations): 

  
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 (i) the Company would be required to pay Additional Amounts to Holders;

 (ii) the Company would not be entitled to claim a deduction in respect of any payments in computing the
Company’s taxation liabilities or the amount of the deduction would be materially reduced; or 
 (iii) the
Company would not, as a result of the Notes being in issue, be able to have losses or deductions set against the profits or gains, or profits or gains offset by the losses or deductions, of companies with which the Company is or would otherwise be
so grouped for applicable United Kingdom tax purposes (whether under the group relief system current as at the Issue Date or any similar system or systems having like effect as may from time to time exist) (each of (i), (ii) and
(iii) above, a “Tax Event”); 
 provided, however, that the Notes may only be redeemed pursuant to this
Section 2.04 if (i) the circumstance that entitles the Company to exercise such right of redemption of the Notes was not in the Company’s opinion reasonably foreseeable at the Issue Date and (ii) in the case of each Tax Event,
such obligation cannot be avoided by the Company taking reasonable measures available to the Company. 
 (b) Prior to the
delivery of any notice of redemption pursuant to this Section 2.04, the Company shall deliver to the Trustee an opinion of independent counsel of recognized standing, chosen by the Company, in a form satisfactory to the Trustee confirming that
the Company is entitled to exercise its right of redemption. 
 (c) The notice provided to Holders in accordance with this
Section 2.04 (which notice shall be irrevocable) shall specify the date fixed for such redemption. 
 (d) Upon the expiry
of the notice period described in (a) above, the Company shall be bound to redeem the Notes accordingly. 
 (e) Any
successor entity that assumes the obligations of the Company pursuant to Section 8.03 of the Base Indenture shall also be entitled to redeem the Notes in accordance with this Section 2.04 with respect to any change or amendment to, or
change in the application or interpretation of the laws or regulations (including any treaty) of the successor entity’s jurisdiction of incorporation, which becomes effective on or after the date of that entity’s assumption of the
Company’s obligations. 
 SECTION 2.05 Regulatory Event Redemption. 

(a) Subject to the limitations specified in Section 2.06 of this First Supplemental Indenture, the Company may, at the
Company’s option, redeem the Notes, in whole but not in part, upon not less than thirty (30) nor more than sixty (60) days’ notice to the Trustee and the Holders, at a redemption price equal to 100% of the

  
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principal amount of the Notes then Outstanding, together with any accrued but unpaid interest to (but excluding) the date fixed for redemption, if (i) the Company determines that for any
reason the Notes are fully excluded from the Group’s “Tier 2 Capital” within the meaning and for purposes of (1) the capital adequacy requirements of the FSA or (2) any other regulation, directive or other binding rules,
standards or decisions adopted by the institutions of the European Union (a “Regulatory Event”); provided, however, that the circumstance that entitles the Company to exercise such right of redemption of the Notes was not (in
the Company’s opinion) reasonably foreseeable at the Issue Date. 
 (b) The notice provided to Holders in accordance with
this Section 2.05 (which notice shall be irrevocable) shall specify the date fixed for such redemption. 
 (c) Upon the
expiry of the notice period described in (a) above, the Company shall be bound to redeem the Notes accordingly. 
 SECTION
2.06 Limitations on Redemption. 
 (a) The Company may redeem the Notes pursuant to Sections 2.04
and 2.05 prior to the fifth (5th) anniversary of the
Issue Date only: 
 (i) with the prior approval of the FSA; 

(ii) if the circumstance that entitles the Company to exercise that right of redemption is the result of a change in the applicable tax
treatment or regulatory classification of the Notes as described in Section 2.04 and Section 2.05 above; and 
 (iii)
if at the time of the exercise of the right of redemption (and if and to the extent required at such time), the Company complies with the FSA’s main Pillar 1 rules applicable to the Company and other BIPRU firms (within the meaning of the
FSA’s General Prudential Sourcebook) and shall continue to do so after the redemption of the Notes. 

(b) In addition, any redemption of the Notes on or after the fifth (5th) anniversary of the Issue Date but prior to the Stated
Maturity, under the practice of the FSA prevailing as of the date of this First Supplemental Indenture (which practice the FSA may change), would be subject to the Company providing to the FSA, at least one month before the Company becomes committed
to the repayment, notice in writing (in the form required by the FSA) of the proposed repayment, detailing how, following such repayment, the Company shall (1) continue to meet its capital resources requirement and (2) have sufficient
overall financial resources, including capital and liquidity resources which are adequate both as to the amount and quality, to ensure that there is no significant risk that the Company’s liabilities cannot be met as they fall due. 

  
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 SECTION 2.07 Automatic Transfer upon Capital Adequacy Trigger Event. 

(a) Special Transfer Procedures if Notes are Held through DTC. Subject to Section 2.07(d) below, if a Capital Adequacy
Trigger Event has occurred as of any Quarterly Financial Period End Date or Extraordinary Calculation Date, as the case may be, the Company shall deliver an Automatic Transfer Notice to the Pre-Transfer Holders via DTC and to the Trustee:

 (i) in the case of a Capital Adequacy Trigger Event that has occurred as of any Quarterly Financial Period End Date, on or
within five (5) Business Days after the relevant Ordinary Reporting Date; and 
 (ii) in the case of a Capital Adequacy
Trigger Event that has occurred as of any Extraordinary Calculation Date, on or as soon as practicable after such Extraordinary Calculation Date. 
 The Company shall request that DTC post the Automatic Transfer Notice on its Reorganization Inquiry for Participants System (or such other system as DTC uses for providing notices to holders of
securities). 
 The Company and the Trustee acknowledge that, following the receipt of the Automatic Transfer Notice by DTC and
the commencement of the Suspension Period, all clearance and settlement of the Notes shall be suspended by DTC for the duration of the Suspension Period. On the Business Day immediately following the expiration of the Suspension Period, the
Automatic Transfer shall occur. The Company shall take all reasonable endeavors to facilitate the implementation by DTC of the Automatic Transfer. 
 For the avoidance of doubt, effective upon, and following, the occurrence of the Automatic Transfer, Pre-Transfer Holders shall not have any rights against the Company with respect to repayment of the
principal amount of the Notes that has not become due or the payment of interest on the Notes for any period from (and including) the Interest Payment Date falling immediately prior to the occurrence of such Automatic Transfer. 

By its acquisition of the Notes, each Pre-Transfer Holder shall be deemed to have (i) consented to the Automatic Transfer and
acknowledged that the Automatic Transfer of its Notes (including any beneficial interest therein) following a Capital Adequacy Trigger Event may occur without any action on such Pre-Transfer Holder’s part and (ii) authorized, directed and
requested DTC and any direct participant in DTC or other intermediary through which it holds such Notes to take any and all necessary action, if required, to effectuate the Automatic Transfer without any further action or direction on the part of
such Pre-Transfer Holder. Furthermore, each Pre-Transfer Holder acknowledges that it hereby consents to the Automatic Transfer of its Notes (including any beneficial interest therein) following the occurrence of a Capital Adequacy Trigger

  
 - 11 -

 
Event as described in this First Supplemental Indenture and the Notes and that it hereby authorizes, directs and requests DTC and any direct participant in DTC or other intermediary through
which it holds such Notes to take any and all actions necessary to effectuate the transfer of its Notes (and any beneficial interest therein) pursuant to the Automatic Transfer without any further action or direction on the part of such Pre-Transfer
Holder. 
 (b) Special Transfer Procedures if Notes are Held in Definitive Form. Subject to Section 2.07(d) below
and to the extent the Notes are held in definitive form pursuant to Section 3.05 of the Base Indenture, if a Capital Adequacy Trigger Event has occurred as of any Quarterly Financial Period End Date or Extraordinary Calculation Date, as the
case may be, the Company shall deliver an Automatic Transfer Notice (as amended to reflect that the Notes are no longer in global form or held through DTC) to the Trustee (and, if different, the Dated Subordinated Debt Security Registrar in respect
of the Notes) and to the Pre-Transfer Holders in accordance with the timetables described in Section 2.07(a) above. 
 On
the Business Day on which such notice is received by the Trustee or on the Business Day immediately following such receipt, the Trustee and any Dated Subordinated Debt Security Registrar, if applicable, shall cease to register any attempted transfer
of any Notes held in definitive form by a Pre-Transfer Holder. 
 On the sixth (6th) Business Day following receipt of the Automatic Transfer
Notice by the Trustee and any Dated Subordinated Debt Security Registrar, if applicable, the Automatic Transfer shall occur, any Notes held in definitive form by Pre-Transfer Holders shall be deemed to have been surrendered for transfer to the
Parent (or another entity within the Group), and the Company shall execute a new definitive Note. Upon delivery to the Trustee of such new definitive Note executed by the Company, a Company Order requesting the authentication thereof and an Opinion
of Counsel stating that the form and terms thereof have been established in conformity with the provisions of the Indenture and that the conditions precedent under the provisions of the Indenture to the authentication and delivery of the new
definitive Note and the issuance thereof to the Parent (or another entity within the Group) have been satisfied, such new definitive Note shall be authenticated and registered in the name of the Parent (or another entity within the Group).

 For the avoidance of doubt, effective upon, and following, the occurrence of the Automatic Transfer, Pre-Transfer Holders
shall not have any rights against the Company with respect to repayment of the principal amount of the Notes that has not become due or the payment of interest on the Notes for any period from (and including) the Interest Payment Date falling
immediately prior to the occurrence of such Automatic Transfer. 
 By its acquisition of the Notes, each Pre-Transfer Holder
shall be deemed to have (i) consented to the Automatic Transfer and acknowledged that the Automatic 

  
 - 12 -

 
Transfer of its Notes held in definitive form following a Capital Adequacy Trigger Event may occur without any action on such Pre-Transfer Holder’s part and (ii) authorized, directed
and requested the Trustee, the Dated Subordinated Debt Security Registrar, if applicable, and any intermediary through which it holds such Notes to take any and all necessary action, if required, to effectuate the Automatic Transfer without any
further action or direction on the part of such Pre-Transfer Holder. Furthermore, each Pre-Transfer Holder acknowledges that it hereby consents to the Automatic Transfer of its Notes held in definitive form following the occurrence of a Capital
Adequacy Trigger Event as described in this First Supplemental Indenture and the Notes and that it hereby authorizes, directs and requests the Trustee, the Dated Subordinated Debt Security Registrar, if applicable, and any intermediary through
which it holds such Notes to take any and all actions necessary to effectuate the transfer of its Notes held in definitive form pursuant to the Automatic Transfer without any further action or direction on the part of such Pre-Transfer Holder.

 (c) Notwithstanding anything to the contrary contained in this First Supplemental Indenture or the Notes, once the Company
has delivered an Automatic Transfer Notice following the occurrence of a Capital Adequacy Trigger Event, (i) the Pre-Transfer Holders shall have no rights whatsoever under the Indenture or the Notes to instruct the Trustee to take any action
whatsoever and (ii) as of the date of the Automatic Transfer Notice, except for any indemnity and/or security provided by any Pre-Transfer Holder in such direction or related to such direction, any direction previously given to the Trustee by
any Pre-Transfer Holders shall cease automatically and shall be null and void and of no further effect; except in each case of (i) and (ii) of this Section 2.07(c), with respect to any rights of Pre-Transfer Holders with respect to
any payments under the Notes that were due and payable prior to the date of the Automatic Transfer Notice or unless the Trustee is instructed by the Company to act otherwise. 
 (d) For purposes of this Section 2.07, in the event that (i) a court of competent jurisdiction in England (or such other jurisdiction in which the Company is organized) issues an order, or an
effective shareholders’ resolution is validly adopted, for the winding-up of the Company or (ii) following the appointment of an administrator of the Company, the administrator gives notice that it intends to declare and distribute a
dividend, and in each such case a Capital Adequacy Trigger Event has not occurred as of the date of such order or the date of such resolution or notice, no subsequent Capital Adequacy Trigger Event shall occur or be deemed to occur. In the event
that (i) a court of competent jurisdiction in England (or such other jurisdiction in which the Company is organized) issues an order, or an effective shareholders’ resolution is validly adopted, for the winding up of the Company or
(ii) following the appointment of an administrator of the Company, the administrator gives notice that it intends to declare and distribute a dividend, in each such case after the occurrence of a Capital Adequacy Trigger Event but prior to the
occurrence of the Automatic Transfer, such Capital Adequacy Trigger Event shall be deemed not to have occurred, and the Company shall enter into appropriate arrangements with DTC (or make alternative arrangements) to preserve the rights of the

  
 - 13 -

 
Pre-Transfer Holders under the Notes in relation to such winding-up or dividend, which arrangements may include the transfer of the Notes back to the Pre-Transfer Holders to the extent
practicable (it being understood that in the event any interests in the Notes shall have been transferred to the Parent (or another entity within the Group) in the circumstances contemplated in this Section 2.07(d), the Parent (or such other
entity) shall be deemed to hold any such interests on behalf of the Pre-Transfer Holders), and the Pre-Transfer Holders may direct the Trustee in accordance with the requirements of Section 5.12 of the Base Indenture. 

(e) On or (if reasonably practicable) prior to delivering the Automatic Transfer Notice, the Company shall deliver to the Trustee a
certificate signed by two Authorized Officers, in the form attached hereto as Exhibit C, specifying that a Capital Adequacy Trigger Event has occurred (the “Capital Adequacy Trigger Event Officers’ Certificate”). The Trustee is
entitled to conclusively rely on and accept such Capital Adequacy Trigger Event Officers’ Certificate without any duty whatsoever of further inquiry as sufficient and conclusive evidence of the occurrence of a Capital Adequacy Trigger Event,
and such Capital Adequacy Trigger Event Officers’ Certificate shall be conclusive and binding on the Trustee and the Pre-Transfer Holders. 
 (f) For the avoidance of doubt, after the occurrence of the Automatic Transfer, with the exception of the transfers contemplated in Section 2.07(d) above, no further transfers of the Notes (including
beneficial interests therein) shall be permitted other than a transfer of all interests in the Notes to the Company or another entity within the Group. The Company intends to secure the termination of any listing of the Notes on any stock exchange
if the Automatic Transfer occurs. 
 (g) All authority conferred or agreed to be conferred by each Pre-Transfer Holder pursuant
to this Section 2.07, including the consents given by such Pre-Transfer Holder, shall be binding upon the successors, assigns, heirs, executors, administrators, trustees in bankruptcy and legal representatives of such Pre-Transfer Holder.

 (h) The Trustee shall not be liable with respect to (i) the calculation or accuracy of the CET1 Ratio in connection with
the occurrence of a Capital Adequacy Trigger Event and the timing of such Capital Adequacy Trigger Event, (ii) the failure of the Company to post or deliver the underlying CET1 Ratio calculations of a Capital Adequacy Trigger Event to DTC or
the Pre-Transfer Holders, (iii) any aspect of the Company’s decision to deliver an Automatic Transfer Notice or the related Automatic Transfer or (iv) the adequacy of the disclosure of these provisions in the Prospectus Supplement or
for the direct or indirect consequences thereof. 
 (i) By its acquisition of the Notes, each Pre-Transfer Holder
(i) agrees to all of the terms and conditions of the Notes, including, without limitation, those related to the occurrence of a Capital Adequacy Trigger Event and any related Automatic 

  
 - 14 -

 
Transfer, (ii) agrees that effective upon, and following, the occurrence of the Automatic Transfer, other than with respect to payments that have become due and payable prior to such
Automatic Transfer, no amount shall be due and payable to the Pre-Transfer Holders under the Notes, and the Pre-Transfer Holders shall not have the right to give a direction to the Trustee with respect to the Capital Adequacy Trigger Event and any
related Automatic Transfer and (iii) waives, to the extent permitted by the Trust Indenture Act, any claim against the Trustee arising out of its acceptance of its trusteeship for the Notes, including, without limitation, claims related to or
arising out of or in connection with a Capital Adequacy Trigger Event and/or the Automatic Transfer. 
 ARTICLE III

 DEFAULTS AND REMEDIES 
 With respect to the Notes only, Section 5.01 of the Base Indenture shall be amended and restated in its entirety as follows in Section 3.01 hereof and Section 5.03 of the Base Indenture
shall be amended and restated in its entirety as follows in Section 3.02 hereof, and references in the Base Indenture to such Sections shall be to such Sections as amended by this First Supplemental Indenture. 

SECTION 3.01 Events of Default. An “Event of Default” with respect to the Notes shall result if (i) a court of
competent jurisdiction in England (or such other jurisdiction in which the Company may be organized) makes an order for the winding up of the Company which is not successfully appealed within thirty (30) days of the making of such order, or
(ii) the shareholders of the Company adopt an effective resolution for the winding up of the Company (other than, in the case of either (i) or (ii) above, under or in connection with a scheme of reconstruction, merger or amalgamation
not involving a bankruptcy or insolvency). 
 SECTION 3.02 Defaults, Collection of Indebtedness and Suits for Enforcement by
Trustee. 
 (a) A “Default” with respect to the Notes shall result if the Company does not pay any installment of
interest upon, or any part of the principal of any Notes on the date on which the payment is due and payable, whether upon redemption or otherwise, and the failure continues for fourteen (14) days. 

(b) If an Event of Default or Default occurs and is continuing, and such Event of Default or Default has neither been cured nor waived
within a period of fourteen (14) days following the provision of notice of such Event of Default or Default to the Company from the Trustee, the Trustee may at its discretion and without further notice to the Company institute proceedings in
England (or such other jurisdiction in which the Company may be organized) (but not elsewhere) for the winding up of the Company. 

  
 - 15 -

 (c) Failure to make any payment in respect of the Notes shall not be a Default if the
payment is withheld or refused either: 
 (i) in order to comply with any fiscal or other law or regulation or with the order
of any court of competent jurisdiction, in each case applicable to such payment; or 
 (ii) in case of doubt as to the validity
or applicability of any such law, regulation or order, in accordance with advice given as to such validity or applicability at any time before the expiry of the fourteen-day (14-day) period by independent legal advisers acceptable to the Trustee. In
this case, however, the Trustee may, by notice to the Company, require the Company to take action, including proceedings for a court declaration, to resolve the doubt, if counsel advises it that the action is appropriate and reasonable. In this
situation, the Company shall take the action promptly and be bound by any final resolution of the doubt. If the action results in a determination that the Company can make the relevant payment without violating any law, regulation or order, then the
payment shall become due and payable on the expiration of the fourteen-day (14-day) period after the Trustee gives the Company written notice informing the Company of the determination. 

(d) Subject to applicable law and unless the Notes provide otherwise, claims in respect of any Notes may not be set off, or be the
subject of a counterclaim, by the Holder against or in respect of any of its obligations to the Company, and every Holder waives, and shall be treated for all purposes as if it had waived, any right that it might otherwise have to set-off, or to
raise by way of counterclaim any of its claims in respect of any Notes, against or in respect of any of its obligations to the Company. No Holder shall be entitled to proceed directly against the Company unless the Trustee has become bound to
proceed but fails to do so within a reasonable period and the failure is continuing. 
 (e) Other than the limited remedies
specified in Section 3.02(b) above, on the occurrence of a Default or an Event of Default which is continuing, no remedy against the Company shall be available to the Trustee or the Holders of the Notes whether for the recovery of amounts owing
in respect of such Notes or under the Indenture in relation thereto or in respect of any breach by the Company of any of its other obligations under or in respect of the Notes or under the Indenture in relation thereto, save that the Trustee shall
have such powers as are required to be authorized to it under the Trust Indenture Act in respect of the rights of the Holders of the Notes in response to such Event of Default or Default under the provisions of the Indenture, and provided that any
payments are subject to the subordination provisions set forth in Section 4.01 of this First Supplemental Indenture. 
 (f)
No recourse for the payment of the principal of, or interest on, any Note, or for any claim based thereon or otherwise in respect thereof and no recourse 

  
 - 16 -

 
under or upon any obligation, covenant or agreement of the Company in the Indenture, or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any
incorporator, stockholder, officer or director, past, present or future, of the Company or of any successor corporation of the Company, either directly or through the Company or any successor corporation of the Company, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, it being expressly understood that to the extent lawful all such liability is hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this First Supplemental Indenture and the issue of the Notes. 
 (g) (i) In the event that a
Default has occurred and the Trustee has instituted proceedings in England (or such other jurisdiction in which the Company may be organized) (but not elsewhere) for the winding up of the Company, then if a Suspension Period shall commence prior to
the making of an order by a court of competent jurisdiction for the winding up of the Company, the Trustee shall cease such proceedings and, notwithstanding Section 5.12 of the Base Indenture, any direction by Pre-Transfer Holders hereunder to
the Trustee in respect of such proceedings shall cease automatically and shall be null and void and of no further effect, except with respect to any indemnity and/or security given to the Trustee by the Pre-Transfer Holders in any such direction or
related to such direction. To the extent set forth in Section 6.01 of the Base Indenture, the Trustee shall not be liable to any Pre-Transfer Holder in respect of the cessation of such proceedings or the termination of the effectiveness of any
such direction, and any indemnity and/or security given to the Trustee by the Pre-Transfer Holders in any such direction or related to such direction shall continue to be in full force and effect and shall be unaffected by the cessation of such
proceedings or the termination of the effectiveness of any such direction in accordance with this paragraph. 
 (ii)
Notwithstanding Section 5.12 of the Base Indenture, in the event that a Default has occurred and the Trustee receives a direction from Pre-Transfer Holders to institute proceedings in England (or such other jurisdiction in which the Company may
be organized) (but not elsewhere) for the winding up of the Company, then if a Suspension Period shall commence before the Trustee shall have instituted such proceedings, the Trustee is hereby directed not to, and shall not be required to, initiate
such proceedings and, to the extent set forth in Section 6.01 of the Base Indenture, shall not be liable to any Pre-Transfer Holder in respect of not having commenced such proceedings. 

(iii) For the avoidance of doubt, the rights of Pre-Transfer Holders in respect of any payment that has become due and payable prior to
the Automatic Transfer shall not be affected by the provisions of this Section 3.02(g) and furthermore, notwithstanding Section 5.12 of the Base Indenture, effective upon, and following, the commencement of any Suspension Period, the
Trustee shall not be required to accept directions from Pre-Transfer Holders other than in respect of action limited solely to pursuing any such payment. 

  
 - 17 -

 (h) As provided in Section 2.07(d) hereof, and for the avoidance of doubt, if, pursuant
to such Section 2.07(d), a Capital Adequacy Trigger Event shall be deemed not to have occurred, the rights of Pre-Transfer Holders under this Section 3.02 shall be as if no such Capital Adequacy Trigger Event had occurred. 

ARTICLE IV 

SUBORDINATION 
 SECTION 4.01 Notes Subordinate to Claims of Senior Creditors. 
 With respect to the Notes
only, this Section 4.01 hereby amends Sections 12.01(a), (b) and (c) of the Base Indenture in their entirety, and references in the Base Indenture to Article Twelve and Section 12.01 thereof shall be to such Article and Section
as amended by this Section 4.01. 
 (a) The Company covenants and agrees, and each Holder of the Notes, by his acceptance
thereof, likewise covenants and agrees, that to the extent and in the manner set forth in Article Twelve of the Base Indenture and this Section 4.01, the Notes and the payment of the principal of and interest or other amounts (including any
damages or other payments awarded for breach of any obligations thereunder), if any, on each and all of the Notes are hereby expressly made subordinate and constitute subordinated obligations of the Company insofar as that on a winding up or
administration of the Company the rights of each Holder of the Notes are to be postponed to the claims of the Senior Creditors. Accordingly, no amount shall be payable to the Holders of the Notes until the claims of the Senior Creditors have been
satisfied or provided for in full. Any amounts in respect of the Notes (including any damages or other payments awarded for breach of any obligations thereunder) paid to the Trustee in the winding up of the Company shall be held by the Trustee
subject to paragraph (b) below. 
 (b) In the event of the winding up or administration of the Company, the claims of the
Trustee (on behalf of the Holders of the Notes but not the rights and claims of the Trustee in its personal capacity under the Indenture) and the Holders of the Notes against the Company in respect of such Notes (including any damages or other
payments awarded for breach of any obligations thereunder) shall (i) be subordinated to the claims of all Senior Creditors (the “Dated Debt Senior Claims”); (ii) rank at least pari passu with the claims of Holders of all
other dated subordinated obligations of the Company and other securities of the Company which in each case by law rank, or by their terms are expressed to rank, pari passu with the Notes; and (iii) rank senior to the Company’s
ordinary shares, preference shares and any junior subordinated obligations or other securities of the Company which by law rank, or by their terms are expressed to rank, junior to the Notes. Any amounts in respect of the Notes paid to the Holders of
such Notes or to the Trustee (including any damages or other payments awarded for breach of any obligations thereunder) shall be held by such Holders or the Trustee upon 

  
 - 18 -

 
trust to be applied in the following order: (i) to the amounts due to the Trustee in or about the execution of the trusts of the Indenture; (ii) in payment of all Dated Debt Senior
Claims outstanding at the commencement of, or arising solely by virtue of, the winding up of the Company to the extent that such claims shall be admitted in the winding up and shall not be satisfied out of the other resources of the Company; and
(iii) in payment of the Notes; provided that the obligation pursuant to clause (ii) may be performed by the Trustee paying to the liquidator of the Company (the “Liquidator”) the amount to be so applied on terms that the
Liquidator shall distribute and pay the same to the Senior Creditors, in which event the receipt by the Liquidator of such amount shall be a good discharge to the Trustee and the Trustee shall not be bound to supervise or be in any way responsible
for such distribution or payment. The Trustee shall be entitled and is hereby authorized to call for a certificate from the Liquidator as to the amount of the Dated Debt Senior Claims and the amounts of the Dated Debt Senior Claims which shall not
have been satisfied in full out of the other resources of the Company (if any) and the persons entitled thereto and their respective entitlements. Any such certificate shall, absent manifest error, be conclusive and binding on the Trustee, the
Holders of the Notes and all depositors and other creditors of the Company, all holders or beneficiaries (or the trustee(s) for such holders or beneficiaries) of securities of the Company ranking pari passu with the Notes and all Senior
Creditors. Nothing in this Section 4.01 shall affect or prejudice the payment of the costs, charges, expenses, liabilities or remuneration of the Trustee or the rights and remedies of the Trustee in respect thereof. 

(c) [Intentionally omitted.] 
 ARTICLE V 
 ADDITIONAL AMOUNTS 

SECTION 5.01 Additional Amounts. 
 With respect to the Notes only, this Section 5.01 hereby amends Section 10.04 of the Base Indenture in its entirety, and references in the Base Indenture to Section 10.04 thereof shall be
to such Section as amended by this Section 5.01. 
 (a) Any amounts to be paid by the Company on the Notes shall be made
without deduction or withholding for, or on account of, any and all present or future income, stamp and other taxes, levies, imposts, duties, charges, fees, deductions or withholdings (“Taxes”) now or hereafter imposed, levied, collected,
withheld or assessed by, or on behalf of, the United Kingdom or any political subdivision or authority thereof or therein having the power to tax (each a “Taxing Jurisdiction”), unless such deduction or withholding is required by law. If
any such Taxes shall at any time be required by a Taxing Jurisdiction to be deducted or withheld, the Company shall pay such additional amounts of, or in respect of, the principal of, and interest on, the Notes (“Additional Amounts”) as
may be necessary in order that the net amounts paid to the Holders of the 

  
 - 19 -

 
Notes, after such deduction or withholding, shall equal the respective amounts of principal and interest that would have been payable in respect of such Notes had no such deduction or withholding
been required, provided that the foregoing shall not apply to any such Taxes that would not have been payable or due but for the fact that (i) the Holder or the beneficial owner of the Note is a domiciliary, national or resident of, or
engages in business or maintains a permanent establishment or is physically present in, the Taxing Jurisdiction requiring such deduction or withholding of Taxes, or otherwise has some connection with such Taxing Jurisdiction other than the holding
or ownership of the relevant Note, or the collection of any payment of, or in respect of, the principal of, or any interest on, any Notes, (ii) except in the case of a winding up of the Company in England the relevant Note is presented for
payment in the United Kingdom, (iii) the relevant Note is presented for payment more than thirty (30) days after the date payment became due or was provided for, whichever is later, except to the extent that the Holder would have been
entitled to such Additional Amounts on presenting the same for payment at the close of such thirty-day (30-day) period, (iv) the Holder or the beneficial owner of the relevant Note or the beneficial owner of any payment of (or in respect of)
principal of, or any interest on such Note failed to make any necessary claim or to comply with any certification, identification or other requirements concerning the nationality, residence, identity or connection with the Taxing Jurisdiction of
such Holder or beneficial owner, if such claim or compliance is required by statute, treaty, regulation or administrative practice of the Taxing Jurisdiction as a condition to relief or exemption from such Taxes, (v) such Taxes are imposed on a
payment to an individual and are required to be made pursuant to the European Union Directive on the taxation of savings income, adopted on June 3, 2003, or any law implementing or complying with, or introduced in order to conform to, such
Directive, (vi) the relevant Note is presented for payment by, or on behalf of, a Holder who would have been able to avoid such Taxes by presenting the relevant Note to another Paying Agent in a member state of the European Union or elsewhere
or (vii) if such Taxes would not have been so imposed, or would have been excluded pursuant to clauses (i) through (vii) above inclusive, if the beneficial owner of, or person ultimately entitled to obtain an interest in, such Notes
had been the Holder of such Notes. Whenever in the Indenture there is mentioned, in any context, the payment of the principal of, or any interest on, or in respect of any Note, such mention shall be deemed to include mention of the payment of
Additional Amounts provided for in this Section to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section and as if express mention of the payment of
Additional Amounts (if applicable) were made in any provisions hereof where such express mention is not made. 
 (b) Any amounts
to be paid by the Company or the Paying Agent on the Notes shall be paid net of any deduction or withholding imposed or required pursuant to Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations
thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of
such 

  
 - 20 -

 
Sections of the Code (a “FATCA Withholding Tax”), and neither the Company nor the Paying Agent shall be required to pay Additional Amounts on account of any FATCA Withholding Tax.

 ARTICLE VI 
 MISCELLANEOUS PROVISIONS 
 SECTION 6.01 Effectiveness. This First
Supplemental Indenture shall become effective upon its execution and delivery. 
 SECTION 6.02 Original Issue. The Notes
may, upon execution of this First Supplemental Indenture, be executed by the Company and delivered by the Company to the Trustee for authentication, and the Trustee shall, upon delivery of a Company Order, authenticate and deliver such Notes as in
such Company Order provided. 
 SECTION 6.03 Ratification and Integral Part. The Base Indenture as supplemented by this
First Supplemental Indenture, is in all respects ratified and confirmed, including without limitation all the rights, immunities and indemnities of the Trustee, and this First Supplemental Indenture shall be deemed an integral part of the Base
Indenture in the manner and to the extent herein and therein provided. 
 SECTION 6.04 Priority. This First Supplemental
Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided. The provisions of this First Supplemental Indenture shall, with respect to the Notes and subject to the terms hereof, supersede the
provisions of the Base Indenture to the extent the Base Indenture is inconsistent herewith. 
 SECTION 6.05 Successors and
Assigns. All covenants and agreements in the Base Indenture, as supplemented and amended by this First Supplemental Indenture, by the Company shall bind its successors and assigns, whether so expressed or not. 

SECTION 6.06 Counterparts. This First Supplemental Indenture may be executed in any number of counterparts, each of which so
executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 SECTION 6.07 Governing Law. This First Supplemental Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York, except for the subordination
provisions in Section 4.01, which are governed by, and construed in accordance with, the laws of England and Wales. 

  
 - 21 -

 IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be
duly executed, all as of the day and year first above written. 
  

			
	BARCLAYS BANK PLC
		
	 By:
	 	/s/ Steven Penketh
		 	Name: Steven Penketh
		 	 Title: Managing Director, Treasury
 Execution Services

  

			
	 THE BANK OF NEW YORK
MELLON, 

		
	 By:
	 	 /s/ Natalie Berkecz

		 	Name: Natalie Berkecz
		 	Title: Vice President
		 	

 Signature Page to the First Supplemental Indenture 

 Exhibit A 
 Form of Global Note 
 THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 BY PURCHASING THIS SECURITY, IN THE ABSENCE OF A CHANGE IN LAW OR AN ADMINISTRATIVE OR JUDICIAL RULING TO THE CONTRARY, THE HOLDER AGREES TO CHARACTERIZE THIS SECURITY FOR ALL U.S. FEDERAL INCOME TAX
PURPOSES AS PROVIDED ON THE FACE OF THIS SECURITY. 
 This Security is one of a duly authorized issue of securities of the Company (as defined
below) (herein called the “Securities” and each, a “Security”) issued and to be issued in one or more series under the Dated Subordinated Debt Securities Indenture, dated as of October 12, 2010 (the “Base
Indenture”), as supplemented by the First Supplemental Indenture, dated as of November 21, 2012 (the “First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”). 

The rights of the Holder of this Security are, to the extent and in the manner set forth in Section 12.01 of the Base Indenture, as amended by
Section 4.01 of the First Supplemental Indenture, subordinated to the claims of other creditors of the Company, and this Security is issued subject to the provisions of that Section 12.01 and that Section 4.01, and the Holder of this
Security, by accepting the same, agrees to, and shall be bound by, such provisions. The provisions of Section 12.01 of the Base Indenture, Section 4.01 of the First Supplemental Indenture and the terms of this paragraph are governed by,
and shall be construed in accordance with, the laws of England and Wales. 
 The rights of the Holder of this Security are subject to
Section 2.07 of the First Supplemental Indenture. Effective upon, and following, the occurrence of the Automatic Transfer, the beneficial owners of this Security (and any interest therein) prior to the occurrence of such Automatic Transfer (the
“Pre-Transfer Holders”) shall not have any rights against the Company with respect to repayment of the principal amount of this Security that has not become due or the payment of interest on this Security for any period from (and
including) the Interest Payment Date falling immediately prior to the occurrence of such Automatic Transfer. 
 BARCLAYS BANK PLC

 7.625% CONTINGENT CAPITAL NOTES DUE NOVEMBER 2022 

 

			
	No. [            ]	  	    $500,000,000                
		
		  	    CUSIP NO. 06740L8C2
		  	ISIN NO. US06740L8C27

 BARCLAYS BANK PLC, a company duly incorporated and existing under the laws of England and Wales (herein
called the “Company”, which term includes any successor 

  
 A-1

 Exhibit A 

 
 
Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of $500,000,000 (five hundred
million Dollars) on November 21, 2022, except as otherwise provided herein, and to pay interest thereon, in accordance with the terms hereof. Interest shall accrue on the Security from (and including) November 21, 2012 or from (and
including) the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, as the case may be, to (but excluding) the following Interest Payment Date and shall be payable in two equal semi-annual
installments in arrear on May 21 and November 21 of each year (each an “Interest Payment Date”), commencing on May 21, 2013, except as otherwise provided herein, at the rate of 7.625% per annum, until the
principal hereof is paid or made available for payment. 
 If any Interest Payment Date is not a Business Day, the Interest
Payment Date shall be postponed to the next Business Day, and no further interest or other payment shall be owed or made in respect of such delay. 
 The amount of interest which shall accrue hereon shall be computed and payable on the basis of two equal semi-annual installments in arrear and, for any other period, computed on the basis of a year of
360 days consisting of twelve (12) months of thirty (30) days each and, in the case of an incomplete month, the actual number of days elapsed. 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest which shall be the fifteenth (15th) calendar day preceding each Interest Payment Date (whether or not a Business Day). 

Any interest on this Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date
(“Defaulted Interest”) shall cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as
provided in Clause (a) or (b) below: 
 (a) The Company may elect to make payment of any Defaulted
Interest to the Persons in whose names the Securities (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed
in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee
an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited
to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not more than fifteen
(15) days and not less than ten (10) days prior to the date of the proposed payment and not less than ten (10) days after the receipt by the Trustee of the notice of the proposed payment (“Special Record Date”). The
Trustee shall promptly 

  
 A-2

 Exhibit A 

 
 
notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record
Date therefor to be given to each Holder of Securities in the manner set forth in Section 1.06 of the Base Indenture, not less than ten (10) days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities (or their respective Predecessor Securities) are registered at the close of business on such Special
Record Date and shall no longer be payable pursuant to the following Clause (b). 
 (b) The Company may make
payment of any Defaulted Interest on the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if,
after notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 
 The provisions of Section 3.07(a) of the Base Indenture relating to Deferred Payments do not form part of the terms and conditions of this Security. 

Payment of principal of and interest on this Security shall be made in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts and such payments shall be made through one or more Paying Agents appointed under the Base Indenture. Initially, the Paying Agent and the Dated Subordinated Debt Security
Registrar for the Securities shall be The Bank of New York Mellon, 101 Barclay Street, New York, New York 10286. The Company may change the Paying Agent or Dated Subordinated Debt Security Registrar without prior notice to the Holders of the
Securities, and in such an event the Company may act as Paying Agent or Dated Subordinated Debt Security Registrar. Payments of principal of and interest on the Securities shall be made by wire transfer of immediately available funds;
provided, however, that in the case of payments of principal, this Security is first surrendered to the Paying Agent. 
 This Security shall be governed by and construed in accordance with the laws of the State of New York, except that the subordination provisions referred to herein and in Section 12.01 of the Base
Indenture, as amended by Section 4.01 of the First Supplemental Indenture, shall be governed by, and construed in accordance with, the laws of England and Wales. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture,
as defined herein. 

  
 A-3

 Exhibit A 

 
 THIS SECURITY IS NOT A DEPOSIT AND IS NOT INSURED BY THE
UNITED STATES FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY OF THE UNITED STATES OR THE UNITED KINGDOM. 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof, directly or through
an Authenticating Agent, by manual signature of an authorized signatory, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

By purchasing this Security, the Holder of this Security agrees (in the absence of a statutory, regulatory, administrative or judicial
ruling to the contrary) to treat this Security as equity of the Company for U.S. federal income tax purposes. 

  
 A-4

 Exhibit A 

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

							
	Date: November 21, 2012	 		 	BARCLAYS BANK PLC
				
		 		 	By:	 	 
		 		 		 	Name: Steven Penketh
		 		 		 	 Title: Managing Director, Treasury Execution
 Services

  

							
		 		 	By:	 	 
		 		 		 	Name: Keith Harding
		 		 		 	 Title: Associate Director, Treasury Execution
 Services

 Trustee’s Certificate of Authentication 

This is one of the Securities of the series designated herein referred to in the Indenture. 

 

							
	Date: November 21, 2012	 		 	 THE BANK OF NEW YORK MELLON,
                 As Trustee

				
		 		 	By:	 	 
		 		 		 	Authorized Signatory

 Signature Page to Global Note 

  
 A-5

 Exhibit A 

 
 (Reverse of Security) 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities” and each, a
“Security”) issued and to be issued in one or more series under the Dated Subordinated Debt Securities Indenture, dated as of October 12, 2010 (herein called the “Base Indenture”), between the Company and The
Bank of New York Mellon, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Base Indenture), as supplemented and amended by the First Supplemental Indenture, dated as of November 21,
2012 (the “First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Company, the Trustee, the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. Insofar as the provisions of the Indenture may conflict with the
provisions set forth in this Security, the former shall control for purposes of this Security. 
 This Security is one of the
series designated on the face hereof, limited to a principal amount of $3,000,000,000, which amount may be increased at the option of the Company if in the future it determines that it may wish to sell additional Securities of this series.
References herein to “this series” mean the series designated on the face hereof. 
 The Securities of this
series will constitute our direct, unsecured and subordinated obligations, ranking equally without any preference among themselves and ranking junior in right of payment to the payment of any of our existing and future senior indebtedness.

 Any amounts to be paid by the Company on the Securities shall be made without deduction or withholding for, or on account of,
any and all present or future income, stamp and other taxes, levies, imposts, duties, charges, fees, deductions or withholdings (“Taxes”) now or hereafter imposed, levied, collected, withheld or assessed by, or on behalf of, the
United Kingdom or any political subdivision or authority thereof or therein having the power to tax (each a “Taxing Jurisdiction”), unless such deduction or withholding is required by law. If any such Taxes shall at any time be
required by a Taxing Jurisdiction to be deducted or withheld, the Company shall, subject to the exceptions and limitations set forth in Section 5.01 of the First Supplemental Indenture, pay such additional amounts of, or in respect of, the
principal of, and interest on, the Securities (“Additional Amounts”) as may be necessary in order that the net amounts paid to the Holders of the Securities, after such deduction or withholding, shall equal the respective amounts of
principal and interest that would have been payable in respect of such Securities had no such deduction or withholding been required. 
 Any amounts to be paid by the Company or the Paying Agent on the Securities shall be paid net of any deduction or withholding imposed or required pursuant

  
 A-6

 Exhibit A 

 
 
to Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), any current or future regulations or official interpretations thereof, any
agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections
of the Code (a “FATCA Withholding Tax”), and neither the Company nor the Paying Agent shall be required to pay Additional Amounts on account of any FATCA Withholding Tax. 

Subject to the limitations specified below, the Company may, at the Company’s option, redeem the Securities, in whole but not in
part, upon not less than thirty (30) days’ nor more than sixty (60) days’ notice to the Trustee and the Holders, at a redemption price equal to 100% of the principal amount of the Securities then Outstanding, together with any
accrued but unpaid interest to (but excluding) the date fixed for redemption, if (i) the Company determines that for any reason the Securities are fully excluded from the Group’s “Tier 2 Capital” within the meaning and for
purposes of (1) the capital adequacy requirements of the FSA or (2) any other regulation, directive or other binding rules, standards or decisions adopted by the institutions of the European Union (a “Regulatory Event”);
provided, however, that the circumstance that entitles the Company to exercise such right of redemption of the Securities was not (in the Company’s opinion) reasonably foreseeable on November 21, 2012. The notice provided to
Holders in accordance with this paragraph (which notice shall be irrevocable) shall specify the date fixed for such redemption. Upon the expiry of the notice period described above, the Company shall be bound to redeem the Securities accordingly.

 Subject to the limitations specified below, the Company may, at the Company’s option, redeem the Securities, in whole
but not in part, upon not less than thirty (30) days’ nor more than sixty (60) days’ notice to the Trustee and the Holders, at a redemption price equal to 100% of the principal amount of the Securities then Outstanding, together
with any accrued but unpaid interest to (but excluding) the date fixed for redemption, if the Company determines that as a result of any change in, or amendment to, the laws or regulations of a Taxing Jurisdiction, including any treaty to which the
relevant Taxing Jurisdiction is a party, or a change in an official application or interpretation of those laws or regulations, including a decision of any court or tribunal, which becomes effective on or after November 21, 2012 (and, in the
case of a successor entity, which becomes effective on or after the date of that entity’s assumption of the Company’s obligations): (a) the Company would be required to pay Additional Amounts to Holders of the Securities, (b) the
Company would not be entitled to claim a deduction in respect of any payments in computing the Company’s taxation liabilities or the amount of the deduction would be materially reduced or (c) the Company would not, as a result of the
Securities being in issue, be able to have losses or deductions set against the profits or gains, or profits or gains offset by the losses or deductions, of companies with which the Company is or would otherwise be so grouped for applicable United
Kingdom tax purposes (whether under the group relief system current as at November 21, 2012, or any 

  
 A-7

 Exhibit A 

 
 
similar system or systems having like effect as may from time to time exist) (each of (a), (b) and (c) above, a “Tax Event”); provided, however, that the
Securities may only be redeemed pursuant to this paragraph if (i) the circumstance that entitles the Company to exercise such right of redemption of the Securities was not in the Company’s opinion reasonably foreseeable on
November 21, 2012 and (ii) in the case of each Tax Event, such obligation cannot be avoided by the Company taking reasonable measures available to the Company. The notice provided to Holders in accordance with this paragraph (which notice
shall be irrevocable) shall specify the date fixed for such redemption. Upon the expiry of the notice period described above, the Company shall be bound to redeem the Securities accordingly. Any successor entity that assumes the obligations of the
Company pursuant to Section 8.03 of the Base Indenture shall also be entitled to redeem the Securities in accordance with this paragraph with respect to any change or amendment to, or change in the application or interpretation of the laws or
regulations (including any treaty) of the successor entity’s jurisdiction of incorporation, which becomes effective on or after the date of that entity’s assumption of the Company’s obligations. In any case where the Company shall
determine that as a result of a Tax Event it is entitled to redeem the Securities, the Company shall be required to deliver to the Trustee prior to the delivery of any notice of redemption an opinion of independent counsel of recognized standing,
chosen by the Company, in a form satisfactory to the Trustee confirming that the Company is entitled to exercise its right of redemption as a result of such Tax Event. 
 The Company may redeem the Securities as a result of a Regulatory Event or a Tax Event prior to November 21, 2017 only (1) with the prior approval of the FSA; (2) if the circumstance that
entitles the Company to exercise that right of redemption is the result of a change in the applicable tax treatment or regulatory classification of the Securities, as described above; and (3) if at the time of the exercise of the right of
redemption (and if and to the extent required at such time), the Company complies with the FSA’s main Pillar 1 rules applicable to the Company and other BIPRU firms (within the meaning of the FSA’s General Prudential Sourcebook) and
shall continue to do so after the redemption of the Securities. 
 In addition, any redemption of the Securities on or after
November 21, 2017 but prior to November 21, 2022, under the practice of the FSA prevailing as of the date of the First Supplemental Indenture (which practice the FSA may change), would be subject to the Company providing to the FSA, at
least one month before the Company becomes committed to the repayment, notice in writing (in the form required by the FSA) of the proposed repayment, detailing how, following such repayment, the Company shall (1) continue to meet its capital
resources requirement and (2) have sufficient overall financial resources, including capital and liquidity resources which are adequate both as to the amount and quality, to ensure that there is no significant risk that the Company’s
liabilities cannot be met as they fall due. 

  
 A-8

 Exhibit A 

 
 In any case where Securities are held through DTC, if a
Capital Adequacy Trigger Event has occurred as of any Quarterly Financial Period End Date or Extraordinary Calculation Date, as the case may be, the Company shall deliver an Automatic Transfer Notice to the Pre-Transfer Holders via DTC and to the
Trustee: (i) in the case of a Capital Adequacy Trigger Event that has occurred as of any Quarterly Financial Period End Date, on or within five (5) Business Days after the relevant Ordinary Reporting Date; and (ii) in the case of a
Capital Adequacy Trigger Event that has occurred as of any Extraordinary Calculation Date, on or as soon as practicable after such Extraordinary Calculation Date. 
 The Company shall request that DTC post the Automatic Transfer Notice on its Reorganization Inquiry for Participants System (or such other system as DTC uses for providing notices to holders of
securities). 
 The Company and the Trustee acknowledge that, following the receipt of the Automatic Transfer Notice by DTC and
the commencement of the Suspension Period, all clearance and settlement of the Securities shall be suspended by DTC for the duration of the Suspension Period. On the Business Day immediately following the expiration of the Suspension Period, the
Automatic Transfer shall occur. The Company shall take all reasonable endeavors to facilitate the implementation by DTC of the Automatic Transfer. 
 Effective upon, and following, the occurrence of the Automatic Transfer, Pre-Transfer Holders shall not have any rights against the Company with respect to repayment of the principal amount of the
Securities that has not become due or the payment of interest on the Securities for any period from (and including) the Interest Payment Date falling immediately prior to the occurrence of such Automatic Transfer. 

By its acquisition of the Securities, each Pre-Transfer Holder shall be deemed to have (i) consented to the Automatic Transfer and
acknowledged that the Automatic Transfer of its Securities (including any beneficial interest therein) following a Capital Adequacy Trigger Event may occur without any action on such Pre-Transfer Holder’s part and (ii) authorized, directed
and requested DTC and any direct participant in DTC or other intermediary through which it holds such Securities to take any and all necessary action, if required, to effectuate the Automatic Transfer without any further action or direction on the
part of such Pre-Transfer Holder. Furthermore, each Pre-Transfer Holder acknowledges that it hereby consents to the Automatic Transfer of its Securities (including any beneficial interest therein) following the occurrence of a Capital Adequacy
Trigger Event as described in the First Supplemental Indenture and the Securities and that it hereby authorizes, directs and requests DTC and any direct participant in DTC or other intermediary through which it holds such Securities to take any
and all actions necessary to effectuate the transfer of its Securities (and any beneficial interest therein) pursuant to the Automatic Transfer without any further action or direction on the part of such Pre-Transfer Holder. 

  
 A-9

 Exhibit A 

 
 In any case where Securities are held in
definitive form pursuant to Section 3.05 of the Base Indenture, if a Capital Adequacy Trigger Event has occurred as of any Quarterly Financial Period End Date or Extraordinary Calculation Date, as the case may be, the Company shall deliver an
Automatic Transfer Notice (as amended to reflect that the Securities are no longer in global form or held through DTC) to the Trustee (and, if different, the Dated Subordinated Debt Security Registrar in respect of the Securities) and to the
Pre-Transfer Holders: (i) in the case of a Capital Adequacy Trigger Event that has occurred as of any Quarterly Financial Period End Date, on or within five (5) Business Days after the relevant Ordinary Reporting Date; and (ii) in the
case of a Capital Adequacy Trigger Event that has occurred as of any Extraordinary Calculation Date, on or as soon as practicable after such Extraordinary Calculation Date. On the Business Day on which such notice is received by the Trustee or on
the Business Day immediately following such receipt, the Trustee and any Dated Subordinated Debt Security Registrar, if applicable, shall cease to register any attempted transfer of any Securities held in definitive form by a Pre-Transfer Holder. On
the sixth (6th) Business Day following receipt of the
Automatic Transfer Notice by the Trustee and any Dated Subordinated Debt Security Registrar, if applicable, the Automatic Transfer shall occur, any Securities held in definitive form by Pre-Transfer Holders shall be deemed to have been surrendered
for transfer to the Parent (or another entity within the Group), and the Company shall execute a new definitive Security. Upon delivery to the Trustee of such new definitive Security executed by the Company, a Company Order requesting the
authentication thereof and an Opinion of Counsel stating that the form and terms thereof have been established in conformity with the provisions of the Indenture and that the conditions precedent under the provisions of the Indenture to the
authentication and delivery of the new definitive Security and the issuance thereof to the Parent (or another entity within the Group) have been satisfied, such new definitive Security shall be authenticated and registered in the name of the Parent
(or another entity within the Group). 
 Effective upon, and following, the occurrence of the Automatic Transfer, Pre-Transfer
Holders shall not have any rights against the Company with respect to repayment of the principal amount of the Securities that has not become due or the payment of interest on the Securities for any period from (and including) the Interest Payment
Date falling immediately prior to the occurrence of such Automatic Transfer. 
 By its acquisition of the Securities, each
Pre-Transfer Holder shall be deemed to have (i) consented to the Automatic Transfer and acknowledged that the Automatic Transfer of its Securities held in definitive form following a Capital Adequacy Trigger Event may occur without any action
on such Pre-Transfer Holder’s part and (ii) authorized, directed and requested the Trustee, the Dated Subordinated Debt Security Registrar, if applicable, and any intermediary through which it holds the Securities to take any and all
necessary action, if required, to effectuate the Automatic Transfer without any further action or direction on the part of such Pre-Transfer Holder. Furthermore, each Pre-Transfer Holder acknowledges that it hereby consents to the

  
 A-10

 Exhibit A 

 
 
Automatic Transfer of its Securities held in definitive form following the occurrence of a Capital Adequacy Trigger Event as described in the First Supplemental Indenture and the Securities and
that it hereby authorizes, directs and requests the Trustee, the Dated Subordinated Debt Security Registrar, if applicable, and any intermediary through which it holds such Securities to take any and all actions necessary to effectuate the
transfer of its Securities held in definitive form pursuant to the Automatic Transfer without any further action or direction on the part of such Pre-Transfer Holder. 
 Once the Company has delivered an Automatic Transfer Notice following the occurrence of a Capital Adequacy Trigger Event, (i) the Pre-Transfer Holders shall have no rights whatsoever under the
Indenture or the Securities to instruct the Trustee to take any action whatsoever and (ii) as of the date of the Automatic Transfer Notice, except for any indemnity and/or security provided by any Pre-Transfer Holder in such direction or
related to such direction, any direction previously given to the Trustee by any Pre-Transfer Holders shall cease automatically and shall be null and void and of no further effect; except in each case of (i) and (ii) of this paragraph, with
respect to any rights of Pre-Transfer Holders with respect to any payments under the Securities that were due and payable prior to the date of the Automatic Transfer Notice or unless the Trustee is instructed by the Company to act otherwise.

 In the event that (i) a court of competent jurisdiction in England (or such other jurisdiction in which the Company is
organized) issues an order, or an effective shareholders’ resolution is validly adopted for the winding-up of the Company or (ii) following the appointment of an administrator of the Company, the administrator gives notice that it intends
to declare and distribute a dividend, and in each such case a Capital Adequacy Trigger Event has not occurred as of the date of such order or the date of such resolution or notice, no subsequent Capital Adequacy Trigger Event shall occur or be
deemed to occur. In the event that (i) a court of competent jurisdiction in England (or such other jurisdiction in which the Company is organized) issues an order, or an effective shareholders’ resolution is validly adopted, for the
winding up of the Company or (ii) following the appointment of an administrator of the Company, the administrator gives notice that it intends to declare and distribute a dividend, in each such case after the occurrence of a Capital Adequacy
Trigger Event but prior to the occurrence of the Automatic Transfer, such Capital Adequacy Trigger Event shall be deemed not to have occurred, and the Company shall enter into appropriate arrangements with DTC (or make alternative arrangements) to
preserve the rights of the Pre-Transfer Holders under the Securities in relation to such winding-up or dividend, which arrangements may include the transfer of the Securities back to the Pre-Transfer Holders to the extent practicable (it being
understood that in the event any interests in the Securities shall have been transferred to the Parent (or another entity within the Group) in the circumstances contemplated in this paragraph, the Parent (or such other entity) shall be deemed to
hold any such interests on behalf of the Pre-Transfer Holders), and the Pre-Transfer Holders may direct the Trustee in accordance with the requirements of Section 5.12 of the Base Indenture. 

  
 A-11

 Exhibit A 

 
 For the avoidance of doubt, after the occurrence of the
Automatic Transfer, with the exception of the transfers contemplated in Section 2.07(d) of the First Supplemental Indenture, no further transfers of the Securities (including beneficial interests therein) shall be permitted other than a
transfer of all interests in the Securities to the Company or another entity within the Group. The Company intends to secure the termination of any listing of the Securities on any stock exchange if the Automatic Transfer occurs. 

All authority conferred or agreed to be conferred by each Pre-Transfer Holder pursuant to Section 2.07 of the First Supplemental
Indenture, including the consents given by such Pre-Transfer Holder, shall be binding upon the successors, assigns, heirs, executors, administrators, trustees in bankruptcy and legal representatives of such Pre-Transfer Holder. 

The Trustee shall not be liable with respect to (i) the calculation or accuracy of the CET1 Ratio in connection with the occurrence
of a Capital Adequacy Trigger Event and the timing of such Capital Adequacy Trigger Event, (ii) the failure of the Company to post or deliver the underlying CET1 Ratio calculations of a Capital Adequacy Trigger Event to DTC or the Pre-Transfer
Holders, (iii) any aspect of the Company’s decision to deliver an Automatic Transfer Notice or the related Automatic Transfer or (iv) the adequacy of the disclosure of these provisions in the Prospectus Supplement or for the direct or
indirect consequences thereof. 
 By its acquisition of the Securities, each Pre-Transfer Holder (i) agrees to all of the
terms and conditions of the Securities, including, without limitation, those related to the occurrence of a Capital Adequacy Trigger Event and any related Automatic Transfer, (ii) agrees that effective upon, and following, the occurrence of the
Automatic Transfer, other than with respect to payments that have become due and payable prior to such Automatic Transfer, no amount shall be due and payable to the Pre-Transfer Holders under the Securities, and the Pre-Transfer Holders shall not
have the right to give a direction to the Trustee with respect to the Capital Adequacy Trigger Event and any related Automatic Transfer and (iii) waives, to the extent permitted by the Trust Indenture Act, any claim against the Trustee arising
out of its acceptance of its trusteeship for the Securities, including, without limitation, claims related to or arising out of or in connection with a Capital Adequacy Trigger Event and/or the Automatic Transfer. 

An “Event of Default” with respect to the Securities shall result if (i) a court of competent jurisdiction in England (or
such other jurisdiction in which the Company may be organized) makes an order for the winding up of the Company which is not successfully appealed within thirty (30) days of the making of such order, or (ii) the shareholders of the Company
adopt an effective resolution for the winding up of the Company (other than, in the case of either (i) or (ii) above, under or in connection with a scheme of reconstruction, merger or amalgamation not involving a bankruptcy or insolvency).

  
 A-12

 Exhibit A 

 
 A “Default” with respect to the Securities shall
result if the Company does not pay any installment of interest upon, or any part of the principal of any Securities on the date on which the payment is due and payable, whether upon redemption or otherwise, and the failure continues for fourteen
(14) days. 
 If an Event of Default or Default occurs and is continuing, and such Event of Default or Default has neither
been cured nor waived within a period of fourteen (14) days following the provision of notice of such Event of Default or Default to the Company from the Trustee, the Trustee may at its discretion and without further notice to the Company
institute proceedings in England (or such other jurisdiction in which the Company may be organized) (but not elsewhere) for the winding up of the Company. 
 Failure to make any payment in respect of the Securities shall not be a Default if the payment is withheld or refused either: (i) in order to comply with any fiscal or other law or regulation or with
the order of any court of competent jurisdiction, in each case applicable to such payment; or (ii) in case of doubt as to the validity or applicability of any such law, regulation or order, in accordance with advice given as to such validity or
applicability at any time before the expiry of the fourteen-day (14-day) period by independent legal advisers acceptable to the Trustee. In this case, however, the Trustee may, by notice to the Company, require the Company to take action, including
proceedings for a court declaration, to resolve the doubt, if counsel advises it that the action is appropriate and reasonable. In this situation, the Company shall take the action promptly and be bound by any final resolution of the doubt. If the
action results in a determination that the Company can make the relevant payment without violating any law, regulation or order, then the payment shall become due and payable on the expiration of the fourteen-day (14-day) period after the Trustee
gives the Company written notice informing the Company of the determination. 
 Subject to applicable law and unless the
Securities provide otherwise, claims in respect of any Securities may not be set off, or be the subject of a counterclaim, by the Holder against or in respect of any of its obligations to the Company, and every Holder waives, and shall be treated
for all purposes as if it had waived, any right that it might otherwise have to set-off, or to raise by way of counterclaim any of its claims in respect of any Securities, against or in respect of any of its obligations to the Company. No Holder
shall be entitled to proceed directly against the Company unless the Trustee has become bound to proceed but fails to do so within a reasonable period and the failure is continuing. 

Other than the limited remedies specified in Section 3.02(b) of the First Supplemental Indenture, on the occurrence of a Default or
an Event of Default which is continuing, no remedy against the Company shall be available to the Trustee or the Holders of the Securities whether for the recovery of amounts owing in respect of such Securities or under the Indenture in relation
thereto or in respect of any breach by the Company of any of its other obligations under or in respect of the Securities or under the 

  
 A-13

 Exhibit A 

 
 
Indenture in relation thereto, save that the Trustee shall have such powers as are required to be authorized to it under the Trust Indenture Act in respect of the rights of the Holders of the
Securities in response to such Event of Default or Default under the provisions of the Indenture, and provided that any payments are subject to the subordination provisions set forth in Section 12.01 of the Base Indenture and Section 4.01
of the First Supplemental Indenture. 
 No recourse for the payment of the principal of, or interest on, any Security, or for
any claim based thereon or otherwise in respect thereof and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture, or in any Security, or because of the creation of any indebtedness represented thereby,
shall be had against any incorporator, stockholder, officer or director, past, present or future, of the Company or of any successor corporation of the Company, either directly or through the Company or any successor corporation of the Company,
whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, it being expressly understood that to the extent lawful all such liability is hereby expressly waived and released as a
condition of, and as a consideration for, the execution of the First Supplemental Indenture and the issue of the Securities. 

In the event that a Default has occurred and the Trustee has instituted proceedings in England (or such other jurisdiction in which the
Company may be organized) (but not elsewhere) for the winding up of the Company, then if a Suspension Period shall commence prior to the making of an order by a court of competent jurisdiction for the winding up of the Company, the Trustee shall
cease such proceedings and, notwithstanding Section 5.12 of the Base Indenture, any direction by Pre-Transfer Holders under the First Supplemental Indenture to the Trustee in respect of such proceedings shall cease automatically and shall be
null and void and of no further effect, except with respect to any indemnity and/or security given to the Trustee by the Pre-Transfer Holders in any such direction or related to such direction. To the extent set forth in Section 6.01 of the
Base Indenture, the Trustee shall not be liable to any Pre-Transfer Holder in respect of the cessation of such proceedings or the termination of the effectiveness of any such direction, and any indemnity and/or security given to the Trustee by the
Pre-Transfer Holders in any such direction or related to such direction shall continue to be in full force and effect and shall be unaffected by the cessation of such proceedings or the termination of the effectiveness of any such direction in
accordance with this paragraph. 
 Notwithstanding Section 5.12 of the Base Indenture, in the event that a Default has
occurred and the Trustee receives a direction from Pre-Transfer Holders to institute proceedings in England (or such other jurisdiction in which the Company may be organized) (but not elsewhere) for the winding up of the Company, then if a
Suspension Period shall commence before the Trustee shall have instituted such proceedings, the Trustee is hereby directed not to, and shall not be required to, initiate such proceedings and, to the extent set forth in Section 6.01 of the Base
Indenture, shall not be liable to any Pre-Transfer Holder in respect of not having commenced such proceedings. 

  
 A-14

 Exhibit A 

 
 For the avoidance of doubt, the rights of Pre-Transfer
Holders in respect of any payment that has become due and payable prior to the Automatic Transfer shall not be affected by the provisions of Section 3.02(g) of the First Supplemental Indenture and furthermore, notwithstanding Section 5.12
of the Base Indenture, effective upon, and following, the commencement of any Suspension Period, the Trustee shall not be required to accept directions from Pre-Transfer Holders other than in respect of action limited solely to pursuing any such
payment. 
 As provided in Section 2.07(d) of the First Supplemental Indenture, and for the avoidance of doubt, if,
pursuant to such Section 2.07(d), a Capital Adequacy Trigger Event shall be deemed not to have occurred, the rights of Pre-Transfer Holders under Section 3.02 of the First Supplemental Indenture shall be as if no such Capital Adequacy
Trigger Event had occurred. 
 The Company covenants and agrees, and each Holder of the Securities, by his acceptance hereof,
likewise covenants and agrees, that to the extent and in the manner set forth in Article Twelve of the Base Indenture and Section 4.01 of the First Supplemental Indenture, the Securities and the payment of the principal of and interest or other
amounts (including any damages or other payments awarded for breach of any obligations thereunder), if any, on each and all of the Securities are hereby expressly made subordinate and constitute subordinated obligations of the Company insofar as
that on a winding up or administration of the Company the rights of each Holder of the Securities are to be postponed to the claims of the Senior Creditors. Accordingly, no amount shall be payable to the Holders of the Securities until the claims of
the Senior Creditors have been satisfied or provided for in full. Any amounts in respect of the Securities (including any damages or other payments awarded for breach of any obligations thereunder) paid to the Trustee in the winding up of the
Company shall be held by the Trustee subject to the following paragraph. 
 In the event of the winding up or administration of
the Company, the claims of the Trustee (on behalf of the Holders of the Securities but not the rights and claims of the Trustee in its personal capacity under the Indenture) and the Holders of the Securities against the Company in respect of such
Securities (including any damages or other payments awarded for breach of any obligations thereunder) shall (a) be subordinated to the claims of all Senior Creditors (the “Dated Debt Senior Claims”); (b) rank at least
pari passu with the claims of Holders of all other dated subordinated obligations of the Company and other securities of the Company which in each case by law rank, or by their terms are expressed to rank, pari passu with the
Securities; and (c) rank senior to the Company’s ordinary shares, preference shares and any junior subordinated obligations or other securities of the Company which by law rank, or by their terms are expressed to rank, junior to the
Securities. Any amounts in respect of the 

  
 A-15

 Exhibit A 

 
 
Securities paid to the Holders of such Securities or to the Trustee (including any damages or other payments awarded for breach of any obligations thereunder) shall be held by such Holders or the
Trustee upon trust to be applied in the following order: (i) to the amounts due to the Trustee in or about the execution of the trusts of the Indenture; (ii) in payment of all Dated Debt Senior Claims outstanding at the commencement of, or
arising solely by virtue of, the winding up of the Company to the extent that such claims shall be admitted in the winding up and shall not be satisfied out of the other resources of the Company; and (iii) in payment of the Securities;
provided that the obligation pursuant to clause (ii) may be performed by the Trustee paying to the liquidator of the Company (the “Liquidator”) the amount to be so applied on terms that the Liquidator shall distribute
and pay the same to the Senior Creditors, in which event the receipt by the Liquidator of such amount shall be a good discharge to the Trustee and the Trustee shall not be bound to supervise or be in any way responsible for such distribution or
payment. The Trustee shall be entitled and is hereby authorized to call for a certificate from the Liquidator as to the amount of the Dated Debt Senior Claims and the amounts of the Dated Debt Senior Claims which shall not have been satisfied in
full out of the other resources of the Company (if any) and the persons entitled thereto and their respective entitlements. Any such certificate shall, absent manifest error, be conclusive and binding on the Trustee, the Holders of the Securities
and all depositors and other creditors of the Company, all holders or beneficiaries (or the trustee(s) for such holders or beneficiaries) of securities of the Company ranking pari passu with the Securities and all Senior Creditors. Nothing in
this paragraph shall affect or prejudice the payment of the costs, charges, expenses, liabilities or remuneration of the Trustee or the rights and remedies of the Trustee in respect thereof. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities then Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Securities of each series then Outstanding, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past Events of Default or Defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this
Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of
this Security shall not have any right to institute any proceeding, judicial or otherwise, with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously
given the Trustee 

  
 A-16

 Exhibit A 

 
 
written notice of a continuing Event of Default or Default with respect to the Securities of this series, the Holders of not less than 25% in aggregate principal amount of the Securities of this
series then Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default or Default as Trustee and offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to
be incurred in compliance with such request, the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series then Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding, for sixty (60) days after receipt of such notice, request and offer of indemnity, and, in the case of a proceeding in England (or such other jurisdiction in which the Company may be organized) (but not elsewhere)
for the winding-up of the Company, such proceeding is in the name and on behalf of the Trustee to the same extent (but no further or otherwise) as the Trustee would have been entitled so to do. The foregoing shall not apply to any suit instituted by
the Holder of this Security for the enforcement of any payment of principal hereof or interest hereon on or after the respective due dates expressed or provided for herein. 
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of
and interest on this Security at the times, place and rate, and in the coin or currency, as herein provided. 
 As provided in
the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Dated Subordinated Debt Security Register, upon surrender of this Security for registration of transfer at the office or agency
of the Company in any place where the principal of this Security is payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Dated Subordinated Debt Security Registrar duly executed
by, the Holder hereof or his attorney duly authorized in writing. Thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated
transferee or transferees. 
 This Security, and any other Securities of this series and of like tenor, are issuable only in
registered form without coupons in initial denominations of $200,000 and increments of $1,000 thereafter. The denominations cannot be changed without the consent of the Trustee. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
 A-17

 Exhibit A 

 
 This Security and the Indenture shall be governed by and
construed in accordance with the laws of the State of New York, except that the subordination provisions referred to herein and in Section 12.01 of the Base Indenture and Section 4.01 of the First Supplemental Indenture shall be governed
by and construed in accordance with the laws of England and Wales. 

  
 A-18

 Exhibit B 

 
 Form of Automatic Transfer Notice1

 NOTICE TO DTC AND FOR PUBLICATION AS A NOTICE TO HOLDERS 
 [Barclays
Letterhead] 
  

					
	To:	  	 The Depository Trust Company
 55 Water Street, 25th Floor
 New York, NY 10041-0099

Attn: Mandatory Reorganization

Department
 Fax: +1 (212) 855-5488

Email: reorgannouncements@dtcc.com
	  	
			
	Cc:	  	 [The Bank of New York Mellon
 101 Barclay Street
 New York, New York 10286

United States of America
 Attn: Corporate Trust
Administration
 Fax: +1 (212) 815-5915]
  

BNY Corporate Trustee Services Limited
 One
Canada Square
 London E14 5AL
 United
Kingdom
 Attn: Corporate Trust Administration
 Fax: +44 207 964 2536
 Email: corpsovukandire@bnymellon.com]
	  	 [The Bank of New York Mellon

One Canada Square
 London E14 5AL

United Kingdom
 Attn: Corporate Trust
Administration
 Fax: +44 207 964 2536

Email: corpsovukandire@bnymellon.com]

 Re: Barclays Bank PLC $3,000,000,000 7.625% Contingent Capital Notes due November 2022 (CUSIP: 06740L8C2, ISIN:
US06740L8C27) – Notice to DTC and Holders of the Occurrence of a Capital Adequacy Trigger Event 
 This notice is in relation to
Barclays Bank PLC’s $3,000,000,000 7.625% Contingent Capital Notes due November 2022 (CUSIP: 06740L8C2, ISIN: US06740L8C27) issued on November 21, 2012 (the “Notes”) pursuant to the Dated Subordinated Debt Securities Indenture,
dated October 12, 2010, between Barclays Bank PLC and The Bank of New York Mellon, as Trustee, as supplemented by the First Supplemental Indenture, dated November 21, 2012 (together, the “Indenture”) and pursuant to the
prospectus supplement dated November 14, 2012, supplementing the prospectus dated August 31, 2010 (together, the “Prospectus”). Capitalized terms used herein and not defined herein shall have the respective meanings ascribed to
such terms in the Indenture. 
  

	1 	 Note: Addresses to be reconfirmed prior to when notice is sent; subject to modification if
Notes are held in definitive form. 

  
 B-1

 Exhibit B 

 
 Barclays Bank PLC hereby notifies The Depository Trust
Company (“DTC”) and the holders of the Notes that a Capital Adequacy Trigger Event has occurred with respect to the Notes (the “Pre-Transfer Holders”). Such Capital Adequacy Trigger Event has occurred because the Group’s
CET1 Ratio as of [Date], as calculated by Barclays PLC on a consolidated basis in accordance with the capital adequacy standards and guidelines of the Financial Services Authority of the United Kingdom (or such other governmental authority
having primary responsibility for the prudential supervision of Barclays Bank PLC) on such date, was less than 7.00%. The terms of the Notes provide, upon the occurrence of the Capital Adequacy Trigger Event, for the Automatic Transfer of the
interests of the Pre-Transfer Holders in the Notes to Barclays PLC1 without any action on such Pre-Transfer Holders’ part, and, in connection therewith, such Pre-Transfer Holders will no longer have an interest in the Notes as described in the Prospectus.

 Accordingly, Barclays Bank PLC hereby instructs DTC to commence the Suspension Period by implementing a
“chill” on the clearance and settlement of the Notes within DTC, which shall last for a period of five (5) business days (or such other period as DTC shall determine in accordance with its rules and procedures). Such “chill”
shall become effective on the business day immediately following the date on which this notice is received by DTC; except that such “chill” may become effective on the second (2nd) business day immediately following the date on which this notice is received by DTC, if DTC so determines in its
discretion in accordance with its rules and procedures. As described in the Prospectus, Pre-Transfer Holders will not be able to settle the transfer of any Notes during this “chill” period, and any sale or other transfer of the Notes that
a Pre-Transfer Holder may have initiated prior to the commencement of this “chill” period that is scheduled to settle during this “chill” period will be rejected by DTC and will not be settled within DTC. 

Further, under the terms of the Notes, DTC is instructed to deliver all participants’ positions held in the Notes in accordance with the following
sentence and, as set forth in the Prospectus, the Pre-Transfer Holders shall lose their entire investment in the Notes and have no further rights with respect to the repayment of the principal amount of the Notes or the payment of interest on such
Notes for any period from (and including) the interest payment date falling immediately prior to the occurrence of the transfer described in the following sentence. On the business day immediately following the expiration of the Suspension Period,
Barclays Bank PLC hereby instructs DTC to transfer all positions in the Notes to the DTC participant account of Barclays Capital Inc. (participant account number [•]). 
 Barclays Bank PLC further requests DTC to post this notice on its Reorganization Inquiry for Participants System (or such other system as DTC uses for providing notices to holders of securities).

 Should DTC or any holders of the Notes have any inquiries, please contact: 

 

	2 	 Note: In final notice, this reference may refer to a successor holding company of Barclays Bank PLC or another entity within the Group.

  
 B-2

 Exhibit B 

 
 [Barclays Contact Person] 

[Telephone] 
 [Fax] 

[Email] 

  
 B-3

 Exhibit C 

 
 Form of Capital Adequacy Trigger Event Officers’
Certificate 
 BARCLAYS BANK PLC 
 Capital Adequacy Trigger Event Officers’ Certificate 
 This Capital Adequacy Trigger
Event Officers’ Certificate is being delivered in relation to Barclays Bank PLC’s (the “Bank”) $3,000,000 7.625% Contingent Capital Notes due November 2022 (CUSIP: 06740L8C2, ISIN: US06740L8C27) issued on November 21, 2012
(the “Notes”) pursuant to the Dated Subordinated Debt Securities Indenture (the “Base Indenture”), dated October 12, 2010, between the Bank and The Bank of New York Mellon, as Trustee (the “Trustee”), as
supplemented by the First Supplemental Indenture, dated November 21, 2012 (the “First Supplemental Indenture”), and pursuant to the prospectus supplement dated November 14, 2012, supplementing the prospectus dated August 31,
2010 (together, the “Prospectus”). 
 Pursuant to Section 1.02 of the Base Indenture and Section 2.07 of the First
Supplemental Indenture, the undersigned, being authorized signatories of the Bank and authorized by the Bank to give this certificate, each hereby certify as follows: 
  

	(a)	I have read the provisions of the Base Indenture and those of the First Supplemental Indenture, setting forth certain provisions in respect of the occurrence of a
Capital Adequacy Trigger Event (as defined in the First Supplemental Indenture), including Section 2.07 of the First Supplemental Indenture, and the definitions relating thereto; 

 

	(b)	I have reviewed such corporate records and such other documents as I have deemed necessary as a basis for the opinion hereinafter expressed; 

 

	(c)	I have also made such other examinations and investigations as I have deemed necessary to enable me to express an informed opinion as to the matters set forth in
(d) below; and 

  

	(d)	a Capital Adequacy Trigger Event has occurred with respect to the Notes. Such Capital Adequacy Trigger Event has occurred because the Group’s (as defined in the
First Supplemental Indenture) CET1 Ratio (as defined in the First Supplemental Indenture) as of [Date], as calculated by Barclays PLC on a consolidated basis in accordance with the capital adequacy standards and guidelines of the Financial
Services Authority of the United Kingdom (or such other governmental authority having primary responsibility for the prudential supervision of Barclays Bank PLC) on such date, was less than 7.00%. 

Concurrently with the delivery of this Capital Adequacy Trigger Event Officers’ Certificate, the Bank is delivering to The Depository Trust Company
(“DTC”) an Automatic Transfer Notice (as defined in the First Supplemental Indenture) as a notice to DTC and for publication as a notice to Holders (as defined in the First Supplemental Indenture) in the form set forth in Exhibit B to the
First Supplemental Indenture. 

  
 C-1

 Exhibit C 

 
 The Trustee is entitled to conclusively rely on and accept this Capital
Adequacy Trigger Event Officers’ Certificate without any duty whatsoever of further inquiry as sufficient and conclusive evidence of the occurrence of the Capital Adequacy Trigger Event, and this Capital Adequacy Trigger Event Officers’
Certificate shall be conclusive and binding on the Trustee and the Pre-Transfer Holders (as defined in the First Supplemental Indenture). 

  
 C-2

 Exhibit C 

 
 Dated: [•] 

 

			
	By:	 	 
		 	Name:
		 	Title:

  

			
	By:	 	 
		 	Name:
		 	Title:

  
 C-32004 Employee and Director Equity-Based Compansation Plan

 Exhibit 10(n)(i) 
 BECTON, DICKINSON AND COMPANY 
 2004 EMPLOYEE AND DIRECTOR EQUITY-BASED

 COMPENSATION PLAN 
 As amended and restated as of November 20, 2012 
 Section 1.
Purpose. 
 The purpose of the Becton, Dickinson and Company 2004 Employee and Director Equity-Based Compensation Plan is
to provide an incentive to employees of the Company and its subsidiaries to achieve long-range goals, to aid in attracting and retaining employees and directors of outstanding ability and to closely align their interests with those of shareholders.

 Section 2. Definition. 
 As used in the Plan, the following terms shall have the meanings set forth below: 

(a) “Affiliate” shall mean (i) any entity that, directly or indirectly, is controlled by the Company and
(ii) any entity in which the Company has a significant equity interest, in either case as determined by the Committee. 

(b) “Award” shall mean any Option, Stock Appreciation Right, award of Restricted Stock, Restricted Stock Unit,
Performance Unit or Other Stock-Based Award granted under the Plan. 
 (c) “Award Agreement” shall mean
any written agreement, contract or other instrument or document evidencing any Award granted under the Plan, which may, but need not, be executed or acknowledged by a Participant. 

(d) “Board” shall mean the board of directors of the Company. 

(e) “Cause” shall mean (i) the willful and continued failure of a Participant to perform substantially the
Participant’s duties with the Company or any Affiliate (other than any such failure resulting from incapacity due to physical or mental illness), or (ii) the willful engaging by the Participant in illegal conduct or gross misconduct that
is materially and demonstrably injurious to the Company. No act, or failure to act, on the part of the Participant shall be considered “willful” unless it is done, or omitted to be done, by the Participant in bad faith or without the
reasonable belief that the Participant’s action or omission was in the best interest of the Company. 
 (f) “Change
in Control” means 
 (i) the acquisition by any individual, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 25%
or more of either (A) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled
to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this Section 2(f), the following acquisitions shall not constitute a Change in
Control: (i) any acquisition directly from the Company; (ii) any acquisition by the Company, or (iii) any acquisition by any employee 

 
benefit plan (or related trust) sponsored or maintained by the Company or any affiliated company, (iv) any acquisition by any corporation pursuant to a transaction that complies with
Section 2(f)(iii)(A), Section 2(f)(iii)(B) and Section 2(f)(iii)(C), or (v) any acquisition that the Board determines, in good faith, was inadvertent, if the acquiring Person divests as promptly as practicable a sufficient amount
of the Outstanding Company Common Stock and/or the Outstanding Company Voting Securities, as applicable, to reverse such acquisition of 25% or more thereof; 
 (ii) individuals who, as of the day after the effective time of this Plan, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the
Board; provided, however, that any individual becoming a director subsequent to such time whose election, or nomination for election as a director by the Company’s shareholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or
threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consent by or on behalf of a Person other than the Board; 

(iii) consummation of a reorganization, merger, consolidation or sale or other disposition of all or subsequently all of
the assets of the Company (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding
Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% of the then-outstanding shares of common stock and the combined voting power of
the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation that, as a result of such
transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of
the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the
Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 25% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination or
the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business Combination, and (C) at least a majority of the members of the board of directors of
the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or 

(iv) approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

(g) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

  
 - 2 -

 (h) “Committee” shall mean the Compensation and Benefits Committee of the
Board or such other committee as may be designated by the Board. 
 (i) “Company” shall mean Becton, Dickinson
and Company. 
 (j) “Disability” shall mean a Participant’s disability as determined in accordance with a
disability insurance program maintained by the Company. 
 (j) “409A Disability” shall mean a Disability that
qualifies as a total disability as defined below and determined in a manner consistent with Code Section 409A and the regulations thereunder: 
 The Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to
last for a continuous period of not less than 12 months. 
 A Participant will be deemed to have suffered a 409A Disability if
determined to be totally disabled by the Social Security Administration. In addition, the Participant will be deemed to have suffered a 409A Disability if determined to be disabled in accordance with a disability insurance program maintained by the
Company, provided that the definition of disability applied under such disability insurance program complies with the requirements of Code Section 409A and the regulations thereunder. 

(k) “Earnings Per Share” shall mean earnings per share calculated in accordance with U.S. Generally Accepted Accounting
Principles. 
 (l) “Executive Group” shall mean every person who is expected by the Committee to be both
(i) a “covered employee” as defined in Section 162(m) of the Code as of the end of the taxable year in which payment of the Award may be deducted by the Company, and (ii) the recipient of compensation of more than $1,000,000
for that taxable year. 
 (m) “Fair Market Value” shall mean, with respect to any property (including, without
limitation, any Shares or other securities) the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Committee. 

(n) “Incentive Stock Option” shall mean an option representing the right to purchase Shares from the Company, granted
under and in accordance with the terms of Section 6, that meets the requirements of Section 422 of the Code, or any successor provision thereto. 
 (o) “Market Share” shall mean the percent of sales of the total available market in an industry, product line or product attained by the Company or one of its business units during a time
period. 
 (p) “Net Income” shall mean net income calculated in accordance with U.S. Generally Accepted
Accounting Principles. 
 (q) “Net Revenue Per Employee” in a period shall mean net revenue divided by the
average number of employees of the Company, with average defined as the sum of the number of employees at the beginning and ending of the period divided by two. 
 (r) “Non-Qualified Stock Option” shall mean an option representing the right to purchase Shares from the Company, granted under and in accordance with the terms of Section 6, that is
not an Incentive Stock Option. 

  
 - 3 -

 (s) “Option” shall mean an Incentive Stock Option or a Non-Qualified Stock
Option. 
 (t) “Other Stock-Based Award” shall mean any right granted under Section 9. 

(u) “Participant” shall mean an individual granted an Award under the Plan. 

(v) “Performance Unit” shall mean any right granted under Section 8. 

(w) “Restricted Stock” shall mean any Share granted under Section 7. 

(x) “Restricted Stock Unit” shall mean a contractual right granted under Section 7 that is denominated in Shares.
Each Unit represents a right to receive the value of one Share (or a percentage of such value, which percentage may be higher than 100%) upon the terms and conditions set forth in the Plan and the applicable Award Agreement. Awards of Restricted
Stock Units may include, without limitation, the right to receive dividend equivalents. 
 (y) “Retirement”
shall mean a Separation from Service after attainment of retirement as specified in the applicable terms of an Award. 
 (z)
“Return On Common Equity” for a period shall mean net income less preferred stock dividends divided by total shareholders’ equity, less amounts, if any, attributable to preferred stock. 

(aa) “Return on Invested Capital” for a period shall mean earnings before interest, taxes, depreciation and amortization
divided by the difference of total assets less non-interest bearing current liabilities. 
 (bb) “Return On Net
Assets” for a period shall mean net income less preferred stock dividends divided by the difference of average total assets less average non-debt liabilities, with average defined as the sum of assets or liabilities at the beginning and
ending of the period divided by two. 
 (cc) “Revenue Growth” shall mean the percentage change in revenue (as
defined in Statement of Financial Accounting Concepts No. 6, published by the Financial Accounting Standards Board) from one period to another. 
 (dd) “Plan” shall mean this Becton, Dickinson and Company 2004 Employee and Director Equity-Based Compensation Plan. 

(ee) “Separation from Service” shall mean a termination of employment or other separation from service from the Company,
as described in Code Section 409A and the regulations thereunder, including, but not limited to a termination by reason of Retirement or involuntary termination without Cause, but excluding any such termination where there is a simultaneous
re-employment by the Company. 
 (ff) “Shares” shall mean shares of the common stock of the Company, $1.00 par
value. 
 (gg) “Specified Employee” shall mean a Participant who is deemed to be a specified employee in
accordance with procedures adopted by the Company that reflect the requirements of Code Section 409A(2)(B)(i) and the guidance thereunder. 
 (hh) “Stock Appreciation Right” shall mean a right to receive a payment, in cash and/or Shares, as determined by the Committee, equal in value to the excess of the Fair Market Value of a
Share at the time the Stock Appreciation Right is exercised over the exercise price of the Stock Appreciation Right. 

  
 - 4 -

 (ii) “Substitute Awards” shall mean Awards granted in assumption of, or in
substitution for, outstanding awards previously granted by a company acquired by the Company or with which the Company combines. 

(jj) “Total Shareholder Return” shall mean the sum of the appreciation in the Company’s stock price and dividends
paid on the common stock of the Company over a given period of time. 
 Section 3. Eligibility. 

(a) Any individual who is employed by (including any officer), or who serves as a member of the board of directors of, the Company or any
Affiliate shall be eligible to be selected to receive an Award under the Plan. 
 (b) An individual who has agreed to accept
employment by the Company or an Affiliate shall be deemed to be eligible for Awards hereunder as of the date of such agreement. 

(c) Holders of options and other types of Awards granted by a company acquired by the Company or with which the Company combines are
eligible for grant of Substitute Awards hereunder. 
 Section 4. Administration. 

(a) The Plan shall be administered by the Committee. The Committee shall be appointed by the Board and shall consist of not less than
three directors, each of whom shall be independent, within the meaning of and to the extent required by applicable rulings and interpretations of the New York Stock Exchange and the Securities and Exchange Commission, and each of whom shall be a
“Non-Employee Director”, as defined from time to time for purposes of Section 16 of the Securities Exchange Act of 1934 and the rules promulgated thereunder. The Board may designate one or more directors as alternate members of
the Committee who may replace any absent or disqualified member at any meeting of the Committee. The Committee may issue rules and regulations for administration of the Plan. It shall meet at such times and places as it may determine. A majority of
the members of the Committee shall constitute a quorum. 
 (b) Subject to the terms of the Plan and applicable law, the Committee
shall have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards (including Substitute Awards) to be granted to each Participant under the Plan; (iii) determine the number of Shares to be
covered by (or with respect to which payments, rights, or other matters are to be calculated in connection with) Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to what extent, and under what
circumstances Awards may be settled or exercised in cash, Shares, other securities, other Awards, or other property, or canceled, forfeited or suspended, and the method or methods by which Awards may be settled, exercised, canceled, forfeited or
suspended; (vi) determine whether, to what extent, and under what circumstances cash, Shares, other securities, other Awards, other property, and other amounts payable with respect to an Award under the Plan shall be deferred either
automatically or at the election of the holder thereof or of the Committee; (vii) interpret and administer the Plan and any instrument or agreement relating to, or Award made under, the Plan; (viii) establish, amend, suspend or waive such
rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; (ix) determine whether and to what extent Awards should comply or continue to comply with any requirement of statute or
regulation; and (x) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. Notwithstanding the foregoing, the Plan will be interpreted and administered by the
Committee in a manner that is consistent with the requirements of Code Section 409A to allow for tax deferral thereunder, and the Committee shall take no action hereunder that would result in a violation of Code Section 409A. 

  
 - 5 -

 (c) All decisions of the Committee shall be final, conclusive and binding upon all parties,
including the Company, the stockholders and the Participants. 
 Section 5. Shares Available For Awards. 

(a) The number of Shares available for issuance under the Plan is 26,800,000 shares, subject to adjustment as provided below.
Notwithstanding the foregoing and subject to adjustment as provided in Section 5(e), (i) no Participant may receive Options and Stock Appreciation Rights under the Plan in any calendar year that relate to more than 250,000 Shares,
(ii) the maximum number of Shares with respect to which unrestricted Awards (either as to vesting, performance or otherwise) may be made to employees under the Plan is 450,000 Shares, and (iii) the maximum number of Shares that may be
issued with respect to any Awards granted on or after February 2, 2010 that are not Awards of Options or Stock Appreciation Rights shall be 4,840,000. 
 (b) If, after the effective date of the Plan, any Shares covered by an Award other than a Substitute Award, or to which such an Award relates, are forfeited, or if such an Award otherwise terminates
without the delivery of Shares or of other consideration, then the Shares covered by such Award, or to which such Award relates, to the extent of any such forfeiture or termination, shall again be, or shall become, available for issuance under the
Plan, except as otherwise provided in Section 5(f). 
 (c) In the event that any Option or other Award granted hereunder
(other than a Substitute Award) is exercised through the delivery of Shares, or in the event that withholding tax liabilities arising from such Option or Award are satisfied by the withholding of Shares by the Company, the number of Shares available
for Awards under the Plan shall be increased by the number of Shares so surrendered or withheld. Notwithstanding the foregoing, this Section 5(c) will not apply to any such surrender or withholding of Shares occurring on or after
November 21, 2006. 
 (d) Any Shares delivered pursuant to an Award may consist, in whole or in part, of authorized and
unissued Shares or of treasury Shares. 
 (e) In the event that any dividend or other distribution (whether in the form of cash,
Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Shares or other securities of the Company, issuance
of warrants or other rights to purchase Shares or other securities of the Company, or other similar corporate transaction or event affects the Shares such that an adjustment is required in order to preserve the value of issued and outstanding Awards
and to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of
Shares (or other securities or property) which thereafter may be made the subject of Awards, including the aggregate and individual limits specified in Section 5(a), (ii) the number and type of Shares (or other securities or property)
subject to outstanding Awards, and (iii) the grant, purchase, or exercise price with respect to any Award or, if deemed appropriate, make provision for a cash payment to the holder of an outstanding Award; provided, however, that the
number of Shares subject to any Award denominated in Shares shall always be a whole number. 

  
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 (f) Shares underlying Substitute Awards shall not reduce the number of Shares remaining
available for issuance under the Plan. 
 (g) Upon the exercise of any Stock Appreciation Rights, the greater of (i) the
number of shares subject to the Stock Appreciation Rights so exercised, and (ii) the number of Shares, if any, that are issued in connection with such exercise, shall be deducted from the number of Shares available for issuance under the Plan.

 Section 6. Options and Stock Appreciation Rights. 

The Committee is hereby authorized to grant Options and Stock Appreciation Rights to Participants with the following terms and conditions
and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 
 (a) The exercise price per Share under an Option or Stock Appreciation Right shall be determined by the Committee; provided, however, that, except in the case of Substitute
Awards, such exercise price shall not be less than the Fair Market Value of a Share on the date of grant of such Option or Stock Appreciation Right. The exercise price of a Substitute Award may be less than the Fair Market Value of a Share on the
date of grant to the extent necessary for the value of Substitute Award to be substantially equivalent to the value of the award with respect to which the Substitute Award is issued, as determined by the Committee.  

(b) The term of each Option and Stock Appreciation Right shall be fixed by the Committee but shall not exceed 10 years from the date of
grant thereof. 
 (c) The Committee shall determine the time or times at which an Option or Stock Appreciation Right may be
exercised in whole or in part, and, with respect to Options, the method or methods by which, and the form or forms, including, without limitation, cash, Shares, other Awards, or other property, or any combination thereof, having a Fair Market Value
on the exercise date equal to the relevant exercise price, in which, payment of the exercise price with respect thereto may be made or deemed to have been made. 
 (d) The terms of any Incentive Stock Option granted under the Plan shall comply in all respects with the provisions of Section 422 of the Code, or any successor provision thereto, and any regulations
promulgated thereunder. 
 (e) Section 10 sets forth certain additional provisions that shall apply to Options and Stock
Appreciation Rights. 
 Section 7. Restricted Stock And Restricted Stock Units. 

(a) The Committee is hereby authorized to grant Awards of Restricted Stock and Restricted Stock Units to Participants. 

(b) Shares of Restricted Stock and Restricted Stock Units shall be subject to such restrictions as the Committee may impose (including,
without limitation, any limitation on the right to vote a Share of Restricted Stock or the right to receive any dividend or other right or property), which restrictions may lapse separately or in combination at such time or times, in such
installments or otherwise, as the Committee may deem appropriate; provided, that if the vesting conditions applicable to an Award of Restricted Stock or Restricted Stock Units to an employee of the Company relate exclusively to the passage of time
and continued employment, such time period shall consist of not less than thirty-six (36) months. In the event the vesting of 

  
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any Award of Restricted Stock is subject to the achievement of performance goals, the performance period relating to such Award shall be at least twelve (12) months. Any Award of Restricted
Stock Units for which vesting is conditioned upon the achievement of performance goals shall be considered an award of Performance Units under Section 8. 
 (c) Any share of Restricted Stock granted under the Plan may be evidenced in such manner as the Committee may deem appropriate including, without limitation, book-entry registration or issuance of a stock
certificate or certificates. In the event any stock certificate is issued in respect of shares of Restricted Stock granted under the Plan, such certificate shall be registered in the name of the Participant and shall bear an appropriate legend
referring to the terms, conditions, and restrictions applicable to such Restricted Stock. 
 (d) Upon a Participant’s
(i) Separation from Service on account of Retirement, death or Disability, any and all remaining restrictions with respect to an award of Restricted Stock granted to the Participant shall lapse, and the Participant shall receive all of the
Shares of Restricted Stock subject to the award, (ii) involuntary termination without Cause, any and all remaining restrictions with respect to an award of Restricted Stock shall lapse, and the Participant shall receive a pro-rata portion of
the Shares of Restricted Stock subject to the Award based on the portion of the vesting period that the Participant was employed, and (iii) voluntary termination or involuntary termination with Cause, all Shares of Restricted Stock held by the
Participant shall be forfeited as of the date of termination. 
 (e) Notwithstanding anything contained herein to the contrary,
upon a Participant’s: 
 (i) Separation from Service on account of Retirement or Disability, any and all remaining
restrictions with respect to Restricted Stock Units granted to the Participant shall lapse and the Participant shall receive any amounts otherwise payable with respect to such Restricted Stock Units as soon as administratively practicable thereafter
(or at such later distribution date as may be set by the Committee at the time of the Award or in any amendment thereto), except that, for amounts subject to Code Section 409A, in the case of a Participant who is a Specified Employee, the
payment of such amounts that are made on account of the Specified Employee’s Separation from Service shall not be made prior to the earlier of (A) the first day of the seventh month following the Participant’s Separation from Service
(without regard to whether the Participant is reemployed on that date) or (B) death; 
 (ii) Separation from Service on
account of involuntary termination without Cause, any and all remaining restrictions with respect to Restricted Stock Units granted to the Participant shall lapse and the Participant shall receive a pro-rata portion of any amounts otherwise payable
with respect to such Restricted Stock Units as soon as administratively practicable thereafter based on the portion of the vesting period that the Participant was employed; provided, that the Committee may, in its discretion, authorize the payment
to the Participant of all amounts payable with respect to such Restricted Stock Units in the case of financial hardship on the part of the Participant or in connection with a reduction-in-force. Notwithstanding the foregoing, for amounts subject to
Code Section 409A, in the case of a Participant who is a Specified Employee, the payment of such amounts that are made on account of the Specified Employee’s Separation from Service shall not be made prior to the earlier of (A) the
first day of the seventh month following the Participant’s Separation from Service (without regard to whether the Participant is reemployed on that date) or (B) death; 

(iii) death, any and all remaining restrictions with respect to Restricted Stock Units granted to the Participant shall lapse and the
Participant’s beneficiary shall receive any amounts otherwise payable with respect to such Restricted Stock Units as soon as administratively practicable thereafter; and 

  
 - 8 -

 (iv) voluntary termination or involuntary termination with Cause, all Restricted Stock Units
held by the Participant shall be forfeited as of the date of termination. 
 Section 8. Performance Units.

 (a) The Committee is hereby authorized to grant Performance Units to Participants. 

(b) Subject to the terms of the Plan, a Performance Unit granted under the Plan (i) may be denominated or payable in cash, Shares
(including, without limitation, Restricted Stock), other securities, other Awards, or other property and (ii) shall confer on the holder thereof rights valued as determined by the Committee and payable to, or exercisable by, the holder of the
Performance Unit, in whole or in part, upon the achievement of such performance goals during such performance periods as the Committee shall establish. Subject to the terms of the Plan, the performance goals to be achieved during any performance
period, the length of any performance period, the amount of any Performance Unit granted and the amount of any payment or transfer to be made pursuant to any Performance Unit shall be determined by the Committee; provided, that the performance
period relating to any Award of Performance Units shall be at least twelve (12) months. 
 (c) Notwithstanding anything
contained herein to the contrary, upon a Participant’s: 
 (i) Separation from Service on account of Retirement or
involuntary termination without Cause prior to the expiration of any performance period applicable to a Performance Unit granted to the Participant, the Participant shall be entitled to receive, following the expiration of such performance period, a
pro-rata portion of any amounts otherwise payable with respect to, or a pro-rata right to exercise, the Performance Unit; 
 (ii)
death or 409A Disability prior to the expiration of any performance period applicable to a Performance Unit granted to the Participant, the Participant or the Participant’s beneficiary shall receive upon such event a partial payment with
respect to, or a partial right to exercise, such Performance Unit as determined by the Committee in its discretion; 
 (iii)
Separation from Service on account of Disability (other than a 409A Disability) prior to the expiration for any performance period applicable to a Performance Unit granted to the Participant, the Participant shall be entitled to receive, following
the expiration of such performance period, a partial payment with respect to, or a partial right to exercise, such Performance Unit as determined by the Committee in its discretion; and 

(iv) voluntary termination or involuntary termination with Cause, all Performance Units held by the Participant shall be canceled as of
the date of termination. 
 Section 9. Other Stock-Based Awards. 

The Committee is hereby authorized to grant to Participants such other Awards (including, without limitation, rights to dividends and
dividend equivalents) that are denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including, without limitation, securities convertible into Shares) as are deemed by the Committee to
be consistent with the purposes of the Plan (provided that no rights to dividends and dividend equivalents shall be granted in tandem with an Award of Options or Stock Appreciation Rights). Subject to the terms of the Plan, the Committee shall
determine the terms 

  
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and conditions of such Awards; provided, that (i) if the vesting conditions applicable to any such Award to an employee relate exclusively to the passage of time and continued employment,
such time period shall consist of not less than thirty-six (36) months, (ii) if the vesting of the award is contingent upon the achievement of any performance goals over a performance period, the performance period relating to such Award
shall be at least twelve (12) months. Shares or other securities delivered pursuant to a purchase right granted under this Section 9 shall be purchased for such consideration, which may be paid by such method or methods and in such form or
forms, including, without limitation, cash, Shares, other securities, other Awards, or other property, or any combination thereof, as the Committee shall determine, the value of which consideration, as established by the Committee, shall, except in
the case of Substitute Awards, not be less than the Fair Market Value of such Shares or other securities as of the date such purchase right is granted. To the extent that any Other Stock-Based Awards granted by the Committee are subject to Code
Section 409A as nonqualified deferred compensation, such Other Stock-Based Awards shall be subject to terms and conditions that comply with the requirements of Code Section 409A to avoid adverse tax consequences under Code
Section 409A. 
 Section 10. Effect Of Termination On Certain Awards. 

Except as otherwise provided by the Committee at the time an Option or Stock Appreciation Right is granted or in any amendment thereto, if
a Participant ceases to be employed by, or serve as a non-employee director of, the Company or any Affiliate, then: 
 (a) if
termination is for Cause, all Options and Stock Appreciation Rights held by the Participant shall be canceled as of the date of termination; 
 (b) if termination is voluntary or involuntary without Cause, the Participant may exercise each Option or Stock Appreciation Right held by the Participant within three months after such termination (but
not after the expiration date of such Award) to the extent such Award was exercisable pursuant to its terms at the date of termination; provided, however, if the Participant should die within three months after such termination, each Option
or Stock Appreciation Right held by the Participant may be exercised by the Participant’s estate, or by any person who acquires the right to exercise by reason of the Participant’s death, at any time within a period of one year after death
(but not after the expiration date of the Award) to the extent such Award was exercisable pursuant to its terms at the date of termination; 
 (c) if termination is (i) by reason of Retirement (or alternatively, in the case of a non-employee director, at a time when the Participant has served for five full years or more and has attained the
age of sixty), or (ii) by reason of a Disability, each Option or Stock Appreciation Right held by the Participant shall, at the date or Retirement or Disability, become exercisable to the extent of the total number of shares subject to the
Option or Stock Appreciation Right, irrespective of the extent to which such Award would otherwise have been exercisable pursuant to the terms of the Award at the date of Retirement or Disability, and shall otherwise remain in full force and effect
in accordance with its terms; 
 (d) if termination is by reason of the death of the Participant, each Option or Stock
Appreciation Right held by the Participant may be exercised by the Participant’s estate, or by any person who acquires the right to exercise such Award by reason of the Participant’s death, to the extent of the total number of shares
subject to the Award, irrespective of the extent to which such Award would have otherwise been exercisable pursuant to the terms of the Award at the date of death, and such Award shall otherwise remain in full force and effect in accordance with its
terms. 

  
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 Section 11. General Provisions Applicable To Awards. 

(a) Awards shall be granted for no cash consideration or for such minimal cash consideration as may be required by applicable law.

 (b) Awards may, in the discretion of the Committee, be granted either alone or in addition to or in tandem with any other
Award. Awards granted in addition to or in tandem with other Awards may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 

(c) Subject to the terms of the Plan, payments or transfers to be made by the Company upon the grant, exercise or payment of an Award may
be made in such form or forms as the Committee shall determine including, without limitation, cash, Shares, other securities, other Awards, or other property, or any combination thereof, and may be made in a single payment or transfer, in
installments, or on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include, without limitation, provisions for the payment or crediting of reasonable interest on
installment or deferred payments or the grant or crediting of dividend equivalents in respect of installment or deferred payments. Notwithstanding the foregoing, in no event shall the Company extend any loan to any Participant in connection with the
exercise of an Award; provided, however, that nothing contained herein shall prohibit the Company from maintaining or establishing any broker-assisted cashless exercise program. 

(d) Unless the Committee shall otherwise determine, no Award and no right under any Award shall be assignable, alienable, saleable or
transferable by a Participant otherwise than by will or by the laws of descent and distribution. In no event may an Award be transferred by a Participant for value. Each Award, and each right under any Award, shall be exercisable during the
Participant’s lifetime only by the Participant or, if permissible under applicable law, by the Participant’s guardian or legal representative. The provisions of this paragraph shall not apply to any Award which has been fully exercised,
earned or paid, as the case may be, and shall not preclude forfeiture of an Award in accordance with the terms thereof. 
 (e)
All certificates for Shares or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the
rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such Shares or other securities are then listed, and any applicable Federal or state securities laws, and the Committee may cause a
legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 
 (f) Every Award
(other than an Option or Stock Appreciation Right) to a member of the Executive Group shall, if the Committee intends that such Award should constitute “qualified performance-based compensation” for purposes of Section 162(m) of the
Code, include a pre-established formula, such that payment, retention or vesting of the Award is subject to the achievement during a performance period or periods, as determined by the Committee, of a level or levels, as determined by the Committee,
of one or more of the following performance measures: (i) Return on Net Assets, (ii) Revenue Growth, (iii) Return on Common Equity, (iv) Total Shareholder Return, (v) Earnings Per Share, (vi) Net Revenue Per Employee
(vii) Market Share, (viii) Return on Invested Capital, or (ix) Net Income. For any Award subject to any such pre-established formula, no more than 150,000 Shares can be paid in satisfaction of such Award to any Participant, subject to
adjustment as provided in Section 5(e). Notwithstanding any provision of this Plan to the contrary, the Committee shall not be authorized to increase the amount payable under any Award to which this Section 11(f) applies upon attainment of
such pre-established formula. 

  
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 (g) Unless specifically provided to the contrary in any Award Agreement, upon a Change in
Control, all Awards shall become fully vested and exercisable, and any restrictions applicable to any Award shall automatically lapse. Notwithstanding the foregoing, any Awards that are otherwise subject to Code Section 409A shall not be
distributed or payable upon a Change in Control unless the Change in Control otherwise meets the requirements for a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the Company
within the meaning of Code Section 409A and the regulations and other guidance promulgated thereunder; instead such Awards shall be distributed or payable in accordance with the Award’s applicable terms. 

(h) Non-employee Directors of the Company shall be entitled to defer the receipt of any Shares that may become issuable to them under any
Award in accordance with the terms of the 1996 Directors’ Deferral Plan, as the same may be hereinafter amended, or any other plan that may be established by the Company that provides for the deferred receipt of such Shares. 

(i) Employees of the Company shall be entitled to defer the receipt of any Shares that may become issuable to them under any Award in
accordance with the terms of the Deferred Compensation and Retirement Benefit Restoration Plan, as the same may be hereinafter amended, or any other plan that may be established by the Company that provides for the deferred receipt of such Shares.

 Section 12. Amendments And Termination. 
 (a) Except to the extent prohibited by applicable law and unless otherwise expressly provided in an Award Agreement or in the Plan, the Board may amend, alter, suspend, discontinue, or terminate the Plan
or any portion thereof at any time; provided, however, that no such amendment, alteration, suspension, discontinuation or termination shall be made without (i) shareholder approval (A) if the effect thereof is to increase the number
of Shares available for issuance under the Plan or to expand the class of persons eligible to participate in the Plan or (B) if such approval is necessary to comply with any tax or regulatory requirement for which or with which the Board deems
it necessary or desirable to qualify or comply or (ii) the consent of the affected Participant, if such action would adversely affect the rights of such Participant under any outstanding Award. Notwithstanding anything to the contrary herein,
the Committee may amend the Plan in such manner as may be necessary to enable the Plan to achieve its stated purposes in any jurisdiction outside the United States in a tax-efficient manner and in compliance with local rules and regulations. In all
events, no termination or amendment shall be made in a manner that is inconsistent with the requirements under Code Section 409A to allow for tax deferral. 
 (b) The Committee may waive any conditions or rights under, amend any terms of, or amend, alter, suspend, discontinue or terminate, any Award theretofore granted, prospectively or retroactively, without
the consent of any relevant Participant or holder or beneficiary of an Award; provided, however, that no such action shall impair the rights of any affected Participant or holder or beneficiary under any Award theretofore granted under the
Plan; and provided further that, except as provided in Section 5(e), no such action shall reduce the exercise price, grant price or purchase price of any Award established at the time of grant thereof; and provided further, that
the Committee’s authority under this Section 12(b) is limited in the case of Awards 

  
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subject to Section 11(f), as set forth in Section 11(f); and provided further, that the Committee may not act under this Section 12(b) in a way that is inconsistent with the
requirements under Code Section 409A to allow for tax deferral. In no event shall an outstanding Option or Stock Appreciation Right be cancelled in exchange for cash or, except as provided in Section 5(e), replaced with a new Option or
Stock Appreciation Right with a lower exercise price, without approval of the Company’s shareholders. 
 (c) Except as noted
in Section 11(f), the Committee shall be authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of events (including, without limitation, the events described in Section 5(e))
affecting the Company, or the financial statements of the Company, or of changes in applicable laws, regulations or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or
enlargement of the benefits or potential benefits intended to be made available under the Plan. 
 (d) Any provision of the Plan
or any Award Agreement to the contrary notwithstanding, in connection with a Business Combination, the Committee may cause any Award granted hereunder to be canceled in consideration of a cash payment or alternative Award made to the holder of such
canceled Award equal in value to the Fair Market Value of such canceled Award. 
 (e) The Committee may correct any defect,
supply any omission, or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem desirable to carry the Plan into effect or to otherwise comply with the requirements of Code Section 409A so as to avoid
adverse tax consequences under Code Section 409A. 
 Section 13. Miscellaneous.  

(a) No employee, Participant or other person shall have any claim to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of employees, Participants, or holders or beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to each recipient. 

(b) The Committee may delegate to one or more officers or managers of the Company, or a committee of such officers or managers, the
authority, subject to such terms and limitations as the Committee shall determine, to grant Awards to, or to cancel, modify, waive rights with respect to, alter, discontinue, suspend or terminate Awards held by, employees who are not officers or
directors of the Company for purposes of Section 16 of the Securities Exchange Act of 1934, as amended; provided, however, that any delegation to management shall conform with the requirements of the corporate law of New Jersey and with
the requirements, if any, of the New York Stock Exchange, in either case as in effect from time to time. 
 (c) The Company shall
be authorized to withhold from any Award granted or any payment due or transfer made under any Award or under the Plan or from any compensation or other amount owing to a Participant the amount (in cash, Shares, other securities, other Awards, or
other property) of withholding taxes due in respect of an Award, its exercise, or any payment or transfer under such Award or under the Plan and to take such other action (including, without limitation, providing for elective payment of such amounts
in cash, Shares, other securities, other Awards or other property by the Participant) as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes. 

  
 - 13 -

 (d) Nothing contained in the Plan shall prevent the Company from adopting or continuing in
effect other or additional compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases. 
 (e) The grant of an Award shall not be construed as giving a Participant the right to be retained in the employ of the Company or any Affiliate. Further, the Company or the applicable Affiliate may at any
time dismiss a Participant from employment, free from any liability, or any claim under the Plan, unless otherwise expressly provided in the Plan or in any Award Agreement or in any other agreement binding the parties. The receipt of any Award under
the Plan is not intended to confer any rights on the receiving Participant except as set forth in such Award. 
 (f) If any
provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction, or as to any person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee,
such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such
provision shall be stricken as to such jurisdiction, person or Award, and the remainder of the Plan and any such Award shall remain in full force and effect. 
 (g) Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company and a Participant or any other person. To the
extent that any person acquires a right to receive payments from the Company pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company. 

(h) No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash,
other securities or other property shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled, terminated or otherwise eliminated. 

Section 14. Effective Date Of Plan.  
 The Plan shall be effective as of the date of its approval by the stockholders of the Company. 
 Section 15. Term Of The Plan. 
 No Award shall be granted under the
Plan after the tenth anniversary of the effective date. However, unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award theretofore granted may extend beyond such date, and the authority of the Committee to
amend, alter, adjust, suspend, discontinue, or terminate any such Award, or to waive any conditions or rights under any such Award, and the authority of the Board to amend the Plan, shall extend beyond such date. 

  
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