Document:

Third Suuplemental Indenture dated as of June 26, 2009

 Exhibit 4.2 
 EXECUTION COPY 
 MAGELLAN MIDSTREAM PARTNERS, L.P. 
 as Issuer 
 and 
 U.S. BANK NATIONAL ASSOCIATION 
 as
Trustee 
 $300,000,000 
 6.55% SENIOR NOTES DUE 2019 
 THIRD SUPPLEMENTAL INDENTURE 
 Dated as of June 26, 2009 

 TABLE OF CONTENTS 
  

					
	ARTICLE I
	ESTABLISHMENT OF NEW SERIES
			
	Section 1.01	  	Establishment of New Series	  	1
	
	ARTICLE II
	DEFINITIONS AND INCORPORATION BY REFERENCE
			
	Section 2.01	  	Definitions	  	2
	
	ARTICLE III
	THE NOTES
			
	Section 3.01	  	Form	  	4
	Section 3.02	  	Issuance of Additional Notes	  	4
	Section 3.03	  	Transfer of Notes	  	5
	Section 3.04	  	Restrictive Legend	  	5
	
	ARTICLE IV
	REDEMPTION
			
	Section 4.01	  	Optional Redemption	  	5
	Section 4.02	  	Mandatory Redemption	  	5
	
	ARTICLE V
	COVENANT SUPPLEMENTS AND AMENDMENTS
			
	Section 5.01	  	Covenants of the Partnership	  	5
	
	ARTICLE VI
	ADDITIONAL EVENT OF DEFAULTS
			
	Section 6.01	  	Events of Default	  	9
	
	ARTICLE VII
	MISCELLANEOUS
			
	Section 7.01	  	Integral Part	  	9
	Section 7.02	  	Adoption, Ratification and Confirmation	  	9
	Section 7.03	  	Counterparts	  	9
	Section 7.04	  	Governing Law	  	10
	Section 7.05	  	Trustee Makes No Representation	  	10
			
	EXHIBIT A:	  	 Form of Note
	  	
			
	EXHIBIT B:	  	 Form of Supplemental Indenture
	  	

  

 - i - 

 THIRD SUPPLEMENTAL INDENTURE dated as of June 26, 2009 (this “Third Supplemental
Indenture”) between Magellan Midstream Partners, L.P., a Delaware limited partnership (the “Partnership” or the “Issuer”), and U.S. Bank National Association, a national banking
association, as trustee (the “Trustee”). 
 W I T N E S S E T H: 
 WHEREAS, the Issuer has heretofore entered into an Indenture, dated as of April 19, 2007 (the “Original Indenture”), with
U.S. Bank National Association, as trustee; 
 WHEREAS, the Original Indenture, as supplemented pursuant to this Third Supplemental
Indenture, is herein called the “Indenture”; 
 WHEREAS, the Issuer proposes to create under the Indenture a new
series of Debt Securities; 
 WHEREAS, the Issuer has entered into the First Supplemental Indenture dated as of April 19, 2007, in order
to create an initial series of Debt Securities, the 6.400% Senior Notes due 2037, and also has entered into the Second Supplemental Indenture dated as of July 14, 2008, in order to create a second series of Debt Securities, the 6.400% Senior
Notes Due 2018; 
 WHEREAS, additional Debt Securities of other series hereafter established, except as may be limited in the Original
Indenture as at the time supplemented and modified, may be issued from time to time pursuant to the Original Indenture as at the time supplemented and modified by a supplemental indenture; and 
 WHEREAS, all conditions necessary to authorize the execution and delivery of this Third Supplemental Indenture and to make it a valid and binding
obligation of the Issuer have been done or performed; 
 NOW, THEREFORE, in consideration of the agreements and obligations set forth herein
and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I 
 ESTABLISHMENT OF NEW SERIES 
 Section 1.01 Establishment of New Series. 
 (a) There is hereby
established a new series of Notes to be issued under the Indenture, to be designated as the Issuer’s 6.55% Senior Notes due 2019 (the “Notes”). 
 (b) There are to be authenticated and delivered $300,000,000 principal amount of Notes on the Issue Date, and from time to time thereafter
there may be authenticated and delivered an unlimited principal amount of Additional Notes. 
  

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 (c) The Notes shall be issued initially in the form of one or more Global Securities in
substantially the form set out in Exhibit A hereto. The Depositary with respect to the Notes shall be The Depository Trust Company. 
 (d) Initially, there shall be no Subsidiary Guarantors. Each Note shall be dated the date of authentication thereof and shall bear interest as provided in paragraph 1 of the form of Note in Exhibit A hereto. 
 (e) If and to the extent that the provisions of the Original Indenture are duplicative of, or in contradiction with, the provisions of
this Third Supplemental Indenture, the provisions of this Third Supplemental Indenture shall govern. 
 ARTICLE II 
 DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 2.01 Definitions. All capitalized terms used herein and not otherwise defined below shall have the meanings ascribed thereto in the Original Indenture. The following are additional definitions used in this Third
Supplemental Indenture: 
 “Additional Notes” has the meaning assigned to it in Section 3.02 hereof. 

“Consolidated Net Tangible Assets” means, at any date of determination, the total amount of assets after deducting therefrom
(1) all current liabilities (excluding (A) any current liabilities that by their terms are extendible or renewable at the option of the obligor thereon to a time more than 12 months after the time as of which the amount thereof is being
computed, and (B) current maturities of long-term debt), and (2) the amount (net of any applicable reserves) of all goodwill, trade names, trademarks, patents and other like intangible assets, all as set forth on the consolidated balance
sheet of the Partnership and its consolidated subsidiaries for the Partnership’s most recently completed fiscal quarter, prepared in accordance with GAAP. 
 “Debt” means any obligation created or assumed by any Person for the repayment of money borrowed, any purchase money obligation created or assumed by such Person and any guarantee of the
foregoing. 
 “Funded Debt” means all Debt maturing one year or more from the date of the creation thereof, all Debt
directly or indirectly renewable or extendible, at the option of the debtor, by its terms or by the terms of any instrument or agreement relating thereto, to a date one year or more from the date of the creation thereof, and all Debt under a
revolving credit or similar agreement obligating the lender or lenders to extend credit over a period of one year or more. 
 “Issue Date” means the date on which the Notes are initially issued. 
 “Lien”
means, as to any Person, any mortgage, lien, pledge, security interest or other encumbrance in or on, or adverse interest or title of any vendor, lessor, lender or other secured party to or of such Person under conditional sale or other title
retention agreement or capital lease with respect to, any property or asset of such Person. 
 “Notes” has the
meaning assigned to it in Section 1.01(a) hereof. 
  

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 “Permitted Liens” means (1) Liens upon rights-of-way for pipeline purposes;
(2) any statutory or governmental Lien, mechanics’, materialmen’s, carriers’ or similar Lien incurred in the ordinary course of business which is not yet due or which is being contested in good faith by appropriate proceedings
and any undetermined Lien which is incidental to construction; (3) the right reserved to, or vested in, any municipality or public authority by the terms of any right, power, franchise, grant, license, permit or by any provision of law, to
purchase or recapture or to designate a purchaser of, any property or assets; (4) Liens for taxes and assessments which are (A) for the then current year, (B) not at the time delinquent, or (C) delinquent but the validity of
which is being contested at the time by the Partnership or any Restricted Subsidiary in good faith; (5) Liens arising under, or to secure performance of, leases, other than capital leases; (6) any Lien upon, or deposits of, any assets in
favor of any surety company or clerk of court for the purpose of obtaining indemnity or stay of judicial proceedings; (7) any Lien upon property or assets acquired or sold by the Partnership or any Restricted Subsidiary resulting from the
exercise of any rights arising out of defaults on receivables; (8) any Lien incurred in the ordinary course of business in connection with workmen’s compensation, unemployment insurance, temporary disability, social security, retiree
health or similar laws or regulations or to secure obligations imposed by statute or governmental regulations; (9) any Lien in favor of the United States of America or any state thereof, or any other country, or any political subdivision of any
of the foregoing, to secure partial, progress, advance or other payments pursuant to any contract or statute, or any Lien securing industrial development, pollution control or similar revenue bonds; or (10) any easements, exceptions or
reservations in any property or assets of the Partnership or any Restricted Subsidiary granted or reserved for the purpose of pipelines, roads, the removal of oil, gas, coal or other minerals, and other like purposes, or for the joint or common use
of real property, facilities and equipment, which are incidental to, and do not materially interfere with, the ordinary conduct of its business or the business of the Partnership and its Subsidiaries, taken as a whole. 
 “Person” means any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock
company, trust, other entity, unincorporated organization or government or other agency or political subdivision thereof. 
 “Principal Property” means any pipeline, terminal or terminal facility property or asset owned or leased by the Partnership or any Subsidiary, including any related property or asset employed in the transportation
(including vehicles that generate transportation revenues), distribution, terminalling, gathering, treating, processing, marketing or storage of crude oil or refined petroleum products, natural gas, natural gas liquids, fuel additives,
petrochemicals or ammonia, except (1) any property or asset consisting of inventories, furniture, office fixtures and equipment (including data processing equipment), vehicles and equipment used on, or useful with, vehicles (but excluding
vehicles that generate transportation revenues as provided above), and (2) any such property or asset, plant or terminal which, in the opinion of the Board of Directors, is not material in relation to the activities of the Partnership and its
Subsidiaries, taken as a whole. 
 “Ratings Affirmation” means, with respect to any particular action or proposed
action, each of Standard & Poor’s Rating Services and Moody’s Investors Service, Inc. or, if either or both of such ratings agencies do not then rate the Notes, such other nationally recognized statistical rating organization (as
defined in the rules and regulations of the SEC) then having issued long-term debt ratings for the Notes, affirms that such long-term debt ratings will not be lowered as a result of the taking of such action or proposed action. 
  

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 “Restricted Subsidiary” means any Subsidiary of the Partnership that owns or
leases, directly or indirectly through ownership of or an ownership interest in another Subsidiary, any Principal Property. 
 “Sale-Leaseback Transaction” means the sale or transfer by the Partnership or any Restricted Subsidiary of any Principal Property to a Person (other than the Partnership or a Restricted Subsidiary) and the taking
back by the Partnership or any Restricted Subsidiary, as the case may be, of a lease of such Principal Property. 
 “Subsidiary” means, with respect to any Person, 
 (1) any other Person of which more than 50% of the total
voting power of capital interests (without regard to any contingency to vote in the election of directors, managers, trustees, or equivalent persons), at the time of such determination, is owned or controlled, directly or indirectly, by such Person
or one or more of the Subsidiaries of such Person; 
 (2) in the case of a partnership, any Person of which more than 50% of the
partners’ capital interests (considering all partners’ capital interests as a single class), at the time of such determination, is owned or controlled, directly or indirectly, by such Person or one or more of the Subsidiaries of such
Person; or 
 (3) any other Person in which such Person or one or more of the Subsidiaries of such Person have the power to control, by
contract or otherwise, the board of directors, managers, trustees or equivalent governing body of, or otherwise control, such other Person. 
 ARTICLE III 
 THE NOTES 
 Section 3.01 Form. The Notes shall be issued in the form of one or more Global Securities, and the Notes and Trustee’s certificate of authentication shall be substantially in the form of
Exhibit A hereto, the terms of which are incorporated in and made a part of this Third Supplemental Indenture, and the Issuer and the Trustee, by their execution and delivery of this Third Supplemental Indenture, expressly agree to such terms and
provisions and to be bound thereby. 
 Section 3.02 Issuance of Additional Notes. The Issuer may, from time to time, issue
an unlimited amount of additional Notes (“Additional Notes”) under the Indenture, which shall be issued in the same form as the Notes issued on the Issue Date and which shall have identical terms as the Notes issued on the
Issue Date other than with respect to the issue date, issue price and first payment of interest. The Notes issued on the Issue Date shall be limited in aggregate principal amount to $300,000,000. The Notes issued on the Issue Date and any Additional
Notes subsequently issued shall be treated as a single series for purposes of giving of notices, consents, waivers, amendments and taking any other action permitted under the Indenture and for purposes of interest accrual and redemptions.

  

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 Section 3.03 Transfer of Notes. When Notes are presented to the Registrar with the
request to register the transfer of such Notes or exchange such Notes for an equal principal amount of Notes of other authorized denominations, the Registrar shall register the transfer or make the exchange in accordance with Article II of the
Original Indenture. 
 Section 3.04 Restrictive Legend. Each security certificate evidencing the Global Securities shall
bear a legend substantially in the form set forth in Section 2.15(a) of the Original Indenture. 
 ARTICLE IV 
 REDEMPTION 
 Section 4.01
Optional Redemption. 
 (a) At its option, the Issuer may choose to redeem all or any portion of the Notes, at
once or from time to time. 
 (b) To redeem the Notes, the Issuer must pay a redemption price in an amount determined in
accordance with the provisions of paragraph number 5 of the form of Note in Exhibit A hereto, plus accrued and unpaid interest, if any, to the Redemption Date (subject to the right of Holders on the relevant record date to receive interest due on
the relevant interest payment date). 
 (c) Any redemption pursuant to this Section 4.01 shall be made pursuant to the
provisions of Sections 3.01 through 3.03 of the Original Indenture. The actual redemption price, calculated as provided in paragraph number 5 of the form of Note in Exhibit A hereto, shall be certified in writing to the Issuer and the Trustee by the
Independent Investment Banker (as defined in such paragraph 5) no later than two Business Days prior to each Redemption Date. 
 Section 4.02 Mandatory Redemption. The Issuer shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes and shall have no obligation to repurchase any Notes at the option of the
Holders. 
 ARTICLE V 
 COVENANT SUPPLEMENTS AND AMENDMENTS 
 Section 5.01 Covenants of the Partnership. 
 (a) Article IV of the Original Indenture is hereby supplemented, but only in relation to the Notes, by the addition of the following new
Sections at the end of Article IV: 
 “Section 4.12. Subsidiary Guarantees. If any Subsidiary of the
Partnership that is not then a Subsidiary Guarantor becomes a guarantor or co-obligor of any Funded Debt of the Partnership, in either case after the Issue Date, then the Partnership shall cause such Subsidiary to promptly execute and deliver a
supplemental Indenture, substantially in the form of Exhibit B hereto, providing for the Guarantee of the payment of the Notes pursuant to Article XIV hereof. 
  

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 Section 4.13. Limitations on Liens. The Partnership will not, nor will it
permit any Subsidiary to, create, assume, incur or suffer to exist any Lien upon any Principal Property or upon any capital stock of any Restricted Subsidiary, whether owned or leased on the date of this Indenture or thereafter acquired, to secure
any Debt of the Partnership or any other Person (other than the Debt Securities issued hereunder), without in any such case making effective provision whereby all of the Debt Securities Outstanding hereunder shall be secured equally and ratably
with, or prior to, such Debt so long as such Debt shall be so secured. This restriction shall not apply to or prevent the creation or existence of: 
 (a) any Lien on any property or assets of the Partnership or any Restricted Subsidiary in existence on the Issue Date or created pursuant to an “after-acquired property” clause or similar term in existence
on the Issue Date in any mortgage, pledge agreement, security agreement or other similar instrument applicable to the Partnership or any Restricted Subsidiary and in existence on the Issue Date; 
 (b) any Lien on any property or assets created at the time of acquisition of such property or assets by the Partnership or any Restricted
Subsidiary or within one year after such time to secure all or a portion of the purchase price for such property or assets or Debt incurred to finance such purchase price, whether such Debt was incurred prior to, at the time of or within one year of
such acquisition; 
 (c) any Lien on any property or assets existing thereon at the time of the acquisition thereof by the
Partnership or any Restricted Subsidiary (whether or not the obligations secured thereby are assumed by the Partnership or any Restricted Subsidiary), provided that such Lien only encumbers the property or assets so acquired; 
 (d) any Lien on any property or assets of a Person existing thereon at the time such Person becomes a Restricted Subsidiary by
acquisition, merger or otherwise, provided that such Lien is not incurred in anticipation of such Person becoming a Restricted Subsidiary; 
 (e) any Lien on any property or assets to secure all or part of the cost of construction, development, repair or improvements thereon or to secure Debt incurred prior to, at the time of, or within one year after
completion of such construction, development, repair or improvements or the commencement of full operations thereof (whichever is later), to provide funds for any such purpose; 
 (f) any Lien in favor of the Partnership or any Restricted Subsidiary; 
 (g) any Lien created or assumed by the Partnership or any Restricted Subsidiary in connection with the issuance of Debt the interest on
which is excludable from gross income of the holder of such Debt pursuant to the Internal Revenue Code of 1986, as amended, or any successor statute, for the purpose of financing, in whole or in part, the acquisition or construction of property or
assets to be used by the Partnership or any Subsidiary; 
  

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 (h) Permitted Liens; 
 (i) any Lien on any additions, improvements, replacements, repairs, fixtures, appurtenances or component parts thereof, attaching to or
required to be attached to property or assets pursuant to the terms of any mortgage, pledge agreement, security agreement or other similar instrument, creating a Lien upon such property or assets permitted by Clauses (a) through (h), inclusive,
of this Section; or 
 (j) any extension, renewal, refinancing, refunding or replacement (or successive extensions, renewals,
refinancings, refundings or replacements) of any Lien, in whole or in part, that is referred to in Clauses (a) through (i), inclusive, of this Section, or of any Debt secured thereby; provided, however, that the principal amount of Debt secured
thereby shall not exceed the greater of (1) the principal amount of Debt so secured at the time of such extension, renewal, refinancing, refunding or replacement (plus the aggregate amount of premiums, other payments, costs and expenses
required to be paid or incurred in connection with such extension, renewal, refinancing, refunding or replacement) and (2) the maximum committed principal amount of Debt so secured at such time; provided further, however, that such extension,
renewal, refinancing, refunding or replacement shall be limited to all or a part of the property or assets (including improvements, alterations and repairs on such property or assets) subject to the Lien so extended, renewed, refinanced, refunded or
replaced (plus improvements, alterations and repairs on such property or assets). 
 Notwithstanding the foregoing provisions
of this Section, the Partnership may, and may permit any Subsidiary to, create, assume, incur or suffer to exist any Lien upon any Principal Property or capital stock of a Restricted Subsidiary to secure Debt of the Partnership or any other Person
(other than the Debt Securities) that is not excepted by Clauses (a) through (j), inclusive, of this Section without securing the Debt Securities issued hereunder, provided that the aggregate principal amount of all Debt then outstanding
secured by such Lien and all other Liens not excepted by Clauses (a) through (j), inclusive, of this Section, together with all net sale proceeds from Sale-Leaseback Transactions (excluding Sale-Leaseback Transactions permitted by Clauses
(a) through (d), inclusive, of Section 4.14), does not exceed at any one time 15% of Consolidated Net Tangible Assets. 
 Section 4.14. Restriction of Sale-Leaseback Transaction. The Partnership will not, nor will it permit any Restricted Subsidiary to, engage in a Sale-Leaseback Transaction, unless: 
 (a) the Sale-Leaseback Transaction occurs within one year from the date of acquisition of the Principal Property subject thereto or the
date of the completion of construction or commencement of full operations on such Principal Property, whichever is later; 
  

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 (b) the Sale-Leaseback Transaction involves a lease for a period, including renewals, of
not more than three years; 
 (c) the Partnership or such Restricted Subsidiary would be entitled under Section 4.13 to
incur Debt secured by a Lien on the Principal Property subject to the Sale-Leaseback Transaction in a principal amount equal to or exceeding the net sale proceeds from such Sale-Leaseback Transaction without equally and ratably securing the Debt
Securities; or 
 (d) the Partnership or such Restricted Subsidiary, within a one-year period after such Sale-Leaseback
Transaction, applies or causes to be applied an amount not less than the net sale proceeds from such Sale-Leaseback Transaction to (1) the prepayment, repayment, redemption or retirement of any unsubordinated Funded Debt of the Partnership or
any Funded Debt of a Subsidiary of the Partnership, or (2) investment in another Principal Property. 
 Notwithstanding
the foregoing provisions of this Section, the Partnership may, and may permit any Restricted Subsidiary to, effect any Sale-Leaseback Transaction that is not excepted by Clauses (a) through (d), inclusive, of this Section, provided that the net
sale proceeds from such Sale-Leaseback Transaction, together with the aggregate principal amount of then outstanding Debt (other than the Debt Securities) secured by Liens upon Principal Properties not excepted by Clauses (a) through (j),
inclusive, of Section 4.13, do not exceed at any one time 15% of Consolidated Net Tangible Assets. 
 Section 4.15.
Compliance with and Modification of Organizational Documents. The Partnership shall comply with the terms and provisions of Sections 2.9, 7.9 and 12.9 of its Fourth Amended and Restated Agreement of Limited Partnership, dated as of
April 13, 2005, as amended by that certain First Amendment to the Fourth Amended and Restated Agreement of Limited Partnership, dated as of February 15, 2006, that certain Second Amendment to the Fourth Amended and Restated Agreement of
Limited Partnership, effective as of February 9, 2006, that certain Third Amendment to the Fourth Amended and Restated Agreement of Limited Partnership, dated as of July 27, 2007, and that certain Fourth Amendment to the Fourth Amended and
Restated Agreement of Limited Partnership, dated April 15, 2008 and effective as of January 1, 2007, and shall not amend, supplement or otherwise modify (pursuant to a waiver or otherwise) any of such Sections in a manner materially
adverse to the interests of the Holders of the Notes unless both (i) Magellan Midstream Holdings, L.P. no longer owns an interest in the General Partner, and (ii) the Partnership obtains a Ratings Affirmation in connection with any such
amendment, supplement, modification or failure to comply.” 
 (b) Section 14.04 of the Original Indenture is hereby
amended, but only in relation to the Notes, by substituting the words “Funded Debt of the Partnership” for the words “Debt of the Partnership” in paragraph (a) thereof. 
  

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 ARTICLE VI 
 ADDITIONAL EVENT OF DEFAULTS 
 Section 6.01 Events of Default. With respect to the
Notes only, the following additional Events of Default are hereby added to Section 6.01(h) of the Original Indenture: 
 “(h-1) default by the Partnership or any of its Subsidiaries in the payment at the Stated Maturity, after the expiration of any applicable grace period, of principal of, premium, if any, or interest on any Debt then outstanding having
a principal amount in excess of $50.0 million or acceleration of any Debt having a principal amount in excess of such amount so that it becomes due and payable prior to its Stated Maturity and such acceleration is not rescinded within 30 days after
the date on which written notice specifying such default shall have been given to the Partnership by the Trustee or to the Partnership and the Trustee by the Holders of at least 25% in aggregate principal amount of the Notes at the time Outstanding;

 (h-2) a final judgment or order for the payment of money in excess of $50.0 million (net of applicable insurance coverage)
having been rendered against the Partnership or any Subsidiary and such judgment or order shall continue unsatisfied and unstayed for a period of 30 days; and 
 (h-3) the failure of the General Partner to comply with the terms and provisions of Sections 2.08 and 7.10(c) of its Second Amended and
Restated Limited Liability Company Agreement, dated October 20, 2005, as amended by that certain First Amendment to Second Amended and Restated Limited Liability Company Agreement, dated July 31, 2007, or the amendment, supplementation or
other modification of (pursuant to a waiver or otherwise) either of such Sections in a manner materially adverse to the interests of the Holders of the Notes unless both (i) Magellan Midstream Holdings, L.P. no longer owns an interest in the
General Partner, and (ii) the Partnership obtains a Ratings Affirmation in connection with any such amendment or modification or failure to comply.” 
 ARTICLE VII 
 MISCELLANEOUS 
 Section 7.01 Integral Part. This Third Supplemental Indenture constitutes an integral part of the Indenture. 
 Section 7.02 Adoption, Ratification and Confirmation. The Original Indenture, as supplemented and amended by this Third Supplemental
Indenture, is in all respects hereby adopted, ratified and confirmed. 
 Section 7.03 Counterparts. This Third
Supplemental Indenture may be executed in any number of counterparts, each of which when so executed shall be deemed an original; and all such counterparts shall together constitute but one and the same instrument. 
  

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 Section 7.04 Governing Law. THIS THIRD SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 Section 7.05 Trustee Makes No
Representation. The Trustee makes no representation as to the validity or sufficiency of this Third Supplemental Indenture. 
 [Signatures on following page] 
  

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 SIGNATURES 
  

					
	ISSUER:
	
	MAGELLAN MIDSTREAM PARTNERS, L.P.
		
	By:	 	Magellan GP, LLC, its General Partner
			
		 	By:	 	 /s/    Don R. Wellendorf

		 		 	Don R. Wellendorf
		 		 	Chief Executive Officer and
		 		 	President of Magellan GP, LLC
	
	TRUSTEE:
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as Trustee

		
	By:	 	 /s/    George Hogan

		 	George Hogan
		 	Vice President

 Signature Page to Third Supplemental Indenture 

 EXHIBIT A 
 (Form of Face of Note) 
 No.                
 CUSIP 559080AE6 
 $300,000,000
 ISIN US559080AE69 
 MAGELLAN MIDSTREAM PARTNERS, L.P. 
 6.55%
Senior Note due 2019 
 Magellan Midstream Partners, L.P., a Delaware limited partnership, promises to pay to
                                , or registered assigns, the principal sum of
                     Dollars [or such greater or lesser amount as may be endorsed on the Schedule attached hereto]1 on July 15, 2019. 
  

			
	Interest Payment Dates:	  	January 15 and July 15
		
	Record Dates:	  	January 1 and July 1

  

					
	MAGELLAN MIDSTREAM PARTNERS, L.P.
		
	By:    	 	Magellan GP, LLC, its General Partner
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION,
	As Trustee
		
	By:	 	  

		 	            Authorized Signatory
		
	Dated:	 	  

  
  

	1
	 To be included only if the Note is issued in global form. 

  

 Exhibit A-1 

 (Form of Back of Note) 
 6.55% Senior Note due 2019 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR
THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO HEREIN.]2 
 Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 1. Interest. Magellan Midstream Partners, L.P., a Delaware limited partnership (the “Partnership” or the “Issuer”), promises to pay interest on the principal amount of this Note at
6.55% per annum from June 26, 2009 until maturity. The Issuer shall pay interest semi-annually on January 15 and July 15 of each such year, or if any such day is not a Business Day, on the next succeeding Business Day (each an
“Interest Payment Date”). Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance, June 26, 2009; provided that if there is
no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment
Date; provided, further, that the first Interest Payment Date shall be January 15, 2010. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time
to time on demand at the same rate; and it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on
demand at the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 
  
  

	2
	 To be included only if the Note is issued in global form. 

  

 Exhibit A-2 

 2. Method of Payment. The Issuer shall pay interest on the Notes (except Defaulted Interest) to
the Persons who are registered Holders of Notes at the close of business on the January 1 or July 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment
Date, except as provided in Section 2.17 of the Original Indenture with respect to Defaulted Interest, and the Issuer shall pay principal (and premium, if any) of the Notes upon surrender thereof to the Trustee or a paying agent on or after the
Stated Maturity thereof. The Notes shall be payable as to principal, premium, if any, and interest at the office or agency of the Trustee maintained for such purpose in New York, New York (which initially is 100 Wall Street, Suite 1600, New York,
New York 10005), or, at the option of the Issuer, payment of interest may be made by check mailed to the Holders at their addresses set forth in the Debt Security Register, and provided that payment by wire transfer of immediately available funds
shall be required with respect to principal of, and interest and premium, if any, on, (a) each Global Security and (b) all other Notes aggregating at least $1,000,000 in principal amount the Holder of which shall have provided wire
transfer instructions to the Issuer or the paying agent on or prior to the applicable record date. Such payment shall be 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. 
 3. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee under the Indenture, shall act
as paying agent and Registrar. The Issuer may change any paying agent or Registrar without notice to any Holder. The Partnership may act in any such capacity. 
 4. Indenture. The Issuer issued the Notes under an Indenture dated as of April 19, 2007 (the “Original Indenture”), as supplemented by the Third Supplemental Indenture, dated as of
June 26, 2009 (the “Third Supplemental Indenture,” and, together with the Original Indenture the “Indenture”) between the Issuer and the Trustee. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for
a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are the obligation of the Issuer, initially in
aggregate principal amount of $300.0 million. The Issuer may issue an unlimited aggregate principal amount of Additional Notes under the Indenture. Any such Additional Notes that are actually issued shall be treated as issued and outstanding Notes
(and as the same series (with identical terms other than with respect to the issue date, issue price and first payment of interest) as the initial Notes for the purposes indicated in Section 3.02 of the Third Supplemental Indenture). Initially,
the Notes are not guaranteed, but in the future they may be guaranteed by one or more Subsidiary Guarantors on the conditions and subject to the terms provided in Section 4.12 and Article XIV of the Indenture. 
 5. Optional Redemption. (a) At its option, the Issuer may choose to redeem all or any portion of the Notes, at once or from time to time.

 (b) To redeem the Notes, the Issuer must pay a redemption price equal to the greater of (i) 100% of the principal amount of the Notes
to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at 
  

 Exhibit A-3 

 
the Treasury Rate (as defined below) plus 50 basis points, plus, in either case, accrued and unpaid interest, if any, to the Redemption Date (subject to the
right of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date). 
 For purposes of determining
the redemption price, the following definitions shall apply: 
 “Comparable Treasury Issue” means the United States
Treasury security or securities selected by the Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of the Notes to be redeemed. 
 “Comparable Treasury Price” means, for any Redemption Date, (1) the average of four Reference Treasury Dealer Quotations for
such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such
quotations. 
 “Independent Investment Banker” means J.P. Morgan Securities Inc., Banc of America Securities LLC or
SunTrust Robinson Humphrey, Inc., or any of their respective successor firms, or if each such firm is unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the
Trustee after consultation with the Partnership. 
 “Reference Treasury Dealer” means each of J.P. Morgan Securities
Inc., Banc of America Securities LLC and SunTrust Robinson Humphrey, Inc., plus two other U.S. government securities dealers (in each case, or its affiliates and successors) selected by the Trustee, provided that if any of the Reference Treasury
Dealers resigns, its successor dealer shall be a primary U.S. government securities dealer selected by the Trustee. 
 “Reference
Treasury Dealer Quotations” means, for each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Treasury Rate” means, with respect to any Redemption Date, (1) the yield, under the heading which represents the average
for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and
which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity
is within three months before or after the remaining term of the Notes to be redeemed, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be
interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest 
  

 Exhibit A-4 

 
month) or (2) if such release (or any successor release) is not published during the week in which the calculation date falls (or in the immediately
preceding week if the calculation date falls on any day prior to the usual publication date for such release) or does not contain such yields, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be calculated on the third Business Day preceding
the Redemption Date. Any weekly average yields calculated by interpolation or extrapolation will be rounded to the nearest 1/100th of 1%, with any figure of 1/200th of 1% or above being rounded upward. 
 6. Mandatory Redemption. The Issuer shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes or to
repurchase them at the option of the Holders. 
 7. Notice of Redemption. Notice of redemption shall be mailed by first class mail at
least 30 days but not more than 60 days before the Redemption Date to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000,
unless all of the Notes held by a Holder are to be redeemed. On and after the Redemption Date interest shall cease to accrue on Notes or portions thereof called for redemption and with respect to which the redemption price has been paid. 

8. Denominations, Transfer, Exchange. The Notes are in registered form without coupons in minimum denominations of $2,000 and integral
multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and
transfer documents, and the Issuer may require a Holder to pay any taxes or other governmental charges imposed in relation thereto. 
 9.
Persons Deemed Owners. The registered Holder of a Note shall be treated as its owner for all purposes. 
 10. Amendment, Supplement
and Waiver. Subject to certain exceptions, the Indenture may be amended or supplemented with the consent of the Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes, and any existing default or
compliance with any provision of the Indenture relating to the Notes may be waived with the consent of the Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes. Without the consent of any Holder of a Note,
the Indenture may be amended or supplemented for any of the purposes set forth in Section 9.01 of the Indenture, including to provide for the assumption of the Issuer’s obligations to Holders of the Notes in case of a merger or
consolidation of the Issuer or sale of all or substantially all of the Issuer’s assets, to add to the covenants of the Issuer or any Subsidiary Guarantor, to cure any ambiguity or omission or to correct any defect or inconsistency, to permit
the qualification of the Indenture under the TIA, to add or release Subsidiary Guarantors pursuant to the terms of the Indenture, to make any change that does not adversely affect the rights under the Indenture of any Holder of the Notes, to add to,
change or eliminate any of the provisions of the Indenture in respect of one or more series of Debt Securities in certain circumstances, to evidence or provide for the acceptance of appointment under the Indenture of a successor or separate Trustee
or to establish the form or terms of any other series of Debt Securities. 
  

 Exhibit A-5 

 11. Defaults and Remedies. Events of Default with respect to the Notes include: (i) default
for 30 days in the payment when due of interest on the Notes; (ii) default in payment when due of principal of or premium, if any, on the Notes when due at Stated Maturity, upon redemption or otherwise; (iii) failure by the Partnership or
any Subsidiary Guarantor to comply for 60 days after notice with any of its other covenants or agreements in the Indenture relating to the Notes; (iv) certain events of bankruptcy, insolvency or reorganization with respect to the Issuer or, if
and so long as the Notes are guaranteed by a Subsidiary Guarantor, such Subsidiary Guarantor; (v) any Guarantee ceasing to be in full force and effect or held in any judicial proceeding to be null and void, or any Subsidiary Guarantor denying
or disaffirming its obligations under the Indenture or its Guarantee; (vi) default by the Partnership or any of its Subsidiaries in the payment at the Stated Maturity, after the expiration of any applicable grace period, of principal of,
premium, if any, or interest on any Debt then outstanding having a principal amount in excess of $50.0 million, or acceleration of any Debt having a principal amount in excess of such amount so that it becomes due and payable prior to its Stated
Maturity and such acceleration is not rescinded within 30 days after notice; (vii) a final judgment or order for the payment of money in excess of $50.0 million (net of applicable insurance coverage) having been rendered against the Partnership
or any Subsidiary and such judgment or order continues unsatisfied and unstayed for a period of 30 days and (viii) the failure of the General Partner to comply with certain separateness and bankruptcy related provisions of its limited liability
company agreement or the amendment or modification of such provisions. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then Outstanding Notes may declare all the Notes
to be due and payable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all Outstanding Notes shall become due and payable without further action or notice. Holders may not
enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes may direct the Trustee in its exercise of any
trust or power. The Trustee may withhold from Holders of the Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if the Trustee determines in good faith that withholding notice
is in the Holders’ interests. The Holders of not less than a majority in aggregate principal amount of the Notes then Outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any past Default or Event of
Default and its consequences under the Indenture except a Default or Event of Default in the payment of interest on, the principal of, or premium, if any, on, the Notes or an Event of Default relating to a provision of the Indenture that cannot be
amended without the consent of each Holder affected thereby. The Partnership is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Partnership is required within 30 days after the occurrence of
any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default and certain additional information. 
 12. Trustee Dealings with Issuer. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuer or its Affiliates, and may otherwise deal
with the Issuer or its Affiliates, as if it were not the Trustee. 
  

 Exhibit A-6 

 13. Authentication. This Note shall not be valid until authenticated by the manual signature of
the Trustee or an authenticating agent. 
 14. Abbreviations. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

15. CUSIP and ISIN Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer
has caused CUSIP and corresponding ISIN numbers to be printed on the Notes, and the Trustee may use CUSIP and corresponding ISIN numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such
numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
 The Issuer shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 
 Magellan Midstream Partners, L.P. 
 P.O. Box 22186 
 Tulsa, Oklahoma 74121-2186 
 Attention:
General Counsel 
  

 Exhibit A-7 

 Assignment Form 
 To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to 
  
  
  
 (Insert assignee’s soc. sec. or tax I.D. no.) 
  
  
  
  
  
  
  
  
  
 (Print or type assignee’s name, address and
zip code) 
 and irrevocably appoint 
  
  
  
 agent to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 
  

					
	Date:	  	  

  

			
	 Your Signature:
	 	  

	
	 (Sign exactly as your name appears on the face of this Note)

			
	Signature Guarantee: 	 	  

 (Signature must be guaranteed by a financial institution that is a member of the Securities
Transfer Agent Medallion Program (“STAMP”), the Stock Exchange Medallion Program (“SEMP”), the New York Stock Exchange, Inc. Medallion Signature Program (“MSP”) or such other
signature guarantee program as may be determined by the Registrar in addition to, or in substitution for, STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934, as amended.) 
  

 Exhibit A-8 

 SCHEDULE OF INCREASES OR DECREASES IN THE GLOBAL NOTE3 
 The original principal amount of this Global Note is $300,000,000. The following increases or decreases in this Global Note have been made: 
  

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

  
  
  
  

	3
	 To be included only if the Note is issued in global form. 

  

 Exhibit A-9 

 EXHIBIT B 
 FORM OF SUPPLEMENTAL INDENTURE 
 SUPPLEMENTAL INDENTURE (this “Supplemental
Indenture”), dated as of                     , among Magellan Midstream Partners, L.P., a Delaware limited partnership (the
“Partnership” or the “Issuer”),
                                     (the
“Subsidiary Guarantor”), a direct or indirect subsidiary of the Partnership, and U.S. Bank National Association, as trustee under the indenture referred to below (the “Trustee”), 
 W I T N E S S E T H: 
 WHEREAS, the
Issuer has heretofore executed and delivered to the Trustee an indenture (the “Original Indenture”), dated as of April 19, 2007, as supplemented by the Third Supplemental Indenture (the “Third Supplemental
Indenture,” and, together with the Original Indenture, the “Indenture”) dated as of June 26, 2009, between the Issuer and the Trustee, providing for the issuance of the Issuer’s 6.55% Senior Notes due
2019 (the “Notes”); 
 WHEREAS, Section 4.12 of the Indenture provides that under certain circumstances the
Partnership is required to cause the Subsidiary Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the Subsidiary Guarantor shall unconditionally guarantee all of the Issuer’s obligations under the Notes
pursuant to a Guarantee on the terms and conditions set forth herein; and 
 WHEREAS, pursuant to Section 9.01(g) of the Original
Indenture, the Issuer, the Subsidiary Guarantor and the Trustee are authorized to execute and deliver this Supplemental Indenture; 
 NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Subsidiary Guarantor and the Trustee mutually covenant and agree for the equal and ratable
benefit of the holders of the Notes as follows: 
 1. Definitions. 
 (a) Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 
 (b) For all purposes of this Supplemental Indenture, except as otherwise herein expressly provided or unless the context otherwise requires: (i) the
terms and expressions used herein shall have the same meanings as corresponding terms and expressions used in the Indenture; and (ii) the words “herein,” “hereof” and “hereby” and other words of similar import used
in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. 
 2. Agreement to
Guarantee. The Subsidiary Guarantor hereby agrees, jointly and severally with any other Subsidiary Guarantors under the Indenture, to guarantee the Issuer’s obligations under the Notes and all other amounts due and payable under the Indenture
on the 
  

 Exhibit B-1 

 
terms and subject to the conditions set forth in Article XIV of the Original Indenture and to be bound by all other applicable provisions of the Indenture.
To further evidence the Guarantee set forth in Section 14.01 of the Original Indenture, the Subsidiary Guarantor is executing a notation relating to such Guarantee, substantially in the form attached to the Original Indenture as Annex A. Except
as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all
purposes, and every holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 
 3. GOVERNING LAW.
THIS SUPPLEMENTAL INDENTURE SHALL BE DEEMED TO BE A NEW YORK CONTRACT, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 4. Trustee Makes No Representation. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 
 5. Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement. 
 6. Effect of Headings. The Section headings herein are for convenience only and shall not
effect the construction thereof. 
 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of
the date first above written. 
  

					
	ISSUER:
	
	MAGELLAN MIDSTREAM PARTNERS, L.P.
		
	By:	 	Magellan GP, LLC, its General Partner
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	[SUBSIDIARY GUARANTOR]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 Exhibit B-2 

			
	U.S. BANK NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 Exhibit B-32007 Omnibus Incentive Compensation Plan, as Amended April 17, 2009

 Exhibit 10.1 
  
  
 AMERICAN GREETINGS CORPORATION 
 2007 OMNIBUS INCENTIVE COMPENSATION PLAN 

 (AS AMENDED APRIL 17, 2009) 
 ARTICLE 1 
 DEFINITIONS 
 In this Plan, except where the context otherwise indicates, the following definitions apply. 
  

	1.1	“Agreement” means an agreement in Writing delivered to the Grantee, which evidences a grant of an Award under the Plan. 

  

	1.2	“Appreciation Right” means a right granted pursuant to Article 8 of this Plan. 

  

	1.3	“Award” means an Option, Share Award, Restricted Share, Deferred Share, Performance Bonus, Performance Share, Directors’ Share, Performance Unit, Appreciation
Right or Dividend Equivalents granted under this Plan. 

  

	1.4	“Board” means the Board of Directors of the Corporation. 

  

	1.5	“Change in Control” means the happening of any of the following events: 

  

	 	(i)	the Corporation is merged or consolidated or reorganized into or with another corporation or other legal person, and as a result of such merger, consolidation or reorganization less
than a majority of the combined voting power of the then-outstanding securities of such corporation or person immediately after such transaction is held in the aggregate by the holders of Common Stock immediately prior to such transaction;

  

	 	(ii)	the Corporation sells or otherwise transfers all or substantially all of its assets to any other corporation or other legal person, and less than a majority of the combined voting
power of the then-outstanding securities of such corporation or person immediately after such transaction is held in the aggregate by the holders of Common Stock immediately prior to such transaction; 

  

	 	(iii)	there is a report filed on Schedule 13D or Schedule TO (or any successor schedule, form or report), each as promulgated pursuant to the Exchange Act, disclosing that any person (as
the term “person” is used in Section 13(d)(3) or Section 14(d)(2) of the Exchange Act) has become the beneficial owner (as the term “beneficial owner” is defined under Rule 13d-3 or any successor rule or regulation
promulgated under the Exchange Act) of securities representing 20% or more of the Voting Power; 

  

	 	(iv)	the Corporation files a report or proxy statement with the Securities and Exchange Commission pursuant to the Exchange Act disclosing in response to Form 8-K or Schedule 14A (or any
successor schedule, form or report or item therein) that a Change in Control of the Corporation has occurred; or 

  

	 	(v)	if during any period of two consecutive years, individuals who at the beginning of any such period constitute the directors of the Corporation cease for any reason to constitute at
least a majority thereof, unless the election, or the nomination for election by the Corporation’s shareholders, of each director of the Corporation first elected during such period was approved by a vote of at least two-thirds of the directors
of the Corporation then still in office who were directors of the Corporation at the beginning of any such period. 

  

 1 

 Notwithstanding the foregoing provisions of Section 1.5(iii) and (iv) above, a “Change in
Control” shall not be deemed to have occurred for purposes of this Plan (i) solely because (A) the Corporation; (B) a Subsidiary; (C) any Corporation–sponsored employee stock ownership plan or other employee benefit
plan of the Corporation; or (D) any family member of Jacob Sapirstein (including lineal descendants, spouses of such descendants, the lineal descendants of any such spouse, the spouses of any such spouses’ lineal descendants and trust
(including voting trusts)) either files or becomes obligated to file a report or proxy statement under or in response to Schedule 13D, Schedule TO, Form 8-K or Schedule 14A (or any successor schedule, form or report or item therein) under the
Exchange Act, disclosing beneficial ownership by it of shares, whether in excess of 20% of the Voting Power or otherwise, or because the Corporation reports that a Change in Control of the Corporation has or may have occurred or will or may occur in
the future by reason of such beneficial ownership or (ii) solely because of a Change in Control of any Subsidiary. 
 Notwithstanding
the foregoing, if and to the extent that any provision of this Plan or an Award would cause a payment of deferred compensation that is subject to Section 409A(a)(2) of the Internal Revenue Code to be made upon the occurrence of a “Change
in Control,” then such payment shall not be made unless such “Change in Control” satisfies the requirements of Section 409A(2)(A)(v) of the Internal Revenue Code and applicable regulations and rulings thereunder. 
  

	1.6	“Class A Common Shares” means Class A Common Shares, par value $1.00 per share, of the Corporation. 

  

	1.7	“Class B Common Shares” means Class B Common Shares, par value $1.00 per share, of the Corporation. 

  

	1.8	“Committee” means (except as otherwise provided or limited in the following sentence), the full Board or the Board’s Compensation and Management Development
Committee, or such other committee or designee (including, without limitation, an officer of the Corporation) appointed by the Board or the Compensation and Management Development Committee to manage Awards generally or specific individual or group
of Awards. To the extent required by Section 162(m) of the Internal Revenue Code, Rule 16b-3 of the Exchange Act or other similar requirement, any action taken by the Committee shall be taken by the Committee as a whole or by a subcommittee of
at least two members, and all the members of the Committee or such subcommittee will be “outside directors” as defined in Treas. Reg. Section 1.162-27(e)(3) or any similar successor regulation and/or “non-employee directors”
as defined in Rule 16b-3(b)(3)(i) of the Exchange Act or any similar successor rule. In all other events, the Chairman of the Committee shall be authorized to act on behalf of the Committee unless otherwise determined by the Committee. Except where
the context otherwise requires, references in the Plan to the “Committee” also shall be deemed to refer to the Chairman and to any delegate of the Committee while acting within the scope of such delegation. 

  

	1.9	“Common Stock” means Class A Common Shares, Class B Common Shares or both. 

  

	1.10	“Corporation” means American Greetings Corporation. 

  

	1.11	“Covered Employee” means an Eligible Person who is, or is determined by the Committee to become, a “covered employee” within the meaning of
Section 162(m) of the Internal Revenue Code (or any successor provision). 

  

	1.12	“Deferral Period” means the period of time during which Deferred Shares, Awards or other compensation is subject to deferral limitations under Section 7.3 or
Article 13 of this Plan. 

  

	1.13	“Deferred Shares” means an Award made pursuant to Section 7.3 of this Plan of the right to receive Common Stock at the end of a specified Deferral Period.

  

	1.14	“Director” means any member of the Board, or any member of a board of directors of a Subsidiary, who is not also an employee of the Corporation or any Subsidiary.

  

 2 

	1.15	“Directors’ Share” means a Share awarded to a Director pursuant to Section 7.5 of this Plan. 

  

	1.16	“Dividend Equivalent” means an amount determined by multiplying the number of shares of Common Stock subject to a grant by the per-share cash dividend, or the
per-share fair market value (as determined by the Committee) of any dividend in consideration other than cash, paid by the Corporation on its Common Stock. 

  

	1.17	“Effective Date” means February 13, 2007.  

  

	1.18	“Eligible Person” means a key employee, officer or consultant of the Corporation or of a Subsidiary, or a Director, selected by the Committee as eligible to receive
an Award under the Plan. 

  

	1.19	“Exchange Act” means the Securities Exchange Act of 1934 as amended, and the rules and regulations promulgated thereunder. 

  

	1.20	“Fair Market Value” means, as of any given date, the closing price of the Class A Common Shares as reported on the New York Stock Exchange (or if the
Class A Common Shares are not then traded on the New York Stock Exchange, as reported by such other national securities exchange or quoted on the Nasdaq National Market or such other automated quotation system in which the Class A Common
Shares are quoted) as of the close of business on such date or the latest such date in which there is a listing. Fair Market Value shall be determined in a manner that complies with the requirements of Section 409A of the Internal Revenue Code
and regulations and rulings thereunder. 

  

	1.21	“Grantee” means an Eligible Person to whom an Award has been granted. 

  

	1.22	“Grant Date” means 

  

	 	(i)	with respect to Options and Appreciation Rights, the date on which such Award is approved by the Committee, or such later date specified by the Committee in authorizing the Award
provided that (A) the Eligible Person does not have the ability to individually negotiate the key terms and conditions of the Award with the Corporation or, if so, such negotiations have concluded and (B) the key terms of the Award are
expected to be communicated to the Grantee or group of Grantees within a relatively short period of time from the date as of which the Award is authorized to be granted; and 

  

	 	(ii)	with respect to all other Awards, the date on which such Award is approved by the Committee, or such later date specified by the Committee in authorizing the Award.

  

	1.23	“Incentive Stock Option” means an Option granted under the Plan that qualifies as an incentive stock option under Section 422 of the Internal Revenue Code (or
any successor provision) and that the Corporation designates as such in the Agreement granting the Option. 

  

	1.24	“Internal Revenue Code” means the Internal Revenue Code of 1986 as amended, and the rules and regulations promulgated thereunder. 

  

	1.25	“Nonstatutory Stock Option” means an Option granted under the Plan that is not an Incentive Stock Option. 

  

	1.26	“Option” means an option to purchase Shares granted under the Plan in accordance with the terms of Article 6 of this Plan. 

  

	1.27	“Option Period” means the period during which an Option may be exercised. 

  

 3 

	1.28	“Option Price” means the price per Share at which an Option may be exercised. The Option Price for any Option will equal the Fair Market Value on the Grant Date,
unless otherwise determined by the Committee in its discretion pursuant to an Option that contains terms and conditions that satisfy (or qualify such Option for an exemption from) the applicable requirements of Section 409A of the Internal
Revenue Code. 

  

	1.29	“Optionee” means an Eligible Person to whom an Option has been granted. 

  

	1.30	“Performance Criteria” means the performance standards selected by the Committee that may be based on revenue; gross margin; product line contribution; operating
and other expenses; operating earnings; earnings before interest, taxes, depreciation and amortization (“EBITDA”); earnings before interest and taxes (“EBIT”); pre-tax or after-tax profits; net income; earnings per share; cash
flow; productivity; return on assets; return on capital; return on equity; cash flow/net assets; debt/capital ratio; return on net capital employed (“RONCE”); sales growth; stock price appreciation; or total shareholder return (share
appreciation plus dividends as if reinvested), and may be absolute in their terms or measured against or in relationship to changes from period to period or against or in relationship to other companies comparably, similarly or otherwise situated.

  

	1.31	“Performance Period” means the period or periods, which may be of overlapping durations, during which each Performance Criterion of Qualified Performance-Based
Compensation or other performance criterion of a performance-based Award will be measured against the Performance Criteria or other performance goals established by the Committee and specified in the Agreement relating thereto.

  

	1.32	“Performance Bonus” means an award granted pursuant to Article 9 of this Plan. 

  

	1.33	“Performance Share” means a bookkeeping entry that records the equivalent of one Common Share awarded pursuant to Section 7.4 of this Plan.

  

	1.34	“Performance Unit” means a bookkeeping entry that records a unit equivalent to $1.00 awarded pursuant to Section 7.4 of this Plan. 

  

	1.35	“Plan” means this American Greetings Corporation 2007 Omnibus Incentive Compensation Plan which is the Plan set forth in this document, as amended from time to
time. 

  

	1.36	“Potential Change in Control” shall be deemed to have occurred if the event set forth in any one of the following paragraphs shall have occurred:

  

	 	(i)	the Corporation enters into an agreement, the consummation of which would result in the occurrence of a Change in Control; 

  

	 	(ii)	the commencement of a proxy contest in which any person (as such term is defined in Section 3(9) of the Exchange Act and also includes any group deemed to be a person under
Section 13(d)(3) of the Exchange Act) seeks to replace or remove a majority of the members of the Board; 

  

	 	(iii)	the Board otherwise adopts a resolution to the effect that, for purposes of this Agreement, a Potential Change in Control has occurred; or 

  

	 	(iv)	the Corporation files a report or proxy statement with the Securities and Exchange Commission pursuant to the Exchange Act disclosing in response to Form 8-K or Schedule 14A (or any
successor schedule, form or report or item therein) that a Change in Control of the Corporation may or will occur in the future. 

  

 4 

	1.37	“Qualified Performance-Based Compensation” means any compensation that is intended to qualify as “qualified performance-based compensation” as described
in Section 162(m)(4)(C) of the Internal Revenue Code. 

  

	1.38	“Related Award” means the Award in connection with which a Related Right is granted. 

  

	1.39	“Related Right” means an Appreciation Right granted in connection with a specified Award or by amendment of an outstanding Nonstatutory Stock Option granted under
the Plan. 

  

	1.40	“Restricted Share” means a Share awarded to an Eligible Person pursuant to Section 7.2 of this Plan that is subject to certain restrictions and may be subject
to forfeiture. 

  

	1.41	“Right Period” means the period during which an Appreciation Right may be exercised. 

  

	1.42	“Securities Act” means the Securities Act of 1933 as amended, and the rules and regulations promulgated thereunder.  

  

	1.43	“Share” means a share of authorized but unissued Common Stock, Common Stock held in treasury or a reacquired share of Common Stock, including shares purchased by
the Corporation on the open market for purposes of the Plan or otherwise. 

  

	1.44	“Share Award” means an award of Common Stock, or an Award denominated in terms of Common Stock, as described in Article 7 of this Plan, and includes, without
limitation, a Restricted Share, a Directors’ Share, a Deferred Share and a Performance Share.  

  

	1.45	“Subsidiary” means an entity which is a member of a “controlled group” or under “common control” with the Corporation as determined under
Section 414(b) or (c) of the Internal Revenue Code, except that an entity will be deemed to be in a controlled group or under common control with the Corporation for this purpose if the Corporation either directly or indirectly owns at
least 50% (or 20% with legitimate business criteria) of the total combined voting power of all classes of stock (or similar interests) of such entity or would otherwise satisfy the definition of service recipient under Section 409A of the
Internal Revenue Code. 

  

	1.47	“Voting Power” means at any time, the total votes relating to the then-outstanding securities entitled to vote generally in the election of directors of the
Corporation. 

  

	1.48	“Writing” means any paper or electronic means of documenting the terms of an Agreement hereunder which satisfies such requirements for formality, authenticity and
verification of signature and authority as may be established by the Committee or by those persons responsible for performing administrative functions under the Plan. 

 ARTICLE 2 
 PURPOSE 
 The Plan is intended to promote the success and enhance the value of the Corporation by linking the personal interests of Directors, officers and other
key employees and consultants to those of the Corporation’s shareholders and by providing flexibility to the Corporation in its ability to motivate, attract and retain the services of Directors, officers and other key employees and consultants
upon whose judgment, interest and special effort the successful conduct of the Corporation’s operations is largely dependent. 
  

 5 

 ARTICLE 3 
 PLAN MANAGEMENT AND ADMINISTRATION 
 The Plan will be managed by the Committee. Administrative
functions may include, without limitation, documenting and communicating Awards made hereunder, maintaining records concerning such Awards, and satisfying (or assisting Eligible Persons in satisfying) any applicable reporting, disclosure, tax filing
or withholding, or other legal requirements concerning Awards. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Corporation
or any Subsidiary, the Corporation’s independent registered public accounting firm or other certified public accountants, or any executive compensation consultant or other professional retained to assist in the administration of the Plan. In
addition to any other powers granted to the Committee, it will have the following management powers, subject to the express provisions of the Plan: 
  

	3.1	to determine in its discretion the Eligible Persons or group of Eligible Persons to whom Awards will be granted; 

  

	3.2	to determine the types of Awards to be granted; 

  

	3.3	to determine the number of Awards to be granted to an Eligible Person or to a group of Eligible Persons and the number of Shares to be subject to each Award or pool of Awards;

  

	3.4	to determine the terms and conditions of any Award, including, but not limited to, the Option Price, grant price, or purchase price, any restrictions or limitations on the Award,
any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, and any provisions related to non-competition and recapture of gain on an Award, based in each case on
considerations as the Committee in its sole discretion determines; 

  

	3.5	to construe and interpret any Agreement and the Plan; 

  

	3.6	to require, whether or not provided for in the pertinent Agreement, of any Grantee, the making of any representations or agreements that the Committee may deem necessary or
advisable in order to comply with, or qualify for advantageous treatment under, applicable securities, tax, or other laws; 

  

	3.7	to provide for satisfaction of a Grantee’s tax liabilities arising in connection with the Plan through, without limitation, retention by the Corporation of Shares otherwise
issuable on the exercise of, or pursuant to, an Award or through delivery of Common Stock to the Corporation by the Grantee under such terms and conditions as the Committee deems appropriate, including but not limited to any Share attestation
procedure approved or ratified by the Committee or by delivery of a properly executed notice together with irrevocable instructions to a broker to promptly deliver to the Corporation the amount of sale or loan proceeds to pay the tax liabilities,
provided that in any case the Share amount retained will not exceed the minimum applicable required withholding tax rate for federal (including FICA), state or local tax liability; 

  

	3.8	to make all other determinations and take all other actions necessary or advisable for the management and administration of the Plan, including but not limited to establishing,
adopting or revising any rules and regulations as it may deem necessary; 

  

	3.9	to delegate to officers or managers of the Corporation or any Subsidiary the authority to make Awards to Eligible Persons, to select such Eligible Persons, and to determine such
terms and conditions thereof as may be specified in such delegation, from a pool of Awards authorized by the Committee; 

  

	3.10	to condition the grant of any Award or combination of Awards authorized under this Plan on the surrender or deferral by the Eligible Person of his or her right to receive a cash
bonus or other compensation otherwise payable by the Corporation or a Subsidiary to the Grantee; and 

  

 6 

	3.11	without limiting the generality of the foregoing, to provide in its discretion in an Agreement: 

  

	 	(i)	for an agreement by the Grantee to render services to the Corporation or a Subsidiary upon such terms and conditions as may be specified in the Agreement, provided that the
Committee will not have the power under the Plan to commit the Corporation or any Subsidiary to employ or otherwise retain any Optionee or Grantee; 

  

	 	(ii)	for restrictions on the transfer, sale or other disposition of Shares issued to the Grantee; 

  

	 	(iii)	for an agreement by the Grantee to resell to the Corporation, under specified conditions, Shares issued in connection with an Award; 

  

	 	(iv)	for the payment of the Option Price upon the exercise of an Option otherwise than in cash, including without limitation by delivery of Common Stock valued at Fair Market Value on
the exercise date of the Option or a combination of cash and Common Stock; by means of any Share attestation procedure approved or ratified by the Committee; or by delivery of a properly executed exercise notice together with irrevocable
instructions to a broker to promptly deliver to the Corporation the amount of sale proceeds to pay the exercise price; 

  

	 	(v)	for the deferral of receipt of amounts that otherwise would be distributed upon exercise or payment of an Award, the terms and conditions of any such deferral and any interest or
Dividend Equivalent or other payment that will accrue with respect to deferred distributions, subject to the provisions of Article 13 of this Plan; and 

  

	 	(vi)	for the effect of a Change in Control or Potential Change of Control, as defined herein, of the Corporation on the rights of a Grantee with respect to any Award.

 Any determinations or actions made or taken by the Committee pursuant to this Article will be binding and final. 

ARTICLE 4 
 ELIGIBILITY

 Eligible Persons may be granted one or more Awards; provided, however, that Incentive Stock Options will not be granted to Directors.

 ARTICLE 5 
 SHARES
SUBJECT TO THE PLAN 
  

	5.1	Subject to adjustment as provided in Article 14 of this Plan and Section 5.3 below, the number of Shares that may be issued or transferred (i) upon the exercise of Options
or Appreciation Rights; (ii) as Share Awards; (iii) as Restricted Shares and released from substantial risk of forfeiture thereof; (iv) as Deferred Shares; (v) in payment of Performance Shares or Performance Units that have been
earned; (vi) as Directors’ Shares; or (vii) in payment of Dividend Equivalents paid with respect to awards made under the Plan, shall not exceed in the aggregate 4,400,000 Class A Common Shares and 1,100,000 Class B Common
Shares, respectively. Such Shares may be shares of original issuance or treasury shares or a combination of the foregoing. 

  

	5.2	 Subject to adjustment as provided in Article 14 of this Plan, grants of Incentive Stock Options under the Plan may not be made with respect to more than 4,400,000
Class A Common Shares and 1,100,000 Class B Common Shares during any calendar year, provided that such limits only apply to the extent consistent with applicable regulations relating to Incentive Stock Options under the Internal Revenue Code.
With respect to 

  

 7 

	 	 
one fiscal year, (i) subject to adjustment as provided in Article 14 of this Plan an Eligible Person shall not receive Appreciation Rights in excess of
500,000 Class A Common Shares and 500,000 Class B Common Shares; (ii) an Eligible Person shall not receive an award of Performance Shares or Performance Units having an aggregate maximum value as of their respective Grant Date in excess of
$5,000,000; and (iii) subject to adjustment as provided in Article 14 of this Plan, an Eligible Person shall not receive Awards in excess, in the aggregate, of 500,000 Class A Common Shares and 500,000 Class B Common Shares and
collectively 500,000 Shares (“Individual Limit”). 

  

	5.3	Shares underlying outstanding Awards made under the Plan will be available for subsequent issuance under the Plan to the extent those Awards are forfeited, expire or terminate for
any reason prior to the issuance of the Shares subject to those Awards. Shares issued under the Plan subject to a vesting requirement and subsequently forfeited or repurchased by the Corporation, at a price per Share not greater than the original
issue price paid per Share, pursuant to the Corporation’s repurchase rights under the Plan or the applicable Agreement will be added back to the number of Shares reserved for issuance under the Plan and accordingly will be available for
subsequent reissuance. Should the exercise price of an Option under the Plan be paid with Shares, then the authorized reserve of Common Stock under the Plan will be reduced by the gross number of Shares for which that Option is exercised, and not by
the net number of Shares issued under the exercised Option. If Shares otherwise issuable under the Plan are withheld by the Corporation in satisfaction of the withholding taxes incurred in connection with the exercise of an Option, Appreciation
Right or issuance of fully-vested Shares under another type of Award, then the number of Shares available for issuance under the Plan will be reduced by the gross number of Shares issuable under the exercised Option or Appreciation Right or the
gross number of fully-vested Shares issuable under another type of Award, calculated in each instance prior to any such share withholding. Notwithstanding the foregoing, any Award or portion of an Award that in accordance with the terms of the
applicable Agreement, is payable only in cash immediately will be added back to the number of Shares reserved for issuance under the Plan and accordingly will be available for subsequent reissuance. 

  

	5.4	Where two or more Awards are granted in relation to each other such that the exercise or payment of one such Award automatically and by its terms reduces the number of Shares that
may be issued or the amount that may be received pursuant to the other Award or Awards, then the amount that will be included for purposes of the Individual Limit set forth in Section 5.2 of this Plan for such Awards will be the amount that is
the maximum number of Shares that could be issued or received pursuant to such Awards and their related Awards taken as a whole, and only the maximum number of Shares that could be issued pursuant to such Awards will be counted against the number of
Shares reserved under the Plan at the time of their grant. 

  

	5.5	In the case of any Award granted in substitution for an award of a business, corporation or other entity acquired by the Corporation or a Subsidiary, Shares issued or issuable in
connection with such substitution will not be counted against the number of Shares reserved under the Plan, but will be available under the Plan by virtue of the Corporation’s assumption of the plan or arrangement of the acquired business,
corporation or other entity. 

 ARTICLE 6 
 OPTIONS 
  

	6.1	The Committee is hereby authorized to grant Incentive Stock Options and Nonstatutory Stock Options to any employee who is an Eligible Person and to grant Nonstatutory Stock Options
to any Director, provided that the number of Options granted to an Eligible Person during a fiscal year will not exceed the applicable limitations set forth in Article 5 of this Plan when aggregated with other Awards made to that Eligible Person
during that fiscal year. 

  

	6.2	 All Options will be evidenced by an Agreement. All Agreements granting Incentive Stock Options will contain a statement that the Option is intended to be an
Incentive Stock Option; if no such statement is 

  

 8 

	 	 
included in the Agreement, or if the Agreement affirmatively states that the Option is intended to be a Nonstatutory Stock Option, the Option shall be a
Nonstatutory Stock Option. 

  

	6.3	All Agreements shall specify the number of Class A Common Shares or Class B Common Shares to which it pertains subject to the limitations set forth in Article 5 of this Plan.

  

	6.4	The Option Period will be determined by the Committee and specifically set forth in the Agreement, provided that an Option will not be exercisable after ten years from the Grant
Date. 

  

	6.5	The Committee will, at or after the Grant Date, determine the methods by which the Option Price of an Option may be paid and the form or forms of payment that may be permitted.

  

	6.6	The Committee may provide in the Agreement evidencing the grant of an Option that the Committee, in its sole discretion, will have the right to substitute an Appreciation Right for
such Option at any time prior to or upon exercise of such Option; provided, however, that such Appreciation Right will be exercisable with respect to the same number of Shares for which such substituted Option would have been exercisable.

  

	6.7	The Committee may provide in the Agreement evidencing a grant of Options (other than Incentive Stock Options) that the Committee, in its sole discretion, will have the right to
provide for the payment of Dividend Equivalents to the Optionee on either a current, deferred, or contingent basis or may provide that such equivalents shall be credited against the Option Price. 

  

	6.8	The exercise of an Option shall result in the cancellation on a share-for-share basis of any Related Right authorized under Article 8 of this Plan. 

  

	6.9	Except as otherwise determined by the Committee and set forth in an Agreement, if a Director subsequently becomes an employee of the Corporation or a Subsidiary while remaining a
member of the Board, any Options held under the Plan by such individual at the time of such commencement of employment shall not be affected thereby. If an employee who is also a Director terminates employment, any Awards granted in connection with
such individual’s employment will continue to be governed by and subject to the provisions of the Plan and the Agreement regarding a termination of employment. 

  

	6.10	All other terms of Options granted under the Plan will be determined by the Committee in its sole discretion. 

 ARTICLE 7 
 SHARE AWARDS, PERFORMANCE UNITS AND DIRECTORS’ AWARDS 

  

	7.1	The Committee is authorized to grant Share Awards to any Eligible Person in such amounts and subject to such terms and conditions as determined by the Committee, provided that the
number of Shares awarded to an Eligible Person during a fiscal year will not exceed the applicable limitations set forth in Article 5 of this Plan when aggregated with other Share Awards made to that Eligible Person during that fiscal year. All
Share Awards will be evidenced by an Agreement. Shares issued or transferred pursuant to a Share Award may be issued or transferred for consideration or no consideration (except as required by applicable law). 

  

	7.2	Except as otherwise determined by the Committee and set forth in an Agreement, Restricted Shares are subject to the following terms and conditions: 

  

	 	(i)	 Each such grant shall constitute an immediate transfer of the ownership of Common Stock to the Eligible Person in consideration for the performance of services,
entitling such Eligible Person to voting, dividend and other ownership rights consistent with the Corporation’s Articles of Incorporation, Code of Regulations and other corporate documents as applicable to and governing Class A Common

  

 9 

	 	 
Shares and Class B Common Shares, but subject to the substantial risk of forfeiture and restrictions on transfer hereinafter referred to and subject to any
requirement that requires any or all dividends or other distributions paid with respect to Restricted Shares be automatically deferred and reinvested in additional Restricted Shares, which may be subject to the same restrictions as the underlying
award. 

  

	 	(ii)	Each such grant may be made without additional consideration or in consideration of a payment by such Eligible Person that is more or less than Fair Market Value per Share at the
Grant Date. 

  

	 	(iii)	Each such grant shall provide that the Restricted Shares covered by such grant shall be subject to a “substantial risk of forfeiture” within the meaning of Section 83
of the Internal Revenue Code. Each such grant shall provide that during the period for which such substantial risk of forfeiture is to continue the transferability of the Restricted Shares shall be prohibited or restricted in the manner and to the
extent prescribed by the Committee at the Grant Date. Except as otherwise determined by the Committee at the time of the grant of Restricted Shares or thereafter, upon termination of employment or service with or for the Corporation and/or
Subsidiaries during the applicable restriction period, Restricted Shares that are at that time subject to restrictions will be forfeited. 

  

	 	(iv)	Any grant of Restricted Shares may specify Performance Criteria or other performance goals which, if achieved, will result in termination or early termination of the restrictions
applicable to such shares, and each grant may specify in respect of such specified Performance Criteria or other performance goals, a minimum acceptable level of achievement and shall set forth a formula for determining the number of Restricted
Shares on which the restrictions will terminate if performance is at or above the minimum level, but falls short of full achievement of the specified Performance Criteria or other performance goals. 

  

	 	(v)	If certificates representing Restricted Shares are registered in the name of the Grantee, those certificates must bear an appropriate legend referring to the terms, conditions and
restrictions applicable to such Restricted Shares, and the Corporation may, at its discretion, retain physical possession of certificates until such time as all applicable restrictions lapse. 

  

	7.3	Except as otherwise determined by the Committee and set forth in an Agreement, Deferred Shares are subject to the following terms and conditions: 

  

	 	(i)	Each such grant shall constitute the agreement by the Corporation to deliver Common Stock to the Eligible Person in the future in consideration of the performance of services, but
subject to the fulfillment of such conditions during the Deferral Period as the Committee may specify. 

  

	 	(ii)	Each such grant may be made without additional consideration or in consideration of a payment by such Eligible Person that is more or less than Fair Market Value per Share at the
Grant Date. 

  

	 	(iii)	Each such grant shall be subject to a Deferral Period of not less than one year, as determined by the Committee at the Grant Date except (if the Committee shall so determine) in the
event of a Change in Control or other similar transaction or event. 

  

	 	(iv)	During the Deferral Period, an Eligible Person shall have no right to transfer any rights under his or her award, shall have no rights of ownership in the Deferred Shares and shall
have no right to vote them, but the Committee may, at or after the Grant Date, authorize the payment of Dividend Equivalents on such shares on either a current, deferred, or contingent basis, either in cash or in additional Common Stock.

  

	 	(v)	Each grant shall be consistent with Section 409A of the Internal Revenue Code, as the Committee may approve. 

  

 10 

	7.4	Except as otherwise determined by the Committee and set forth in an Agreement, Performance Shares or Performance Units are subject to the following terms and conditions:

  

	 	(i)	The Performance Period with respect to each Performance Share and Performance Unit shall be such period of time designated in the Agreement (as shall be determined by the Committee
at the time of grant) commencing with the Grant Date. 

  

	 	(ii)	Any grant of Performance Shares and Performance Units shall specify Performance Criteria or other performance goals which, if achieved, will result in payment or early payment of
the Award, and each grant may specify in respect of such specified Performance Criteria or other performance goals a minimum acceptable level of achievement and shall set forth a formula for determining the number of Performance Shares or
Performance Units that will be earned if performance is at or above the minimum level, but falls short of full achievement or the specified Performance Criteria or other performance goals. 

  

	 	(iii)	Each grant shall specify the time and manner of payment of Performance Shares or Performance Units that have been earned. Any grant may specify that the amount payable with respect
thereto may be paid by the Corporation in cash, in Class A Common Shares or Class B Common Shares or in any combination thereof and may either grant to the Eligible Person or retain in the Committee the right to elect among those alternatives.

  

	 	(iv)	The Committee may, at or after the Grant Date, provide for the payment of Dividend Equivalents to the holder thereof on either a current, deferred or contingent basis, either in
cash or in additional Common Stock. 

  

	7.5	Subject to the applicable limitations set forth in Article 5 of this Plan, Directors may elect to receive Class A or Class B Common Shares, as determined by the Board, in an
amount equal to (and in lieu of) any or all fees owed to them by the Corporation as compensation for serving on the Corporation’s Board. For the purposes of this Section 7.5, Shares are valued at the closing price reported on the New York
Stock Exchange (or if the Class A Common Shares are not then traded on the New York Stock Exchange, as reported by such other national securities exchange or quoted on the Nasdaq National Market or such other automated quotation system in which
the Class A Common Shares are quoted) on the last trading day of the calendar quarter prior to payment of such fees. Any fractional shares shall be paid as cash. 

 ARTICLE 8 
 APPRECIATION RIGHTS 
  

	8.1	The Committee may grant Appreciation Rights to any Eligible Person, upon such terms and conditions as the Committee deems appropriate under this Article 8, provided that the number
of Appreciation Rights granted to an Eligible Person during a fiscal year will not exceed the applicable limitations set forth in Article 5 of this Plan when aggregated with other Appreciation Rights made to that Eligible Person during that fiscal
year. 

  

	8.2	An Appreciation Right may be granted under the Plan: 

  

	 	(i)	in connection with, and at the same time as, the grant of an Option to an Eligible Person; 

  

	 	(ii)	by amendment of an outstanding Nonstatutory Stock Option granted under the Plan to an Eligible Person; or 

  

	 	(iii)	independently of any Option granted under the Plan. 

  

 11 

 An Appreciation Right granted under clause (i) or (ii) of the preceding sentence is a Related
Right. A Related Right may, in the Committee’s discretion, apply to all or a portion of the Options subject to the Related Award. 
  

	8.3	An Appreciation Right may be exercised in whole or in part as provided in the Agreement, and, subject to the provisions of the Agreement, entitles its Grantee to receive, without
any payment to the Corporation (other than required tax withholding amounts), either cash or that number of Shares (equal to the highest whole number of Shares), or a combination thereof, in an amount or having a Fair Market Value determined as of
the date such Appreciation Right is exercised not to exceed the number of shares underlying the Appreciation Right exercised multiplied by an amount equal to the excess of the Fair Market Value on the exercise date of the Appreciation Right over the
“base price”, which is the Fair Market Value on the Grant Date of the Appreciation Right (or such price in excess of Fair Market Value on the Grant Date as the Committee determined at the time of grant). 

  

	8.4	The Right Period will be determined by the Committee and specifically set forth in the Agreement, provided, however that an Appreciation Right that is a Related Right may be
exercised only when and to the extent the Related Award is exercisable. 

  

	8.5	The exercise or settlement, in whole or in part, of a Related Right will cause a reduction on a share-for-share basis in any Related Award. 

  

	8.6	The Committee may specify Performance Criteria or other performance goals that must be achieved as a condition of the exercise of such rights. 

  

	8.7	Each grant of Appreciation Rights shall be evidenced by an Agreement that identifies the related Options (if applicable) and contains such terms and provisions, consistent with this
Plan, as the Committee may approve. 

 ARTICLE 9 
 PERFORMANCE BONUSES 
 The Committee may grant Performance Bonuses under the Plan
in the form of cash or Shares to Eligible Persons that the Committee may from time to time select, in the amounts and pursuant to the terms and conditions that the Committee may determine, subject to the provisions below: 
  

	9.1	Performance Bonuses will be awarded in connection with a Performance Period, the length of which will be determined by the Committee. 

  

	9.2	The Committee will determine the persons who will be eligible to receive a Performance Bonus under the Plan. 

  

	9.3	Performance Criteria or other performance goals, performance targets and other award criteria shall be determined as follows: 

  

	 	(i)	The Committee will fix and establish (A) the performance goals that will apply to that Performance Period; (B) the target amount payable to each Eligible Person; and
(C) subject to Section 9.4 below, the criteria for computing the amount that will be paid with respect to each level of attained performance. The Committee may also set forth the minimum level of performance, based on objective factors,
that must be attained during the Performance Period before any Performance Bonus will be paid and the percentage of the target amount that will become payable upon attainment of various levels of performance that equal or exceed any minimum required
level. 

  

 12 

	 	(ii)	The Committee may, in its discretion, select performance goals that measure the performance of the Eligible Person, the Corporation or one or more business units, divisions or
Subsidiaries of the Corporation. The Committee may select performance goals that are absolute or relative to the performance of one or more comparable companies or an index of comparable companies. The performance goals may be described in terms of
company-wide objectives or objectives that are related to the performance of the individual Eligible Person or of the Subsidiary, division, department, region or function within the Corporation or Subsidiary in which the Eligible Person is employed.

  

	9.4	In applying the performance goals, the Committee may, in its discretion, exclude unusual or infrequently occurring items (including any event listed in Article 14 of this Plan and
the cumulative effect of changes in the law, regulations or accounting rules), and may determine to exclude other items, each determined in accordance with GAAP (to the extent applicable) and as identified in the financial statements, notes to the
financial statements or discussion and analysis of management. 

  

	9.5	All such Performance Bonuses shall be paid no later than the 15th day of the third month following the end of the calendar year (or, if later, following the end of the
Corporation’s fiscal year) in which such Performance Bonuses are no longer subject to a substantial risk of forfeiture (as determined for purposes of Section 409A of the Internal Revenue Code). The Committee may provide that Awards will be
payable, in whole or in part, in the event of the Grantee’s death or disability, a Change of Control or under other circumstances. 

 ARTICLE 10 
 QUALIFIED PERFORMANCE-BASED COMPENSATION 
  

	10.1	The Committee may determine that an Award or Awards granted to an Eligible Person will be considered “qualified performance-based compensation” under Section 162(m)
of the Internal Revenue Code. The provisions of this Article 10 apply only to any such Awards that are to be considered “qualified performance-based compensation” under Section 162(m) of the Internal Revenue Code. To the extent that
Awards designated as “qualified performance-based compensation” under Section 162(m) of the Internal Revenue Code are made, no such Award may be made as an alternative to another Award that is not also designated as “qualified
performance-based compensation” but instead must be separate and apart from all other Awards made. 

  

	10.2	When Options or Appreciation Rights that are to be considered “qualified performance-based compensation” are granted, the Committee approving such grants must consist
solely of two or more “outside directors” as defined in Treas. Reg. Section 1.162-27(e)(3), and the Option Price or base price, as the case may be, established for the grant by the Committee will not be less than the Fair Market Value
on the Grant Date. 

  

	10.3	When Awards other than Options or Appreciation Rights that are to be considered “qualified performance-based compensation” are granted, the Committee will establish in
writing (i) the Performance Criteria that must be met, (ii) the Performance Period during which performance will be measured, (iii) the maximum amounts that may be paid if the Performance Criteria are met, and (iv) any other
conditions that the Committee deems appropriate and consistent with the Plan and the requirements of Section 162(m) of the Internal Revenue Code for “qualified performance-based compensation.” The Performance Criteria will satisfy the
requirements for “qualified performance-based compensation,” including the requirement that the achievement of the goals be substantially uncertain at the time they are established and that the Performance Criteria be established in such a
way that a third party with knowledge of the relevant facts could determine whether and to what extent the Performance Criteria have been met. The Committee will not have discretion to increase the maximum amount of compensation that is payable upon
achievement of the designated Performance Criteria, but the Committee may in its discretion reduce the amount of compensation that is payable to an Eligible Person upon achievement of the designated Performance Criteria. 

  

 13 

	10.4	The Committee will establish the Performance Criteria in writing either before the beginning of the Performance Period or during a period ending no later than the earlier of
(i) 90 days after the beginning of the Performance Period or (ii) the date on which 25% of the Performance Period has been completed, or such other date as may be required or permitted under applicable regulations under Section 162(m)
of the Internal Revenue Code. 

  

	10.5	The Committee will certify and announce the results for the Performance Period to all affected Grantees after the Corporation determines the financial and other relevant performance
results for the Performance Period. The Committee will determine the amount, if any, to be paid pursuant to each Award based on the achievement of the Performance Criteria and the terms of each Agreement. 

  

	10.6	The Committee may provide that Awards will be payable, in whole or in part, in the event of the Grantee’s death or disability, a Change of Control or under other circumstances
consistent with the Treasury regulations and rulings under Section 162(m) of the Internal Revenue Code. 

 ARTICLE 11

 TRANSFERABILITY 
  

	11.1	Except as otherwise determined by the Committee on a case-by-case basis, no Options, Appreciation Rights or other derivative security granted under the Plan shall be transferable by
an Optionee other than by will or the laws of descent and distribution. Except as otherwise determined by the Committee on a case-by-case basis, Options and Appreciation Rights shall be exercisable during the Optionee’s lifetime only by him or
her or by his or her guardian or legal representative. 

  

	11.2	The Committee may specify at the Grant Date that part or all of the Common Stock that is (i) to be issued or transferred by the Corporation upon the exercise of Option grants
or Appreciation Rights, upon the termination of the Deferral Period applicable to Deferred Shares or upon payment under any grant of Performance Shares or Performance Units or (ii) no longer subject to the substantial risk of forfeiture and
restrictions on transfer referred to in Section 7.2 of this Plan, shall be subject to further restrictions on transfer. 

  

	11.3	The Grantee acknowledges that the Plan is intended to conform to the extent necessary with all provisions of the Securities Act, the Exchange Act, and any and all regulations and
rules promulgated thereunder, or by the Securities and Exchange Commission, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered and Awards may be granted and exercised only in
such manner to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and any Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

 ARTICLE 12 
 EXERCISE; PAYMENT OF WITHHOLDING TAXES 
 An Award that is exercisable by the Grantee may, subject to the provisions of the
Agreement under which it was granted, be exercised in whole or in part by the delivery to the Corporation of written notice of the exercise, in such form as the Committee may prescribe. The exercise, however, will not be effective until the
Corporation has received the election notice and will be subject to receipt by the Corporation of payment of any applicable Option Price or other amount due in connection with such exercise, calculation by the Corporation of the applicable
withholding taxes, and receipt by the Corporation of payment for any applicable withholding taxes. 
  

 14 

 ARTICLE 13 
 DEFERRAL OF AWARDS OR COMPENSATION 
  

	13.1	If a Grantee so elects in accordance with the terms of an Agreement, the Grantee may defer (i) any or all of an amount otherwise payable in connection with an Award or
(ii) any payment of a cash bonus or other compensation in exchange for an Award under this Plan, provided that: 

  

	 	(i)	the Grantee makes such election by delivering to the Corporation written notice of such election, at such time and in such form as the Committee may from time to time prescribe in
accordance with the deferral requirements set forth in Section 409A of the Internal Revenue Code; 

  

	 	(ii)	such election will be irrevocable; 

  

	 	(iii)	such deferred payment will be made in accordance with the provisions of such deferred compensation plan; and 

  

	 	(iv)	the terms of the deferred compensation plan and the election to defer under this Plan comply with Section 409A of the Internal Revenue Code. 

  

	13.2	The Committee may also provide that deferral issuances and settlements include the payment or crediting of Dividend Equivalents or interest on the deferral amounts. Nothing in this
Plan shall be deemed to limit an Eligible Person’s ability to defer compensation under any other deferred compensation plan, arrangement or Agreement maintained by the Corporation. 

 ARTICLE 14 
 CAPITAL ADJUSTMENTS 

 The number and class of Shares subject to each outstanding Share Award, the Option Price, the base price for any Appreciation Right or
other Award using such a price, the aggregate number and class of Shares for which grants of Share Awards thereafter may be made or in which Awards may be paid, and the limits provided for in Article 5 of this Plan, will be subject to such
adjustment, if any, as the Committee in its sole discretion deems appropriate to reflect any corporate transaction or event, including, without limitation, dividends, Share splits, spin-offs, split-ups, recapitalizations, mergers, consolidations or
reorganizations of or by the Corporation. 
 ARTICLE 15 
 CONSEQUENCES OF A CHANGE IN CONTROL 
 OR POTENTIAL CHANGE IN CONTROL 
  

	15.1	 In the event of a Change in Control or Potential Change in Control, in addition to such other actions contemplated herein, the Committee may take any one or more of
the following actions with respect to any or all outstanding Awards, without the consent of any Eligible Person: (i) the Committee may determine that outstanding Options and Appreciation Rights shall be fully exercisable, and restrictions on
outstanding Restricted Shares, Deferred Shares, Performance Shares and Performance Units shall lapse, as of the date of the Change in Control or at such other time as the Committee determines, (ii) the Committee may require that Eligible
Persons surrender their outstanding Options and Appreciation Rights in exchange for one or more payments by the Corporation, in cash or Common Stock as determined by the Committee, in an amount equal to the amount by which the then Fair Market Value
of the shares of Common Stock subject to the Eligible Persons’ unexercised Options and Appreciation Rights exceeds the exercise price, if any, and on such terms as the Committee determines, (iii) after giving Eligible Persons an
opportunity to exercise their outstanding Options and Appreciation Rights, the Committee may terminate any or all unexercised Options and Appreciation Rights at such time as the Committee deems appropriate, (iv) with respect to Grantees holding
Share Awards, Directors’ Shares, Performance Units or Dividend Equivalents, the Committee may determine that such Grantees shall receive one or more payments in settlement of such Share Awards, 

  

 15 

	 	 
Directors’ Shares and Performance Units, in such amount and form and on such terms as may be determined by the Committee, or (v) the Committee may
determine that Awards that remain outstanding after the Change in Control shall be converted to similar grants of, or assumed by, the surviving corporation (or a parent or subsidiary of the surviving corporation or successor). Such acceleration,
surrender, termination, settlement or conversion shall take place as of the date of the Change in Control or such other date as the Committee may specify. 

  

	15.2	The Committee may provide in an Agreement that a sale or other transaction involving a Subsidiary or other business unit of the Corporation shall be considered a Change in Control
for purposes of an Award, or the Committee may establish other provisions that shall be applicable in the event of a specified transaction. 

 ARTICLE 16 
 TERMINATION OR AMENDMENT 
  

	16.1	The Board or the Committee may amend, alter or terminate this Plan in any respect, at any time; provided, however, that no amendment, alteration or termination of this Plan will be
made by the Board or the Committee without approval of (i) the Corporation’s shareholders to the extent shareholder approval of the amendment is required by applicable law or regulations or the requirements of the principal exchange or
interdealer quotation system on which the Common Stock is listed or quoted, and (ii) each affected Optionee or Grantee if such amendment, alteration or termination would adversely affect his or her rights or obligations under any Award made
prior to the date of such amendment, alteration or termination except as otherwise permitted under Articles 15 and 19 of this Plan. 

  

	16.2	The effective date of any amendment to the Plan will be the date specified by the Board or Committee, as applicable. Any amendments to the Plan requiring shareholder approval
pursuant to this Article 16 are subject to approval by vote of the shareholders of the Corporation within twelve months after their adoption by the Board or the Committee. Subject to that approval, any such amendments are effective as of the date on
which they are adopted by the Board. Awards may be granted or awarded prior to shareholder approval of amendments, but each Award requiring such amendments will be subject to the approval of the amendments by the shareholders. The date on which any
Award made prior to shareholder approval of the amendment will be the Grant Date for all purposes of the Plan as if the Award had not been subject to approval. No Award granted subject to shareholder approval of an amendment may be exercised prior
to such shareholder approval, and any dividends payable thereon are subject to forfeiture if such shareholder approval is not obtained. Presentation of this Plan or any amendment hereof for shareholder approval shall not be construed to limit the
Corporation’s authority to offer similar or dissimilar benefits under other plans without shareholder approval. 

  

	16.3	Neither the Board nor the Committee shall, without further approval of the shareholders of the Corporation, authorize the amendment of any outstanding Option to reduce the Option
Price. Furthermore, no Option shall be canceled and replaced with awards having a lower Option Price without further approval of the shareholders of the Corporation. This Section 16.3 is intended to prohibit the repricing of
“underwarter” Options and shall not be construed to prohibit the adjustments provided for in Section 14 of this Plan. 

  

	16.4	Neither the Board nor the Committee shall, without further approval of the shareholders of the Corporation, authorize any Option grant to provide for automatic “reload”
rights, the automatic grant of Options to the Optionee upon the exercise of Options using Shares or other equity. 

 ARTICLE
17 
 TERM OF THE PLAN 
 Unless sooner terminated by the Board or the Committee pursuant to Article 16 of this Plan, the Plan will terminate ten years after the date on which the Plan was first approved by the shareholders of the Corporation. The termination will
not affect the validity of any Awards outstanding on the date of termination. Awards may be 

  

 16 

 
granted or awarded prior to shareholder approval of this Plan, but any Award requiring such shareholder approval will be subject to approval of the Plan by
the shareholders. No Award granted subject to such shareholder approval, and any dividends payable thereon, are subject to forfeiture if such shareholder approval is not obtained. 
 ARTICLE 18 
 INDEMNIFICATION OF COMMITTEE 
 In addition to such other rights of indemnification as they may have as directors or as members of the Committee, the members of the Committee will be
indemnified by the Corporation against the reasonable expenses, including attorneys’ fees, actually and reasonably incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which
they or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan or any Awards granted hereunder, and against all amounts reasonably paid by them in settlement thereof or paid by them in
satisfaction of a judgment in any such action, suit or proceeding, if such members acted in good faith and in a manner which they believed to be in, and not opposed to, the best interests of the Corporation. 
 ARTICLE 19 
 COMPLIANCE WITH
SECTION 409A OF THE INTERNAL REVENUE CODE 
 To the extent the Committee determines that any Award granted under the Plan is subject
to Section 409A of the Internal Revenue Code, the Agreement evidencing such Award will incorporate the terms and conditions required by Section 409A of the Internal Revenue Code. To the extent applicable, the Plan and Agreement will be
interpreted in accordance with Section 409A of the Internal Revenue Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be
issued after the Effective Date. Notwithstanding any provision of the Plan, in the event that following the Effective Date the Committee determines that any Award may be subject to Section 409A of the Internal Revenue Code, the Committee may
adopt such amendments to the Plan and/or the applicable Agreement or adopt policies and procedures or take any other action or actions, including an action or amendment with retroactive effect, that the Committee determines is necessary or
appropriate to (i) exempt the Award from the application of Section 409A of the Internal Revenue Code or (ii) comply with the requirements of Section 409A of the Internal Revenue Code. 
 ARTICLE 20 
 GENERAL PROVISIONS 

  

	20.1	The establishment of the Plan will not confer upon any Eligible Person any legal or equitable right against the Corporation, any Subsidiary or the Committee, except as expressly
provided in the Plan. 

  

	20.2	All grants and awards under the Plan are subject to the condition subsequent that an appropriate Agreement be signed by the parties. 

  

	20.3	Neither the Plan nor any Agreement constitutes inducement or consideration for the employment or retention of any Eligible Person, nor are they a contract of employment or retention
for a specific term between the Corporation or any Subsidiary and any Eligible Person. Participation in the Plan will not give an Eligible Person any right to be retained in the service of the Corporation or any Subsidiary as an employee, a director
or otherwise. 

  

	20.4	 The Corporation and its Subsidiaries may assume options, warrants, or rights to purchase shares issued or granted by other corporations or entities whose shares or
assets are acquired by the Corporation or its Subsidiaries, or which are merged into or consolidated with the Corporation or its Subsidiaries. Neither the 

  

 17 

	 	 
adoption of this Plan, nor its submission to the shareholders, will be taken to impose any limitations on the powers of the Corporation or its affiliates to
issue, grant, or assume options, warrants, or rights, otherwise than under this Plan, or to adopt other share option or restricted share plans or other incentives, or to impose any requirement of shareholder approval upon the same.

  

	20.5	Except as the Committee may otherwise provide, or as may otherwise be required by a deferral election pursuant to Article 13 of this Plan, the interests of any Eligible Person under
the Plan are not subject to the claims of creditors and may not, in any way, be assigned, alienated or encumbered. 

  

	20.6	The Board or the Committee may, in its sole discretion, delegate authority hereunder not already delegated by the terms hereof, including but not limited to delegating authority to
select Eligible Persons, to grant Awards, to establish terms and conditions of Awards, or to amend, manage, administer, interpret, construe or vary the Plan or any Awards or Agreements, to the extent permitted by applicable law or administrative or
regulatory rule. 

  

	20.7	The Committee may, without amending the Plan, determine the terms and conditions applicable to grants of Awards to Grantees who are foreign nationals or employed outside the United
States in a manner otherwise inconsistent with the Plan if the Board deems such terms and conditions necessary in order to recognize differences in local law or regulations, tax policies or customs. 

  

	20.8	The Plan will be governed, construed and administered in accordance with the laws of the State of Ohio, without reference to its conflict of laws provisions, and it is the intention
of the Corporation that Incentive Stock Options granted under the Plan qualify as such under Section 422 of the Internal Revenue Code and that Qualified Performance-Based Compensation granted under the Plan qualify as “qualified
performance-based compensation” as described in Section 162(m) of the Internal Revenue Code. 

  

 18

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