Document:

exv4w1

Exhibit
4.1

FORM OF FACE OF NOTE

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK, S.A./N.V.,
AS OPERATOR OF THE EUROCLEAR SYSTEM (“EUROCLEAR”) AND CLEARSTREAM BANKING, SOCIÉTÉ ANONYME,
LUXEMBOURG (“CLEARSTREAM, LUXEMBOURG” AND, TOGETHER WITH EUROCLEAR, “EUROCLEAR/CLEARSTREAM”), TO
THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR/CLEARSTREAM (AND ANY
PAYMENT IS MADE TO THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR/CLEARSTREAM), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL IN AS MUCH AS THE REGISTERED
OWNER HEREOF, THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, HAS AN INTEREST HEREIN.

			
	 	 	 
	No. 001
	 	£625,000,000

TIME WARNER CABLE INC.

53⁄4% Note due 2031

CUSIP:
88732J AZ1

ISIN: XS0630584166

Common Code: 063058416

          Time Warner Cable Inc., a Delaware corporation (such corporation or any successor under the
Indenture referred to on the reverse hereof being called the “Company”), TW NY Cable Holding Inc.,
a Delaware corporation (“TW NY”), and Time Warner Entertainment Company, L.P., a Delaware limited
partnership (“TWE” and, together with TW NY, the “Guarantors”), promise to pay to The Bank of New
York Depository (Nominees) Limited as nominee of The Bank of New York Mellon, London Branch, a
common depositary for Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme,
Luxembourg, or registered assigns, the principal sum of SIX HUNDRED
AND TWENTY FIVE MILLION POUNDS STERLING
(£625,000,000) on June 2, 2031. This Note has the benefit of unconditional guarantees by the
Guarantors, as more fully described on the reverse hereof.

	 	 	 

	          Interest Payment Date:

	 	Annually in arrears on June 2 of each year (the “Interest
Payment Date”), beginning June 2, 2012
	 
	 	 
	          Record Date:

	 	One business day prior to the Interest Payment Date.

          Additional provisions of this Note are set forth on the other side of this Note.

Dated: May
26, 2011

 

 

	 	 	 	 	 	 	 

	 	 	 	TIME WARNER CABLE INC.,
	Attest:
	 	 	 	 	 	 
	 
	 	 	 	by	 	/s/ Robert D. Marcus
	 

	 	 	 	 	 	 
	/s/ David A. Christman 

	 	 	 	 	 	Name: Robert D. Marcus
	 

	 	 	 	 	 	Title:
President and Chief Operating
Officer; Acting Chief Financial Officer

	 
	 	 	 	 	 	 
	 	 	 	TW NY CABLE HOLDING INC.,
	Attest:	 	 	as Guarantor,
	 
	 	 	 	 	 	 
	/s/ David A. Christman 

	 	 	 	by	 	/s/ Robert D. Marcus
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Robert D. Marcus
	 

	 	 	 	 	 	Title: President and Chief Operating
Officer; Acting Chief Financial Officer

	 
	 	 	 	 	 	 
	 	 	 	TIME WARNER ENTERTAINMENT COMPANY, L.P.,
	 	 	 	   as Guarantor,
	Attest:
	 	 	 	 	 	 
	/s/ David A. Christman 

	 	 	 	by	 	/s/ Robert D. Marcus
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Robert D. Marcus
	 

	 	 	 	 	 	Title: President and Chief Operating
Officer; Acting Chief Financial Officer

 

 

	 	 	 	 	 

	TRUSTEE’S CERTIFICATE OF 

     AUTHENTICATION	 	 
	 
	 	 	 	 
	This is one of the Securities of the
series designated therein referred to
in the within-mentioned Indenture. 
 

The Bank of New York Mellon, as Trustee,	 	 
	 
	 	 	 	 
	 
	by	 	 	 
	

	 	/s/ Timothy Casey 

Authorized
Signatory
	 	 
	 
	 	 	 	 
	

	Dated 	5/26/2011 

	 	 

 

 

FORM OF REVERSE SIDE OF NOTE

TIME WARNER CABLE INC.

5 3/4% Note due 2031

     1. Indenture.

          This Note (as defined below) is one of the duly authorized issue of senior debentures, notes,
bonds or other evidences of indebtedness (hereinafter called the “Debt Securities”) of the Company
of the series hereinafter specified, all issued or to be issued under and pursuant to the
Indenture, dated as of April 9, 2007, among the Company, TW NY, TWE, and The Bank of New York
Mellon, formerly known as The Bank of New York, as Trustee (herein called the “Trustee”), as
supplemented by the first supplemental indenture, dated as of April 9, 2007, between the Company,
TW NY, TWE and the Trustee and pursuant to resolutions adopted by the Offering Committee of the
Company on May 19, 2011, as authorized by the Company’s Board of Directors (as so supplemented,
the “Indenture”), to which reference is hereby made for a statement of the rights, limitations of
rights, obligations, duties and immunities thereunder of the Trustee, and any agent of the Trustee,
any Paying Agent, the Company, the Guarantors and the Holders of the Debt Securities, and the terms
upon which the Debt Securities are issued and may be authenticated and delivered.

          The Debt Securities may be issued in one or more series, which different series may be issued
in various aggregate principal amounts, may mature at different times, may bear interest (if any)
at different rates, may have different conversion prices or exchange provisions (if any), may be
subject to different redemption provisions (if any), may be subject to different sinking, purchase
or analogous funds (if any), may be subject to different covenants and Events of Default and may
otherwise vary as provided or permitted in the Indenture. This Note is one of the series of Debt
Securities of the Company issued pursuant to the Indenture designated
as the 5 3/4% Notes due
2031 (the “Notes”), initially limited in aggregate
principal amount to £625,000,000. The Company may,
without the consent of the Holders of the Notes, issue additional Notes having the same ranking,
interest rate, maturity and other terms as the Notes. Any additional Notes will, together with the
Notes, constitute a single series of the Notes under the Indenture. No additional Notes may be
issued if an Event of Default has occurred with respect to the Notes.

     2. Interest.

          The
Company promises to pay interest from May 26, 2011, on the principal amount of this Note
annually in cash in arrears on June 2 of each year, beginning June 2, 2012, in like coin or
currency, at the rate per annum specified in the title hereof.

          Interest on the Notes shall be computed on the basis of the actual number of days in the
period for which interest is being calculated and the actual number of days from and including the
date from which interest begins to accrue for the period to (or
May 26, 2011 if no interest has
been paid on the Notes), but excluding the next scheduled Interest Payment Date. If interest or
principal on this Note is payable on a date that is not a Business Day, then interest will be paid
on the first Business Day following the scheduled Interest Payment Date. Interest periods are
unadjusted. The day count convention is ACTUAL/ACTUAL (ICMA).

          “Business Day” means any day other than a Saturday or Sunday or a day on which banking
institutions in The City of New York or the City of London are authorized or required by law or
executive order to close.

 

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     3. Guarantees.

          Each of TW NY and TWE, as primary obligor and not merely as surety, irrevocably and
unconditionally guarantees, to each Holder of Notes, and to the Trustee and its successors and
assigns, (i) the full and punctual payment of principal of and interest on the Notes when due,
whether at maturity, by acceleration, by redemption or otherwise, and all other monetary
obligations of the Company under the Indenture (including obligations to the Trustee) and the Notes
and (ii) the full and punctual performance within applicable grace periods of all other obligations
of the Company under the Indenture and the Notes.

          The Guarantees constitute guarantees of payment, performance and compliance and not merely of
collection. The obligation of the Guarantors to make any payments may be satisfied by causing the
Company or any other Person to make such payments. Further, the Guarantors agree to pay any and all
costs and expenses (including reasonable attorney’s fees) incurred by the Trustee or any Holder of
Notes in enforcing any of their respective rights under the Guarantees.

     4. Issuance in Sterling.

          Principal and interest payments in respect of the Notes will be payable in Sterling. If the
United Kingdom adopts euro, in lieu of Sterling, as its lawful currency, the Notes will be
redenominated in euro on a date determined by the Company, with a principal amount for each Note
equal to the principal amount of that Note in Sterling, converted into euro at the rate established
by the applicable law; provided that, if the Company determines after consultation with the Paying
Agent that the then current market practice in respect of redenomination into euro of
internationally offered securities is different from the provisions specified above, such
provisions will be deemed to be amended so as to comply with such market practice and the Company
will promptly notify the Trustee and the Paying Agent of such deemed amendment. The Company will
give 30 days’ notice of the redenomination date to the Paying Agent, the Trustee, and
Euroclear/Clearstream.

          If Sterling or, in the event the Notes are redenominated in euro, euro is unavailable to the
Company due to the imposition of exchange controls or other circumstances beyond the Company’s
control (other than due to the circumstances described in the preceding paragraph), then all
payments in respect of the Note will be made in U.S. dollars until Sterling or euro, as the case
may be, is again available to the Company. The amount payable on any date in Sterling or, in the
event the Notes are redenominated in euro, euro will be converted to U.S. dollars on the basis of
the then most recently available market exchange rate for Sterling or euro, as the case may be.
Any payment in respect of the Note so made in U.S. dollars will not constitute an event of default
under the Indenture.

     5. Method of Payment.

          The
interest so payable, and punctually paid or duly provided for, on any
June 2 will,
except as provided in the Indenture, be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on the Business Day immediately
preceding the Interest Payment Date (herein called the “Regular Record Date”) and may, at the
option of the Company, be paid by check mailed to the registered address of such Person. Any such
interest which is payable, but is not so punctually paid or duly provided for, shall forthwith
cease to be payable to the registered Holder on such Regular Record Date and may be paid either to
the Person in whose name this Note (or one or more Predecessor Securities) is registered at the
close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of Notes not less than 10 days prior to
such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent
with the requirements of the New York Stock Exchange (the “NYSE”) on which the Notes will be listed
and upon such notice as may be required by the NYSE, if such manner of payment shall be deemed
practicable by the Trustee, all as more fully provided in the Indenture.

 

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     6. Paying Agent.

          Initially, The Bank of New York Mellon, London Branch will act as Paying Agent. The Company
reserves the right at any time to vary or terminate the appointment of any Paying Agent, to appoint
additional or other Paying Agents and to approve any change in the office through which any Paying
Agent acts.

     7. Optional Redemption.

          The Company will have the right at its option to redeem any of the Notes in whole or in part,
at any time or from time to time prior to their maturity, on at least 30 days, but not more than 60
days, prior notice mailed to the registered address of each Holder of Notes, at a redemption price
equal to the greater of (i) 100% of the principal amount of such Notes and (ii) the sum of the
present values of the Remaining Scheduled Payments (as defined below) (exclusive of interest
accrued to the date of redemption) discounted to the redemption date on an annual basis
(ACTUAL/ACTUAL (ICMA)) at the Comparable Government Bond Rate plus 30 basis points plus, in each
case, accrued and unpaid interest thereon to, but not including, the date of redemption.

          “Comparable Government Bond Rate” means the price, expressed as a percentage (rounded to three
decimal places, 0.0005 being rounded upwards), at which the gross redemption yield (as calculated
by the Trustee) on the Notes, if they were to be purchased at such price on the third Business Day
prior to the date fixed for redemption, would be equal to the gross redemption yield on such
Business Day of the Comparable Government Bond (as defined below) on the basis of the middle market
price of the Comparable Government Bond prevailing at 11:00 a.m. (London time) on such Business Bay
as determined by an independent investment bank selected by us.

          “Comparable Government Bond” means, in relation to any Comparable Government Bond Rate
calculation, at the discretion of an independent investment bank selected by us, a United Kingdom
government bond whose maturity is closest to the maturity of the Notes, or if such independent
investment bank in its discretion considers that such similar bond is not in issue, such other
United Kingdom government bond as such independent investment bank may, with the advice of three
brokers of, and/or market makers in, United Kingdom government bonds selected by such independent
investment bank, determine to be appropriate for determining the Comparable Government Bond Rate.

          “Remaining Scheduled Payments” means, with respect to each Note to be redeemed, the remaining
scheduled payments of the principal thereof and interest thereon that would be due after the
related redemption date but for such redemption; provided, however, that,
if such redemption date is not an interest payment date with respect to such Note , the amount of
the next succeeding scheduled interest payment thereon will be deemed to be reduced by the amount
of interest accrued thereon to such redemption date.

          On and after the redemption date, interest will cease to accrue on the Notes or any portion
thereof called for redemption (unless the Company defaults in the payment of the redemption price
and accrued interest). On or before the redemption date, the Company shall deposit with the Trustee
money sufficient to pay the redemption price of and (unless the redemption date shall be an
Interest Payment Date) accrued and unpaid interest to the redemption date on the Notes to be
redeemed on such date. If less than all of the Notes are to be redeemed, the Notes to be redeemed
shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate.
Additionally, the Company may at any time repurchase Notes in the open market and may hold or
surrender such Notes to the Trustee for cancellation.

 

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     8. Redemption for Tax Reasons.

          If, as a result of any change in, or amendment to, the laws (or any regulations or rulings
promulgated under the laws) of the United States (or any taxing authority in the United States), or
any change in, or amendments to, an official position regarding the application or interpretation
of such laws, regulations or rulings, which change or amendment is announced or becomes effective
on or after May 19, 2011 the Company becomes or, based upon a written opinion of independent
counsel selected by the Company, will become obligated to pay additional amounts as described below
with respect to the Notes, then the Company may at any time at its option redeem, in whole, but not
in part, the Notes on not less than 30 nor more than 60 days prior notice, at a redemption price
equal to 100% of their principal amount, together with accrued and unpaid interest on those Notes
to, but not including, the date fixed for redemption.

     9. Payment of Additional Amounts.

          The Company will, subject to the exceptions and limitations set forth below, pay as additional
interest on the Notes such additional amounts as are necessary in order that the net payment by the
Company or the Paying Agent of the principal of and interest on the Notes to a Holder who is not a
United States person (as defined below), after withholding or deduction for any present or future
tax, assessment or other governmental charge imposed by the United States or a taxing authority in
the United States will not be less than the amount provided in the Notes to be then due and
payable; provided, however, that the foregoing obligation to pay additional amounts shall not
apply:

	 	(1)	 	to any tax, assessment or other governmental charge that
would not have been imposed but for the Holder, or a fiduciary, settlor,
beneficiary, member or shareholder of the Holder if the Holder is an estate,
trust, partnership or corporation, or a person holding a power over an estate
or trust administered by a fiduciary holder, being considered as:

	 	(a)	 	being or having been engaged in a trade or
business in the United States or having or having had a permanent
establishment in the United States;
	 
	 	(b)	 	having a current or former connection with
the United States (other than a connection arising solely as a result
of the ownership of the Notes, the receipt of any payment or the
enforcement of any rights hereunder), including being or having been
a citizen or resident of the United States;
	 
	 	(c)	 	being or having been a personal holding
company, a passive foreign investment company or a controlled foreign
corporation with respect to the United States or a corporation that
has accumulated earnings to avoid United States federal income tax;
	 
	 	(d)	 	being or having been a “10-percent
shareholder” of the Company as defined in section 871(h)(3) of the
United States Internal Revenue Code of 1986, as amended (the “Code”)
or any successor provision; or
	 
	 	(e)	 	being a bank receiving payments on an
extension of credit made pursuant to a loan agreement entered into in
the ordinary course of its trade or business;

 

5

	 	(2)	 	to any Holder that is not the sole beneficial owner of the
Notes, or a portion of the Notes, or that is a fiduciary, partnership or
limited liability company, but only to the extent that a beneficiary or
settlor with respect to the fiduciary, a beneficial owner or member of the
partnership or limited liability company would not have been entitled to the
payment of an additional amount had the beneficiary, settlor, beneficial owner
or member received directly its beneficial or distributive share of the
payment;
	 
	 	(3)	 	to any tax, assessment or other governmental charge that
would not have been imposed but for the failure of the Holder or any other
person to comply with certification, identification or information reporting
requirements concerning the nationality, residence, identity or connection
with the United States of the Holder or beneficial owner of the Notes, if
compliance is required by statute, by regulation of the United States or any
taxing authority therein or by an applicable income tax treaty to which the
United States is a party as a precondition to exemption from such tax,
assessment or other governmental charge;
	 
	 	(4)	 	to any tax, assessment or other governmental charge that is
imposed otherwise than by withholding by the Company or the Paying Agent from
the payment;
	 
	 	(5)	 	to any tax, assessment or other governmental charge that
would not have been imposed but for a change in law, regulation, or
administrative or judicial interpretation that becomes effective more than 15
days after the payment becomes due or is duly provided for, whichever occurs
later;
	 
	 	(6)	 	to any estate, inheritance, gift, sales, excise, transfer,
wealth, capital gains or personal property tax or similar tax, assessment or
other governmental charge;
	 
	 	(7)	 	to any withholding or deduction that is imposed on a payment
to an individual and that is required to be made pursuant to any law
implementing or complying with, or introduced in order to conform to, any
European Union Directive on the taxation of savings;
	 
	 	(8)	 	to any tax, assessment or other governmental charge required
to be withheld by any paying agent from any payment of principal of or
interest on any Note, if such payment can be made without such withholding by
at least one other paying agent;
	 
	 	(9)	 	to any tax, assessment or other governmental charge that
would not have been imposed but for the presentation by the Holder of any
Note, where presentation is required, for payment on a date more than 30 days
after the date on which payment became due and payable or the date on which
payment thereof is duly provided for, whichever occurs later; or
	 
	 	(10)	 	in the case of any combination of items (1), (2), (3), (4),
(5), (6), (7), (8) and (9).

          The Notes are subject in all cases to any tax, fiscal or other law or regulation or
administrative or judicial interpretation applicable to the Notes. Except as specifically provided
under this section “Payments of Additional Amounts,” the Company will not be required to make any
payment for

 

6

any tax, assessment or other governmental charge imposed by any government or a political
subdivision or taxing authority of or in any government or political subdivision.

          As used under this section “Payments of Additional Amounts” and under Section 8 “Redemption
for Tax Reasons”, the term “United States” means the United States of America (including the states
and the District of Columbia and any political subdivision thereof), and the term “United States
person” means any individual who is a citizen or resident of the United States for U.S. federal
income tax purposes, a corporation, partnership or other entity created or organized in or under
the laws of the United States, any state of the United States or the District of Columbia (other
than a partnership that is not treated as a United States person under any applicable Treasury
regulations), or any estate or trust the income of which is subject to United States federal income
taxation regardless of its source.

     10. Defaults and Remedies.

          If an Event of Default with respect to the Notes shall occur and be continuing, the principal
of all the Notes and all accrued interest thereon may be declared due and payable in the manner,
with the effect and subject to the conditions provided in the Indenture. Any payment by the Company
in respect of the Notes so made in U.S. dollars will not constitute an Event of Default under the
Indenture.

     11. Supplemental Indentures.

          The Indenture permits, with certain exceptions as therein provided, the Company and the
Trustee to enter into supplemental indentures to the Indenture for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of
modifying in any manner the rights of the Holders of the Debt Securities of each series under the
Indenture with the consent of the Holders of not less than a majority in principal amount of the
Debt Securities at the time Outstanding of all Series to be affected thereby (acting as one class).

     12. Consent and Waiver.

          The Indenture also permits the Holders of a majority in principal amount of the Debt
Securities at the time Outstanding of each series on behalf of the Holders of all Debt Securities
of such series to waive compliance by the Company with certain provisions of the Indenture and
certain past defaults and their consequences with respect to such series under the Indenture. Any
such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder
and upon all future Holders of this Note and of any Note issued upon the registration of transfer
hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or waiver
is made upon this Note or such other Note. The Indenture also permits the release of a Guarantor
from its obligations under its Guarantee in certain circumstances without the consent of the
Holders of the Debt Securities.

     13. Obligations of the Company and the Guarantors.

          No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal and any premium of and any interest on this Note at the place, rate and respective times
and in the coin or currency prescribed herein and in the Indenture.

          As provided in the Indenture and subject to the satisfaction of certain conditions therein set
forth, including the deposit of certain trust funds in trust, at the Company’s option, either (i)
the Company and the Guarantors shall be deemed to have paid and discharged the entire indebtedness
represented by, and the obligations under, the Debt Securities of any series and to have satisfied
all the obligations (with certain exceptions) under the Indenture relating to the Debt Securities
and the Guarantees

 

7

of such series or (ii) the Company and the Guarantors shall cease to be under any obligation
to comply with any term, provision or condition of certain restrictive covenants or provisions set
forth in any additions or changes to or deletions from covenants and Events of Default with respect
to the Debt Securities and the Guarantees of such series.

     14. Denominations; Transfer; Exchange.

          The Notes are issuable in registered form without coupons, in a minimum denomination of
£50,000 and integral multiples of £1,000 in excess thereof. A Holder shall register the transfer
of or exchange Notes in accordance with the Indenture. The Company may require a Holder, among
other things, to furnish appropriate endorsements and transfer documents and to pay certain
transfer taxes or similar governmental charges payable in connection therewith as permitted by the
Indenture.

     15. Persons Deemed Owners.

          Subject to the provisions of the Indenture, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name this Note is registered as the owner
hereof for all purposes, whether or not this Note is overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.

     16. Defined Terms.

          Unless otherwise defined herein, all terms used in this Note which are defined in the
Indenture shall have the meanings assigned to them in the Indenture.

     17. Governing Law.

          THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK.

     18. Authentication.

          Unless the certificate of authentication hereon has been manually executed by or on behalf of
the Trustee under the Indenture, this Note shall not be entitled to any benefits under the
Indenture, or be valid or obligatory for any purpose.

     19. Copies.

          The Company will furnish to any Holder upon written request and without charge to the Holder a
copy of the Indenture. Requests may be made to Time Warner Cable Inc., 60 Columbus Circle, New
York, NY 10023, Attention of Investor Relations.

 

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SCHEDULE OF EXCHANGES OF SECURITIES

     The following exchanges or redemptions of a part of this Global Security have been made:

	 	 	 	 	 
	 	 	Amount of Decrease in	 	Amount of Increase in
	 	 	Principal Amount	 	Principal Amount
	 	 	of this	 	of the
	Date of Transaction	 	Global Security	 	Global Security
	 
	 	 
	 	 

 

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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 ID no.)

	 	 

 

 

 

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

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

 

	 	 	 

	Date:                      Your Signature:

	 	 
	 

	 	 

 

(Sign exactly as your name appears on the other side of this Note)Exhibit 10.1

Exhibit 10.1

“Change in Control” shall mean the occurrence of any of the following: (i) any “person” (as such
term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes a “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the
Corporation representing 30% or more of the voting power of the then outstanding securities of the
Corporation; (ii) during any period of two consecutive calendar years there is a change of 25% or
more in the composition of the Board in office at the beginning of the period except for changes
approved by at least two-thirds of the Directors then in office who were Directors at the beginning
of the period; (iii) the consummation of (A) a merger or consolidation of the Corporation with
another corporation where the stockholders of such corporation, immediately after the merger or
consolidation, own shares entitling such stockholders to 50% or more of all votes (without
consideration of the rights of any class of stock to elect Directors by separate class vote) to
which all stockholders of the corporation issuing cash or securities in the merger or consolidation
would be entitled in the election of directors or where the members of the board of directors of
such corporation, immediately after the merger or consolidation, constitute a majority of the board
of directors of the corporation issuing cash or securities in the merger or consolidation, or (B)
the sale or other disposition of all or substantially all the assets of the Corporation, or a
liquidation, dissolution or statutory exchange of the Corporation; or (iv) the consummation of a
tender offer or exchange offer for 30% or more of the voting power of the then-outstanding
securities of the Corporation.

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