Document:

Exhibit 10.1

 Exhibit 10.1 
 Lockheed Martin Corporation 
 Severance Benefit Plan For Certain Management Employees 

Originally Effective January 1, 2008 
 Amended and Restated Effective June 26, 2008 
 Amended and Restated Effective December 31,
2010 
 Amended and Restated Effective April 3, 2012 
 This document sets forth the terms of the Lockheed Martin Corporation Severance Benefit Plan for Certain Management Employees (the “Plan”). The Plan provides benefits to Eligible Employees who leave the
employment of the Corporation as a result of an Executive Layoff Event and otherwise satisfy the eligibility requirements of the Plan. The Plan is intended to constitute an employee welfare benefit plan under the Employee Retirement Income Security
Act of 1974 (“ERISA”) that provides severance benefits to a select group of management or highly compensated employees. 
  

	1.	Definitions. The following terms when capitalized have the following meaning: 

 

	 	(a)	Affiliate – Any person, any corporation, association, partnership, joint venture or other business entity of which 50% or more of the voting stock or other equity
interests (in the case of entities other than corporations), is owned or controlled (directly or indirectly) by the Company or by one or more of its Affiliates, or by a combination thereof. 

 

	 	(b)	Annual Base Pay – An amount equal to fifty-two (52) weeks of Base Pay. 

 

	 	(c)	Base Pay – The Employee’s weekly salary at the time of the Employee’s Termination of Employment. Base Pay shall not include management incentive
compensation, overtime or any other additions to salary. 

  

	 	(d)	Basic Severance Benefit – The benefit payable under Section 5(a) of the Plan. 

 

	 	(e)	 Cause – Any of the following: (i) Commission of a crime that the Company determines could harm the Company’s reputation or financial
prospects or could subject the Company to penalties or sanctions; (ii) A violation of any of the Company’s corporate policy statements that involve compliance with law which violation the Company determines could harm the Company’s
reputation or financial prospects; (iii) A violation of the Company’s Code of Ethics and Business Conduct that the Company determines could harm the Company’s reputation or financial prospects; (iv) Refusal to cooperate with the
Company in a Company investigation; or (v) Any similar conduct with respect to which the Company determines in its sole discretion that the payment of a benefit under the Plan would not be in the

  

					
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Company’s best interest. 

  

	 	(f)	Claims Administrator – The Committee, in the case of an Officer, and the Savings Plan Administrative Committee, in the case of any other Employee.

  

	 	(g)	Committee – The Management Development and Compensation Committee of the Company’s Board of Directors. 

 

	 	(h)	Company – Lockheed Martin Corporation. For the purposes of the Plan, the term “Company” shall include any successor entity (by merger or otherwise).

  

	 	(i)	Eligible Employee – An Employee who satisfies the requirements for eligibility for coverage under Section 3 and who is not covered by any of the exceptions
described in Section 4. 

  

	 	(j)	Employee – An individual who is employed by the Company and is treated on the Company’s payroll records as a salaried employee of the Company. The term
“Employee” includes an Officer but does not include anyone who is not a citizen or resident of the United States and whose duties are primarily performed outside the United States. 

 

	 	(k)	Executive Layoff Event – Termination of Employment of an Eligible Employee that is (i) initiated by the Company for reasons other than for Cause; and
(ii) designated by the Board of Directors in the case of an Officer, or the Senior Vice President, Human Resources in the case of any Eligible Employee other than an Officer, as an Executive Layoff Event. An Executive Layoff Event does not
include a termination that is described in Section 4. 

  

	 	(l)	Follow-on Benefits – A payment equal to the cost to the Eligible Employee of continuing for one year his or her coverage under the Company’s medical, dental and
vision plans under the plans and with the same level of coverage as elected by the Eligible Employee during open enrollment for the Plan Year in which the Executive Layoff Event occurs (but excluding flexible spending account plans). The amount will
be equal to the cost charged Employees for coverage provided by the Company pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1987 (COBRA coverage). 

 

	 	(m)	Full Bonus Equivalent – An amount equal to an Eligible Employee’s Annual Base Pay multiplied by the target level assigned to the Eligible Employee under
Paragraph B of Exhibit A to the Lockheed Martin Corporation 2006 Management Incentive Compensation Plan (Performance-Based) or any successor plan. 

  

	 	(n)	Long Term Incentive Performance Award – A cash award under the Lockheed Martin Corporation Amended and Restated 2003 Incentive Performance Award Plan or any successor
plan that measures performance over a three year cycle. 

  

	 	(o)	Officer – An Employee who is elected as an officer of the Company by the Board of Directors. 

  

					
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	 	(p)	Plan Administrator – Lockheed Martin Corporation. 

  

	 	(q)	Plan Year – The 12-month period beginning on January 1 each year and ending on the following December 31. 

 

	 	(r)	Prorated Bonus Equivalent – An amount equal to (i) an Eligible Employee’s Base Pay multiplied by the target percentage assigned to the Eligible Employee
under Paragraph B of Exhibit A to the Lockheed Martin Corporation 2006 Management Incentive Compensation Plan (2006) (or any successor plan), and (ii) then multiplying the product obtained under (i) by the number of full weeks for
which the Eligible Employee was employed by the Company in the Plan Year in which the Executive Layoff Event occurs. 

  

	 	(s)	Salaried Employee Plan – The Severance Benefit Plan for Employees of Lockheed Martin Corporation or any successor plan that provides benefits in the case of a layoff
or reduction in force to salaried employees of the Company or its Affiliates. 

  

	 	(m)	Severance Benefit – Benefits payable under the Plan which could be a Basic Severance Benefit or a Supplemental Severance Benefit. 

 

	 	(n)	Supplemental Severance Benefit – The benefit payable under Section 5(b) of the Plan. 

 

	 	(o)	Termination of Employment – A separation from service as such term is defined in Code section 409A and the regulations thereunder. 

 

	 	(p)	Years of Service – The number of consecutive calendar months from (and including) the month of the Eligible Employee’s date of hire through and including the
month in which the applicable Employee’s Executive Layoff Event occurs, divided by 12, subject to the following: 

  

	 	(i)	Service Limited to Whole Years. Fractional Years of Service will be disregarded, so that only full Years of Service will be recognized. The only exception relating to
fractional years of service pertains to Eligible Employees who have more than six months of service, but less than a full year of service, in which case the Years of Service will be calculated as one year. 

 

	 	(ii)	Certain Periods of Leave. Time periods of leave during the Employee’s employment that do not or would not qualify for credited service under the pension plan
applicable to the Eligible Employee will be deducted from the total period of employment to calculate the Eligible Employee’s Years of Service; 

  

	 	(iii)	An Eligible Employee’s Years of Service under the foregoing rules shall never exceed the actual number of full years worked by the Employee for the Company.

  

					
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	2.	Effective Date. The Plan shall be effective with respect to Executive Layoff Events that occur and are announced on or after January 1, 2008.

  

	3.	Eligibility for Coverage. An Employee shall be eligible for coverage under the Plan if the Employee satisfies all of the following: 

 

	 	(a)	At the time of the Executive Layoff Event, the Employee is either 

  

	 	(i)	an Officer, 

  

	 	(ii)	an Employee who has been granted a Long Term Incentive Performance Award for which a performance cycle is still ongoing; or 

 

	 	(iii)	an Employee who is designated in writing by the Senior Vice President, Human Resources to participate in the Plan. 

 

	 	(b)	The Employee has not waived coverage under the Plan; 

  

	 	(c)	The Employee is not receiving a benefit under the Salaried Employee Plan and is not a party to another plan, agreement or arrangement providing severance or similar benefits on
account of termination of employment; 

  

	 	(d)	The Employee is not disqualified for a Severance Benefit because the Employee’s Termination of Employment is on account of one of the exceptions set forth in Section 4;
and 

  

	 	(e)	The Senior Vice President, Human Resources determines in his or her sole discretion that the Employee’s employment has terminated or will terminate on account of Executive
Layoff Event. In the case of an Officer, this determination will be made by the Committee in its sole discretion. 

  

	4.	Exceptions To Coverage As An Executive Layoff Event. Notwithstanding Section 3 or anything else to the contrary, an Employee’s termination of employment will not
be considered to have occurred on account of an Executive Layoff Event and the Employee will not be entitled to a Severance Benefit if: 

  

	 	(a)	the Employee is transferred to or assumes another position within the Company or with any Affiliate; 

 

	 	(b)	 the Employee is transferred to, assumes, or is offered a job or position with (A) a purchaser of stock of the Company, or of assets of the Company, or of a
business unit(s) of the Company, or of stock or other equity interests or assets of an Affiliate(s) or of a business unit(s) of an Affiliate; (B) the surviving entity following a merger or consolidation of the Company or an Affiliate(s) with
another entity; (C) an entity 

  

					
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serving as a contractor or a succeeding contractor (including a subcontractor or outsourcer) for business or functions performed by the Company; (D) an entity including but not limited to a
joint venture, limited liability company or partnership to whom control of a business unit, organization or function within the Company or a business unit of the Company or of an Affiliate, or contract is transferred, whether by a stock or asset
sale or other means; or (E) an affiliate of any such purchaser, contractor, succeeding contractor, subcontractor, outsourcer or entity; 

  

	 	(c)	the Employee is terminated for Cause; or 

  

	 	(d)	the Employee terminates employment on his or her own initiative including retirement, resignation, failure to return from leave of absence or disability, or dies. If an Employee
elects to retire concurrent with an Executive Layoff Event, then the Employee will not fall within this exception to coverage. 

  

	5.	Calculation of Severance Benefit. 

  

	 	(a)	Basic Severance Benefit Applicable to all Eligible Employees. The Basic Severance Benefit payable to an Eligible Employee shall equal two weeks of the Eligible
Employee’s Base Pay. 

  

	 	(b)	Supplemental Severance Benefit. The following Supplemental Severance Benefits are in addition to the Basic Severance Benefit and are available only to Eligible Employees
who within 45 calendar days of the Eligible Employee’s Termination of Employment as a result of an Executive Layoff Event execute both (i) a valid and binding written release of the Company and its directors, officers and Employees of
claims of any kind or nature in respect of the Employee’s employment with the Company and any predecessor employer (and each of their affiliates) in the form supplied by the Company; and do not revoke any such release of claims within any
revocation period provided for in the release of claims, and (ii) Post-Employment Conduct Agreement substantially in the form attached to the Plan as Exhibit A and as amended to reflect specific jurisdictional or other requirements.

  

	 	i.	For the Chief Executive Officer – a lump sum payment equal to the sum of 2.99 times Annual Base Pay plus 2.99 times Full Bonus Equivalent plus Follow-on Benefits.

  

	 	ii.	For an Officer other than the Chief Executive Officer – a lump sum payment equal to the sum of Annual Base Pay plus Full Bonus Equivalent plus Follow-on Benefits.

  

	 	iii.	 For an Eligible Employee who has received a Long Term Incentive 

  

					
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Performance Award for which the performance period has not concluded or any other Eligible Employee and is not covered by Section 5(b)(i) or (ii) above – a lump sum payment equal
to the sum of (a) the product of the number of full Years of Service (up to a maximum of 26) credited to the Eligible Employee multiplied by the Eligible Employee’s weekly rate of Base Pay at the time of termination of employment, plus
(b) the Eligible Employee’s Pro Rata Bonus Equivalent, plus (c) Follow-on Benefits. 

  

	 	iv.	In addition to the applicable amount specified in Section (b) (i), (ii), or (iii) above, an Eligible Employee who is receiving a Supplemental Severance Benefit also
will be eligible to receive (a) outplacement services for one year (or, with respect to Eligible Employees who are not Officers, the cash value of the outplacement services as set forth in Section 5(c)(iii)(1), if applicable); and
(b) if the Eligible Employee relocated in order to fill the position held by the Eligible Employee at the time of the Executive Layoff Event, he or she will also be eligible for relocation services in accordance with CPS 538 (or, with respect
to Eligible Employees who are not Officers and who relocated pursuant to CPS 538 after December 31, 2007, the cash payment set forth in Section 5(c)(iii)(2), if applicable). 

 

	 	(c)	Timing of Payment of Severance Benefit – The amount of the Severance Benefit payable under Section 5(a) and Section 5 (b)(i), (ii) or (iii) above
will be paid in a lump sum, less applicable tax withholdings as follows: 

  

	 	i.	In the case of payment of a Basic Severance Benefit, as soon as practicable following the Eligible Employee’s Executive Layoff Event (and the expiration of any applicable
revocation period thereunder without revocation of such release of claims), but in no event later than the March 15 immediately following the year in which the Eligible Employee’s Executive Layoff Event; and 

 

	 	ii.	 In the case of payment of a Supplemental Severance Benefit, as soon as practicable following the Eligible Employee’s (a) Executive Layoff Event, and
(b) execution of a release of claims following such Executive Layoff Event, but in no event later than the March 15 immediately following the year in which the Eligible Employee’s Executive Layoff Event occurs. Outplacement and
relocation expenses paid as part of the Supplemental Severance Benefit will be provided by a third party provider selected by 

  

					
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the Company. Outplacement or relocation expenses will be paid by the Company to the third party providing the services following billing to the Company and must be incurred no later than
December 31 of the second year following the year in which the Eligible Employee’s Executive Layoff Event occurred and paid by the Company no later than December 31 of the third year following the year in which the Eligible
Employee’s termination of employment occurred. 

  

	 	iii.	Notwithstanding the foregoing, for Executive Layoff Events occurring between March 1, 2012 and December 31, 2013: 

 

	 	1.	an Eligible Employee other than an Officer may elect to receive (in lieu of outplacement services) a cash payment equal to the value of the outplacement services (determined by
the Company in its discretion and capped at $10,000 for Level 7 Directors and $15,000 for Level 8 Vice Presidents). 

  

	 	2.	an Eligible Employee who is not an Officer and who relocated pursuant to CPS 538 after December 31, 2007 may elect to receive (in lieu of relocation services) a cash payment
in the amount of $75,000. 

  

	 	(d)	The cash payments described in this Section 5(c)(iii) will be paid (less applicable tax withholdings) at the same time and on the same terms and conditions as the
Supplemental Severance Benefit. The elections described in this Section 5(c)(iii) shall be made at such time and in such manner as determined by the Company in its sole discretion. If no such election is made, the Eligible Employee shall remain
eligible for outplacement and relocation services as set forth in Section 5(c)(ii), and the amounts paid by the Company for such services shall be reported as taxable income to the Eligible Employee. 

 

	 	(e)	Maximum Benefit Payable – Notwithstanding anything in the Plan to the contrary, if the total amount of benefits, including Plan benefits, provided to an Eligible
Employee would result in an “excess parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, the Company, in its sole discretion, may reduce the benefits provided under the Plan so
that the total payment will not result in an excess parachute payment to the Eligible Employee. 

  

	 	(f)	 Specified Employees – The benefits under this Plan are intended to meet the exceptions under Code section 409A for short term deferrals, involuntary
severance payments, 

  

					
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and/or benefits payable within a limited time after separation from service. However, to the extent any benefit payable under this Plan to an Eligible Employee who is a “specified
employee” (as defined in Code section 409A) is subject to Code section 409A, such benefit payment shall be delayed until 6 months following the month in which the Eligible Employee has a Termination of Employment from the Company.

  

	6.	Further Conditions on Payment of Severance Benefit. 

  

	 	(a)	 The Company retains the right to condition payment of a Basic Severance Benefit or Supplemental Severance Benefit upon the Eligible Employee maintaining fully
satisfactory work performance until the effective date of the Eligible Employee’s Executive Layoff Event as agreed to by the Company, including the Eligible Employee’s faithful performance of any remaining obligations the Eligible Employee
may owe to the Company such as prompt reimbursement to the Company for cash advances and debit balances and the return of all Company property. To the extent the Eligible Employee fails to maintain fully satisfactory work performance until the
effective date of the Eligible Employee’s Executive Layoff Event, such Eligible Employee shall forfeit his or her Basic Severance Benefit and/or Supplemental Severance Benefit, in their entirety, to the extent of any such benefit. 

  

	 	(b)	In the event an Eligible Employee who is entitled to a Supplemental Severance Benefit becomes employed by the Company (or an Affiliate) prior to the first anniversary of his or
her Executive Layoff Event, the Eligible Employee shall be obligated to repay to the Company an amount equal to the amount of the Employee’s Supplemental Severance Benefit multiplied by a fraction, the numerator of which is the number of weeks
(capped at 52) in the one-year period following the Employee’s termination of employment during which the Employee is employed by the Company and the denominator of which is (i) fifty-two (52), in the case of an Officer; and
(ii) twenty-six (26) in the case of any other Eligible Employee. 

  

	 	(c)	If an Eligible Employee dies after his or her Termination of Employment, but before payment of a Basic Severance Benefit is made, the Basic Severance Benefit will be paid to his
or her estate. If an Eligible Employee dies after he or she has signed the release of claims and the release of claims is delivered to the Company within the time limit provided in Section 5(b) of the Plan, then the Supplemental Severance
Benefit will be paid to his or her estate. 

  

	 	(d)	 The benefits under the Plan are in lieu of, and not in addition to, any other severance

  

					
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or similar benefits for which the Eligible Employee may be eligible under any Company plan, policy, agreement or arrangement (including but not limited to the Salaried Employee Plan). As a
condition to receiving a benefit under the Plan, the Company may require that the Eligible Employee waive rights under all other plans, policies, agreements or arrangements providing severance or similar benefits or may reduce the amount payable
under the Plan by the amount payable under any other such plan policy, agreement or arrangement. In no event shall the Company’s administration of the Plan in accordance with the preceding sentence operate to delay payment of a benefit under
the Plan to an Eligible Employee beyond March 15th immediately following
the year in which such Eligible Employee’s Executive Layoff Event occurs. 

  

	7.	 Administration. The Company may appoint or employ such persons as it deems necessary to render advice with respect to any responsibility of the Company
under the Plan. The Committee, with respect to Officers, and the Savings Plan Administrative Committee, with respect to all other Employees shall determine the eligibility of any Employee to participate in the Plan and the right of any Employee to any benefit and the amount of any benefit
payable under the Plan to any individual. The Committee and the Savings Plan Administrative Committee shall have the discretionary authority to interpret any term of the Plan. 

 

	8.	Claims Procedure. 

  

	 	(a)	The Senior Vice President, Human Resources shall notify each Eligible Employee who has been determined to have incurred an Executive Layoff Event and who is eligible to receive
benefits under the Plan and shall provide any forms required in connection with application for such benefits. If any Employee disagrees with determination of his or her benefits, the Employee may submit a written statement to the Claims
Administrator describing the basis of the claim for benefits, together with any forms required in connection with application for a benefit, at any time within the 120 day period following the date on which the Employee claims to have become
entitled to the Basic Severance Benefits or the Supplemental Severance Benefits. 

  

	 	(b)	The procedures when a claim under the Plan is wholly or partially denied are as follows: 

 

	 	(i)	 The Claims Administrator shall, within 90 days after receipt of a claim, furnish to claimant a written notice setting forth, in a manner calculated to be
understood by claimant: (1) the specific reason or reasons for the denial; (2) specific reference to 

  

					
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pertinent Plan provisions on which the denial is based; (3) a description of any additional materials or information necessary for the claimant to perfect the claim and an explanation of why
such material or information is necessary; (4) an explanation of the steps to be taken if the claimant wishes to have the denial reviewed; and (5) a statement of the claimant’s right to bring a civil action under section 502(a) of
ERISA following an adverse determination on review. The 90 day period may be extended for not more than an additional 90 days if special circumstances make such an extension necessary. The Claims Administrator shall give the claimant, before the end
of the initial 90 day period, a written notice of such extension, stating such special circumstances and the date by which the Senior Vice President expects to render a decision. 

 

	 	(ii)	By a written application filed with the Claims Administrator within 60 days after receipt by claimant of the written notice described in paragraph (a), the claimant or his or her
duly authorized representative may request review of the denial of his or her claim by the Claims Administrator. 

  

	 	(iii)	In connection with review by the Claims Administrator, the claimant or his duly authorized representative may submit issues, comments, documents, records and other information
relating to the claim for benefits under the Plan to the Claims Administrator. In addition, the claimant will be provided, upon request and free of charge, reasonable access to and copies of all documents, records, or other information
“relevant” to claimant’s claim for benefits. A document, record, or other information is “relevant” if it: (1) was relied upon in making the benefit determination; (2) was submitted, considered or generated in the
course of making the benefit determination, without regard to whether such document, record or information was relied upon in making the benefit determination; or (3) demonstrates compliance with administrative processes and safeguards required
under federal law. 

  

	 	(iv)	 The Claims Administrator will provide an impartial review that takes into account all comments, records and other information submitted by the claimant relating
to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. The Claims Administrator shall make a decision and furnish such decision in writing to the claimant within 60 days after
receipt by the Claims Administrator of the request for review. This period may be extended by the Claims Administrator to not more than 120 days after such receipt if special circumstances make such an extension necessary. The claimant will be
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writing prior to the expiration of the original 60 day period if such an extension is required, and such notice will include the reason for the extension and the date by which it is expected that
a decision will be reached. The decision on review shall be in writing, set forth in a manner calculated to be understood by the claimant and shall include: (1) the specific reasons for the decision; (2) specific reference to the pertinent
Plan provisions on which the decision is based; (3) a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other information “relevant” to
the claimant’s claim for benefits; (4) a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; (5) a statement
describing any voluntary appeal procedures and the claimant’s right to obtain information about such procedures, if any; and (6) a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA following an
adverse benefit determination on review. In the event that the Claims Administrator must make a determination of disability in order to decide a claim, the Claims Administrator shall follow the special claims procedures for disability benefits
described in Department of Labor Regulation section 2560.503-1(d). The Claims Administrator shall render a decision within a reasonable time (not to exceed 90 days) after the claimant’s request for review, rather than within 120 days as set
forth in the above paragraph. 

  

	 	(v)	In filing a claim or appeal under this Section 8, an Employee at his or her option may act through an authorized representative. 

 

	9.	Funding. The Plan shall not be funded through a trust, insurance contract or otherwise, and all benefit payments from the Plan shall be made from the general assets of the
Company. Accordingly, an Employee shall not have any claim against specific assets of the Company, and shall be only a general creditor, with respect to any rights he/she may have under the Plan. 

 

	10.	 Amendment and Termination of Plan. The Plan may be amended, in whole or in part, at any time by action of the Committee or by any authorized delegate,
without notice, except that any amendment that would change the eligibility requirements or the amount of benefits payable under the Plan must be approved by the Committee. The Plan may be terminated by action of the Committee at any time. Upon
termination of the Plan, the 

  

					
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Company shall have no further liability hereunder, and all Plan benefits (including any amounts payable to Employees who separated from service before the date of Plan termination) shall cease.

  

	11.	No Assignment. No Basic Severance Benefit or Supplemental Severance Benefit payable under the Plan may be assigned, transferred, pledged as a security for indebtedness or
otherwise encumbered, or subjected to any legal process for the payment of any claim against an Employee. 

  

	12.	Relationship to Other Benefits. An Employee’s Basic Severance Benefit or Supplemental Severance Benefit shall not be taken into account to increase any benefits
provided (or to continue coverage) under any other plan, policy, or arrangement of the Company or any Affiliate, except as otherwise expressly provided in writing in the other plan, policy, or arrangement, including accelerating vesting or other
rights under the Lockheed Martin Corporation Amended and Restated Incentive Performance Award Plan (or any successor plan). 

  

	13.	Governing Law. Except to the extent preempted by Federal law, the Plan shall be construed, administered and enforced according to the laws of the State of Maryland,
without regard to its conflict of laws provisions. Notwithstanding anything herein to the contrary, payments under this Award Agreement shall be made at a time and in a manner that satisfies the requirements of Internal Revenue Code
Section 409A. 

 The Plan has been approved by the Management Development and Compensation Committee and is effective
as of January 1, 2008. Amendments to the Plan are effective as of the date(s) set forth above. 

  

					
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 Exhibit A 
 Post-Employment Conduct Agreement 
 [Will vary by state and current legal and professional requirements
at time of termination] 
 This Post Employment Conduct Agreement dated
[            ] (this “PECA”), together with the Release of Claims being entered into contemporaneous with this PECA, is entered into in consideration of the payment
(“Severance Payment”) to be made to me under the Lockheed Martin Corporation Severance Benefit Plan for Certain Management Employees (“Severance Plan”). By signing below, I agree as follows: 

(a) Restrictions Following Termination of Employment. 

(a) Covenant Not To Compete – Without the express written consent of the [Chief Executive Officer/Senior Vice
President, Human Resources]1 of
the Company, during the [two/one]2 -year period following the date of my termination of employment with the Company (“Termination Date”), I will not, directly or indirectly, be employed by, provide services to, or advise a
“Restricted Company” (as defined in Section 6 below), whether as an employee, advisor, director, officer, partner or consultant, or in any other position, function or role that, in any such case, 

 

	 	(i)	oversees, controls or affects the design, operation, research, manufacture, marketing, sale or distribution of “Competitive Products or Services” (as defined in
Section 6 below) of or by the Restricted Company, or 

  

	 	(ii)	would involve a substantial risk that the “Confidential or Proprietary Information” (as defined in Section 1(c) below) of the Company (including but not
limited to technical information or intellectual property, strategic plans, information relating to pricing offered to the Company by vendors or suppliers or to prices charged or pricing contemplated to be charged by the Company, information
relating to employee performance, promotions or identification for promotion, or information relating to the Company’s cost base) could be used to the disadvantage of the Company. 

(b) Non-Solicit – Without the express written consent of the [Chief Executive Officer/Senior Vice President,
Human Resources]1 of the Company, during the [two/one]2 -year period following the
Termination Date, I will not (i) interfere with any contractual relationship between the Company and any customer, supplier, distributor or manufacturer of or to the Company to the detriment of the Company or (ii) induce or attempt to
induce any person who is an employee of the Company to perform work or services for any entity other than the Company. 

 

	1 	 CEO for elected officers; SVP HR for others. 

	2 	 Two years for elected officers; one year for others. 

  

					
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 (c) Protection of Proprietary Information – Except to the extent required by law,
following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Company committing to hold confidential the “Confidential or Proprietary
Information” (as defined below) of the Company or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such
agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Company or others to which I had access or that I was responsible for creating or overseeing
during my employment with the Company. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or confidential information, I will
immediately notify the Company’s Senior Vice President and General Counsel as to the existence of the obligation and will cooperate with any reasonable request by the Company for assistance in seeking to protect the information. All
materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Company shall be and remain the property of the Company. For purposes of this PECA, “Confidential or
Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a person or entity desires to protect from unauthorized
disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if used by the person’s or entity’s employees or
agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

	 	(i)	existing and contemplated business, marketing and financial business information such as business plans and methods, marketing information, cost estimates, forecasts, financial
data, cost or pricing data, bid and proposal information, customer identification, sources of supply, contemplated product lines, proposed business alliances, and information about customers or competitors, or 

 

	 	(ii)	existing or contemplated technical information and documentation pertaining to technology, know how, equipment, machines, devices and systems, computer hardware and software,
compositions, formulas, products, processes, methods, designs, specifications, mask works, testing or evaluation procedures, manufacturing processes, or production processes. 

(d) No disparagement – Following the Termination Date, I will not make any statements, whether verbal or written, that disparage or
reasonably may be interpreted to disparage the Company or its stockholders, directors, officers, employees, agents, attorneys, representatives, technology, products or services with respect to any matter whatsoever. 

(e) Cooperation in Litigation and Investigations – Following the Termination Date, I will, to the extent reasonably requested,
cooperate with the Company in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Company or any of its subsidiaries or affiliates is a party or is required or requested to provide
testimony and regarding 

  

					
	EXECUTION COPY	 	14	 	

 
which, as a result of my employment with the Company, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other
provision of this PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 
 2. Consideration and Release of Claims. I acknowledge and agree that the Severance Payment being made to me is in addition to the payments or benefits that otherwise are or would be owed to me by the Company
and that the Severance Benefit being provided to me is in consideration for my entering into this PECA and the Release of Claims attached to this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to
be effective and are fair and reasonable in light of the value of the payments being made to me. I further acknowledge and agree that as a result of the high level executive and management positions I have held within the Company and the access to
and extensive knowledge of the Company’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Company’s legitimate business interests. 

3. Remedies For Breach of Section 1; Additional Remedies of Clawback and Recoupment. 

(a) I agree, upon demand by the Company, to repay the Severance Payment to the Company in the event any of the following occur: 

 

	 	(i)	I breach any of the covenants in Section 1; 

  

	 	(ii)	The Company determines that either (a) my intentional misconduct or gross negligence, or (b) my failure to report another person’s intentional misconduct or gross
negligence of which I had knowledge during the period I was employed by the Company, contributed to the Company having to restate all or a portion of its financial statements filed for any period with the Securities and Exchange Commission; or

  

	 	(iii)	The Company determines that I engaged in fraud, bribery or any other illegal act or that my intentional misconduct or gross negligence (including the failure to report the acts
of another person of which I had knowledge during the period I was employed by the Company) contributed to another person’s fraud, bribery or other illegal act, which in any such case adversely affected the Company’s financial position or
reputation. 

 (b) The remedy provided in Section 3(a) shall not be the exclusive remedy available to the Company for
any of the conduct described in Section 3(a) and shall not limit the Company from seeking damages or injunctive relief. 
 4.
Injunctive Relief. I acknowledge that the Company’s remedies at law may be inadequate to protect the Company against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and,
therefore, without prejudice to any other rights and remedies otherwise available to the Company at law or in equity (including but not limited to, an action under Section 

  

					
	EXECUTION COPY	 	15	 	

 
3(a), the Company shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the requirement of the posting of any
bond or similar security. 
 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of
this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or
unenforceable, such deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication is made. 
 6. Definitions. Capitalized terms not defined in this PECA have the meaning given to them in the Severance Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below:

 (a) “Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon
Company, United Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications Corporation, the Harris Corporation, Thales, EADS North America and (i) any entity directly or indirectly controlling, controlled by,
or under common control with any of the foregoing, and (ii) any successor to all or part of the business of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar
transaction. 
 (b) “Competitive Products or Services” means products or services that compete with, or are an alternative or
potential alternative to, products sold or services provided by a subsidiary, business area, division or operating unit or business of the Company as of the Termination Date and at any time within the two-year period ending on the Termination Date;
provided, that, (i) if I had direct responsibility for the business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Company at any time within the two-year period ending on
the Termination Date, Competitive Products or Services includes the products so sold or the services so provided during that two-year period by the subsidiary, business area, division or operating unit of the Company for which I had responsibility,
and (ii) if I did not have direct responsibility for the business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Company at any time within the two-year period ending on the
Termination Date, Competitive Products or Services includes the products so sold or the services so provided by a subsidiary, business area, division or operating unit of the Company for which I had access (or was required or permitted such access
in the performance of my duties or responsibilities with the Company) to Confidential or Proprietary Information of the Company at any time during the two-year period ending on the Termination Date. 

7. Miscellaneous 
 (a) The
Severance Plan, this PECA with the attached Release of Claims constitute the entire agreement governing the terms of the Severance Payment and supersede all other prior agreements and understandings, both written

  

					
	EXECUTION COPY	 	16	 	

 
and oral, between me and the Company or any employee, officer or director of the Company concerning payments on account of my termination of employment. 

(b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. 

(c) This PECA shall inure to the benefit of the Company’s successors and assigns and may be assigned by the Company without my consent.

  

	
	SIGNED this      day of                     ,
2      .
	
	  

	(Signature)
	
	  

	(Printed Name)
	
	  

	(Title)
	
	FOR LOCKHEED MARTIN CORPORATION:
	
	  

	(Signature)
	
	  

	(Printed Name)
	
	  

	(Title)
	
	  

	(Date)

  

					
	EXECUTION COPY	 	17	 	

 [Release – Will Vary By State and Current Legal Requirements at Time of Termination] 

  

					
	EXECUTION COPY	 	18Third Supplemental Indenture

 Exhibit 4.1 
 EXECUTION VERSION 
 THIRD SUPPLEMENTAL INDENTURE 

Dated as of July 25, 2012 
 Between 
 STANLEY BLACK & DECKER, INC., 

Issuer 
 and

 HSBC BANK USA, NATIONAL ASSOCIATION, 
 Trustee 
 to 

INDENTURE 
 Dated
as of November 22, 2005 
 Providing for the Issuance of 

$750,000,000 5.75% Junior Subordinated Debentures due 2052 

 TABLE OF CONTENTS 

 
  

 

					
		  	 	PAGE	  
	 ARTICLE 1
	   

	 DEFINITIONS
	   

		
	 Section 1.01. Definition of Terms
	  	 	1	  
	 Section 1.02. Interpretation
	  	 	5	  
	
	 ARTICLE 2
	   

	 GENERAL TERMS AND
CONDITIONS OF THE DEBENTURES
	
  

		
	 Section 2.01. Designation and Principal Amount
	  	 	6	  
	 Section 2.02. Maturity
	  	 	6	  
	 Section 2.03. Form of Notes, Authentication Certificate
	  	 	6	  
	 Section 2.04. Denominations
	  	 	6	  
	 Section 2.05. Global Securities
	  	 	6	  
	 Section 2.06. Interest Rate; Interest Payment Date; Interest Calculations; Payments on Business Days
	  	 	6	  
	 Section 2.07. Paying Agent
	  	 	7	  
	 Section 2.08. Initial Authentication of Debentures
	  	 	7	  
	
	 ARTICLE 3
	   

	 DEFERRAL OF INTEREST;
RESTRICTED PAYMENTS ON DEFERRAL
	
  

		
	 Section 3.01. Optional Interest Deferral
	  	 	7	  
	 Section 3.02. Restricted Payments on Deferral
	  	 	8	  
	
	 ARTICLE 4
	   

	 REDEMPTION OF THE
DEBENTURES
	   

		
	 Section 4.01. Optional Redemption
	  	 	10	  
	 Section 4.02. Tax Event Redemption
	  	 	10	  
	 Section 4.03. Rating Agency Event Redemption
	  	 	11	  
	 Section 4.04. Redemption Procedures
	  	 	11	  
	
	 ARTICLE 5
	   

	 SUBORDINATION
	   

		
	 Section 5.01. Agreement to Subordinate
	  	 	11	  
	 Section 5.02. Default on Senior Indebtedness
	  	 	12	  
	 Section 5.03. Liquidation; Dissolution; Bankruptcy
	  	 	12	  
	 Section 5.04. Subrogation
	  	 	14	  
	 Section 5.05. Trustee to Effectuate Subordination
	  	 	15	  
	 Section 5.06. Notice by the Company
	  	 	15	  
	 Section 5.07. Rights of the Trustee; Holders of Senior Indebtedness
	  	 	15	  

  
 i 

					
	 Section 5.08. Subordination May Not Be Impaired
	  	 	16	  
	 Section 5.09. No Right to Rely on Other Covenants
	  	 	16	  
	
	 ARTICLE 6
	   

	 EVENTS OF DEFAULT
	   

		
	 Section 6.01. Events of Default
	  	 	17	  
	
	 ARTICLE 7
	   

	 U.S. SUCCESSOR CORPORATION
	   

		
	 Section 7.01. U.S. Successor Corporation
	  	 	17	  
	
	 ARTICLE 8
	   

	 APPLICABILITY OF DEFEASANCE
AND COVENANT DEFEASANCE
	   

		
	 Section 8.01. Applicability of Defeasance and Covenant Defeasance
	  	 	18	  
	
	 ARTICLE 9
	   

	 MISCELLANEOUS
	   

		
	 Section 9.01. Ratification of Indenture
	  	 	18	  
	 Section 9.02. Trustee Not Responsible for Recitals
	  	 	18	  
	 Section 9.03. Governing Law
	  	 	18	  
	 Section 9.04. Treatment of the Debentures as Debt
	  	 	18	  
	 Section 9.05. Separability
	  	 	18	  
	 Section 9.06. Counterparts
	  	 	18	  
	 Section 9.07. Amendments to Indenture
	  	 	19	  

  
 ii 

 THIS THIRD SUPPLEMENTAL INDENTURE, dated as of July 25, 2012 (this
“Supplemental Indenture”), is between Stanley Black & Decker, Inc., a Connecticut corporation (the “Company”), and HSBC Bank USA, National Association, not in its individual capacity but solely as trustee
(the “Trustee”) under the Indenture, dated as of November 22, 2005, between the Company and the Trustee (the “Indenture”). 
 W I T N E S S E T H: 
 WHEREAS, the Company executed and delivered the Indenture
to the Trustee to provide for the future issuance of the Company’s unsecured junior subordinated debt securities, to be issued from time to time in one or more series as might be determined by the Company under the Indenture, in an unlimited
aggregate principal amount which may be authenticated and delivered as provided in the Indenture; 
 WHEREAS, pursuant to the
terms of the Indenture, the Company desires to provide for the establishment of a new series of its junior subordinated debt securities under the Indenture to be known as its 5.75% Junior Subordinated Debentures due 2052 (the
“Debentures”), the form of the Debentures and the terms and conditions thereof to be set forth as provided in the Indenture and this Supplemental Indenture; and 

WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture, and all requirements necessary to
make this Supplemental Indenture a valid instrument, in accordance with its terms, and to make the Debentures, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed,
and the execution and delivery of this Supplemental Indenture has been duly authorized in all respects. 
 NOW, THEREFORE, in
consideration of the purchase and acceptance of the Debentures by the holders thereof, and for the purpose of setting forth, as provided in the Indenture, the form of the Debentures and the terms and conditions thereof, the Company covenants and
agrees with the Trustee as follows: 
 ARTICLE 1 
 DEFINITIONS 
 Section 1.01. Definition of Terms. Unless the
context otherwise requires: 
 (a) a term defined in the Indenture and not otherwise defined in this Supplemental Indenture has
the meaning set forth in the Indenture when used in this Supplemental Indenture, 

  
 1 

 (b) a term defined anywhere in this Supplemental Indenture has the same meaning throughout,
and 
 (c) all financial terms used in this Supplemental Indenture will be determined in accordance with GAAP as applied to and
reflected in the Company’s consolidated financial statements as of the relevant dates or for the relevant periods, except as expressly provided in the definitions of the terms set forth herein. 

In addition, the following terms have the following respective meanings: 

“4.25% Junior Subordinated Notes” means the 4.25% Junior Subordinated Notes due 2018 issued by the Company pursuant to
the Indenture, as supplemented by the Second Supplemental Indenture dated as of November 5, 2010, between the Company and the Trustee. 
 “Applicable Rating Agency” means any Rating Agency that (a) published a rating for the Company on the date hereof and publishes a rating for the Company at such time as a Rating
Agency Event occurs, or (b) any successor to a Rating Agency described in the preceding clause (a). 

“Company” shall have the meaning set forth in the preamble of this Supplemental Indenture. 

“Comparable Treasury Issue” means the U. S. Treasury security or securities selected by an Independent Investment Banker
as having an actual or interpolated maturity comparable to July 25, 2017 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 maturity
comparable to July 25, 2017. 
 “Comparable Treasury Price” means, with respect to any redemption date,
(a) the arithmetic average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (b) if the Company obtains fewer than four such
Reference Treasury Dealer Quotations, the arithmetic average of all such quotations for such redemption date. 

“Debentures” shall have the meaning set forth in the recitals of this Supplemental Indenture. 

“Equity Unit Transaction” means an offering of units by the Company consisting of a debt security issued by the Company
and a purchase contract or similar agreement with the Company providing for the issuance of the capital stock of the Company in which the holder of such purchase contract is obligated to purchase the capital stock of the Company on a forward basis
and the obligation to pay the purchase price for such capital stock is secured by the proceeds derived from a remarketing of the debt security and is backstopped by 

  
 2 

 
the right to put the debt security to the Company for the purchase price, or any similar offering of units or similar transaction designed to secure equity credit from a Rating Agency.

 “GAAP” means, at any date or for any period, U.S. generally accepted accounting principles, as in effect on
such date or for such period. 
 “Global Security” has the meaning set forth in Section 2.04. 

“Indenture” shall have the meaning set forth in the preamble of this Supplemental Indenture. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company; provided that if
such Reference Treasury Dealer ceases to be a Primary Treasury Dealer, the Company will substitute another Primary Treasury Dealer. 
 “Interest Payment Date” shall have the meaning set forth in the form of Debenture set forth in Exhibit A hereto. 
 “Optional Deferral Period” has the meaning set forth in Section 3.01. 
 “Purchase Contract and Pledge Agreement” means the Purchase Contract and Pledge Agreement, dated as of November 5, 2010, among the Company, The Bank of New York Mellon Trust Company,
National Association, as purchase contract agent and attorney-in-fact for holders of the purchase contracts, and HSBC Bank USA, National Association, as collateral agent, custodial agent and securities intermediary, as amended from time to time.

 “Rating Agency” means any nationally recognized statistical rating organization within the meaning of
Section 3(a)(62) of the Exchange Act. 
 “Rating Agency Event” means a change to the methodology or
criteria that were employed by an Applicable Rating Agency for purposes of assigning equity credit to securities such as the Debentures on the date hereof (the “current methodology”), which change either (a) shortens the period
of time during which equity credit pertaining to the Debentures would have been in effect had such current methodology not been changed by the Applicable Rating Agency or (b) reduces the amount of equity credit assigned to the Debentures by the
Applicable Rating Agency as compared with the amount of equity credit that such Rating Agency had assigned to the Debentures as of the date hereof. 
 “Reference Treasury Dealer” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC or Wells Fargo Securities, LLC;
provided that if any of the foregoing dealers shall cease to be a primary U.S. Government securities dealer in the U.S. (a “Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer. 

  
 3 

 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any redemption date, the arithmetic average, as determined by the Company, 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 Company by such Reference Treasury Dealer at 3:30 p.m. New York City time on the third business day preceding such redemption date. 
 “Regular Record Date” means, with respect to each Interest Payment Date, (a) the Business Day immediately preceding such Interest Payment Date so long as all of the Debentures are
represented by one or more Global Securities and (b) the first day of the calendar month in which such Interest Payment Date falls (whether or not such day is a Business Day) if any of the Debentures are no longer represented by a Global
Security. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Senior Indebtedness” means all of the obligations of the Company, whether presently existing or from time to time
hereafter incurred, created assumed or existing, to pay principal, premium, interest, penalties, fees and any other payment in respect of any of the following: (a) indebtedness for borrowed money, including, without limitation, such obligations
as are evidenced by credit agreements, notes, debentures, bonds and similar instruments; (b) obligations under synthetic leases, finance leases and capitalized leases; (c) obligations for reimbursement under letters of credit,
banker’s acceptances, security purchase facilities or similar facilities issued for the account of the Company; (d) any obligations with respect to derivative contracts, including but not limited to commodity contracts, interest rate,
commodity and currency swap agreements, forward contracts and other similar agreements or arrangements designed to protect against fluctuations in commodity prices, currency exchange or interest rates; (e) the 4.25% Junior Subordinated Notes
but only after such notes are remarketed in accordance with their terms; and (f) all obligations of the types referred to in clauses (a), (b), (c) and (d) above of others which the Company has assumed, guaranteed or otherwise becomes
liable for, under any agreement, unless, in the case of any particular indebtedness or obligation, the instrument creating or evidencing the same or the assumption or guarantee of the same expressly provides that such indebtedness or obligation is
not superior in right of payment to or is equal in right of payment with the Debentures, as the case may be; provided that trade obligations incurred by the Company in its ordinary course of business shall not be deemed to be Senior Indebtedness.

 “Supplemental Indenture” has the meaning provided in the preamble hereto. 

“Tax Event” means that the Company shall have received an opinion of a nationally recognized counsel experienced in U.S.
federal income tax matters that, as a result of (a) any amendment to, clarification of, or change, including any announced prospective change, in the laws or treaties of the U.S. or any of its

  
 4 

 
political subdivisions or taxing authorities, or any regulations under those laws or treaties, (b) an administrative action, which means any judicial decision or any official administrative
pronouncement, ruling, regulatory procedure, notice or announcement including any notice or announcement of intent to issue or adopt any administrative pronouncement, ruling, regulatory procedure or regulation, (c) any amendment to,
clarification of, or change in the official position or the interpretation of any administrative action or judicial decision or any interpretation or pronouncement that provides for a position with respect to an administrative action or judicial
decision that differs from the previously generally accepted position, in each case by any legislative body, court, governmental authority or regulatory body, regardless of the time or manner in which that amendment, clarification or change is
introduced or made known; or (d) a threatened challenge asserted in writing in connection with an audit of the Company or any of its Subsidiaries, or a publicly-known threatened challenge asserted in writing against any other taxpayer that has
raised capital through the issuance of securities that are substantially similar to the Debentures, which amendment, clarification, or change is effective or the administrative action is taken or judicial decision, interpretation or pronouncement is
issued or threatened challenge is asserted or becomes publicly-known after July 18, 2012, and there is more than an insubstantial risk that interest payable by the Company on the Debentures is not deductible, or within 90 days would not be
deductible, in whole or in part, by the Company for U.S. federal income tax purposes. 
 “Treasury Rate” means,
with respect to any redemption date, the rate per annum equal to the quarterly equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming 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. 

“Trustee” shall have the meaning set forth in the preamble of this Supplemental Indenture. 

Section 1.02. Interpretation. Each definition in this Supplemental Indenture includes the singular and the plural, and references
to the neuter gender include the masculine and feminine where appropriate. References to any statute mean such statute as amended at the time and include any successor legislation. The word “or” is not exclusive, and the words
“herein,” “hereof” and “hereunder” refer to this Supplemental Indenture as a whole. The headings to the Articles and Sections are for convenience of reference and shall not affect the meaning or interpretation of this
Supplemental Indenture. References to Articles and Sections mean the Articles and Sections of this Supplemental Indenture. 

  
 5 

 ARTICLE 2 
 GENERAL TERMS AND CONDITIONS OF THE DEBENTURES 

Section 2.01. Designation and Principal Amount. (a) There is hereby authorized under the Indenture a series of Debt
Securities designated the “5.75% Junior Subordinated Debentures due 2052.” 
 (b) The Company will initially issue
$750,000,000 aggregate principal amount of the Debentures. The Company may from time to time, without notice to or consent of the Holders of the Debentures, issue additional Debentures of the same tenor, coupon and other terms as the outstanding
Debentures, so that the additional Debentures and the then outstanding Debentures will form a single series. 
 Section 2.02.
Maturity. Subject to earlier redemption under Article 4, the principal of the Debentures is payable on July 25, 2052. 

Section 2.03. Form of Notes, Authentication Certificate. The Debentures and the Trustee’s Certificate of Authentication to be
endorsed thereon shall be substantially in the form set forth in Exhibit A hereto, with such changes therein as the officers of the Company executing the Debentures (by manual or facsimile signature) may approve, such approval to be conclusively
evidenced by their execution thereof. Except as otherwise provided herein, the Debentures shall in all respects be subject to the terms, conditions and covenants of the Indenture as supplemented by this Supplemental Indenture, including the form of
Debenture set forth as Exhibit A hereto (the terms of which are incorporated in and made a part of this Supplemental Indenture). The Debentures may be signed by the Company without a corporate seal. In the event of any inconsistency between the
provisions of this Supplemental Indenture and the provisions of the Indenture, the provisions of this Supplemental Indenture shall be controlling with respect to the Debentures. 

Section 2.04. Denominations. The Debentures shall be issuable in denominations of $25 and integral multiples in excess thereof.

 Section 2.05. Global Securities. The Debentures will be issued as Global Securities under Section 2.11 of the
Indenture. 
 Section 2.06. Interest Rate; Interest Payment Date; Interest Calculations; Payments on Business Days.
(a) The Debentures will bear interest at the rate of 5.75% per year payable on the dates set forth in the form of Debenture attached as Exhibit A hereto, subject to deferral in accordance with Article 3. 

(b) The amount of interest payable on the Debentures will be computed on the basis of a 360-day year of twelve 30-day months, and for any
period shorter than a full quarterly period, on the basis of the actual number of days elapsed using 30-day calendar months. 

  
 6 

 (c) If any date on which interest, principal or premium is payable on the Debentures falls
on a day that is not a Business Day, then payment of the interest, principal or premium payable on that date will be made on the next succeeding day which is a business day, and no interest or payment will be paid in respect of the delay. For this
purpose, a “Business Day” is any day that is not a Saturday, a Sunday, or a day on which banking institutions or trust companies in New York City are generally authorized or required by law or executive order to remain closed.

 Section 2.07. Paying Agent. HSBC Bank USA, National Association shall be the paying agent for the Debentures. The
paying agent, unless the Company shall otherwise determine and so notify the paying agent in writing, shall calculate the amount of interest payable on the Debentures on each Interest Payment Date. All certificates, communications, opinions,
determinations, calculations, quotations and decisions given, expressed, made or obtained for the purposes of the provisions relating to the payment and calculation of interest on the Debentures, by the paying agent, will (in the absence of willful
default or manifest error) be binding on the Company, the Trustee and all holders of the Debentures, and no liability will (in the absence of willful default or manifest error) attach to the paying agent in connection with the exercise or
non-exercise by any of them of their powers, duties and discretion. 
 Section 2.08. Initial Authentication of Debentures.
Debentures in the aggregate principal amount of $750,000,000 may, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver
said Debentures to or upon the order of the Company pursuant to Section 2.04 of the Indenture, without any further action by the Company (other than as required by the Indenture). 

ARTICLE 3 

DEFERRAL OF INTEREST; RESTRICTED PAYMENTS ON
DEFERRAL 
 Section 3.01. Optional Interest Deferral. (a) So long as there is no Event of Default,
the Company may defer interest payments on the Debentures, from time to time, for one or more periods (each, an “Optional Deferral Period”) of up to five consecutive years per Optional Deferral Period. However, a deferral of
interest payments cannot extend beyond the maturity date of the Debentures. During an Optional Deferral Period, interest will continue to accrue on the Debentures, compounded quarterly, and deferred interest payments will accrue additional interest
at an annual rate of 5.75%, to the extent permitted by applicable law. No interest will be due and payable on the Debentures until the end of the Optional Deferral Period except upon a redemption of the Debentures during the deferral period. Prior
to an Optional Deferral Period, the Company shall provide to the Trustee an Officer’s Certificate identifying the beginning of the Optional Deferral Period at least five Business Days before the first Interest Payment Date during the Optional
Deferral Period. 

  
 7 

 (b) The Company may pay at any time all or any portion of the interest accrued to that point
during an Optional Deferral Period. At the end of the Optional Deferral Period or on any redemption date, the Company will be obligated to pay all accrued and unpaid interest. 
 (c) Once all accrued and unpaid interest on the Debentures has been paid, the Company can again defer interest payments on the Debentures as described above, provided that an Optional Deferral Period
cannot extend beyond the maturity date of the Debentures. 
 (d) If the Company defers interest for a period of five consecutive
years from the commencement of an Optional Deferral Period, the Company will be required to pay all accrued and unpaid interest at the conclusion of the five-year period. 
 Section 3.02. Restricted Payments on Deferral. (a) During any Optional Deferral Period, the Company shall not, and shall cause its majority-owned Subsidiaries not to: 

(i) declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with
respect to, any shares of the Company’s capital stock; 
 (ii) make any payment of principal of, or interest
or premium, if any, on, or repay, purchase or redeem any of the Company’s indebtedness that ranks equal in right of payment with, or junior in interest to, the Debentures; 

(iii) make any payment under any purchase contract or similar agreement providing for the issuance by the Company of
capital stock on a forward basis (including the Purchase Contract and Pledge Agreement); or 
 (iv) make any
guarantee payments regarding any guarantee by the Company of indebtedness of any other party if the guarantee ranks equal in right of payment with, or junior in interest to, the Debentures. 

(b) The restrictions set forth in Section 3.02(a) shall not apply to: 

(i) payments on indebtedness issued in connection with an Equity Unit Transaction (including the 4.25% Junior Subordinated
Notes) to the extent that the Company is not permitted to defer such payments or cannot settle any related purchase contracts or successfully remarket such indebtedness if the Company fails to make such payments; provided that to the extent
that the Company is allowed to satisfy its obligations to make 

  
 8 

 
such payments through the issue of deferral or other similar pay-in-kind securities that rank equal in right of payment with, or junior to, the Debentures, the Company shall do so;
provided further, that the Company shall be permitted to make any required payments on such deferral or similar pay-in-kind securities that rank equal in right of payment with, or junior to, the Debentures to the extent required pursuant to
the terms thereof; 
 (ii) payments under any purchase contract or similar agreement providing for the issuance
by the Company of capital stock on a forward basis (including the Purchase Contract and Pledge Agreement) to the extent that the Company is not permitted to defer such payments or cannot settle such purchase contracts or successfully remarket any
related indebtedness (including the 4.25% Junior Subordinated Notes) if the Company fails to make such payments; 

(iii) any dividend or other distribution on the capital stock of the Company in capital stock of the Company, or warrants,
options or rights to acquire the capital stock of the Company, other than any indebtedness convertible into the Company’s capital stock; 
 (iv) any exchange, redemption or conversion of any class or series of the capital stock of the Company for or to any class or series of the capital stock of the Company; 

(v) any exchange, redemption, repayment, repurchase or conversion of any of the Company’s indebtedness that ranks
equal in right of payment with the Debentures for (i) any class or series of the capital stock of the Company, (ii) warrants, options or rights to acquire the capital stock of the Company, other than any convertible debt, or
(iii) evidences of indebtedness or other obligations of the Company that rank equal in right of payment with, or junior to, the Debentures, including any such indebtedness convertible into the capital stock of the Company; 

(vi) any exchange, redemption, repayment, repurchase or conversion of any of indebtedness of the Company that ranks junior
in right of payment to the Debentures for (i) any class or series of the capital stock of the Company, (ii) warrants, options or rights to acquire the capital stock of the Company, other than any convertible debt, or (iii) evidences
of indebtedness or other obligations of the Company that rank junior in right of payment to the Debentures, including any such indebtedness convertible into capital stock of the Company; 

(vii) any purchase of, or payment in cash in lieu of, fractional interests in shares of the capital stock of the Company
(i) issued by the Company in connection with a bona fide acquisition of a business or (ii) issued by the Company pursuant to the conversion or exchange 

  
 9 

 
provisions of the capital stock of the Company or securities of the Company convertible into or exchangeable for the capital stock of the Company; 

(viii) repurchases, redemptions or other acquisitions of shares of the capital stock of the Company or capital stock
rights contractually required by any employment contract, benefit plan or other similar arrangement with or for the benefit of the employees, officers, directors or consultants of the Company or those of Subsidiaries of the Company; and 

(ix) any declaration of a dividend on the capital stock of the Company in connection with the implementation of a
shareholders rights plan designed to protect the Company against unsolicited offers to acquire the capital stock of the Company, or the issuance of the capital stock of the Company under any such plan in the future, or the redemption or repurchase
of any such rights pursuant thereto. 
 ARTICLE 4 
 REDEMPTION OF THE DEBENTURES 
 Section 4.01. Optional Redemption. Subject to the provisions of Article III of the Indenture, the Company shall have the right to redeem the Debentures for cash in whole or in part, at any time and
from time to time: 
 (a) prior to July 25, 2017, at a redemption price equal to the greater of: 

(i) 100% of the principal amount of the Debentures being redeemed, and 

(ii) the sum of the present values of remaining scheduled payments of interest and principal thereon discounted to the
redemption date on a quarterly basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 0.50%, 

plus, in each case, all accrued and unpaid interest thereon to but not including the redemption date; and 

(b) on or after July 25, 2017 at a redemption price equal to 100% of the principal amount of the Debentures to be redeemed, plus all
accrued and unpaid interest thereon to but not including the redemption date. 
 Section 4.02. Tax Event Redemption. If a
Tax Event has occurred prior to July 25, 2017, then the Company shall have the right to redeem the Debentures, in whole but not in part, for cash within 90 days following the occurrence of such Tax Event at a redemption price equal to 100% of
the principal amount of the Debentures being redeemed, plus all accrued and unpaid interest thereon to but not including the redemption date. 

  
 10 

 Section 4.03. Rating Agency Event Redemption. If a Rating Agency Event has occurred
prior to July 25, 2017, then the Company shall have the right to redeem the Debentures, in whole but not in part, for cash within 90 days after the conclusion of any review or appeal process instituted by the Company following the occurrence of
such Rating Agency Event at a redemption price equal to 102% of the principal amount of the Debentures being redeemed, plus all accrued and unpaid interest thereon to but not including the redemption date. 

Section 4.04. Redemption Procedures. Any redemption pursuant to this Article 4 will be made upon not less than 30 days’ nor
more than 60 days’ notice mailed to the registered holder of the Debentures. On and after the applicable redemption date for the Debentures, interest will cease to accrue on the Debentures or any portion thereof called for redemption, unless
the Company defaults in the payment of the applicable redemption price. If the Debentures are to be redeemed in part, the Debentures will be redeemed pro rata or by lot or by any other method utilized by the Trustee as the Trustee deems fair and
appropriate; provided, that if at the time of redemption, the Debentures are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Debentures beneficially held by each holder
of a Debenture to be redeemed. The applicable redemption price, shall be paid prior to 12:00 noon, New York City time, on the date of such redemption or at such earlier time as the Company determines and specifies in the notice of redemption,
provided the Company shall deposit with a paying agent or the Trustee an amount sufficient to pay such redemption price, and accrued and unpaid interest on the Debentures, by 11:00 a.m. on the date such redemption price is to be paid. 

ARTICLE 5 

SUBORDINATION 
 Section 5.01. Agreement to Subordinate. (a) The Company covenants and agrees, and each holder of Debentures issued hereunder by such holder’s acceptance thereof likewise covenants
and agrees, that all Debentures shall be issued subject to the provisions of this Article 5; and each holder of a Debenture, whether upon original issue or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions.

 No provision of this Article 5 shall prevent the occurrence of any default or Event of Default hereunder. 

(b) The payment by the Company of the principal of, premium, if any, and interest on all Debentures issued hereunder shall, to the extent
and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness of the Company, whether 

  
 11 

 
outstanding at the date of this Supplemental Indenture or thereafter incurred. The Debentures will rank equal in right of payment with the 4.25% Junior Subordinated Notes until such notes are
remarketed in accordance with their terms, at which time the 4.25% Junior Subordinated Notes will become Senior Indebtedness. 

Section 5.02. Default on Senior Indebtedness. In the event and during the continuation of any default by the Company in the
payment of principal, premium, interest or any other payment due on any Senior Indebtedness of the Company, or in the event that the maturity of any Senior Indebtedness of the Company has been accelerated because of a default, then, in either case,
no payment shall be made by the Company with respect to the principal of, or premium, if any, or interest on the Debentures. 

In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee or any Holder when such payment is
prohibited by the preceding paragraph of this Section 5.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness or their respective representatives, or to the
trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent that the holders of the Senior Indebtedness (or their representative or
representatives or a trustee) notify the Trustee in writing within 90 days of such payment of the amounts then due and owing on the Senior Indebtedness and only the amounts specified in such notice to the Trustee shall be paid to the holders of
Senior Indebtedness. 
 Section 5.03. Liquidation; Dissolution; Bankruptcy. Upon any payment by the Company, or
distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any dissolution or winding-up or liquidation or reorganization of the Company, whether voluntary or involuntary or in
bankruptcy, insolvency, receivership or other proceedings, all amounts due on all Senior Indebtedness of the Company shall first be paid in full, or payment thereof provided for in money in accordance with its terms, before any payment is made by
the Company on account of the principal (and premium, if any) or interest on the Debentures; and upon any such dissolution or winding-up or liquidation or reorganization, any payment by the Company, or distribution of assets of the Company of any
kind or character, whether in cash, property or securities, to which the Holders of the Debentures or the Trustee would be entitled to receive from the Company, except for the provisions of this Article 5, shall be paid by the Company or by any
receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the holders of the Debentures or by the Trustee under this Indenture if received by them or it, directly to the holders of Senior
Indebtedness of the Company (pro rata to such holders on the basis of the respective amounts of Senior Indebtedness held by such holders, as calculated by the Company) or their representative or representatives, or to the trustee or trustees under
any indenture pursuant to which 

  
 12 

 
any instruments evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, to the extent necessary to pay such Senior Indebtedness in full, in money or
money’s worth, after giving effect to any concurrent payment or distribution to or for the holders of such Senior Indebtedness, before any payment or distribution is made to the holders of Debentures or to the Trustee. 

In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character, whether
in cash, property or securities, prohibited by the foregoing, shall be received by the Trustee or the Holders of the Debentures before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in
accordance with its terms, such payment or distribution shall be held in trust for the benefit of and shall be paid over or delivered to the holders of such Senior Indebtedness or their representative or representatives, or to the trustee or
trustees under any indenture pursuant to which any instruments evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of all Senior
Indebtedness of the Company remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the holders of
such Senior Indebtedness. 
 For purposes of this Article 5, the words “cash, property or securities” shall not be
deemed to include shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the
extent provided in this Article 5 with respect to the Debentures to the payment of all Senior Indebtedness of the Company that may at the time be outstanding, provided that (i) such Senior Indebtedness is assumed by the new corporation,
if any, resulting from any such reorganization or readjustment, and (ii) the rights of the holders of such Senior Indebtedness are not, without the consent of such holders, altered by such reorganization or readjustment. The consolidation of
the Company with, or the merger of the Company into, another corporation or the liquidation or dissolution of the Company following the conveyance or transfer of its property as an entirety, or substantially as an entirety, to another corporation
upon the terms and conditions provided for in Article 10 of the Indenture and this Supplemental Indenture shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 5.03 if such other
corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article 10 of the Indenture and this Supplemental Indenture. Nothing in Section 5.02 or in this Section 5.03 shall
apply to claims of, or payments to, the Trustee under or pursuant to Section 7.06 of the Indenture. 

  
 13 

 Section 5.04. Subrogation. Subject to the payment in full of all Senior Indebtedness
of the Company, the rights of the holders of the Debentures shall be subrogated to the rights of the holders of such Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to such Senior
Indebtedness until the principal of (and premium, if any) and interest on the Debentures shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders for such Senior Indebtedness of any cash, property
or securities to which the holders of the Debentures or the Trustee would be entitled except for the provisions of this Article 5, and no payment over pursuant to the provisions of this Article 5, to or for the benefit of the holders of such Senior
Indebtedness by holders of the Debentures or the Trustee, shall, as between the Company, its creditors other than holders of Senior Indebtedness of the Company, and the holders of the Debentures be deemed to be a payment by the Company to or on
account of such Senior Indebtedness. It is understood that the provisions of this Article 5 are and are intended solely for the purposes of defining the relative rights of the holders of the Debentures, on the one hand, and the holders of such
Senior Indebtedness on the other hand. 
 Nothing contained in this Article 5 or elsewhere in this Indenture or in the
Debentures is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness of the Company, and the holders of the Debentures, the obligation of the Company which is absolute and unconditional, to
pay to the holders of the Debentures the principal of (and premium, if any) and interest on the Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the
holders of the Debentures and creditors of the Company, other than the holders of Senior Indebtedness of the Company, nor shall anything herein or therein prevent the Trustee or the holder of any Debenture from exercising all remedies otherwise
permitted by applicable law upon default under the Indenture, subject to the rights, if any, under this Article 5 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company, received upon the exercise of any
such remedy. 
 Upon any payment or distribution of assets of the Company referred to in this Article 5, the Trustee, subject to
the provisions of Section 7.01 of the Indenture, and the Holders of the Debentures, shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such dissolution, winding-up, liquidation or
reorganization proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidation trustee, agent or other Person making such payment or distribution, delivered to the Trustee or to the holders of the Debentures, for the
purposes of ascertaining the Persons entitled to participate in such distribution, the holders of Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and
all other facts pertinent thereto or to this Article 5. 

  
 14 

 Section 5.05. Trustee to Effectuate Subordination. Each Holder of a Debenture by such
Holder’s acceptance thereof authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article 5 and appoints the Trustee such
holder’s attorney-in-fact for any and all such purposes. 
 Section 5.06. Notice by the Company. The Company shall
give prompt written notice to a Responsible Officer of the Trustee of any fact known to the Company that would prohibit the making of any payment of monies to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article
5. Notwithstanding the provisions of this Article 5 or any other provision of the Indenture and this Supplemental Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment
of monies to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article 5 unless and until a Responsible Officer of the Trustee shall have received written notice thereof at the Corporate Trust Office of the Trustee
from the Company or a holder or holders of Senior Indebtedness or from any trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the provisions of Section 7.01 of the Indenture, shall be entitled in all
respects to assume that no such facts exist; provided that if the Trustee shall not have received the notice provided for in this Section 5.06 at least two Business Days prior to the date upon which by the terms hereof any money may
become payable for any purpose (including, without limitation, the payment of the principal of (or premium, if any) or interest on any Debenture), then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and
authority to receive such money and to apply the same to the purposes for which they were received, and shall not be affected by any notice to the contrary that may be received by it within two Business Days prior to such date. 

The Trustee, subject to the provisions of Section 7.01 of the Indenture, shall be entitled to rely on the delivery to it of a
written notice by a Person representing himself to be a holder of Senior Indebtedness of the Company (or a trustee on behalf of such holder) to establish that such notice has been given by a holder of such Senior Indebtedness or a trustee on behalf
of any such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of such Senior Indebtedness to participate in any payment or distribution
pursuant to this Article 5, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the extent to which such Person is entitled to
participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article 5, and if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to
the right of such Person to receive such payment. 
 Section 5.07. Rights of the Trustee; Holders of Senior Indebtedness.
The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article 5 in respect of any Senior Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in
this Indenture shall deprive the Trustee of any of its rights as such holder. 

  
 15 

 With respect to the holders of Senior Indebtedness of the Company, the Trustee undertakes to
perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 5, and no implied covenants or obligations with respect to the holders of such Senior Indebtedness shall be read into this Indenture
against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of such Senior Indebtedness and, subject to the provisions of Section 7.01 of the Indenture, the Trustee shall not be liable to any holder of such
Senior Indebtedness if it shall pay over or deliver to holders of Debentures, the Company or any other Person money or assets to which any holder of such Senior Indebtedness shall be entitled by virtue of this Article 5 or otherwise. 

Section 5.08. Subordination May Not Be Impaired. No right of any present or future holder of any Senior Indebtedness of the
Company to enforce subordination as herein provided shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any
noncompliance by the Company with the terms, provisions and covenants of the Indenture, regardless of any knowledge thereof that any such holder may have or otherwise be charged with. 

Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness of the Company may, at any time
and from time to time, without the consent of or notice to the Trustee or the Holders of the Debentures, without incurring responsibility to the Holders of the Debentures and without impairing or releasing the subordination provided in this Article
5 or the obligations hereunder of the Holders of the Debentures to the holders of such Senior Indebtedness, do any one or more the following: (a) change the manner, place or terms of payment or extend the time of payment of, or renew or alter,
such Senior Indebtedness, or otherwise amend or supplement in any manner such Senior Indebtedness or any instrument evidencing the same or any agreement under which such Senior Indebtedness is outstanding; (b) sell, exchange, release or
otherwise deal with any property pledged, mortgaged or otherwise securing such Senior Indebtedness; (c) release any Person liable in any manner for the collection of such Senior Indebtedness; and (d) exercise or refrain from exercising any
rights against the Company and any other Person. 
 Section 5.09. No Right to Rely on Other Covenants. The holders of
Senior Indebtedness shall not have any rights under the Indenture to enforce any of the covenants contained in any of the other Articles of this Supplemental Indenture, including, without limitation, the covenants contained in Article 3 hereof.

  
 16 

 ARTICLE 6 
 EVENTS OF DEFAULT 
 Section 6.01.
Events of Default. (a) With respect to the Debentures, the Event of Defaults set forth in Section 6.01 of the Indenture shall not apply. Instead, “Event of Default” means with respect to the Debentures any one or
more of the following events that has occurred and is continuing: 
 (i) the Company defaults in any payment of
interest on any of the Debentures when the same becomes due and payable on an Interest Payment Date within 30 calendar days following the Interest Payment Date, or if interest has been deferred, following the end of the applicable Optional Deferral
Period; 
 (ii) the Company defaults in the payment of the principal of (or premium, if any, on) any of the
Debentures when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise; 
 (iii) the Company pursuant to or within the meaning of any Bankruptcy Law (1) commences a voluntary case, (2) consents to the entry of an order for relief against it in an involuntary case,
(3) consents to the appointment of a Custodian of it or for all or substantially all of its property or (4) makes a general assignment for the benefit of its creditors; or 

(iv) a court of competent jurisdiction enters an order under any Bankruptcy Law that (1) is for relief against the
Company in an involuntary case, (2) appoints a Custodian of the Company for all or substantially all of its property, or (3) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days.

 (b) If an Event of Default described in clause (i), (ii), (iii) or (iv) of this Section 6.01 with respect to
the Debentures occurs and is continuing, the Holders of the Debentures shall be entitled to the remedies in Article 6 of the Indenture. 
 ARTICLE 7 
 U.S. SUCCESSOR CORPORATION 

Section 7.01. U.S. Successor Corporation. In addition to the requirements of Section 10.01 of the Indenture, any successor or
transferee entity under Section 10.01 of the Indenture shall be a corporation organized and existing under the laws of the United States, any state thereof or the District of Columbia. 

  
 17 

 ARTICLE 8 
 APPLICABILITY OF DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01. Applicability of Defeasance and Covenant Defeasance. The Debentures will be subject to defeasance and discharge
pursuant to Sections 11.02 and 11.03 of the Indenture in accordance with the provisions of Article XI of the Indenture. 

ARTICLE 9 

MISCELLANEOUS 
 Section 9.01. Ratification of Indenture. The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed
part of the Indenture in the manner and to the extent herein and therein provided. 
 Section 9.02. Trustee Not Responsible
for Recitals. The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this
Supplemental Indenture. 
 Section 9.03. Governing Law. This Supplemental Indenture and each Debenture shall be deemed to
be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State, except to the extent the Trust Indenture Act shall be applicable. 

Section 9.04. Treatment of the Debentures as Debt. The Company agrees, and each holder of the Debentures will be deemed to have
agreed, to treat the Debentures as indebtedness of the Company for all U.S. federal, state and local tax purposes. 
 Section
9.05. Separability. In case any one or more of the provisions contained in this Supplemental Indenture or in the Debentures shall for any reason be held to be invalid, illegal or unenforceable in any respect, then, to the extent permitted by
the law, such invalidity, illegality or unenforceability shall not affect any other provisions of this Supplemental Indenture or of the Debentures, but this Supplemental Indenture and the Debentures shall be construed as if such invalid or illegal
or unenforceable provision had never been contained herein or therein. 
 Section 9.06. Counterparts. (a) This
Supplemental Indenture may be executed in any number of counterparts each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 

(b) The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute
effective execution and delivery of this Agreement as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their
original signatures for all purposes. 

  
 18 

 Section 9.07. Amendments to Indenture. For purposes of the Debentures, the Indenture
is hereby amended as follows: 
 (a) The following language is added to the end of Section 7.02 of the Indenture:

 (1) In no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of
any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(b) In Section 7.05 of the Indenture, the words “, nor need the Trustee manage such moneys” shall be inserted after the
words “except to the extent required by law.” 
 (c) In Section 7.06 of the Indenture, the words “bad
faith” shall be replaced with “willful misconduct” in each instance that they appear. 
 (d) The following
language is added to the end of Article XIII of the Indenture: 
 SECTION 13.14. Waiver of Jury Trial. EACH OF THE COMPANY
AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE DEBT SECURITIES OR THE TRANSACTION
CONTEMPLATED HEREBY. 

  
 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed on the date or dates indicated in the acknowledgements and as of the day and year first above written. 
  

			
	STANLEY BLACK & DECKER, INC.
		
	By:	 	/s/ Craig Douglas
		 	Name: Craig Douglas
		 	Title: Vice President and Treasurer

  

			
	 HSBC BANK USA, NATIONAL
ASSOCIATION, Not in Its Individual
Capacity But Solely as Trustee

		
	By:	 	/s/ Ignazio Tamburello
		 	Name: Ignazio Tamburello
		 	Title: Vice President

  
 20 

 EXHIBIT A 
 (FORM OF FACE OF DEBENTURE) 
 [If the Debenture is to be a Global Security,
insert: THIS DEBENTURE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS DEBENTURE IS EXCHANGEABLE FOR DEBENTURES REGISTERED IN THE NAME
OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS DEBENTURE (OTHER THAN A TRANSFER OF THIS DEBENTURE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY
OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 
 UNLESS THIS DEBENTURE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY DEBENTURE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT HEREON IS MADE TO CEDE & CO., ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

  
 A-1

 STANLEY BLACK & DECKER, INC. 

5.75% JUNIOR SUBORDINATED DEBENTURE DUE 2052 
  

			
		
	 No.
	 	$
	 CUSIP No. 854502 705
	 	

 STANLEY BLACK & DECKER, INC., a Connecticut corporation (the
“Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to              or
registered assigns, the principal sum [of              Dollars ($            )]1 [as set forth in the Schedule of Increases or Decreases in Debenture
attached hereto, which amount shall not exceed $[            ]],2 on July 25, 2052 and to pay interest thereon from [July 25, 2012]3 or the most recent Interest Payment Date to which interest has been
paid or duly provided for, quarterly in arrears on March 15, June 15, September 15, and December 15 of each year and on July 25, 2052 (each, an “Interest Payment Date”), commencing on
September 15, 2012, at the rate of 5.75% per annum. 
 Interest on the Debentures shall be paid to the Persons in
whose names the Debentures are registered on the close of business (i) on the Business Day immediately preceding such Interest Payment Date so long as all of the Debentures are represented by one or more Global Securities or (ii) on the
March 1, June 1, September 1 or December 1 immediately preceding each Interest Payment Date if any of the Debentures are no longer represented by a Global Security, each a “regular record date” for such
Interest Payment Date. 
 So long as no Event of Default has occurred, the Company shall have the right to defer payment of
interest on the Debentures as set forth in the Indenture. To the extent permitted by applicable law, deferred interest on the Debentures shall bear interest, compounded quarterly, at an annual rate of 5.75%, and shall be payable in the manner and at
the times specified in the Indenture. 
 The indebtedness evidenced by this Debenture is, to the extent provided in the
Indenture, subordinate and junior in right of payment to the prior payment in full of all Senior Indebtedness, and this Debenture is issued subject to the provisions of the Indenture with respect thereto. 

 

	1 	 Include in certificated Debentures. 

  

	2 	 Include in Global Security. 

  

	3 	 Initial interest accrual date may be adjusted in connection with the issuance of additional Debentures. 

  
 A-2

 The provisions of this Debenture are continued on the reverse side hereof and such continued
provisions shall for all purposes have the same effect as though fully set forth at this place. 

  
 A-3

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

Dated: 
  

			
	STANLEY BLACK & DECKER, INC.
		
	 By:
	 	 
		 	Name:
		 	Title:

  

			
	Attest:.
		
	By:	 	 
		 	 Name:

		 	 Title:

  
 A-4

 (FORM OF CERTIFICATE OF AUTHENTICATION) 

CERTIFICATE OF AUTHENTICATION 
 This is one of the Debentures referred to in the within-mentioned Indenture. 
  

	
	 HSBC BANK USA, National Association, not in its individual capacity but solely as trustee

	
	
By:                       
                                         
                              

	
	         Authorized Signatory

	

  
 A-5

 STANLEY BLACK & DECKER, INC. 

5.75% JUNIOR SUBORDINATED DEBENTURE DUE 2052 
 (FORM OF REVERSE OF DEBENTURE) 
 This is one of a duly authorized series of Debt
Securities of the Company (herein sometimes referred to as the “Debentures”), all issued or to be issued under and pursuant to an Indenture dated as of November 22, 2005 (the “Base Indenture”), duly executed
and delivered between the Company and HSBC Bank USA, National Association, not in its individual capacity but solely as trustee (the “Trustee”), as supplemented by the Third Supplemental Indenture thereto, dated as of July 25,
2012, between the Company and the Trustee (the “Supplemental Indenture,” and the Indenture, as so supplemented, the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made
for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Debentures. This Debenture is one of the series designated on the face hereof. 

All terms used in this Debenture that are defined in the Supplemental Indenture shall have the meaning assigned to them in the
Supplemental Indenture. Any term used in this Debenture defined in the Base Indenture and not otherwise defined in the Supplemental Indenture shall have the meaning set forth in the Base Indenture. 

The Company may redeem this Debenture at its option at any time in whole, or in part, at the redemption prices set forth in the
Indenture. 
 The Company may redeem all outstanding Debentures at its option in whole, but not in part, before July 25,
2017 at the redemption prices set forth in the Indenture if a Tax Event or Rating Agency Event occurs. 
 In case an Event of
Default, as defined in the Supplemental Indenture, shall have occurred and be continuing, the principal of all of the Debentures may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to
the conditions provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the entry into
one or more supplemental indentures for purposes of amending or modifying the rights and obligations of the Company and the rights of the Securityholders under the Indenture or the Supplemental Indenture at any time by the Company and the Trustee
with the consent of the Holders of a majority in principal amount of the Debt Securities at the time outstanding of all series affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of
the Debentures at the time 

  
 A-6

 
Outstanding, on behalf of the Holders of all Debentures, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and the
consequences thereof. Any such consent or waiver by the Holder of this Debenture shall be conclusive and binding upon such Holder and upon all future Holders of this Debenture and of any Debenture issued upon the registration of transfer hereof or
in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Debenture. 
 No
service charge shall be made for any registration of transfer or exchange of the Debentures, but the Company may require payment from the Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection
therewith. 
 THIS DEBENTURE SHALL BE GOVERNED BY AND DEEMED TO BE A CONTRACT UNDER, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID STATE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF. 

  
 A-7

 STANLEY BLACK & DECKER, INC. 

5.75% JUNIOR SUBORDINATED DEBENTURE DUE 2052 
  

			
	No.	  	$
	CUSIP No. 854507 705	  	

 SCHEDULE OF INCREASES OR DECREASES IN DEBENTURE4 
 The initial principal amount of this Debenture is $[            ]. The following increases or decreases in a part of this Debenture have been
made: 
  

									
	 Date
	 	 Amount of
decrease in
principal amount
of
this Debenture
	 	 Amount of
increase in
principal
amount
 of this Debenture
	  	Principal amount
of this Debenture
following such
decrease (or
increase)	  	Signature of
authorized
signatory of
Trustee
					
		 		 		  		  	

  

	4 	 Insert in Global Security 

  
 Schedule - 1

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