Document:

EX-4.2

 Exhibit 4.2 
  

 
  

ENERGY TRANSFER PARTNERS, L.P., 

as Issuer, 
 and 

U.S. BANK NATIONAL ASSOCIATION 

(AS SUCCESSOR TO 
 WACHOVIA BANK,
NATIONAL ASSOCIATION), 
 as Trustee 

THIRTEENTH SUPPLEMENTAL INDENTURE 

Dated as of September 19, 2013 

to 
 Indenture dated as of
January 18, 2005 
 4.15% Senior Notes due 2020 

4.90% Senior Notes due 2024 
 5.95%
Senior Notes due 2043 
  
  

 

 Table of Contents 
  

					
	 ARTICLE I DEFINITIONS
	  	 	1	  
	 SECTION 1.1 Generally 
	  	 	1	  
	 SECTION 1.2 Definition of Certain Terms 
	  	 	2	  
		
	 ARTICLE II GENERAL TERMS OF THE NOTES
	  	 	6	  
	 SECTION 2.1 Form 
	  	 	6	  
	 SECTION 2.2 Title, Amount and Payment of Principal and Interest 
	  	 	7	  
	 SECTION 2.3 Transfer and Exchange 
	  	 	9	  
		
	 ARTICLE III FUTURE SUBSIDIARY GUARANTEES
	  	 	9	  
	 SECTION 3.1 No Initial Guarantee of the Notes by Subsidiary Guarantors 
	  	 	9	  
	 SECTION 3.2 Future Subsidiary Guarantors 
	  	 	9	  
	 SECTION 3.3 Release of Guarantees 
	  	 	9	  
	 SECTION 3.4 Reinstatement of Guarantees 
	  	 	9	  
		
	 ARTICLE IV REDEMPTION
	  	 	10	  
	 SECTION 4.1 Optional Redemption 
	  	 	10	  
		
	 ARTICLE V ADDITIONAL COVENANTS
	  	 	11	  
	 SECTION 5.1 Limitation on Liens 
	  	 	11	  
	 SECTION 5.2 Restriction on Sale-Leasebacks 
	  	 	12	  
		
	 ARTICLE VI ADDITIONAL EVENT OF DEFAULT
	  	 	12	  
	 SECTION 6.1 Additional Event of Default
	  	 	12	  
		
	 ARTICLE VII MISCELLANEOUS PROVISIONS
	  	 	13	  
	 SECTION 7.1 Ratification of Base Indenture 
	  	 	13	  
	 SECTION 7.2 Trustee Not Responsible for Recitals 
	  	 	13	  
	 SECTION 7.3 Table of Contents, Headings, etc.
	  	 	13	  
	 SECTION 7.4 Counterpart Originals
	  	 	13	  
	 SECTION 7.5 Governing Law 
	  	 	13	  

  
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 THIS THIRTEENTH SUPPLEMENTAL INDENTURE, dated as of September 19, 2013 (the “Thirteenth
Supplemental Indenture”), is between Energy Transfer Partners, L.P., a Delaware limited partnership (the “Partnership”), and U.S. Bank National Association, a national banking association, as successor to Wachovia Bank, National
Association, a national banking association, as trustee (the “Trustee”). 
 RECITALS: 

WHEREAS, the Partnership and certain Subsidiary Guarantors have executed and delivered to the Trustee an Indenture, dated January 18,
2005 (the “Base Indenture” and, as supplemented by this Thirteenth Supplemental Indenture, the “Indenture”), providing for the issuance by the Partnership from time to time of its debentures, notes, bonds or other evidences of
indebtedness to be issued in one or more series unlimited as to principal amount (the “Debt Securities”); 
 WHEREAS, the
Partnership has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Thirteenth Supplemental Indenture three new series of Debt Securities designated the “4.15% Senior Notes due 2020” (the
“2020 Notes”), the “4.90% Senior Notes due 2024” (the “2024 Notes”) and the “5.95% Senior Notes due 2043” (the “2043 Notes” and, together with the 2020 Notes and the 2024 Notes, the
“Notes”); 
 WHEREAS, Sections 2.01 and 2.03 of the Base Indenture permit the execution of indentures supplemental thereto to
establish the form and terms of Debt Securities of any series; 
 WHEREAS, pursuant to Section 9.01 of the Base Indenture, the
Partnership has requested that the Trustee join in the execution of this Thirteenth Supplemental Indenture to establish the form and terms of the Notes; and 

WHEREAS, all things necessary have been done to make the Notes, when executed by the Partnership and authenticated and delivered hereunder and
under the Base Indenture and duly issued by the Partnership, the valid obligations of the Partnership, and to make this Thirteenth Supplemental Indenture a valid agreement of the Partnership enforceable in accordance with its terms. 

NOW, THEREFORE, the Partnership and the Trustee hereby agree that the following provisions shall supplement the Base Indenture: 

ARTICLE I 
 DEFINITIONS

 SECTION 1.1 Generally. 

(a) Capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed thereto in the Base Indenture.

 (b) The rules of interpretation set forth in the Base Indenture shall be applied hereto as if set forth in full herein. 

  
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 SECTION 1.2 Definition of Certain Terms. 

For all purposes of this Thirteenth Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise requires,
the following terms shall have the following respective meanings: 
 “Attributable Indebtedness,” when used with respect to any
Sale-Leaseback Transaction (as defined in Section 5.2 hereof), means, as at the time of determination, the present value (discounted at the rate set forth or implicit in the terms of the lease included in such transaction) of the total
obligations of the lessee for rental payments (other than amounts required to be paid on account of property taxes, maintenance, repairs, insurance, assessments, utilities, operating and labor costs and other items that do not constitute payments
for property rights) during the remaining term of the lease included in such Sale-Leaseback Transaction (including any period for which such lease has been extended). In the case of any lease that is terminable by the lessee upon the payment of a
penalty or other termination payment, such amount shall be the lesser of the amount determined assuming termination upon the first date such lease may be terminated (in which case the amount shall also include the amount of the penalty or
termination payment, but no rent shall be considered as required to be paid under such lease subsequent to the first date upon which it may be so terminated) or the amount determined assuming no such termination. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having a
maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to
the remaining term of the Notes to be redeemed; provided, however, that if no maturity is within three months before or after the maturity date for such Notes, yields for the two published maturities most closely corresponding to such United
States Treasury security will be determined and the treasury rate will be interpolated or extrapolated from those yields on a straight line basis rounding to the nearest month. 

“Comparable Treasury Price” means, with respect to any Redemption Date, (a) the average of the Reference Treasury Dealer
Quotations for the Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (b) if the Independent Investment Banker obtains fewer than four Reference Treasury Dealer Quotations, the average of all such
quotations. 
 “Consolidated Net Tangible Assets” means, at any date of determination, the total amount of assets of the
Partnership and its consolidated Subsidiaries after deducting therefrom: 
 (1) all current liabilities (excluding (A) any current
liabilities that by their terms are extendable or renewable at the option of the obligor thereon to a time more than twelve months after the time as of which the amount thereof is being computed, and (B) current maturities of long-term debt);
and 

  
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 (2) the value (net of any applicable reserves) of all goodwill, trade names, trademarks, patents
and other like intangible assets, all as set forth, or on a pro forma basis would be set forth, on the consolidated balance sheet of the Partnership and its consolidated Subsidiaries for the Partnership’s most recently completed fiscal quarter
for which financial statements have been filed with the SEC, prepared in accordance with generally accepted accounting principles. 

“Credit Agreement” means the Second Amended and Restated Credit Agreement, dated as of October 27, 2011, among the Partnership,
Wells Fargo Bank, National Association, as Administrative Agent, and the other agents and lenders party thereto and as further amended, restated, refinanced, replaced or refunded from time to time. 

“General Partner” means Energy Transfer Partners GP, L.P., a Delaware limited partnership, and its successors as general partner of
the Partnership. 
 “Indebtedness” of any Person at any date means any obligation created or assumed by such Person for the
repayment of borrowed money or any guaranty thereof. 
 “Independent Investment Banker” means J.P. Morgan Securities LLC (and its
successors) or, if such firm is not willing and able to select the applicable Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Trustee and reasonably acceptable to the Partnership. 

“Permitted Liens” means: 

(1) liens upon rights-of-way for pipeline purposes; 

(2) easements, rights-of-way, restrictions and other similar encumbrances incurred in the ordinary course of business and encumbrances
consisting of zoning restrictions, easements, licenses, restrictions on the use of real property or minor imperfections in title thereto and which do not in the aggregate materially adversely affect the value of the properties encumbered thereby or
materially impair their use in the operation of the business of the Partnership and its Subsidiaries; 
 (3) rights reserved to or vested by
any provision of law in any municipality or public authority to control or regulate any of the properties of the Partnership or any Subsidiary or the use thereof or the rights and interests of the Partnership or any Subsidiary therein, in any manner
under any and all laws; 
 (4) rights reserved to the grantors of any properties of the Partnership or any Subsidiary, and the restrictions,
conditions, restrictive covenants and limitations, in respect thereto, pursuant to the terms, conditions and provisions of any rights-of-way agreements, contracts or other agreements therewith; 

(5) any statutory or governmental lien or lien arising by operation of law, or any mechanics’, repairmen’s, materialmen’s,
suppliers’, carriers’, landlords’, warehousemen’s or similar lien incurred in the ordinary course of business which is not more than sixty (60) days past due or which is being contested in good faith by appropriate
proceedings and any undetermined lien which is incidental to construction, development, improvement or repair; 

  
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 (6) any right reserved to, or vested in, any municipality or public authority by the terms of any
right, power, franchise, grant, license, permit or by any provision of law, to purchase or recapture or to designate a purchaser of, any property; 

(7) liens for taxes and assessments which are (a) for the then current year, (b) not at the time delinquent, or (c) delinquent
but the validity or amount of which is being contested at the time by the Partnership or any of its Subsidiaries in good faith by appropriate proceedings; 

(8) liens of, or to secure performance of, leases, other than capital leases; 

(9) any lien in favor of the Partnership or any Subsidiary; 

(10) any lien upon any property or assets of the Partnership or any Subsidiary in existence on the date of the initial issuance of the Notes;

 (11) any lien incurred in the ordinary course of business in connection with workmen’s compensation, unemployment insurance,
temporary disability, social security, retiree health or similar laws or regulations or to secure obligations imposed by statute or governmental regulations; 

(12) liens in favor of any Person to secure obligations under provisions of any letters of credit, bank guarantees, bonds or surety obligations
required or requested by any governmental authority in connection with any contract or statute, provided that such obligations do not constitute Indebtedness; or any lien upon or deposits of any assets to secure performance of bids, trade contracts,
leases or statutory obligations, and other obligations of a like nature incurred in the ordinary course of business; 
 (13) any lien upon
any property or assets created at the time of acquisition of such property or assets by the Partnership or any of its Subsidiaries or within one year after such time to secure all or a portion of the purchase price for such property or assets or
debt incurred to finance such purchase price, whether such debt was incurred prior to, at the time of or within one year after the date of such acquisition; 

(14) any lien upon any property or assets to secure all or part of the cost of construction, development, repair or improvements thereon or to
secure Indebtedness incurred prior to, at the time of, or within one year after completion of such construction, development, repair or improvements or the commencement of full operations thereof (whichever is later), to provide funds for any such
purpose; 
 (15) any lien upon any property or assets existing thereon at the time of the acquisition thereof by the Partnership or any of
its Subsidiaries and any lien upon any property or assets of a Person existing thereon at the time such Person becomes a Subsidiary of the Partnership by acquisition, merger or otherwise; provided that, in each case, such lien only encumbers
the property or assets so acquired or owned by such Person at the time such Person becomes a Subsidiary; 
 (16) liens imposed by law or
order as a result of any proceeding before any court or regulatory body that is being contested in good faith, and liens which secure a judgment or other court-ordered award or settlement as to which the Partnership or the applicable Subsidiary has
not exhausted its appellate rights; 

  
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 (17) any extension, renewal, refinancing, refunding or replacement (or successive extensions,
renewals, refinancing, refunding or replacements) of liens, in whole or in part, referred to in clauses (1) through (16) above; provided, however, that any such extension, renewal, refinancing, refunding or replacement lien shall be
limited to the property or assets covered by the lien extended, renewed, refinanced, refunded or replaced and that the obligations secured by any such extension, renewal, refinancing, refunding or replacement lien shall be in an amount not greater
than the amount of the obligations secured by the lien extended, renewed, refinanced, refunded or replaced and any expenses of the Partnership or its Subsidiaries (including any premium) incurred in connection with such extension, renewal,
refinancing, refunding or replacement; or 
 (18) any lien resulting from the deposit of moneys or evidence of indebtedness in trust for the
purpose of defeasing Indebtedness of the Partnership or any of its Subsidiaries. 
 “Principal Property” means, whether owned or
leased on the date hereof or thereafter acquired: 
 (1) any pipeline assets of the Partnership or any of its Subsidiaries, including any
related facilities employed in the gathering, transportation, distribution, storage or marketing of natural gas, refined petroleum products, natural gas liquids and petrochemicals, that are located in the United States of America or any territory or
political subdivision thereof; and 
 (2) any processing, compression, treating, blending or manufacturing plant or terminal owned or leased
by the Partnership or any of its Subsidiaries that is located in the United States or any territory or political subdivision thereof, except in the case of either of the preceding clause (1) or this (2): 

(a) any such assets consisting of inventories, furniture, office fixtures and equipment (including data processing equipment),
vehicles and equipment used on, or useful with, vehicles; and 
 (b) any such assets which, in the opinion of the board of
directors of the General Partner are not material in relation to the activities of the Partnership and its Subsidiaries taken as a whole. 

“Reference Treasury Dealer” means (a) each of Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC and their
respective successors, and (b) one other primary U.S. government securities dealer in the United States selected by the Partnership (each, a “Primary Treasury Dealer”); provided, however, that if any of the foregoing shall
resign as a Reference Treasury Dealer or cease to be a U.S. government securities dealer, the Partnership will substitute therefor another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date for the Notes,
an average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Notes to be redeemed (expressed in each case as a percentage of its principal amount) quoted in writing to the
Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

  
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 “Restricted Subsidiary” means any Subsidiary owning or leasing, directly or indirectly
through ownership in another Subsidiary, any Principal Property. 
 “Subsidiary Guarantor” means, with respect to the Notes and
notwithstanding the definition thereof in the Base Indenture, each Subsidiary of the Partnership that guarantees the Notes pursuant to the terms of the Indenture, but only so long as such Subsidiary is a guarantor of the Notes on the terms provided
in the Indenture. 
 “Treasury Yield” means, with respect to any Redemption Date applicable to the Notes, (a) the yield,
under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of
Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the
Comparable Treasury Issue; or (b) if the release (or any successor release) is not published during the week preceding the calculation date or does not contain these yields, the rate per annum equal to the semi-annual equivalent yield to
maturity (computed as of the third Business Day immediately preceding such Redemption Date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
applicable Comparable Treasury Price for such Redemption Date. 
 ARTICLE II 

GENERAL TERMS OF THE NOTES 

SECTION 2.1 Form. 

The 2020 Notes, the 2024 Notes and the 2043 Notes and the Trustee’s certificates of authentication shall be substantially in the form of
Exhibit A-1, Exhibit A-2 and Exhibit A-3, respectively, to this Thirteenth Supplemental Indenture, which are hereby incorporated into this Thirteenth Supplemental Indenture. The terms and provisions contained in the Notes shall constitute, and are
hereby expressly made, a part of this Thirteenth Supplemental Indenture and to the extent applicable, the Partnership and the Trustee, by their execution and delivery of this Thirteenth Supplemental Indenture, expressly agree to such terms and
provisions and to be bound thereby. 
 Each series of Notes shall be issued upon original issuance in whole in the form of one or more
Global Securities (the “Book-Entry Notes”). Each Book-Entry Note shall represent such of the outstanding Notes as shall be specified therein and shall provide that it shall represent the aggregate amount of outstanding Notes from time to
time endorsed thereon and that the aggregate amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. 

  
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 The Partnership initially appoints The Depository Trust Company to act as Depositary with respect
to the Book-Entry Notes. 
 SECTION 2.2 Title, Amount and Payment of Principal and Interest. 

(a) The 2020 Notes shall be entitled the “4.15% Senior Notes due 2020”. The Trustee shall authenticate and deliver (i) the 2020
Notes for original issue on the date hereof (the “Original 2020 Notes”) in the aggregate principal amount of $700,000,000, and (ii) additional 2020 Notes for original issue from time to time after the date hereof in such principal
amounts as may be specified in a Partnership Order described in this sentence, in each case upon a Partnership Order for the authentication and delivery thereof and satisfaction of the other provisions of Section 2.04 of the Base Indenture.
Such order shall specify the amount of the 2020 Notes to be authenticated, the date on which the original issue of 2020 Notes is to be authenticated, and the name or names of the initial Holder or Holders. The aggregate principal amount of 2020
Notes that may be outstanding at any time may not exceed $700,000,000 plus such additional principal amounts as may be issued and authenticated pursuant to clause (ii) of this paragraph (except as provided in Section 2.09 of the Base
Indenture). The Original 2020 Notes and any additional 2020 Notes issued and authenticated pursuant to clause (ii) of this paragraph shall constitute a single series of Debt Securities for all purposes under the Indenture. 

The principal amount of each 2020 Note shall be payable on October 1, 2020. Each 2020 Note shall bear interest from the date of original
issuance, or the most recent date to which interest has been paid, at the fixed rate of 4.15% per annum. The dates on which interest on the 2020 Notes shall be payable shall be April 1 and October 1 of each year, commencing
April 1, 2014 (the “2020 Interest Payment Dates”). The regular record date for interest payable on the 2020 Notes on any 2020 Interest Payment Date shall be March 15 or September 15, as the case may be, next preceding such
2020 Interest Payment Date. 
 Payments of principal of, premium, if any, and interest due on the 2020 Notes representing Book-Entry Notes
on any 2020 Interest Payment Date or at maturity will be made available to the Trustee by 10:00 a.m., New York City time, on such date, unless such date falls on a day which is not a Business Day, in which case such payments will be made available
to the Trustee by 10:00 a.m., New York City time, on the next Business Day. As soon as possible thereafter, the Trustee will make such payments to the Depositary. 

(b) The 2024 Notes shall be entitled the “4.90% Senior Notes due 2024”. The Trustee shall authenticate and deliver (i) the 2024
Notes for original issue on the date hereof (the “Original 2024 Notes”) in the aggregate principal amount of $350,000,000, and (ii) additional 2024 Notes for original issue from time to time after the date hereof in such principal
amounts as may be specified in a Partnership Order described in this sentence, in each case upon a Partnership Order for the authentication and delivery thereof and satisfaction of the other provisions of Section 2.04 of the Base Indenture.
Such order shall specify the amount of the 2024 Notes to be authenticated, the date on which the original issue of 2024 Notes is to be authenticated, and the name or names of the initial Holder or Holders. The aggregate principal amount of 2024
Notes that may be outstanding at any time may not exceed $350,000,000 plus such additional principal amounts as may be issued and authenticated pursuant to clause (ii) of this paragraph (except as provided in Section 2.09 of the Base
Indenture). The Original 2024 Notes and any additional 2024 Notes issued and authenticated pursuant to clause (ii) of this paragraph shall constitute a single series of Debt Securities for all purposes under the Indenture. 

  
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 The principal amount of each 2024 Note shall be payable on February 1, 2024. Each 2024 Note
shall bear interest from the date of original issuance, or the most recent date to which interest has been paid, at the fixed rate of 4.90% per annum. The dates on which interest on the 2024 Notes shall be payable shall be February 1 and
August 1 of each year, commencing February 1, 2014 (the “2024 Interest Payment Dates”). The regular record date for interest payable on the 2024 Notes on any 2024 Interest Payment Date shall be January 15 or July 15, as
the case may be, next preceding such 2024 Interest Payment Date. 
 Payments of principal of, premium, if any, and interest due on the 2024
Notes representing Book-Entry Notes on any 2024 Interest Payment Date or at maturity will be made available to the Trustee by 10:00 a.m., New York City time, on such date, unless such date falls on a day which is not a Business Day, in which case
such payments will be made available to the Trustee by 10:00 a.m., New York City time, on the next Business Day. As soon as possible thereafter, the Trustee will make such payments to the Depositary. 

(c) The 2043 Notes shall be entitled the “5.95% Senior Notes due 2043”. The Trustee shall authenticate and deliver (i) the 2043
Notes for original issue on the date hereof (the “Original 2043 Notes”) in the aggregate principal amount of $450,000,000, and (ii) additional 2043 Notes for original issue from time to time after the date hereof in such principal
amounts as may be specified in a Partnership Order described in this sentence, in each case upon a Partnership Order for the authentication and delivery thereof and satisfaction of the other provisions of Section 2.04 of the Base Indenture.
Such order shall specify the amount of the 2043 Notes to be authenticated, the date on which the original issue of 2043 Notes is to be authenticated, and the name or names of the initial Holder or Holders. The aggregate principal amount of 2043
Notes that may be outstanding at any time may not exceed $450,000,000 plus such additional principal amounts as may be issued and authenticated pursuant to clause (ii) of this paragraph (except as provided in Section 2.09 of the Base
Indenture). The Original 2043 Notes and any additional 2043 Notes issued and authenticated pursuant to clause (ii) of this paragraph shall constitute a single series of Debt Securities for all purposes under the Indenture. 

The principal amount of each 2043 Note shall be payable on October 1, 2043. Each 2043 Note shall bear interest from the date of original
issuance, or the most recent date to which interest has been paid, at the fixed rate of 5.95% per annum. The dates on which interest on the 2043 Notes shall be payable shall be April 1 and October 1 of each year, commencing
April 1, 2014 (the “2043 Interest Payment Dates”). The regular record date for interest payable on the 2043 Notes on any 2043 Interest Payment Date shall be March 15 or September 15, as the case may be, next preceding such
2043 Interest Payment Date. 
 Payments of principal of, premium, if any, and interest due on the 2043 Notes representing Book-Entry Notes
on any 2043 Interest Payment Date or at maturity will be made available to the Trustee by 10:00 a.m., New York City time, on such date, unless such date falls on a day which is not a Business Day, in which case such payments will be made available
to the Trustee by 10:00 a.m., New York City time, on the next Business Day. As soon as possible thereafter, the Trustee will make such payments to the Depositary. 

  
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 SECTION 2.3 Transfer and Exchange. 

The transfer and exchange of Book-Entry Notes or beneficial interests therein shall be effected through the Depositary, in accordance with
Section 2.17 of the Base Indenture and Article II of this Thirteenth Supplemental Indenture (including the restrictions on transfer set forth therein and herein) and the rules and procedures of the Depositary therefor, which shall include
restrictions on transfer comparable to those set forth therein and herein to the extent required by the Securities Act of 1933, as amended. 

ARTICLE III 
 FUTURE
SUBSIDIARY GUARANTEES 
 SECTION 3.1 No Initial Guarantee of the Notes by Subsidiary Guarantors. 

The Notes initially shall not be entitled to the benefits of the Guarantee contemplated by Article X of the Base Indenture. 

SECTION 3.2 Future Subsidiary Guarantors. 

If any Subsidiary of the Partnership that is not then a Subsidiary Guarantor guarantees, becomes a co-obligor with respect to or otherwise
provides direct credit support for any obligations of the Partnership or any of its other Subsidiaries under the Credit Agreement, then the Partnership shall cause such Subsidiary to promptly execute and deliver to the Trustee a supplemental
indenture to the Indenture, in a form satisfactory to the Trustee, providing for the Guarantee by such Subsidiary of the Partnership’s obligations under the Notes in accordance with Article X of the Base Indenture. 

SECTION 3.3 Release of Guarantees. 

In addition to the provisions of Section 10.04(a) of the Base Indenture, the Guarantee of the Notes of any Subsidiary Guarantor shall be
unconditionally released and discharged, following delivery of written notice by the Partnership to the Trustee, upon the release and discharge of all guarantees or other obligations of such Subsidiary Guarantor with respect to the obligations of
the Partnership or its Subsidiaries under the Credit Agreement. 
 SECTION 3.4 Reinstatement of Guarantees. 

If at any time following any release of the Guarantee of a Subsidiary Guarantor pursuant to Section 3.3 above, such Subsidiary Guarantor
again guarantees, becomes a co-obligor with respect to or otherwise provides direct credit support for any obligations of the Partnership or any of its Subsidiaries under the Credit Agreement, then such Subsidiary Guarantor shall again guarantee the
Partnership’s obligations under the Notes and the Partnership shall cause such Subsidiary Guarantor to promptly execute and deliver a supplemental indenture to the Indenture, in a form satisfactory to the Trustee, providing for the Guarantee by
such Subsidiary Guarantor of the Partnership’s obligations under the Notes in accordance with Article X of the Base Indenture. 

  
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 ARTICLE IV 

REDEMPTION 
 SECTION
4.1 Optional Redemption. 
 (a) Prior to August 1, 2020, the 2020 Notes are redeemable, at the option of the Partnership, at any
time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the 2020 Notes to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of
principal and interest (at the rate in effect on the date of calculation of the Redemption Price) on the 2020 Notes to be redeemed that would be due after the related Redemption Date but for such redemption (exclusive of interest accrued to, but
excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 30 basis points; plus, in either case, accrued and unpaid
interest to, but excluding, the Redemption Date. 
 At any time on or after August 1, 2020, the 2020 Notes are redeemable, at the
option of the Partnership, in whole or in part, at a Redemption Price equal to 100% of the principal amount of the 2020 Notes to be redeemed plus accrued and unpaid interest to, but excluding, the Redemption Date. 

(b) Prior to November 1, 2023, the 2024 Notes are redeemable, at the option of the Partnership, at any time in whole, or from time to time
in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the 2024 Notes to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest (at the rate in
effect on the date of calculation of the Redemption Price) on the 2024 Notes to be redeemed that would be due after the related Redemption Date but for such redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted
to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 35 basis points; plus, in either case, accrued and unpaid interest to, but excluding, the Redemption
Date. 
 At any time on or after November 1, 2023, the 2024 Notes are redeemable, at the option of the Partnership, in whole or in
part, at a Redemption Price equal to 100% of the principal amount of the 2024 Notes to be redeemed plus accrued and unpaid interest to, but excluding, the Redemption Date. 

(c) Prior to April 1, 2043, the 2043 Notes are redeemable, at the option of the Partnership, at any time in whole, or from time to time in
part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the 2043 Notes to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest (at the rate in
effect on the date of calculation of the Redemption Price) on the 2043 Notes to be redeemed that would be due after the related Redemption Date but for such redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted
to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 37.5 basis points; plus, in either case, accrued and unpaid interest to, but excluding, the Redemption
Date. 

  
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 At any time on or after April 1, 2043, the 2043 Notes are redeemable, at the option of the
Partnership, in whole or in part, at a Redemption Price equal to 100% of the principal amount of the 2043 Notes to be redeemed plus accrued and unpaid interest to, but excluding, the Redemption Date. 

(d) The actual Redemption Price, determined as provided in Sections 4.1(a), 4.1(b) and 4.1(c), shall be calculated and certified to the Trustee
and the Partnership by the Independent Investment Banker. 
 (e) The Partnership shall have no obligation to redeem, purchase or repay the
Notes pursuant to any mandatory redemption, sinking fund or analogous provisions or at the option of a Holder thereof. 
 ARTICLE V

 ADDITIONAL COVENANTS 

In addition to the covenants set forth in the Base Indenture, the Notes shall be entitled to the benefit of the following covenants: 

SECTION 5.1 Limitation on Liens. 

The Partnership shall not, nor shall it permit any of its Subsidiaries to, create, assume, incur or suffer to exist any mortgage, lien,
security interest, pledge, charge or other encumbrance (“liens”) upon any Principal Property or upon any capital stock of any Restricted Subsidiary, whether owned on the date hereof or thereafter acquired, to secure any Indebtedness of the
Partnership or any other Person (other than the Notes), without in any such case making effective provisions whereby all of the outstanding Notes are secured equally and ratably with, or prior to, such Indebtedness so long as such Indebtedness is so
secured. 
 Notwithstanding the foregoing, the Partnership may, and may permit any of its Subsidiaries to, create, assume, incur, or suffer
to exist without securing the Notes (a) any Permitted Lien, (b) any lien upon any Principal Property or capital stock of a Restricted Subsidiary to secure Indebtedness of the Partnership or any other Person, provided that the aggregate
principal amount of all Indebtedness then outstanding secured by such lien and all similar liens under this clause (b), together with all Attributable Indebtedness from Sale-Leaseback Transactions (excluding Sale-Leaseback Transactions permitted by
clauses (1) through (4), inclusive, of Section 5.2 hereof), does not exceed 10% of Consolidated Net Tangible Assets or (c) any lien upon (i) any Principal Property that was not owned by the Partnership or any of its Subsidiaries
on the date hereof or (ii) the capital stock of any Restricted Subsidiary that owns no Principal Property that was owned by the Partnership or any of its Subsidiaries on the date hereof, in each case owned by a Subsidiary of the Partnership (an
“Excluded Subsidiary”) that (A) is not, and is not required to be, a Subsidiary Guarantor and (B) has not granted any liens on any of its property securing Indebtedness with recourse to the Partnership or any Subsidiary of the
Partnership other than such Excluded Subsidiary or any other Excluded Subsidiary. 

  
 11 

 SECTION 5.2 Restriction on Sale-Leasebacks. 

The Partnership will not, and will not permit any Subsidiary to, engage in the sale or transfer by the Partnership or any of its Subsidiaries
of any Principal Property to a Person (other than the Partnership or a Subsidiary) and the taking back by the Partnership or its Subsidiary, as the case may be, of a lease of such Principal Property (a “Sale-Leaseback Transaction”),
unless: 
 (1) such Sale-Leaseback Transaction occurs within one year from the date of completion of the acquisition of the Principal
Property subject thereto or the date of the completion of construction, development or substantial repair or improvement, or commencement of full operations on such Principal Property, whichever is later; 

(2) the Sale-Leaseback Transaction involves a lease for a period, including renewals, of not more than three years; 

(3) the Partnership or such Subsidiary would be entitled to incur Indebtedness secured by a lien on the Principal Property subject thereto in a
principal amount equal to or exceeding the Attributable Indebtedness from such Sale-Leaseback Transaction without equally and ratably securing the Notes; or 

(4) the Partnership or such Subsidiary, within a one-year period after such Sale-Leaseback Transaction, applies or causes to be applied an
amount not less than the Attributable Indebtedness from such Sale-Leaseback Transaction to (a) the prepayment, repayment, redemption, reduction or retirement of any Indebtedness of the Partnership or any of its Subsidiaries that is not
subordinated to the Notes or any Guarantee, or (b) the expenditure or expenditures for Principal Property used or to be used in the ordinary course of business of Partnership or its Subsidiaries. 

Notwithstanding the foregoing, the Partnership may, and may permit any Subsidiary to, effect any Sale-Leaseback Transaction that is not
excepted by clauses (1) through (4), inclusive, of the preceding paragraph provided that the Attributable Indebtedness from such Sale-Leaseback Transaction, together with the aggregate principal amount of outstanding Indebtedness (other than
the Notes) secured by liens other than Permitted Liens upon Principal Properties, does not exceed 10% of Consolidated Net Tangible Assets. 

ARTICLE VI 
 ADDITIONAL
EVENT OF DEFAULT 
 SECTION 6.1 Additional Event of Default. 

In addition to the Events of Default specified in Section 6.01 of the Base Indenture, the following shall be an Event of Default with
respect to each series of the Notes: any Indebtedness of the Partnership or any Subsidiary Guarantor is not paid within any applicable grace period after final maturity or is accelerated by the holders thereof because of a default and the total
amount of such Indebtedness unpaid or accelerated exceeds $25,000,000. 

  
 12 

 ARTICLE VII 

MISCELLANEOUS PROVISIONS 

SECTION 7.1 Ratification of Base Indenture. 

The Base Indenture, as supplemented by this Thirteenth Supplemental Indenture, is in all respects ratified and confirmed, and this Thirteenth
Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided. 

SECTION 7.2 Trustee Not Responsible for Recitals. 

The recitals contained herein and in the Notes, except with respect to the Trustee’s certificates of authentication, shall be taken as the
statements of the Partnership, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Thirteenth Supplemental Indenture or of the Notes. 

SECTION 7.3 Table of Contents, Headings, etc. 

The table of contents and headings of the Articles and Sections of this Thirteenth Supplemental Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 

SECTION 7.4 Counterpart Originals. 

The parties may sign any number of copies of this Thirteenth Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement. 
 SECTION 7.5 Governing Law. 

THIS THIRTEENTH SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 (Signature Pages Follow) 

  
 13 

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

			
	ISSUER:
	
	ENERGY TRANSFER PARTNERS, L.P.
		
	By:	 	Energy Transfer Partners GP, L.P.,
	Its:	 	General Partner
		
	By:	 	Energy Transfer Partners, L.L.C.
	Its:	 	General Partner
		
	By:	 	/s/ Martin Salinas
	Name:	 	Martin Salinas
	Title:	 	Chief Financial Officer
	
	TRUSTEE:
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	/s/ Mauri J. Cowen
	Name:	 	Mauri J. Cowen
	Title:	 	Vice President

 Signature Page of Thirteenth Supplemental Indenture 

 Exhibit A-1 

FORM OF NOTE 
 [FACE OF
SECURITY] 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) (55 WATER STREET, NEW
YORK, NEW YORK 10041) TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 [TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO HEREIN.]* 
  

			
	 No.            
	  	$                    
		  	CUSIP: 29273R AX7
		  	ISIN: US29273RAX70

 ENERGY TRANSFER PARTNERS, L.P. 

4.15% SENIOR NOTES DUE 2020 

ENERGY TRANSFER PARTNERS, L.P., a Delaware limited partnership (the “Partnership,” which term includes any successor under the
Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co.* or its registered assigns, the principal sum of
                     U.S. dollars
($                    ), [or such greater or lesser principal sum as is shown on the attached Schedule of Increases and Decreases in Global
Security]*, on October 1, 2020 in such coin and currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest thereon at an annual rate of 4.15% payable
on April 1 and October 1 of each year, to the person in whose name the Security is registered at the close of business on the record date for such interest, which shall be the preceding March 15 or September 15 (each, a
“Regular Record Date”), respectively, payable commencing on April 1, 2014. 
 Reference is made to the further provisions of
this Security set forth on the reverse hereof. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

 

	*	To be included in a Book-Entry Note. 

  
 A-1-1 

 The statements in the legends set forth in this Security are an integral part of the terms of
this Security and by acceptance hereof the Holder of this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such legend. 

This Security is issued in respect of a series of Debt Securities of an initial aggregate principal amount of $700,000,000 designated as the
4.15% Senior Notes due 2020 of the Partnership and is governed by the Indenture dated as of January 18, 2005 (the “Base Indenture”), duly executed and delivered by the Partnership, as issuer, to Wachovia Bank, National Association, as
trustee, as supplemented by the Thirteenth Supplemental Indenture dated as of September 19, 2013, duly executed by the Partnership and U.S. Bank National Association (the “Trustee”), as successor to Wachovia Bank, National
Association, (the “Thirteenth Supplemental Indenture”, and together with the Base Indenture, the “Indenture”). The terms of the Indenture are incorporated herein by reference. This Security shall in all respects be entitled to
the same benefits as definitive Debt Securities under the Indenture. 
 If and to the extent any provision of the Indenture limits,
qualifies or conflicts with any other provision of the Indenture that is required to be included in the Indenture or is deemed applicable to the Indenture by virtue of the provisions of the Trust Indenture Act of 1939, as amended (the
“TIA”), such required provision shall control. 
 This Security shall not be valid or become obligatory for any purpose until the
Trustee’s Certificate of Authentication hereon shall have been manually signed by the Trustee under the Indenture. 

  
 A-1-2 

 IN WITNESS WHEREOF, the Partnership has caused this instrument to be duly executed by its sole
General Partner. 
 Dated: 
  

			
	ENERGY TRANSFER PARTNERS, L.P.
		
	By:	 	Energy Transfer Partners GP, L.P.
	Its:	 	General Partner
		
	By:	 	Energy Transfer Partners, L.L.C.
	Its:	 	General Partner
		
	By:	 	 
	Name:	 	
	Title:	 	
		
	By:	 	 
	Name:	 	
	Title:	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

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

 

			
	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	 
		 	Authorized Signatory

  
 A-1-3 

 [REVERSE OF SECURITY] 

ENERGY TRANSFER PARTNERS, L.P. 

4.15% SENIOR NOTES DUE 2020 

This Security is one of a duly authorized issue of debentures, notes or other evidences of indebtedness of the Partnership (the “Debt
Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to the Indenture, to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Partnership and the Holders of the Debt Securities. The Debt Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at
different times, may bear interest (if any) at different rates, may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as provided in the Indenture. This Security is one of a series designated as the 4.15%
Senior Notes due 2020 of the Partnership, in an initial aggregate principal amount of $700,000,000 (the “Securities”). 
  

	1.	Interest. 

 The Partnership promises to pay interest on the principal amount of this
Security at the rate of 4.15% per annum. 
 The Partnership will pay interest semi-annually on April 1 and October 1 of each
year (each an “Interest Payment Date”), commencing April 1, 2014. Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid on the Securities, from
September 19, 2013. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. The Partnership shall pay interest (including post-petition interest in any proceeding under any applicable bankruptcy laws) on
overdue installments of interest (without regard to any applicable grace period) and on overdue principal and premium, if any, from time to time on demand at the same rate per annum, in each case to the extent lawful. 

 

	2.	Method of Payment. 

 The Partnership shall pay interest on the Securities (except
Defaulted Interest) to the persons who are the registered Holders at the close of business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for (“Defaulted
Interest”) may be paid to the persons who are registered Holders at the close of business on a special record date for the payment of such Defaulted Interest, or in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may then be listed if such manner of payment shall be deemed practicable by the Trustee, as more fully provided in the Indenture. The Partnership shall pay principal, premium, if any, and interest in such
coin or currency of the United States of America as at the time of payment shall be legal tender for payment of public and private debts. Payments in respect of a Global Security (including principal, premium, if any, and interest) will be made by
wire transfer of immediately available funds to the accounts specified by the Depositary. Payments in respect of Securities in definitive form (including principal, premium, if any, and interest) will be made at the office or agency of the
Partnership maintained for such purpose 

  
 A-1-4 

 
within The City of New York, which initially will be at the corporate trust office of the Trustee located at 100 Wall Street, Suite 1600, New York, New York 10005, Mail Station: EX-NY-WALL, or,
at the option of the Partnership, payment of interest may be made by check mailed to the Holders on the relevant record date at their addresses set forth in the register of Holders maintained by the Registrar or at the option of the Holder, payment
of interest on Securities in definitive form will be made by wire transfer of immediately available funds to any account maintained in the United States, provided such Holder has requested such method of payment and provided timely wire transfer
instructions to the Paying Agent. The Holder must surrender this Security to a Paying Agent to collect payment of principal. 
  

	3.	Paying Agent and Registrar. 

 Initially, U.S. Bank National Association will act as
Paying Agent and Registrar. The Partnership may change any Paying Agent or Registrar at any time upon notice to the Trustee and the Holders. The Partnership may act as Paying Agent. 

 

	4.	Indenture. 

 This Security is one of a duly authorized issue of Debt Securities of the
Partnership issued and to be issued in one or more series under the Indenture. 
 Capitalized terms herein are used as defined in the
Indenture unless otherwise defined herein. The terms of the Securities include those stated in the Base Indenture, those made part of the Indenture by reference to the TIA, as in effect on the date of the Base Indenture, and those terms stated in
the Thirteenth Supplemental Indenture. The Securities are subject to all such terms, and Holders of Securities are referred to the Base Indenture, the Thirteenth Supplemental Indenture and the TIA for a statement of them. The Securities of this
series are general unsecured obligations of the Partnership limited to an initial aggregate principal amount of $700,000,000; provided, however, that the authorized aggregate principal amount of such series may be increased from time to time
as provided in the Thirteenth Supplemental Indenture. 
  

	5.	Redemption. 

 Optional Redemption. Prior to August 1, 2020, the Securities
are redeemable, at the option of the Partnership, at any time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the Securities to be redeemed; or (ii) the sum of the
present values of the remaining scheduled payments of principal and interest (at the rate in effect on the date of calculation of the Redemption Price) on the Securities to be redeemed that would be due after the related Redemption Date but for such
redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 30 basis
points; plus, in either case, accrued and unpaid interest to, but excluding, the Redemption Date. 
 At any time on or after August 1,
2020, the Securities are redeemable, at the option of the Partnership, in whole or in part, at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest to, but excluding, the
Redemption Date. 

  
 A-1-5 

 The actual Redemption Price, calculated as provided above, shall be calculated and certified to
the Trustee and the Partnership by the Independent Investment Banker. 
 Except as set forth above, the Securities will not be redeemable
prior to their Stated Maturity and will not be entitled to the benefit of any sinking fund. 
  

	6.	Denominations; Transfer; Exchange. 

 The Securities are to be issued in registered form,
without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer of, or exchange, Securities in accordance with the Indenture. The Registrar may require a Holder, among other things,
to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. 
  

	7.	Person Deemed Owners. 

 The registered Holder of a Security may be treated as the owner
of it for all purposes. 
  

	8.	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Indenture may be
amended or supplemented, and any existing Event of Default or compliance with any provision may be waived, with the consent of the Holders of a majority in principal amount of the outstanding Debt Securities of each series affected. Without consent
of any Holder of a Security, the parties thereto may amend or supplement the Indenture to, among other things, cure any ambiguity or omission, to correct any defect or inconsistency, or to make any other change that does not adversely affect the
rights of any Holder of a Security. Any such consent or waiver by the Holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Security and
any Securities which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon this Security or such other Securities. 

 

	9.	Defaults and Remedies. 

 Certain events of bankruptcy or insolvency are Events of Default
that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default
with respect to the Securities occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities,
together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a
declaration of acceleration has been made, the Holders of a majority in principal amount of the outstanding Securities, by written notice to the Trustee, may rescind such declaration and annul its consequences if the rescission would not conflict
with any judgment or decree of a court of competent jurisdiction and if all existing Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest which has become due solely by such
declaration acceleration, shall have been cured or shall have been waived. No such rescission shall affect any 

  
 A-1-6 

 
subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require
indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the Trustee in its
exercise of any trust or power. 
  

	10.	Trustee Dealings with Partnership. 

 The Trustee under the Indenture, in its individual
or any other capacity, may make loans to, accept deposits from, and perform services for the Partnership or its Affiliates, and may otherwise deal with the Partnership or its Affiliates as if it were not the Trustee. 

 

	11.	Authentication. 

 This Security shall not be valid until the Trustee signs the
certificate of authentication on the other side of this Security. 
  

	12.	Abbreviations and Defined Terms. 

 Customary abbreviations may be used in the name of a
Holder of a Security or an assignee, such as: TEN COM (tenant in common), TEN ENT (tenants by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (Custodian), and U/G/M/A (Uniform Gifts to Minors
Act). 
  

	13.	CUSIP Numbers. 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Partnership has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such number as printed on the Securities
and reliance may be placed only on the other identification numbers printed hereon. 
  

	14.	Absolute Obligation. 

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

	15.	No Recourse. 

 No director, officer, employee, limited partner or shareholder, as such,
of the Partnership or the General Partner shall have any personal liability in respect of the obligations of the Partnership under the Securities, the Indenture or any Guarantee by reason of his, her or its status. Each Holder by accepting the
Securities waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 

  
 A-1-7 

	16.	Governing Law. 

 This Security shall be construed in accordance with and governed by the
laws of the State of New York. 
 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according
to applicable laws or regulations: 
  

			
	TEN COM—as tenants in common	  	UNIF GIFT MIN ACT—
		  	 (Cust.)

	TEN ENT—as tenants by entireties	  	Custodian for:
		  	 (Minor)

	 JT TEN—as joint tenants with right of

survivorship and not as tenants in common
	  	Under Uniform Gifts to Minors Act of
		  	 (State)

 Additional abbreviations may also be used though not in the above list. 

ASSIGNMENT 
 FOR VALUE RECEIVED, the
undersigned hereby sell(s), assign(s) and transfer(s) unto 
 PLEASE INSERT SOCIAL SECURITY OR OTHER 

IDENTIFYING NUMBER OF ASSIGNEE 
 Please print or type name and
address including postal zip code of assignee: 
 the within Security and all rights thereunder, hereby irrevocably constituting and appointing to transfer
said Security on the books of the Partnership, with full power of substitution in the premises. 
  

			
	Dated	  	Registered Holder

  
 A-1-8 

 SCHEDULE OF INCREASES OR DECREASES 

IN GLOBAL SECURITY* 
 The
following increases or decreases in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of Decrease
in Principal Amount
of this Global
Security	  	Amount of Increase
in Principal Amount
of this Global
Security	  	Principal Amount of
this Global Security
Following Such
Decrease (or Increase)	  	Signature of
Authorized Officer of
Trustee or Depositary

 

	*	To be included in a Book-Entry Note. 

  
 A-1-9 

 Exhibit A-2 

FORM OF NOTE 
 [FACE OF
SECURITY] 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) (55 WATER STREET, NEW
YORK, NEW YORK 10041) TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 [TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO HEREIN.]* 
  

			
	No.            	  	    $                    
		  	CUSIP: 29273R AY5
		  	ISIN: US29273RAY53

 ENERGY TRANSFER PARTNERS, L.P. 

4.90% SENIOR NOTES DUE 2024 

ENERGY TRANSFER PARTNERS, L.P., a Delaware limited partnership (the “Partnership,” which term includes any successor under the
Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co.* or its registered assigns, the principal sum of
                    U.S. dollars
($                    ), [or such greater or lesser principal sum as is shown on the attached Schedule of Increases and Decreases in Global Security]**, on February 1, 2024 in such coin and currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest
thereon at an annual rate of 4.90% payable on February 1 and August 1 of each year, to the person in whose name the Security is registered at the close of business on the record date for such interest, which shall be the preceding
January 15 or July 15 (each, a “Regular Record Date”), respectively, payable commencing on February 1, 2014. 

Reference is made to the further provisions of this Security set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
  

	*	To be included in Book Entry Note. 

  
 A-2-1 

 The statements in the legends set forth in this Security are an integral part of the terms of
this Security and by acceptance hereof the Holder of this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such legend. 

This Security is issued in respect of a series of Debt Securities of an initial aggregate principal amount of $350,000,000 designated as the
4.90% Senior Notes due 2024 of the Partnership and is governed by the Indenture dated as of January 18, 2005 (the “Base Indenture”), duly executed and delivered by the Partnership, as issuer, to Wachovia Bank, National Association, as
trustee, as supplemented by the Thirteenth Supplemental Indenture dated as of September 19, 2013, duly executed by the Partnership and U.S. Bank National Association (the “Trustee”), as successor to Wachovia Bank, National
Association, (the “Thirteenth Supplemental Indenture”, and together with the Base Indenture, the “Indenture”). The terms of the Indenture are incorporated herein by reference. This Security shall in all respects be entitled to
the same benefits as definitive Debt Securities under the Indenture. 
 If and to the extent any provision of the Indenture limits,
qualifies or conflicts with any other provision of the Indenture that is required to be included in the Indenture or is deemed applicable to the Indenture by virtue of the provisions of the Trust Indenture Act of 1939, as amended (the
“TIA”), such required provision shall control. 
 This Security shall not be valid or become obligatory for any purpose until the
Trustee’s Certificate of Authentication hereon shall have been manually signed by the Trustee under the Indenture. 

  
 A-2-2 

 IN WITNESS WHEREOF, the Partnership has caused this instrument to be duly executed by its sole
General Partner. 
 Dated: 
  

			
	ENERGY TRANSFER PARTNERS, L.P.
		
	By:	 	Energy Transfer Partners GP, L.P.
	Its:	 	General Partner
		
	By:	 	Energy Transfer Partners, L.L.C.
	Its:	 	General Partner
		
	By:	 	 
	Name:
	Title:
		
	By:	 	 
	Name:
	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

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

 

			
	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-2-3 

 [REVERSE OF SECURITY] 

ENERGY TRANSFER PARTNERS, L.P. 

4.90% SENIOR NOTES DUE 2043 

This Security is one of a duly authorized issue of debentures, notes or other evidences of indebtedness of the Partnership (the “Debt
Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to the Indenture, to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Partnership and the Holders of the Debt Securities. The Debt Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at
different times, may bear interest (if any) at different rates, may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as provided in the Indenture. This Security is one of a series designated as the 4.90%
Senior Notes due 2024 of the Partnership, in an initial aggregate principal amount of $350,000,000 (the “Securities”). 
  

	1.	Interest. 

 The Partnership promises to pay interest on the principal amount of this
Security at the rate of 4.90% per annum. 
 The Partnership will pay interest semi-annually on February 1 and August 1 of
each year (each an “Interest Payment Date”), commencing February 1, 2014. Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid on the Securities, from
September 19, 2013. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. The Partnership shall pay interest (including post-petition interest in any proceeding under any applicable bankruptcy laws) on
overdue installments of interest (without regard to any applicable grace period) and on overdue principal and premium, if any, from time to time on demand at the same rate per annum, in each case to the extent lawful. 

 

	2.	Method of Payment. 

 The Partnership shall pay interest on the Securities (except
Defaulted Interest) to the persons who are the registered Holders at the close of business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for (“Defaulted
Interest”) may be paid to the persons who are registered Holders at the close of business on a special record date for the payment of such Defaulted Interest, or in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may then be listed if such manner of payment shall be deemed practicable by the Trustee, as more fully provided in the Indenture. The Partnership shall pay principal, premium, if any, and interest in such
coin or currency of the United States of America as at the time of payment shall be legal tender for payment of public and private debts. Payments in respect of a Global Security (including principal, premium, if any, and interest) will be made by
wire transfer of immediately available funds to the accounts specified by the Depositary. Payments in respect of Securities in definitive form (including principal, premium, if any, and interest) will be made at the office or agency of the
Partnership maintained for such purpose 

  
 A-2-4 

 
within The City of New York, which initially will be at the corporate trust office of the Trustee located at 100 Wall Street, Suite 1600, New York, New York 10005, Mail Station: EX-NY-WALL, or,
at the option of the Partnership, payment of interest may be made by check mailed to the Holders on the relevant record date at their addresses set forth in the register of Holders maintained by the Registrar or at the option of the Holder, payment
of interest on Securities in definitive form will be made by wire transfer of immediately available funds to any account maintained in the United States, provided such Holder has requested such method of payment and provided timely wire transfer
instructions to the Paying Agent. The Holder must surrender this Security to a Paying Agent to collect payment of principal. 
  

	3.	Paying Agent and Registrar. 

 Initially, U.S. Bank National Association will act as
Paying Agent and Registrar. The Partnership may change any Paying Agent or Registrar at any time upon notice to the Trustee and the Holders. The Partnership may act as Paying Agent. 

 

	4.	Indenture. 

 This Security is one of a duly authorized issue of Debt Securities of the
Partnership issued and to be issued in one or more series under the Indenture. 
 Capitalized terms herein are used as defined in the
Indenture unless otherwise defined herein. The terms of the Securities include those stated in the Base Indenture, those made part of the Indenture by reference to the TIA, as in effect on the date of the Base Indenture, and those terms stated in
the Thirteenth Supplemental Indenture. The Securities are subject to all such terms, and Holders of Securities are referred to the Base Indenture, the Thirteenth Supplemental Indenture and the TIA for a statement of them. The Securities of this
series are general unsecured obligations of the Partnership limited to an initial aggregate principal amount of $350,000,000; provided, however, that the authorized aggregate principal amount of such series may be increased from time to time
as provided in the Thirteenth Supplemental Indenture. 
  

	5.	Redemption. 

 Optional Redemption. Prior to November 1, 2023, the Securities
are redeemable, at the option of the Partnership, at any time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the Securities to be redeemed; or (ii) the sum of the
present values of the remaining scheduled payments of principal and interest (at the rate in effect on the date of calculation of the Redemption Price) on the Securities to be redeemed that would be due after the related Redemption Date but for such
redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 35 basis
points; plus, in either case, accrued and unpaid interest to, but excluding, the Redemption Date. 
 At any time on or after
November 1, 2023, the Securities are redeemable, at the option of the Partnership, in whole or in part, at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest to, but
excluding, the Redemption Date. 

  
 A-2-5 

 The actual Redemption Price, calculated as provided above, shall be calculated and certified to
the Trustee and the Partnership by the Independent Investment Banker. 
 Except as set forth above, the Securities will not be redeemable
prior to their Stated Maturity and will not be entitled to the benefit of any sinking fund. 
  

	6.	Denominations; Transfer; Exchange. 

 The Securities are to be issued in registered form,
without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer of, or exchange, Securities in accordance with the Indenture. The Registrar may require a Holder, among other things,
to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. 
  

	7.	Person Deemed Owners. 

 The registered Holder of a Security may be treated as the owner
of it for all purposes. 
  

	8.	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Indenture may be
amended or supplemented, and any existing Event of Default or compliance with any provision may be waived, with the consent of the Holders of a majority in principal amount of the outstanding Debt Securities of each series affected. Without consent
of any Holder of a Security, the parties thereto may amend or supplement the Indenture to, among other things, cure any ambiguity or omission, to correct any defect or inconsistency, or to make any other change that does not adversely affect the
rights of any Holder of a Security. Any such consent or waiver by the Holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Security and
any Securities which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon this Security or such other Securities. 

 

	9.	Defaults and Remedies. 

 Certain events of bankruptcy or insolvency are Events of Default
that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default
with respect to the Securities occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities,
together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a
declaration of acceleration has been made, the Holders of a majority in principal amount of the outstanding Securities, by written notice to the Trustee, may rescind such declaration and annul its consequences if the rescission would not conflict
with any judgment or decree of a court of competent jurisdiction and if all existing Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest which has become due solely by such
declaration acceleration, shall have been cured or shall have been waived. No such rescission shall affect any 

  
 A-2-6 

 
subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require
indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the Trustee in its
exercise of any trust or power. 
  

	10.	Trustee Dealings with Partnership. 

 The Trustee under the Indenture, in its individual
or any other capacity, may make loans to, accept deposits from, and perform services for the Partnership or its Affiliates, and may otherwise deal with the Partnership or its Affiliates as if it were not the Trustee. 

 

	11.	Authentication. 

 This Security shall not be valid until the Trustee signs the
certificate of authentication on the other side of this Security. 
  

	12.	Abbreviations and Defined Terms. 

 Customary abbreviations may be used in the name of a
Holder of a Security or an assignee, such as: TEN COM (tenant in common), TEN ENT (tenants by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (Custodian), and U/G/M/A (Uniform Gifts to Minors
Act). 
  

	13.	CUSIP Numbers. 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Partnership has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such number as printed on the Securities
and reliance may be placed only on the other identification numbers printed hereon. 
  

	14.	Absolute Obligation. 

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

	15.	No Recourse. 

 No director, officer, employee, limited partner or shareholder, as such,
of the Partnership or the General Partner shall have any personal liability in respect of the obligations of the Partnership under the Securities, the Indenture or any Guarantee by reason of his, her or its status. Each Holder by accepting the
Securities waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 

  
 A-2-7 

	16.	Governing Law. 

 This Security shall be construed in accordance with and governed by the
laws of the State of New York. 

  
 A-2-8 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according
to applicable laws or regulations: 
  

			
	TEN COM—as tenants in common	  	UNIF GIFT MIN ACT—
		  	 (Cust.)

	TEN ENT—as tenants by entireties	  	Custodian for:
		  	 (Minor)

	 JT TEN—as joint tenants with right of

survivorship and not as tenants in common
	  	Under Uniform Gifts to Minors Act of
		  	 (State)

 Additional abbreviations may also be used though not in the above list. 

ASSIGNMENT 
 FOR VALUE RECEIVED, the
undersigned hereby sell(s), assign(s) and transfer(s) unto 
 PLEASE INSERT SOCIAL SECURITY OR OTHER 

IDENTIFYING NUMBER OF ASSIGNEE 
 Please print or type name and
address including postal zip code of assignee: 
 the within Security and all rights thereunder, hereby irrevocably constituting and appointing to transfer
said Security on the books of the Partnership, with full power of substitution in the premises. 
  

			
	Dated	  	Registered Holder

  
 A-2-9 

 SCHEDULE OF INCREASES OR DECREASES 

IN GLOBAL SECURITY* 
 The
following increases or decreases in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of Decrease
in Principal Amount
of this Global
Security	  	Amount of Increase
in Principal Amount
of this Global
Security	  	Principal Amount of
this Global Security
Following Such
Decrease (or Increase)	  	Signature of
Authorized Officer of
Trustee or Depositary

 

	*	To be included in a Book-Entry Note. 

  
 A-2-10 

 Exhibit A-3 

FORM OF NOTE 
 [FACE OF
SECURITY] 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) (55 WATER STREET, NEW
YORK, NEW YORK 10041) TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 [TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO HEREIN.]* 
  

			
	No.             	  	$                    
		  	CUSIP: 29273R AZ2
		  	ISIN: US29273RAZ29

 ENERGY TRANSFER PARTNERS, L.P. 

5.95% SENIOR NOTES DUE 2043 

ENERGY TRANSFER PARTNERS, L.P., a Delaware limited partnership (the “Partnership,” which term includes any successor under the
Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co.* or its registered assigns, the principal sum of
                     U.S. dollars
($                    ), [or such greater or lesser principal sum as is shown on the attached Schedule of Increases and Decreases in Global
Security]**, on October 1, 2043 in such coin and currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest thereon at an annual rate of 5.95%
payable on April 1 and October 1 of each year, to the person in whose name the Security is registered at the close of business on the record date for such interest, which shall be the preceding March 15 or September 15 (each, a
“Regular Record Date”), respectively, payable commencing on April 1, 2014. 
 Reference is made to the further provisions of
this Security set forth on the reverse hereof. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

 

	*	To be included in Book Entry Note. 

  
 A-3-1 

 The statements in the legends set forth in this Security are an integral part of the terms of
this Security and by acceptance hereof the Holder of this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such legend. 

This Security is issued in respect of a series of Debt Securities of an initial aggregate principal amount of $450,000,000 designated as the
5.95% Senior Notes due 2043 of the Partnership and is governed by the Indenture dated as of January 18, 2005 (the “Base Indenture”), duly executed and delivered by the Partnership, as issuer, to Wachovia Bank, National Association, as
trustee, as supplemented by the Thirteenth Supplemental Indenture dated as of September 19, 2013, duly executed by the Partnership and U.S. Bank National Association (the “Trustee”), as successor to Wachovia Bank, National
Association, (the “Thirteenth Supplemental Indenture”, and together with the Base Indenture, the “Indenture”). The terms of the Indenture are incorporated herein by reference. This Security shall in all respects be entitled to
the same benefits as definitive Debt Securities under the Indenture. 
 If and to the extent any provision of the Indenture limits,
qualifies or conflicts with any other provision of the Indenture that is required to be included in the Indenture or is deemed applicable to the Indenture by virtue of the provisions of the Trust Indenture Act of 1939, as amended (the
“TIA”), such required provision shall control. 
 This Security shall not be valid or become obligatory for any purpose until the
Trustee’s Certificate of Authentication hereon shall have been manually signed by the Trustee under the Indenture. 

  
 A-3-2 

 IN WITNESS WHEREOF, the Partnership has caused this instrument to be duly executed by its sole
General Partner. 
 Dated: 
  

			
	ENERGY TRANSFER PARTNERS, L.P.
		
	By:	 	Energy Transfer Partners GP, L.P.
	Its:	 	General Partner
		
	By:	 	Energy Transfer Partners, L.L.C.
	Its:	 	General Partner
		
	By:	 	 
	Name:	 	
	Title:	 	
		
	By:	 	 
	Name:	 	
	Title:	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

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

U.S. BANK NATIONAL ASSOCIATION, 
 as Trustee 

 

			
	 By:
	 	 
		 	Authorized Signatory

  
 A-3-3 

 [REVERSE OF SECURITY] 

ENERGY TRANSFER PARTNERS, L.P. 

5.95% SENIOR NOTES DUE 2043 

This Security is one of a duly authorized issue of debentures, notes or other evidences of indebtedness of the Partnership (the “Debt
Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to the Indenture, to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Partnership and the Holders of the Debt Securities. The Debt Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at
different times, may bear interest (if any) at different rates, may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as provided in the Indenture. This Security is one of a series designated as the 5.95%
Senior Notes due 2043 of the Partnership, in an initial aggregate principal amount of $450,000,000 (the “Securities”). 
  

	1.	Interest. 

 The Partnership promises to pay interest on the principal amount of this
Security at the rate of 5.95% per annum. 
 The Partnership will pay interest semi-annually on April 1 and October 1 of each
year (each an “Interest Payment Date”), commencing April 1, 2014. Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid on the Securities, from
September 19, 2013. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. The Partnership shall pay interest (including post-petition interest in any proceeding under any applicable bankruptcy laws) on
overdue installments of interest (without regard to any applicable grace period) and on overdue principal and premium, if any, from time to time on demand at the same rate per annum, in each case to the extent lawful. 

 

	2.	Method of Payment. 

 The Partnership shall pay interest on the Securities (except
Defaulted Interest) to the persons who are the registered Holders at the close of business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for (“Defaulted
Interest”) may be paid to the persons who are registered Holders at the close of business on a special record date for the payment of such Defaulted Interest, or in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may then be listed if such manner of payment shall be deemed practicable by the Trustee, as more fully provided in the Indenture. The Partnership shall pay principal, premium, if any, and interest in such
coin or currency of the United States of America as at the time of payment shall be legal tender for payment of public and private debts. Payments in respect of a Global Security (including principal, premium, if any, and interest) will be made by
wire transfer of immediately available funds to the accounts specified by the Depositary. Payments in respect of Securities in definitive form (including principal, premium, if any, and interest) will be made at the office or agency of the
Partnership maintained for such purpose 

  
 A-3-4 

 
within The City of New York, which initially will be at the corporate trust office of the Trustee located at 100 Wall Street, Suite 1600, New York, New York 10005, Mail Station: EX-NY-WALL, or,
at the option of the Partnership, payment of interest may be made by check mailed to the Holders on the relevant record date at their addresses set forth in the register of Holders maintained by the Registrar or at the option of the Holder, payment
of interest on Securities in definitive form will be made by wire transfer of immediately available funds to any account maintained in the United States, provided such Holder has requested such method of payment and provided timely wire transfer
instructions to the Paying Agent. The Holder must surrender this Security to a Paying Agent to collect payment of principal. 
  

	3.	Paying Agent and Registrar. 

 Initially, U.S. Bank National Association will act as
Paying Agent and Registrar. The Partnership may change any Paying Agent or Registrar at any time upon notice to the Trustee and the Holders. The Partnership may act as Paying Agent. 

 

	4.	Indenture. 

 This Security is one of a duly authorized issue of Debt Securities of the
Partnership issued and to be issued in one or more series under the Indenture. 
 Capitalized terms herein are used as defined in the
Indenture unless otherwise defined herein. The terms of the Securities include those stated in the Base Indenture, those made part of the Indenture by reference to the TIA, as in effect on the date of the Base Indenture, and those terms stated in
the Thirteenth Supplemental Indenture. The Securities are subject to all such terms, and Holders of Securities are referred to the Base Indenture, the Thirteenth Supplemental Indenture and the TIA for a statement of them. The Securities of this
series are general unsecured obligations of the Partnership limited to an initial aggregate principal amount of $450,000,000; provided, however, that the authorized aggregate principal amount of such series may be increased from time to time
as provided in the Thirteenth Supplemental Indenture. 
  

	5.	Redemption. 

 Optional Redemption. Prior to April 1, 2043, the Securities are
redeemable, at the option of the Partnership, at any time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the Securities to be redeemed; or (ii) the sum of the
present values of the remaining scheduled payments of principal and interest (at the rate in effect on the date of calculation of the Redemption Price) on the Securities to be redeemed that would be due after the related Redemption Date but for such
redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 37.5 basis
points; plus, in either case, accrued and unpaid interest to, but excluding, the Redemption Date. 
 At any time on or after April 1,
2043, the Securities are redeemable, at the option of the Partnership, in whole or in part, at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest to, but excluding, the
Redemption Date. 

  
 A-3-5 

 The actual Redemption Price, calculated as provided above, shall be calculated and certified to
the Trustee and the Partnership by the Independent Investment Banker. 
 Except as set forth above, the Securities will not be redeemable
prior to their Stated Maturity and will not be entitled to the benefit of any sinking fund. 
  

	6.	Denominations; Transfer; Exchange. 

 The Securities are to be issued in registered form,
without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer of, or exchange, Securities in accordance with the Indenture. The Registrar may require a Holder, among other things,
to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. 
  

	7.	Person Deemed Owners. 

 The registered Holder of a Security may be treated as the owner
of it for all purposes. 
  

	8.	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Indenture may be
amended or supplemented, and any existing Event of Default or compliance with any provision may be waived, with the consent of the Holders of a majority in principal amount of the outstanding Debt Securities of each series affected. Without consent
of any Holder of a Security, the parties thereto may amend or supplement the Indenture to, among other things, cure any ambiguity or omission, to correct any defect or inconsistency, or to make any other change that does not adversely affect the
rights of any Holder of a Security. Any such consent or waiver by the Holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Security and
any Securities which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon this Security or such other Securities. 

 

	9.	Defaults and Remedies. 

 Certain events of bankruptcy or insolvency are Events of Default
that will result in the principal amount of the Securities, together with premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default
with respect to the Securities occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities,
together with premium, if any, and accrued and unpaid interest thereon, to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a
declaration of acceleration has been made, the Holders of a majority in principal amount of the outstanding Securities, by written notice to the Trustee, may rescind such declaration and annul its consequences if the rescission would not conflict
with any judgment or decree of a court of competent jurisdiction and if all existing Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest which has become due solely by such
declaration acceleration, shall have been cured or shall have been waived. No such rescission shall affect any 

  
 A-3-6 

 
subsequent default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require
indemnity or security satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the Trustee in its
exercise of any trust or power. 
  

	10.	Trustee Dealings with Partnership. 

 The Trustee under the Indenture, in its individual
or any other capacity, may make loans to, accept deposits from, and perform services for the Partnership or its Affiliates, and may otherwise deal with the Partnership or its Affiliates as if it were not the Trustee. 

 

	11.	Authentication. 

 This Security shall not be valid until the Trustee signs the
certificate of authentication on the other side of this Security. 
  

	12.	Abbreviations and Defined Terms. 

 Customary abbreviations may be used in the name of a
Holder of a Security or an assignee, such as: TEN COM (tenant in common), TEN ENT (tenants by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (Custodian), and U/G/M/A (Uniform Gifts to Minors
Act). 
  

	13.	CUSIP Numbers. 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Partnership has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such number as printed on the Securities
and reliance may be placed only on the other identification numbers printed hereon. 
  

	14.	Absolute Obligation. 

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

	15.	No Recourse. 

 No director, officer, employee, limited partner or shareholder, as such,
of the Partnership or the General Partner shall have any personal liability in respect of the obligations of the Partnership under the Securities, the Indenture or any Guarantee by reason of his, her or its status. Each Holder by accepting the
Securities waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 

  
 A-3-7 

	16.	Governing Law. 

 This Security shall be construed in accordance with and governed by the
laws of the State of New York. 

  
 A-3-8 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according
to applicable laws or regulations: 
  

			
	TEN COM—as tenants in common	  	UNIF GIFT MIN ACT—
		  	 (Cust.)

	TEN ENT—as tenants by entireties	  	Custodian for:
		  	 (Minor)

	 JT TEN—as joint tenants with right of

survivorship and not as tenants in common
	  	Under Uniform Gifts to Minors Act of
		  	 (State)

 Additional abbreviations may also be used though not in the above list. 

ASSIGNMENT 
 FOR VALUE RECEIVED, the
undersigned hereby sell(s), assign(s) and transfer(s) unto 
 PLEASE INSERT SOCIAL SECURITY OR OTHER 

IDENTIFYING NUMBER OF ASSIGNEE 
 Please print or type name and
address including postal zip code of assignee: 
 the within Security and all rights thereunder, hereby irrevocably constituting and appointing to transfer
said Security on the books of the Partnership, with full power of substitution in the premises. 
  

			
	Dated	  	Registered Holder

  
 A-3-9 

 SCHEDULE OF INCREASES OR DECREASES 

IN GLOBAL SECURITY* 
 The
following increases or decreases in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of Decrease
in Principal Amount
of this Global
Security	  	Amount of Increase
in Principal Amount
of this Global
Security	  	Principal Amount of
this Global Security
Following Such
Decrease (or Increase)	  	Signature of
Authorized Officer of
Trustee or Depositary

 

	*	To be included in a Book-Entry Note. 

  
 A-3-10EX-10.44

 Exhibit 10.44 

BURLINGTON STORES, INC. 
  

 
 2013 OMNIBUS
INCENTIVE PLAN 
  
  

ARTICLE I 
 PURPOSE

 The purpose of this BURLINGTON STORES, INC. 2013 Omnibus Incentive Plan is to enhance the profitability and value of the
Company for the benefit of its stockholders by enabling the Company to offer Eligible Individuals cash and stock-based incentives in order to attract, retain and reward such individuals and strengthen the
mutuality of interests between such individuals and the Company’s stockholders. The Plan is effective as of the date set forth in Article XV. 

ARTICLE II 
 DEFINITIONS

 For purposes of the Plan, the following terms shall have the following meanings: 

2.1 “Affiliate” means each of the following: (a) any Subsidiary; (b) any Parent; (c) any corporation,
trade or business (including, without limitation, a partnership or limited liability company) which is directly or indirectly controlled 50% or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) by
the Company or one of its Affiliates; (d) any trade or business (including, without limitation, a partnership or limited liability company) which directly or indirectly controls 50% or more (whether by ownership of stock, assets or an
equivalent ownership interest or voting interest) of the Company; and (e) any other entity in which the Company or any of its Affiliates has a material equity interest and which is designated as an “Affiliate” by resolution of the
Committee; provided that, unless otherwise determined by the Committee, the Common Stock subject to any Award constitutes “service recipient stock” for purposes of Section 409A of the Code or otherwise does not subject the Award to
Section 409A of the Code. 
 2.2 “Award” means any award under the Plan of any Stock Option, Stock Appreciation
Right, Restricted Stock, Performance Award, Other Stock-Based Award or Other Cash-Based Award. All Awards shall be granted by, confirmed by, and subject to the terms of, a written agreement executed by the Company and the Participant. 

2.3 “Award Agreement” means the written or electronic agreement setting forth the terms and conditions applicable to
an Award. 
 2.4 “Board” means the Board of Directors of the Company. 

2.5 “Cause” means, unless otherwise determined by the Committee in the applicable Award Agreement, with respect to a
Participant’s Termination of Employment or Termination of 

 
Consultancy, the following: (a) in the case where there is no employment agreement, consulting agreement, change in control agreement or similar agreement in effect between the Company or an
Affiliate and the Participant at the time of the grant of the Award (or where there is such an agreement but it does not define “cause” (or words of like import)), termination due to a Participant’s insubordination, dishonesty, fraud,
incompetence, moral turpitude, willful misconduct, refusal to perform the Participant’s duties or responsibilities for any reason other than illness or incapacity or materially unsatisfactory performance of the Participant’s duties for the
Company or an Affiliate, as determined by the Committee in its good faith discretion; or (b) in the case where there is an employment agreement, consulting agreement, change in control agreement or similar agreement in effect between the
Company or an Affiliate and the Participant at the time of the grant of the Award that defines “cause” (or words of like import), “cause” as defined under such agreement; provided, however, that with regard to any agreement under
which the definition of “cause” only applies on occurrence of a change in control, such definition of “cause” shall not apply until a change in control actually takes place and then only with regard to a termination thereafter.
With respect to a Participant’s Termination of Directorship, “cause” means an act or failure to act that constitutes cause for removal of a director under applicable Delaware law. 

2.6 “Change in Control” has the meaning set forth in 11.2. 

2.7 “Change in Control Price” has the meaning set forth in Section 11.1. 

2.8 “Code” means the Internal Revenue Code of 1986, as amended. Any reference to any section of the Code shall also be
a reference to any successor provision and any treasury regulation promulgated thereunder. 
 2.9 “Committee” means
any committee of the Board duly authorized by the Board to administer the Plan. If no committee is duly authorized by the Board to administer the Plan, the term “Committee” shall be deemed to refer to the Board for all purposes under the
Plan. 
 2.10 “Common Stock” means the common stock, $0.0001 par value per share, of the Company. 

2.11 “Company” means Burlington Stores, Inc., a Delaware corporation, and its successors by operation of law. 

2.12 “Consultant” means any natural person who is an advisor or consultant to the Company or its Affiliates. 

2.13 “Disability” means, unless otherwise determined by the Committee in the applicable Award Agreement, with respect
to a Participant’s Termination, a permanent and total disability as defined in Section 22(e)(3) of the Code. A Disability shall only be deemed to occur at the time of the determination by the Committee of the Disability. Notwithstanding
the foregoing, for Awards that are subject to Section 409A of the Code, Disability shall mean that a Participant is disabled under Section 409A(a)(2)(C)(i) or (ii) of the Code. 

2.14 “Effective Date” means the effective date of the Plan as defined in Article XV. 

2.15 “Eligible Employees” means each employee of the Company or an Affiliate. 

  
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 2.16 “Eligible Individual” means an Eligible Employee, Non-Employee
Director or Consultant who is designated by the Committee in its discretion as eligible to receive Awards subject to the conditions set forth herein. 

2.17 “Exchange Act” means the Securities Exchange Act of 1934, as amended. Reference to a specific section of the
Exchange Act or regulation thereunder shall include such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or
superseding such section or regulation. 
 2.18 “Fair Market Value” means, for purposes of the Plan, unless
otherwise required by any applicable provision of the Code or any regulations issued thereunder, as of any date and except as provided below, the last sales price reported for the Common Stock on the applicable date: (a) as reported on the
principal national securities exchange in the United States on which it is then traded or (b) if the Common Stock is not traded, listed or otherwise reported or quoted, the Committee shall determine in good faith the Fair Market Value in
whatever manner it considers appropriate taking into account the requirements of Section 409A of the Code. For purposes of the grant of any Award, the applicable date shall be the trading day immediately prior to the date on which the Award is
granted. For purposes of the exercise of any Award, the applicable date shall be the date a notice of exercise is received by the Committee or, if not a day on which the applicable market is open, the next day that it is open. 

2.19 “Family Member” means “family member” as defined in Section A.1.(a)(5) of the general instructions of
Form S-8. 
 2.20 “Incentive Stock Option” means any Stock Option awarded to an Eligible Employee of the Company,
its Subsidiaries and its Parents (if any) under the Plan intended to be and designated as an “Incentive Stock Option” within the meaning of Section 422 of the Code. 

2.21 “Lead Underwriter” has the meaning set forth in Section 14.20. 

2.22 “Lock-Up Period” has the meaning set forth in Section 14.20. 

2.23 “Non-Employee Director” means a director or a member of the Board of the Company or any Affiliate who is not an
active employee of the Company or any Affiliate. 
 2.24 “Non-Qualified Stock Option” means any Stock Option awarded
under the Plan that is not an Incentive Stock Option. 
 2.25 “Non-Tandem Stock Appreciation Right” shall mean the
right to receive an amount in cash and/or stock equal to the difference between (x) the Fair Market Value of a share of Common Stock on the date such right is exercised, and (y) the aggregate exercise price of such right, otherwise than on
surrender of a Stock Option. 
 2.26 “Other Cash-Based Award” means an Award granted pursuant to Section 10.3
of the Plan and payable in cash at such time or times and subject to such terms and conditions as determined by the Committee in its sole discretion. 

  
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 2.27 “Other Extraordinary Event” has the meaning set forth in
Section 4.2(b). 
 2.28 “Other Stock-Based Award” means an Award under Article X of the Plan that is valued in
whole or in part by reference to, or is payable in or otherwise based on, Common Stock, including, without limitation, an Award valued by reference to an Affiliate. 

2.29 “Parent” means any parent corporation of the Company within the meaning of Section 424(e) of the Code. 

2.30 “Participant” means an Eligible Individual to whom an Award has been granted pursuant to the Plan. 

2.31 “Performance Award” means an Award granted to a Participant pursuant to Article IX hereof contingent upon
achieving certain Performance Goals. 
 2.32 “Performance Goals” means goals established by the Committee as
contingencies for Awards to vest and/or become exercisable or distributable based on one or more of the performance goals set forth in Exhibit A hereto. 

2.33 “Performance Period” means the designated period during which the Performance Goals must be satisfied with
respect to the Award to which the Performance Goals relate. 
 2.34 “Plan” means this Burlington Stores, Inc. 2013
Omnibus Incentive Plan, as amended from time to time. 
 2.35 “Proceeding” has the meaning set forth in
Section 14.9. 
 2.36 “Reference Stock Option” has the meaning set forth in Section 7.1. 

2.37 “Registration Date” means the date on which the Company sells its Common Stock in a bona fide, firm commitment
underwriting pursuant to a registration statement under the Securities Act. 
 2.38 “Restricted Stock” means an
Award of shares of Common Stock under the Plan that is subject to restrictions under Article VIII. 
 2.39 “Restriction
Period” has the meaning set forth in Section 8.3(a) with respect to Restricted Stock. 
 2.40 “Rule
16b-3” means Rule 16b-3 under Section 16(b) of the Exchange Act as then in effect or any successor provision. 

2.41 “Section 4.2 Event” has the meaning set forth in Section 4.2(b). 

2.42 “Section 162(m) of the Code” means the exception for performance-based compensation under Section 162(m) of
the Code and any applicable treasury regulations thereunder. 

  
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 2.43 “Section 409A of the Code” means the nonqualified deferred
compensation rules under Section 409A of the Code and any applicable treasury regulations and other official guidance thereunder. 

2.44 “Securities Act” means the Securities Act of 1933, as amended and all rules and regulations promulgated
thereunder. Reference to a specific section of the Securities Act or regulation thereunder shall include such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any future
legislation or regulation amending, supplementing or superseding such section or regulation. 
 2.45 “Stock Appreciation
Right” shall mean the right pursuant to an Award granted under Article VII. 
 2.46 “Stock Option” or
“Option” means any option to purchase shares of Common Stock granted to Eligible Individuals granted pursuant to Article VI. 

2.47 “Subsidiary” means any subsidiary corporation of the Company within the meaning of Section 424(f) of the
Code. 
 2.48 “Tandem Stock Appreciation Right” shall mean the right to surrender to the Company all (or a portion)
of a Stock Option in exchange for an amount in cash and/or stock equal to the difference between (i) the Fair Market Value on the date such Stock Option (or such portion thereof) is surrendered, of the Common Stock covered by such Stock Option
(or such portion thereof), and (ii) the aggregate exercise price of such Stock Option (or such portion thereof). 
 2.49
“Ten Percent Stockholder” means a person owning stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company, its Subsidiaries or its Parent. 

2.50 “Termination” means a Termination of Consultancy, Termination of Directorship or Termination of Employment, as
applicable. 
 2.51 “Termination of Consultancy” means: (a) that the Consultant is no longer acting as a
consultant to the Company or an Affiliate; or (b) when an entity which is retaining a Participant as a Consultant ceases to be an Affiliate unless the Participant otherwise is, or thereupon becomes, a Consultant to the Company or another
Affiliate at the time the entity ceases to be an Affiliate. In the event that a Consultant becomes an Eligible Employee or a Non-Employee Director upon the termination of such Consultant’s consultancy,
unless otherwise determined by the Committee, in its sole discretion, no Termination of Consultancy shall be deemed to occur until such time as such Consultant is no longer a Consultant, an Eligible Employee or a
Non-Employee Director. Notwithstanding the foregoing, the Committee may otherwise define Termination of Consultancy in the Award Agreement or, if no rights of a Participant are reduced, may otherwise define
Termination of Consultancy thereafter, provided that any such change to the definition of the term “Termination of Consultancy” does not subject the applicable Award to Section 409A of the Code. 

  
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 2.52 “Termination of Directorship” means that the Non-Employee Director has ceased to be a director of the Company; except that if a Non-Employee Director becomes an Eligible Employee or a Consultant upon the termination of
such Non-Employee Director’s directorship, such Non-Employee Director’s ceasing to be a director of the Company shall not be treated as a Termination of Directorship unless and until the Participant has a Termination of Employment or
Termination of Consultancy, as the case may be. 
 2.53 “Termination of Employment” means: (a) a termination of
employment (for reasons other than a military or personal leave of absence granted by the Company) of a Participant from the Company and its Affiliates; or (b) when an entity which is employing a Participant ceases to be an Affiliate, unless
the Participant otherwise is, or thereupon becomes, employed by the Company or another Affiliate at the time the entity ceases to be an Affiliate. In the event that an Eligible Employee becomes a Consultant or a
Non-Employee Director upon the termination of such Eligible Employee’s employment, unless otherwise determined by the Committee, in its sole discretion, no Termination of Employment shall be deemed to
occur until such time as such Eligible Employee is no longer an Eligible Employee, a Consultant or a Non-Employee Director. Notwithstanding the foregoing, the Committee may otherwise define Termination of
Employment in the Award Agreement or, if no rights of a Participant are reduced, may otherwise define Termination of Employment thereafter, provided that any such change to the definition of the term “Termination of Employment” does not
subject the applicable Award to Section 409A of the Code. 
 2.54 “Transfer” means: (a) when used as
a noun, any direct or indirect transfer, sale, assignment, pledge, hypothecation, encumbrance or other disposition (including the issuance of equity in any entity), whether for value or no value and whether voluntary or involuntary (including by
operation of law), and (b) when used as a verb, to directly or indirectly transfer, sell, assign, pledge, encumber, charge, hypothecate or otherwise dispose of (including the issuance of equity in any entity) whether for value or for no value
and whether voluntarily or involuntarily (including by operation of law). “Transferred” and “Transferable” shall have a correlative meaning. 

2.55 “Transition Period” means the period beginning with the Registration Date and ending as of the earlier of:
(i) the date of the first annual meeting of stockholders of the Company at which directors are to be elected that occurs after the close of the third calendar year following the calendar year in which the Registration Date occurs; and
(ii) the expiration of the “reliance period” under Treasury Regulation Section 1.162-27(f)(2). 
 ARTICLE III 

ADMINISTRATION 
 3.1
The Committee. The Plan shall be administered and interpreted by the Committee. To the extent required by applicable law, rule or regulation, it is intended that each member of the Committee shall qualify as (a) a “non-employee
director” under Rule 16b-3, (b) an “outside director” under Section 162(m) of the Code and (c) an “independent director” under the rules of any national securities exchange or national securities association,
as applicable. If it is later determined that one or more members of the Committee do not so qualify, actions taken by the Committee prior to such determination shall be valid despite such failure to qualify. 

  
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 3.2 Grants of Awards. The Committee shall have full authority to grant, pursuant to
the terms of the Plan, to Eligible Individuals: (i) Stock Options, (ii) Stock Appreciation Rights, (iii) Restricted Stock, (iv) Performance Awards; (v) Other Stock-Based Awards; and (vi) Other Cash-Based Awards. In
particular, the Committee shall have the authority: 
 (a) to select the Eligible Individuals to whom Awards may from time to time be granted
hereunder; 
 (b) to determine whether and to what extent Awards, or any combination thereof, are to be granted hereunder to one or more
Eligible Individuals; 
 (c) to determine the number of shares of Common Stock to be covered by each Award granted hereunder; 

(d) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder (including, but not
limited to, the exercise or purchase price (if any), any restriction or limitation, any vesting schedule or acceleration thereof, or any forfeiture restrictions or waiver thereof, regarding any Award and the shares of Common Stock relating thereto,
based on such factors, if any, as the Committee shall determine, in its sole discretion); 
 (e) to determine the amount of cash to be
covered by each Award granted hereunder; 
 (f) to determine whether, to what extent and under what circumstances grants of Options and
other Awards under the Plan are to operate on a tandem basis and/or in conjunction with or apart from other awards made by the Company outside of the Plan; 

(g) to determine whether and under what circumstances a Stock Option may be settled in cash, Common Stock and/or Restricted Stock under
Section 6.4(d); 
 (h) to determine whether a Stock Option is an Incentive Stock Option or
Non-Qualified Stock Option; 
 (i) to determine whether to require a Participant, as a condition of
the granting of any Award, to not sell or otherwise dispose of shares acquired pursuant to the exercise of an Award for a period of time as determined by the Committee, in its sole discretion, following the date of the acquisition or exercise of
such Award; 
 (j) to modify, extend or renew an Award, subject to Article XII and Section 6.4(l), provided, however, that such action
does not subject the Award to Section 409A of the Code without the consent of the Participant; and 
 (k) solely to the extent
permitted by applicable law, to determine whether, to what extent and under what circumstances to provide loans (which may be on a recourse basis and shall bear interest at the rate the Committee shall provide) to Participants in order to exercise
Options under the Plan. 

  
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 3.3 Guidelines. Subject to Article XII hereof, the Committee shall have the
authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan and perform all acts, including the delegation of its responsibilities (to the extent permitted by applicable law and applicable stock
exchange rules), as it shall, from time to time, deem advisable; to construe and interpret the terms and provisions of the Plan and any Award issued under the Plan (and any agreements relating thereto); and to otherwise supervise the administration
of the Plan. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any agreement relating thereto in the manner and to the extent it shall deem necessary to effectuate the purpose and intent of
the Plan. The Committee may adopt special guidelines and provisions for persons who are residing in or employed in, or subject to, the taxes of, any domestic or foreign jurisdictions to comply with applicable tax and securities laws of such domestic
or foreign jurisdictions. Notwithstanding the foregoing, no action of the Committee under this Section 3.3 shall impair the rights of any Participant without the Participant’s consent. To the extent applicable, the Plan is intended to
comply with the applicable requirements of Rule 16b-3, and with respect to Awards intended to be “performance-based,” the applicable provisions of Section 162(m) of the Code, and the Plan shall be limited, construed and interpreted in
a manner so as to comply therewith. 
 3.4 Decisions Final. Any decision, interpretation or other action made or taken in good
faith by or at the direction of the Company, the Board or the Committee (or any of its members) arising out of or in connection with the Plan shall be within the absolute discretion of all and each of them, as the case may be, and shall be final,
binding and conclusive on the Company and all employees and Participants and their respective heirs, executors, administrators, successors and assigns. 

3.5 Procedures. If the Committee is appointed, the Board shall designate one of the members of the Committee as chairman and the
Committee shall hold meetings, subject to the By-Laws of the Company, at such times and places as it shall deem advisable, including, without limitation, by telephone conference or by written consent to the extent permitted by applicable law. A
majority of the Committee members shall constitute a quorum. All determinations of the Committee shall be made by a majority of its members. Any decision or determination reduced to writing and signed by all of the Committee members in accordance
with the By-Laws of the Company, shall be fully effective as if it had been made by a vote at a meeting duly called and held. The Committee shall keep minutes of its meetings and shall make such rules and regulations for the conduct of its business
as it shall deem advisable. 
 3.6 Designation of Consultants/Liability. 

(a) The Committee may designate employees of the Company and professional advisors to assist the Committee in the administration of the Plan
and (to the extent permitted by applicable law and applicable exchange rules) may grant authority to officers to grant Awards and/or execute agreements or other documents on behalf of the Committee. 

(b) The Committee may employ such legal counsel, consultants and agents as it may deem desirable for the administration of the Plan and may
rely upon any opinion received from any such counsel or consultant and any computation received from any such consultant or agent. Expenses incurred by the Committee or the Board in the engagement of any such counsel,

  
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consultant or agent shall be paid by the Company. The Committee, its members and any person designated pursuant to sub-section (a) above shall not be
liable for any action or determination made in good faith with respect to the Plan. To the maximum extent permitted by applicable law, no officer of the Company or member or former member of the Committee or of the Board shall be liable for any
action or determination made in good faith with respect to the Plan or any Award granted under it. 
 3.7 Indemnification. To
the maximum extent permitted by applicable law and the Certificate of Incorporation and By-Laws of the Company and to the extent not covered by insurance directly insuring such person, each officer or employee of the Company or any Affiliate and
member or former member of the Committee or the Board shall be indemnified and held harmless by the Company against any cost or expense (including reasonable fees of counsel reasonably acceptable to the Committee) or liability (including any sum
paid in settlement of a claim with the approval of the Committee), and advanced amounts necessary to pay the foregoing at the earliest time and to the fullest extent permitted, arising out of any act or omission to act in connection with the
administration of the Plan, except to the extent arising out of such officer’s, employee’s, member’s or former member’s own fraud or bad faith. Such indemnification shall be in addition to any right of indemnification the
employees, officers, directors or members or former officers, directors or members may have under applicable law or under the Certificate of Incorporation or By-Laws of the Company or any Affiliate. Notwithstanding anything else herein, this
indemnification will not apply to the actions or determinations made by an individual with regard to Awards granted to such individual under the Plan. 

ARTICLE IV 
 SHARE
LIMITATION 
 4.1 Shares. (a) The aggregate number of shares of Common Stock that may be issued or used for reference
purposes or with respect to which Awards may be granted under the Plan shall not exceed 6.0 million shares (subject to any increase or decrease pursuant to Section 4.2), which may be either authorized and unissued Common Stock or Common Stock
held in or acquired for the treasury of the Company or both. The maximum number of shares of Common Stock with respect to which Incentive Stock Options may be granted under the Plan shall be 4.0 million shares. With respect to Stock Appreciation
Rights settled in Common Stock, upon settlement, only the number of shares of Common Stock delivered to a Participant (based on the difference between the Fair Market Value of the shares of Common Stock subject to such Stock Appreciation Right on
the date such Stock Appreciation Right is exercised and the exercise price of each Stock Appreciation Right on the date such Stock Appreciation Right was awarded) shall count against the aggregate and individual share limitations set forth under
Sections 4.1(a) and 4.1(b). If any Option, Stock Appreciation Right or Other Stock-Based Awards granted under the Plan expires, terminates or is canceled for any reason without having been exercised in full, the number of shares of Common Stock
underlying any unexercised Award shall again be available for the purpose of Awards under the Plan. If any shares of Restricted Stock, Performance Awards or Other Stock-Based Awards denominated in shares of Common Stock awarded under the Plan to a
Participant are forfeited for any reason, the number of forfeited shares of Restricted Stock, Performance Awards or Other Stock-Based Awards denominated in shares of Common Stock shall again be available for purposes of Awards under the Plan. If a
Tandem Stock Appreciation Right or a Limited Stock Appreciation Right is granted in tandem with an Option, such grant shall only apply once against 

  
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the maximum number of shares of Common Stock which may be issued under the Plan. Any Award under the Plan settled in cash shall not be counted against the foregoing maximum share limitations.

 (b) Individual Participant Limitations. To the extent required by Section 162(m) of the Code for Awards under the Plan to
qualify as “performance-based compensation,” the following individual Participant limitations shall only apply after the expiration of the Transition Period: 

(i) The maximum number of shares of Common Stock subject to any Award of Stock Options, or Stock Appreciation Rights, or shares of Restricted
Stock, or Other Stock-Based Awards for which the grant of such Award or the lapse of the relevant Restriction Period is subject to the attainment of Performance Goals in accordance with Section 8.3(a)(ii) which may be granted under the Plan
during any fiscal year of the Company to any Participant shall be 4.0 million shares per type of Award (which shall be subject to any further increase or decrease pursuant to Section 4.2), provided that the maximum number of shares of Common
Stock for all types of Awards does not exceed 4.0 million shares (which shall be subject to any further increase or decrease pursuant to Section 4.2) during any fiscal year of the Company. If a Tandem Stock Appreciation Right is granted or a
Limited Stock Appreciation Right is granted in tandem with a Stock Option, it shall apply against the Participant’s individual share limitations for both Stock Appreciation Rights and Stock Options. 

(ii) There are no annual individual share limitations applicable to Participants on Restricted Stock or Other Stock-Based Awards for which
the grant, vesting or payment (as applicable) of any such Award is not subject to the attainment of Performance Goals. 
 (iii) The maximum
number of shares of Common Stock subject to any Performance Award which may be granted under the Plan during any fiscal year of the Company to any Participant shall be 4.0 million shares (which shall be subject to any further increase or decrease
pursuant to Section 4.2) with respect to any fiscal year of the Company. 
 (iv) The maximum value of a cash payment made under a
Performance Award which may be granted under the Plan with respect to any fiscal year of the Company to any Participant shall be $6.0 million. 

(v) The individual Participant limitations set forth in this Section 4.1(b) (other than Section 4.1(b)(iii)) shall be cumulative;
that is, to the extent that shares of Common Stock for which Awards are permitted to be granted to a Participant during a fiscal year are not covered by an Award to such Participant in a fiscal year, the number of shares of Common Stock available
for Awards to such Participant shall automatically increase in the subsequent fiscal years during the term of the Plan until used. 
 4.2
Changes. 
 (a) The existence of the Plan and the Awards granted hereunder shall not affect in any way the right or power
of the Board or the stockholders of the Company to make or authorize (i) any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, (ii) any merger or consolidation of the
Company or any Affiliate, 

  
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(iii) any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock, (iv) the dissolution or liquidation of the Company or any Affiliate,
(v) any sale or transfer of all or part of the assets or business of the Company or any Affiliate or (vi) any other corporate act or proceeding. 

(b) Subject to the provisions of Section 11.1, if there shall occur any such change in the capital structure of the Company by reason of
any stock split, reverse stock split, stock dividend, subdivision, combination or reclassification of shares that may be issued under the Plan, any recapitalization, any merger, any consolidation, any spin off, any reorganization or any partial or
complete liquidation, or any other corporate transaction or event having an effect similar to any of the foregoing (a “Section 4.2 Event”), then (i) the aggregate number and/or kind of shares that thereafter may be issued under
the Plan, (ii) the number and/or kind of shares or other property (including cash) to be issued upon exercise of an outstanding Award granted under the Plan, and/or (iii) the purchase price thereof, shall be appropriately adjusted. In
addition, subject to Section 11.1, if there shall occur any change in the capital structure or the business of the Company that is not a Section 4.2 Event (an “Other Extraordinary Event”), including by reason of any
extraordinary dividend (whether cash or stock), any conversion, any adjustment, any issuance of any class of securities convertible or exercisable into, or exercisable for, any class of stock, or any sale or transfer of all or substantially all of
the Company’s assets or business, then the Committee, in its sole discretion, may adjust any Award and make such other adjustments to the Plan. Any adjustment pursuant to this Section 4.2 shall be consistent with the applicable
Section 4.2 Event or the applicable Other Extraordinary Event, as the case may be, and in such manner as the Committee may, in its sole discretion, deem appropriate and equitable to prevent substantial dilution or enlargement of the rights
granted to, or available for, Participants under the Plan. Any such adjustment determined by the Committee shall be final, binding and conclusive on the Company and all Participants and their respective heirs, executors, administrators, successors
and permitted assigns. Except as expressly provided in this Section 4.2 or in the applicable Award Agreement, a Participant shall have no rights by reason of any Section 4.2 Event or any Other Extraordinary Event. 

(c) Fractional shares of Common Stock resulting from any adjustment in Awards pursuant to Section 4.2(a) or 4.2(b) shall be aggregated
until, and eliminated at, the time of exercise by rounding-down for fractions less than one-half and rounding-up for fractions equal to or greater than one-half. No cash settlements shall be made with respect to fractional shares eliminated by
rounding. Notice of any adjustment shall be given by the Committee to each Participant whose Award has been adjusted and such adjustment (whether or not such notice is given) shall be effective and binding for all purposes of the Plan. 

4.3 Minimum Purchase Price. Notwithstanding any provision of the Plan to the contrary, if authorized but previously unissued
shares of Common Stock are issued under the Plan, such shares shall not be issued for a consideration that is less than as permitted under applicable law. 

  
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 ARTICLE V 

ELIGIBILITY 
 5.1
General Eligibility. All current and prospective Eligible Individuals are eligible to be granted Awards. Eligibility for the grant of Awards and actual participation in the Plan shall be determined by the Committee in its sole discretion.

 5.2 Incentive Stock Options. Notwithstanding the foregoing, only Eligible Employees of the Company, its Subsidiaries and
its Parent (if any) are eligible to be granted Incentive Stock Options under the Plan. Eligibility for the grant of an Incentive Stock Option and actual participation in the Plan shall be determined by the Committee in its sole discretion. 

5.3 General Requirement. The vesting and exercise of Awards granted to a prospective Eligible Individual are conditioned upon
such individual actually becoming an Eligible Employee, Consultant or Non-Employee Director, respectively. 
 ARTICLE VI 

STOCK OPTIONS 
 6.1
Options. Stock Options may be granted alone or in addition to other Awards granted under the Plan. Each Stock Option granted under the Plan shall be of one of two types: (a) an Incentive Stock Option or (b) a Non-Qualified Stock
Option. 
 6.2 Grants. The Committee shall have the authority to grant to any Eligible Employee one or more Incentive Stock
Options, Non-Qualified Stock Options, or both types of Stock Options. The Committee shall have the authority to grant any Consultant or Non-Employee Director one or more Non-Qualified Stock Options. To the extent that any Stock Option does not
qualify as an Incentive Stock Option (whether because of its provisions or the time or manner of its exercise or otherwise), such Stock Option or the portion thereof which does not so qualify shall constitute a separate Non-Qualified Stock Option.

 6.3 Incentive Stock Options. Notwithstanding anything in the Plan to the contrary, no term of the Plan relating to
Incentive Stock Options shall be interpreted, amended or altered, nor shall any discretion or authority granted under the Plan be so exercised, so as to disqualify the Plan under Section 422 of the Code, or, without the consent of the
Participants affected, to disqualify any Incentive Stock Option under such Section 422. 
 6.4 Terms of Options. Options
granted under the Plan shall be subject to the following terms and conditions and shall be in such form and contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee shall deem desirable: 

(a) Exercise Price. The exercise price per share of Common Stock subject to a Stock Option shall be determined by the Committee at the
time of grant, provided that the per share exercise price of a Stock Option shall not be less than 100% (or, in the case of an Incentive Stock Option granted to a Ten Percent Stockholder, 110%) of the Fair Market Value of the Common Stock at the
time of grant. 

  
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 (b) Stock Option Term. The term of each Stock Option shall be fixed by the Committee,
provided that no Stock Option shall be exercisable more than 10 years after the date the Option is granted; and provided further that the term of an Incentive Stock Option granted to a Ten Percent Stockholder shall not exceed five years. 

(c) Exercisability. Unless otherwise provided by the Committee in accordance with the provisions of this Section 6.4, Stock
Options granted under the Plan shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee at the time of grant. If the Committee provides, in its discretion, that any Stock Option is
exercisable subject to certain limitations (including, without limitation, that such Stock Option is exercisable only in installments or within certain time periods), the Committee may waive such limitations on the exercisability at any time at or
after the time of grant in whole or in part (including, without limitation, waiver of the installment exercise provisions or acceleration of the time at which such Stock Option may be exercised), based on such factors, if any, as the Committee shall
determine, in its sole discretion. 
 (d) Method of Exercise. Subject to whatever installment exercise and waiting period provisions
apply under Section 6.4(c), to the extent vested, Stock Options may be exercised in whole or in part at any time during the Option term, by giving written notice of exercise to the Company specifying the number of shares of Common Stock to be
purchased. Such notice shall be accompanied by payment in full of the purchase price as follows: (i) in cash or by check, bank draft or money order payable to the order of the Company; (ii) solely to the extent permitted by applicable law,
if the Common Stock is traded on a national securities exchange, and the Committee authorizes, through a procedure whereby the Participant delivers irrevocable instructions to a broker reasonably acceptable to the Committee to deliver promptly to
the Company an amount equal to the purchase price; or (iii) on such other terms and conditions as may be acceptable to the Committee (including, without limitation, having the Company withhold shares of Common Stock issuable upon exercise of
the Stock Option, or by payment in full or in part in the form of Common Stock owned by the Participant, based on the Fair Market Value of the Common Stock on the payment date as determined by the Committee). No shares of Common Stock shall be
issued until payment therefor, as provided herein, has been made or provided for. 
 (e) Non-Transferability of Options. No Stock
Option shall be Transferable by the Participant other than by will or by the laws of descent and distribution, and all Stock Options shall be exercisable, during the Participant’s lifetime, only by the Participant. Notwithstanding the
foregoing, the Committee may determine, in its sole discretion, at the time of grant or thereafter that a Non-Qualified Stock Option that is otherwise not Transferable pursuant to this Section is Transferable to a Family Member in whole or in part
and in such circumstances, and under such conditions, as specified by the Committee. A Non-Qualified Stock Option that is Transferred to a Family Member pursuant to the preceding sentence (i) may not be subsequently Transferred other than by
will or by the laws of descent and distribution and (ii) remains subject to the terms of the Plan and the applicable Award Agreement. Any shares of Common Stock acquired upon the exercise of a Non-Qualified Stock Option by a permissible
transferee of a Non-Qualified Stock Option or a permissible transferee pursuant to a Transfer after the exercise of the Non-Qualified Stock Option shall be subject to the terms of the Plan and the applicable Award Agreement. 

  
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 (f) Termination by Death or Disability. Unless otherwise determined by the Committee at
the time of grant, or if no rights of the Participant are reduced, thereafter, if a Participant’s Termination is by reason of death or Disability, all Stock Options that are held by such Participant that are vested and exercisable at the time
of the Participant’s Termination may be exercised by the Participant (or in the case of the Participant’s death, by the legal representative of the Participant’s estate) at any time within a period of one (1) year from the date
of such Termination, but in no event beyond the expiration of the stated term of such Stock Options; provided, however, that, in the event of a Participant’s Termination by reason of Disability, if the Participant dies within such exercise
period, all unexercised Stock Options held by such Participant shall thereafter be exercisable, to the extent to which they were exercisable at the time of death, for a period of one (1) year from the date of such death, but in no event beyond
the expiration of the stated term of such Stock Options. 
 (g) Involuntary Termination Without Cause. Unless otherwise determined by
the Committee at the time of grant, or if no rights of the Participant are reduced, thereafter, if a Participant’s Termination is by involuntary termination by the Company without Cause, all Stock Options that are held by such Participant that
are vested and exercisable at the time of the Participant’s Termination may be exercised by the Participant at any time within a period of ninety (90) days from the date of such Termination, but in no event beyond the expiration of the
stated term of such Stock Options. 
 (h) Voluntary Resignation. Unless otherwise determined by the Committee at the time of grant,
or if no rights of the Participant are reduced, thereafter, if a Participant’s Termination is voluntary (other than a voluntary termination described in Section 6.4(i)(y) hereof), all Stock Options that are held by such Participant that
are vested and exercisable at the time of the Participant’s Termination may be exercised by the Participant at any time within a period of thirty (30) days from the date of such Termination, but in no event beyond the expiration of the
stated term of such Stock Options. 
 (i) Termination for Cause. Unless otherwise determined by the Committee at the time of grant,
or if no rights of the Participant are reduced, thereafter, if a Participant’s Termination (x) is for Cause or (y) is a voluntary Termination (as provided in Section 6.4(h)) after the occurrence of an event that would be grounds
for a Termination for Cause, all Stock Options, whether vested or not vested, that are held by such Participant shall thereupon terminate and expire as of the date of such Termination. 

(j) Unvested Stock Options. Unless otherwise determined by the Committee at the time of grant, or if no rights of the Participant are
reduced, thereafter, Stock Options that are not vested as of the date of a Participant’s Termination for any reason shall terminate and expire as of the date of such Termination. 

(k) Incentive Stock Option Limitations. To the extent that the aggregate Fair Market Value (determined as of the time of grant) of the
Common Stock with respect to which Incentive Stock Options are exercisable for the first time by an Eligible Employee during any calendar year under the Plan and/or any other stock option plan of the Company, any Subsidiary or any Parent exceeds
$100,000, such Options shall be treated as Non-Qualified Stock Options. In addition, if an Eligible Employee does not remain employed by the Company, any Subsidiary or

  
 14 

 
any Parent at all times from the time an Incentive Stock Option is granted until three months prior to the date of exercise thereof (or such other period as required by applicable law), such
Stock Option shall be treated as a Non-Qualified Stock Option. Should any provision of the Plan not be necessary in order for the Stock Options to qualify as Incentive Stock Options, or should any additional provisions be required, the Committee may
amend the Plan accordingly, without the necessity of obtaining the approval of the stockholders of the Company. 
 (l) Form,
Modification, Extension and Renewal of Stock Options. Subject to the terms and conditions and within the limitations of the Plan, Stock Options shall be evidenced by such form of agreement or grant as is approved by the Committee, and the
Committee may (i) modify, extend or renew outstanding Stock Options granted under the Plan (provided that the rights of a Participant are not reduced without such Participant’s consent and provided further that such action does not subject
the Stock Options to Section 409A of the Code without the consent of the Participant), and (ii) accept the surrender of outstanding Stock Options (to the extent not theretofore exercised) and authorize the granting of new Stock Options in
substitution therefor (to the extent not theretofore exercised). Notwithstanding the foregoing, an outstanding Option may not be modified to reduce the exercise price thereof nor may a new Option at a lower price be substituted for a surrendered
Option (other than adjustments or substitutions in accordance with Section 4.2), unless such action is approved by the stockholders of the Company. 

(m) Deferred Delivery of Common Stock. The Committee may in its discretion permit Participants to defer delivery of Common Stock
acquired pursuant to a Participant’s exercise of an Option in accordance with the terms and conditions established by the Committee in the applicable Award Agreement, which shall be intended to comply with the requirements of Section 409A
of the Code. 
 (n) Early Exercise. The Committee may provide that a Stock Option include a provision whereby the Participant may
elect at any time before the Participant’s Termination to exercise the Stock Option as to any part or all of the shares of Common Stock subject to the Stock Option prior to the full vesting of the Stock Option and such shares shall be subject
to the provisions of Article VIII and be treated as Restricted Stock. Unvested shares of Common Stock so purchased may be subject to a repurchase option in favor of the Company or to any other restriction the Committee determines to be appropriate.

 (o) Other Terms and Conditions. The Committee may include a provision in an Award Agreement providing for the automatic exercise
of a Non-Qualified Stock Option on a cashless basis on the last day of the term of such Option if the Participant has failed to exercise the Non-Qualified Stock Option as of such date, with respect to which the Fair Market Value of the shares of
Common Stock underlying the Non-Qualified Stock Option exceeds the exercise price of such Non-Qualified Stock Option on the date of expiration of such Option, subject to Section 14.4. Stock Options may contain such other provisions, which shall
not be inconsistent with any of the terms of the Plan, as the Committee shall deem appropriate. 

  
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 ARTICLE VII 

STOCK APPRECIATION RIGHTS 

7.1 Tandem Stock Appreciation Rights. Stock Appreciation Rights may be granted in conjunction with all or part of any Stock
Option (a “Reference Stock Option”) granted under the Plan (“Tandem Stock Appreciation Rights”). In the case of a Non-Qualified Stock Option, such rights may be granted either at or after the time of the grant of
such Reference Stock Option. In the case of an Incentive Stock Option, such rights may be granted only at the time of the grant of such Reference Stock Option. 

7.2 Terms and Conditions of Tandem Stock Appreciation Rights. Tandem Stock Appreciation Rights granted hereunder shall be
subject to such terms and conditions, not inconsistent with the provisions of the Plan, as shall be determined from time to time by the Committee, and the following: 

(a) Exercise Price. The exercise price per share of Common Stock subject to a Tandem Stock Appreciation Right shall be determined by the
Committee at the time of grant, provided that the per share exercise price of a Tandem Stock Appreciation Right shall not be less than 100% of the Fair Market Value of the Common Stock at the time of grant. 

(b) Term. A Tandem Stock Appreciation Right or applicable portion thereof granted with respect to a Reference Stock Option shall
terminate and no longer be exercisable upon the termination or exercise of the Reference Stock Option, except that, unless otherwise determined by the Committee, in its sole discretion, at the time of grant, a Tandem Stock Appreciation Right granted
with respect to less than the full number of shares covered by the Reference Stock Option shall not be reduced until, and then only to the extent that the exercise or termination of the Reference Stock Option causes, the number of shares covered by
the Tandem Stock Appreciation Right to exceed the number of shares remaining available and unexercised under the Reference Stock Option. 

(c) Exercisability. Tandem Stock Appreciation Rights shall be exercisable only at such time or times and to the extent that the
Reference Stock Options to which they relate shall be exercisable in accordance with the provisions of Article VI, and shall be subject to the provisions of Section 6.4(c). 

(d) Method of Exercise. A Tandem Stock Appreciation Right may be exercised by the Participant by surrendering the applicable portion of
the Reference Stock Option. Upon such exercise and surrender, the Participant shall be entitled to receive an amount determined in the manner prescribed in this Section 7.2. Stock Options which have been so surrendered, in whole or in part,
shall no longer be exercisable to the extent that the related Tandem Stock Appreciation Rights have been exercised. 
 (e) Payment.
Upon the exercise of a Tandem Stock Appreciation Right, a Participant shall be entitled to receive up to, but no more than, an amount in cash and/or Common Stock (as chosen by the Committee in its sole discretion) equal in value to the excess of the
Fair Market Value of one share of Common Stock over the Option exercise price per share specified in the Reference Stock Option agreement multiplied by the number of shares of Common Stock in respect of which the Tandem Stock Appreciation Right
shall have been exercised, with the Committee having the right to determine the form of payment. 

  
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 (f) Deemed Exercise of Reference Stock Option. Upon the exercise of a Tandem Stock
Appreciation Right, the Reference Stock Option or part thereof to which such Stock Appreciation Right is related shall be deemed to have been exercised for the purpose of the limitation set forth in Article IV of the Plan on the number of shares of
Common Stock to be issued under the Plan. 
 (g) Non-Transferability. Tandem Stock Appreciation Rights shall be Transferable only
when and to the extent that the underlying Stock Option would be Transferable under Section 6.4(e) of the Plan. 
 7.3 Non-Tandem
Stock Appreciation Rights. Non-Tandem Stock Appreciation Rights may also be granted without reference to any Stock Options granted under the Plan. 

7.4 Terms and Conditions of Non-Tandem Stock Appreciation Rights. Non-Tandem Stock Appreciation Rights granted hereunder shall
be subject to such terms and conditions, not inconsistent with the provisions of the Plan, as shall be determined from time to time by the Committee, and the following: 

(a) Exercise Price. The exercise price per share of Common Stock subject to a Non-Tandem Stock Appreciation Right shall be determined by
the Committee at the time of grant, provided that the per share exercise price of a Non-Tandem Stock Appreciation Right shall not be less than 100% of the Fair Market Value of the Common Stock at the time of grant. 

(b) Term. The term of each Non-Tandem Stock Appreciation Right shall be fixed by the Committee, but shall not be greater than 10 years
after the date the right is granted. 
 (c) Exercisability. Unless otherwise provided by the Committee in accordance with the
provisions of this Section 7.4, Non-Tandem Stock Appreciation Rights granted under the Plan shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee at the time of grant. If the
Committee provides, in its discretion, that any such right is exercisable subject to certain limitations (including, without limitation, that it is exercisable only in installments or within certain time periods), the Committee may waive such
limitations on the exercisability at any time at or after grant in whole or in part (including, without limitation, waiver of the installment exercise provisions or acceleration of the time at which such right may be exercised), based on such
factors, if any, as the Committee shall determine, in its sole discretion. 
 (d) Method of Exercise. Subject to whatever installment
exercise and waiting period provisions apply under Section 7.4(c), Non-Tandem Stock Appreciation Rights may be exercised in whole or in part at any time in accordance with the applicable Award Agreement, by giving written notice of exercise to
the Company specifying the number of Non-Tandem Stock Appreciation Rights to be exercised. 
 (e) Payment. Upon the exercise of a
Non-Tandem Stock Appreciation Right a Participant shall be entitled to receive, for each right exercised, up to, but no more than, an 

  
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amount in cash and/or Common Stock (as chosen by the Committee in its sole discretion) equal in value to the excess of the Fair Market Value of one share of Common Stock on the date that the
right is exercised over the Fair Market Value of one share of Common Stock on the date that the right was awarded to the Participant. 
 (f)
Termination. Unless otherwise determined by the Committee at grant or, if no rights of the Participant are reduced, thereafter, subject to the provisions of the applicable Award Agreement and the Plan, upon a Participant’s Termination
for any reason, Non-Tandem Stock Appreciation Rights will remain exercisable following a Participant’s Termination on the same basis as Stock Options would be exercisable following a Participant’s Termination in accordance with the
provisions of Sections 6.4(f) through 6.4(j). 
 (g) Non-Transferability. No Non-Tandem Stock Appreciation Rights shall be
Transferable by the Participant other than by will or by the laws of descent and distribution, and all such rights shall be exercisable, during the Participant’s lifetime, only by the Participant. 

7.5 Limited Stock Appreciation Rights. The Committee may, in its sole discretion, grant Tandem and Non-Tandem Stock Appreciation
Rights either as a general Stock Appreciation Right or as a Limited Stock Appreciation Right. Limited Stock Appreciation Rights may be exercised only upon the occurrence of a Change in Control or such other event as the Committee may, in its sole
discretion, designate at the time of grant or thereafter. Upon the exercise of Limited Stock Appreciation Rights, except as otherwise provided in an Award Agreement, the Participant shall receive in cash and/or Common Stock, as determined by the
Committee, an amount equal to the amount (i) set forth in Section 7.2(e) with respect to Tandem Stock Appreciation Rights, or (ii) set forth in Section 7.4(e) with respect to Non-Tandem Stock Appreciation Rights. 

7.6 Other Terms and Conditions. The Committee may include a provision in an Award Agreement providing for the automatic exercise
of a Stock Appreciation Right on a cashless basis on the last day of the term of such Stock Appreciation Right if the Participant has failed to exercise the Stock Appreciation Right as of such date, with respect to which the Fair Market Value of the
shares of Common Stock underlying the Stock Appreciation Right exceeds the exercise price of such Stock Appreciation Right on the date of expiration of such Stock Appreciation Right, subject to Section 14.4. Stock Appreciation Rights may
contain such other provisions, which shall not be inconsistent with any of the terms of the Plan, as the Committee shall deem appropriate. 

ARTICLE VIII 
 RESTRICTED
STOCK 
 8.1 Awards of Restricted Stock. Shares of Restricted Stock may be issued either alone or in addition to other
Awards granted under the Plan. The Committee shall determine the Eligible Individuals, to whom, and the time or times at which, grants of Restricted Stock shall be made, the number of shares to be awarded, the price (if any) to be paid by the
Participant (subject to Section 8.2), the time or times within which such Awards may be subject to forfeiture, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of the Awards. 

  
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 The Committee may condition the grant or vesting of Restricted Stock upon the attainment of
specified performance targets (including, the Performance Goals) or such other factor as the Committee may determine in its sole discretion, including to comply with the requirements of Section 162(m) of the Code. 

8.2 Awards and Certificates. Eligible Individuals selected to receive Restricted Stock shall not have any right with respect to
such Award, unless and until such Participant has delivered a fully executed copy of the agreement evidencing the Award to the Company, to the extent required by the Committee, and has otherwise complied with the applicable terms and conditions of
such Award. Further, such Award shall be subject to the following conditions: 
 (a) Purchase Price. The purchase price of Restricted
Stock shall be fixed by the Committee. Subject to Section 4.3, the purchase price for shares of Restricted Stock may be zero to the extent permitted by applicable law, and, to the extent not so permitted, such purchase price may not be less
than par value. 
 (b) Acceptance. Awards of Restricted Stock must be accepted within a period of 60 days (or such shorter period as
the Committee may specify at grant) after the grant date, by executing a Restricted Stock agreement and by paying whatever price (if any) the Committee has designated thereunder. 

(c) Legend. Each Participant receiving Restricted Stock shall be issued a stock certificate in respect of such shares of Restricted
Stock, unless the Committee elects to use another system, such as book entries by the transfer agent, as evidencing ownership of shares of Restricted Stock. Such certificate shall be registered in the name of such Participant, and shall, in addition
to such legends required by applicable securities laws, bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award, substantially in the following form: 

“The anticipation, alienation, attachment, sale, transfer, assignment, pledge, encumbrance or charge of the shares of stock represented
hereby are subject to the terms and conditions (including forfeiture) of the Burlington Stores, Inc. (the “Company”) 2013 Omnibus Incentive Plan (the “Plan”) and an Agreement entered into between the registered owner and the
Company dated                     . Copies of such Plan and Agreement are on file at the principal office of the Company.” 

(d) Custody. If stock certificates are issued in respect of shares of Restricted Stock, the Committee may require that any stock
certificates evidencing such shares be held in custody by the Company until the restrictions thereon shall have lapsed, and that, as a condition of any grant of Restricted Stock, the Participant shall have delivered a duly signed stock power or
other instruments of assignment (including a power of attorney), each endorsed in blank with a guarantee of signature if deemed necessary or appropriate by the Company, which would permit transfer to the Company of all or a portion of the shares
subject to the Restricted Stock Award in the event that such Award is forfeited in whole or part. 

  
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 8.3 Restrictions and Conditions. The shares of Restricted Stock awarded pursuant to
the Plan shall be subject to the following restrictions and conditions: 
 (a) Restriction Period. (i) The Participant shall not
be permitted to Transfer shares of Restricted Stock awarded under the Plan during the period or periods set by the Committee (the “Restriction Period”) commencing on the date of such Award, as set forth in the Restricted Stock Award
Agreement and such agreement shall set forth a vesting schedule and any event that would accelerate vesting of the shares of Restricted Stock. Within these limits, based on service, attainment of Performance Goals pursuant to Section 8.3(a)(ii)
and/or such other factors or criteria as the Committee may determine in its sole discretion, the Committee may condition the grant or provide for the lapse of such restrictions in installments in whole or in part, or may accelerate the vesting of
all or any part of any Restricted Stock Award and/or waive the deferral limitations for all or any part of any Restricted Stock Award. 

(ii) If the grant of shares of Restricted Stock or the lapse of restrictions is based on the attainment of Performance Goals, the Committee
shall establish the objective Performance Goals and the applicable vesting percentage of the Restricted Stock applicable to each Participant or class of Participants in writing prior to the beginning of the applicable fiscal year or at such later
date as otherwise determined by the Committee and while the outcome of the Performance Goals are substantially uncertain. Such Performance Goals may incorporate provisions for disregarding (or adjusting for) changes in accounting methods, corporate
transactions (including, without limitation, dispositions and acquisitions) and other similar type events or circumstances. With regard to a Restricted Stock Award that is intended to comply with Section 162(m) of the Code, to the extent that
any such provision would create impermissible discretion under Section 162(m) of the Code or otherwise violate Section 162(m) of the Code, such provision shall be of no force or effect. 

(b) Rights as a Stockholder. Except as provided in Section 8.3(a) and this Section 8.3(b) or as otherwise determined by the
Committee in an Award Agreement, the Participant shall have, with respect to the shares of Restricted Stock, all of the rights of a holder of shares of Common Stock of the Company, including, without limitation, the right to receive dividends, the
right to vote such shares and, subject to and conditioned upon the full vesting of shares of Restricted Stock, the right to tender such shares. The Committee may, in its sole discretion, determine at the time of grant that the payment of dividends
shall be deferred until, and conditioned upon, the expiration of the applicable Restriction Period. 
 (c) Termination. Unless
otherwise determined by the Committee at grant or, if no rights of the Participant are reduced, thereafter, subject to the applicable provisions of the Award Agreement and the Plan, upon a Participant’s Termination for any reason during the
relevant Restriction Period, all Restricted Stock still subject to restriction will be forfeited in accordance with the terms and conditions established by the Committee at grant or thereafter. 

(d) Lapse of Restrictions. If and when the Restriction Period expires without a prior forfeiture of the Restricted Stock, the
certificates for such shares shall be delivered to the Participant. All legends shall be removed from said certificates at the time of delivery to the Participant, except as otherwise required by applicable law or other limitations imposed by the
Committee. 

  
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 ARTICLE IX 

PERFORMANCE AWARDS 
 9.1
Performance Awards. The Committee may grant a Performance Award to a Participant payable upon the attainment of specific Performance Goals. The Committee may grant Performance Awards that are intended to qualify as “performance-based
compensation” under Section 162(m) of the Code, as well as Performance Awards that are not intended to qualify as “performance-based compensation” under Section 162(m) of the Code. If the Performance Award is payable in
shares of Restricted Stock, such shares shall be transferable to the Participant only upon attainment of the relevant Performance Goal in accordance with Article VIII. If the Performance Award is payable in cash, it may be paid upon the attainment
of the relevant Performance Goals either in cash or in shares of Restricted Stock (based on the then current Fair Market Value of such shares), as determined by the Committee, in its sole and absolute discretion. Each Performance Award shall be
evidenced by an Award Agreement in such form that is not inconsistent with the Plan and that the Committee may from time to time approve. With respect to Performance Awards that are intended to qualify as “performance-based compensation”
under Section 162(m) of the Code, the Committee shall condition the right to payment of any Performance Award upon the attainment of objective Performance Goals established pursuant to Section 9.2(c). 

9.2 Terms and Conditions. Performance Awards awarded pursuant to this Article IX shall be subject to the following terms and
conditions: 
 (a) Earning of Performance Award. At the expiration of the applicable Performance Period, the Committee shall determine
the extent to which the Performance Goals established pursuant to Section 9.2(c) are achieved and the percentage of each Performance Award that has been earned. 

(b) Non-Transferability. Subject to the applicable provisions of the Award Agreement and the Plan, Performance Awards may not be
Transferred during the Performance Period. 
 (c) Objective Performance Goals, Formulae or Standards. With respect to Performance
Awards that are intended to qualify as “performance-based compensation” under Section 162(m) of the Code, the Committee shall establish the objective Performance Goals for the earning of Performance Awards based on a Performance
Period applicable to each Participant or class of Participants in writing prior to the beginning of the applicable Performance Period or at such later date as permitted under Section 162(m) of the Code and while the outcome of the Performance
Goals are substantially uncertain. Such Performance Goals may incorporate, if and only to the extent permitted under Section 162(m) of the Code, provisions for disregarding (or adjusting for) changes in accounting methods, corporate
transactions (including, without limitation, dispositions and acquisitions) and other similar type events or circumstances. To the extent that any such provision would create impermissible discretion under Section 162(m) of the Code or
otherwise violate Section 162(m) of the Code, such provision shall be of no force or effect, with respect to Performance Awards that are intended to qualify as “performance-based compensation” under Section 162(m) of the Code.

  
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 (d) Dividends. Unless otherwise determined by the Committee at the time of grant, amounts
equal to dividends declared during the Performance Period with respect to the number of shares of Common Stock covered by a Performance Award will not be paid to the Participant. 

(e) Payment. Following the Committee’s determination in accordance with Section 9.2(a), the Company shall settle Performance
Awards, in such form (including, without limitation, in shares of Common Stock or in cash) as determined by the Committee, in an amount equal to such Participant’s earned Performance Awards. Notwithstanding the foregoing, the Committee may, in
its sole discretion, award an amount less than the earned Performance Awards and/or subject the payment of all or part of any Performance Award to additional vesting, forfeiture and deferral conditions as it deems appropriate. 

(f) Termination. Subject to the applicable provisions of the Award Agreement and the Plan, upon a Participant’s Termination for
any reason during the Performance Period for a given Performance Award, the Performance Award in question will vest or be forfeited in accordance with the terms and conditions established by the Committee at grant. 

(g) Accelerated Vesting. Based on service, performance and/or such other factors or criteria, if any, as the Committee may determine,
the Committee may, at or after grant, accelerate the vesting of all or any part of any Performance Award. 
 ARTICLE X 

OTHER STOCK-BASED AND CASH-BASED AWARDS 

10.1 Other Stock-Based Awards. The Committee is authorized to grant to Eligible Individuals Other
Stock-Based Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to shares of Common Stock, including but not limited to, shares of Common Stock awarded
purely as a bonus and not subject to restrictions or conditions, shares of Common Stock in payment of the amounts due under an incentive or performance plan sponsored or maintained by the Company or an Affiliate, stock equivalent units, restricted
stock units, and Awards valued by reference to book value of shares of Common Stock. Other Stock-Based Awards may be granted either alone or in addition to or in tandem with other Awards granted under the Plan. 

Subject to the provisions of the Plan, the Committee shall have authority to determine the Eligible Individuals, to whom, and the time or
times at which, such Awards shall be made, the number of shares of Common Stock to be awarded pursuant to such Awards, and all other conditions of the Awards. The Committee may also provide for the grant of Common Stock under such Awards upon the
completion of a specified Performance Period. 
 The Committee may condition the grant or vesting of Other Stock-Based Awards upon the
attainment of specified Performance Goals as the Committee may determine, in its sole discretion; provided that to the extent that such Other Stock-Based Awards are intended to comply with Section 162(m) of the Code, the Committee shall
establish the objective Performance Goals for the grant or vesting of such Other Stock-Based Awards based on a Performance Period applicable to each Participant or class of Participants in writing prior to the beginning of the applicable

  
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Performance Period or at such later date as permitted under Section 162(m) of the Code and while the outcome of the Performance Goals are substantially uncertain. Such Performance Goals may
incorporate, if and only to the extent permitted under Section 162(m) of the Code, provisions for disregarding (or adjusting for) changes in accounting methods, corporate transactions (including, without limitation, dispositions and
acquisitions) and other similar type events or circumstances. To the extent that any such provision would create impermissible discretion under Section 162(m) of the Code or otherwise violate Section 162(m) of the Code, such provision
shall be of no force or effect, with respect to Performance Awards that are intended to qualify as “performance-based compensation” under Section 162(m) of the Code. 

10.2 Terms and Conditions. Other Stock-Based Awards made pursuant to this Article X shall be subject to the following terms and
conditions: 
 (a) Non-Transferability. Subject to the applicable provisions of the Award Agreement and the Plan, shares of Common
Stock subject to Awards made under this Article X may not be Transferred prior to the date on which the shares are issued, or, if later, the date on which any applicable restriction, performance or deferral period lapses. 

(b) Dividends. Unless otherwise determined by the Committee at the time of Award, subject to the provisions of the Award Agreement and
the Plan, the recipient of an Award under this Article X shall not be entitled to receive, currently or on a deferred basis, dividends or dividend equivalents in respect of the number of shares of Common Stock covered by the Award. 

(c) Vesting. Any Award under this Article X and any Common Stock covered by any such Award shall vest or be forfeited to the extent so
provided in the Award Agreement, as determined by the Committee, in its sole discretion. 
 (d) Price. Common Stock issued on a bonus
basis under this Article X may be issued for no cash consideration. Common Stock purchased pursuant to a purchase right awarded under this Article X shall be priced, as determined by the Committee in its sole discretion. 

10.3 Other Cash-Based Awards. The Committee may from time to time grant Other Cash-Based Awards to Eligible Individuals in such
amounts, on such terms and conditions, and for such consideration, including no consideration or such minimum consideration as may be required by applicable law, as it shall determine in its sole discretion. Other Cash-Based Awards may be granted
subject to the satisfaction of vesting conditions or may be awarded purely as a bonus and not subject to restrictions or conditions, and if subject to vesting conditions, the Committee may accelerate the vesting of such Awards at any time in its
sole discretion. The grant of an Other Cash-Based Award shall not require a segregation of any of the Company’s assets for satisfaction of the Company’s payment obligation thereunder. 

  
 23 

 ARTICLE XI 

CHANGE IN CONTROL PROVISIONS 

11.1 Benefits. In the event of a Change in Control of the Company (as defined below), and except as otherwise provided by the
Committee in an Award Agreement, a Participant’s unvested Award shall not vest automatically and a Participant’s Award shall be treated in accordance with one or more of the following methods as determined by the Committee: 

(a) Awards, whether or not then vested, shall be continued, assumed, or have new rights substituted therefor, as determined by the Committee in
a manner consistent with the requirements of Section 409A of the Code, and restrictions to which shares of Restricted Stock or any other Award granted prior to the Change in Control are subject shall not lapse upon a Change in Control and the
Restricted Stock or other Award shall, where appropriate in the sole discretion of the Committee, receive the same distribution as other Common Stock on such terms as determined by the Committee; provided that the Committee may decide to award
additional Restricted Stock or other Awards in lieu of any cash distribution. Notwithstanding anything to the contrary herein, for purposes of Incentive Stock Options, any assumed or substituted Stock Option shall comply with the requirements of
Treasury Regulation Section 1.424-1 (and any amendment thereto). 
 (b) The Committee, in its sole discretion, may provide for the
purchase of any Awards by the Company or an Affiliate for an amount of cash equal to the excess (if any) of the Change in Control Price (as defined below) of the shares of Common Stock covered by such Awards, over the aggregate exercise price of
such Awards; provided that in the event that such exercise price does not exceed such Change in Control Price, the Awards may be cancelled for no consideration. For purposes hereof, “Change in Control Price” shall mean the highest
price per share of Common Stock paid in any transaction related to a Change in Control of the Company. 
 (c) The Committee may, in its sole
discretion, terminate all outstanding and unexercised Stock Options, Stock Appreciation Rights, or any Other Stock-Based Award that provides for a Participant elected exercise, effective as of the date of the Change in Control, by delivering notice
of termination to each Participant at least twenty (20) days prior to the date of consummation of the Change in Control, in which case during the period from the date on which such notice of termination is delivered to the consummation of the
Change in Control, each such Participant shall have the right to exercise in full all of such Participant’s Awards that are then outstanding (without regard to any limitations on exercisability otherwise contained in the Award Agreements), but
any such exercise shall be contingent on the occurrence of the Change in Control, and, provided that, if the Change in Control does not take place within a specified period after giving such notice for any reason whatsoever, the notice and exercise
pursuant thereto shall be null and void. 
 (d) Notwithstanding any other provision herein to the contrary, the Committee may, in its sole
discretion, provide for accelerated vesting or lapse of restrictions, of an Award at any time. 
 11.2 Change in Control.
Unless otherwise determined by the Committee in the applicable Award Agreement or other written agreement with a Participant approved by the Committee, a “Change in Control” shall be deemed to occur if: 

(a) any “person,” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than the Company, any trustee or other
fiduciary holding securities under any employee benefit plan of the Company, Bain Capital Partners, LLC and funds or partnerships related to, or managed or advised by any of them or any Affiliate of them, or any company owned, directly or
indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of Common Stock of the Company), becoming the beneficial owner (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities; 

  
 24 

 (b) during any period of two consecutive years, individuals who at the beginning of such period
constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in paragraph (a), (c), or (d) of this Section 11.2 or a director
whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such term is used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies
or consents by or on behalf of a person other than the Board) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the
directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute at
least a majority of the Board; 
 (c) a merger or consolidation of the Company with any other corporation, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than
50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; provided, however, that a merger or consolidation effected to implement a recapitalization
of the Company (or similar transaction) in which no person (other than those covered by the exceptions in Section 11.2(a)) acquires more than 50% of the combined voting power of the Company’s then outstanding securities shall not
constitute a Change in Control of the Company; or 
 (d) a complete liquidation or dissolution of the Company or the consummation of a sale
or disposition by the Company of all or substantially all of the Company’s assets other than the sale or disposition of all or substantially all of the assets of the Company to a person or persons who beneficially own, directly or indirectly,
50% or more of the combined voting power of the outstanding voting securities of the Company at the time of the sale. 
 Notwithstanding the foregoing, with
respect to any Award that is characterized as “nonqualified deferred compensation” within the meaning of Section 409A of the Code, an event shall not be considered to be a Change in Control under the Plan for purposes of payment of
such Award unless such event is also a “change in ownership,” a “change in effective control” or a “change in the ownership of a substantial portion of the assets” of the Company within the meaning of Section 409A
of the Code. 
 11.3 Initial Public Offering not a Change in Control. Notwithstanding the foregoing, for purposes of the Plan,
the occurrence of the Registration Date or any change in the composition of the Board within one year following the Registration Date shall not be considered a Change in Control. 

  
 25 

 ARTICLE XII 

TERMINATION OR AMENDMENT OF PLAN 

12.1 Termination or Amendment. Notwithstanding any other provision of the Plan, the Board may at any time, and from time to
time, amend, in whole or in part, any or all of the provisions of the Plan (including any amendment deemed necessary to ensure that the Company may comply with any regulatory requirement referred to in Article XIV or Section 409A of the Code),
or suspend or terminate it entirely, retroactively or otherwise; provided, however, that, unless otherwise required by law or specifically provided herein, the rights of a Participant with respect to Awards granted prior to such amendment,
suspension or termination, may not be impaired without the consent of such Participant and, provided further, that without the approval of the holders of the Company’s Common Stock entitled to vote in accordance with applicable law, no
amendment may be made that would (i) increase the aggregate number of shares of Common Stock that may be issued under the Plan (except by operation of Section 4.2); (ii) increase the maximum individual Participant limitations for a
fiscal year under Section 4.1(b) (except by operation of Section 4.2); (iii) change the classification of individuals eligible to receive Awards under the Plan; (iv) decrease the minimum option price of any Stock Option or Stock
Appreciation Right; (v) extend the maximum option period under Section 6.4; (vi) alter the Performance Goals for Restricted Stock, Performance Awards or Other Stock-Based Awards as set forth in Exhibit A hereto;
(vii) award any Stock Option or Stock Appreciation Right in replacement of a canceled Stock Option or Stock Appreciation Right with a higher exercise price than the replacement award; or (viii) require stockholder approval in order for the
Plan to continue to comply with the applicable provisions of Section 162(m) of the Code or, to the extent applicable to Incentive Stock Options, Section 422 of the Code. In no event may the Plan be amended without the approval of the
stockholders of the Company in accordance with the applicable laws of the State of Delaware to increase the aggregate number of shares of Common Stock that may be issued under the Plan, decrease the minimum exercise price of any Award, or to make
any other amendment that would require stockholder approval under Financial Industry Regulatory Authority (FINRA) rules and regulations or the rules of any exchange or system on which the Company’s securities are listed or traded at the request
of the Company. Notwithstanding anything herein to the contrary, the Board may amend the Plan or any Award Agreement at any time without a Participant’s consent to comply with applicable law including Section 409A of the Code. The
Committee may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to Article IV or as otherwise specifically provided herein, no such amendment or other action by the Committee shall impair the rights of
any holder without the holder’s consent. 
 ARTICLE XIII 

UNFUNDED STATUS OF PLAN 

The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With respect to any payment as to
which a Participant has a fixed and vested interest but which are not yet made to a Participant by the Company, nothing contained herein shall give any such Participant any right that is greater than those of a general unsecured creditor of the
Company. 

  
 26 

 ARTICLE XIV 

GENERAL PROVISIONS 

14.1 Legend. The Committee may require each person receiving shares of Common Stock pursuant to a Stock Option or other Award
under the Plan to represent to and agree with the Company in writing that the Participant is acquiring the shares without a view to distribution thereof. In addition to any legend required by the Plan, the certificates for such shares may include
any legend that the Committee deems appropriate to reflect any restrictions on Transfer. All certificates for shares of Common Stock delivered under the Plan shall be subject to such stop transfer orders and other restrictions as the Committee may
deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Common Stock is then listed or any national securities exchange system upon whose system the Common Stock
is then quoted, any applicable federal or state securities law, and any applicable corporate law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

14.2 Other Plans. Nothing contained in the Plan shall prevent the Board from adopting other or additional compensation
arrangements, subject to stockholder approval if such approval is required, and such arrangements may be either generally applicable or applicable only in specific cases. 

14.3 No Right to Employment/Directorship/Consultancy. Neither the Plan nor the grant of any Option or other Award hereunder
shall give any Participant or other employee, Consultant or Non-Employee Director any right with respect to continuance of employment, consultancy or directorship by the Company or any Affiliate, nor shall there be a limitation in any way on the
right of the Company or any Affiliate by which an employee is employed or a Consultant or Non-Employee Director is retained to terminate such employment, consultancy or directorship at any time. 

14.4 Withholding of Taxes. The Company shall have the right to deduct from any payment to be made pursuant to the Plan, or to
otherwise require, prior to the issuance or delivery of shares of Common Stock or the payment of any cash hereunder, payment by the Participant of, any federal, state or local taxes required by law to be withheld. Upon the vesting of Restricted
Stock (or other Award that is taxable upon vesting), or upon making an election under Section 83(b) of the Code, a Participant shall pay all required withholding to the Company. Any minimum statutorily required withholding obligation with
regard to any Participant may be satisfied, subject to the consent of the Committee, by reducing the number of shares of Common Stock otherwise deliverable or by delivering shares of Common Stock already owned. Any fraction of a share of Common
Stock required to satisfy such tax obligations shall be disregarded and the amount due shall be paid instead in cash by the Participant. 

14.5 No Assignment of Benefits. No Award or other benefit payable under the Plan shall, except as otherwise specifically
provided by law or permitted by the Committee, be Transferable in any manner, and any attempt to Transfer any such benefit shall be void, and any such benefit shall not in any manner be liable for or subject to the debts, contracts, liabilities,
engagements or torts of any person who shall be entitled to such benefit, nor shall it be subject to attachment or legal process for or against such person. 

  
 27 

 14.6 Listing and Other Conditions. 

(a) Unless otherwise determined by the Committee, as long as the Common Stock is listed on a national securities exchange or system sponsored
by a national securities association, the issuance of shares of Common Stock pursuant to an Award shall be conditioned upon such shares being listed on such exchange or system. The Company shall have no obligation to issue such shares unless and
until such shares are so listed, and the right to exercise any Option or other Award with respect to such shares shall be suspended until such listing has been effected. 

(b) If at any time counsel to the Company shall be of the opinion that any sale or delivery of shares of Common Stock pursuant to an Option or
other Award is or may in the circumstances be unlawful or result in the imposition of excise taxes on the Company under the statutes, rules or regulations of any applicable jurisdiction, the Company shall have no obligation to make such sale or
delivery, or to make any application or to effect or to maintain any qualification or registration under the Securities Act or otherwise, with respect to shares of Common Stock or Awards, and the right to exercise any Option or other Award shall be
suspended until, in the opinion of said counsel, such sale or delivery shall be lawful or will not result in the imposition of excise taxes on the Company. 

(c) Upon termination of any period of suspension under this Section 14.6, any Award affected by such suspension which shall not then have
expired or terminated shall be reinstated as to all shares available before such suspension and as to shares which would otherwise have become available during the period of such suspension, but no such suspension shall extend the term of any Award.

 (d) A Participant shall be required to supply the Company with certificates, representations and information that the Company requests
and otherwise cooperate with the Company in obtaining any listing, registration, qualification, exemption, consent or approval the Company deems necessary or appropriate. 

14.7 Stockholders Agreement and Other Requirements. Notwithstanding anything herein to the contrary, as a condition to the
receipt of shares of Common Stock pursuant to an Award under the Plan, to the extent required by the Committee, the Participant shall execute and deliver a stockholder’s agreement or such other documentation that shall set forth certain
restrictions on transferability of the shares of Common Stock acquired upon exercise or purchase, and such other terms as the Board or Committee shall from time to time establish. Such stockholder’s agreement or other documentation shall apply
to the Common Stock acquired under the Plan and covered by such stockholder’s agreement or other documentation. The Company may require, as a condition of exercise, the Participant to become a party to any other existing stockholder agreement
(or other agreement). 
 14.8 Governing Law. The Plan and actions taken in connection herewith shall be governed and construed
in accordance with the laws of the State of Delaware (regardless of the law that might otherwise govern under applicable Delaware principles of conflict of laws). 

14.9 Jurisdiction; Waiver of Jury Trial. Any suit, action or proceeding with respect to the Plan or any Award Agreement, or any
judgment entered by any court of competent 

  
 28 

 
jurisdiction in respect of any thereof, shall be resolved only in the courts of the State of Delaware or the United States District Court for the District of Delaware and the appellate courts
having jurisdiction of appeals in such courts. In that context, and without limiting the generality of the foregoing, the Company and each Participant shall irrevocably and unconditionally (a) submit in any proceeding relating to the Plan or
any Award Agreement, or for the recognition and enforcement of any judgment in respect thereof (a “Proceeding”), to the exclusive jurisdiction of the courts of the State of Delaware, the court of the United States of America for the
District of Delaware, and appellate courts having jurisdiction of appeals from any of the foregoing, and agree that all claims in respect of any such Proceeding shall be heard and determined in such Delaware State court or, to the extent permitted
by law, in such federal court, (b) consent that any such Proceeding may and shall be brought in such courts and waives any objection that the Company and each Participant may now or thereafter have to the venue or jurisdiction of any such
Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agree not to plead or claim the same, (c) waive all right to trial by jury in any Proceeding (whether based on contract, tort or otherwise) arising
out of or relating to the Plan or any Award Agreement, (d) agree that service of process in any such Proceeding may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar form of mail),
postage prepaid, to such party, in the case of a Participant, at the Participant’s address shown in the books and records of the Company or, in the case of the Company, at the Company’s principal offices, attention General Counsel, and
(e) agree that nothing in the Plan shall affect the right to effect service of process in any other manner permitted by the laws of the State of Delaware. 

14.10 Construction. Wherever any words are used in the Plan in the masculine gender they shall be construed as though they were
also used in the feminine gender in all cases where they would so apply, and wherever words are used herein in the singular form they shall be construed as though they were also used in the plural form in all cases where they would so apply. 

14.11 Other Benefits. No Award granted or paid out under the Plan shall be deemed compensation for purposes of computing
benefits under any retirement plan of the Company or its Affiliates nor affect any benefit under any other benefit plan now or subsequently in effect under which the availability or amount of benefits is related to the level of compensation. 

14.12 Costs. The Company shall bear all expenses associated with administering the Plan, including expenses of issuing Common
Stock pursuant to Awards hereunder. 
 14.13 No Right to Same Benefits. The provisions of Awards need not be the same with
respect to each Participant, and such Awards to individual Participants need not be the same in subsequent years. 
 14.14
Death/Disability. The Committee may in its discretion require the transferee of a Participant to supply it with written notice of the Participant’s death or Disability and to supply it with a copy of the will (in the case of the
Participant’s death) or such other evidence as the Committee deems necessary to establish the validity of the transfer of an Award. The Committee may also require that the agreement of the transferee to be bound by all of the terms and
conditions of the Plan. 

  
 29 

 14.15 Section 16(b) of the Exchange Act. All elections and transactions under
the Plan by persons subject to Section 16 of the Exchange Act involving shares of Common Stock are intended to comply with any applicable exemptive condition under Rule 16b-3. The Committee may establish and adopt written administrative
guidelines, designed to facilitate compliance with Section 16(b) of the Exchange Act, as it may deem necessary or proper for the administration and operation of the Plan and the transaction of business thereunder. 

14.16 Section 409A of the Code. The Plan is intended to comply with the applicable requirements of Section 409A of the
Code and shall be limited, construed and interpreted in accordance with such intent. To the extent that any Award is subject to Section 409A of the Code, it shall be paid in a manner that will comply with Section 409A of the Code,
including proposed, temporary or final regulations or any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect thereto. Notwithstanding anything herein to the contrary, any provision in the Plan that
is inconsistent with Section 409A of the Code shall be deemed to be amended to comply with Section 409A of the Code and to the extent such provision cannot be amended to comply therewith, such provision shall be null and void. The Company
shall have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or compliant with, Section 409A of the Code is not so exempt or compliant or for any action taken by the Committee or the Company and,
in the event that any amount or benefit under the Plan becomes subject to penalties under Section 409A of the Code, responsibility for payment of such penalties shall rest solely with the affected Participants and not with the Company.
Notwithstanding any contrary provision in the Plan or Award Agreement, any payment(s) of “nonqualified deferred compensation” (within the meaning of Section 409A of the Code) that are otherwise required to be made under the Plan to a
“specified employee” (as defined under Section 409A of the Code) as a result of such employee’s separation from service (other than a payment that is not subject to Section 409A of the Code) shall be delayed for the first
six (6) months following such separation from service (or, if earlier, the date of death of the specified employee) and shall instead be paid (in a manner set forth in the Award Agreement) upon expiration of such delay period. 

14.17 Successor and Assigns. The Plan shall be binding on all successors and permitted assigns of a Participant, including,
without limitation, the estate of such Participant and the executor, administrator or trustee of such estate. 
 14.18 Severability of
Provisions. If any provision of the Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not
been included. 
 14.19 Payments to Minors, Etc. Any benefit payable to or for the benefit of a minor, an incompetent person
or other person incapable of receipt thereof shall be deemed paid when paid to such person’s guardian or to the party providing or reasonably appearing to provide for the care of such person, and such payment shall fully discharge the
Committee, the Board, the Company, its Affiliates and their employees, agents and representatives with respect thereto. 
 14.20
Lock-Up Agreement. As a condition to the grant of an Award, if requested by the Company and the lead underwriter of any public offering of the Common Stock (the “Lead Underwriter”), a Participant shall irrevocably
agree not to sell, contract to sell, grant any option to 

  
 30 

 
purchase, transfer the economic risk of ownership in, make any short sale of, pledge or otherwise transfer or dispose of, any interest in any Common Stock or any securities convertible into,
derivative of, or exchangeable or exercisable for, or any other rights to purchase or acquire Common Stock (except Common Stock included in such public offering or acquired on the public market after such offering) during such period of time
following the effective date of a registration statement of the Company filed under the Securities Act that the Lead Underwriter shall specify (the “Lock-Up Period”). The Participant shall
further agree to sign such documents as may be requested by the Lead Underwriter to effect the foregoing and agree that the Company may impose stop-transfer instructions with respect to Common Stock acquired pursuant to an Award until the end of
such Lock-Up Period. 
 14.21 Headings and Captions. The headings and captions herein
are provided for reference and convenience only, shall not be considered part of the Plan, and shall not be employed in the construction of the Plan. 

14.22 Section 162(m) of the Code. Notwithstanding any other provision of the Plan to the contrary, (i) prior to the
Registration Date and during the Transition Period, the provisions of the Plan requiring compliance with Section 162(m) of the Code for Awards intended to qualify as “performance-based compensation” shall only apply to the extent
required by Section 162(m) of the Code, and (ii) the provisions of the Plan requiring compliance with Section 162(m) of the Code shall not apply to Awards granted under the Plan that are not intended to qualify as
“performance-based compensation” under Section 162(m) of the Code. 
 14.23 Post-Transition Period. Following
the Transition Period, any Award granted under the Plan that is intended to be “performance-based compensation” under Section 162(m) of the Code, shall be subject to the approval of the material terms of the Plan by a majority of the
stockholders of the Company in accordance with Section 162(m) of the Code and the treasury regulations promulgated thereunder. 

14.24 Company Recoupment of Awards. A Participant’s rights with respect to any Award hereunder shall in all events be
subject to (i) any right that the Company may have under any Company recoupment policy or other agreement or arrangement with a Participant, or (ii) any right or obligation that the Company may have regarding the clawback of
“incentive-based compensation” under Section 10D of the Exchange Act and any applicable rules and regulations promulgated thereunder from time to time by the U.S. Securities and Exchange Commission. 

ARTICLE XV 
 EFFECTIVE
DATE OF PLAN 
 The Plan shall become effective on [—], 2013, which is the date of its
adoption by the Board, subject to the approval of the Plan by the stockholders of the Company in accordance with the requirements of the laws of the State of Delaware. 

ARTICLE XVI 
 TERM OF
PLAN 
 No Award shall be granted pursuant to the Plan on or after the tenth anniversary of the earlier of the date that the Plan is
adopted or the date of stockholder approval, but Awards granted 

  
 31 

 
prior to such tenth anniversary may extend beyond that date; provided that no Award (other than a Stock Option or Stock Appreciation Right) that is intended to be “performance-based
compensation” under Section 162(m) of the Code shall be granted on or after the fifth anniversary of the stockholder approval of the Plan unless the Performance Goals are re-approved (or other designated Performance Goals are approved) by
the stockholders no later than the first stockholder meeting that occurs in the fifth year following the year in which stockholders approve the Performance Goals. 

ARTICLE XVII 
 NAME OF
PLAN 
 The Plan shall be known as the “Burlington Stores, Inc. 2013 Omnibus Incentive Plan.” 

  
 32 

 EXHIBIT A 

PERFORMANCE GOALS 

To the extent permitted under Section 162(m) of the Code, performance goals established for purposes of Awards intended to be
“performance-based compensation” under Section 162(m) of the Code, shall be based on the attainment of certain target levels of, or a specified increase or decrease (as applicable) in one or more of the following performance goals:

  

	 	•	 	earnings per share; 

  

	 	•	 	operating income; 

  

	 	•	 	gross income; 

  

	 	•	 	net income (before or after taxes); 

  

	 	•	 	cash flow; 

  

	 	•	 	gross profit; 

  

	 	•	 	gross profit return on investment; 

  

	 	•	 	gross margin return on investment; 

  

	 	•	 	gross margin; 

  

	 	•	 	operating margin; 

  

	 	•	 	working capital; 

  

	 	•	 	earnings before interest and taxes; 

  

	 	•	 	earnings before interest, tax, depreciation and amortization; 

  

	 	•	 	return on equity; 

  

	 	•	 	return on assets; 

  

	 	•	 	return on capital; 

  

	 	•	 	return on invested capital; 

  

	 	•	 	net revenues; 

  

	 	•	 	gross revenues; 

  

	 	•	 	revenue growth; 

  

	 	•	 	annual recurring revenues; 

  

	 	•	 	recurring revenues; 

  

	 	•	 	license revenues; 

  

	 	•	 	sales or market share; 

  

	 	•	 	total shareholder return; 

  

	 	•	 	economic value added; 

  

	 	•	 	specified objectives with regard to limiting the level of increase in all or a portion of the Company’s bank debt or other long-term or short-term public or private debt or other similar financial obligations of
the Company, which may be calculated net of cash balances and/or other offsets and adjustments as may be established by the Committee in its sole discretion; 

  

	 	•	 	the fair market value of a share of Common Stock; 

  

	 	•	 	the growth in the value of an investment in the Common Stock assuming the reinvestment of dividends; or 

  

	 	•	 	reduction in operating expenses. 

  
 A-1 

 With respect to Awards that are intended to qualify as “performance-based compensation”
under Section 162(m) of the Code, to the extent permitted under Section 162(m) of the Code, the Committee may, in its sole discretion, also exclude, or adjust to reflect, the impact of an event or occurrence that the Committee determines
should be appropriately excluded or adjusted, including: 
 (a) restructurings, discontinued operations, extraordinary items or events, and
other unusual or non-recurring charges as described in Accounting Standards Codification 225-20, “Extraordinary and Unusual Items,” and/or management’s discussion and analysis of financial condition and results of operations appearing
or incorporated by reference in the Company’s Form 10-K for the applicable year; 
 (b) an event either not directly related to the
operations of the Company or not within the reasonable control of the Company’s management; or 
 (c) a change in tax law or accounting
standards required by generally accepted accounting principles. 
 Performance goals may also be based upon individual participant
performance goals, as determined by the Committee, in its sole discretion. In addition, Awards that are not intended to qualify as “performance-based compensation” under Section 162(m) of the Code may be based on the performance goals
set forth herein or on such other performance goals as determined by the Committee in its sole discretion. 
 In addition, such performance
goals may be based upon the attainment of specified levels of Company (or subsidiary, division, other operational unit, administrative department or product category of the Company) performance under one or more of the measures described above
relative to the performance of other corporations. With respect to Awards that are intended to qualify as “performance-based compensation” under Section 162(m) of the Code, to the extent permitted under Section 162(m) of the
Code, but only to the extent permitted under Section 162(m) of the Code (including, without limitation, compliance with any requirements for stockholder approval), the Committee may also: 

(a) designate additional business criteria on which the performance goals may be based; or 

(b) adjust, modify or amend the aforementioned business criteria. 

  
 A-2

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