Document:

EX-4.1

 Exhibit 4.1 
  

 
 DISCOVER CARD EXECUTION NOTE TRUST

 Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION 

Indenture Trustee 
 CLASS
A(2014-1) TERMS DOCUMENT 
 Dated as of January 27, 2014 

to 
 AMENDED AND RESTATED
INDENTURE SUPPLEMENT 
 Dated as of June 4, 2010 

for the DiscoverSeries Notes 
 to

 INDENTURE 
 Dated as of
July 26, 2007 
  
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I
	   

	
	 Definitions and Other Provisions of General Application
	   

	 Section 1.01
	 	Definitions	  	 	1	  
	 Section 1.02
	 	Representations and Warranties of Issuer	  	 	7	  
	 Section 1.03
	 	Representations and Warranties of Indenture Trustee	  	 	8	  
	 Section 1.04
	 	Limitations on Liability	  	 	8	  
	 Section 1.05
	 	Governing Law	  	 	8	  
	 Section 1.06
	 	Counterparts	  	 	8	  
	 Section 1.07
	 	Ratification of Indenture and Indenture Supplement	  	 	8	  
	
	ARTICLE II	  
	
	The Class A(2014-1) Notes	  
			
	 Section 2.01
	 	Creation and Designation	  	 	9	  
	 Section 2.02
	 	Adjustments to Required Subordinated Percentages and Amount	  	 	9	  
	 Section 2.03
	 	Interest Payment	  	 	9	  
	 Section 2.04
	 	Notification of LIBOR	  	 	10	  
	 Section 2.05
	 	Payments of Interest and Principal	  	 	10	  
	 Section 2.06
	 	Form of Delivery of Class A(2014-1) Notes; Depository; Denominations	  	 	10	  
	 Section 2.07
	 	Delivery and Payment for the Class A(2014-1) Notes	  	 	10	  
	 Section 2.08
	 	Targeted Deposits to the Accumulation Reserve Account	  	 	11	  
	 Section 2.09
	 	Additional Issuances of Notes	  	 	11	  
	 Section 2.10
	 	Designation of Additional Amounts to be included in the Excess Spread Amount for the DiscoverSeries Notes	  	 	12	  
	 Section 2.11
	 	Variable Accumulation Period	  	 	12	  
	 Section 2.12
	 	Permitted Investments	  	 	13	  
	
	 Exhibit
	   

			
		 	 Exhibit
A                    Form of Class A
Note                                         
       
	  			

 THIS CLASS A(2014-1) TERMS DOCUMENT (this “Terms Document”), by and between
DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the
United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of January 27, 2014. 

Pursuant to this Terms Document, the Issuer shall create a new Tranche of Class A Notes of the DiscoverSeries and shall specify the
principal terms thereof. 
 ARTICLE I 

Definitions and Other Provisions of General Application 

Section 1.01 Definitions. For all purposes of this Terms Document, except as otherwise expressly provided or unless the context
otherwise requires: 
 (1) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as
well as the singular; 
 (2) all other terms used herein which are defined in the Indenture Supplement or the Indenture, either directly or
by reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the meanings
assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted
hereunder means such accounting principles as are generally accepted in the United States of America at the date of such computation; 
 (4)
all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of this Terms Document; the words “herein,”
“hereof” and “hereunder” and other words of similar import refer to this Terms Document as a whole and not to any particular Article, Section or other subdivision; 

(5) in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the
Indenture Supplement or the Indenture, the terms and provisions of this Terms Document shall be controlling, but solely with respect to the Class A(2014-1) Notes; 

(6) each capitalized term defined herein shall relate only to the Class A(2014-1) Notes and no other Tranche of Notes issued by the Issuer;

 (7) “including” and words of similar import will be deemed to be followed by “without limitation”; and 

(8) for purposes of determining any amount or making any calculation hereunder, such amount or calculation, (x) if specified to be as of
the first day of any Due Period, shall (a)

 
include any Notes issued during such Due Period as if such Notes had been outstanding on the first day of such Due Period and (b) give effect to any payments, deposits or other allocations
made on the Distribution Date related to the prior Due Period, and (y) if specified to be as of the close of business on the last day of any Due Period shall give effect to any payments, deposits or other allocations made on the related
Distribution Date. 
 “Accumulation Amount” means $66,666,666.67; provided, however, if the
commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture Supplement. 

“Accumulation Commencement Date” means January 1, 2018, or such later date as the Calculation Agent on behalf of the
Issuer determines in accordance with Section 2.11 hereof. 
 “Accumulation Period” has the meaning set forth in the
Indenture Supplement. 
 “Accumulation Period Length” means 12 months; provided, however, if the commencement
of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Period Length shall be determined in accordance with the definition of “Accumulation Period Length” in the Indenture Supplement. 

“Accumulation Reserve Funding Period” shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture
Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on
the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of: 

(x) the Expected Maturity Date for the Class A(2014-1) Notes and 

(y) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2014-1) Notes is paid in full. 

 

			
	 Distribution Date:
	  	 Condition:

		
	(a) The Distribution Date occurring three (3) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with Section 2.11 hereof) and any following Distribution
Date	  	No condition.
		
	(b) The Distribution Date occurring four (4) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with Section 2.11 hereof) and any following Distribution
Date	  	The three-month rolling average Excess Spread Percentage is less than 4%.

  
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	(c) The Distribution Date occurring six (6) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with Section 2.11 hereof) and any following Distribution Date	  	The three-month rolling average Excess Spread Percentage is less than 3%.
		
	(d) The Distribution Date occurring twelve (12) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with Section 2.11 hereof) and any following Distribution
Date	  	The three-month rolling average Excess Spread Percentage is less than 2%.

 provided, however, if at any point the Accumulation Reserve Funding Period has not commenced because no condition
requiring funding has occurred or the Calculation Agent has determined that the Accumulation Period Length will be shortened to one (1) month, and subsequently a condition requiring funding occurs and the Calculation Agent determines that the
Accumulation Period Length will not be so shortened, the Accumulation Reserve Funding Period shall commence on the following Distribution Date. 

“Class A(2014-1) Adverse Event” means the occurrence of any of the following: (a) an Early Redemption Event with respect
to the Class A(2014-1) Notes or (b) an Event of Default and acceleration of the Class A(2014-1) Notes; provided, however, that if the only such event to have occurred is an Excess Spread Early Redemption Event for which an Excess
Spread Early Redemption Cure has occurred, a Class A(2014-1) Adverse Event shall not be treated as continuing from and after the date of such cure. 

“Class A(2014-1) Note” means any Note, in the form set forth in Exhibit A hereto, designated therein as a Class A(2014-1)
Note and duly executed and authenticated in accordance with the Indenture. 
 “Class A(2014-1) Noteholder” means a Person
in whose name a Class A(2014-1) Note is registered in the Note Register. 
 “Class A(2014-1) Termination Date” means the
earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2014-1) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and
satisfied pursuant to Article VI thereof. 
 “Excess Spread Percentage” for any Distribution Date means a fraction, the
numerator of which is the Excess Spread Amount for such Distribution Date multiplied by 12 and the denominator of which is the sum of the Nominal Liquidation Amounts of all Tranches of DiscoverSeries Notes as of the first day of the related
Due Period. 
 “Expected Maturity Date” means January 15, 2019. 

  
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 “Indenture” means the Indenture dated as of July 26, 2007 between the
Issuer and Indenture Trustee, as amended by the First Amendment to Indenture, dated as of June 4, 2010, as such agreement may be further amended, supplemented, restated, amended and restated, replaced or otherwise modified from time to time.

 “Indenture Supplement” means the Amended and Restated Indenture Supplement dated as of June 4, 2010, for the
DiscoverSeries Notes, by and between the Issuer and the Indenture Trustee, as the same may be further amended, supplemented, restated, amended and restated, replaced or otherwise modified from time to time. 

“Initial Dollar Principal Amount” means $800,000,000, or such higher amount as is specified in any Notice of Additional
Issuance under Section 2.09 hereof. 
 “Interest Accrual Period” means, with respect to any Interest Payment Date, the
period from and including the previous Interest Payment Date (or, in the case of the first Interest Payment Date for any Class A(2014-1) Note, from and including the applicable Issuance Date) to but excluding such Interest Payment Date. 

“Interest Payment Date” means the fifteenth day of each month commencing in February 2014, or if such fifteenth day is not a
Business Day, the next succeeding Business Day. 
 “Issuance Date” means January 27, 2014 with respect to all Class
A(2014-1) Notes issued on the date hereof and, with respect to any additional Class A(2014-1) Notes issued pursuant to Section 2.09 hereof, any Issuance Date specified in the Notice of Additional Issuance delivered thereunder. 

“Legal Maturity Date” means July 15, 2021. 

“LIBOR” means, with respect to any LIBOR Determination Date, the rate for deposits in United States dollars with a duration
comparable to the relevant Interest Accrual Period which appears on Reuters Screen LIBOR01 as of 11:00 a.m., London time, on such day. If such rate does not appear on Reuters Screen LIBOR01, the rate will be determined by the Indenture Trustee on
the basis of the rates at which deposits in United States dollars are offered by major banks in the London interbank market, selected by the Indenture Trustee, at approximately 11:00 a.m., London time, on such day to prime banks in the London
interbank market with a duration comparable to the relevant Interest Accrual Period commencing on that day. The Indenture Trustee will request the principal London office of at least four banks to provide a quotation of its rate. If at least two
such quotations are provided, the rate will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that day will be the arithmetic mean of the rates quoted by four major banks in New York City,
selected by the Trustee, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks with a duration comparable to the relevant Interest Accrual Period commencing on that day. If LIBOR
with respect to a LIBOR Determination Date is not determined pursuant to the foregoing, LIBOR with respect to such LIBOR Determination Date will be LIBOR with respect to the immediately prior LIBOR Determination Date. 

  
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 “LIBOR Business Day,” if applicable, shall mean a day other than a Saturday or a
Sunday on which banking institutions in both the City of London, England and in New York, New York are not required or authorized by law to be closed. 

“LIBOR Determination Date” means the second LIBOR Business Day immediately preceding the commencement of an Interest Accrual
Period. 
 “Note Interest Rate” means LIBOR + 0.43% per annum, calculated on the basis of the actual number of days
elapsed and a 360-day year. 
 “Notice of Additional Issuance” has the meaning set forth in Section 2.09 hereof. 

“Required Daily Deposit Target Finance Charge Amount” means, for any day in a Due Period, an amount equal to the Class A
Tranche Interest Allocation for the related Distribution Date; provided, however, that for purposes of determining the Required Daily Deposit Target Finance Charge Amount on any day on which the Class A Tranche Interest Allocation cannot
be determined because the LIBOR Determination Date for the applicable Interest Accrual Period has not yet occurred, the Required Daily Deposit Target Finance Charge Amount shall be the Class A Tranche Interest Allocation determined based on a
pro forma calculation made on the assumption that LIBOR will be LIBOR for the applicable period determined on the first day of such calendar month, multiplied by 1.25. 

“Required Daily Deposit Target Principal Amount” means, for any day in a Due Period, (i) if such Due Period is in the
Accumulation Period for the Class A(2014-1) Notes, the Accumulation Amount, (ii) if such day is on or after the occurrence and during the continuance of a Class A(2014-1) Adverse Event, the Nominal Liquidation Amount of the Class A(2014-1)
Notes, and (iii) in all other circumstances, zero. 
 “Required Subordinated Amount of Class B Notes” means, for the
Class A(2014-1) Notes for any date of determination, an amount equal to the product of 
 (a) the Required Subordinated Percentage of Class B
Notes for such Class A(2014-1) Notes on such date of determination and 
 (b) the Nominal Liquidation Amount of such Class A(2014-1) Notes on
such date of determination; 
 provided, however, that for any date of determination on or after the occurrence and during the continuation of a
Class A(2014-1) Adverse Event, the Required Subordinated Amount of Class B Notes for the Class A(2014-1) Notes will be the greater of 

(x) the amount determined above for such date of determination and 

(y) the amount determined above for the date immediately prior to the date on which such Class A(2014-1) Adverse Event shall have occurred.

 “Required Subordinated Amount of Class C Notes” means, for the Class A(2014-1) Notes for any date of determination, an
amount equal to the product of 

  
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 (a) the Required Subordinated Percentage of Class C Notes for such Class A(2014-1) Notes on such
date of determination and 
 (b) the Nominal Liquidation Amount of such Class A(2014-1) Notes on such date of determination; 

provided, however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2014-1) Adverse Event,
the Required Subordinated Amount of Class C Notes for the Class A(2014-1) Notes will be the greater of 
 (x) the amount determined
above for such date of determination and 
 (y) the amount determined above for the date immediately prior to the date on which such Class
A(2014-1) Adverse Event shall have occurred. 
 “Required Subordinated Amount of Class D Notes” means, for the Class
A(2014-1) Notes for any date of determination, an amount equal to the product of 
 (a) the Required Subordinated Percentage of Class D Notes
for such Class A(2014-1) Notes on such date of determination and 
 (b) the Nominal Liquidation Amount of such Class A(2014-1) Notes on such
date of determination; 
 provided, however, that for any date of determination on or after the occurrence and during the continuation of a Class
A(2014-1) Adverse Event, the Required Subordinated Amount of Class D Notes for the Class A(2014-1) Notes will be the greater of 
 (x)
the amount determined above for such date of determination and 
 (y) the amount determined above for the date immediately prior to the date
on which the Class A(2014-1) Adverse Event shall have occurred. 
 “Required Subordinated Percentage of Class B Notes”
means, for the Class A(2014-1) Notes, 7.284768%, subject to adjustment in accordance with Section 2.02. 
 “Required Subordinated
Percentage of Class C Notes” means, for the Class A(2014-1) Notes, 9.271523%, subject to adjustment in accordance with Section 2.02. 

“Required Subordinated Percentage of Class D Notes” means, for the Class A(2014-1) Notes, 15.894040%, subject to adjustment
in accordance with Section 2.02. 
 “Reuters Screen LIBOR01” means the display page currently so designated on the Reuters
Screen (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices). 

“Specified Rating” means, for the Class A(2014-1) Notes, Aaa(sf) with respect to Moody’s, AAA(sf) with respect to
Standard & Poor’s and AAAsf with respect to Fitch. 

  
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 “Stated Principal Amount” means $800,000,000 or such higher amount as is
specified in any Notice of Additional Issuance under Section 2.09. 
 “Targeted Accumulation Reserve Subaccount
Deposit” means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2014-1) Notes as of the close of business on
the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer. 

Section 1.02 Representations and Warranties of Issuer. The Issuer represents and warrants that: 

(a) the Issuer has been duly formed and is validly existing as a statutory trust in good standing under the laws of the State of Delaware, and
has full power and authority to execute and deliver this Terms Document and to perform the terms and provisions hereof; 
 (b) the execution,
delivery and performance of this Terms Document by the Issuer have been duly authorized by all necessary corporate and statutory trust proceedings of any Beneficiary and the Owner Trustee, do not require any approval or consent of any governmental
agency or authority, and do not and will not conflict with any material provision of the Certificate of Trust or the Trust Agreement of the Issuer; 

(c) this Terms Document is the valid, binding and enforceable obligation of the Issuer, except as the same may be limited by receivership,
insolvency, reorganization, moratorium or other laws relating to the enforcement of creditors’ rights generally or by general equity principles; 

(d) to the best of the Issuer’s knowledge, this Terms Document will not conflict with any law or governmental regulation or court decree
applicable to it; 
 (e) the Issuer is not required to be registered under the Investment Company Act; 

(f) all information heretofore furnished by the Issuer in writing to the Indenture Trustee for purposes of or in connection with this Terms
Document or any transaction contemplated hereby is, and all such information hereafter furnished by the Issuer in writing to the Indenture Trustee will be, true and accurate in every material respect or based on reasonable estimates on the date as
of which such information is stated or certified; and 
 (g) to the best knowledge of the Issuer, there are no proceedings or investigations
pending against the Issuer before any court, regulatory body, administrative agency, or other tribunal or governmental instrumentality having jurisdiction over the Issuer (i) asserting the invalidity of this Terms Document, (ii) seeking to
prevent the consummation of any of the transactions contemplated by this Terms Document or (iii) seeking any determination or ruling which in the Issuer’s judgment would materially and adversely affect the performance by the Issuer of its
obligations under this Terms Document or the validity or enforceability of this Terms Document. 

  
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 Section 1.03 Representations and Warranties of Indenture Trustee. The Indenture
Trustee represents and warrants and any successor trustee shall represent and warrant that: 
 (a) The Indenture Trustee is organized,
existing and in good standing under the laws of the United States of America; 
 (b) The Indenture Trustee has full power, authority and
right to execute, deliver and perform this Terms Document, and has taken all necessary action to authorize the execution, delivery and performance by it of this Terms Document; and 

(c) This Terms Document has been duly executed and delivered by the Indenture Trustee. 

Section 1.04 Limitations on Liability. 

(a) It is expressly understood and agreed by the parties hereto that (i) this Terms Document is executed and delivered by the Owner
Trustee not individually or personally but solely as Owner Trustee under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made on
the part of the Issuer is made and intended not as a personal representation, undertaking or agreement by the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained will be construed as
creating any liability on the Owner Trustee individually or personally, to perform any covenant of the Issuer either expressed or implied herein, all such liability, if any, being expressly waived by the parties to this Terms Document and by any
Person claiming by, through or under them and (iv) under no circumstances will the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation,
representation, warranty or covenant made or undertaken by the Issuer under this Terms Document or any related documents. 
 (b) None of the
Indenture Trustee, the Owner Trustee, the Calculation Agent, any Beneficiary, the Depositor, any Master Servicer or any Servicer or any of their respective officers, directors, employees, incorporators or agents will have any liability with respect
to this Terms Document, and recourse may be had solely to the Collateral pledged to secure these Class A(2014-1) Notes under the Indenture, the Indenture Supplement and this Terms Document. 

Section 1.05 Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, WITHOUT REFERENCE TO ANY CONFLICT OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER STATE. 

Section 1.06 Counterparts. This Terms Document may be executed in any number of counterparts, each of which when so executed will
be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.07
Ratification of Indenture and Indenture Supplement. As supplemented by this Terms Document, each of the Indenture and the Indenture Supplement is in all respects 

  
 8 

 
ratified and confirmed and the Indenture as supplemented by the Indenture Supplement and this Terms Document shall be read, taken and construed as one and the same instrument. 

ARTICLE II 
 The Class A(2014-1)
Notes 
 Section 2.01 Creation and Designation. There is hereby created a Tranche of Class A Notes to be issued pursuant to
this Terms Document, the Indenture and the Indenture Supplement to be known as the “DiscoverSeries Class A(2014-1) Notes.” 

Section 2.02 Adjustments to Required Subordinated Percentages and Amount. 

(a) On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class B Notes, the
Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2014-1) Notes, without the consent of any Noteholders; provided that the Issuer has received written
confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. 

(b) On any date, the Issuer may, at the direction of the Beneficiary, replace all or a portion of the Required Subordinated Amount of
Class B Notes, the Required Subordinated Amount of Class C Notes or the Required Subordinated Amount of Class D Notes, in each case for the Class A(2014-1) Notes with a different form of credit enhancement (including, without limitation, a cash
collateral account, a letter of credit, a reserve account, a surety bond, an insurance policy or a collateral interest, or any combination thereof) and may add such definitions and other terms and make such additional amendments to this Terms
Document as shall be necessary for such replacement without the consent of any Noteholders, provided that the Issuer has received written confirmation from each applicable Note Rating Agency that such replacement and such other amendments
will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. 
 Section 2.03 Interest
Payment. For each Interest Payment Date, the amount of interest due with respect to the Class A(2014-1) Notes shall be an amount equal to 
  

	 	(i)	(A) a fraction, the numerator of which is the actual number of days in the related Interest Accrual Period and the denominator of which is 360, times 

(B) the Note Interest Rate in effect with respect to such related Interest Accrual Period, times 

 

	 	(ii)	the Outstanding Dollar Principal Amount of the Class A(2014-1) Notes determined as of the first date of such related Interest Accrual Period, plus 

  
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 any Class A Tranche Interest Allocation Shortfall for such Class A(2014-1) Notes for the immediately
preceding Distribution Date, together with interest thereon at the Note Interest Rate in effect with respect to such related Interest Accrual Period, calculated on the basis of the actual number of days in the related Interest Accrual Period and a
360-day year. 
 Section 2.04 Notification of LIBOR. On each LIBOR Determination Date, the Indenture Trustee shall send to the
Issuer, the Beneficiary, each applicable Master Servicer and any stock exchange on which the Class A(2014-1) Notes are then listed (if the rules of such exchange so require), by facsimile transmission or electronic transmission, notification of
LIBOR for the following Interest Accrual Period. 
 Section 2.05 Payments of Interest and Principal. 

(a) The Issuer will cause interest to be paid on each Interest Payment Date and principal to be paid on the Expected Maturity Date;
provided, however, that it shall not be an Event of Default if principal is not paid in full on such Expected Maturity Date unless funds for such payment have been allocated in accordance with Section 3.01 of the Indenture
Supplement; and provided, further, that if a Class A(2014-1) Adverse Event has occurred and is continuing, principal will instead be payable in monthly installments on each Principal Payment Date for the Class A(2014-1) Notes in
accordance with Sections 3.01 and 3.05 of the Indenture Supplement. All payments of interest and principal on the Class A(2014-1) Notes shall be made as set forth in Section 1102 of the Indenture. 

(b) The right of the Class A(2014-1) Noteholders to receive payments from the Issuer will terminate on the Class A(2014-1) Termination Date.

 (c) All payments of principal, interest or other amounts to the Class A(2014-1) Noteholders will be made pro rata based on the
Stated Principal Amount of their Class A(2014-1) Notes. 
 Section 2.06 Form of Delivery of Class A(2014-1) Notes; Depository;
Denominations. 
 (a) The Class A(2014-1) Notes shall be delivered in the form of a Global Note which shall be a Registered Note as
provided in Section 204 of the Indenture. The form of the Class A(2014-1) Notes is attached hereto as Exhibit A. 
 (b) The Depository
for the Class A(2014-1) Notes shall be The Depository Trust Company, and the Class A(2014-1) Notes shall initially be registered in the name of Cede & Co., its nominee. 

(c) The Class A(2014-1) Notes will be issued in minimum denominations of $200,000 and integral multiples of $1,000 in excess of that amount.

 Section 2.07 Delivery and Payment for the Class A(2014-1) Notes. The Issuer shall execute and deliver the Class A(2014-1)
Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2014-1) Notes when authenticated, each in accordance with Sections 203 and 303 of the Indenture. 

  
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 Section 2.08 Targeted Deposits to the Accumulation Reserve Account. The deposit
targeted to be made to the Accumulation Reserve Subaccount for the Class A(2014-1) Notes for any Due Period during the Accumulation Reserve Funding Period will be an amount equal to the Targeted Accumulation Reserve Subaccount Deposit minus
any amount on deposit in the Accumulation Reserve Subaccount for the Class A(2014-1) Notes. 
 Section 2.09 Additional Issuances of
Notes. Subject to clauses (ii), (iii), (iv) and (v) of Sections 2.02 and Section 2.03 of the Indenture Supplement, the Issuer may issue additional Class A(2014-1) Notes, so long as the following conditions precedent are satisfied:

 (a) the Issuer shall have given the Indenture Trustee written notice of such issuance of additional Class A(2014-1) Notes (the
“Notice of Additional Issuance”) at least one (1) Business Day in advance of the Issuance Date thereof, which notice shall include: 
  

	 	(i)	the Issuance Date of such additional Class A(2014-1) Notes; 

  

	 	(ii)	the amount of such additional Class A(2014-1) Notes being offered and the resulting Initial Dollar Principal Amount and Stated Principal Amount of Class A(2014-1) Notes; 

 

	 	(iii)	the date from which interest on such additional Class A(2014-1) Notes will accrue (which may be a date prior to the date of issuance thereof); 

 

	 	(iv)	the first Interest Payment Date on which interest will be paid on such additional Class A(2014-1) Notes; and 

  

	 	(v)	any other terms that the Issuer set forth in such notice of issuance of additional Class A(2014-1) Notes to clarify the rights of Holders of such additional Class A(2014-1) Notes or the effect of such issuance of
additional Class A(2014-1) Notes on any calculations to be made with respect to the Class A(2014-1) Notes, Class A, or the Issuer. 

 All
such terms shall be incorporated into and form a part of this Terms Document on and after the effective date of such Class A(2014-1) Notes; 

(b) no Class A(2014-1) Adverse Event has occurred and is continuing; and 

(c) either (i) the issuance of such additional Class A(2014-1) Notes would be treated as part of the same issue as the outstanding Class
A(2014-1) Notes under Treasury Regulation Sections 1.1275-1(f)(1) or 1.1275-2(k), or (ii) such additional Class A(2014-1) Notes are not issued with “original issue discount” for purposes of Section 1273 of the Code. 

The Issuer shall not have to satisfy the conditions set forth in Section 310 of the Indenture in connection with an issuance of
additional Class A(2014-1) Notes so long as such conditions were satisfied or waived in connection with the initial issuance of Class A(2014-1) Notes; 

  
 11 

 
provided, however, that the Issuer shall have to deliver to the Indenture Trustee a Master Trust Tax Opinion and an Issuer Tax Opinion with respect to such issuance. 

Section 2.10 Designation of Additional Amounts to be included in the Excess Spread Amount for the DiscoverSeries Notes. At any
time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections allocated to such Series will be deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust
to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal to (x) all Series Principal Collections allocated to such Series, multiplied by (y) a fraction, the numerator
of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including the Class A(2014-1) Notes and the denominator of which is (i) the Aggregate Investor Interest for the Master Trust
minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal Collections allocated to such Series will be so deposited, is hereby designated to be included in the Excess Spread Amount and
shall be treated as Series Finance Charge Amounts for the DiscoverSeries. 
 Section 2.11 Variable Accumulation Period.
Notwithstanding anything to the contrary in Section 4.02 of the Indenture Supplement, the Calculation Agent on behalf of the Issuer shall, by written notice to the Indenture Trustee, delay the commencement of the Accumulation Period for the
Class A(2014-1) Notes and determine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 2.11; provided, however, that the Accumulation Period shall commence no later than the first day of the
Due Period related to the Expected Maturity Date for the Class A(2014-1) Notes. Any such delay by the Calculation Agent on behalf of the Issuer shall be made no later than the first day of the scheduled Due Period immediately preceding the first Due
Period in the Accumulation Period (after giving effect to any prior delay in the commencement of the Accumulation Period pursuant to this Section 2.11). 

The Calculation Agent on behalf of the Issuer shall cause such delay if the Calculation Agent determines in good faith that each of the
following conditions will be satisfied: (i) the Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Calculation Agent on behalf of the Issuer reasonably believes that, based on the
payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period for the Class A(2014-1) Notes will not result in any Tranche of Notes not being
paid in full on the relevant Expected Maturity Date; (ii) such delay is permitted under the Series 2007-CC Series Supplement or any other applicable agreement relating to any Additional Collateral Certificate; and (iii) the Accumulation
Amount, the Accumulation Commencement Date and the Accumulation Period Length shall have been adjusted. The Calculation Agent on behalf of the Issuer shall not be required to obtain confirmation from the applicable Note Rating Agencies that such
delay in the commencement of the Accumulation Period will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes, unless at the time of such delay there is a Tranche of Outstanding DiscoverSeries Notes, which were issued
prior to January 1, 2009 and for which the commencement of the Accumulation Period for such Tranche of Notes has already been delayed pursuant to Section 4.02 of the Indenture Supplement. If such confirmation from the applicable Note
Rating Agency is not required, the Calculation Agent on behalf of the Issuer shall provide written notice to each applicable Note Rating Agency in the event that the 

  
 12 

 
commencement of the Accumulation Period for the Class A(2014-1) Notes is delayed pursuant to this Section 2.11. 

Section 2.12 Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing
Agreement, with respect to the Class A(2014-1) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s: 

(a) A-1 or AAA for funds on deposit in all Issuer Accounts other than Principal Funding Accounts; 

(b) A-1+ or AAA for funds on deposit in Principal Funding Accounts; or 

(c) any rating category which will not cause a reduction in or withdrawal of the rating of the Class A(2014-1) Notes, as confirmed in writing
by Standard & Poor’s. 
 [Remainder of page intentionally blank; signature page follows] 

  
 13 

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

					
	DISCOVER CARD EXECUTION NOTE TRUST,
	    as Issuer
		
	By:	 	Wilmington Trust Company,
		 	  not in its individual capacity but solely as Owner

 Trustee

		
	By:	 	  

		 	Name: Jennifer A. Luce
		 	Title: Vice President
	
	U.S. BANK NATIONAL ASSOCIATION,
	    as Indenture Trustee
		
	By:	 	  

		 	Name: Melissa A. Rosal
		 	Title: Vice President

 [Signature Page to Class A(2014-1) Terms Document] 

 DISCOVERSERIES CLASS A(2014-1) NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO
THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE, BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT AT ANY TIME
INSTITUTE AGAINST THE ISSUER, ANY MASTER TRUST OR ANY SPECIAL PURPOSE ENTITY THAT ACTS AS A DEPOSITOR WITH RESPECT TO ANY MASTER TRUST OR THE ISSUER, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUER, ANY MASTER TRUST OR ANY SPECIAL PURPOSE ENTITY THAT
ACTS AS A DEPOSITOR WITH RESPECT TO ANY MASTER TRUST OR THE ISSUER, ANY RECEIVERSHIP, INSOLVENCY, BANKRUPTCY OR SIMILAR PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY
OBLIGATIONS RELATING TO THE NOTES, THE INDENTURE, ANY DERIVATIVE AGREEMENT, ANY SUPPLEMENTAL CREDIT ENHANCEMENT AGREEMENT AND ANY SUPPLEMENTAL LIQUIDITY AGREEMENT. 

THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A BENEFICIAL
INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

			
	REGISTERED	  	$[•] *
	No. 1	  	CUSIP NO. 254683BG9

 DISCOVER CARD EXECUTION NOTE TRUST 

Floating Rate 
 DISCOVERSERIES
CLASS A(2014-1) NOTE 
 DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (herein
referred to as the “Issuer” or the “Note Issuance Trust”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of $[•]
([•] dollars) payable on the January 15, 2019 Payment Date (the “Expected Maturity Date”), except as otherwise provided below or in the Indenture or the Indenture Supplement (as defined on the reverse hereof);
provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the July 15, 2021 Payment Date (the “Legal Maturity Date”). Interest will accrue on this Note at the rate of
one-month LIBOR + 0.43% per annum, as more specifically set forth in the Class A(2014-1) Terms Document dated as of January 27, 2014 (the “Terms Document”), between the Issuer and U.S. Bank National Association, as
Indenture Trustee (the “Indenture Trustee”, which term includes any successor Indenture Trustee under the Indenture), and shall be due and payable on each Interest Payment Date from and including the previous Interest Payment Date
(or, in the case of the first Interest Payment Date for any Class A(2014-1) Notes, from and including the applicable Issuance Date) to but excluding such Interest Payment Date. Interest will be computed on the basis of the actual number of days
elapsed and a 360-day year. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 
 The
principal and interest may be payable monthly, and may be payable earlier or later than the Expected Maturity Date, following an Event of Default or while an Early Redemption Event has occurred and is continuing. No principal or interest will be
distributed on the Note following the distribution of proceeds of a Receivables Sale. 
 The principal of and interest on this Note are
payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

The Initial Dollar Principal Amount of the Class A(2014-1) Notes is $800,000,000. 

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set
forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by the Indenture Trustee whose name
appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture, Indenture Supplement or the Terms Document referred to on the reverse hereof, or be valid or obligatory for any purpose. 

 

	*	Denominations of $200,000 and in integral multiples of $1,000 in excess thereof. 

  
 2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer. 
  

			
	 DISCOVER CARD EXECUTION NOTE TRUST, as Issuer

		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity, but solely as Owner Trustee
		
	By:	 	  

		 	Name:
		 	Title:
		
		 	Date:

  
 3 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

			
	 US BANK NATIONAL ASSOCIATION,

	     not in its individual capacity but solely as

    Indenture Trustee

		
	By:	 	  

		 	Name:
		 	Title:
		
		 	Date:

  
 4 

 REVERSE OF NOTE 

This Note is one of the Notes of a duly authorized issue of Notes of the Issuer, designated as its Class A(2014-1) DiscoverSeries Notes
(herein called the “Class A(2014-1) Notes”), all issued under an Indenture dated as of July 26, 2007, as amended by the First Amendment to Indenture, dated as of June 4, 2010 (such Indenture, as may be further amended,
restated, amended and restated, supplemented, replaced or otherwise modified from time to time, is herein called the “Indenture”), as supplemented by an Amended and Restated Indenture Supplement for the DiscoverSeries Notes, dated
as of June 4, 2010 (such Indenture Supplement, as may be further amended, restated, amended and restated, supplemented, replaced or otherwise modified from time to time, is herein called the “Indenture Supplement”), between the
Issuer and Indenture Trustee, to which Indenture and Indenture Supplement reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture Trustee and the Holders of the Notes. The Class
A(2014-1) Notes are subject to all terms of the Indenture, the Indenture Supplement and the Terms Document. All terms used in this Class A(2014-1) Note that are defined in the Indenture, the Indenture Supplement and the Terms Document shall have the
meanings assigned to them in or pursuant to the Indenture, the Indenture Supplement and the Terms Document. 
 The Class B Notes, the Class
C Notes and the Class D Notes of the DiscoverSeries and other tranches of Class A Notes of the DiscoverSeries will also be issued under the Indenture and the Indenture Supplement. 

The Class A(2014-1) Notes are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the
Indenture and the Indenture Supplement. 
 Principal of the Class A(2014-1) Notes will be payable on the Expected Maturity Date in an amount
described on the face hereof except as otherwise provided in the Indenture or the Indenture Supplement. 
 As described above, the entire
unpaid principal amount of this Class A(2014-1) Note shall be due and payable on the Legal Maturity Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Class A(2014-1) Notes shall be due and payable on the date on which an
Event of Default relating to the Class A(2014-1) Notes shall have occurred and be continuing and, except in the event of an insolvency related default, the Indenture Trustee or the Majority Holders of the applicable Series, Class or Tranche of
Outstanding Dollar Principal Amount of the Outstanding Notes have declared the Class A(2014-1) Notes to be immediately due and payable in the manner provided in Section 702 of the Indenture; provided, however, that such
acceleration of the entire unpaid principal amount of the Notes may be rescinded by the Majority Holders of such applicable Series, Class or Tranche of Notes. 

On any day occurring on or after the date on which the aggregate Nominal Liquidation Amount of any Tranche of Notes is reduced to less than 5%
of its highest Outstanding Dollar Principal Amount, the Depositor or any Affiliate thereof has the right, but not the obligation, to redeem such Tranche of Notes in whole but not in part, pursuant to Section 1202 of the Indenture. The
redemption price will be an amount equal to the Outstanding Dollar Principal Amount of such Tranche, plus accrued, unpaid and additional interest or principal accreted and unpaid on such Tranche to but excluding the date of redemption. 

  
 5 

 Subject to the terms and conditions of the Indenture, the Beneficiary, on behalf of the Note
Issuance Trust, may from time to time issue, or direct the Owner Trustee, on behalf of the Note Issuance Trust, to issue, one or more Series, Classes or Tranches of Notes. 

On each Payment Date, the Paying Agent shall distribute to each Holder of Class A(2014-1) Notes of record on the related Record Date (except
for the final distribution with respect to this Class A(2014-1) Note) such Holder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest and principal on the Class A
Notes. 
 Payments of interest on this Class A(2014-1) Note due and payable on each Payment Date, together with any installment of
principal, if any, to the extent not in full payment of this Class A(2014-1) Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Class A(2014-1) Note on the Note Register as of the close of business
on each Record Date, except that with respect to Class A(2014-1) Notes registered on the Record Date in the name of the nominee of the clearing agency (initially, such nominee to be CEDE & CO.), payments will be made by wire transfer in
immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring
that this Class A(2014-1) Note be submitted for notation of payment. Any reduction in the principal amount of this Class A(2014-1) Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon
all future Holders of this Class A(2014-1) Note and of any Class A(2014-1) Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided
in the Indenture, for payment in full of the then remaining unpaid principal amount of this Class A(2014-1) Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Registered
Holder hereof as of the Record Date preceding such Payment Date by notice mailed within five days of such Payment Date and the amount then due and payable shall be payable only upon presentation and surrender of this Class A(2014-1) Note at the
Indenture Trustee’s principal Corporate Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. On any payment of interest or principal being made, details of such payment
shall be entered by the Indenture Trustee on behalf of the Issuer in Schedule A hereto. 
 As provided in the Indenture and subject to
certain limitations set forth therein and as set forth in the first legend on the face hereof, the transfer of this Class A(2014-1) Note may be registered on the Note Register upon surrender of this Class A(2014-1) Note for registration of transfer
at the office or agency designated by the Issuer pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or his attorney duly
authorized in writing, with such signature guaranteed by a commercial bank or trust company located, or having a correspondent located, in the City of New York or the city in which the Corporate Trust Office is located, or a member firm of a
national securities exchange, and such other documents as the Indenture Trustee may require, and thereupon one or more new Class A(2014-1) Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated
transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Class A(2014-1) Note, but the transferor may be required to pay a sum 

  
 6 

 
sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 

To the fullest extent permitted by applicable law, each Noteholder or Note Owner, by acceptance of a Class A(2014-1) Note or, in the case of a
Note Owner, a beneficial interest in a Class A(2014-1) Note, covenants and agrees that by accepting the benefits of the Indenture it will not at any time institute against the Issuer, any Master Trust or any special purpose entity that acts as a
depositor with respect to any Master Trust or the Issuer, or join in any institution against the Issuer, any Master Trust or any special purpose entity that acts as a depositor with respect to any Master Trust or the Issuer of, any receivership,
insolvency, bankruptcy or other similar proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture, any Derivative Agreement, any
Supplemental Credit Enhancement Agreement and any Supplemental Liquidity Agreement. 
 Prior to the due presentment for registration of
transfer of this Class A(2014-1) Note, the Issuer, the Indenture Trustee and any agent of the Issuer or the Indenture Trustee may treat the Person in whose name this Class A(2014-1) Note (as of the day of determination or as of such other date as
may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Class A(2014-1) Note be overdue, and neither the Issuer, the Indenture Trustee nor any such agent shall be affected by notice to the contrary.

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Holders of Notes representing not less than 66 2/3% of the Outstanding Dollar Principal Amount of each
adversely affected Series, Class or Tranche of Notes. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Dollar Principal Amount of the Notes, on behalf of the Holders of all
the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Class A(2014-1) Note shall be conclusive and
binding upon such Holder and upon all future Holders of this Class A(2014-1) Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon
this Class A(2014-1) Note. The Indenture also permits the Indenture Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 

The term “Issuer” as used in this Class A(2014-1) Note includes any successor to the Issuer under the Indenture. 

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Indenture Trustee
and the Holders of Notes under the Indenture. 
 The Class A(2014-1) Notes are issuable only in registered form in denominations as provided
in the Indenture, subject to certain limitations therein set forth. 

  
 7 

 THIS CLASS A(2014-1) NOTE AND THE INDENTURE WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, WITHOUT REFERENCE TO ANY CONFLICT OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER STATE. 

No reference herein to the Indenture and no provision of this Class A(2014-1) Note or of the Indenture shall alter or impair the obligation of
the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Class A(2014-1) Note at the times, place, and rate, and in the coin or currency herein prescribed. 

No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer on the Notes or under the Indenture or any
certificate or other writing delivered in connection therewith, against (i) the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary, agent, officer,
director or employee of the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer or any successor or assign of the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed
(it being understood that the Owner Trustee has no such obligations in its individual capacity). The Holder of this Class A(2014-1) Note by the acceptance hereof agrees that, except as expressly provided in the Indenture and the Indenture Supplement
in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent
recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Class A(2014-1) Note. 

  
 8 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

 
 FOR VALUE RECEIVED, the undersigned hereby
sells, assigns and transfers unto 
 (name and address of assignee) 

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints attorney, to transfer said Note on the books kept for registration
thereof, with full power of substitution in the premises. 
  

							
	Dated:	 	  
	  	  
	 	  *
		 		  	Signature Guaranteed:

  
  

	*	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 9 

 SCHEDULE A 

PART I 
 INTEREST
PAYMENTS 
  

									
	 Interest

Payment Date
	  	 Date of

Payment
	  	 Total Amount

of Interest

Payable
	  	 Amount of

Interest Paid
	  	 Confirmation of

payment by or on
behalf of the Note

Issuance

Trust

	1.	  		  		  		  	
	2.	  		  		  		  	
	3.	  		  		  		  	
	4.	  		  		  		  	
	5.	  		  		  		  	
	6.	  		  		  		  	
	7.	  		  		  		  	
	8.	  		  		  		  	
	9.	  		  		  		  	
	10.	  		  		  		  	
	11.	  		  		  		  	
	12.	  		  		  		  	
	13.	  		  		  		  	
	14.	  		  		  		  	
	15.	  		  		  		  	
	16.	  		  		  		  	
	17.	  		  		  		  	
	18.	  		  		  		  	
	19.	  		  		  		  	
	20.	  		  		  		  	
	21.	  		  		  		  	
	22.	  		  		  		  	
	23.	  		  		  		  	
	24.	  		  		  		  	
	25.	  		  		  		  	
	26.	  		  		  		  	
	27.	  		  		  		  	
	28.	  		  		  		  	
	29.	  		  		  		  	
	30.	  		  		  		  	
	31.	  		  		  		  	
	32.	  		  		  		  	
	33.	  		  		  		  	
	34.	  		  		  		  	
	35.	  		  		  		  	
	36.	  		  		  		  	
	37.	  		  		  		  	

  
 10 

									
	38.	  		  		  		  	
	39.	  		  		  		  	
	40.	  		  		  		  	
	41.	  		  		  		  	
	42.	  		  		  		  	
	43.	  		  		  		  	
	44.	  		  		  		  	
	45.	  		  		  		  	
	46.	  		  		  		  	
	47.	  		  		  		  	
	48.	  		  		  		  	
	49.	  		  		  		  	
	50.	  		  		  		  	
	51.	  		  		  		  	
	52.	  		  		  		  	
	53.	  		  		  		  	
	54.	  		  		  		  	
	55.	  		  		  		  	
	56.	  		  		  		  	
	57.	  		  		  		  	
	58.	  		  		  		  	
	59.	  		  		  		  	
	60.	  		  		  		  	

  
 11 

 PART II 

PRINCIPAL PAYMENTS 
  

									
	 Principal

Payment Date
	  	 Date of Payment
	  	 Total Amount

of Principal

Payable
	  	 Total Amount

Paid
	  	 Confirmation of

payment by or on
behalf of the Note

Issuance

Trust

	1.	  		  		  		  	
	2.	  		  		  		  	
	3.	  		  		  		  	
	4.	  		  		  		  	
	5.	  		  		  		  	
	6.	  		  		  		  	
	7.	  		  		  		  	
	8.	  		  		  		  	
	9.	  		  		  		  	
	10.	  		  		  		  	
	11.	  		  		  		  	
	12.	  		  		  		  	

  
 12EX-10.1

 Exhibit 10.1 

COMMERCIAL VEHICLE GROUP, INC. 

CHANGE IN CONTROL & NON-COMPETITION AGREEMENT 

This Agreement is made as of this 23 day of January, 2014, by and between C. Timothy Trenary (“Executive”) and Commercial
Vehicle Group, Inc., a Delaware corporation with its principal office at 7800 Walton Parkway, New Albany, Ohio 43054, its subsidiaries, successors and assigns (the “Company”). 

Recitals 
 A. The
Company is engaged in the business of developing, manufacturing, and marketing of interior systems, vision safety solutions and other cab-related products for the global commercial vehicle market, including the heavy-duty (Class 8) truck market, the
construction market and other specialized transportation markets and in connection therewith develops and uses valuable technical and nontechnical trade secrets and other confidential information which it desires to protect. 

B. You will continue to be employed as an executive officer of the Company. 

C. The Company considers your continued services to be in the best interest of the Company and desires, through this Agreement, to assure your
continued services on behalf of the Company on an objective and impartial basis and without distraction or conflict of interest in the event of an attempt to obtain control of the Company. 

D. You are willing to remain in the employ of the Company on the terms set forth in this agreement. 

Agreement 
 NOW,
THEREFORE, the parties agree as follows: 
 1. Consideration. As consideration for your entering into this Agreement and your
willingness to remain bound by its terms, the Company shall continue to employ you and provide you with access to certain Confidential Information as defined in this Agreement and other valuable consideration as provided for throughout this
Agreement, including in Sections 3 and 4 of this Agreement. 
 2. Employment.  

(a) Position. You will continue to be employed as Executive Vice President and Chief Financial Officer reporting to the President
and Chief Executive Officer of the Company. You shall continue to perform the duties, undertake the responsibilities and exercise the authority customarily performed, undertaken and exercised by persons employed in similar executive capacities. 

(b) Restricted Employment. While employed by the Company, you shall devote your best efforts to the business of the Company and
shall not engage in any outside 

 
employment or consulting work without first securing the approval of the Company’s Board of Directors. Furthermore, so long as you are employed under this Agreement, you agree to devote your
full time and efforts exclusively on behalf of the Company and to competently, diligently, and effectively discharge your duties hereunder. You shall not be prohibited from engaging in such personal, charitable, or other non-employment activities
that do not interfere with your full time employment hereunder and which do not violate the other provisions of this Agreement. You further agree to comply fully with all policies and practices of the Company as are from time to time in effect. 

3. Compensation. 

(a) Your compensation will be continued at your current annual base rate (“Basic Salary”), payable in accordance with the
normal payroll practices of the Company. Your base salary may be increased from time to time by action of the Board of Directors of the Company. You will also be eligible for a cash bonus under a performance bonus plan which is determined annually
by the Board of Directors of the Company (the “Annual Bonus”). Any Annual Bonus earned hereunder shall be paid no later than March 15th of the calendar year following the calendar year in which or with which the applicable
annual bonus period ends. 
 (b) You will be entitled to receive equity and other long term incentive awards (including but not limited to
restricted stock awards) pursuant to the terms of the Company’s Equity Incentive Plan or other plan adopted by the Board of Directors of the Company from time to time. If a “Change in Control,” as defined in Section 9(e)(v),
shall occur (i) in which the Company does not survive as a result of such Change in Control or substantially all of the assets of the Company are sold as a result of such Change in Control, and (ii) in which the surviving entity does not
assume the obligations of your outstanding stock options upon the Change in Control, then all outstanding stock options and restricted stock issued to you prior to the Change in Control will be immediately vested upon such Change of Control and such
options will be exercisable for a period of at least 12 months from the date of the Change in Control, but, in no event, following the expiration date of the term of such stock options. 

(c) Subject to applicable Company policies, you will be reimbursed for necessary and reasonable business expenses incurred in connection with
the performance of your duties hereunder or for promoting, pursuing or otherwise furthering the business or interests of the Company. 
 4.
Fringe Benefits. You will be entitled to receive employee benefits and participate in any employee benefit plans, in accordance with their terms as from time to time amended, that the Company maintains during your employment and which
are made generally available to all other executive management employees in like positions. This includes medical and dental insurance, life insurance, disability insurance, supplemental medical insurance and 401(k) plan including all executive
benefits as approved by the Board of Directors’ Compensation Committee. 
 5. Reserved.  

  
 2 

 6. Confidential Information. 

(a) As used throughout this Agreement, the term “Confidential Information” means any information you acquire during employment by the
Company (including information you conceive, discover or develop) which is not readily available to the general public and which relates to the business, including research and development projects, of the Company, its subsidiaries or its affiliated
companies. 
 (b) Confidential Information includes, without limitation, information of a technical nature (such as trade secrets,
inventions, discoveries, product requirements, designs, software codes and manufacturing methods), matters of a business nature (such as customer lists, the identities of customer contacts, information about customer requirements and preferences,
the terms of the Company’s contracts with its customers and suppliers, and the Company’s costs and prices), personnel information (such as the identities, duties, customer contacts, and skills of the Company’s employees) and other
financial information relating to the Company and its customers (including credit terms, methods of conducting business, computer systems, computer software, personnel data, and strategic marketing, sales or other business plans). Confidential
Information may or may not be patentable. 
 (c) Confidential Information does not include information which you learned prior to
employment with the Company from sources other than the Company, information you develop after employment from sources other than the Company’s Confidential Information or information which is readily available to persons with equivalent
skills, training and experience in the same fields or fields of endeavor as you. You must presume that all information that is disclosed or made accessible to you during employment by the Company is Confidential Information if you have a reasonable
basis to believe the information is Confidential Information or if you have notice that the Company treats the information as Confidential Information. 

(d) Except in conducting the Company’s business, you shall not at any time, either during or following your employment with the Company,
make use of, or disclose to any other person or entity, any Confidential Information unless (i) the specific information becomes public from a source other than you or another person or entity that owes a duty of confidentiality to the Company
and (ii) twelve months have passed since the specific information became public. However, you may discuss Confidential Information with employees of the Company when necessary to perform your duties to the Company. Notwithstanding the
foregoing, if you are ordered by a court of competent jurisdiction to disclose Confidential Information, you will officially advise the Court that you are under a duty of confidentiality to the Company hereunder, take reasonable steps to delay
disclosure until the Company may be heard by the Court, give the Company prompt notice of such Court order, and if ordered to disclose such Confidential Information you shall seek to do so under seal or in camera or in such other manner as
reasonably designed to restrict the public disclosure and maintain the maximum confidentiality of such Confidential Information. 
 (e) Upon
Employment Separation, you shall deliver to the Company all originals, copies, notes, documents, computer data bases, disks, and CDs, or records of any kind that reflect or relate to any Confidential Information. As used herein, the term
“notes” means written or printed words, symbols, pictures, numbers or formulae. As used throughout this 

  
 3 

 
Agreement, the term “Employment Separation” means the separation from and/or termination of your employment with the Company, regardless of the time, manner or cause of such separation
or termination. 
 7. Inventions. 

(a) As used throughout this Agreement, the term “Inventions” means any inventions, improvements, designs, plans, discoveries or
innovations of a technical or business nature, whether patentable or not, relating in any way to the Company’s business or contemplated business if the Invention is conceived or reduced to practice by you during your employment by the Company.
Inventions includes all data, records, physical embodiments and intellectual property pertaining thereto. Inventions reduced to practice within one year following Employment Separation shall be presumed to have been conceived during employment. 

(b) Inventions are the Company’s exclusive property and shall be promptly disclosed and assigned to the Company without additional
compensation of any kind. If requested by the Company, you, your heirs, your executors, your administrators or legal representative will provide any information, documents, testimony or other assistance needed for the Company to acquire, maintain,
perfect or exercise any form of legal protection that the Company desires in connection with an Invention. 
 (c) Upon Employment Separation,
you shall deliver to the Company all copies of and all notes with respect to all documents or records of any kind that relate to any Inventions. 

8. Noncompetition and Nonsolicitation. 

(a) By entering into this Agreement, you acknowledge that the Confidential Information has been and will be developed and acquired by the
Company by means of substantial expense and effort, that the Confidential Information is a valuable asset of the Company’s business, that the disclosure of the Confidential Information to any of the Company’s competitors would cause
substantial and irreparable injury to the Company’s business, and that any customers of the Company developed by you or others during your employment are developed on behalf of the Company. You further acknowledge that you have been provided
with access to Confidential Information, including Confidential Information concerning the Company’s major customers, and its technical, marketing and business plans, disclosure or misuse of which would irreparably injure the Company. 

(b) In exchange for the consideration specified in Section 1 of this Agreement — the adequacy of which you expressly acknowledge
— you agree that during your employment by the Company and for a period of twelve (12) months following Employment Separation, you shall not, directly or indirectly, as an owner, shareholder, officer, employee, manager, consultant,
independent contractor, or otherwise: 
 (i) Attempt to recruit or hire, interfere with or harm, or attempt to interfere with
or harm, the relationship of the Company, its subsidiaries or affiliates, with any person who is an employee, customer or supplier of the Company, it subsidiaries or affiliates; 

  
 4 

 (ii) Contact any employee of the Company for the purpose of discussing or
suggesting that such employee resign from employment with the Company for the purpose of becoming employed elsewhere or provide information about individual employees of the Company or personnel policies or procedures of the Company to any person or
entity, including any individual, agency or company engaged in the business of recruiting employees, executives or officers; or 

(iii) Own, manage, operate, join, control, be employed by, consult with or participate in the ownership, management, operation
or control of, or be connected with (as a stockholder, partner, or otherwise), any business, individual, partner, firm, corporation, or other entity that competes or plans to compete, directly or indirectly, with the Company, its products, or any
division, subsidiary or affiliate of the Company; provided, however, that your “beneficial ownership,” either individually or as a member of a “group” as such terms are used in Rule 13d of the General Rules and Regulations under
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), of not more than two percent (2%) of the voting stock of any publicly held corporation, shall not be a violation of this Agreement. 

9. Termination of Employment. 

(a) Termination Upon Death or Disability. Your employment will terminate automatically upon your death. The Company will be entitled to
terminate your employment because of your disability upon 30 days written notice. “Disability” will mean “total disability” as defined in the Company’s long term disability plan or any successor thereto. In the event of a
termination under this Section 9(a), the Company will pay you (i) the earned but unpaid portion of your Basic Salary through the employment termination date; (ii) reimbursement of all business expenses for which you are entitled to be
reimbursed pursuant to Section 3(c) above, but for which you have not yet been reimbursed; (iii) vested benefits, if any, to which you may be entitled under the Company’s employee benefit plans as of the employment termination date;
(iv) any Annual Bonus earned with respect to the previous calendar year but unpaid as of the employment termination date; and (v) a prorated amount of the Annual Bonus for the calendar year in which the termination occurs, calculated by
multiplying the Annual Bonus that you would have received for such year had your employment continued through the end of such calendar year by a fraction, the numerator of which is the number of days you were employed during the applicable year and
the denominator of which is 365. 
 (b) Termination by Company for Cause. An Employment Separation for Cause will occur upon a
determination by the Company that “Cause” exists for your termination and the Company serves you written notice of such termination. As used in this Agreement, the term “Cause” shall refer only to any one or more of the following
grounds: 
 (i) Commission of an act of dishonesty involving the Company, its business or property, including, but not
limited to, misappropriation of funds or any property of the Company; 
 (ii) Willful engagement in activities or conduct
clearly injurious to the best interests or reputation of the Company; 

  
 5 

 (iii) Willful and continued failure substantially to perform your duties under
this Agreement (other than as a result of physical or mental illness or injury), after the Board of Directors of the Company delivers to you a written demand for substantial performance that specifically identifies the manner in which the Board
believes that you have not substantially performed your duties; 
 (iv) Illegal conduct or gross misconduct that is willful
and results in material and demonstrable damage to the business or reputation of the Company; 
 (v) The clear and willful
violation of any of the material terms and conditions of this Agreement or any other written agreement or agreements you may from time to time have with the Company; 

(vi) The clear and willful violation of the Company’s code of business conduct or the clear violation of any other rules
of behavior as may be provided in any employee handbook which would be grounds for dismissal of any employee of the Company; or 

(vii) Commission of a crime which is a felony, a misdemeanor involving an act of moral turpitude, or a misdemeanor committed in
connection with your employment by the Company which causes the Company a substantial detriment. 
 No act or failure to act shall be
considered “willful” unless it is done, or omitted to be done, by you in bad faith or without reasonable belief that your action or omission was in the best interests of the Company. Any act or failure to act that is based upon authority
given pursuant to a resolution duly adopted by the Board of Directors, or the advice of counsel for the Company, shall be conclusively presumed to be done, or omitted to be done, by you in good faith and in the best interests of the Company. 

In the event of a termination under this Section 9(b), the Company will pay you (i) the earned but unpaid portion of your Basic
Salary through the employment termination date; (ii) reimbursement of all business expenses for which you are entitled to be reimbursed pursuant to Section 3(c) above, but for which you have not yet been reimbursed; (iii) vested
benefits, if any, to which you may be entitled under the Company’s employee benefit plans as of the employment termination date. 

Following a termination for Cause by the Company, if you desire to contest such determination, your sole remedy will be to submit the
Company’s determination of Cause to arbitration in Columbus, Ohio before a single arbitrator under the commercial arbitration rules of the American Arbitration Association. If the arbitrator determines that the termination was other than for
Cause, the Company’s sole liability to you will be the amount that would be payable to you under Section 9(d)of this Agreement for a termination of your employment by the Company without Cause. Each party will bear his or its own expenses
of the arbitration. 
 (c) Termination by You. In the event of an Employment Separation as a result of a termination by you for any
reason, you must provide the Company with at least 14 days advance written notice (“Notice of Termination”) and continue working for the Company during 

  
 6 

 
the 14-day notice period, but only if the Company so desires to continue your employment and to compensate you during such period. 

In the event of such termination under this Section other than by you for Good Reason (as defined in Section 9(f)), the Company will pay
you (i) the earned but unpaid portion of your Basic Salary through the employment termination date; (ii) reimbursement of all business expenses for which you are entitled to be reimbursed pursuant to Section 3(c) above, but for which
you have not yet been reimbursed; (iii) vested benefits, if any, to which you may be entitled under the Company’s employee benefit plans as of the employment termination date. 

(d) Termination by Company Without Cause or by You for Good Reason. In the event of an Employment Separation as a result of termination
(i) by the Company without Cause (and other than due to your death or Disability) or (ii) by you for Good Reason (and either such termination is not within 13 months following a Change in Control), the Company shall pay or provide you
(i) the earned but unpaid portion of your Basic Salary through the employment termination date; (ii) reimbursement of all business expenses for which you are entitled to be reimbursed pursuant to Section 3(c) above, but for which you
have not yet been reimbursed; (iii) vested benefits, if any, to which you may be entitled under the Company’s employee benefit plans as of the employment termination date; (iv) any Annual Bonus earned with respect to the previous
calendar year but unpaid as of the employment termination date; (v) a prorated amount of the Annual Bonus for the calendar year in which the termination occurs, calculated by multiplying the Annual Bonus that you would have received for such
year had your employment continued through the end of such calendar year by a fraction, the numerator of which is the number of days you were employed during the applicable year and the denominator of which is 365; (vi) immediate vesting of all
outstanding stock options and restricted stock awards issued to you, and thereafter shall be exercisable until the earlier of (A) 12 months after the termination of your employment hereunder or (B) the original expiration date of such
stock options (but in no event later than the date at which such options may remain outstanding without subjecting the options to the excise tax under Code Section 409A, as defined below); (vii) salary continuation severance pay at the
Basic Salary rate for an additional twelve (12) months (the “Severance Period”); provided, however, that any such payments will immediately end if (i) you are in violation of any of your obligations under this Agreement,
including Sections 6, 7 and/or 8; or (ii) the Company, after your termination, learns of any facts about your job performance or conduct that would have given the Company Cause, as defined in Section 9(b), to terminate your employment;
provided, further, that any such amounts that constitute nonqualified deferred compensation within the meaning of Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (“Code
Section 409A”) shall not be paid until the 60th day following such termination to the extent necessary to avoid adverse tax consequences under Section 409A, and, if such payments are required to be so deferred, the first payment
shall be in an amount equal to the total amount to which you would otherwise have been entitled during the period following the date of termination if such deferral had not been required. 

(e) Termination Following Change of Control. If a “Change in Control”, as defined in Section 9(e)(v), shall have occurred
and within 13 months following such Change in Control the Company terminates your employment other than for Cause, as defined in Section 9(b), or you terminate your employment for Good Reason, as that term is defined in Section 9(f), then
you shall be entitled to the benefits described below: 

  
 7 

 (i) You shall be entitled to (A) the unpaid portion of your Basic Salary
plus credit for any vacation accrued but not taken, (B) reimbursement of all business expenses for which you are entitled to be reimbursed pursuant to Section 3(c) above, (C) any Annual Bonus earned with respect to the previous
calendar year but unpaid as of the employment termination date, (D) a prorated amount of the Annual Bonus for the calendar year in which the termination occurs, calculated by multiplying the Annual Bonus that you would have received for such
year had your employment continued through the end of such calendar year by a fraction, the numerator of which is the number of days you were employed during the applicable year and the denominator of which is 365, and (E) the amount of any
earned but unpaid portion of any bonus, incentive compensation, or any other fringe benefit to which you are entitled under this Agreement through the date of the termination as a result of a Change in Control (the “Unpaid Earned
Compensation”), plus 1.0 times your “Current Annual Compensation” as defined in this Section 9(e)(i) (the “Salary Termination Benefit”). “Current Annual Compensation” shall mean the total of
your Basic Salary in effect at the Termination Date, plus the average annual performance bonus actually received by you over the last three years fiscal years (or if you have been employed for a shorter period of time over such period during which
you performed services for the Company) plus any medical, financial and insurance coverage provided presently under your current annual compensation plan, and shall not include the value of any stock options granted or exercised, restricted stock
awards granted or vested, any other equity awards under the Company’s Equity Incentive Plan, contributions to 401(k) or other qualified plans.” 

(ii) Immediate vesting of all outstanding stock options and restricted stock awards issued to you, and thereafter shall be
exercisable until the earlier of (x) 12 months after your termination of employment or (y) the original expiration date of such stock options (but in no event later than the date at which such options may remain outstanding without
subjecting the options to the excise tax under Code Section 409A). 
 (iii) Subject to (A) your timely election of
continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), (B) your continued copayment of premiums at the same level and cost to you as if you were an employee of the Company
(excluding, for purposes of calculating cost, an employee’s ability to pay premiums with pre-tax dollars) continued participation in the Company’s group health plan (to the extent permitted under applicable law and the terms of such plan)
which covers you (and your eligible dependents) until the earlier of (A) 12 months after termination of employment following a Change in Control, or (B) your commencement of full-time employment with a new employer with comparable
benefits; provided your continued participation is permitted under the general terms of such plans and programs after the Change in Control (“Fringe Termination Benefit”); (collectively the Salary Termination Benefit and the Fringe
Termination Benefit are referred to as the “Termination Benefits”). The Company may modify its obligation under this Section 9(e)(iii) to the extent necessary to avoid any penalty or excise taxes imposed on the Company in
connection with the continued payment of premiums by the Company under the Patient Protection and Affordable Care Act. 

  
 8 

 (iv) The Unpaid Earned Compensation shall be paid to you within 15 days after
termination of employment, one-half of the Salary Termination Benefit shall be payable to you as severance pay in a lump sum payment within 30 days after termination of employment, and one-half of the Salary Termination Benefit shall be payable to
you as severance pay in equal monthly payments commencing 30 days after termination of employment and ending on the date that is the earlier of two and one-half months after the end of the Company’s taxable year in which termination occurred or
your death; provided, however, the Company may immediately discontinue the payment of the Termination Benefits if (i) you are in violation of any of your obligations under this Agreement, including in Sections 6, 7 and/or 8; and/or
(ii) the Company, after your termination, learns of any facts about your job performance or conduct that would have given the Company Cause as defined in Section 9(b) to terminate your employment. You shall have no duty to mitigate your
damages by seeking other employment, and the Company shall not be entitled to set off against amounts payable hereunder any compensation which you may receive from future employment. To the extent necessary, the parties hereto agree to negotiate in
good faith should any amendment to this Agreement required in order to comply with Section 409A of the Code, provided, however, no amendment shall be effected after the occurrence of a Change in Control. Any amounts payable pursuant to
Section 9(e)(iv) shall not be paid until the first scheduled payment date following the date the General Release (as defined below) is executed and no longer subject to revocation, with the first such payment being in an amount equal to the
total amount to which you would otherwise have been entitled during the period following the date of termination if such deferral had not been required; provided, however, that any such amounts that constitute nonqualified deferred compensation
within the meaning of Code Section 409A shall not be paid until the 60th day following such termination to the extent necessary to avoid adverse tax consequences under Section 409A, and, if such payments are required to be so deferred, the
first payment shall be in an amount equal to the total amount to which you would otherwise have been entitled during the period following the date of termination if such deferral had not been required. 

(v) A “Change in Control” shall be deemed to have occurred if and when, after the date hereof, (i) any
“person” (as that term is used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) on the date hereof), including any “group” as such term is used in
Section 13(d)(3) of the Exchange Act on the date hereof, shall acquire (or disclose the previous acquisition of) beneficial ownership (as that term is defined in Section 13(d) of the Exchange Act and the rules thereunder on the date
hereof) of shares of the outstanding stock of any class or classes of the Company which results in such person or group possessing more than 50% of the total voting power of the Company’s outstanding voting securities ordinarily having the
right to vote for the election of directors of the Company; or (ii) as the result of, or in connection with, any tender or exchange offer, merger or other business combination, or contested election, or any combination of the foregoing
transactions (a “Transaction”), the owners of the voting shares of the Company outstanding immediately prior to such Transaction own less than a majority of the voting shares of the Company after the Transaction; or (iii) during any
period of two consecutive years during the term of this Agreement, individuals who at the beginning of such period constitute the Board 

  
 9 

 
of Directors of the Company (or who take office following the approval of a majority of the directors then in office who were directors at the beginning of the period) cease for any reason to
constitute at least one-half thereof, unless the election of each director who was not a director at the beginning of such period has been approved in advance by directors of the Company representing at least one-half of the directors then in office
who were directors at the beginning of the period; or (iv) the sale, exchange, transfer, or other disposition of all or substantially all of the assets of the Company (a “Sale Transaction”) shall have occurred. Notwithstanding
the foregoing, an event shall not be treated as a “Change in Control” hereunder unless such event also constitutes a change in the ownership or effective control of a corporation, or a change in the ownership of a substantial portion of
the assets of a corporation pursuant to Code Section 409A. 
 (f) As used in this Agreement, the term “Good Reason”
means, without your written consent: 
 (i) a material change in your status, position or responsibilities which, in your
reasonable judgment, does not represent a promotion from your existing status, position or responsibilities as in effect immediately prior to a Change in Control; or the assignment of any duties or responsibilities or the removal or termination of
duties or responsibilities (except in connection with the termination of employment for total and permanent disability, death, or Cause, or by you other than for Good Reason), which, in your reasonable judgment, are materially inconsistent with such
status, position or responsibilities; 
 (ii) a reduction by the Company in your Basic Salary as in effect on the date hereof
or as the same may be increased from time to time during the term of this Agreement or the Company’s failure to increase (within twelve months of your last increase in Basic Salary) your Basic Salary after a Change in Control in an amount which
at least equals, on a percentage basis, the average percentage increase in Basic Salary for all executive and senior officers of the Company, in like positions, which were effected in the preceding twelve months; 

(iii) the relocation of the Company’s principal executive offices to a location outside the greater Columbus metropolitan
area or the relocation of you by the Company to any place other than the location at which you performed duties prior to a Change in Control, except for required travel on the Company’s business to an extent consistent with business travel
obligations at the time of a Change in Control; 
 (iv) the failure of the Company to continue in effect, or continue or
materially reduce your participation in, any incentive, bonus or other compensation plan in which you participate, including but not limited to the Company’s Equity Incentive Plan, unless an equitable arrangement (embodied in an ongoing
substitute or alternative plan), has been made or offered with respect to such plan; 
 (v) the failure by the Company to
continue to provide you with benefits substantially similar to those enjoyed or to which you are entitled under any of 

  
 10 

 
the Company’s deferred compensation, pension, profit sharing, life insurance, medical, dental, health and accident, or disability plans, the taking of any action by the Company which would
directly or indirectly materially reduce any of such benefits or deprive you of any material fringe benefit enjoyed or to which you are entitled, or the failure by the Company to provide the number of paid vacation and sick leave days to which you
are entitled on the basis of years of service with the Company in accordance with the Company’s normal vacation policy in effect on the date hereof; 

(vi) the failure of the Company to obtain a satisfactory agreement from any successor or assign of the Company to assume and
agree to perform this Agreement; 
 (vii) any request by the Company that you participate in an unlawful act or take any
action constituting a breach of your professional standard of conduct; or 
 (viii) any breach of this Agreement on the part
of the Company. 
 Notwithstanding anything in this Section to the contrary, your right to terminate your employment pursuant to this
Section shall not be affected by incapacity due to physical or mental illness. 
 (g) Upon any termination or expiration of this Agreement or
any cessation of your employment hereunder, the Company shall have no further obligations under this Agreement and no further payments shall be payable by the Company to you, except as provided in Section 9 above and except as required under
any benefit plans or arrangements maintained by the Company and applicable to you at the time of such termination, expiration or cessation of your employment. 

(h) Enforcement of Agreement. The Company is aware that upon the occurrence of a Change in Control, the Board of Directors or a
shareholder of the Company may then cause or attempt to cause the Company to refuse to comply with its obligations under this Agreement, or may cause or attempt to cause the Company to institute, or may institute litigation seeking to have this
Agreement declared unenforceable, or may take or attempt to take other action to deny you the benefits intended under this Agreement. In these circumstances, the purpose of this Agreement could be frustrated. Accordingly, if following a Change in
Control it should appear to you that the Company has failed to comply with any of its obligations under Section 9 of this Agreement or in the event that the Company or any other person takes any action to declare Section 9 of this
Agreement void or enforceable, or institutes any litigation or other legal action designed to deny, diminish or to recover from you the benefits entitled to be provided to you under Section 9, and that you have complied with all your
obligations under this Agreement, the Company authorizes you to retain counsel of your choice, at the expense of the Company as provided in this Section 9(h), to represent you in connection with the initiation or defense of any pre-suit
settlement negotiations, litigation or other legal action, whether such action is by or against the Company or any Director, officer, shareholder, or other person affiliated with the Company, in any jurisdiction. Notwithstanding any existing or
prior attorney-client relationship between the Company and such counsel, the Company consents to you entering into an attorney-client relationship with such counsel, and in that connection the 

  
 11 

 
Company and you agree that a confidential relationship shall exist between you and such counsel, except with respect to any fee and expense invoices generated by such counsel. The reasonable fees
and expenses of counsel selected by you as hereinabove provided shall be paid or reimbursed to you by the Company on a regular, periodic basis upon presentation by you of a statement or statements prepared by such counsel in accordance with its
customary practices, up to a maximum aggregate amount of $50,000. Any legal expenses incurred by the Company by reason of any dispute between the parties as to enforceability of Section 9 or the terms contained in Section 9(i),
notwithstanding the outcome of any such dispute, shall be the sole responsibility of the Company, and the Company shall not take any action to seek reimbursement from you for such expenses. 

(i) The noncompetition periods described in Section 8 of this Agreement shall be suspended while you engage in any activities in breach of
this Agreement. In the event that a court grants injunctive relief to the Company for your failure to comply with Section 8, the noncompetition period shall begin again on the date such injunctive relief is granted. 

(j) Nothing contained in this Section 9 shall be construed as limiting your obligations under Sections 6, 7, or 8 of this Agreement
concerning Confidential Information, Inventions, or Noncompetition and Nonsolicitation. 
 (k) Any and all amounts payable and benefits or
additional rights provided pursuant to this Agreement beyond the earned but unpaid Basic Salary shall only be payable if you deliver to the Company and do not revoke a general release of claims in favor of the Company (the “General
Release”) in the form provided as Exhibit A to this Agreement. The General Release must be executed and delivered (and no longer subject to revocation, if applicable) within sixty (60) days following termination. You shall not be
required to mitigate the amount of any payment or benefit provided pursuant to this Agreement by seeking other employment or otherwise, and the Company shall not be entitled to any offset from any payment or benefit owed to you under this Agreement
in the event you secure other employment. 
 10. Remedies; Venue; Process.  

(a) You hereby acknowledge and agree that the Confidential Information disclosed to you prior to and during the term of this Agreement is of a
special, unique and extraordinary character, and that any breach of this Agreement will cause the Company irreparable injury and damage, and consequently the Company shall be entitled, in addition to all other legal and equitable remedies available
to it, to injunctive and any other equitable relief to prevent or cease a breach of Sections 6, 7, or 8 of this Agreement without further proof of harm and entitlement; that the terms of this Agreement, if enforced by the Company, will not unduly
impair your ability to earn a living or pursue your vocation; and further, that the Company may cease paying any compensation and benefits under Section 9 if you fail to comply with this Agreement, without restricting the Company from other
legal and equitable remedies. 
 (b) Except for actions brought under Section 9(b) of this Agreement, the parties agree that
jurisdiction and venue in any action brought pursuant to this Agreement to enforce its terms or otherwise with respect to the relationships between the parties shall properly lie in either the United States District Court for the Southern District
of Ohio, Eastern Division, 

  
 12 

 
Columbus, Ohio, or the Court of Common Pleas of Franklin County, Ohio. Such jurisdiction and venue is exclusive, except that the Company may bring suit in any jurisdiction and venue where
jurisdiction and venue would otherwise be proper if you may have breached Sections 6, 7, or 8 of this Agreement. The parties further agree that the mailing by certified or registered mail, return receipt requested, of any process required by any
such court shall constitute valid and lawful service of process against them, without the necessity for service by any other means provided by statute or rule of court. 

11. Exit Interview. Prior to Employment Separation, you shall attend an exit interview if desired by the Company and
shall, in any event, inform the Company at the earliest possible time of the identity of your future employer and of the nature of your future employment.  

12. No Waiver. Any failure by the Company to enforce any provision of this Agreement shall not in any way affect the
Company’s right to enforce such provision or any other provision at a later time.  
 13. Saving. If any
provision of this Agreement is later found to be completely or partially unenforceable, the remaining part of that provision of any other provision of this Agreement shall still be valid and shall not in any way be affected by the finding. Moreover,
if any provision is for any reason held to be unreasonably broad as to time, duration, geographical scope, activity or subject, such provision shall be interpreted and enforced by limiting and reducing it to preserve enforceability to the maximum
extent permitted by law.  
 14. No Limitation. You acknowledge that your employment by the Company may be
terminated at any time by the Company or by you with or without cause in accordance with the terms of this Agreement. This Agreement is in addition to and not in place of other obligations of trust, confidence and ethical duty imposed on you by law.
 
 15. Governing Law. This Agreement shall be interpreted and enforced in accordance with the laws of the State
of Ohio without reference to its choice of law rules.  
 16. Final Agreement. With the exception of that certain
Employment Offer Letter by and between you and the Company, dated as of September 27, 2013, this Agreement replaces any existing agreement between you and the Company relating to the same subject matter and may be modified only by an agreement
in writing signed by both you and a duly authorized representative of the Company. 
 17. Further
Acknowledgments. YOU ACKNOWLEDGE THAT YOU HAVE RECEIVED A COPY OF THIS AGREEMENT, THAT YOU HAVE READ AND UNDERSTOOD THIS AGREEMENT, THAT YOU UNDERSTAND THIS AGREEMENT AFFECTS YOUR RIGHTS, AND THAT YOU HAVE ENTERED INTO THIS AGREEMENT
VOLUNTARILY.  
 18. Code Section 409A Compliance.  

(a) The intent of the parties is that payments and benefits under this Agreement comply with Code Section 409A and, accordingly, to the
maximum extent permitted, 

  
 13 

 
this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall be
made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the parties hereto of the applicable provision without violating the provisions of Code Section 409A. In no event
whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Executive by Code Section 409A or damages for failing to comply with Code Section 409A. 

(b) An “Employment Separation” shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the
payment of any amounts or benefits upon or following an Employment Separation unless such Employment Separation is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of
this Agreement, references to an Employment Separation or like terms shall mean “separation from service.” If the Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under
Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered deferred compensation under Code Section 409A payable on account of a “separation from service,” such payment or
benefit shall be made or provided at the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such “separation from service” of the Executive, and (ii) the date of the
Executive’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section (whether they would have otherwise been payable in a single sum or in installments in
the absence of such delay) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein.

 (c) All expenses or other reimbursements under this Agreement shall be made on or prior to the last day of the taxable year following the
taxable year in which such expenses were incurred by the Executive (provided that if any such reimbursements constitute taxable income to the Executive, such reimbursements shall be paid no later than March 15th of the calendar year following
the calendar year in which the expenses to be reimbursed were incurred), and no such reimbursement or expenses eligible for reimbursement in any taxable year shall in any way affect the expenses eligible for reimbursement in any other taxable year.

 (d) For purposes of Code Section 409A, the Executive’s right to receive any installment payments pursuant to this Agreement
shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty
(30) days”), the actual date of payment within the specified period shall be within the sole discretion of the Company. 
 (e) In
no event shall any payment under this Agreement that constitutes “deferred compensation” for purposes of Code Section 409A be offset by any other payment pursuant to this Agreement or otherwise.” 

  
 14 

 
			
	Commercial Vehicle Group, Inc.
		
	By:	 	/s/ Laura L. Macias
	Name:	 	Laura L. Macias
	Title:	 	Vice President, Chief Human Resources Officer
	
	EXECUTIVE:
	
	/s/ C. Timothy Trenary
	
	Executive Vice President and Chief Financial Officer

 EXHIBIT A 

GENERAL RELEASE 

I, C. Timothy Trenary, in consideration of and subject to the performance by Commercial Vehicle Group, Inc. (together with its subsidiaries,
the “Company”), of its obligations under the Change in Control Agreement dated as of January 23, 2014 (the “Agreement”), do hereby release and forever discharge as of the date hereof the Company and its
respective affiliates and all present, former and future managers, directors, officers, employees, successors and assigns of the Company and its affiliates and direct or indirect owners (collectively, the “Released Parties”)
to the extent provided below (this “General Release”). The Released Parties are intended to be third-party beneficiaries of this General Release, and this General Release may be enforced by each of them in accordance with the terms
hereof in respect of the rights granted to such Released Parties hereunder. Terms used herein but not otherwise defined shall have the meanings given to them in the Agreement. 

1. I understand that any payments or benefits paid or granted to me under Section 9 of the Agreement represent, in part, consideration for
signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive certain of the payments and benefits specified in Section 9 of the Agreement unless I execute
this General Release and do not revoke this General Release within the time period permitted hereafter. Such payments and benefits will not be considered compensation for purposes of any employee benefit plan, program, policy or arrangement
maintained or hereafter established by the Company or its affiliates. 
 2. Except as provided in paragraphs 4 and 5 below and except for the
provisions of the Agreement which expressly survive the termination of my employment with the Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever discharge the Company and the other
Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and
attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date that this General Release becomes effective and enforceable) and whether known or unknown, suspected, or claimed against the
Company or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators or assigns, may have, which arise out of or are connected with my employment with, or my separation or termination from, the Company (including,
but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers
Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act
of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; or their state or local counterparts; or under any other federal, state or local civil or human rights law, or 

  
 A-1 

 
under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising under any policies, practices or procedures of
the Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any claim for costs, fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing
collectively referred to herein as the “Claims”). 
 3. I represent that I have made no assignment or transfer of any right,
claim, demand, cause of action, or other matter covered by paragraph 2 above. 
 4. I agree that this General Release does not waive or
release any rights or claims that I may have under the Age Discrimination in Employment Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company in compliance
with the terms of the Agreement shall not serve as the basis for any claim or action (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). 

5. I agree that I hereby waive all rights to sue or obtain equitable, remedial or punitive relief from any or all Released Parties of any kind
whatsoever in respect of any Claim, including, without limitation, reinstatement, back pay, front pay, and any form of injunctive relief. Notwithstanding the above, I further acknowledge that I am not waiving and am not being required to waive any
right that cannot be waived under law, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that I disclaim and waive any right to share or participate
in any monetary award resulting from the prosecution of such charge or investigation or proceeding. Additionally, I am not waiving (i) any right or claim to any severance benefits or other benefits relating to termination of employment to which
I am entitled under the Agreement, (ii) any right or claim relating to directors’ and officers’ liability insurance coverage or any right of indemnification under the Company’s organizational documents or otherwise,
(iii) any right or claim as an equity or security holder in the Company or its affiliates, including, without limitation, any rights under any equity incentive or stock option grant or plan, (iv) any right or claim for reimbursement of
business expenses incurred prior to the employment termination date, and (v) any right or claim with respect to any vested benefits under any employee benefit plans, including without limitation any health, welfare, retirement, pension,
profit-sharing or deferred compensation plan. 
 6. In signing this General Release, I acknowledge and intend that it shall be effective as a
bar to each and every one of the Claims hereinabove mentioned or implied. I expressly consent that this General Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to
unknown and unsuspected Claims (notwithstanding any state or local statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims
hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the terms of the Agreement. I further agree that
in the event I should bring a Claim seeking damages against the Company, or in the event I should seek to recover against the Company in any Claim brought by a governmental agency on my behalf, this General Release shall serve as a complete defense
to such Claims to the maximum extent permitted by 

  
 A-2 

 
law. I further agree that I am not aware of any pending claim of the type described in paragraph 2 above as of the execution of this General Release. 

7. I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or construed at
any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct. 
 8. I agree that if I violate
this General Release by suing the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including reasonable attorneys’ fees. 

9. I agree that this General Release and the Agreement are confidential and agree not to disclose any information regarding the terms of this
General Release or the Agreement, except to my immediate family and any tax, legal or other counsel I have consulted regarding the meaning or effect hereof or as required by law, and I will instruct each of the foregoing not to disclose the same to
anyone; provided, however, if this General Release and/or the Agreement is or becomes publicly filed by the Company, or if the terms of this General Release and/or the Agreement is or becomes publicly disclosed by the Company, I shall have no
confidentiality obligation under this Section 9. 
 10. Any non-disclosure provision in this General Release does not prohibit or
restrict me (or my attorney) from responding to any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), any other
self-regulatory organization or any governmental entity. 
 11. I hereby acknowledge that certain provisions of the Agreement, including
Sections 6, 7, and 8 of the Agreement, shall survive my execution of this General Release in accordance with the terms of the Agreement. 

12. I represent that I am not aware of any claim by me other than the claims that are released by this General Release. I acknowledge that I
may hereafter discover claims or facts in addition to or different than those which I now know or believe to exist with respect to the subject matter of the release set forth in paragraph 2 above and which, if known or suspected at the time of
entering into this General Release, may have materially affected this General Release and my decision to enter into it. 
 13.
Notwithstanding anything in this General Release to the contrary, this General Release shall not relinquish, diminish, or in any way affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after
the date hereof. 
 14. Whenever possible, each provision of this General Release shall be interpreted in, such manner as to be effective and
valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not
affect any other provision or any other jurisdiction, but this General Release shall be reformed, 

  
 A-3 

 
construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 
  

	 	1.	I HAVE READ IT CAREFULLY; 

  

	 	2.	I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF
1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED; 

  

	 	3.	I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

  

	 	4.	I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION; 

 

	 	5.	I HAVE HAD AT LEAST [21][45] DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE TO CONSIDER IT, AND THE CHANGES MADE SINCE MY RECEIPT OF THIS RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST AND WILL NOT RESTART
THE REQUIRED [21][45]-DAY PERIOD; 

  

	 	6.	I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 

 

	 	7.	I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND 

 

	 	8.	I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 

 

									
	SIGNED:	  	  
	  		  	DATED:	  	  

  
 A-4

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