Document:

EX-10.2

 Exhibit 10.2 

EXECUTION COPY 
 VIA
ELECTRONIC MAIL 
 March 24, 2022 
 Sharon
Shacham, Ph.D., M.B.A. 
 Dear Sharon: 
 This letter agreement
confirms our agreement with respect to your planned separation from employment with Karyopharm Therapeutics Inc. (the “Company”). As we have discussed, the Company will continue to employ you through a Transition Period (as defined below),
pursuant to the terms and conditions set forth in this letter agreement. 
 Further, provided you (a) sign and return this letter agreement to me by
Monday, March 28 at 5 pm ET; (b) sign the Additional Release attached hereto as Attachment A on the Separation Date (as defined in paragraph 1) and do not timely revoke your acceptance, and (c) comply with the terms and
conditions set forth herein, the Company will provide you with the Severance Benefits set forth in paragraph 2 below. 
 Because both this letter agreement
and the Additional Release will become binding agreements between you and the Company, you are advised to consult with an attorney before signing this letter agreement and the Additional Release and you have been given a reasonable amount of time to
do so. If you sign and return the Additional Release on the Separation Date, you may change your mind and revoke your agreement during the seven (7) day period after you signed it (the “Revocation Period”) by notifying me in writing.

 Although your receipt of the Severance Benefits is expressly conditioned on you entering into this letter agreement and the Additional Release (and not
timely revoking the Additional Release), the following will apply regardless of such conditions: 
  

	 	•	 	 As of your last day of employment with the Company, all salary payments from the Company will cease and any
benefits you had as of the Separation Date under Company-provided benefit plans, programs, or practices will terminate, except as required by federal or state law. 

 

	 	•	 	 You will receive on the Separation Date payment for your final wages and any unused vacation time accrued through
the Separation Date. 

  

	 	•	 	 You will continue to be covered by your current health and dental plans through the last day of the month in
which your employment with the Company terminates, after which you may, if eligible, elect to continue receiving group medical insurance at your own cost pursuant to the “COBRA” law. Please consult the COBRA materials to be provided
by the Company under separate cover for details regarding these benefits. 

  

	 	•	 	 You are obligated to keep confidential and not to use or disclose any and all
non-public information concerning the Company that you acquired during the course of your employment with the Company, including any non-public information concerning
the Company’s assets, discovery or development programs, business affairs, business relationships, business prospects, and financial condition, except as otherwise permitted by paragraph 9 below. Further, you remain subject to your continuing
confidentiality, inventions assignment, non-competition, and non-solicitation obligations to the Company as set forth in the
Non-Disclosure and Inventions Assignment Agreement you previously executed for the benefit of the Company which remain in full force and effect. 

	 	•	 	 You will be awarded, pursuant to the Company’s 2013 Stock Incentive Plan, (a) an option to purchase
90,000 shares of the Company’s common stock with an exercise price per share equal to the greater of $10.33 (which was the closing price per share on February 28, 2022) and the closing price per share on the date of grant, such option to
vest as to 25% of the shares on February 28, 2023, with the remaining 75% vesting in 36 equal monthly installments thereafter, and (b) 60,000 restricted stock units (“RSUs”), which shall convert into shares of common stock on a one-for-one basis and which shall vest in four equal annual installments beginning February 28, 2023. Such award shall be subject to the terms and conditions set forth in
the applicable award agreement. 

  

	 	•	 	 You must return to the Company on the Separation Date all Company property once arrangements have been made with
the Company to remove all personal information contained on any electronic devices being returned and such information has been removed. 

If you elect to timely sign and return this letter agreement and the Additional Release (and do not timely revoke the Additional Release), the
following terms and conditions will also apply: 
 1. Transition Period — Should you sign and return this letter
agreement and comply with the terms herein, your effective date of separation from the Company will be May 31, 2022 (the “Separation Date”). During the period between the date of this letter agreement and the Separation Date (the
“Transition Period”), you will use your best efforts to perform such transition duties as are set forth in Attachment B to this letter agreement (the “Transition Duties”). During the Transition Period, you will continue to
receive your base salary (at the annualized rate of $519,901), less all applicable taxes and withholdings, as well as customary benefits. Notwithstanding any of the foregoing, both you and the Company retain the right to immediately terminate your
employment prior to the Separation Date. In the event that, prior to the Separation Date, the Company terminates your employment without Cause or you resign for Good Reason (each as defined in the April 28, 2021 Amended and Restated Employment
Agreement by and between you and the Company, hereinafter the “Employment Agreement”), you will remain eligible to receive the Severance Benefits described below, following your execution and
non-revocation of the Additional Release. In the event the Company terminates your employment for Cause or you resign from employment (other than for Good Reason) prior to the Separation Date (unless otherwise
agreed to by the Company in connection with such resignation), you will not be eligible to receive the Severance Benefits in whole or in part, nor will you receive any further salary payments, benefits, or other compensation from the Company
following your termination from employment. 
 2. Severance Benefits – If you timely sign and return this letter agreement
and the Additional Release and do not revoke your acceptance of the Additional Release, and further provided that the Company does not terminate your employment for Cause and you do not resign your employment with the Company other than for Good
Reason, each prior to the Separation Date, the Company will provide you with the following severance benefits (the “Severance Benefits”): 
  

	 	a.	 Severance Pay. The Company will pay to you $779,851.50, less all applicable taxes and withholdings, as
severance pay (an amount equivalent to eighteen (18) months of your 2021 base salary, inclusive of a 4% increase). This severance pay will be paid in installments in accordance with the Company’s regular payroll practices, but in no event
shall payments begin earlier than the Company’s first payroll date following expiration of the Revocation Period. 

  
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	 	b.	 COBRA Benefits. Should you timely elect and be eligible to continue receiving your current group health
insurance pursuant to the “COBRA” law, the Company will, until the earlier of (x) the date that is eighteen (18) months following the Separation Date, and (y) the date on which you obtain alternative coverage (as applicable,
the “COBRA Contribution Period”), pay 100% of the premiums for such coverage on the same terms and conditions you were receiving immediately prior to the Separation Date (including, without limitation, with respect to your Israeli health
insurance). All premium costs after the COBRA Continuation Period shall be paid by you on a monthly basis for as long as, and to the extent that, you remain eligible for COBRA continuation. You agree that, should you obtain alternative medical
and/or dental insurance coverage prior to the date that is eighteen (18) months following the Separation Date, you will so inform the Company in writing within five (5) business days of obtaining such coverage. 

 

	 	c.	 2022 Annual Bonus. You will be eligible to receive a prorated annual performance bonus for 2022, based
on your target bonus of 50% of your base salary of $519,901 per annum. Your performance bonus shall be prorated for the time you were employed by the Company during 2022. The exact bonus amount shall be based on the corporate performance multiplier
determined in the sole discretion of the Compensation Committee based on achievement of the Company’s performance goals and corporate milestones established by the Board. Any such bonus will be paid on or about the same date that such annual
bonuses are paid to other Company employees, but in no event later than March 15, 2023. 

  

	 	d.	 Consulting Agreement. The Company will enter into a consulting agreement with you in the form attached
hereto as Attachment C (the “Consulting Agreement”). During the Consultation Period set forth in the Consulting Agreement, you shall provide services to the Company as a consultant pursuant to the terms set forth therein.

  

	 	e.	 Equity Acceleration. Effective as of the Separation Date, the Remaining Equity Awards (as defined in the
Employment Agreement) shall tentatively vest. In addition, you will have until the earlier of (x) March 1, 2025, and (y) the expiration date of such options to exercise any outstanding vested stock options you may have, including,
without limitation, any stock options accelerated pursuant to this paragraph 1(e). The stock options for which vesting is accelerated by the first sentence of this paragraph 1(e) will only become fully vested and exercisable upon the expiration of
the Revocation Period. Any tax liability incurred by you on account of Restricted Stock Unit vesting shall the paid from the sale and proceeds of sufficient RSUs to defray such liability. In the event that you do not execute this letter agreement or
the Additional Release, or you timely revoke the Additional Release, your tentatively vested options will be forfeited retroactively to the Separation Date, and further, you will have until the date that is ninety (90) days after the Separation
Date to exercise any outstanding vested and fully exercisable stock options. 

 You will not be eligible for, nor shall you
have a right to receive, any payments or benefits following the Separation Date other than as set forth in this Paragraph. For the avoidance of doubt, the foregoing payment and benefits are intended to include and cover any and all mandatory
payments or entitlements in connection with your employment and termination thereof, under the laws of any applicable jurisdiction. 

  
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 3. Releases of Claims – In consideration of your continued employment
through the Transition Period and your eligibility to receive the Severance Benefits, which you acknowledge you would not otherwise be entitled to receive, you hereby fully, forever, irrevocably and unconditionally release, remise and discharge the
Company, its respective affiliates, subsidiaries, parent companies, predecessors, and successors, and all of their respective past and present officers, directors, stockholders, partners, members, employees, agents, representatives, plan
administrators, attorneys, insurers and fiduciaries (each in their individual and corporate capacities) (collectively, the “Released Parties”) from any and all claims, charges, complaints, demands, actions, causes of action, suits, rights,
debts, sums of money, costs, accounts, reckonings, covenants, contracts, agreements, promises, doings, omissions, damages, executions, obligations, liabilities, and expenses (including attorneys’ fees and costs), of every kind and nature that
you ever had or now have against any or all of the Released Parties, whether known or unknown, including, but not limited to, any and all claims arising out of or relating to your employment with and/or separation from the Company through the
effective date of this letter agreement, including, but not limited to, all claims under Title VII of the Civil Rights Act, the Americans With Disabilities Act, the Genetic Information Nondiscrimination Act, the Family and Medical Leave Act, the
Worker Adjustment and Retraining Notification Act, the Rehabilitation Act, Executive Order 11246, Executive Order 11141, the Fair Credit Reporting Act, and the Employee Retirement Income Security Act, all as amended; all claims arising out of the
Massachusetts Fair Employment Practices Act, Mass. Gen. Laws ch. 151B, § 1 et seq., the Massachusetts Wage Act, Mass. Gen. Laws ch. 149, § 148 et seq. (Massachusetts law regarding payment of wages and overtime),
the Massachusetts Civil Rights Act, Mass. Gen. Laws ch. 12, §§ 11H and 11I, the Massachusetts Equal Rights Act, Mass. Gen. Laws. ch. 93, § 102, Mass. Gen. Laws ch. 214, § 1C (Massachusetts right to be free from sexual harassment
law), the Massachusetts Labor and Industries Act, Mass. Gen. Laws ch. 149, § 1 et seq., Mass. Gen. Laws ch. 214, § 1B (Massachusetts right of privacy law), the Massachusetts Maternity Leave Act, Mass. Gen. Laws ch. 149,
§ 105D, and the Massachusetts Small Necessities Leave Act, Mass. Gen. Laws ch. 149, § 52D, all as amended; all common law claims including, but not limited to, actions in defamation, intentional infliction of emotional distress,
misrepresentation, fraud, wrongful discharge, and breach of contract; all state and federal whistleblower claims to the maximum extent permitted by law; and any claim or damage arising out of your employment with and/or separation from the Company
(including a claim for retaliation) under any common law theory or any federal, state or local statute or ordinance in any applicable jurisdiction not expressly referenced above; provided, however, that this release of claims does not prevent you
from filing a charge with, cooperating with, or participating in any investigation or proceeding before, the Equal Employment Opportunity Commission or a state fair employment practices agency (except that you acknowledge that you may not recover
any monetary benefits in connection with any such charge, investigation, or proceeding, and you further waive any rights or claims to any payment, benefit, attorneys’ fees or other remedial relief in connection with any such charge,
investigation or proceeding). Further, nothing herein shall release (i) any claims you may have for indemnification under the Company’s certificate of incorporation, by-laws, insurance
and/or any written agreement between you and the Company for director or officer indemnification (recognizing that any such indemnification shall be governed by the instrument, if any, providing for such indemnification), (ii) any rights you may
have to receive insurance payments under any policy maintained by the Company; (iii) any vested rights you may have as an equity holder or option holder, (iv) any rights you may have to receive retirement and
other benefits that are accrued and fully vested as of the Separation Date, or (v) any other claims that cannot be released as a matter of law. 

The Company hereby fully, forever, irrevocably and unconditionally releases, remises and discharges you from any and all claims through the
date of this letter agreement arising out of your employment by the Company; provided, however, that this release does not include any claims arising out of or related to any fraudulent, criminal, or willful misconduct by you. 

  
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 4. Continuing Obligations – You acknowledge and reaffirm
your confidentiality and non-disclosure obligations discussed on page 1 of this letter agreement, as well as the post-employment obligations set forth in the
Non-Disclosure and Inventions Assignment Agreement as amended herein, which survive your separation from employment with the Company. Sections 5.1(i) and (ii) of the
Non-Disclosure and Inventions Assignment Agreement is amended to read as follows: 
 (i) provide
services to, collaborate with, or become a partner, officer, director, employee, consultant, agent, independent contractor or stockholder of, any company or business organization engaged in the research, development, or commercialization of
therapeutics targeting Exportin 1 (XPO1); (ii) engage in any business activity related to products that are in any registration directed clinical trial or are approved for treatment of (a) endometrial cancer; (b) multiple myeloma;
(c) myelodysplastic syndromes; or (d) myelofibrosis; 
 5. Non-Disparagement
– You understand and agree that, following the Separation Date, to the extent permitted by law and except as otherwise permitted by paragraph 9 below, you will not, in public or private, make any false, disparaging, derogatory or defamatory
statements, online (including, without limitation, on any social media, networking, or employer review site) or otherwise, to any person or entity, including, but not limited to, any media outlet, industry group, financial institution or current or
former employee, board member, consultant, client or customer of the Company, regarding the Company or any of the other Released Parties, or regarding the Company’s assets, discovery or development programs, business affairs, business
relationships, business prospects, or financial condition. The Company agrees that, to the extent permitted by law and except as otherwise permitted by paragraph 9 below, it will not issue any statements that make any false, disparaging, derogatory
or defamatory statements regarding you, and further agrees to instruct in writing its officers and directors (and obtain written acknowledgment of such instruction) not to, in public or private, make any false, disparaging, derogatory or defamatory
statements online (including, without limitation, on any social media, networking, or employer review site) or otherwise, to any third party regarding you. Additionally, nothing herein shall be construed as requiring you to refrain, or requiring the
Company to instruct any individual to refrain, from making truthful disclosures in any litigation or arbitration. 
 6. Company
Affiliation – Notwithstanding anything to the contrary in the Employment Agreement, you agree that, effective immediately, you (i) will no longer serve as an observer to the Board and acknowledge that you are relinquishing all
rights and privileges in connection with such role as of such date; and (ii) shall only continue as a member of the Scientific Advisory Board to the extent and for so long as both you and the Company desire for you to remain in such role (i.e.,
either you or the Company may elect to terminate your services as a member of the Scientific Advisory Board at any time following the Separation Date. 

7. Return of Company Property – You confirm that, on the Separation Date, and except as agreed to in writing by the
CEO in accordance with your continued service to the Company as a consultant, you will have returned to the Company all keys, files, records (and copies thereof), equipment (including, but not limited to, computer hardware, software, printers, flash
drives and other storage devices, wireless handheld devices, cellular phones, tablets, etc.), Company identification, and any other Company owned property in your possession or control, and that you have, in coordination with the Company, deleted
all personal information on such property but left intact all, and have otherwise not destroyed, deleted, or made inaccessible to the Company any electronic Company documents, including, but not limited to, those that you developed or helped

  
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to develop during your employment, and that you have not (a) retained any copies in any form or media; (b) maintained access to any copies in any form, media, or location;
(c) stored any copies in any physical or electronic locations that are not readily accessible or not known to the Company or that remain accessible to you; or (d) sent, given, or made accessible any copies to any persons or entities that
the Company has not authorized to receive such electronic or hard copies. You further confirm that you have cancelled all accounts for your benefit, if any, in the Company names, including but not limited to, credit cards, telephone charge cards,
cellular phone accounts, and computer accounts. 
 8. Confidentiality – You understand and agree that, to the extent
permitted by law and except as otherwise permitted by paragraph 9 below, the contents of the negotiations and discussions resulting in this letter agreement shall be maintained as confidential by you and your agents and representatives and shall not
be disclosed except as otherwise agreed to in writing by the Company. 
 9. Scope of Disclosure Restrictions – Nothing in
this letter agreement prohibits you or the Company from communicating with government agencies about possible violations of federal, state, or local laws or otherwise providing information to government agencies or participating in government agency
investigations or proceedings. Neither you nor the Company are required to notify the other of any such communications; provided, however, that nothing herein authorizes the disclosure of information you obtained through a communication that was
subject to the attorney-client privilege. Further, notwithstanding your confidentiality and nondisclosure obligations, you are hereby advised as follows pursuant to the Defend Trade Secrets Act: “An individual shall not be held criminally or
civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and
(ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a
lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any
document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.” 

10. Cooperation – You agree that, to the extent permitted by law, you shall cooperate to a reasonable extent
with the Company in the investigation, defense or prosecution of any claims or actions which already have been brought, are currently pending, or which may be brought in the future against the Company by a third party or by or on behalf of the
Company against any third party, whether before a state or federal court, any state or federal government agency, or a mediator or arbitrator. Your full cooperation in connection with such claims or actions shall include, but not be limited to,
being available to meet with the Company’s counsel, at reasonable times and locations designated by the Company, to investigate or prepare the Company’s claims or defenses, to prepare for trial or discovery or an administrative hearing,
mediation, arbitration, or other proceeding and to act as a witness when requested by the Company. You further agree that, to the extent permitted by law, you will notify the Company promptly in the event that you are served with a subpoena
(other than a subpoena issued by a government agency), or in the event that you are asked to provide a third party (other than a government agency) with information concerning any actual or potential complaint or claim against the Company.
For time reasonably expended in fulfilling your obligations under this paragraph either (a) in excess of 20 hours or (b) that occurs after the eighteen (18) month severance period, you will be compensated at the rate of $750 per hour,
except that you will not be compensated for time spent preparing for your testimony as a witness or testifying in any legal proceeding. The Company will reimburse you for any reasonable
out-of-pocket travel, food, and lodging expenses incurred on account of your obligations herein, as well as reasonable attorneys’ fees and costs. 

  
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 11. Amendment and Waiver – This letter agreement shall be binding
upon the parties and may not be modified in any manner, except by an instrument in writing of concurrent or subsequent date signed by duly authorized representatives of the parties hereto. This letter agreement is binding upon and shall inure to the
benefit of the parties and their respective agents, assigns, heirs, executors, successors, and administrators. No delay or omission by the Company in exercising any right under this letter agreement shall operate as a waiver of that or any other
right. A waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar to or waiver of any right on any other occasion. 

12. Validity – Should any provision of this letter agreement or the Additional Release be declared or be determined by any
court of competent jurisdiction to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall be deemed not to be a part of this letter
agreement or the Additional Release. 
 13. Nature of Agreement – You understand and agree that this letter
agreement, including the Additional Release, is a severance agreement and does not constitute an admission of liability or wrongdoing on the part of the Company. 

14. Acknowledgments and Voluntary Assent – You acknowledge that you have been given a reasonable amount of time to
review this letter agreement and the Additional Release and that the Company is hereby advising you to consult with an attorney of your own choosing prior to signing it. You affirm that no other promises or agreements of any kind have been made to
or with you by any person or entity whatsoever to cause you to sign either this letter agreement or the Additional Release, and that you fully understand the meaning and intent of each. You further state and represent that you have carefully read
this letter agreement and the Additional Release, understand the contents herein, freely and voluntarily assent to all of the terms and conditions hereof, and sign your name of your own free act. 

15. Applicable Law – This letter agreement and the Additional Release shall be interpreted and construed by the laws of the
Commonwealth of Massachusetts, without regard to conflict of laws provisions. You and the Company agree that, in addition to the matters already subject to mandatory arbitration pursuant to Section 8 of your Employment Agreement (which
agreement to arbitrate remains in full force and effect), any controversy, dispute or claim directly or indirectly arising out of or relating to this letter agreement or the breach thereof shall be resolved through binding arbitration in accordance
with and subject to the arbitration procedures set forth in Section 8 of your Employment Agreement. 
 16. Entire
Agreement – This letter agreement, including the Additional Release and all applicable documents referenced herein, contains and constitutes the entire understanding and agreement between the parties hereto with respect to your
Severance Benefits and the settlement of claims against the Company and cancels all previous oral and written negotiations, agreements, and commitments in connection therewith.  

17. Tax Acknowledgement – In connection with the Severance Benefits provided to you pursuant to this letter agreement, the
Company shall withhold and remit to the tax authorities the amounts required under applicable law, and you shall be responsible for all applicable taxes with respect to such Severance Benefits under applicable law. You acknowledge that you are not
relying upon the advice or representation of the Company with respect to the tax treatment of any of the Severance Benefits set forth in paragraph 2 of this letter agreement. 

[REMAINDER OF PAGE INTENTIONALLY BLANK] 

  
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	Very truly yours,
		
	By:	 	 /s/ Richard Paulson

		 	Richard Paulson, M.B.A.
		 	President and Chief Executive Officer

 I hereby agree to the terms and conditions set forth above. 

 

					
	 /s/ Sharon Shacham

Sharon Shacham, Ph.D., M.B.A.
	 	
                          
          
 
	  	 March 28, 2022

Date

 To be returned in a timely manner as set forth on the first page of this letter agreement. 

  
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 ATTACHMENT A 

ADDITIONAL RELEASE 
 1.
Release—In consideration of the Severance Benefits set forth in the letter agreement to which this Additional Release of Claims (the “Additional Release”) is attached, which you acknowledge you would not otherwise be
entitled to receive, you hereby fully, forever, irrevocably and unconditionally release, remise and discharge the Company, its affiliates, subsidiaries, parent companies, predecessors, and successors, and all of their respective past and present
officers, directors, stockholders, partners, members, employees, agents, representatives, plan administrators, attorneys, insurers and fiduciaries (each in their individual and corporate capacities) (collectively, the “Released Parties”)
from any and all claims, charges, complaints, demands, actions, causes of action, suits, rights, debts, sums of money, costs, accounts, reckonings, covenants, contracts, agreements, promises, doings, omissions, damages, executions, obligations,
liabilities, and expenses (including attorneys’ fees and costs), of every kind and nature that you ever had or now have against any or all of the Released Parties, including, but not limited to, any and all claims arising out of or relating to
your employment with and/or separation from the Company through the Separation Date, including, but not limited to, all claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., the Americans With
Disabilities Act of 1990, 42 U.S.C. § 12101 et seq., the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., the Genetic Information Nondiscrimination Act of 2008, 42 U.S.C. § 2000ff et
seq., the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq., the Worker Adjustment and Retraining Notification Act (“WARN”), 29 U.S.C. § 2101 et seq., the Rehabilitation Act of 1973, 29
U.S.C. § 701 et seq., Executive Order 11246, Executive Order 11141, the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., and the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C.
§ 1001 et seq., all as amended; all claims arising out of the Massachusetts Fair Employment Practices Act, Mass. Gen. Laws ch. 151B, § 1 et seq., the Massachusetts Wage Act, Mass. Gen. Laws ch. 149, § 148
et seq. (Massachusetts law regarding payment of wages and overtime), the Massachusetts Civil Rights Act, Mass. Gen. Laws ch. 12, §§ 11H and 11I, the Massachusetts Equal Rights Act, Mass. Gen. Laws. ch. 93, § 102, Mass.
Gen. Laws ch. 214, § 1C (Massachusetts right to be free from sexual harassment law), the Massachusetts Labor and Industries Act, Mass. Gen. Laws ch. 149, § 1 et seq., Mass. Gen. Laws ch. 214, § 1B (Massachusetts right of
privacy law), the Massachusetts Maternity Leave Act, Mass. Gen. Laws ch. 149, § 105D, and the Massachusetts Small Necessities Leave Act, Mass. Gen. Laws ch. 149, § 52D, all as amended; all common law claims including, but not
limited to, actions in defamation, intentional infliction of emotional distress, misrepresentation, fraud, wrongful discharge, and breach of contract; all claims to any non-vested ownership interest in the
Company, contractual or otherwise; all state and federal whistleblower claims to the maximum extent permitted by law; and any claim or damage arising out of your employment with and/or separation from the Company (including a claim for retaliation)
under any common law theory or any federal, state or local statute or ordinance in any applicable jurisdiction not expressly referenced above; provided, however, that this release of claims does not prevent you from filing a charge with,
cooperating with, or participating in any investigation or proceeding before, the Equal Employment Opportunity Commission or a state fair employment practices agency (except that you acknowledge that you may not recover any monetary benefits in
connection with any such charge, investigation, or proceeding, and you further waive any rights or claims to any payment, benefit, attorneys’ fees or other remedial relief in connection with any such charge, investigation or proceeding).

 The Company hereby fully, forever, irrevocably and unconditionally releases, remises and discharges you from any and all claims through the Separation
Date arising out of your employment; provided, however, that this release does not include any claims arising out of or related to any fraudulent, criminal, or willful misconduct by you. 

 2. Business Expenses and Final Compensation – You acknowledge that you have been
reimbursed by the Company for all business expenses incurred in conjunction with the performance of your employment and that no other reimbursements are owed to you. You further acknowledge that you have received payment in full for all services
rendered in conjunction with your employment by the Company, including payment for all wages, commissions, bonuses, and accrued, unused vacation time, and that no other compensation is owed to you except as provided in the letter agreement to which
this Additional Release is attached. For the avoidance of doubt, you also acknowledge that the payments contemplated herein are intended to include and cover any and all mandatory payments or entitlements in connection with your employment and
termination thereof, under the laws of any applicable jurisdiction. 
 3. Acknowledgments – You acknowledge that you have been
given at least twenty-one (21) days to consider this Additional Release, and that the Company is hereby advising you to consult with an attorney of your own choosing prior to signing this letter
agreement. You understand that you may revoke this Additional Release for a period of seven (7) days after you sign it by notifying me in writing, and the Additional Release shall not be effective or enforceable until the expiration of this
seven (7) day revocation period. You understand and agree that by entering into this letter agreement, you are waiving any and all rights or claims you might have under the Age Discrimination in Employment Act, as amended by the Older Workers
Benefit Protection Act, and that you have received consideration beyond that to which you were previously entitled. 
 4. Voluntary Assent
— You affirm that no other promises or agreements of any kind have been made to or with you by any person or entity whatsoever to cause you to sign this, and that you fully understand the meaning and intent of this Additional Release. You state
and represent that you have had an opportunity to fully discuss and review the terms of this Additional Release with an attorney. You further state and represent that you have carefully read this Additional Release, understand the contents herein,
freely and voluntarily assent to all of the terms and conditions hereof, and sign your name of your own free act. 
 I hereby agree to the terms and
conditions set forth above. I have been given at least twenty-one (21) days to consider this Additional Release and I have chosen to execute this on the date below. I intend that this Additional Release
will become a binding agreement between me and the Company if I do not revoke my acceptance in seven (7) days. 
  

					
	  
 Sharon Shacham, Ph.D.,
M.B.A.
	 		  	  
 Date

 To be returned on, but not before, the Separation Date. 

  
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 ATTACHMENT B 

TRANSITION DUTIES 
  

	 	•	 	 Transition of responsibilities to R&D leadership. 

 

	 	•	 	 Assistance with the EMA marketing approval application for the selinexor in multiple myeloma based on BOSTON
trial 

  

	 	•	 	 Assistance in design of SIENDO Part II trial 

 

	 	•	 	 Advice with respect to trial design and regulatory strategy for eltanexor in MDS 

 

	 	•	 	 Assist R&D team to prepare for next SAB meeting 

 ATTACHMENT C 

CONSULTING AGREEMENT 
 This
Consulting Agreement (the “Agreement”), effective as of the Effective Date (as defined herein), is entered into between Karyopharm Therapeutics Inc. (the “Company”) and Dr. Sharon Shacham (the
“Consultant”). The Consultant and the Company are referred to in this Agreement individually as a “Party” and collectively as the “Parties”. 

WHEREAS, the Company wishes to engage the Consultant to provide certain advisory and other consulting services to the Company as of June 1, 2022
(the “Commencement Date”), and the Consultant wishes to provide such services to the Company, in each case subject to the terms and conditions of this Agreement. 

WHEREAS, the parties acknowledge that prior to the Commencement Date, Consultant was employed as an employee of the Company, and in the context of the
agreements and arrangements regarding her separation from the Company, it was agreed that she would continue to provide certain residual services as an independent contractor, including but not limited to service on the Scientific Advisory Board;

 WHEREAS, this Agreement is entered into in reliance upon Consultant’s representations and undertakings that the Services are provided solely on an
independent contractor basis and that Consultant does not and shall not have any claim or demand relating to the existence of an employment relationship between Consultant and the Company from the Commencement Date. 

NOW, THEREFORE, in consideration of the foregoing, and of the mutual covenants set forth in this Agreement, the Parties agree as follows: 

 

	1.	 Engagement and Performance of Services. The Company hereby engages the Consultant to perform consulting
services as requested by the Company’s Chief Executive Officer (the “Services”). The Consultant is expected to devote no more than five (5) hours per week to perform the Services. The Consultant shall perform the Services
remotely unless the circumstances specifically require that the Consultant be present at the Company’s facilities, or at other locations as mutually agreed upon by the Parties. In performing the Services, the Consultant shall comply with all
applicable laws and regulations and shall perform Services in a manner that is consistent with relevant industry and professional standards. 

  

	2.	 Consideration. In full consideration of the Services performed and rights granted by the Consultant
under this Agreement, and for so long as the Consultant provides Services to the Company pursuant to this Agreement, the Company shall pay to the Consultant a consulting stipend at the beginning of each month representing an amount equivalent to
payment for 15 hours of work at the rate of $750 per hour worked. To the extent work completed exceeds 15 hours in a month, then such additional work shall be paid on an hourly basis of $750 per hour, payable in arrears on the last day of each
month. In addition, for so long as the Consultant provides Services to the Company pursuant to this Agreement, any and all outstanding and unvested equity awards granted to the Consultant by the Company will continue to vest and be exercisable in
accordance with the applicable equity plans and award agreement. 

	3.	 Relationship of Parties. The Consultant shall perform the Services as an “independent
contractor” and not as an employee or agent of the Company. The Consultant acknowledges, agrees and undertakes that her employment with the Company has been terminated and that to the provision of the Services to the Company hereunder shall be
in the capacity of an independent contractor and not as an employee; that the Consultant will not be deemed for any purpose to be continuing employment from the Commencement Date, including without limitation for accrual of rights and seniority as
an employee and that no employment relationship shall exist between the Company and the Consultant; and that the Company’s willingness and agreement to engage the Consultant as an independent contractor is expressly and directly contingent upon
the Consultant’s irrevocable agreement to the provisions of this Section 3. The Consultant is not authorized to assume or create any obligation or responsibility, express or implied, on behalf of, or in the name of, the Company or to bind
the Company in any manner. The Consultant shall not be entitled to any benefits, coverage or privileges, including, without limitation, social security, unemployment, medical or pension payments, made available to employees of the Company; provided,
however, and for the avoidance of doubt, that the foregoing shall not restrict the Consultant from receiving any Severance Benefits as defined in and pursuant to the Transition Agreement by and between her and the Company (the “Transition
Agreement”). The Consultant will be fully responsible for all taxes, contributions and insurance coverage applicable to the Consultant, other than as described in the Transition Agreement. 

 

	4.	 Non-Disclosure, Inventions Assignment, Non-Competition, and Non-Solicitation Obligations. 

  

	 	(a)	 The Consultant acknowledges and reaffirms the obligations set forth in the October 22, 2010 Nondisclosure
and Inventions Assignment Agreement by and between the Consultant and the Company (the “Restrictive Covenant Agreement”), as amended by the Transition Agreement. For purposes of the Restrictive Covenant Agreement, the Parties
acknowledge and agree that the Business Relationship between the Parties will, except as expressly referenced in the Transition Agreement, continue for the term of this Agreement and the Consultant’s obligations pursuant to the Restrictive
Covenant Agreement will continue for the duration of such Business Relationship, and as applicable, for twelve (12) months thereafter. 

  

	 	(b)	 Scope of Disclosure Restrictions. Nothing in this Agreement or elsewhere prohibits either Party from
communicating with government agencies about possible violations of federal, state, or local laws or otherwise providing information to government agencies or participating in government agency investigations or proceedings. Neither Party is
required to notify the other Party of any such communications; provided, however, that nothing herein authorizes the disclosure of information one Party obtained through a communication that was subject to the attorney-client privilege. Further,
notwithstanding the Consultant’s confidentiality and nondisclosure obligations, the Consultant is hereby advised as follows pursuant to the Defend Trade Secrets Act: “An individual shall not be held criminally or civilly liable under any
Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the
purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by
an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade
secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.” 

  
 - 2 - 

	5.	 Use of Third Party Facilities or Property. Except as the Company may otherwise consent in writing, the
Consultant agrees not to make any use of any funds, space, personnel, facilities, equipment, employees or other resources of a third party, in performing the Services, nor to take any other action that would result in a third party owning or having
a right in the results of the Services or the Inventions. Without limiting the foregoing, the Consultant agrees that it will not utilize in the performance of any Services or incorporate into any deliverables or materials provided to the Company:
(i) any confidential information of the Consultant or any third party; or (ii) any technology, materials, know-how or inventions, covered by proprietary rights of the Consultant or any third party,
except as the Consultant is freely permitted to do without further compensation by the Company to the Consultant or any third party. In the event the Consultant incorporates any proprietary know-how,
materials, inventions or technology of the Consultant into any Inventions or deliverables or other results of Services, the Consultant hereby grants to the Company a perpetual, irrevocable, non-exclusive,
worldwide, royalty-free, fully paid-up license (with a right to grant sublicenses) under the Consultant’s intellectual property rights in such know-how, materials,
inventions or technology solely to the extent necessary for the Company to utilize the Inventions or deliverables or other results of Services for any purpose. 

 

	6.	 Record Retention and Storage. In no event shall the Consultant dispose of any records or files generated
by the Consultant in the course of providing Services (the “Records”) without first giving the Company sixty (60) days’ prior written notice of the Consultant’s intent to do so and an opportunity to have the Records
transferred to the Company. Notwithstanding anything in this Section 6 to the contrary, the Consultant may retain copies of the Records to the extent necessary for compliance with applicable law or regulatory requirements, subject to the
Consultant’s continuing obligations of confidentiality and restrictions on use under this Agreement, and the Company’s right to access such retained Records, and have copies made upon reasonable notice to the Consultant.

  

	7.	 Representation, Warranties and Covenants. 

 

	 	(a)	 No Conflict. The Consultant represents that, except as the Consultant has disclosed in writing to the
Company, the Consultant is not bound by the terms of any agreement with any employer or other party which are inconsistent with the provisions of this Agreement. The Consultant further represents that the Consultant’s performance of the
Services, and the grant of rights specified in this Agreement, do not and will not conflict with, or breach any, agreement with any prior or existing employer or other entity (including without limitation any nondisclosure or non-competition agreement), and that the Consultant will not disclose to the Company or induce the Company to use any confidential or proprietary information or material belonging to any employer or others unless
the Consultant has a license to use such information and materials and to allow the Company to use such information and materials. 

  

	 	(b)	 No Debarment. The Consultant has not been, and is not under consideration to be, excluded, suspended,
debarred or otherwise declared ineligible to participate in federal healthcare programs, federal procurement or non-procurement programs, or from any other activities or programs related to the Services
contemplated by this Agreement, including debarment under the provisions of the Generic Drug Enforcement Act of 1992, as amended from time to time. 

  

	 	(c)	 No Use of Name. Unless the Company otherwise consents in writing, the Consultant shall not disclose to a
third party the terms of this Agreement or the nature of the Services being provided to the Company; provided, however, Executive may provide the Consulting Agreement and the Restrictive Covenant Agreement to a prospective future employer. Neither
Party may use the other Party’s name in any form of advertising or promotion, including press releases, without the prior written consent of the other Party, 

  
 - 3 - 

	 	
except the Company may disclose that it has engaged the Services of the Consultant and may describe the nature of the Services. The provisions of this Section 7(c) shall not restrict a
Party’s ability to use the other Party’s name in filings with the Securities and Exchange Commission, the United States Food and Drug Administration, or other governmental agencies, when required by applicable law or regulation to do so.

  

	 	(d)	 Not Employment Contract. The Consultant acknowledges that the Consultant is not an employee of the
Company, that this Agreement does not constitute a contract of employment and does not imply that the Company will continue this Agreement in effect for any period of time beyond its terms. 

 

	8.	 Consultation Period; Termination. 

 

	 	(a)	 Consultation Period. The term of this Agreement shall commence on the date following the
Consultant’s separation from employment with the Company (such that there shall be no gap in the Consultant’s business relationship with the Company) (the “Effective Date”) and shall continue in effect until May 31,
2023, unless earlier terminated (x) at any time upon the mutual written consent of the parties hereto or (y) by either Party as set forth in Section 8(b) below (the “Consultation Period”). For the avoidance of doubt,
however, the Consultation Period shall not commence, and this Agreement shall be null and void, if, as specified in the Consultant’s March 28, 2022 Transition Agreement with the Company, the Consultant’s employment with the Company is
terminated prior to the Separation Date (as defined therein) either (x) by the Consultant without Good Reason (as defined therein) or (y) by the Company for Cause (as defined therein). 

 

	 	(b)	 Termination. Either the Consultant or the Company may terminate this Agreement upon thirty
(30) days’ prior written notice to other Party. In addition, either Party may terminate this Agreement upon fifteen (15) days’ prior written notice to the other Party if such other Party has materially breached this Agreement and
fails to cure the breach within sixty (60) days of notice being effectively given pursuant to Section 9 hereof. In the event of termination by either Party as permitted under this Agreement, the Company shall direct the Consultant as to
whether the Consultant shall stop performing the Services immediately or shall continue such performance for all or part of the applicable notice period. 

  

	 	(c)	 Survival. The termination or expiration of this Agreement shall not affect the rights or obligations
which have accrued prior to the effective date of such termination or expiration. Sections 4, 6, 7(c), 8, and 12 of this Agreement shall survive any termination or expiration of this Agreement. 

 

	 	(d)	 Facilities. During the Consultation Period, the Consultant shall have use of the Israeli office, office
equipment, and support services, each to the extent necessary to perform the Services hereunder. 

  

	9.	 Notice. All notices required or permitted under this Agreement will be in writing. Notices shall be
given by: (a) delivery in person; (b) by first class mail with confirmation of delivery, or overnight courier with confirmation of delivery, to the address for the recipient set forth on the signature page of this Agreement or at such
other address as the recipient may specify in writing under this procedure; or (c) by email with confirmation of read receipt. Notices will be deemed to have been given (i) three (3) business days after deposit in the U.S. mail with proper
postage for first class registered or certified mail prepaid, return receipt requested; (ii) one (1) business day after being sent by a nationally recognized courier service for next day delivery; or (iii) confirmation of read receipt of
email. In case of email Notice, if confirmation of read receipt is not returned, notices must be sent by overnight courier. Notices to the Company must be marked “Attention: Chief Executive Officer” with a copy to the Chief Human Resources
Officer. 

  
 - 4 - 

	10.	 Assignment; No Subcontracting. This Agreement shall be binding upon and inure to the benefit of the
Parties and their respective successors and permitted assigns. The Consultant may not assign, subcontract or delegate any of the Consultant’s rights or obligations under this Agreement without the prior written consent of the Company. The
Company may assign this Agreement to any of its affiliates or to any successor by law or by merger, acquisition or sale of assets, provided that any such assignee shall assume all obligations of the Company under this Agreement.

  

	11.	 Severability. Each and every provision set forth in this Agreement is independent and severable from the
others, and no provision will be rendered unenforceable by virtue of the fact that, for any reason, any other provision may be invalid or unenforceable in whole or in part. If any provision of this Agreement is invalid or unenforceable for any
reason whatsoever, that provision will be appropriately limited and reformed to the maximum extent provided by applicable law. If the scope of any restriction contained herein is too broad to permit enforcement to its full extent, then such
restriction will be enforced to the maximum extent permitted by law so as to be judged reasonable and enforceable. If, as a result of the unenforceability of a provision or any limitation on enforceability, the intent of the parties in entering into
this Agreement is materially affected, the parties will negotiate in good faith to amend this Agreement to as close as possible implement the original intent of the parties. 

 

	12.	 Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the
State of Delaware, without reference to the state’s conflict-of-laws principles. 

 

	13.	 Entire Agreement. This Agreement constitutes the entire agreement between the Parties pertaining to its
subject matter; provided, however, that this Agreement does not supersede any obligation by any individual who was formerly employed by the Company. For clarification, but not limitation, this means that if there is a conflict between
Sections 4, 5, or 6 of this Agreement, on the one hand, and any agreement regarding confidentiality, inventions assignment, non-solicitation, and/or non-competition
obligations for a former employee of the Company, including, without limitation, the Restricted Covenant Agreement, such conflict will be resolved in the manner most protective of the Company. 

 

	14.	 Waivers. No delay or omission by a Party in exercising any right under this Agreement will operate as a
waiver of that or any other right. A waiver or consent given by a Party will be effective only if contained in a written document signed by such Party. A waiver or consent given by a Party on any one occasion is effective only in that instance and
will not be construed as a bar to or waiver of any right on any other occasion. 

  

	15.	 Amendments. No amendment of this Agreement shall be binding unless executed in writing by both Parties.

 [Signature Page Follows] 

  
 - 5 - 

 IN WITNESS WHEREOF, the Company and the Consultant have caused this Agreement to be executed by their
duly authorized representatives as of the Effective Date. 
  

									
	KARYOPHARM THERAPEUTICS INC.	  	                            	  	CONSULTANT:
					
	By:	  	 /s/ Richard Paulson
	  		  	By:	  	 /s/ Sharon Shacham

	Name:	  	Richard Paulson, M.B.A.	  		  	Name:	  	Sharon Shacham, Ph.D., M.B.A.
	Title:	  	President and Chief Executive Officer	  		  		  	

  
 - 6 -Exhibit 4.2

   

  EXECUTION VERSION

  	 

   

  BRUNSWICK CORPORATION

   

  and

   

  U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,

  as Trustee

   

  
  
     

  

  
   

  FIFTH SUPPLEMENTAL INDENTURE

   

  Dated as of March 29, 2022

   

  to

   

  INDENTURE

   

  Dated as of October 3, 2018

   

  
  
     

  

  
   

  4.400% Senior Notes due 2032

    5.100% Senior Notes due 2052

  	 

   

  
     

    
      

    

  

   

  TABLE OF CONTENTS

   

  Page

  	ARTICLE I

          

          Definitions
	SECTION 1.01. 	Definition of Terms	2
	ARTICLE II

          

          General Terms and Conditions of the Notes
	SECTION 2.01.	Designation and Principal Amount	3
	SECTION 2.02.	Further Issues	3
	SECTION 2.03.	Maturity	3
	SECTION 2.04.	Interest	3
	SECTION 2.05.	Method and Place of Payment	4
	SECTION 2.06. 	Optional Redemption	4
	SECTION 2.07. 	Mandatory Redemption; Offers to Purchase; Open Market Purchases	6
	SECTION 2.08. 	Appointment of Agents	7
	SECTION 2.09. 	Global Securities	7
	SECTION 2.10. 	Change of Control	7
	SECTION 2.11. 	Defeasance	10
	SECTION 2.12. 	Covenants	10
	ARTICLE III 

          

          Form of Notes
	SECTION 3.01. 	Registration and Form of Notes; Denomination	10
	ARTICLE IV

          

          Miscellaneous
	SECTION 4.01. 	Ratification of Indenture	10
	SECTION 4.02. 	Trustee Not Responsible for Recitals, etc	10
	SECTION 4.03. 	Governing Law; Waiver of Jury Trial	11
	SECTION 4.04. 	Separability	11
	SECTION 4.05. 	Execution in Counterparts	11

   

  	EXHIBIT A 	Form of 2032 Notes

  	EXHIBIT B 	Form of 2052 Notes

   

  
     

    
      

    

  

   

  FIFTH
      SUPPLEMENTAL INDENTURE, dated as of March 29, 2022 (this “Supplemental Indenture”), between BRUNSWICK
    CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (the “Company”),
    and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, as successor in interest to U.S. Bank National
    Association, as trustee (the “Trustee”), under the Indenture (as defined below).

   

  RECITALS

   

  WHEREAS, the Company executed and delivered
    the indenture, dated as of October 3, 2018, between the Company and the Trustee (the “Indenture”) to provide
    for the issuance from time to time of its debt securities (the “Securities”), to be issued in one or more series;

   

  WHEREAS, pursuant to the terms of the Indenture,
    the Company desires to provide for the establishment of two new series of Securities under the Indenture to be known respectively
    as its “4.400% Senior Notes due September 15, 2032” (the “2032 Notes”) and its “5.100% Senior
    Notes due April 1, 2052” (the “2052 Notes” and, together with the 2032 Notes, the “Notes”),
    the form and substance of each such series and the terms, provisions and conditions thereof to be set forth as provided in the
    Indenture and this Supplemental Indenture;

   

  WHEREAS, the Board of Directors of the Company,
    pursuant to (i) the resolutions duly adopted on March 16, 2022, and (ii) the delegation of authority policy and related resolutions
    duly adopted on October 23, 2002, and as subsequently amended and approved on July 26, 2005, May 6, 2009 and December 4, 2018,
    has duly authorized the issuance of the Notes, and has authorized the proper officers of the Company to execute any and all appropriate
    documents necessary or appropriate to effect such issuance;

   

  WHEREAS, this Supplemental Indenture is being
    entered into pursuant to the provisions of Sections 2.01, 2.02 and 11.01(i) of the Indenture;

   

  WHEREAS, the Company has requested that the
    Trustee execute and deliver this Supplemental Indenture;

   

  AND WHEREAS, all acts and things necessary
    to make this Supplemental Indenture a valid agreement according to its terms, and to make the Notes, when executed by the Company
    and authenticated and delivered by the Trustee, the valid obligations of the Company, have been done and performed, and the execution
    of this Supplemental Indenture and the issue hereunder of the Notes has been duly authorized in all respects;

   

  NOW, THEREFORE, in consideration of the premises
    and the purchase of the Notes by the Holders thereof, and for the purpose of setting forth, as provided in the Indenture, the forms
    and terms of the Notes, the Company covenants and agrees with the Trustee, as follows:

   

  
     

    
      

    

  

   

  2

   

  ARTICLE I

   

  Definitions

   

  SECTION 1.01. Definition of Terms.
    Unless the context otherwise requires:

   

  (a)           subject to clause (i) below, each term defined in the Indenture has the
    same meaning when used in this Supplemental Indenture;

   

  (b)          
    a term has the meaning assigned to it;

   

  (c)          
    an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

   

  (d)          
    “or” is not exclusive;

   

  (e)          
    words in the singular include the plural, and in the plural include the singular;

   

  (f)           
    references to sections of or rules under the Securities Act or the Exchange Act shall be deemed to include substitute, replacement
    or successor sections or rules adopted by the Commission from time to time;

   

  (g)          
    unless the context otherwise requires, any reference to an “Article” or a “Section” refers to an
    Article or a Section, as the case may be, of this Supplemental Indenture;

   

  (h)          
    the words “herein,” “hereof” and “hereunder” and other words of similar import refer
    to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; and

   

  (i)           
    the following definition is used in this Supplemental Indenture, and to the extent that a term is defined both herein and
    in the Indenture, the definition in the Supplemental Indenture shall govern with respect to the Notes:

   

  “GAAP” means
    generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles
    Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards
    Board or in such other statements by such other entity as may be approved by a significant segment of the accounting profession
    of the United States, as in effect from time to time. Notwithstanding any changes in GAAP that became or become effective for the
    Company after October 3, 2018, any lease of the Company or any Subsidiary that would be characterized as an operating lease under
    GAAP in effect for the Company as of October 3, 2018, whether such lease is entered into before or after October 3, 2018, shall
    not constitute Indebtedness or a Capitalized Lease Obligation.

   

  
     

    
      

    

  

   

  3

  ARTICLE II

   

  General
      Terms and Conditions of the Notes

   

  SECTION 2.01. Designation and Principal
      Amount. There are hereby authorized and established two series of Securities under the Indenture, respectively designated as
    the “4.400% Senior Notes due 2032” and the “5.100% Senior Notes due 2052,” each unlimited in aggregate
    principal amount. The aggregate principal amount of the 2032 Notes to be initially issued shall be $450,000,000, and the aggregate
    principal amount of the 2052 Notes to be initially issued shall be $300,000,000. Additional Notes of either series may be issued
    pursuant to Section 2.02 hereof.

   

  SECTION 2.02. Further Issues. So long
    as no Default or Event of Default shall have occurred and be continuing with respect to the Notes of a series at the time of such
    issuance, the Company may from time to time, without the consent of the Holders of the Notes of such series, issue additional Notes
    of such series. Any such additional Notes will have the same interest rate, maturity date and other terms as the Notes of such
    series, except for the issue date, issue price and initial Interest Payment Date. Any such additional Notes, together with any
    other Notes of such series previously issued pursuant to this Supplemental Indenture, will constitute a single series of Securities
    under the Indenture; provided, however, that if any such additional Notes of a series would not be fungible with
    the outstanding Notes of such series for U.S. federal income tax purposes, the Company shall cause such additional Notes to be
    issued with a separate CUSIP number.

   

  SECTION 2.03. Maturity. The 2032 Notes
    will mature on September 15, 2032, and the 2052 Notes will mature on April 1, 2052.

   

  SECTION 2.04. Interest. The 2032 Notes
    will bear interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from March 29, 2022 at the rate
    of 4.400% per annum, payable semi-annually in arrears; and the 2052 Notes will bear interest (computed on the basis of a 360-day
    year consisting of twelve 30-day months) from March 29, 2022 at the rate of 5.100% per annum, payable semi-annually in arrears.
    Interest payable on each Interest Payment Date will include interest accrued from March 29, 2022, or from the most recent Interest
    Payment Date to which interest has been paid or duly provided for. The Interest Payment Dates on which such interest shall be payable
    in respect of the 2032 Notes are March 15 and September 15, commencing on September 15, 2022; and the Regular Record Date for the
    interest payable on any Interest Payment Date in respect of the 2032 Notes is the close of business on March 1 or September 1,
    as the case may be, immediately preceding the relevant Interest Payment Date, whether or not that day is a Business Day. The Interest
    Payment Dates on which such interest shall be payable in respect of the 2052 Notes are April 1 and October 1, commencing on October
    1, 2022; and the Regular Record Date for the interest payable on any Interest Payment Date in respect of the 2052 Notes is the
    close of business on March 15 or September 15, as the case may be, immediately preceding the relevant Interest Payment Date, whether
    or not that day is a Business Day.

   

  
     

    
      

    

  

   

  4

   

  SECTION 2.05. Method and Place of Payment.
    Payment of the principal of (and premium, if any) and interest on the Notes will be made at the Corporate Trust Office of the Trustee,
    or an office or agency maintained by the Company for such purpose, in the continental United States, in United States dollars;
    provided, however, that at the option of the Company payment of interest may be made by check mailed to the address
    of the Person entitled thereto as such address shall appear in the Security Register; and provided further, however,
    that all payments in respect of Global Securities shall be made by wire transfer in same-day funds in accordance with the applicable
    procedures of the Depositary. In any case where the date of maturity of interest on, premium, if any, or principal of any Note,
    the date fixed for redemption of the Notes or any Change of Control Payment Date is not a Business Day, then the relevant payment
    need not be made on such date but may be made on the next succeeding Business Day with the same force and effect as if made on
    such date and no interest shall accrue in respect of such amount for the period from and after such date. The Notes may be presented
    for registration of transfer and for exchange, and notices to or upon the Company in respect of such Notes may be served, at the
    Corporate Trust Office of the Trustee, or an office or agency maintained by the Company for such purpose, in the continental United
    States.

   

  SECTION 2.06. Optional Redemption.
    Prior to the applicable Par Call Date (as defined below), the Company may redeem the Notes of each series, at our option, in whole
    or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded
    to three decimal places) equal to the greater of:

   

  (a)          
    (i) the sum of the present values of the remaining scheduled payments of principal and interest on the applicable Notes
    to be redeemed discounted to the redemption date (assuming such Notes matured on the applicable Par Call Date) on a semi-annual
    basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus (x) in the case
    of the 2032 Notes, 35 basis points, and (y) in the case of the 2052 Notes, 40 basis points, in each case less (ii) interest accrued
    to the date of redemption, and

   

  (b)         
    100% of the principal amount of the Notes of such series to be redeemed,

   

  plus, in each case, any accrued and unpaid
    interest on the respective series of Notes to be redeemed to, but not including, the applicable date of redemption.

   

  On or after the applicable Par Call Date,
    the Company may, at its option, redeem the Notes of each series, in whole or in part at any time and from time to time, at a redemption
    price equal to 100% of the principal amount of the Notes of such series to be redeemed, plus accrued and unpaid interest on the
    applicable Notes to be redeemed to, but not including, the date of redemption.

   

  The following terms are relevant to the determination
    of the redemption price of the Notes.

   

  
     

    
      

    

  

   

  5

   

  “Business Day” means mean
    each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which the Trustee or banking institutions in the Borough
    of Manhattan, The City and State of New York are obligated or authorized by law to close.

   

  “Par Call Date” means (i)
    with respect to the 2032 Notes, June 15, 2032 (the date that is three months prior to the maturity of the 2032 Notes); and (ii)
    with respect to the 2052 Notes, October 1, 2051 (the date that is six months prior to the maturity of the 2052 Notes).

   

  “Treasury Rate” means,
    with respect to any redemption date, the yield determined by the Company in accordance with the following two paragraphs.

   

  The Treasury Rate shall be determined by the
    Company after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the
    Board of Governors of the Federal Reserve System), on the third Business Day preceding the applicable redemption date based upon
    the yield or yields for the most recent day that appear after such time on such day in the most recent statistical release published
    by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) - H.15” (or
    any successor designation or publication) (“H.15”) under the caption “U.S. government securities–Treasury
    constant maturities–Nominal” (or any successor caption or heading). In determining the Treasury Rate, the Company shall
    select, as applicable: (i) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the applicable
    redemption date to the applicable Par Call Date (the “Remaining Life”); or (ii) if there is no such Treasury
    constant maturity on H.15 exactly equal to the Remaining Life, the two yields – one yield corresponding to the Treasury constant
    maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer
    than the Remaining Life – and shall interpolate to the applicable Par Call Date on a straight-line basis (using the actual
    number of days) using such yields and rounding the result to three decimal places; or (iii) if there is no such Treasury constant
    maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest
    to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be
    deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity
    from the applicable redemption date.

   

  If on the third Business Day preceding the
    applicable redemption date, H.15 or any successor designation or publication is no longer published, the Company shall calculate
    the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City
    time, on the second Business Day preceding such redemption date of the United States Treasury security maturing on, or with a maturity
    that is closest to, the applicable Par Call Date, as applicable. If there is no United States Treasury security maturing on the
    applicable Par Call Date but there are two or more United States Treasury securities with a maturity date equally distant from
    the applicable Par Call Date, one with a maturity date preceding the applicable Par Call Date and one with a maturity date following
    the applicable Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the applicable
    Par Call Date. If there are two or more United States Treasury securities maturing on the applicable Par Call Date or two or more
    United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two
    or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average
    of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury
    Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury
    security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m.,
    New York City time, of such United States Treasury security, and rounded to three decimal places.

   

  
     

    
      

    

  

   

  6

  The Company’s actions and determinations
    in determining the redemption price shall be conclusive and binding for all purposes, absent manifest error.

   

  Notice of any redemption will be mailed or
    electronically delivered (or otherwise transmitted in accordance with the depositary’s procedures) at least 10 days but not
    more than 60 days before the applicable redemption date to each Holder of record of each series of the Notes to be redeemed.

   

  In the case of a partial redemption, selection
    of the Notes for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate
    and fair. No Notes of a principal amount of $2,000 or less will be redeemed in part. If any Note is to be redeemed in part only,
    the notice of redemption that relates to the Note will state the portion of the principal amount of the Note to be redeemed. A
    new Note in a principal amount equal to the unredeemed portion of the Note will be issued in the name of the Holder of the Note
    upon surrender for cancellation of the original Note. For so long as the Notes are held by DTC (or another depositary), the redemption
    of the Notes shall be done in accordance with the policies and procedures of the depositary.

   

  Unless the Company defaults in payment of
    the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for
    redemption.

   

  SECTION 2.07. Mandatory Redemption; Offers
      to Purchase; Open Market Purchases. The Company is not required to make any sinking fund payments or mandatory redemption with
    respect to the Notes. Notwithstanding any provision hereunder or in the Indenture to the contrary, the Company and its Affiliates
    may purchase Notes from investors who are willing to sell from time to time, either in the open market at prevailing prices or
    in private transactions at negotiated prices. Notes that the Company or any of its Affiliates purchase may, at the Company’s
    discretion, be held, resold or canceled.

   

  
     

    
      

    

  

   

  7

  SECTION 2.08. Appointment of Agents.
    The Trustee will initially be the Paying Agent, DTC Custodian, Authenticating Agent and Security Registrar for the Notes.

   

  SECTION 2.09. Global Securities. The
    Notes will be issued in the form of one or more permanent Global Securities in definitive, fully registered form, and will be subject
    to the terms and conditions of Section 2.01, Section 2.02 and Section 2.11 of the Indenture.

   

  SECTION 2.10. Change of Control. (a)
    Upon the occurrence of a Change of Control Triggering Event with respect to a series of Notes, unless the Company has exercised
    its option to redeem the Notes of such series pursuant to Section 2.06, each Holder of the Notes of such series will have the right
    to require the Company to purchase all or a portion of such Holder’s Notes of such series pursuant to an offer made in accordance
    with the terms of this Section 2.10 (the “Change of Control Offer”) at a purchase price equal to 101% of the
    principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of purchase, subject to the
    rights of Holders of the Notes of such series on the relevant Regular Record Date to receive interest due on the relevant Interest
    Payment Date.

   

  (b)          
    Within 30 days following any Change of Control Triggering Event with respect to a series of Notes, or at the Company’s
    option, prior to any Change of Control but after public announcement of the pending Change of Control, the Company shall give to
    each Holder of the Notes of such series, with a copy to the Trustee, a notice governing the terms of the Change of Control Offer
    that:

   

  (i)           
    describes the transaction or transactions that constitute or may constitute the Change of Control Triggering Event;

   

  (ii)          
    offers to repurchase all Notes tendered;

   

  (iii)         
    sets forth the payment date for the repurchase of the Notes, which date will be at least 30 days but no more than 60 days
    from the date such notice is given, other than as may be required by law (the “Change of Control Payment Date”);

   

  (iv)         
    if given prior to the date of consummation of the Change of Control, states that the Change of Control Offer is conditioned
    on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date;

   

  (v)          
    discloses that any Note not tendered for repurchase will continue to accrue interest; and

   

  (vi)         
    specifies the procedures for tendering Notes.

   

  (c)          
    Holders of the Notes electing to have Notes purchased pursuant to a Change of Control Offer will be required to: (i) surrender
    their Notes to the Paying Agent on the address specified in the notice, with the form entitled “Option of Holder to Elect
    Purchase” on the reverse of the Note completed or (ii) transfer their Notes to the Paying Agent by book-entry transfer pursuant
    to the applicable procedures of the Paying Agent, prior to the close of business on the third Business Day prior to the Change
    of Control Payment Date.

   

  
     

    
      

    

  

   

  8

   

  (d)          
    The Company will not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering
    Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an
    offer made by the Company and the third party purchases all Notes properly tendered and not withdrawn under its offer.

   

  (e)          
    The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
    thereunder, to the extent those laws and regulations are applicable, in connection with the repurchase of the Notes as a result
    of a Change of Control. To the extent that the provisions of any such securities laws or regulations conflict with the Change of
    Control Offer provisions of the Notes, the Company will comply with those securities laws and regulations and will not be deemed
    to have breached its obligations under this Section 2.10 by virtue of any such conflict.

   

  (f)           
    Solely for purposes of this Section 2.10, the following terms shall have the following meanings:

   

  “Change of Control” means
    the occurrence of any of the following:

   

  (i)            the
    direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one
    or a series of related transactions, of all or substantially all of the Company’s assets and the assets of its Subsidiaries,
    taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), other than the Company
    or one of its Subsidiaries;

   

  (ii)           the
    Company becomes aware of (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written
    notice or otherwise) the consummation of any transaction (including, without limitation, any merger or consolidation) the result
    of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), becomes the ultimate
    “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), of more than 50% of the Company’s outstanding
    Voting Stock;

   

  (iii)          the
    Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the Company,
    in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the Voting Stock of
    such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where
    the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into
    or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect parent company of the surviving
    person immediately after giving effect to such transaction; or

   

  
     

    
      

    

  

   

  9

   

  (iv)          the
    adoption of a plan relating to the Company’s liquidation or dissolution.

   

  “Change of Control Triggering Event”
    means the Notes of a series cease to be rated Investment Grade by at least two of the three Rating Agencies on any date during
    the period (the “Trigger Period”) commencing 60 days prior to the first public announcement of the Change of
    Control or the Company’s intention to effect a Change of Control and ending 60 days following consummation of such Change
    of Control, which Trigger Period will be extended following consummation of a Change of Control for so long as any of the Rating
    Agencies has publicly announced that it is considering a possible ratings change. Unless at least two of the three Rating Agencies
    are providing a rating for the Notes of a series at the commencement of any Trigger Period, the Notes of such series will be deemed
    to have ceased to be rated Investment Grade by at least two of the three Rating Agencies during that Trigger Period. Notwithstanding
    the foregoing, no Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of
    Control unless and until such Change of Control has actually been consummated.

   

  “Investment Grade” means
    a rating equal to or higher than Baa3 (or the equivalent) by Moody’s; a rating equal to or higher than BBB- (or the equivalent)
    by S&P; a rating equal to or higher than BBB- (or the equivalent) by Fitch; and the equivalent investment grade credit rating
    from any replacement Rating Agency or Rating Agencies selected by the Company.

   

  “Rating Agencies” means:

   

  (i)            each of Moody’s Investors
    Service, Inc., a subsidiary of Moody’s Corporation, and its successors (“Moody’s”), Fitch Ratings,
    Inc., and its successors (“Fitch”), and S&P Global Ratings, a division of S&P Global Inc., and its successors
    (“S&P”); and

   

  (ii)           if
    any of the Rating Agencies ceases to provide rating services to issuers or investors, and no Change of Control Triggering Event
    has occurred or is occurring, a “nationally recognized statistical rating organization” as defined in Section 3(a)(62)
    of the Exchange Act that is selected by the Company as a replacement for Moody’s, S&P, Fitch or all of them, as the case
    may be.

   

  “Voting Stock” means, with
    respect to any specified person as of any date, the Capital Stock of such person that is at the time entitled to vote generally
    in the election of the board of directors of such person.

   

  Notwithstanding the foregoing, the requirement
    of Section 11.02 of the Indenture that no supplemental indenture shall reduce the amount payable upon the redemption of any Note
    or accelerate the time at which such Note may be redeemable shall not apply to this Section 2.10.

   

  
     

    
      

    

  

   

  10

   

  SECTION 2.11. Defeasance. The provisions
    of Article IV of the Indenture will apply to the Notes. If the Company exercises its Covenant Defeasance option pursuant to Section
    4.02 and 4.04 of the Indenture with respect to a series of Notes, in addition to the provisions of the Indenture set forth in Section
    4.04, the Company also shall be released from its obligations in respect of the Notes of such series under Section 2.10 of this
    Supplemental Indenture.

   

  SECTION 2.12. Covenants. The provisions
    of Articles V and XII of the Indenture will apply to the Notes.

   

  ARTICLE III

   

  Form of Notes

   

  SECTION 3.01. Registration and Form of
      Notes; Denomination. The Notes shall be issued as registered securities as provided in Section 2.09 of Article II. The Notes
    and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the form set forth in Exhibit
    A hereto. The Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000
    in excess thereof.

   

  ARTICLE IV

   

  Miscellaneous

   

  SECTION 4.01. Ratification of Indenture.
    The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental
    Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided; provided, however,
    that the provisions of this Supplemental Indenture apply solely with respect to the Notes.

   

  SECTION 4.02. Trustee Not Responsible for
      Recitals, etc. The recitals contained herein and in the Notes (except in the certificate of authentication) shall be taken
    as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes
    no representations as to and shall not be responsible for the validity or sufficiency of this Supplemental Indenture or of the
    Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or the proceeds of the Notes
    authenticated and delivered by the Trustee in conformity with the provisions of this Supplemental Indenture or for any money paid
    to the Company or upon the Company’s directions under any provision of this Supplemental Indenture. The Trustee shall not
    be bound to ascertain or inquire as to the performance, observance, or breach of any covenants, conditions, representations, warranties
    or agreements on the part of the Company, and shall not be responsible for any statement in any document used in connection with
    the sale of any Notes. Neither the Trustee nor any Paying Agent shall be responsible for monitoring the Company’s rating
    status, making any request upon any Rating Agency or determining whether any rating event has occurred. The Trustee shall have
    no obligation to independently determine or verify if any Change of Control or any other event has occurred or if any Change of
    Control Offer is required to be made, or notify the Holders of any such event. For the avoidance of doubt, all of the provisions
    contained in the Indenture in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable
    in respect of this Supplemental Indenture as fully and with like force and effect as though fully set forth in full herein.

   

  
     

    
      

    

  

   

  11

   

  SECTION 4.03. Governing Law; Waiver of
      Jury Trial. This Supplemental Indenture and the Notes shall be governed by, and construed in accordance with, the laws of the
    State of New York. The Company and the Trustee, and each Holder of a note irrevocably waives,
      to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or
      relating to this Indenture, the Securities or any transaction contemplated thereby.

   

  SECTION 4.04. Separability. If any
    provision in this Supplemental Indenture or the Notes is deemed unenforceable, it shall not affect the validity or enforceability
    of any other provision set forth herein, or of this Supplemental Indenture or of the Notes as a whole.

   

  SECTION 4.05. Execution in Counterparts.
    This Supplemental Indenture may be executed in any number of counterparts (which may include counterparts delivered by any standard
    form of telecommunication), each of which shall be an original, but such counterparts shall together constitute but one and the
    same instrument. The words “execution,” “signed,” “signature,” “delivery,” and
    words of like import in or relating to this Supplemental Indenture or any document to be signed in connection with this Supplemental
    Indenture shall be deemed to include electronic signatures complying with the U.S. federal ESIGN Act of 2000 or the New York Electronic
    Signature and Records Act or, deliveries or the keeping of records in electronic form, each of which shall be of the same legal
    effect, validity or enforceability to the fullest extent permitted by applicable law as a manually executed signature, physical
    delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct
    the transactions contemplated hereunder by electronic means.

   

  
     

    
      

    

  

   

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

   

  	 	BRUNSWICK CORPORATION
	 	 
	 	 	By:	/s/ Brian R. Frey
	 	 	
          Name: Brian R. Frey

          Title: Vice President
            and Treasurer

        

   

  	 	u.s. bank TRUST COMPANY, national association, as Trustee
	 	 
	 	 	By:	/s/ Linda Garcia
	 	 	
          Name: Linda Garcia

          Title: Vice President

        

   

  [Signature
        Page to Fifth Supplemental Indenture]

   

  
     

    
      

    

  

  
   

  EXHIBIT A – FORM OF 2032 NOTE

   

  THIS GLOBAL SECURITY IS HELD BY AND REGISTERED
    IN THE NAME OF THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF
    THE BENEFICIAL OWNERS HEREOF, IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR
    ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
    EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 11.04 OF THE INDENTURE, (II)
    THIS GLOBAL SECURITY MAY BE EXCHANGED PURSUANT TO SECTION 2.01(c) OF THE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED
    TO THE TRUSTEE FOR CANCELATION PURSUANT TO SECTION 2.08 OF THE INDENTURE AND (IV) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A
    SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

   

  UNLESS THIS CERTIFICATE IS PRESENTED BY
    AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO
    THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
    OF CEDE & CO. OR IN 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.

   

  BRUNSWICK CORPORATION

    4.400% Senior Notes due 2032

   

  	REGISTERED 	CUSIP No. 117043 AU3
	No. R-	ISIN No. US117043AU39

   

  Brunswick Corporation, a corporation duly
    organized and existing under the laws of the State of Delaware (herein called the “Company,” which term includes any
    successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to [________], / [insert
    if Global Security: Cede & Co.], or registered assigns, the principal sum of [$ ( ________ dollars)] / [insert if Global Security:
    the principal amount set forth on the Schedule of Exchanges of Interests in Global Securities attached hereto, which principal
    amount may from time to time be reduced or increased, as appropriate, in accordance with the within mentioned Indenture and as
    reflected in the Schedule of Exchanges of Interests in the Global Security attached hereto, to reflect exchanges or redemptions
    of the Securities represented hereby], on September 15, 2032, and to pay interest thereon from March 29, 2022 or from the most
    recent Interest Payment Date to which interest has been paid or duly provided for, semiannually in arrears on March 15 and September
    15 in each year, commencing on September 15, 2022, at the rate of 4.400% per annum, until the principal hereof is paid or made
    available for payment; provided, however, that any principal and premium, and any such installment of interest, which
    is overdue shall bear interest at the rate of 4.400% per annum (to the extent that the payment of such interest shall be legally
    enforceable), from the dates such amounts are due until they are paid or made available for payment. The interest so payable, and
    punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
    whose name this Security is registered at the close of business on the Regular Record Date for such interest, which shall be the
    March 1 and September 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such
    interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date
    and shall be paid to the Person in whose name this Security is registered at the close of business on a date to be fixed by the
    Company for the payment of such Defaulted Interest (a “Special Record Date”), notice whereof shall be given to Holder
    of Securities of this series not less than 15 days prior to such Special Record Date.

   

  
    A-1 

    
      

    

  

   

  Payment of the principal of (and premium,
    if any) and any such interest on this Security will be made at the office or agency of the Company maintained for that purpose
    in accordance with the terms of the Indenture referred to on the reverse hereof in United States dollars.

   

  Reference is hereby made to the further
    provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
    as if set forth at this place.

   

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

   

  Unless the certificate of authentication
    hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled
    to any benefit under the Indenture or be valid or obligatory for any purpose.

   

  
    A-2 

    
      

    

  

   

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

   

  	Dated:	BRUNSWICK CORPORATION
	 	 
	 	 	By:	 
	 	 	
          Name:

          Title:

        

   

  
    A-3 

    
      

    

  

   

  CERTIFICATE OF AUTHENTICATION

   

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

   

   

  	Dated:	U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (as successor in interest to U.S. BANK NATIONAL ASSOCIATION), AS TRUSTEE
	 	 
	 	 	By:	 
	 	 	Authorized Signatory

   

  
    A-4 

    
      

    

  

   

  [REVERSE OF NOTE]

   

  This Security is one of a duly authorized
    issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series
    under an Indenture (herein called the “Base Indenture,” which term shall have the meaning assigned to it in such instrument),
    dated as of October 3, 2018, between the Company and U.S. Bank National Association, as Trustee (herein called the “Trustee,”
    which term includes any successor trustee under the Indenture), as supplemented by the Fifth Supplemental Indenture (herein called
    the “Fifth Supplemental Indenture,” which term shall have the meaning assigned to it in such instrument, and together
    with the Base Indenture, herein called the “Indenture”), dated as of March 29, 2022, between the Company and the Trustee,
    and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities
    thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are
    to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited in aggregate
    principal amount to $450,000,000.

   

  The Securities of this series shall be redeemable
    at the Company’s option in accordance with the terms and conditions specified in Section 2.06 of the Fifth Supplemental Indenture
    and Article Three of the Base Indenture.

   

  If a Change of Control Triggering Event
    occurs, unless the Company has exercised its option to redeem the Securities, each holder of the Securities will have the right
    to require the Company to purchase all or a portion of such holder’s Securities as set forth in Section 2.10 of the Fifth
    Supplemental Indenture.

   

  The Indenture contains provisions for defeasance
    at any time of the entire indebtedness of this Security or certain covenants and Events of Default with respect to this Security,
    in each case upon compliance with certain conditions set forth in the Indenture.

   

  If an Event of Default with respect to Securities
    of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
    the manner and with the effect provided in the Indenture.

   

  The Indenture permits, with certain exceptions
    as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of
    the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with
    the consent of the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of each series
    to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount
    of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance
    by the Company 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 Security shall be conclusive and binding upon such Holder and upon all future Holders
    of this Security and of any Security 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 Security.

   

  
    A-5 

    
      

    

  

   

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

   

  As provided in the Indenture and subject
    to certain limitations therein set forth, the transfer of this Security may be registered and this Security may be exchanged as
    provided in the Indenture.

   

  The Securities of this series are issuable
    only in registered form without coupons in denominations of $2,000 and any integral multiples of $1,000 in excess thereof.

   

  No service charge shall be made for any
    such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental
    charge payable in connection therewith.

   

  Prior to due presentment of this Security
    for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
    name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the
    Company, the Trustee nor any such agent shall be affected by notice to the contrary.

   

  No recourse for the payment of the principal
    of or premium, if any, or interest on any Security, or for any claim based thereon or otherwise in respect thereof, and no recourse
    under or upon any obligation, covenant or agreement of the Company, contained in the Indenture or in any supplemental indenture,
    or in any Security, or because of the creation of any Indebtedness represented thereby, shall be had against any incorporator,
    stockholder, officer or director, past, present or future, of the Company or any successor Persons, either directly or through
    the Company or any such successor Person, whether by virtue of any constitution, statute or rule of law, or by the enforcement
    of any assessment or penalty or otherwise. Each Holder by accepting a Security waives and releases all such liabilities. The waiver
    and release are part of the consideration for issuance of the Securities.

   

  All terms used in this Security which are
    defined in the Indenture shall have the meanings assigned to them in the Indenture.

   

  
    A-6 

    
      

    

  

   

  ASSIGNMENT FORM

   

  	To assign this Security, fill in the form below:
	 	 
	I or we assign and transfer this Security to:
	 
	 
	(Insert assignee’s social security or tax I.D. no.)
	 
	 	 
	 
	 
	 
	(Print or type assignee’s name, address and zip code)
	 	 
	and irrevocably appoint as agent to transfer this Security on the books of the Company.  The agent may substitute another to act for him.
	 
	 
	 	 
	Your	 
	Signature:	(Sign exactly as your name appears on the other side of this Security)
	 	 
	Your	 
	Name:	 
	 	 
	Date:	 
	 	 
	Signature	*
	Guarantee:	 
	 	 

   

  		*	NOTICE:  The Signature must be guaranteed by
          an Institution which is a member of one of the following recognized signature Guarantee Programs:  (i) The Securities
          Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock
          Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee

   

  
    A-7 

    
      

    

  

   

  OPTION OF HOLDER TO ELECT PURCHASE

   

  If you want to elect to have this Security purchased by the
    Company pursuant to Section 2.10 of the Fifth Supplemental Indenture, check the box:

   

  ☐ 

   

  If you want to elect to have only part of this Security purchased
    by the Company pursuant to Section 2.10 of the Fifth Supplemental Indenture, state the amount in principal amount (must be in denominations
    of $2,000 or any integral multiples of $1,000 in excess thereof):

   

  	$:	        	 

   

  	Date:	 	 	Your Signature:	 
	 	 	 	 	 
	 	 	 	(Sign exactly as your name appears on the other
          side of the Security)

   

  	Signature Guarantee:	 
	 	 
	 	(Signature must be guaranteed)

   

  		*	NOTICE:  The Signature must be guaranteed by
          an Institution which is a member of one of the following recognized signature Guarantee Programs:  (i) The Securities
          Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock
          Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee

   

  
    A-8 

    
      

    

  

   

  [TO BE ATTACHED TO GLOBAL SECURITIES]

   

  SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY

   

  The initial Outstanding principal amount of this Global Security
    is $ .

   

  The following exchanges of an interest in this Global Security
    for an interest in another Global Security or for a Definitive Security, exchanges of an interest in another Global Security or
    a Definitive Security for an interest in this Global Security, or exchanges or purchases of a part of this Global Security have
    been made:

   

  	
          Date of Exchange

        	
          Amount

              of

              decrease

              in

              Principal

              Amount

              of this

              Global

              Security

        	
          Amount

              of

              increase

              in

              Principal

              Amount

              of this

              Global

              Security

        	
          Principal

              Amount

              of this

              Global

              Security

              following

              such

              decrease

              or

              increase

        	
          Signature

              of

              authorized

              signatory of

              Trustee or

              Securities

              Custodian

        
	 	 	 	 	 

   

  
    A-9 

    
      

    

  

  
   

  EXHIBIT B – FORM OF 2052 NOTE

   

  THIS GLOBAL SECURITY IS HELD BY AND REGISTERED
    IN THE NAME OF THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF
    THE BENEFICIAL OWNERS HEREOF, IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR
    ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
    EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 11.04 OF THE INDENTURE, (II)
    THIS GLOBAL SECURITY MAY BE EXCHANGED PURSUANT TO SECTION 2.01(c) OF THE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED
    TO THE TRUSTEE FOR CANCELATION PURSUANT TO SECTION 2.08 OF THE INDENTURE AND (IV) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A
    SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

   

  UNLESS THIS CERTIFICATE IS PRESENTED BY
    AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO
    THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
    OF CEDE & CO. OR IN 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.

   

  BRUNSWICK CORPORATION

    5.100% Senior Notes due 2052

   

  	REGISTERED 	CUSIP No. 117043 AV1
	No. R-	ISIN No. US117043AV12

   

  Brunswick Corporation, a corporation duly
    organized and existing under the laws of the State of Delaware (herein called the “Company,” which term includes any
    successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to [________], / [insert
    if Global Security: Cede & Co.], or registered assigns, the principal sum of [$ ( ________ dollars)] / [insert if Global Security:
    the principal amount set forth on the Schedule of Exchanges of Interests in Global Securities attached hereto, which principal
    amount may from time to time be reduced or increased, as appropriate, in accordance with the within mentioned Indenture and as
    reflected in the Schedule of Exchanges of Interests in the Global Security attached hereto, to reflect exchanges or redemptions
    of the Securities represented hereby], on April 1, 2052, and to pay interest thereon from March 29, 2022 or from the most recent
    Interest Payment Date to which interest has been paid or duly provided for, semiannually in arrears on April 1 and October 1 in
    each year, commencing on October 1, 2022, at the rate of 5.100% per annum, until the principal hereof is paid or made available
    for payment; provided, however, that any principal and premium, and any such installment of interest, which is overdue
    shall bear interest at the rate of 5.100% per annum (to the extent that the payment of such interest shall be legally enforceable),
    from the dates such amounts are due until they are paid or made available for payment. The interest so payable, and punctually
    paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name
    this Security is registered at the close of business on the Regular Record Date for such interest, which shall be the March 15
    and September 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest
    not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and shall
    be paid to the Person in whose name this Security is registered at the close of business on a date to be fixed by the Company for
    the payment of such Defaulted Interest (a “Special Record Date”), notice whereof shall be given to Holder of Securities
    of this series not less than 15 days prior to such Special Record Date.

   

  
    B-1 

    
      

    

  

   

  Payment of the principal of (and premium,
    if any) and any such interest on this Security will be made at the office or agency of the Company maintained for that purpose
    in accordance with the terms of the Indenture referred to on the reverse hereof in United States dollars.

   

  Reference is hereby made to the further
    provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
    as if set forth at this place.

   

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

   

  Unless the certificate of authentication
    hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled
    to any benefit under the Indenture or be valid or obligatory for any purpose.

   

  
    B-2 

    
      

    

  

   

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

   

  	Dated:	BRUNSWICK CORPORATION
	 	 
	 	 	By:	 
	 	 	
          Name:

          Title:

        

   

  
    B-3 

    
      

    

  

   

  CERTIFICATE OF AUTHENTICATION

   

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

   

  	Dated:	U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (as successor in interest to U.S. BANK NATIONAL ASSOCIATION), AS TRUSTEE
	 	 
	 	 	By:	 
	 	 	Authorized Signatory

   

  
    B-4 

    
      

    

  

   

  [REVERSE OF NOTE]

   

  This Security is one of a duly authorized
    issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series
    under an Indenture (herein called the “Base Indenture,” which term shall have the meaning assigned to it in such instrument),
    dated as of October 3, 2018, between the Company and U.S. Bank National Association, as Trustee (herein called the “Trustee,”
    which term includes any successor trustee under the Indenture), as supplemented by the Fifth Supplemental Indenture (herein called
    the “Fifth Supplemental Indenture,” which term shall have the meaning assigned to it in such instrument, and together
    with the Base Indenture, herein called the “Indenture”), dated as of March 29, 2022, between the Company and the Trustee,
    and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities
    thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are
    to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited in aggregate
    principal amount to $300,000,000.

   

  The Securities of this series shall be redeemable
    at the Company’s option in accordance with the terms and conditions specified in Section 2.06 of the Fifth Supplemental Indenture
    and Article Three of the Base Indenture.

   

  If a Change of Control Triggering Event
    occurs, unless the Company has exercised its option to redeem the Securities, each holder of the Securities will have the right
    to require the Company to purchase all or a portion of such holder’s Securities as set forth in Section 2.10 of the Fifth
    Supplemental Indenture.

   

  The Indenture contains provisions for defeasance
    at any time of the entire indebtedness of this Security or certain covenants and Events of Default with respect to this Security,
    in each case upon compliance with certain conditions set forth in the Indenture.

   

  If an Event of Default with respect to Securities
    of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in
    the manner and with the effect provided in the Indenture.

   

  The Indenture permits, with certain exceptions
    as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of
    the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with
    the consent of the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of each series
    to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount
    of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance
    by the Company 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 Security shall be conclusive and binding upon such Holder and upon all future Holders
    of this Security and of any Security 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 Security.

   

  
    B-5 

    
      

    

  

   

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

   

  As provided in the Indenture and subject
    to certain limitations therein set forth, the transfer of this Security may be registered and this Security may be exchanged as
    provided in the Indenture.

   

  The Securities of this series are issuable
    only in registered form without coupons in denominations of $2,000 and any integral multiples of $1,000 in excess thereof.

   

  No service charge shall be made for any
    such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental
    charge payable in connection therewith.

   

  Prior to due presentment of this Security
    for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
    name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the
    Company, the Trustee nor any such agent shall be affected by notice to the contrary.

   

  No recourse for the payment of the principal
    of or premium, if any, or interest on any Security, or for any claim based thereon or otherwise in respect thereof, and no recourse
    under or upon any obligation, covenant or agreement of the Company, contained in the Indenture or in any supplemental indenture,
    or in any Security, or because of the creation of any Indebtedness represented thereby, shall be had against any incorporator,
    stockholder, officer or director, past, present or future, of the Company or any successor Persons, either directly or through
    the Company or any such successor Person, whether by virtue of any constitution, statute or rule of law, or by the enforcement
    of any assessment or penalty or otherwise. Each Holder by accepting a Security waives and releases all such liabilities. The waiver
    and release are part of the consideration for issuance of the Securities.

   

  All terms used in this Security which are
    defined in the Indenture shall have the meanings assigned to them in the Indenture.

   

  
    B-6 

    
      

    

  

   

  ASSIGNMENT FORM

   

  	To assign this Security, fill in the form below:
	 	 
	I or we assign and transfer this Security to:
	 
	 
	(Insert assignee’s social security or tax I.D. no.)
	 
	 	 
	 
	 
	 
	(Print or type assignee’s name, address and zip code)
	 
	 	 
	and irrevocably appoint as agent to transfer this Security on the books of the Company.  The agent may substitute another to act for him.
	 
	 
	 	 
	Your	 
	Signature:	(Sign exactly as your name appears on the other side of this Security)
	 	 
	Your	 
	Name:	 
	 	 
	Date:	 
	 	 
	 	 
	Signature	*
	Guarantee:	 
	 	 

  

  		*	NOTICE:  The Signature must be guaranteed by
          an Institution which is a member of one of the following recognized signature Guarantee Programs:  (i) The Securities
          Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock
          Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee

   

  
    B-7 

    
      

    

  

   

  OPTION OF HOLDER TO ELECT PURCHASE

   

  If you want to elect to have this Security purchased by the
    Company pursuant to Section 2.10 of the Fifth Supplemental Indenture, check the box:

   

  ☐

   

  If you want to elect to have only part of this Security purchased
    by the Company pursuant to Section 2.10 of the Fifth Supplemental Indenture, state the amount in principal amount (must be in denominations
    of $2,000 or any integral multiples of $1,000 in excess thereof):

   

  	$:	        	 

   

  	Date:	 	 	Your Signature:	 
	 	 	 	 	 
	 	 	 	(Sign exactly as your name appears on the other
          side of the Security)

   

  	Signature Guarantee:	 
	 	 
	 	(Signature must be guaranteed)

   

   

  	*	NOTICE:  The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs:  (i) The Securities Transfer Agent
          Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee

   

  
    B-8 

    
      

    

  

   

  [TO BE ATTACHED TO GLOBAL SECURITIES]

   

  SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY

   

  The initial Outstanding principal amount of this Global Security
    is $ .

   

  The following exchanges of an interest in this Global Security
    for an interest in another Global Security or for a Definitive Security, exchanges of an interest in another Global Security or
    a Definitive Security for an interest in this Global Security, or exchanges or purchases of a part of this Global Security have
    been made:

   

  	
          Date of Exchange

        	
          Amount

              of

              decrease

              in

              Principal

              Amount

              of this

              Global

              Security

        	
          Amount

              of

              increase

              in

              Principal

              Amount

              of this

              Global

              Security

        	
          Principal

              Amount

              of this

              Global

              Security

              following

              such

              decrease

              or

              increase

        	
          Signature

              of

              authorized

              signatory of

              Trustee or

              Securities

              Custodian

        
	 	 	 	 	 

   

  
  
     B-9

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