Document:

Exhibit 10.1

 

FENNEC PHARMACEUTICALS INC.

AMENDED AND
RESTATED STOCK OPTION PLAN

 

PLAN DESCRIPTION

 

		1.	Purpose of the Plan

 

The purpose of the Fennec Pharmaceuticals
Inc. Amended and Restated Stock Option Plan is to develop the interest and incentive of eligible employees, directors and other
service providers of FENNEC PHARMACEUTICALS INC. (the "Company"), in the Company's growth and development by providing
incentives (thereby advancing the interests of the Company, enhancing the value of the Common Shares for the benefit of all the
shareholders and increasing the ability of the Company to attract and retain skilled and motivated individuals in the service of
the Company):

 

(a)          to
Employees of the Company, or its parent (if any) or any of its present or future subsidiaries (collectively, "Related Corporations"),
by providing them with opportunities to purchase Common Shares (as defined below) of the Company pursuant to options granted hereunder
that qualify as "incentive stock options" ("ISOs") under Section 422 of the Internal Revenue Code of 1986,
as amended, or any successor statute (the "Code"); and

 

(b)          to
Directors, Employees and Service Providers of the Company and Related Corporations by providing them with opportunities to purchase
Common Shares pursuant to options granted hereunder that do not qualify as ISOs (Nonstatutory Stock Options, or "NSOs").

 

Both ISOs and NSOs are referred to hereafter
individually as "Options". As used herein, the terms "parent" and "subsidiary" mean "parent
corporation" and "subsidiary corporation", respectively, as those terms are defined in Section 424 of the Code.

 

This Plan was adopted by the Board on March
18, 2005 (the "Effective Date"), subject to approval of the Plan by the shareholders of the Company.

 

		2.	Definitions

 

In this Plan:

 

		(a)	"Board" means the board of directors of the
Company;

 

		(b)	"Committee" means the appropriate compensation
committee, if any, appointed by the Board of Directors to administer the Plan;

 

		(c)	"Common Shares" means the Common Shares of
the Company or, in the event of an adjustment contemplated in Section 8 hereof, such other securities to which a Participant may
be entitled upon the exercise of an Option as a result of such adjustment;

 

		(d)	"Date of Grant" means the date a Participant
is granted an Option to purchase Option Shares;

 

		(e)	"Director" means a person occupying the position
of director on the Board of the Company or any Related Corporation;

 

		(f)	"Employee" means a full time employee of the
Company or any Related Corporation;

 

     

     

    

 

		(g)	"Exchange" means the Toronto Stock Exchange
or, if the Common Shares are not then listed and posted for trading on the Toronto Stock Exchange, on such stock exchange or quotation
system on which such shares are listed, posted for trading or quoted as may be selected by the Committee.

 

		(h)	"Exercise Date" means the date the Company
receives from the Participant a completed Stock Option Purchase Form with payment for the Option Shares being purchased;

 

		(i)	"Fair Market Value" at any date in respect
of the Common Shares is the fair value of the Common Shares as determined by the Committee in its sole discretion. If, at the
time an Option is granted under the Plan, the Common Shares are publicly traded and listed on the Exchange or the NASDAQ Stock
Market, "Fair Market Value" shall be equal to the closing price of the Common Shares on the Exchange or the NASDAQ Stock
Market on the trading day immediately preceding the Date of Grant; provided that if the Common Shares are then traded on the NASDAQ
Stock Market , "Fair Market Value" shall, if the Common Shares are not then listed on the Exchange or the NASDAQ Stock
Market or otherwise if so determined by the Committee in its sole discretion, be equal to the closing sale price for such stock
on such exchange or market trading day immediately preceding the Date of Grant.

 

		(j)	"Option Price" means the price per share at
which a Participant may purchase Option Shares;

 

		(k)	"Option Shares" means the Common Shares of
the Company which a Participant is entitled to purchase under the Plan;

 

		(l)	"Participants" means Directors, Employees and
Service Providers to whom Options are granted pursuant to the Plan;

 

		(m)	"Plan" means the Fennec Pharmaceuticals Inc.
Stock Option Plan, as the same may be amended and restated from time to time;

 

		(n)	"Service Provider" means any individual other
than an Employee or Director, engaged to provide ongoing management, advisory or consulting services for the Company or a Related
Corporation;

 

		(o)	"Stock Option Agreement" means (i) prior to
March 18, 2005, the stock option agreement to be entered into between the Company and a Participant in the form of Appendix "A"
and (ii) after such date, the stock option agreement to be entered into between the Company and a Participant in the form of Appendix
 "C"; and

 

		(p)	"Vesting Period" means the period(s) as stipulated
herein or in the Stock Option Agreement that the Participant may purchase the Option Shares.

 

		3.	Eligibility and Number of Option Shares Subject to Plan

 

Participation in the Plan shall be limited
to Participants who are designated from time to time by the Committee. ISOs may be granted to any Employee resident in the United
States. Those officers of the Company who are not employees may not be granted ISOs under the Plan. NSOs may be granted to any
Director, Employee or Service Provider. Participation shall be voluntary and the extent to which any Participant shall be entitled
to participate in the Plan shall be determined by the Committee. Until changed in accordance with Section 16, the maximum number
of shares issuable under this Plan shall be that number of Common Shares representing twenty-five percent (25%) of the total number
of all issued and outstanding Common Shares from time to time, subject to adjustment in accordance with Section 8. Granting of
any Option to any individual shall neither entitle that individual to, nor disqualify him or her from, participation in any other
grant of Options. If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in
full or shall cease for any reason to be exercisable in whole or in part, or if the Company shall reacquire any shares issued pursuant
to Options, the unpurchased shares subject to such Options and any shares so reacquired by the Company shall again be available
for grants of Options under the Plan.

 

    	 	-2-	 

     

    

 

The selection of a Director or an officer
who is a Reporting Person (as the terms "director" and "officer" are defined for purposes of Rule 16b-3) as
a recipient of an Option, the timing of the Option grant, the exercise price, if any, of the Option and the number of shares subject
to the Option shall be determined either (i) by the Board, or (ii) by a committee of the Board that is composed solely of two or
more Non- Employee Directors having full authority to act in the matter. For the purposes of the Plan, a director shall be deemed
to be a "Non-Employee Director" only if such person is defined as such under Rule 16b-3(b)(3), as interpreted from time
to time.

 

No fractional shares may be purchased or
issued hereunder.

 

		4.	Price for Shares; ISO Limitations

 

The Committee shall advise each Participant,
as applicable, of the number of shares subject to such Participant's Option, the Option Price at which Option Shares may be purchased
and the Vesting Period applicable to the Option. The Option Price at which the Option Shares may be purchased under the Plan shall
be fixed by the Committee based upon the Fair Market Value of the Common Shares. The Committee may impose, in its discretion, performance
thresholds which will need to be met prior to vesting of any Options granted.

 

The price per share specified in the Stock
Option Agreement relating to each ISO granted under the Plan shall not be less than the Fair Market Value of the Common Shares
on the date of such grant. In the case of an ISO to be granted to an employee owning stock possessing more than 10% of the total
combined voting power of all classes of stock of the Company or any Related Corporation, the price per share specified in the agreement
relating to such ISO shall not be less than 110% of the fair market value per Common Share on the date of the grant.

 

To the extent that the aggregate Fair Market
Value of the Common Shares (determined at the time an ISO is granted) for which ISOs granted to any employee are exercisable for
the first time by such employee during any calendar year (under all stock option plans of the Company and any Related Corporation)
exceeds US$100,000; or such higher value as permitted under Code Section 422 at the time of determination, such Options will be
treated as NSOs, provided that this Section shall have no force or effect to the extent that its inclusion in the Plan is not necessary
for Options issued as ISOs to qualify as ISOs pursuant to Section 422 of the Code. The rule of this Section shall be applied by
taking Options in the order in which they were granted.

 

		5.	Exercise

 

Options granted under the Plan must be
exercised within a period of up to ten (10) years as determined by the Committee from the Date of Grant, failing which the Option
shall expire; provided that, if the end of such period for any vested Option falls on, or within nine (9) trading days immediately
following, a date upon which the Participant is prohibited from exercising such Option due to a black-out period or other trading
restriction imposed by the Company, then the expiry date of such Option shall be automatically be the tenth (10th) trading day
following the date the relevant black-out period or other trading restriction imposed by the Company is lifted, terminated or removed
Notwithstanding, Options granted under the Plan shall expire five (5) years from the Date of Grant in the case of ISOs granted
to an employee owning stock possessing more than 10% of the total combined voting power of all classes of stock of the Company
or any Related Corporation. Unless otherwise determined by the Committee and specifically set forth in the Stock Option Agreement,
the Vesting Periods during which Options or a portion thereof vest and may be exercised by the Participant shall be as follows:

 

    	 	-3-	 

     

    

 

one-third of the Option may be exercised after the
first anniversary of the date of grant;

one-third of the Option may be exercised after the
second anniversary of the date of grant; and one-third of the Option may be exercised after the third anniversary of the date of
grant.

 

Notwithstanding such vesting period or
that certain vesting period set forth in the Stock Option Agreement, the Committee may, in its sole discretion, by written notice
to any Participant, accelerate the vesting of all or any of the Options such that the Options become immediately fully vested.
In such circumstances, the Committee may by written notice compel the Participant to exercise the Options within 30 days of the
date of such written notice to exercise, failing which the Participant's right to purchase such Option Shares lapses.

 

The Committee in its discretion may require that the exercise
of an Option shall be conditional on the Participant making any representations and warranty to the Company as may be required
under applicable laws or regulations.

 

		6.	Payment

 

Except as otherwise provided in this Plan
or the instrument evidencing the Option, an Option (or any part or installment thereof) shall be exercised by giving written notice
to the Company at its principal office address to the attention of its Corporate Secretary. Such notice shall identify the Option
being exercised and specify the number of shares as to which such Option is being exercised, accompanied by full payment of the
exercise price therefor, if any, payable as follows (a) in Canadian or United States dollars in cash, check or money order, or
(b) at the discretion of the Committee, by delivery of a notice that the grantee has placed a market sell order with a broker with
respect to Common Shares then issuable upon exercise of the Option and that the broker has been directed to pay a sufficient portion
of the net proceeds of the sale to the Company in satisfaction of the Option exercise price, provided that payment of such proceeds
is then made to the Company upon settlement of the sale or (c) at the discretion of the Committee, by any combination of (a) and
(b) such other consideration and method of payment for the issuance of shares to the extent permitted by applicable law or the
Plan. Notwithstanding, with regard to Options granted before March 18, 2005, such notice shall be in the form attached hereto as
Appendix "B." If the Committee exercises its discretion to permit payment of the exercise price of an ISO by means of
the methods set forth in clause (b) of the preceding sentence, such discretion shall be exercised in writing at the time of the
grant of the ISO in question and such exercise shall also be governed by any terms set forth in the written agreement evidencing
the grant of the Option.

 

		7.	Share Certificates

 

Upon exercise of an Option and payment
in full of the purchase price, the Company shall cause to be delivered to the Participant within a reasonable period of time a
duplicate certificate or certificates in the name of the Participant representing the number of Common Shares the Participant has
purchased.

 

    	 	-4-	 

     

    

 

		8.	Adjustment in Shares

 

In the event of any subdivision, redivision
or change of the Common Shares of the Company at any time prior to the expiration of the Option into a greater number of shares,
the Company shall deliver at the time of any exercise thereafter of the Option such additional number of shares as would have resulted
from such subdivision, redivision or change if such exercise of the Option hereby granted had been prior to the date of such subdivision,
redivision or change. In the event of any consolidation or change of the Common Shares of the Company at any time prior to the
expiration of the Option into a lesser number of shares, the number of shares deliverable by the Company on any exercise thereafter
of the Option shall be reduced to such number of shares as would have resulted from such consolidation or change if such exercise
of the Option hereby granted had been prior to the date of such consolidation or change. In all such cases, any Option Price shall
also be adjusted accordingly. Except as expressly provided herein, no issuance by the Company of shares of stock of any class,
or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with
respect to, the number or price of shares subject to the Option.

 

In the event of a proposed Change in Control
(as defined below) of the Company, the Company shall give written notice thereof to each Participant holding Options under the
Plan and such Participants shall be entitled to exercise all or a portion of the Option granted to such Participants, whether or
not such Option has previously vested, within the 30 days period following the giving of such notice. To the extent the proposed
Change in Control is not completed in a reasonable time, the Company may purchase at the Option Price the Option Shares acquired
by the Participant pursuant to Options which would not have vested but for the acceleration of the Vesting Period as set forth
in the preceding sentence. Upon the expiration of such 30 day period, all unexercised Options shall terminate and cease to have
any further force and effect. “Change of Control” shall mean the acquisition (at one time or over a period of time)
of shares of the Company or of securities (“Convertible Securities”) convertible into, exchangeable for or representing
the right to acquire shares of the Company as a result of which a person, group of persons or persons acting jointly or in concert,
or persons associated or affiliated within the meaning of the Canada Business Corporation Act with any such person, group
of persons or persons acting jointly or in concert (collectively, the “Acquirors”), beneficially own shares of the
Company and/or Convertible Securities that would entitle the holders thereof to cast more than 50% of the votes attaching to all
shares in the capital of the Company that may cast to elect directors of the Company (assuming the conversion, exchange or exercise
of Convertible Securities beneficially owned by the Acquirors). For the avoidance of doubt, a Change of Control shall not include
a reverse takeover or other reorganization whereby the holders of shares and Convertible Securities of the Company immediately
prior to such transaction beneficially own, following the completion of the transaction, shares of the parent or surviving corporation
that would entitle the holders thereof to cast more than 50% of the votes attaching to all shares in the capital of such parent
or surviving corporation that may cast to elect directors of such parent or surviving corporation. In the event of Change in Control
of the Company, the Participant irrevocably agrees that any shares owned by him/her at the time of such Change in Control shall
be tendered for sale in accordance with the terms of such Change in Control.

 

In the event of a transaction, including
without limitation, a recapitalization or reorganization of the Company (other than a transaction described in the preceding paragraph)
pursuant to which securities of the Company or of another corporation are issued with respect to the outstanding Common Shares,
an optionee or grantee upon exercising an Options shall be entitled to receive for the purchase price paid upon such exercise the
securities he or she would have received if he or she had exercised the Option immediately prior to such recapitalization or reorganization.

 

In the event of the proposed dissolution
or liquidation of the Company, each Option will terminate immediately prior to the consummation of such proposed action or at such
other time and subject to such other conditions as shall be determined by the Committee.

 

    	 	-5-	 

     

    

 

		9.	Termination Of Participant For Any Reason

 

In the event that a Employee's employment
is terminated for any reason, a Director shall cease to be a Director for any reason or a Service Provider ceases to provide services
to the Company or a Related Corporation (and such person is a Participant), the Participant or the Participant's legal representative,
as the case may be, may elect to exercise any Option held by him or her (to the extent of the number of shares with respect to
which he or she could have exercised it on the date of termination) at any time during the 30 day period following the date of
such termination of employment or position on the Board or termination of services of a Service Provider (the "Participant
Termination Date"), or if specifically approved by the Board, at any time prior to the earlier of (x) the expiration date
thereof, or (y) the date that is three (3) years following the Participant Termination Date, provided, however, in the event the
grantee exercises any ISO after the date that is three months following the Participant Termination Date, such ISO will automatically
be converted into an NSO subject to the terms of the Plan. If the Participant fails to exercise such Option prior to the Participant
Termination Date (or such later date as specifically approved by the Board), such Option shall terminate. For the purposes of this
Plan, the transfer of the Employee's employment to the Company or to Related Corporation shall not be considered a termination
of employment and the Employee's rights under an Option shall be the same as if such transfer had not occurred. For purposes of
this Plan, a change in status from Employee to Service Provider, or from Service Provider to Employee, will not constitute a termination
of employment, provided that a change in status from an Employee to Service Provider may cause an ISO to become an NSO under the
Code.

 

		10.	Transfer and Assignment

 

The Participant's rights under Options
granted under the Plan are not assignable or transferable by the Participant or subject to any other alienation, sale, pledge or
encumbrance by such Participant during the Participant's lifetime and therefore the Options are exercisable during the Participant's
lifetime only by the Participant. The obligations of each Participant shall be binding on his or her heirs, executors and administrators.

 

		11.	Employment and Board of Directors Position Non-Contractual

 

The granting of an Option to a Participant
under the Plan does not confer upon the Participant any right to continue in the employment of the Company or any Related Corporation
or as a member of the Board or as a Service Provider, as the case may be, nor does it interfere in any way with the rights of the
Employee or of the Company's rights to terminate the Employee's employment at any time or of the shareholders' right to elect Directors.

 

		12.	Rights As Shareholders

 

Participants shall not have any rights as a shareholder with
respect to Options until exercise and full payment has been made to the Company and a share certificate or share certificates have
been duly issued.

 

		13.	Administration Of The Plan

 

The Plan shall be administered by (i) the
Board or (ii) the Committee. The appointment of the members of, and the delegation of powers to, the Committee by the Board shall
be consistent with applicable laws and regulations (including, without limitation, the Code, Rule 16b-3 promulgated under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or any successor rule thereto ("Rule 16b-3"), and any
applicable state law (collectively, the "Applicable Laws")). Once appointed, such Committee shall continue to serve in
its designated capacity until otherwise directed by the Board. From time to time, the Board may increase the size of the Committee
and appoint additional members thereof, remove members (with or without cause) and appoint new members in substitution therefor,
fill vacancies, however caused, and remove all members of the Committee and thereafter directly administer the Plan, all to the
extent permitted by the Applicable Laws. Any determination with regard to the Plan by the Committee shall be final and conclusive
on all persons affected thereby unless otherwise determined by the Board. The day-to-day administration of the Plan may be delegated
to such officers and Employees as the Committee shall determine.

 

    	 	-6-	 

     

    

 

Subject to ratification of the grant or
authorization of each Option by the Board (if so required by an Applicable Law), and subject to the terms of the Plan, if applicable,,
the Committee, if so appointed, shall have the authority, in its discretion, to:

 

(i) determine
the employees of the Company and Related Corporations (from among the class of employees eligible under Section 3 to receive ISOs)
to whom ISOs may be granted, and to determine (from among the classes of individuals and entities eligible under Section 3 to receive
NSOs) to whom NSOs may be granted;

 

(ii) determine
the time or times at which Options may be granted (which may be based on performance criteria);

 

(iii) determine
the number of Common Shares subject to any Option granted by the Committee;

 

(iv) determine
the Option Price, which price shall not be less than the minimum price specified in Section 4 hereof, as appropriate;

 

(v) determine
whether each Option granted shall be an ISO or NSO;

 

(vi) determine
(subject to Section 5) the time or times when each Option shall become exercisable and the duration of the exercise period;

 

(vii) determine
whether restrictions such as repurchase options are to be imposed on shares subject to Options and the nature of such restrictions,
if any;

 

(viii) approve
forms of agreement for use under the Plan;

 

(ix) accelerate
vesting on any Option or to waive any forfeiture restrictions, or to waive any other limitation or restriction with respect to
an Option;

 

(x) reduce
the exercise price of any Option if the fair market value of the Common Shares covered by such Option shall have declined since
the date the Option was granted, subject to prior approval of the Exchange, if applicable;

 

(xi) institute
a program whereby outstanding Options can be surrendered in exchange for Options with a lower exercise price, subject to prior
approval of the Exchange and/or shareholders of the Company, if applicable;

 

(xii) modify
or amend each Option (subject to Section 5) including the discretionary authority to extend the post-termination exercisability
period of Options longer than is otherwise provided for by terms of the Plan or the Option, subject to prior approval of the Exchange
and/or shareholders of the Company, if applicable;

 

(xiii) construe
and interpret the Plan and Options granted hereunder and prescribe and rescind rules and regulations relating to the Plan; and

 

(xiv) make
all other determinations necessary or advisable for the administration of the Plan.

 

    	 	-7-	 

     

    

 

If the Committee determines to issue a
NSO, it shall take whatever actions it deems necessary, under Section 422 of the Code and the regulations promulgated thereunder,
to ensure that such Option is not treated as an ISO. The interpretation and construction by the Committee of any provisions of
the Plan or of any Option granted under it shall be final unless otherwise determined by the Board. The Committee may from time
to time adopt such rules and regulations for carrying out the Plan as it may deem best. No member of the Board or the Committee
shall be liable for any action or determination made in good faith with respect to the Plan or any Option granted under it.

 

The Committee may select one of its members
as its chairman, and shall hold meetings at such times and places as it may determine. Acts by a majority of the Committee, approved
in person at a meeting or in writing, shall be the valid acts of the Committee. All references in this Plan to the Committee shall
mean the Board if no Committee has been appointed. From time to time the Board may increase the size of the Committee and appoint
additional members thereof, remove members (with or without cause) and appoint new members in substitution therefor, fill vacancies
however caused, or remove all members thereof and thereafter directly administer the Plan.

 

Those provisions of the Plan that make
express reference to Rule 16b-3 shall apply to the Company only at such time as the Company's Common Shares are registered under
the Exchange Act, and then only to such persons as are required to file reports under Section 16(a) of the Exchange Act (a "Reporting
Person").

 

To the extent that Options are to be qualified
as "performance-based" compensation within the meaning of Section 162(m) of the Code, the Plan shall be administered
by a committee consisting of two or more "outside directors" as determined under Section 162(m) of the Code.

 

The Committee, with the consent of any
Participant, may in its discretion take such actions as may be necessary to convert a Participant's ISOs (or any instalments or
portions of instalments thereof) that have not been exercised on the date of conversion into NSOs at any time prior to the expiration
of such ISOs. These actions may include, but not be limited to, accelerating the exercisability, extending the exercise period
or reducing the exercise price of the appropriate instalments of optionee's Options. At the time of such conversion, the Committee
(with the consent of the optionee) may impose these conditions on the exercise of the resulting NSOs as the Committee in its discretion
may determine, provided that the conditions shall not be inconsistent with the Plan. Nothing in the Plan shall be deemed to give
any Participant the right to have such Participant's ISOs converted into NSOs, and no conversion shall occur until and unless the
Committee takes appropriate action.

 

14.         Notices

 

All written notices to be given by the
Participant to the Company may be delivered personally or by registered mail, postage prepaid, addressed as follows:

 

Fennec Pharmaceuticals Inc.

PO Box 13628, 68 TW Alexander Drive

Research Triangle Park, North Carolina 27709

Attention: Corporate Secretary

 

Any notice given by the Participant pursuant
to the terms of the Option shall not be effective until actually received by the Company at the above address. Any notice to be
given to the Participant shall be sufficiently given if delivered personally or by postage prepaid mail to the last address of
the Participant on the records of the Company and shall be effective seven days after mailing.

 

    	 	-8-	 

     

    

 

		15.	Corporate Action

 

Nothing contained in the Plan or in any
agreement evidencing an Option shall be construed so as to prevent the Company or any Related Corporation from taking corporate
action which is deemed by the Company or the Related Corporation to be appropriate or in its best interest, whether or not such
action would have an adverse effect on the Plan.

 

		16.	Amendments

 

The Board shall have the right, in its
sole discretion, to amend, suspend or terminate this Plan or any portion thereof at any time, in accordance with applicable legislation,
without obtaining the approval of shareholders; provided that any amendment to any provision of the Plan will be subject to any
required regulatory approval and the provisions of applicable law, if any, that require the approval of shareholders. Notwithstanding
the foregoing, the Company will be required to obtain the approval of the shareholders of the Company for any amendment related
to (i) the maximum number of Common Shares issuable under the Plan; (ii) a reduction in the Option Price for Options held by insiders;
and (iii) an extension to the term of Options held by insiders. Subject to compliance with the applicable rules of the Exchange
and the NASDAQ Stock Market, no amendment, suspension or termination will alter or impair any Options under the Plan, or any rights
pursuant thereto, granted previously to any Participant without the consent of that Participant.

 

		17.	Interpretation

 

In construing this Plan, the singular shall
include the plural and the masculine gender shall include the feminine and neuter, unless the context otherwise requires.

 

		18.	Government Regulation

 

The Company's obligation to issue and deliver
Common Shares under any Option is subject to:

 

		(a)	the satisfaction of all requirements under applicable
securities law in respect thereof and obtaining all regulatory approvals as the Company shall determine to be necessary or advisable
in connection with the authorization, issuance or sale thereof, including shareholder approval, if required;

 

		(b)	the admission of such Common Shares to listing on the
Exchange or any other stock exchange on which Common Shares may then be listed; and

 

		(c)	the receipt from the Participant of such representations,
agreements and undertakings as to future dealings in such Common Shares as the Company determines to be necessary or advisable
in order to safeguard against the violation of the securities law of any jurisdiction.

 

In this connection, the Company shall take
all reasonable steps to obtain such approvals and registrations as may be necessary for the issuance of such Common Shares in compliance
with applicable securities law and for the listing of such Common Shares on any Exchange on which such Common Shares are then listed.

 

		19.	Withholding of Additional Income Taxes

 

Upon the exercise of an NSO for less than
the Fair Market Value of the Common Shares or the making of a Disqualifying Disposition (as defined in Section 20), the Company,
in accordance with Section 3402(a) of the Code and any applicable state statute or regulation, may require the Participant to pay
to the Company additional withholding taxes in respect of the amount that is considered compensation includable in such person's
gross income. With respect to the exercise of an Option, the Committee in its discretion may condition such event on the payment
by the Participant of any such additional withholding taxes.

 

    	 	-9-	 

     

    

 

At the sole and absolute discretion of
the Committee, the holder of Options may pay all or any part of the total estimated federal and state income tax liability arising
out of the exercise or receipt of such Options or the making of a Disqualifying Disposition (each of the foregoing, a "Tax
Event") by tendering already- owned Common Shares (except in the case of a Disqualifying Disposition) by directing the Company
to withhold Common Shares otherwise to be transferred to the holder of such Options as a result of the exercise or receipt thereof
in an amount equal to the estimated federal and state income tax liability arising out of such event, provided that no more shares
may be withheld than are necessary to satisfy the holder's actual minimum withholding obligation with respect to the exercise of
Options. In such event, the holder of Options must, however, notify the Committee of his or her desire to pay all or any part of
the total estimated federal and state income tax liability arising out of a Tax Event by tendering already-owned Common Shares
or having Common Shares withheld prior to the date that the amount of federal or state income tax to be withheld is to be determined.
For purposes of this Section 19, Common Shares shall be valued at their Fair Market Value on the date that the amount of the tax
withholdings is to be determined.

 

		20.	Notice to Company of Disqualifying Disposition

 

Each Employee who receives an ISO must
agree to notify the Company in writing immediately after the Employee makes a Disqualifying Disposition (as defined below) of any
Common Shares acquired pursuant to the exercise of an ISO. A "Disqualifying Disposition" is any disposition (including
any sale) of such Common Shares before either (a) two years after the date the Employee was granted the ISO, or (b) one year after
the date the Employee acquired Common Shares by exercising the ISO. If the employee has died before such stock is sold, these holding
period requirements do not apply and no Disqualifying Disposition can occur thereafter.

 

		21.	Lock-up Agreement

 

Each recipient of securities hereunder
agrees, in connection with the first registration with the United States Securities and Exchange Commission under the Securities
Act of 1933, as amended, of the public sale of the Company's Common Shares, not to sell, make any short sale of, loan, grant any
option for the purchase of or otherwise dispose of any securities of the Company (other than those included in the registration)
without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed
180 days) from the effective date of such registration as the Company or the underwriters, as the case may be, shall specify. Each
such recipient agrees that the Company may instruct its transfer agent to place stop-transfer notations in its records to enforce
this Section 21. Each such recipient agrees to execute a form of agreement reflecting the foregoing restrictions as requested by
the underwriters managing such offering.

 

    	 	-10-	 

     

    

 

Appendix "A"

Fennec Pharmaceuticals
Inc.

 

Stock Option Plan

 

Stock Option Agreement

 

Date:                           

 

Dear                                :

 

This is to advise you that you have been
granted an option (the "option") to purchase                                
Common Shares at a price of $             per share under the
Fennec Pharmaceuticals Inc. Stock Option Plan (the "Plan").

 

This option expires on the later of [up
to ten] years following the date of grant, which appears on the right hand corner of this Notice, subject to other conditions of
the Plan.

 

Subject to such expiry and the other provisions
of the Plan, this option is exercisable in such amounts and at any time on or after:

 

                  shares
on                                         ,
200     .

 

This option is subject to the terms of
the Plan.

 

Please refer to the Plan explanatory document
for any additional information regarding the exercise of your option and completion of the Option Exercise Form. Please execute
a copy of this grant where indicated below and deliver it to the Corporate Secretary of the Company c/o Fennec Pharmaceuticals
Inc., PO Box 13628, 68 TW Alexander Drive, Research Triangle Park, North Carolina 27709, to acknowledge your acceptance of the
terms hereof.

 

Sincerely,

FENNEC PHARMACEUTICALS INC.

 

Per:        
                                  

 

I have read, understood and accept the
vesting provisions above and each of the terms and conditions described in a document called Fennec Pharmaceuticals Inc. Stock
Option Plan and accept the foregoing grant of options on such basis.

 

Dated the                 day
of                                        ,
          .

 

	 	 
	Signature	 

 

     

     

    

 

Appendix "B"

Fennec Pharmaceuticals
Inc.

 

Stock Option Plan

 

Option Exercise Form

 

	Part 1: Identification	 	 	 
	 	 	 	 
	 	 	 	 
	Name of Participant	 	Service	 
	 	 	 	 
	 	 	 	 
	Address	 	Office Telephone Number	 
	 	 	 	 
	 	 	 	 
	Social Insurance Number	 	Home Telephone Number	 
	 	 	 	 

Part 2: Option

 

I hereby exercise the Option granted to me by letter dated                                   under
the Plan.

 

Total number of option stock exercised:                              

 

	Method of payment:	(a)	Cash
	 	(b)	Certified Cheque
	 	(c)	Bank Draft
	 	(d)	Money Order

 

	 	Amount: ______________________________________
	 	Number of shares:__________ (value:______________)

 

I hereby acknowledge that I have read, understood and accepted
each and all the terms and conditions described in a document called "Fennec Pharmaceuticals Inc. Stock Option Plan".

 

Given at                                   ,
this,                day of                                                           

 

	 	 
	Signature	 

 

    	 	1	 

     

    

 

Appendix "C"

Fennec Pharmaceuticals
Inc.

Stock Option Plan

 

Fennec Pharmaceuticals Inc.

AMENDED AND RESTATED STOCK OPTION PLAN

NOTICE OF STOCK OPTION GRANT

 

	 	 	 
	(Optionee and address)	 	Grant Number
	 	 	 

 

You have been granted an option to purchase
Common Shares of Fennec Pharmaceuticals Inc. (the "Company"), as follows:

 

	 	 	 
	Date of Grant	 	 
	Vesting Commencement Date	 	 
	 	 	 
	Exercise Price per Share	$  	 
	Total Number of Shares Granted	 	 
	Total Exercise Price	 	 
	Type of Option:	_____Incentive Stock Option	 
	 	_____Nonstatutory Stock Option	 
	 	 	 
	Term/Expiration Date:	 	 

 

	Vesting Schedule:	Subject to accelerated vesting as set forth in the Plan or in the Stock Option Agreement, (i) one-third of the shares subject to this option shall vest and may be exercised after the first anniversary of the Vesting Commencement Date; (ii) one-third of the shares subject to this option shall vest and may be exercised after the second anniversary of the Vesting Commencement Date; and (iii) the remaining shares subject to this option shall vest and may be exercised after the third anniversary of the Vesting Commencement Date.

 

	Termination Period:	Option may be exercised for up to 30 days after termination of director, employment or service provider relationship for any reason (unless specifically extended by the Board as set forth in the Plan, but in no event later than the Expiration Date) and will terminate if not exercised prior to the end of such period.

 

By your signature
and the signature of the Company's representative below, you and the Company agree that this option is granted under and governed
by the terms and conditions of the Fennec Pharmaceuticals Inc., Amended and Restated Stock Option Plan (the "Plan") and
the Stock Option Agreement, all of which are attached and made a part of this document.

 

Dated:                                     

 

	OPTIONEE:	 	FENNEC PHARMACEUTICALS INC.
	 	 	 
	 	 	By:	          
	 	 	Name:	 
	 	 	Title:	 
	Print Name	 	 

 

    	 	2	 

     

    

 

STOCK OPTION AGREEMENT

 

1.          Grant
of Option. Fennec Pharmaceuticals Inc., a Canadian corporation (the "Company"), hereby grants to the Optionee named in
the Notice of Grant (the "Optionee"), an option (the "Option") to purchase a total number of Common Shares
(the "Shares") set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the
 "Exercise Price") subject to the terms, definitions and provisions of the Fennec Pharmaceuticals Inc., Amended and Restated
Stock Option Plan (the "Plan") adopted by the Company, which is incorporated herein by reference. Unless otherwise defined
herein, the terms defined in the Plan shall have the same defined meanings in this Option.

 

If designated an Incentive Stock Option,
this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code, or any successor provision.

 

2.          Exercise
of Option. This Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant
and with the provisions of the Plan as follows:

 

(a)          Right
to Exercise.

 

(i)          This
Option may not be exercised for a fraction of a share.

 

(ii)         In
the event of the termination of Optionee's relationship with the Company or any Related Corporations as an Employee, Director or
Service Provider (for any reason whatsoever), the exercisability of the Option is governed by Section 9 of the Plan, subject to
the limitation contained in subsection 2(a)(iii) of this Stock Option Agreement.

 

(iii)        In
no event may this Option be exercised after the Expiration Date set forth in

the Notice of Grant.

 

(b)          Method
of Exercise. This Option shall be exercisable by written notice (in the form attached hereto as Exhibit A) which shall state the
election to exercise the Option, the number of Shares in respect of which the Option is being exercised and such other representations
and agreements as may be required by the Company pursuant to the provisions of the Plan. Such written notice shall be signed by
the Optionee and shall be delivered in person or by registered mail to the Corporate Secretary of the Company. The written notice
shall be accompanied by payment of the Exercise Price. This Option shall be deemed to be exercised upon receipt by the Company
of such written notice accompanied by the Exercise Price.

 

No Shares will be
issued pursuant to the exercise of an Option unless such issuance and such exercise shall comply with all relevant provisions of
law and the requirements of any Exchange upon which the Shares may then be listed. Assuming such compliance, for income tax purposes
the Shares shall be considered transferred to the Optionee on the date on which the Option is exercised with respect to such Shares.

 

3.          Method
of Payment. Payment of the Exercise Price shall be made as set forth in Section 6 of the Plan.

 

4.          Restrictions
on Exercise. This Option may not be exercised until such time as the Plan and the Shares covered by this Option have been approved
by the shareholders of the Company, or if the issuance of such Shares upon such exercise or the method of payment of consideration
for such shares would constitute a violation of any applicable federal, provincial or state securities or other applicable law
or regulation, including any rule under Part 207 of Title 12 of the Code of Federal Regulations ("Regulation G") as promulgated
by the Federal Reserve Board. As a condition to the exercise of this Option, the Company may require Optionee to make any representation
and warranty to the Company as may be required by any applicable law or regulation.

 

    	 	3	 

     

    

 

5.          Nontransferability
of Option. This Option may not be transferred in any manner whatsoever and may be exercised during the lifetime of Optionee only
by Optionee. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the
Optionee.

 

6.          Term
of Option. This Option may be exercised only within the term set out in the Notice of Grant and the Plan, and may be exercised
during such term only in accordance with the Plan and the terms of this Option. The limitations set out in Section 4 of the Plan
regarding Options designated as Incentive Stock Options and Options granted to more than ten percent (10%) stockholders shall apply
to this Option.

 

7.          Taxation
Upon Exercise of Option. Optionee understands that, upon exercising a Nonstatutory Stock Option, he or she may recognize income
for tax purposes in an amount equal to the excess of the then Fair Market Value of the Shares over the exercise price. If the Optionee
is an employee, the Company may be required to withhold from Optionee's compensation, or collect from Optionee and pay to the applicable
taxing authorities an amount equal to a percentage of this compensation income. Additionally, the Optionee may at some point be
required to satisfy tax withholding obligations with respect to the Disqualifying Disposition of an ISO. The Optionee shall satisfy
his or her tax withholding obligation arising upon the exercise of this Option by one or some combination of the following methods:
(i) by cash payment, or (ii) out of Optionee's current employment compensation.

 

8.          Tax
Consequences. THERE ARE TAX CONSEQUENCES RESULTING FROM THE EXERCISE OF THIS OPTION OR DISPOSITION OF THE SHARES ACQUIRED PURSUANT
TO THIS OPTION. OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.

 

9.          Successors
and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement
shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth,
this Agreement shall be binding upon Optionee and his or her heirs, executors, administrators, successors and assigns.

 

10.         Interpretation.
Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or by the Company forthwith to the Committee,
which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Committee shall be final and
binding on the Company and on Optionee.

 

11.         Severability.
Should any provision of this Agreement be determined by a court of law to be illegal or unenforceable, the other provisions shall
nevertheless remain effective and shall remain enforceable.

 

12.         Notices.
Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery
or upon deposit in the United States mail by registered mail, with postage and fees prepaid, addressed to the other party at its
address as shown below beneath its signature, such address as may be set forth in Section 14 of the Plan or to such other address
as such party may designate in writing from time to time to the other party.

 

13.         Further
Instruments. The parties agree to execute such further instruments and to take such further action as may be reasonably necessary
to carry out the purposes and intent of this Agreement.

 

14.         Stock
Plan. Optionee acknowledges receipt of a copy of the Plan and represents that Optionee is familiar with the terms and provisions
thereof, and hereby accepts this Option subject to all of the terms and provisions thereof. Optionee has reviewed the Plan and
this Option in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option and fully
understands all provisions of the Option. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations
of the Committee upon any questions arising under the Plan or this Option.

 

    	 	4	 

     

    

 

EXHIBIT A

EXERCISE NOTICE

 

	 	 
	 	 
	 	 

Attention:                  

 

1.          Exercise
of Option. Effective as of today, the undersigned ("Optionee") hereby elects to exercise Optionee's option to purchase
                          Common
Shares (the "Shares") of Fennec Pharmaceuticals Inc. (the "Company"), under and pursuant to the Company's Amended
and Restated Stock Option Plan, as amended (the "Plan") and the Incentive Nonstatutory Stock Option Agreement dated                                       ,
                 (the "Option Agreement").
The purchase price for the Shares shall be $ as required by the Option Agreement. Optionee herewith delivers to the Company the
full Exercise Price for the Shares.

 

2.          Representations
of Optionee. Optionee acknowledges that Optionee has received, read and understood the Plan and the Option Agreement and agrees
to abide by and be bound by their terms and conditions.

 

3.          Compliance
with Securities Laws. Optionee understands and acknowledges that, notwithstanding any other provision of the Option Agreement to
the contrary, the exercise of any rights to purchase any Shares is expressly conditioned upon compliance with the Securities Act
of 1933, as amended (the "Securities Act"), all appli- cable state, provincial or other federal securities laws and all
applicable requirements of any Exchange or over the counter market on which the Common Shares may be listed or traded at the time
of exercise and transfer. Optionee agrees to cooperate with the Company to ensure compliance with such laws.

 

4.          Rights
as Stockholder. Until the stock certificate evidencing such Shares is issued (as evidenced by the appropriate entry on the books
of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights
as a stockholder shall exist with respect to the optioned Shares, notwithstanding the exercise of the Option. The Company shall
issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend
or other right for which the record date is prior to the date the stock certificate is issued, except as provided in the Plan.

 

5.          Tax
Consultation. Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee's purchase or disposition
of the Shares. Optionee represents that Optionee has consulted with any tax consultants Optionee deems advisable in connection
with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice.

 

6.          Entire
Agreement. The Plan and Notice of Grant/Option Agreement are incorporated herein by reference. This Exercise Notice, the Plan and
the Notice of Grant/Option Agreement executed and delivered to Company by Optionee shall constitute the entire agreement of the
parties and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject
matter hereof, and is governed by North Carolina law except for that body of law pertaining to conflict of laws.

 

	Submitted by:	 	Accepted by:
	 	 	 
	OPTIONEE:	 	FENNEC PHARMACEUTICALS INC.
	 	 	 
	 	 	By:	                       
	 	 	Name:	 
	Address: __________________________________	 	Title:EX-4.1

 Exhibit 4.1 

BANK OF AMERICA CORPORATION 
 FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES JJ 

DEPOSIT AGREEMENT 
 among 

BANK OF AMERICA CORPORATION, 

COMPUTERSHARE INC., 
 and 

COMPUTERSHARE TRUST COMPANY, N.A., together, the Depository, 

and 
 THE HOLDERS FROM TIME TO
TIME OF 
 THE DEPOSITARY RECEIPTS DESCRIBED HEREIN 

Dated as of June 19, 2019 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	 
	DEFINED TERMS	 
			
	 Section 1.1.
	 	Definitions.	  	 	1	 
	
	ARTICLE II	 
	 APPOINTMENT OF DEPOSITORY; BOOK-ENTRY SYSTEM; FORM OF RECEIPTS;

DEPOSIT OF STOCK; EXECUTION AND DELIVERY; TRANSFER, SURRENDER

AND REDEMPTION OF RECEIPTS
	 
			
	 Section 2.1.
	 	Appointment of Depository	  	 	2	 
	 Section 2.2.
	 	Book-Entry System; Form and Transfer of Receipts	  	 	2	 
	 Section 2.3.
	 	Deposit of Stock; Execution and Delivery of Receipts	  	 	5	 
	 Section 2.4.
	 	Registration of Transfer of Receipts	  	 	6	 
	 Section 2.5.
	 	Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Stock	  	 	6	 
	 Section 2.6.
	 	Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts	  	 	7	 
	 Section 2.7.
	 	Lost Receipts, etc.	  	 	7	 
	 Section 2.8.
	 	Cancellation and Destruction of Surrendered Receipts	  	 	8	 
	 Section 2.9.
	 	Redemption of Stock	  	 	8	 
	 Section 2.10.
	 	Deposits	  	 	9	 
	
	ARTICLE III	 
	CERTAIN OBLIGATIONS OF HOLDERS OF	 
	RECEIPTS AND THE CORPORATION	 
			
	 Section 3.1.
	 	Filing Proofs; Certificates and Other Information	  	 	10	 
	 Section 3.2.
	 	Payment of Taxes or Other Governmental Charges	  	 	10	 
	 Section 3.3.
	 	Warranty as to Stock	  	 	10	 
	 Section 3.4.
	 	Warranty as to Receipts	  	 	10	 
	
	ARTICLE IV	 
	THE DEPOSITED SECURITIES; NOTICES	 
			
	 Section 4.1.
	 	Cash Distributions	  	 	11	 
	 Section 4.2.
	 	Distributions Other than Cash, Rights, Preferences or Privileges	  	 	11	 
	 Section 4.3.
	 	Subscription Rights, Preferences or Privileges	  	 	12	 
	 Section 4.4.
	 	Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts	  	 	13	 
	 Section 4.5.
	 	Voting Rights	  	 	13	 
	 Section 4.6.
	 	Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc.	  	 	13	 
	 Section 4.7.
	 	Delivery of Reports	  	 	14	 
	 Section 4.8.
	 	Lists of Receipt Holders	  	 	14	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	ARTICLE V	 
	THE DEPOSITORY, THE DEPOSITORY’S	 
	AGENTS, THE REGISTRAR AND THE CORPORATION	 
			
	 Section 5.1.
	 	Maintenance of Offices, Agencies and Transfer Books by the Depository; Registrar; Depository’s Agents	  	 	14	 
	 Section 5.2.
	 	Prevention of or Delay in Performance by the Depository, the Depository’s Agents, the Registrar or the Corporation	  	 	15	 
	 Section 5.3.
	 	Obligations of the Depository, the Depository’s Agents, the Registrar and the Corporation	  	 	16	 
	 Section 5.4.
	 	Resignation and Removal of the Depository; Appointment of Successor Depository	  	 	18	 
	 Section 5.5.
	 	Corporate Notices and Reports	  	 	18	 
	 Section 5.6.
	 	Indemnification by the Corporation	  	 	19	 
	 Section 5.7.
	 	Fees, Charges and Expenses	  	 	19	 
	 Section 5.8.
	 	Tax Compliance	  	 	20	 
	
	ARTICLE VI	 
	AMENDMENT AND TERMINATION	 
			
	 Section 6.1.
	 	Amendment	  	 	20	 
	 Section 6.2.
	 	Termination	  	 	21	 
	
	ARTICLE VII	 
	MISCELLANEOUS	 
			
	 Section 7.1.
	 	Counterparts	  	 	21	 
	 Section 7.2.
	 	Exclusive Benefit of Parties	  	 	21	 
	 Section 7.3.
	 	Invalidity of Provisions	  	 	21	 
	 Section 7.4.
	 	Notices	  	 	21	 
	 Section 7.5.
	 	Appointment of Registrar and Transfer Agent, Dividend Disbursing Agent and Redemption Agent	  	 	22	 
	 Section 7.6.
	 	Holders of Receipts Are Parties	  	 	23	 
	 Section 7.7.
	 	Governing Law	  	 	23	 
	 Section 7.8.
	 	Headings	  	 	23	 
			
	 Exhibit A
	 	Form of Receipt	  	 	A-1	 

  
 -ii- 

 THIS DEPOSIT AGREEMENT dated as of June 19, 2019 (this “Agreement”),
among (i) BANK OF AMERICA CORPORATION, a Delaware corporation (the “Corporation”), (ii) COMPUTERSHARE INC., a Delaware corporation (“Computershare”), and COMPUTERSHARE TRUST COMPANY, N.A., a national banking association and
the wholly-owned subsidiary of Computershare (the “Trust Company” and together with Computershare, the “Depository”), and (iii) the Holders from time to time of the Receipts described in this Agreement. 

RECITALS 
 WHEREAS,
the parties desire to provide, as set forth in this Agreement, for the deposit of shares of the Corporation’s perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series JJ, $0.01 par value, from time to time with the Depository for the purposes set forth in this Agreement and for the issuance hereunder of Receipts (as defined herein)
evidencing Depositary Shares (as defined herein) in respect of the Stock (as defined herein) so deposited; and 
 WHEREAS, the
Receipts are to be substantially in the form of Exhibit A annexed hereto, with appropriate insertions, modifications and omissions, as hereinafter provided in this Agreement; 

NOW, THEREFORE, in consideration of the premises, the parties hereto agree as follows: 

ARTICLE I 
 DEFINED TERMS

  

	 	Section 1.1.	 Definitions. 

The following definitions shall for all purposes, unless otherwise indicated, apply to the respective terms used in this Agreement: 

“Certificate” shall mean the Certificate of Designations filed or to be filed with the Secretary of State of the State of Delaware
establishing the Stock as a series of preferred stock of the Corporation. 
 “Corporation” shall mean Bank of America Corporation,
a Delaware corporation, and its successors. 
 “Deposit Agreement” shall mean this Agreement, as amended or supplemented from time
to time in accordance with the terms hereof. 
 “Depository” shall have the meaning set forth in the Preamble of this Agreement.

 “Depositary Shares” shall mean the depositary shares, each representing one
one-twenty-fifth of a share of the Stock and evidenced by a Receipt. 
  

 “Depository’s Agent” shall mean an agent appointed by the Depository pursuant
to Section 5.1. 
 “Depository’s Office” shall mean the principal office of the Depository in Canton, Massachusetts, at
which at any particular time its depositary receipt business shall be administered. 
 “Receipt” shall mean one of the depositary
receipts issued hereunder, substantially in the form set forth as Exhibit A hereto, whether in definitive or temporary form, and evidencing the number of Depositary Shares held of record by the Record Holder of those Depositary Shares and
shall include the DTC Receipt, as defined in Section 2.2, where appropriate. 
 “Record Holder” or “Holder” as
applied to a Receipt shall mean the person in whose name that Receipt is registered on the books of the Depository maintained for such purpose. 

“Registrar” shall mean the Trust Company or such other successor bank or trust company which shall be appointed by the Corporation
to register ownership and transfers of Receipts as herein provided, and, if a successor Registrar shall be so appointed, references herein to “the books” of or maintained by the Registrar shall be deemed, as applicable, to refer as well to
the register maintained by such successor Registrar for such purpose. 
 “Securities Act” shall mean the Securities Act of 1933,
as amended. 
 “Stock” shall mean the shares of the Corporation’s Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series JJ, $0.01 par value, with a liquidation preference of $25,000 per share, designated in the Certificate.

 “Transfer Agent” shall mean the Trust Company or such other successor bank or trust company which shall be appointed by the
Corporation to transfer the Receipts and the deposited Stock. 
 ARTICLE II 

APPOINTMENT OF DEPOSITORY; BOOK-ENTRY SYSTEM; FORM OF RECEIPTS; 

DEPOSIT OF STOCK; EXECUTION AND DELIVERY; TRANSFER, SURRENDER 

AND REDEMPTION OF RECEIPTS 
  

	 	Section 2.1.	 Appointment of Depository 

The Corporation hereby appoints Computershare and Trust Company, collectively, as Depository for the Stock, and each of Computershare and Trust
Company hereby accepts such appointment as Depository for the Stock, on the terms and conditions set forth in this Agreement. 
  

	 	Section 2.2.	 Book-Entry System; Form and Transfer of Receipts. 

The Corporation and the Depository shall make application to The Depository Trust Company (“DTC”) for acceptance of all of the
Receipts for its book-entry settlement system. The Corporation hereby appoints the Depository acting through any authorized officer thereof as its attorney-in-fact, with
full power to delegate, for purposes of executing any agreements, 

  
 2 

 
certifications or other instruments or documents necessary or desirable in order to effect the acceptance of such Receipts for DTC eligibility. So long as the Receipts are eligible for book-entry
settlement with DTC, unless otherwise required by law, all Depositary Shares with book-entry settlement through DTC shall be represented by a single receipt (the “DTC Receipt”), which shall be deposited with DTC (or its designee)
evidencing all such Depositary Shares and registered in the name of the nominee of DTC (initially expected to be Cede & Co.). The Depository or such other entity as is agreed to by DTC may hold the DTC Receipt as custodian for DTC.
Ownership of beneficial interests in the DTC Receipt shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) DTC or its nominee for such DTC Receipt or (ii) institutions that have accounts
with DTC. The DTC Receipt shall bear such legend or legends as may be required by DTC in order for it to accept the Depositary Shares for its book-entry settlement system. 

If DTC subsequently ceases to make its book-entry settlement system available for the Receipts, the Corporation may instruct the Depository
regarding making other arrangements for book-entry settlement. If the Receipts are not eligible for book-entry form, the Depository shall provide written instructions to DTC to deliver the DTC Receipt to the Depository for cancellation and the
Corporation shall instruct the Depository to deliver to the beneficial owners of the Depositary Shares previously evidenced by the DTC Receipt definitive Receipts in physical form evidencing such Depositary Shares. 

Beneficial owners of Depositary Shares through DTC will not be entitled to receive Receipts in physical, certificated form or have Depositary
Shares registered in their name, except as described below. 
 The DTC Receipt shall be exchangeable for definitive Receipts only if
(i) DTC notifies the Corporation at any time that it is unwilling or unable to continue to make its book-entry settlement available for the Receipts and a successor to DTC is not appointed by the Corporation within 90 days of the date the
Corporation is so informed in writing, (ii) DTC notifies the Corporation at any time that it has ceased to be a clearing agency registered under applicable law and a successor to DTC is not appointed within 90 days of the date the Corporation
is so informed in writing, or (iii) the Corporation in its sole discretion notifies the Depository in writing that the DTC Receipt shall be exchangeable for definitive Receipts. If beneficial owners of interests in Depositary Shares are
entitled to exchange such interests for definitive Receipts as the result of an event described in clause (i), (ii) or (iii) of the preceding sentence, then without unnecessary delay but in any event not later than the earliest date on which
such beneficial interests may be so exchanged, upon receipt by the Depository of the DTC Receipt for cancellation and any other necessary documentation, the Depository is hereby directed to and shall execute and deliver to the beneficial owners of
the Depositary Shares previously evidenced by the DTC Receipt definitive Receipts in physical form evidencing such Depositary Shares and to make appropriate entries in the register with respect thereto. 

Receipts shall be in denominations of any number of whole Depositary Shares. The Corporation shall deliver to the Depository from time to time
such quantities of Receipts as the Depository may request to enable the Depository to perform its obligations under this Agreement. 

  
 3 

 The DTC Receipt and definitive Receipts, if any, shall be substantially in the form set
forth in Exhibit A annexed to this Agreement and incorporated herein by reference, with appropriate insertions, modifications and omissions, as hereinafter provided and shall be engraved or otherwise prepared so as to comply with applicable
rules of any securities exchange on which the Depositary Shares are then listed. In the case of any of the events described above resulting in the issuance of definitive Receipts in exchange for the DTC Receipt, the Depository, pending preparation
of definitive Receipts and upon the written order of the Corporation, delivered in compliance with Section 2.3, shall execute and deliver temporary Receipts which may be printed, lithographed or otherwise substantially of the tenor of the
definitive Receipts in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the persons executing such Receipts may determine, as evidenced by their execution of such Receipts. If
temporary Receipts are issued, the Corporation and the Depository will cause definitive Receipts to be prepared without unreasonable delay. After the preparation of definitive Receipts, the temporary Receipts shall be exchangeable by the Holder for
definitive Receipts upon surrender of the temporary Receipts at an office described in the first paragraph of Section 2.3, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Receipts, the Depository shall
execute and deliver in exchange therefor definitive Receipts representing the same number of Depositary Shares as represented by the surrendered temporary Receipt or Receipts. Such exchange shall be made at the Corporation’s expense and without
any charge therefor to the Holder or the Depository. Until so exchanged, the temporary Receipts shall in all respects be entitled to the same benefits under this Agreement as definitive Receipts. 

Receipts shall be executed by the Depository by the manual or facsimile signature of a duly authorized officer of the Depository; provided
that, if a Registrar for the Receipts (other than the Trust Company) shall have been appointed, such Receipts shall also be countersigned by manual or facsimile signature of a duly authorized officer of such Registrar. No Receipt shall be entitled
to any benefits under this Agreement or be valid or obligatory for any purpose unless it shall have been executed as described in the preceding sentence. The Registrar shall record on its books each Receipt so signed and delivered as hereinafter
provided. Receipts bearing the manual or facsimile signature of a duly authorized signatory of the Depository who was at any time a proper and duly authorized signatory of the Depository shall bind the Depository, notwithstanding that such signatory
ceased to hold such office prior to the delivery of such Receipts or did not hold such office on the date of issuance of such receipts. 

Receipts may be endorsed with, or have incorporated in the text thereof, such legends or recitals or changes not inconsistent with the
provisions of this Agreement all as may be required by the Corporation or required to comply with any applicable law or any regulation thereunder or with the rules and regulations of any securities exchange upon which the Stock, the Depositary
Shares or the Receipts may be listed or to conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any particular Receipts are subject. 

Title to Depositary Shares evidenced by a Receipt which is properly endorsed, or accompanied by a properly executed instrument of transfer,
shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until transfer of any particular Receipt shall be registered on the books of the Registrar as provided in Section 2.4, the
Depository may, notwithstanding any notice to the contrary, treat the Record Holder 

  
 4 

 
thereof at such time as the absolute owner thereof for the purpose of determining the person entitled to distributions of dividends or other distributions or to any notice provided for in this
Agreement and for all other purposes. 
  

	 	Section 2.3.	 Deposit of Stock; Execution and Delivery of Receipts. 

Subject to the terms and conditions of this Agreement, the Corporation may from time to time deposit shares of Stock under this Agreement by
delivery to the Depository, including via electronic book-entry, for such shares of Stock to be deposited (or in such other manner as may be agreed to by the Company and the Depository), properly endorsed or accompanied, if required by the
Depository, by a duly executed instrument of transfer or endorsement, in form satisfactory to the Depository, together with (i) all such certifications as may be required by the Depository in accordance with the provisions of this Agreement,
including the resolutions of the Board of Directors of the Corporation or a committee of the Board of Directors, as certified by the Secretary or any Assistant Secretary of the Corporation on the date thereof as being complete, accurate and in
effect, relating to issuance and sale of the Stock, (ii) an opinion of counsel to the Corporation addressed to the Depository containing opinions, or a letter of counsel to the Corporation authorizing reliance on such counsel’s opinions
delivered to the underwriters named therein, relating to, (A) the existence and good standing of the Corporation, (B) the due authorization of the Depositary Shares and the status of the Depositary Shares as validly issued, fully paid and non-assessable, and (C) the effectiveness of any registration statement under the Securities Act relating to the Depositary Shares, and (iii) a written order of the Corporation, directing the Depository to
execute and deliver to, or upon the written order of, the person or persons stated in such order a Receipt or Receipts for the number of Depositary Shares representing such deposited Stock. Shares of deposited Stock shall be held by the Depository
in an account to be established by the Depository at the Depository’s Office, or at such other place or places as the Depository shall determine. As Registrar and Transfer Agent for the deposited Stock, Trust Company will reflect changes in the
number of shares of deposited Stock held by it by notation, book-entry or other appropriate method. 
 Upon receipt by the Depository of
shares of Stock deposited in accordance with the provisions of this Section 2.3, together with the other documents required as above specified, and upon registering the Stock on the books of the Corporation (or its duly appointed Transfer
Agent) in the name of the Depository or its nominee, the Depository, subject to the terms and conditions of this Agreement, shall execute and deliver to, or upon the order of, the person or persons named in the written order delivered to the
Depository referred to in the first paragraph of this Section 2.3, a Receipt or Receipts evidencing in the aggregate the number of Depositary Shares representing the Stock so deposited and registered in such name or names as may be requested by
such person or persons. The Depository shall execute and deliver such Receipt or Receipts at the Depository’s Office or such other offices, if any, as the Depository may designate. Delivery at other offices shall be at the risk and expense of
the person requesting such delivery. 
  

	 	Section 2.4.	 Registration of Transfer of Receipts. 

Subject to the terms and conditions of this Agreement, the Trust Company, as Registrar and Transfer Agent for the Receipts, shall register on
its books from time to time transfers of 

  
 5 

 
Receipts upon any surrender thereof by the Holder in person or by duly authorized attorney, properly endorsed or accompanied by a properly executed instrument of transfer, including a guarantee
of the signature thereon from an eligible guarantor institution participating in a signature guarantee program approved by the Securities Transfer Association, Inc. (the “Signature Guarantee”), and any other evidence of authority as may be
reasonably required by the Trust Company (or successor Registrar or Transfer Agent). Thereupon, the Depository shall execute a new Receipt or Receipts evidencing the same aggregate number of Depositary Shares as those evidenced by the Receipt or
Receipts surrendered and deliver such new Receipt or Receipts to or upon the order of the person entitled thereto. 
  

	 	Section 2.5.	 Split-ups and Combinations of Receipts; Surrender of Receipts and
Withdrawal of Stock. 

 Upon surrender of a Receipt or Receipts at the Depository’s Office or at such other offices as
it may designate for the purpose of effecting a split-up or combination of such Receipt or Receipts, and subject to the terms and conditions of this Agreement, the Depository shall execute a new Receipt or
Receipts in the authorized denomination or denominations requested, evidencing the aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered, and shall deliver such new Receipt or Receipts to or upon the order of the
Holder of the Receipt or Receipts so surrendered. 
 Any Holder of a Receipt or Receipts may withdraw the number of whole shares of Stock
and all money represented thereby by surrendering such Receipt or Depositary Shares represented by the Receipts at the Depository’s Office or at such other offices as the Depository may designate for such withdrawals. Thereafter, without
unreasonable delay, the Depository shall deliver to such Holder, or to the person or persons designated by such Holder as hereinafter provided, the number of whole shares of Stock and all money represented by the Receipt or Receipts, or Depositary
Shares represented by such Receipt or Receipts, so surrendered for withdrawal, but Holders of such whole shares of Stock will not thereafter be entitled to deposit such Stock hereunder or to receive a Receipt evidencing Depositary Shares therefor.
If a Receipt delivered by the Holder to the Depository in connection with such withdrawal shall evidence a number of Depositary Shares in excess of the number of Depositary Shares representing the number of whole shares of Stock to be withdrawn, the
Depository shall at the same time, in addition to such number of whole shares of Stock and such money to be so withdrawn, deliver to such Holder, or subject to Section 2.4 upon his order, a new Receipt evidencing such excess number of
Depositary Shares; provided, however, that the Depository shall not issue any Receipt evidencing a fractional Depositary Share. 
 Delivery
of the Stock and money being withdrawn may be made by the delivery of such certificates, documents of title and other instruments as the Depository may deem appropriate (or in such other manner as may be agreed to by the Company and the Depository),
which, if required by the Depository, shall be properly endorsed or accompanied by proper instruments of transfer including, but not limited to, a Signature Guarantee. 

If the Stock and the money being withdrawn are to be delivered to a person or persons other than the Record Holder of the related Receipt or
Receipts being surrendered for withdrawal of such Stock, such Holder shall execute and deliver to the Depository a written order so 

  
 6 

 
directing the Depository, and the Depository may require that the Receipt or Receipts surrendered by such Holder for withdrawal of such shares of Stock be properly endorsed in blank or
accompanied by a properly executed instrument of transfer in blank. 
 Delivery of the Stock and the money represented by Receipts
surrendered for withdrawal shall be made by the Depository at the Depository’s Office, except that, at the request, risk and expense of the Holder surrendering such Receipt or Receipts and for the account of the Holder thereof, such delivery
may be made at such other place as may be designated by such Holder. 
  

	 	Section 2.6.	 Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts. 

As a condition precedent to the execution and delivery, registration of transfer, split-up,
combination, surrender or exchange of any Receipt, the Depository, any of the Depository’s Agents or the Corporation may require payment to it of a sum sufficient for the payment (or, in the event that the Depository or the Corporation shall
have made such payment, the reimbursement to it) of any charges or expenses payable by the Holder of a Receipt pursuant to Sections 3.2 and 5.7, may require the production of evidence satisfactory to it as to the identity and genuineness of any
signature, including a Signature Guarantee, and may also require compliance with such regulations, if any, as the Depository or the Corporation may establish consistent with the provisions of this Agreement and applicable law and as may be required
by any securities exchange on which the Stock, the Depositary Shares or the Receipts may be listed. 
 The deposit of the Stock may be
refused, the delivery of Receipts against Stock may be suspended, the registration of transfer of Receipts may be refused and the registration of transfer, surrender or exchange of outstanding Receipts may be suspended (i) during any period
when the register of stockholders of the Corporation is closed or (ii) if any such action is deemed necessary or advisable by the Depository, any of the Depository’s Agents or the Corporation at any time or from time to time because of any
requirement of law or of any government or governmental body or commission or under any provision of this Agreement. 
  

	 	Section 2.7.	 Lost Receipts, etc. 

In case any Receipt shall be mutilated, destroyed, lost or stolen, the Depository in its discretion may execute and deliver a Receipt of like
form and tenor in exchange and substitution for such mutilated Receipt upon cancellation thereof, or in lieu of and in substitution for such destroyed, lost or stolen Receipt, upon (i) the filing by the Holder thereof with the Depository of
evidence satisfactory to the Depository of such destruction or loss or theft of such Receipt, of the authenticity thereof and of his or her ownership thereof; (ii) the Holder thereof furnishing of the Depository with reasonable indemnification
satisfactory to the Depository and the provision of an open penalty surety bond satisfactory to the Depository and holding it and the Corporation harmless; and (iii) the payment of any reasonable expense (including reasonable fees, charges and
expenses of the Depository) in connection with such execution and delivery. 

  
 7 

	 	Section 2.8.	 Cancellation and Destruction of Surrendered Receipts. 

All Receipts surrendered to the Depository or any Depository’s Agent shall be cancelled by the Depository. Except as prohibited by
applicable law or regulation, the Depository is authorized and directed to destroy all Receipts so cancelled. 
  

	 	Section 2.9.	 Redemption of Stock. 

Whenever the Corporation shall be permitted and shall elect to redeem shares of Stock in accordance with the terms of the Certificate, it shall
(unless otherwise agreed to in writing with the Depository) give or cause to be given to the Depository, not less than 30 days and not more than 60 days prior to the Redemption Date (as defined below), notice of the date of such proposed redemption
of Stock and of the number of such shares held by the Depository to be so redeemed and the applicable redemption price, which notice shall be accompanied by a certificate from the Corporation stating that such redemption of Stock is in accordance
with the provisions of the Certificate. On the Redemption Date, provided that the Corporation shall then have paid or caused to be paid in full to Computershare the redemption price of the Stock to be redeemed, which redemption price shall include,
if required by the provisions of the Certificate, an amount equal to any accrued and unpaid dividends thereon to the date fixed for redemption and any other applicable amounts, all in accordance with the provisions of the Certificate, the Depository
shall redeem the number of Depositary Shares representing such Stock. The Depository shall mail notice of the Corporation’s redemption of Stock and the proposed simultaneous redemption of the number of Depositary Shares representing the Stock
to be redeemed by first-class mail, postage prepaid (or another reasonably acceptable transmission method), not less than 30 days and not more than 60 days prior to the date fixed for redemption of such Stock and Depositary Shares (the
“Redemption Date”), to the Record Holders of the Receipts evidencing the Depositary Shares to be so redeemed at their respective last addresses as they appear on the records of the Depository; but neither failure to mail any notice of
redemption of Depositary Shares to one or more Holders nor any defect in any notice of redemption of Depositary Shares to one or more Holders shall affect the sufficiency of the proceedings for redemption as to the other Holders. Each notice shall
be prepared by the Corporation and shall state: (i) the Redemption Date; (ii) the number of Depositary Shares to be redeemed and, if less than all the Depositary Shares held by any Holder are to be redeemed, the number of Depositary Shares
held by such Holder to be so redeemed; (iii) the redemption price; (iv) the place or places where Receipts evidencing such Depositary Shares are to be surrendered for payment of the redemption price; and (v) that dividends in respect
of the Stock represented by the Depositary Shares to be redeemed will cease to accrue on such Redemption Date. In case less than all the outstanding Depositary Shares are to be redeemed, the Depositary Shares to be so redeemed shall be selected
either pro rata or by lot. 
 Notice having been mailed (or transmitted) by the Depository as aforesaid, from and after the Redemption Date
(unless the Corporation shall have failed to provide the funds necessary to redeem the Stock evidenced by the Depositary Shares called for redemption) (i) dividends on the shares of Stock so called for Redemption shall cease to accrue from and
after such date, (ii) the Depositary Shares being redeemed from such proceeds shall be deemed no longer to be outstanding, (iii) all rights of the Holders of Receipts evidencing such Depositary Shares (except the right to receive the
redemption price) shall, to the extent of such Depositary Shares, cease 

  
 8 

 
and terminate, and (iv) upon surrender in accordance with such redemption notice of the Receipts evidencing any such Depositary Shares called for redemption (properly endorsed or assigned
for transfer, if the Depository or applicable law shall so require), such Depositary Shares shall be redeemed by Computershare at a redemption price per Depositary Share equal to one one-twenty-fifth of the
redemption price per share of Stock so redeemed plus all money represented by such Depositary Shares, including, if required by the provisions of the Certificate, all amounts paid by the Corporation in respect of dividends which on the Redemption
Date have been declared on the shares of Stock to be so redeemed and have not theretofore been paid. 
 If fewer than all of the Depositary
Shares evidenced by a Receipt are called for redemption, the Depository will deliver to the Holder of such Receipt upon its surrender to the Depository, together with the redemption payment, a new Receipt evidencing the Depositary Shares evidenced
by such prior Receipt and not called for redemption; provided, however, that the Depository shall not issue any Receipt evidencing a fractional Depositary Share and cash will be payable in respect of fractional interests. 

Computershare shall, to the extent permitted by law, release or repay to the Corporation any funds deposited by or for the account of the
Corporation for the purpose of redeeming any Depositary Shares that remain unclaimed at the end of three years from the applicable Redemption Date, without further action necessary on the part of the Corporation. 

 

	 	Section 2.10.	 Deposits. 

All funds received by Computershare under this Agreement that are to be distributed or applied by Computershare in the performance of services
hereunder (the “Funds”) shall be held by Computershare as agent for the Corporation and deposited in one or more bank accounts to be maintained by Computershare in its name as agent for the Corporation. Until paid pursuant to this
Agreement, Computershare may hold or invest the Funds through such accounts in: (i) obligations of, or guaranteed by, the United States of America, (ii) commercial paper obligations rated A-1 or P-1 or better by Standard & Poor’s Corporation (“S&P”) or Moody’s Investors Service, Inc. (“Moody’s”), respectively, (iii) money market funds that comply with
Rule 2a-7 of the Investment Company Act of 1940, or (iv) demand deposit accounts, short-term certificates of deposit, bank repurchase agreements or bankers’ acceptances, of commercial banks with Tier
1 capital exceeding $1 billion or with an average rating above investment grade by S&P (LT Local Issuer Credit Rating), Moody’s (Long Term Rating) and Fitch Ratings, Inc. (LT Issuer Default Rating) (each as reported by Bloomberg
Finance L.P.). Computershare shall bear responsibility and liability to the Corporation for any diminution of the Funds, other than those resulting from a default by Bank of America, National Association (“BANA”), with respect to one or
more bank accounts in which the Funds are deposited that is maintained by Computershare at BANA in accordance with the foregoing. Computershare may from time to time receive interest, dividends or other earnings in connection with such deposits or
investments. Computershare shall not be obligated to pay such interest, dividends or earnings to the Corporation, any Holder or any other party. 

  
 9 

 ARTICLE III 

CERTAIN OBLIGATIONS OF HOLDERS OF 

RECEIPTS AND THE CORPORATION 
  

	 	Section 3.1.	 Filing Proofs; Certificates and Other Information. 

Any Holder of a Receipt may be required from time to time to file proof of residence, or other matters or other information, to execute
certificates and to make such representations and warranties as the Depository or the Corporation may reasonably deem necessary or proper. The Depository or the Corporation may withhold the delivery, or delay the registration of transfer or
redemption, of any Receipt or the withdrawal of the Stock represented by the Depositary Shares and evidenced by a Receipt or the distribution of any dividend or other distribution or the sale of any rights or of the proceeds thereof until such proof
or other information is filed or such certificates are executed or such representations and warranties are made. 
  

	 	Section 3.2.	 Payment of Taxes or Other Governmental Charges. 

Holders of Receipts shall be obligated to make payments to the Depository of certain charges and expenses, as provided in Section 5.7.
Registration of transfer of any Receipt or any withdrawal of Stock and all money represented by the Depositary Shares evidenced by such Receipt may be refused until any such payment due is made, and any dividends , interest payments or other
distributions may be withheld or any part of or all the Stock represented by the Depositary Shares evidenced by such Receipt and not theretofore sold may be sold for the account of the Holder thereof (after attempting by reasonable means to notify
such Holder prior to such sale), and such dividends , interest payments or other distributions or the proceeds of any such sale may be applied to any payment of such charges or expenses, the Holder of such Receipt remaining liable for any
deficiency. 
  

	 	Section 3.3.	 Warranty as to Stock. 

The Corporation hereby represents and warrants that the Stock, when issued, will be duly authorized, validly issued, fully paid and
nonassessable. Such representation and warranty shall survive the deposit of the Stock and the issuance of the related Receipts. 
  

	 	Section 3.4.	 Warranty as to Receipts. 

The Corporation hereby represents and warrants that the Receipts, when issued, will represent legal and valid interests in the Depositary
Shares, and each Depositary Share will represent one one-twenty-fifth interest in a share of deposited Stock. Such representation and warranty shall survive the deposit of the Stock and the issuance of the
Receipts. 
 ARTICLE IV 

THE DEPOSITED SECURITIES; NOTICES 
  

	 	Section 4.1.	 Cash Distributions. 

Whenever Computershare, as distribution agent, shall receive any cash dividend or other cash distribution on the Stock, Computershare shall,
subject to Sections 3.1 and 3.2, distribute to 

  
 10 

 
Record Holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of such dividend or distribution as are, as nearly as practicable, in proportion to the respective
numbers of Depositary Shares evidenced by the Receipts held by such Holders; provided, however, that in case the Corporation or Computershare shall be required to withhold, and shall withhold, from any cash dividend or other cash distribution in
respect of the Stock an amount on account of taxes, or as otherwise required by law, regulation or court process, the amount made available for distribution or distributed in respect of Depositary Shares shall be reduced accordingly. In the event
that the calculation of any such cash dividend or other cash distribution to be paid to any Record Holder on the aggregate number of Depositary Shares held by such Record Holder results in an amount that is a fraction of a cent and that fraction of
a cent is equal to or greater than $0.005, the amount Computershare shall distribute to such record holder shall be rounded up to the next highest whole cent; otherwise, such fractional amount shall be disregarded by the Depository; provided,
however, upon the Depository’s request, the Corporation shall pay the additional amount to the Depository for distribution. 
 Each
Holder of a Receipt shall provide Computershare with its certified tax identification number on a properly completed Form W-8 or W-9, as may be applicable. Each Holder
of a Receipt acknowledges that, in the event of non-compliance with the preceding sentence, the Internal Revenue Code of 1986, as amended, may require withholding by Computershare of a portion of any of the
distributions to be made hereunder. 
  

	 	Section 4.2.	 Distributions Other than Cash, Rights, Preferences or Privileges. 

Whenever Computershare shall receive any distribution other than cash, rights, preferences or privileges upon the Stock, Computershare shall,
subject to Sections 3.1 and 3.2, distribute to Record Holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of the securities or property received by it as are, as nearly as practicable, in proportion to the
respective numbers of Depositary Shares evidenced by such Receipts held by such Holders, in any manner that Computershare may deem equitable and practicable for accomplishing such distribution. If in the opinion of Computershare such distribution
cannot be made proportionately among such Record Holders, or if for any other reason (including any requirement that the Corporation or Computershare withhold an amount on account of taxes or governmental charges) Computershare deems, after
consultation with the Corporation, such distribution not to be feasible, Computershare may, with the approval of the Corporation, adopt such method as it deems equitable and practicable for the purpose of effecting such distribution, including the
sale (at public or private sale) of the securities or property thus received, or any part thereof, in a commercially reasonable manner. The net proceeds of any such sale shall, subject to Sections 3.1 and 3.2, be distributed or made available for
distribution, as the case may be, by Computershare to Record Holders of Receipts as provided by Section 4.1 in the case of a distribution received in cash. The Corporation shall not make any distribution of such securities or property to
Computershare, and Computershare shall not make any distribution of such securities or property to the Holders of Receipts, unless the Corporation shall have provided an opinion of counsel stating that such securities or property have been
registered under the Securities Act or do not need to be registered in connection with such distributions. 

  
 11 

	 	Section 4.3.	 Subscription Rights, Preferences or Privileges. 

If the Corporation shall at any time offer or cause to be offered to the persons in whose names the deposited Stock is recorded on the books of
the Corporation any rights, preferences or privileges to subscribe for or to purchase any securities or any rights, preferences or privileges of any other nature, such rights, preferences or privileges shall in each such instance be communicated to
the Depository and thereafter made available by the Depository to the Record Holders of Receipts in such manner as the Depository (in consultation with the Corporation) may determine, either by the issue to such Record Holders of warrants
representing such rights, preferences or privileges or by such other method as may be approved by the Depository in its discretion with the approval of the Corporation; provided, however, that (i) if at the time of issue or offer of any such
rights, preferences or privileges the Depository or the Corporation determines that it is not lawful or (after consultation with the Corporation) not feasible to make such rights, preferences or privileges available to Holders of Receipts by the
issue of warrants or otherwise, or (ii) if and to the extent so instructed by Holders of Receipts who do not desire to exercise such rights, preferences or privileges, then Computershare, in its discretion (with approval of the Corporation, in
any case where the Depository has determined that it is not feasible to make such rights, preferences or privileges available), may, if applicable laws or the terms of such rights, preferences or privileges permit such transfer, sell such rights,
preferences or privileges at public or private sale, at such place or places and upon such terms as it may deem proper. The net proceeds of any such sale shall, subject to Sections 3.1 and 3.2, be distributed by Computershare to the Record Holders
of Receipts entitled thereto as provided by Section 4.1 in the case of a distribution received in cash. 
 The Corporation shall notify
the Depository whether registration under the Securities Act of the securities to which any rights, preferences or privileges relate is required in order for Holders of Receipts to be offered or sold the securities to which such rights, preferences
or privileges relate, and the Corporation agrees with the Depository that it will file promptly a registration statement pursuant to the Securities Act with respect to such rights, preferences or privileges and securities and use its best efforts
and take all steps available to it to cause such registration statement to become effective sufficiently in advance of the expiration of such rights, preferences or privileges to enable such Holders to exercise such rights, preferences or
privileges. In no event shall the Depository make available to the Holders of Receipts any right, preference or privilege to subscribe for or to purchase any securities unless and until such registration statement shall have become effective, or the
Corporation shall have provided to the Depository an opinion of counsel to the effect that the offering and sale of such securities to the Holders are exempt from registration under the provisions of the Securities Act. 

The Corporation shall notify the Depository whether any other action under the laws of any jurisdiction or any governmental or administrative
authorization, consent or permit is required in order for such rights, preferences or privileges to be made available to Holders of Receipts, and the Corporation agrees with the Depository that the Corporation will use its reasonable best efforts to
take such action or obtain such authorization, consent or permit sufficiently in advance of the expiration of such rights, preferences or privileges to enable such Holders to exercise such rights, preferences or privileges. 

  
 12 

	 	Section 4.4.	 Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts. 

Whenever any cash dividend or other cash distribution shall become payable or any distribution other than cash shall be made, or if rights,
preferences or privileges shall at any time be offered, with respect to the Stock, or whenever the Depository shall receive notice of any meeting at which holders of the Stock are entitled to vote or of which holders of the Stock are entitled to
notice, or whenever the Depository and the Corporation shall decide it is appropriate, the Depository shall in each such instance fix a record date (which shall be the same date as the record date fixed by the Corporation with respect to or
otherwise in accordance with the terms of the Stock) for the determination of the Holders of Receipts who shall be entitled to receive such dividend, distribution, rights, preferences or privileges or the net proceeds of the sale thereof, or to give
instructions for the exercise of voting rights at any such meeting, or who shall be entitled to notice of such meeting or for any other appropriate reasons. 
  

	 	Section 4.5.	 Voting Rights. 

Subject to the provisions of the Certificate, upon receipt of notice of any meeting at which the holders of the Stock are entitled to vote, the
Depository shall, as soon as practicable thereafter, mail to the Record Holders of Receipts, determined on the record date as set forth in Section 4.4, a notice prepared by the Corporation which shall contain (i) such information as is
contained in such notice of meeting and (ii) a statement that the Holders may, subject to any applicable restrictions, instruct the Depository as to the exercise of the voting rights pertaining to the amount of Stock represented by their
respective Depositary Shares (including an express indication that instructions may be given to the Depository to give a discretionary proxy to a person designated by the Corporation) and a brief statement as to the manner in which such instructions
may be given. Upon the written request of the Holders of Receipts on the relevant record date, the Depository shall endeavor insofar as practicable to vote or cause to be voted, in accordance with the instructions set forth in such requests, the
maximum number of whole shares of Stock represented by the Depositary Shares evidenced by all Receipts as to which any particular voting instructions are received. The Corporation hereby agrees to take all reasonable action which may be deemed
necessary by the Depository in order to enable the Depository to vote such Stock or cause such Stock to be voted. In the absence of specific instructions from Holders of Receipts, the Depository will not vote (but at its discretion, may appear at
any meeting with respect to such Stock unless directed otherwise by the Holders of all the Receipts) to the extent of the Stock represented by the Depositary Shares evidenced by the Receipts of such Holders. 

 

	 	Section 4.6.	 Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc. 

Upon any change in par or stated value, split-up, combination or any other reclassification of the
Stock, subject to the provisions of the Certificate, or upon any recapitalization, reorganization, merger or consolidation affecting the Corporation or to which it is a party, the Depository may in its discretion with the approval of, and shall upon
the instructions of, the Corporation, and (in either case) in such manner as the Depository may deem equitable, (i) make such adjustments as are certified by the Corporation in the fraction of an interest represented by one Depositary Share in
one share of Stock and in the ratio of the 

  
 13 

 
redemption price per Depositary Share to the redemption price per share of Stock, in each case as may be necessary fully to reflect the effects of such change in par or stated value, split-up, combination or other reclassification of the Stock, or of such recapitalization, reorganization, merger or consolidation and (ii) treat any securities which shall be received by the Depository in
exchange for or upon conversion of or in respect of the Stock as new deposited securities so received in exchange for or upon conversion or in respect of such Stock. In any such case the Corporation may in its discretion direct the Depository to
execute and deliver additional Receipts or may call for the surrender of all outstanding Receipts to be exchanged for new Receipts specifically describing such new deposited securities. Anything to the contrary herein notwithstanding, Holders of
Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the Stock or any such recapitalization,
reorganization, merger or consolidation to surrender such Receipts to the Depository with instructions to convert, exchange or surrender the Stock represented thereby only into or for, as the case may be, the kind and amount of shares and other
securities and property and cash into which the Stock represented by such Receipts might have been converted or for which such Stock might have been exchanged or surrendered immediately prior to the effective date of such transaction. 

 

	 	Section 4.7.	 Delivery of Reports. 

The Depository shall furnish to Holders of Receipts any reports and communications received from the Corporation which are received by the
Depository, as the holder of the Stock, and which the Corporation is required to furnish to the holders of the Stock. 
  

	 	Section 4.8.	 Lists of Receipt Holders. 

Reasonably promptly upon request from time to time by the Corporation, at the sole expense of the Corporation, the Depository shall furnish to
it a list, as of the most recent practicable date, of the names, addresses and holdings of Depositary Shares of all registered Holders of Receipts. 

ARTICLE V 
 THE
DEPOSITORY, THE DEPOSITORY’S 
 AGENTS, THE REGISTRAR AND THE CORPORATION 

 

	 	Section 5.1.	 Maintenance of Offices, Agencies and Transfer Books by the Depository; Registrar; Depository’s Agents.

 Upon execution of this Agreement, the Depository shall maintain at the Depository’s Office, facilities for the
execution and delivery, registration and registration of transfer, surrender and exchange of Receipts, and at the offices of the Depository’s Agents, if any, facilities for the delivery, registration of transfer, surrender and exchange of
Receipts, all in accordance with the provisions of this Agreement; provided that, to the extent provisions of this Agreement regarding transfer or registration functions performed by the Depository conflict with the terms of any transfer agency
agreement between the Corporation and the Depository, the terms of such transfer agency agreement shall control. 

  
 14 

 The Registrar shall keep books at the Depository’s Office for the registration and
transfer of Receipts. Upon direction by the Corporation and with reasonable notice to the Registrar, the Depository shall open its books for inspection by the Record Holders of Receipts as directed by the Corporation; provided that any Holder shall
be granted such right by the Corporation only after certifying that such inspection shall be for a proper purpose reasonably related to such person’s interest as an owner of Depositary Shares evidenced by the Receipts. 

The Registrar may close such books, at any time or from time to time, when deemed expedient by it in connection with the performance of its
duties hereunder. 
 If the Receipts or the Depositary Shares evidenced thereby or the Stock represented by such Depositary Shares shall be
listed on one or more national securities exchanges, the Depository will appoint a registrar (acceptable to the Corporation) for registration of the Receipts or Depositary Shares in accordance with any requirements of such exchange. Such registrar
(which may be the Trust Company if so permitted by the requirements of any such exchange) may be removed and a substitute registrar appointed by the Depository upon the request or with the approval of the Corporation. If the Receipts, Depositary
Shares or Stock are listed on one or more other securities exchanges, the Registrar will, at the request of the Corporation, arrange such facilities for the delivery, registration, registration of transfer, surrender and exchange of the Receipts,
Depositary Shares or Stock as may be required by law or applicable securities exchange regulation. 
 The Depository may from time to time
appoint Depository’s Agents to act in any respect for the Depository for the purposes of this Agreement and may from time to time appoint additional Depository’s Agents and vary or terminate the appointment of such Depository’s
Agents, provided that the Depository will notify the Corporation of any such appointment or variation or termination of such appointment. 
  

	 	Section 5.2.	 Prevention of or Delay in Performance by the Depository, the Depository’s Agents, the Registrar or the
Corporation. 

 None of the Depository, any Depository’s Agent, any Registrar or the Corporation shall incur any
liability to any Holder of a Receipt if by reason of any provision of any present or future law, or regulation thereunder, of the United States of America or of any other governmental authority or, in the case of the Depository, the
Depository’s Agent or the Registrar, by reason of any provision, present or future, of the Corporation’s Amended and Restated Certificate of Incorporation (including the Certificate) or by reason of any act of God or war or other
circumstance beyond the control of the relevant party, the Depository, the Depository’s Agent, the Registrar or the Corporation shall be prevented, delayed or forbidden from, or subjected to any penalty on account of, doing or performing any
act or thing which the terms of this Agreement provide shall be done or performed. Nor shall the Depository, any Depository’s Agent, any Registrar or the Corporation incur liability to any Holder of a Receipt (i) by reason of any
nonperformance or delay, caused as aforesaid, in the performance of any act or thing which the terms of this Agreement shall provide shall or may be done or performed, or (ii) by reason of any exercise of, or failure to exercise, any discretion
provided for in this Agreement except, in case of any such exercise or failure to exercise discretion not caused as aforesaid, 

  
 15 

 
if caused by the gross negligence or willful misconduct of the party charged with such exercise or failure to exercise, or as otherwise explicitly set forth in this Agreement. 

 

	 	Section 5.3.	 Obligations of the Depository, the Depository’s Agents, the Registrar and the Corporation.

 None of the Depository, any Depository’s Agent, any Registrar or the Corporation assumes any obligation or shall be
subject to any liability under this Agreement to Holders of Receipts other than for its gross negligence, willful misconduct or bad faith. 

None of the Depository, any Depository’s Agent, any Registrar or the Corporation shall be under any obligation to appear in, prosecute or
defend any action, suit or other proceeding in respect of the Stock, the Depositary Shares or the Receipts, which, in its opinion, may involve it in expense or liability, unless indemnity satisfactory to it against all expense and liability be
furnished as often as may be reasonably required. 
 None of the Depository, any Depository’s Agent, any Registrar or the Corporation
shall be liable for any action or any failure to act by it in reliance upon the written advice of legal counsel or accountants, or information from any person presenting Stock for deposit, any Holder of a Receipt or any other person believed by it
in good faith to be competent to give such information. The Depository, any Depository’s Agent, any Registrar and the Corporation may each rely, and shall each be protected in acting upon or omitting to act upon any written notice, request,
direction or other document believed by it to be genuine and to have been signed or presented by the proper party or parties. 
 The
Depository shall indemnify the Corporation against any liability which may directly arise out of acts performed or omitted by the Depository or any Depository’s Agent due to its or their gross negligence, willful misconduct or bad faith. 

The Depository shall not be responsible for any failure to carry out any instruction to vote any of the shares of Stock or for the manner or
effect of any such vote made, as long as any such action or inaction is not taken in bad faith. The Depository undertakes, and any Registrar shall be required to undertake, to perform such duties and only such duties as are specifically set forth in
this Agreement, and no implied covenants or obligations shall be read into this Agreement against the Depository or any Registrar. 
 The
Depository, its parent, affiliates or subsidiaries, the Depository’s Agents and the Registrar may own, buy, sell and deal in any class of securities of the Corporation and its affiliates and in Receipts or Depositary Shares or become
pecuniarily interested in any transaction in which the Corporation or its affiliates may be interested or contract with or lend money to any such person or otherwise act as fully or as freely as if it were not the Depository, the parent, affiliate
or subsidiary or the Depository’s Agent or the Registrar hereunder. The Depository may also act as trustee, transfer agent or registrar of any of the securities of the Corporation and its affiliates. 

It is intended that none of the Depository, any Depository’s Agent or the Registrar, acting as the Depository’s Agent or Registrar,
as the case may be, shall be deemed to be an “issuer” of the securities under the federal securities laws or applicable state securities laws, it being 

  
 16 

 
expressly understood and agreed that the Depository, any Depository’s Agent and the Registrar are acting only in a ministerial capacity as Depository or Registrar for the Stock. 

None of the Depository (or its officers, directors, employees or agents), any Depository’s Agent or the Registrar makes any
representation or has any responsibility as to the validity of the registration statement pursuant to which the Depositary Shares are registered under the Securities Act, the Stock, the Depositary Shares or the Receipts (except for its
counter-signatures thereon) or any instruments referred to therein or herein, or as to the correctness of any statement made therein or herein. 

The Depository assumes no responsibility for the correctness of the description that appears in the Receipts. Notwithstanding any other
provision herein or in the Receipts, the Depository makes no warranties or representations as to the validity or genuineness of any Stock at any time deposited with the Depository hereunder or of the Depositary Shares, as to the validity or
sufficiency of this Agreement, as to the value of the Depositary Shares or as to any right, title or interest of the record holders of Receipts in and to the Depositary Shares. The Depository shall not be accountable for the use or application by
the Corporation of the Depositary Shares or the Receipts or the proceeds thereof. 
 Notwithstanding anything to the contrary herein, no
party to this Agreement shall be liable for any incidental, indirect, special or consequential damages of any nature whatsoever, including, but not limited to, loss of anticipated profits, occasioned by breach of any provision of this Agreement even
if apprised of the possibility of such damages. 
 The Depository shall not be under any liability for interest on any monies at any time
received by it pursuant to any of the provisions of this Agreement or of the Receipts, the Depositary Shares or the Stock nor shall it be obligated to segregate such monies from other monies held by it, except as required by law. The Depository
shall not be responsible for advancing funds on behalf of the Corporation and shall have no duty or obligation to make any payments if it has not timely received sufficient funds to make timely payments. 

In the event the Depository believes any ambiguity or uncertainty exists hereunder or in any notice, instruction, direction, request or other
communication, paper or document received by the Depository hereunder, or in the administration of any of the provisions of this Agreement, the Depository shall deem it necessary or desirable that a matter be proved or established prior to taking,
omitting or suffering to take any action hereunder, the Depository may, in its sole discretion upon written notice to the Corporation, refrain from taking any action and shall be fully protected and shall not be liable in any way to the Corporation,
any Holders of Receipts or any other person or entity for refraining from taking such action, unless the Depository receives written instructions or a certificate signed by the Corporation which eliminates such ambiguity or uncertainty to the
satisfaction of the Depository or which proves or establishes the applicable matter to the satisfaction of the Depository. 
 The Depository
undertakes not to issue any Receipt other than to evidence the Depositary Shares representing interests in the shares of Stock that have been delivered to and are then on deposit with the Depository. The Depository also undertakes not to sell,
except as provided herein, pledge or lend Depositary Shares or any shares of deposited Stock by it as Depository. 

  
 17 

 The Depository shall not be held to have notice of any change of authority of any person,
until receipt of written notice thereof from the Corporation. The obligations of the Corporation and the rights of the Depository set forth in this Section 5.3 shall survive the termination of this Agreement and any succession of any
Depository, Registrar or Depository’s Agent. 
  

	 	Section 5.4.	 Resignation and Removal of the Depository; Appointment of Successor Depository. 

The Depository may at any time resign as Depository hereunder by delivering notice of its election to do so to the Corporation, such
resignation to take effect upon the appointment of a successor Depository and its acceptance of such appointment as hereinafter provided. 

The Depository may at any time be removed by the Corporation by notice of such removal delivered to the Depository, such removal to take
effect upon the appointment of a successor Depository hereunder and its acceptance of such appointment as hereinafter provided. 
 In case
at any time the Depository acting hereunder shall resign or be removed, the Corporation shall, within 60 days after the delivery of the notice of resignation or removal, as the case may be, appoint a successor Depository, which shall be a bank or
trust company having its principal office in the United States of America and having a combined capital and surplus of at least $50,000,000. If no successor Depository shall have been so appointed and have accepted appointment within 60 days after
delivery of such notice, the resigning or removed Depository may petition any court of competent jurisdiction for the appointment of a successor Depository. Every successor Depository shall execute and deliver to its predecessor and to the
Corporation an instrument in writing accepting its appointment hereunder, and thereupon such successor Depository, without any further act or deed, shall become fully vested with all the rights, powers, duties and obligations of its predecessor and
for all purposes shall be the Depository under this Agreement, and such predecessor, upon payment of all sums due it and on the written request of the Corporation, shall promptly execute and deliver an instrument transferring to such successor all
rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all right, title and interest in the Stock and any moneys held hereunder to such successor, and shall deliver to such successor a list of the Record Holders of
all outstanding Receipts and such records, books and other information in its possession relating thereto. 
 Any entity into or with which
the Depository may be merged, consolidated or converted shall be the successor of the Depository without the execution or filing of any document or any further act, and notice thereof shall not be required hereunder. Such successor Depository may
authenticate the Receipts in the name of the predecessor Depository or its own name as successor Depository. 
  

	 	Section 5.5.	 Corporate Notices and Reports. 

The Corporation agrees that it will deliver to the Depository, and the Depository will, promptly after receipt thereof, transmit to the Record
Holders of Receipts, in each case at the addresses recorded in the Depository’s books, copies of all notices and reports (including without limitation financial statements) required by law, by the rules of any national securities exchange upon
which the Stock, the Depositary Shares or the Receipts are listed or by the Corporation’s 

  
 18 

 
Amended and Restated Certificate of Incorporation (including the Certificate), to be furnished to the Record Holders of Receipts. Such transmission will be at the Corporation’s expense and
the Corporation will provide the Depository with such number of copies of such documents as the Depository may reasonably request. In addition, the Depository will transmit to the Record Holders of Receipts at the Corporation’s expense,
including applicable fees, such other documents as may be requested by the Corporation. 
  

	 	Section 5.6.	 Indemnification by the Corporation. 

Subject to Section 5.3, the Corporation shall indemnify the Depository, any Depository’s Agent and any Registrar (including each of
their officers, directors, agents and employees) against, and hold each of them harmless from, any loss, damage, cost, penalty, liability or expense (including the reasonable costs and expenses of defending itself) which may arise out of acts
performed, suffered or omitted to be taken in connection with this Agreement and the Receipts by the Depository, any Registrar or any of their respective agents (including any Depository’s Agent) and any transactions or documents contemplated
hereby, except for any liability arising out of negligence, willful misconduct or bad faith on the respective parts of any such person or persons. The obligations of the Corporation and the rights of the Depository set forth in this Section 5.6
shall survive the termination of this Agreement and any succession of any Depository, Registrar or Depository’s Agent. 
  

	 	Section 5.7.	 Fees, Charges and Expenses. 

The Corporation agrees promptly to pay the Depository the compensation to be agreed upon with the Corporation for all services rendered by the
Depository hereunder and to reimburse the Depository for its reasonable out-of-pocket expenses (including reasonable counsel fees and expenses) incurred by the
Depository without negligence, willful misconduct or bad faith on its part (or on the part of any agent or Depository’s Agent) in connection with the services rendered by it (or such agent or Depository’s Agent) hereunder. The Corporation
shall pay all charges of the Depository in connection with the initial deposit of the Stock and the initial issuance of the Depositary Shares and any redemption or exchange of the Stock at the option of the Corporation. The Corporation shall pay all
transfer and other taxes and governmental charges arising solely from the existence of the depository arrangements. All other transfer and other taxes and governmental charges shall be at the expense of Holders of Depositary Shares evidenced by
Receipts. If, at the request of a Holder of Receipts, the Depository incurs charges or expenses for which the Corporation is not otherwise liable hereunder, such Holder will be liable for such charges and expenses; provided, however, that the
Depository may, at its sole option, request that the Corporation direct a Holder of a Receipt to prepay the Depository any charge or expense the Depository has been asked to incur at the request of such Holder of Receipts. The Depository shall
present its statement for charges and expenses to the Corporation at such intervals as the Corporation and the Depository may agree. 
  

	 	Section 5.8.	 Tax Compliance. 

Computershare and, where applicable, the Trust Company, on its own behalf and on behalf of the Corporation, will comply with all applicable
certification, information reporting and withholding (including “backup” withholding) requirements imposed by applicable tax laws, 

  
 19 

 
regulations or administrative practice with respect to (i) any payments made with respect to the Depositary Shares or (ii) the issuance, delivery, holding, transfer, redemption or
exercise of rights under the Depositary Receipts or the Depositary Shares. Such compliance shall include, without limitation, the preparation and timely filing of required returns and the timely payment of all amounts required to be withheld to the
appropriate taxing authority or its designated agent. 
 The Depository shall comply with any direction received from the Corporation with
respect to the application of such requirements to particular payments or holders or in other particular circumstances, and may for purposes of this Agreement rely on any such direction in accordance with the provisions of Section 5.3 hereof.

 The Depository shall maintain all appropriate records documenting compliance with such requirements, and shall make such records
available on request to the Corporation or to its authorized representatives. 
 ARTICLE VI 

AMENDMENT AND TERMINATION 
  

	 	Section 6.1.	 Amendment. 

The form of the Receipts and any provisions of this Agreement may at any time and from time to time be amended by agreement between the
Corporation and the Depository in any respect which they may deem necessary or desirable; provided, however, that no such amendment (other than a change in fees) which shall materially and adversely alter the rights of the Holders of Receipts shall
be effective unless such amendment shall have been approved by the Holders of Receipts evidencing at least a majority of the Depositary Shares then outstanding. Every Holder of an outstanding receipt at the time any such amendment becomes effective
shall be deemed, by continuing to hold such Receipt, to consent and agree to such amendment and to be bound by this Agreement. 

Notwithstanding the foregoing, in no event shall the Corporation be required to execute any amendment which may impair the right, subject to
the provisions of Sections 2.6 and 2.7 and Article III, of any owner of Depositary Shares to surrender any Receipt evidencing such Depositary Shares to the Depository with instructions to deliver to the Holder the Stock and all money represented
thereby, except in order to comply with mandatory provisions of applicable law or the rules and regulations of any governmental body, agency or commission, or applicable securities exchange. As a condition precedent to the Depository’s
execution of any amendment, the Corporation shall deliver to the Depository a certificate from a duly authorized officer of the Corporation that states that the proposed amendment is in compliance with the terms of this Section 6.1, except
that, if, under the foregoing paragraph, such amendment would require approval of at least a majority of Holders of Receipts to be effective, such Holders shall be deemed to have consented and agreed to such amendment for purposes of the statement
in such certificate that such amendment is in compliance with the terms of this Section 6.1. 
  

	 	Section 6.2.	 Termination. 

This Agreement may be terminated by the Corporation or the Depository only if (i) all outstanding Depositary Shares issued hereunder have
been redeemed pursuant to Section 2.9, or 

  
 20 

 
(ii) there shall have been made a final distribution in respect of the Stock in connection with any liquidation, dissolution or winding up of the Corporation and such distribution shall have been
distributed to the Holders of Receipts representing Depositary Shares pursuant to Section 4.1 or 4.2, as applicable. 
 Upon the
termination of this Agreement, the Corporation shall be discharged from all obligations under this Agreement except for its obligations to the Depository, any Depository’s Agent and any Registrar under Sections 5.6 and 5.7. 

ARTICLE VII 

MISCELLANEOUS 
  

	 	Section 7.1.	 Counterparts. 

This Agreement may be executed in any number of counterparts, and by each of the parties hereto on separate counterparts, each of which
counterparts, when so executed and delivered, shall be deemed an original, but all such counterparts taken together shall constitute one and the same instrument. A signature to this Agreement transmitted electronically shall have the same effect as
an original signature. 
  

	 	Section 7.2.	 Exclusive Benefit of Parties. 

This Agreement is for the exclusive benefit of the parties hereto, and their respective successors hereunder, and shall not be deemed to give
any legal or equitable right, remedy or claim to any other person whatsoever. 
  

	 	Section 7.3.	 Invalidity of Provisions. 

In case any one or more of the provisions contained in this Agreement or in the Receipts should be or become invalid, illegal or unenforceable
in any respect, the validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be affected, prejudiced or disturbed thereby. 

 

	 	Section 7.4.	 Notices. 

Any and all notices to be given to the Corporation hereunder or under the Receipts shall be in writing and shall be deemed to have been duly
given if personally delivered or sent by mail, or by facsimile transmission or electronic mail, confirmed by letter, addressed to the Corporation at 

Bank of America Corporation 
 Bank
of America Corporate Center 

NC1-007-06-11 

100 North Tryon Street 

Charlotte, North Carolina 28255 

Attn: Corporate Treasury – Strategic Asset Liability Management 

Facsimile: (704) 548-5999 

Email: TMTreasuryFunding@bankofamerica.com 

  
 21 

 or at any other addresses of which the Corporation shall have notified the Depository in writing. 

Any and all notices to be given to the Depository hereunder or under the Receipts shall be in writing and shall be deemed to have been duly
given if personally delivered or sent by mail, or by facsimile transmission confirmed by letter, addressed to the Depository at the Depository’s Office at 

Computershare Trust Company, N.A. 

c/o Computershare Inc. 
 250
Royall Street 
 Canton, Massachusetts 02021 

Attention: General Counsel 

Facsimile: 781-575-4210 

or at any other address of which the Depository shall have notified the Corporation in writing. 

The Depository shall give any and all notices directed to be given by the Corporation to any Record Holder of a Receipt in writing, which
notices shall be deemed to have been duly given if personally delivered or sent by mail or facsimile transmission or confirmed by letter, addressed to such Record Holder at the address of such Record Holder as it appears on the books of the
Depository. 
 Delivery of a notice sent by mail or by facsimile transmission shall be deemed to be effected at the time when a duly
addressed letter containing the same (or a confirmation thereof in the case of a facsimile transmission) is deposited, postage prepaid, in a post office letter box. The Depository or the Corporation may, however, act upon any facsimile transmission
received by it from the other, notwithstanding that such facsimile transmission shall not subsequently be confirmed by letter or as aforesaid. 
  

	 	Section 7.5.	 Appointment of Registrar and Transfer Agent, Dividend Disbursing Agent and Redemption Agent.

 Unless otherwise set forth on a certificate duly executed by an authorized officer of the Corporation, the Corporation
hereby appoints the Trust Company as Registrar and Transfer Agent and Computershare as dividend disbursing agent and redemption agent in respect of the Stock deposited with the Depository hereunder and the Receipts, and the Trust Company and
Computershare hereby accept their respective appointments. With respect to the appointments of the Trust Company as Registrar and Transfer Agent and Computershare as dividend disbursing agent and redemption agent in respect of the Stock and the
Receipts, each of the Corporation, the Trust Company and Computershare, in their respective capacities under such appointments, shall be entitled to the same rights, indemnities, immunities and benefits as the Corporation and Depository hereunder,
respectively, as if explicitly named in each such provision. 

  
 22 

	 	Section 7.6.	 Holders of Receipts Are Parties. 

The Holders of Receipts from time to time shall be parties to this Agreement and shall be bound by all of the terms and conditions hereof and
of the Receipts. The provisions of this Agreement are intended to benefit only the parties hereto and their respective permitted successors and assigns, and no rights shall be granted to any other person by virtue of this Agreement. 

 

	 	Section 7.7.	 Governing Law. 

This Agreement and the Receipts of each series and all rights hereunder and thereunder and provisions hereof and thereof shall be governed by,
and construed in accordance with, the laws of the State of New York without giving effect to applicable conflicts of law principles. 
  

	 	Section 7.8.	 Headings. 

The headings of articles and sections in this Agreement and in the form of the Receipt set forth in Exhibit A hereto have been inserted
for convenience only and are not to be regarded as a part of this Agreement or the Receipts or to have any bearing upon the meaning or interpretation of any provision contained herein or in the Receipts. 

[Signature page follows.] 

  
 23 

 IN WITNESS WHEREOF, the Corporation, Computershare and the Trust Company have duly executed
this Agreement as of the day and year first above set forth. 
  

					
	BANK OF AMERICA CORPORATION
		
	By:	 	 /s/ Karim Kajani

		 	Name:	 	Karim Kajani
		 	Title:	 	Director
	
	COMPUTERSHARE INC.
		
	By:	 	 /s/ Dennis V. Moccia

		 	Name:	 	 Dennis V. Moccia

		 	Title:	 	 Senior Manager, Contract Operations

	
	COMPUTERSHARE TRUST COMPANY, N.A.
		
	By:	 	 /s/ Dennis V. Moccia

		 	Name:	 	 Dennis V. Moccia

		 	Title:	 	 Senior Manager, Contract Operations

 [SIGNATURE PAGE TO DEPOSIT AGREEMENT – SERIES JJ] 

  

 EXHIBIT A 

[FORM OF FACE OF RECEIPT] 
 THE DEPOSITARY SHARES
REPRESENTED BY THIS CERTIFICATE ARE NOT SAVINGS ACCOUNTS, DEPOSITS OR OTHER OBLIGATIONS OF A BANK AND ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. 

[To be included in any DTC Receipt or other global Receipt: UNLESS THIS RECEIPT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CORPORATION OR ITS AGENT (INCLUDING THE DEPOSITORY) FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY RECEIPT 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. 
 TRANSFERS OF THIS RECEIPT
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS RECEIPT SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE DEPOSIT AGREEMENT REFERRED TO BELOW. IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR AND TRANSFER AGENT MAY REQUIRE TO CONFIRM
THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.] 
  

			
	Number DR-___	  	____________ Depositary Shares
		  	(CUSIP 060505FP4)

 DEPOSITARY RECEIPT FOR DEPOSITARY SHARES, 

EACH REPRESENTING ONE ONE-TWENTY-FIFTH OF ONE SHARE OF 

FIXED-TO-FLOATING RATE
NON-CUMULATIVE PREFERRED STOCK, SERIES JJ, 
 OF BANK OF AMERICA CORPORATION 

Incorporated under the laws of the State of Delaware 

(See reverse for certain definitions.) 

Computershare Inc., a Delaware corporation, and Computershare Trust Company, N.A., a national banking association, acting jointly as
Depository (the “Depository”), hereby certifies that CEDE & CO. is the registered owner of ___________ (_______) DEPOSITARY SHARES (“Depositary Shares”), each Depositary Share representing one one-twenty-fifth of a share of Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series
JJ, liquidation preference $25,000 per share, par value $0.01 per share (the “Stock”), of BANK OF AMERICA CORPORATION, a Delaware corporation (the “Corporation”), on deposit with the Depository, subject to the terms and entitled
to the benefits of the Deposit Agreement dated as of June __, 2019 (the “Deposit Agreement”), among the Corporation, Computershare Inc., Computershare Trust Company, N.A. and the Holders from time to time of the Depositary Receipts. By
accepting this Depositary Receipt, the Holder hereof becomes a party to and agrees to be bound 

 
by all the terms and conditions of the Deposit Agreement. This Depositary Receipt shall not be valid or obligatory for any purpose or entitled to any benefits under the Deposit Agreement unless
it shall have been executed by the Depository by the manual or facsimile signature of a duly authorized officer and countersigned and registered by the Transfer Agent and Registrar. 

 

							
	Dated: __________	 		 		 	 Computershare Inc. and Computershare Trust

Company, N.A., as Depository

				
		 		 	By:	 	
                     
                                         
                   

		 		 		 	Authorized Officer

  

			
	Countersigned and Registered:
	Computershare Trust Company, N.A.,
	Transfer Agent and Registrar
		
	By:	 	
                     
                                         
       

		 	Authorized Signatory

 [FORM OF REVERSE OF RECEIPT] 

BANK OF AMERICA CORPORATION 

UPON REQUEST, BANK OF AMERICA CORPORATION WILL FURNISH WITHOUT CHARGE TO EACH HOLDER OF A DEPOSITARY RECEIPT WHO SO REQUESTS A COPY OF THE
DEPOSIT AGREEMENT AND A COPY OR SUMMARY OF THE CERTIFICATE OF DESIGNATIONS OF THE FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED
STOCK, SERIES JJ, OF BANK OF AMERICA CORPORATION. ANY SUCH REQUEST IS TO BE ADDRESSED TO THE SECRETARY OF THE CORPORATION OR THE DEPOSITORY NAMED ON THE FACE OF THIS RECEIPT. 

The Corporation will furnish without charge to each holder of a depositary receipt who so requests the powers, designations, preferences and
relative, participating, optional or other special rights of each class of stock or series thereof of the Corporation, and the qualifications, limitations or restrictions of such preferences or rights. Such request may be made to the Corporation or
to the Registrar. 
 KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN OR DESTROYED THE CORPORATION WILL REQUIRE A BOND OF INDEMNITY AS A
CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE. 
 The following abbreviations, when used in the inscription on the face of this certificate, shall
be construed as though they were written out in full according to applicable laws or regulations: 
  

			
	 TEN COM – as tenants in common
	  	UNIF GIFT MIN ACT - ______Custodian______
	 TEN ENT – as tenants by the entireties
	  	(Cust)                (Minor)
	 JT TEN – as joint tenants with right of
	  	Under Uniform Gifts to Minors Act
	 survivorship and not as tenants in common
	  	                        
		  	(State)

  

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

  

	
	For value received, _____________________________________ hereby sell, assign and transfer unto

 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 

 

					
		 	
	                    	  	                      
                          	  	

  
  

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) 

 
  
  

 
 ___________ Depositary Shares represented
by the within Certificate, and do(es) hereby irrevocably constitute and appoint                      Attorney to transfer the Depositary
Shares on the books of the within named Depository with full power of substitution in the premises. 
 Dated
                                         
        
  

			
	NOTICE:	  	THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
WHATEVER.

  

			
		 	
                     
                

	SIGNATURE(S) GUARANTEED:	 	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE PROGRAM), PURSUANT TO RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}]]