Document:

EX-10.1

 Exhibit 10.1 
  

 
  

 
 SALIX PHARMACEUTICALS, LTD.

 2014 STOCK INCENTIVE PLAN 
  

 
  

 TABLE OF CONTENTS 

 

							
	ARTICLE 1.  INTRODUCTION	  	 	1	  
			
	1.1.	  	Purpose of the Plan.	  	 	1	  
	1.2.	  	Nature of Awards.	  	 	1	  
	1.3.	  	Effective Date and Term of Plan.	  	 	1	  
		
	ARTICLE 2.  DEFINITIONS AND CONSTRUCTION	  	 	2	  
			
	2.1.	  	Definitions.	  	 	2	  
	2.2.	  	Construction.	  	 	5	  
		
	ARTICLE 3.  ELIGIBILITY	  	 	6	  
			
	3.1.	  	In General.	  	 	6	  
		
	ARTICLE 4.  ADMINISTRATION OF THE PLAN	  	 	7	  
			
	4.1.	  	In General.	  	 	7	  
	4.2.	  	Delegation to Committees and Officers.	  	 	8	  
		
	ARTICLE 5.  STOCK SUBJECT TO THE PLAN	  	 	9	  
			
	5.1.	  	Number of Shares.	  	 	9	  
	5.2.	  	Substitute Awards.	  	 	9	  
		
	ARTICLE 6.  TYPES OF AWARDS	  	 	10	  
			
	6.1.	  	Stock Options.	  	 	10	  
	6.2.	  	Stock Appreciation Rights.	  	 	14	  
	6.3.	  	Restricted Stock.	  	 	15	  
	6.4.	  	Restricted Stock Units.	  	 	16	  
	6.5.	  	Other Stock-Based Awards.	  	 	16	  
	6.6.	  	Cash Awards.	  	 	16	  
	6.7.	  	Performance-Based Awards.	  	 	17	  
		
	ARTICLE 7.  ADJUSTMENTS	  	 	20	  
			
	7.1.	  	Changes in Capitalization.	  	 	20	  
	7.2.	  	Change in Control.	  	 	20	  
		
	ARTICLE 8.  GENERAL PROVISIONS APPLICABLE TO ALL AWARDS	  	 	22	  
			
	8.1.	  	Transferability of Awards.	  	 	22	  
	8.2.	  	Termination of Status.	  	 	22	  
	8.3.	  	Withholding.	  	 	22	  
	8.4.	  	Conditions on Delivery of Stock.	  	 	23	  
	8.5.	  	Acceleration.	  	 	23	  
		
	ARTICLE 9.   MISCELLANEOUS	  	 	24	  
			
	9.1.	  	No Right to Employment or Other Status.	  	 	24	  
	9.2.	  	No Rights as Stockholder.	  	 	24	  

							
	9.3.	  	Amendment.	  	 	24	  
	9.4.	  	Compliance with Code Section 409A.	  	 	25	  
	9.5.	  	Governing Law.	  	 	25	  

 ARTICLE 1.  INTRODUCTION 

1.1.    Purpose of the Plan. 
 The Plan
is intended to enhance the Company’s ability to attract, retain and motivate the best available employees, officers, directors, consultants, and advisors, and to provide them with equity ownership opportunities and performance-based incentives
that are intended to align their interests with those of the Company’s stockholders and to promote the success of the Company’s business. The Plan succeeds the Company’s 2005 Stock Plan, and no awards shall be granted under that plan
on or after the effective date of this Plan. 
 1.2.    Nature of Awards. 

The Plan permits the grant of Stock Options, Stock Appreciation Rights, shares of Restricted Stock, Restricted Stock Units, and any other form of award based
on the value (or the increase in value) of shares of the common stock of the Company. The Plan also permits cash incentive awards. Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to any other
Award. The terms of each Award need not be identical, and the Compensation Committee need not treat Participants uniformly. 

1.3.    Effective Date and Term of Plan. 

The Plan is effective as of June 13, 2014. No Awards shall be granted under the Plan after June 12, 2024 (or such earlier date as may apply under
applicable law), but Awards previously granted may extend beyond that date. 

  
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 ARTICLE 2.  DEFINITIONS AND CONSTRUCTION 

2.1.    Definitions. 
 When used in
this 2014 Stock Plan, the following terms shall have the meanings set forth below, unless the context clearly requires a different meaning: 

(a) “Award” means an award issued under the Plan. 

(b) “Award Certificate” means the agreement, certificate or other document evidencing an Award, which shall be in such
form (written, electronic or otherwise) as the Compensation Committee shall determine. 
 (c) “Board” means the
Board of Directors of the Company. 
 (d) “Change in Control” means: 

(1) any “person” (as that term is used in Sections 13(d) and 14(d) of the Exchange Act) (other than the Company, any
subsidiary of the Company or any employee benefit plan of the Company or any subsidiary of the Company) is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than
50% of the combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of members of the Board (securities of any entity entitled to vote generally in the election of members of the board of
directors of such entity are referred to herein as “Voting Stock”); provided that a transaction will not be deemed to constitute a Change in Control if (i) the Company becomes a direct or indirect wholly owned subsidiary
of a holding company and (ii)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following such transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to
such transaction or (B) immediately following such transaction, no “person” (as that term is used in Sections 13(d) and 14(d) of the Exchange Act) (other than a holding company satisfying the requirements of this sentence) is the
beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company; 
 (2) during any
period of two consecutive years, individuals who at the beginning of such period constituted the Board 

  
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(together with any new directors whose election by such Board or whose nomination for election by the stockholders of the Company was approved by a vote of at least two-thirds of the members of
the Board then still in office who were either members of the Board at the beginning of such period or whose election or nomination for election was previously so approved) cease, for any reason, to constitute at least a majority of the Board then
in office; 
 (3) the consummation of any merger or consolidation of the Company with or into another entity or the merger
of another entity with or into the Company; provided that, a merger or consolidation will not be deemed to constitute a Change in Control if the shares of the Company’s Voting Stock outstanding immediately prior to such merger or consolidation
constitute, or are converted into or exchanged for, securities representing more than 50% of the Voting Stock of (i) the surviving entity in such merger or consolidation (the “Surviving Entity”) or (ii) a holding
company of which such Surviving Entity is a direct or indirect wholly owned subsidiary, in each case immediately after such merger or consolidation; 

(4) the direct or indirect sale, transfer, conveyance or other disposition (other than by way or merger or consolidation), in
one or a series of transactions, of all or substantially all of the assets of the Company (on a consolidated basis) to any “person” (as that term is used in Sections 13(d) and 14(d) of the Exchange Act); or 

(5) the adoption of any plan relating to the liquidation or dissolution of the Company. 

Notwithstanding the foregoing, (i) the transfer of assets between or among the Company and its subsidiaries shall not itself constitute a Change in
Control, (ii) the term Change in Control shall not include a merger or consolidation of the Company with or into, or the sale, transfer, conveyance or other disposition of all or substantially all of the assets of the Company to, an affiliate
of the Company incorporated or organized solely for the purpose or reincorporating or reorganizing the Company in another jurisdiction and/or for the sole purpose of forming, collapsing or dissolving a holding company structure, (iii) a
“person” (as that term is used in Sections 13(d) and 14(d) of the Exchange Act) shall not be deemed to have beneficial ownership of 

  
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securities subject to a stock purchase agreement, merger agreement or similar agreement (or voting or option agreement related thereto) until the consummation of the transactions contemplated by
such agreement and (iv) in no event shall a Change in Control be deemed to have occurred with respect to a holder of an Award, if such holder is part of a purchasing group that consummates the Change in Control transaction (such holder shall be
deemed “part of a purchasing group” for purposes of this clause (iv) if he, she or it is either directly or indirectly an equity participant in the purchasing group (except for (A) passive ownership of less than 3% of the stock
of the purchasing group, or (B) ownership of equity participation in the purchasing group which is otherwise not significant, as determined prior to the Change in Control by the Board). 

(e) “Code” means the Internal Revenue Code of 1986, as amended. 

(f) “Company” means Salix Pharmaceuticals, Ltd. 

(g) “Compensation Committee” shall mean the Compensation Committee of the Board. 

(h) “Disability” shall mean a disability within the meaning of the Company’s long-term disability plan in which
the Participant participates or, if there is no such plan, the federal Social Security Act. 
 (i) “Effective Date”
means the first date set forth in Section 1.3. 
 (j) “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 (k) “Fair Market Value” means the closing sales price (or the closing bid, if no sales were reported)
for the primary trading session of a Share on the last market trading day before the time of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable. The Compensation Committee can substitute a
particular time of day or other measure of “closing sale price” if appropriate because of unusual circumstances or can use weighted averages either on a daily basis or such longer period as complies with section 409A of the Code. 

(l) “Plan” means this 2014 Stock Incentive Plan. 

(m) “Prior Plan” means the Salix Pharmaceuticals, Ltd., 2005 Stock Plan, as amended. 

(n) “Restricted Stock” means an Award granted pursuant to Section 6.3. 

  
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 (o) “Restricted Stock Unit” means an Award granted pursuant to
Section 6.4. 
 (p) “Section” means a section of the Plan. 

(q) “Share” means a share of common stock of the Company. 

(r) “Stock Appreciation Right” or “SAR” means an Award granted pursuant to Section 6.2.

 (s) “Stock Option” means an Award granted pursuant to Section 6.1; a Stock Option can be either an
“Incentive Stock Option” (if it complies with the requirements of Section 6.1(b)) or a “Nonqualified Stock Option” or “Nonstatutory Stock Option” (if it does not comply with the requirements of
Section 6.1(b)). 
 (t) “Ten Percent Stockholder” means a Participant who on the date of grant is treated under
section 424(d) of the Code as owning stock (not including stock purchasable under outstanding options) possessing more than 10% of the total combined voting power of all classes of the stock of the Company or any parent or subsidiary of the Company
as defined in section 424(e) or (f) of the Code. 
 2.2.    Construction. 

When used in the Plan, (a) the terms “include” and “including” shall be deemed to include the phrase “but not limited to”
and (b) masculine pronouns shall include the feminine. 

  
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 ARTICLE 3.  ELIGIBILITY 

3.1.    In General. 
 Any natural
person is eligible to be granted an Award if such individual is a current employee, officer, director, consultant, or advisor of the Company or any of the Company’s present or future parent or subsidiary corporations as defined in
sections 424(e) or (f) of the Code or any other business venture (including, without limitation, a joint venture or limited liability company) in which the Company has a controlling interest, as determined by the Compensation Committee.

  
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 ARTICLE 4.  ADMINISTRATION OF THE PLAN 

4.1.    In General. 

(a) The Plan will be administered by the Compensation Committee. The Compensation Committee shall have discretionary authority to grant Awards
and determine recipients and terms of any Awards, and to adopt, amend and repeal administrative rules, guidelines and practices relating to the Plan. 

(b) The Compensation Committee shall have full discretionary authority to: 

(1) to select the employees, officers, directors, consultants, or advisors to whom Awards may be granted; 

(2) to determine whether and to what extent Awards are granted; 

(3) to determine the number of shares of common stock subject to any Award; 

(4) to approve forms of Award Certificate for use under the Plan; 

(5) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award (including the exercise
price and any restriction or limitation, or any vesting acceleration or waiver of forfeiture restrictions and the form of consideration to be paid to the Company for the exercise of any Stock Option, SAR or purchase of Shares with respect to an
Award); 
 (6) to determine the time or times when each Stock Option or SAR shall become exercisable and the duration of the
exercise period; 
 (7) to determine whether restrictions are to be imposed on Shares subject to Awards and the nature of
such restrictions, if any; 
 (8) to determine whether, to what extent and under what circumstances common stock and other
amounts payable with respect to an Award shall be deferred either automatically or at the election of the participant (including providing for and determining the amount, if any, of any deemed earnings on any deferred amount during any deferral
period); 
 (9) to construe and interpret the terms of the Plan and Awards; 

(10) to institute an option exchange program; 

  
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 (11) to determine all facts necessary to administer the Plan and any Award or
Award Certificate; and 
 (12) to make all other determinations necessary or advisable for the administration of the Plan.

 (c) The Compensation Committee shall have the discretion to correct any defect, supply any omission or reconcile any inconsistency in the
Plan or any Award Certificate in the manner and to the extent it shall deem necessary or advisable. 
 (d) All decisions by the Compensation
Committee shall be made in its sole discretion and shall be final and binding on all persons having or claiming any interest in the Plan or in any Award. No director or person acting pursuant to the authority delegated by the Compensation Committee
shall be liable for any action or determination relating to or under the Plan made in good faith. 
 (e) With respect to Awards made to
directors, the Board shall also have the authority described in this Section 4.1 and Section 8.5. 
 4.2.    Delegation to
Committees and Officers. 
 (a) To the extent permitted by applicable law, the Compensation Committee may delegate any or all of its
powers under the Plan to one or more committees or subcommittees of the Company’s management. 
 (b) To the extent permitted by
applicable law and subject to any limitations under the Plan, the Compensation Committee may delegate to one or more officers of the Company the power (1) to grant Awards to any individual eligible under Section 3.1 other than a director
or executive officer and (2) to exercise such other powers under the Plan as the Compensation Committee may determine; provided further, however, that no officer shall be authorized to grant Awards to himself or herself. 

(c) All references in the Plan to the “Compensation Committee” shall mean the Compensation Committee or a committee of the Board (or
the Company’s management) or the officers referred to in Section 4.2(b) to the extent that the Compensation Committee’s powers or authority under the Plan have been delegated to such committee or officers. 

  
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 ARTICLE 5.  STOCK SUBJECT TO THE PLAN 

5.1.    Number of Shares. 

(a) Subject to adjustment under ARTICLE 7, Awards may be made under the Plan for up to 1,500,000 Shares, plus any shares subject to the Prior
Plan that remain available for grant as of the Effective Date. All of the Shares available for Awards under the Plan can be issued as Incentive Stock Options. 

(b) If any Award expires or is terminated, surrendered or canceled without having been fully exercised, is forfeited in whole or in part, or
results in any Shares not being issued, the unused Shares covered by such Award shall again be available for the grant of Awards under the Plan, except to the extent prohibited by law. Shares issued under the Plan shall consist of authorized but
unissued shares. 
 5.2.    Substitute Awards. 

(a) In connection with a merger or consolidation of an entity with the Company or the acquisition by the Company of property or stock of an
entity, the Compensation Committee may grant Awards in substitution for any options or other stock or stock-based awards granted by such entity or an affiliate thereof. Substitute Awards may be granted on such terms as the Compensation Committee
deems appropriate in the circumstances. 
 (b) Substitute Awards shall not count against the overall share limit set forth in
Section 5.1, except as may be required by reason of section 422 and related provisions of the Code. 

  
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 ARTICLE 6.  TYPES OF AWARDS 

6.1.    Stock Options. 

(a) In General. The Compensation Committee may grant options to purchase Shares and determine the number of Shares to be covered by each
option, the exercise price of each option and the conditions and limitations applicable to the exercise of each option, including conditions relating to applicable federal or state securities laws, as it considers necessary or advisable. A Stock
Option that is not intended to be an Incentive Stock Option shall be designated as a “Nonstatutory Stock Option” or a “Nonqualified Stock Option.” 

(b) Incentive Stock Options. 

(1) A Stock Option that the Compensation Committee intends to be an Incentive Stock Option shall only be granted to employees
of the Company or any of the Company’s present or future parent or subsidiary corporations as defined in sections 424(e) or (f) of the Code, and any other entities the employees of which are eligible to receive Incentive Stock Options
under the Code, and shall be subject to and construed consistently with the requirements of section 422 of the Code. 
 (2)
A Stock Option that is intended to be an Incentive Stock Option shall be treated as a Nonqualified Stock Option to the extent that, in the calendar year in which the Award is first exercisable, the aggregate Fair Market Value of the Shares subject
to the Award (when added to other awards granted to the same individual that are intended to be Incentive Stock Options under the Plan or any other plan maintained by the Company and certain related corporations) exceeds $100,000 or such other
limitation as might apply under section 422 of the Code. 
 (3) The Company shall have no liability to a Participant, or any
other party, if a Stock Option (or any part thereof) that is intended to be an Incentive Stock Option is not an Incentive Stock Option, or for any action taken by the Compensation Committee, including without limitation the conversion of an
Incentive Stock Option to a Nonstatutory Stock Option. 

  
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 (c) Exercise Price. 

(1) The Compensation Committee shall establish the exercise price of each Stock Option and specify the exercise price in the
applicable Award Certificate. 
 (2) The exercise price of a Stock Option shall not be less than 100% of the Fair Market
Value of a Share on the date the Stock Option is granted, except that, if any Incentive Stock Option is granted to a Ten Percent Stockholder, the exercise price shall not be less than 110% of the Fair Market Value of a Share on the date such
Incentive Stock Option is granted. The 100% and 110% limitation in this Section 6.1(c)(2) shall automatically adjust to the extent required by section 422 of the Code. 

(d) Term of Stock Options. 

(1) Each Stock Option shall be exercisable at such times and subject to such terms and conditions as the Compensation
Committee may specify in the applicable Award Certificate; except that no Stock Option shall be granted for a term of more than 10 years. Incentive Stock Options issued to a Ten Percent Stockholder shall not have a term of more than 5 years. 

(2) If a Participant’s status as an employee or consultant terminates for any reason other than by reason of death or
Disability, such Participant may, but only within thirty (30) days (or such other period of time, not exceeding three (3) months in the case of an Incentive Stock Option or six (6) months in the case of a Nonstatutory Stock Option, as
is determined by the Compensation Committee) after the date of such termination (but in no event later than the date of expiration of the term of such Stock Option as set forth in the Award Certificate), exercise his or her Stock Option to the
extent that he or she was entitled to exercise it at the date of termination. To the extent that the Participant was not entitled to exercise the Stock Option at the date of termination, or if the Participant does not exercise the Stock Option
within the time specified herein, the Stock Option shall terminate. 
 (3) No Stock Option shall permit the Participant to
defer receipt of compensation on the Stock Option beyond the date of exercise, unless the Compensation Committee expressly determines that such Stock Option shall be subject to section 409A of the Code. 

(e) Exercise of Stock Option. 

  
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 (1) Stock Options may be exercised by delivery to the Company of a written notice
of exercise in the form attached to, or the manner described in, the Award Certificate or by any other form of notice (including electronic notice) or such other manner approved by the Compensation Committee, together with payment in full for the
number of shares for which the Stock Option is exercised. Shares subject to the Stock Option will be delivered by the Company as soon as practicable following exercise. A Stock Option may not be exercised for a fraction of a Share. 

(2) A Stock Option shall be deemed to be exercised when written notice of such exercise has been given to the Company in
accordance with the terms of the Stock Option by the person entitled to exercise the Stock Option and full payment for the Shares with respect to which the Stock Option is exercised has been received by the Company. Full payment may, as authorized
by the Compensation Committee, consist of any consideration and method of payment allowable under Section 6.1(f). Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of
the Company) of the stock certificate evidencing such Shares, no right to vote or receive dividends or any other rights as a stockholder shall exist with respect the Shares, notwithstanding the exercise of the Stock Option. The Company shall issue
(or cause to be issued) such stock certificate promptly upon exercise of the Stock Option. No adjustment will be made for a dividend or other right for which the record date is before the date the stock certificate is issued. 

(3) Exercise of a Stock Option in any manner shall result in a decrease in the number of Shares which thereafter may be
available, both for purposes of the Plan and for sale under the Stock Option, by the number of Shares as to which the Stock Option is exercised. 

(f) Payment Upon Exercise. 

Shares purchased upon the exercise of a Stock Option granted under the Plan shall be paid for as follows: 

(1) in cash or by check, payable to the Company; 

(2) if provided in the applicable Award Certificate, by (A) delivery of an irrevocable and unconditional undertaking by a
creditworthy 

  
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broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (B) delivery by the Participant to the Company of a copy of
irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding; 

(3) authorization to the Company to retain from the total number of Shares as to which the Option is exercised that number of
Shares having a Fair Market Value on the date of exercise equal to the exercise price for the total number of Shares as to which the Option is exercised; 

(4) to the extent provided for in the applicable Award Certificate or approved by the Compensation Committee, by delivery
(either by actual delivery or attestation) of Shares owned by the Participant valued at their Fair Market Value, provided (A) such method of payment is then permitted under applicable law, (B) such Shares, if acquired directly from the
Company, were owned by the Participant for such minimum period of time, if any, as may be established by the Compensation Committee, and (C) such Shares are not subject to any repurchase, forfeiture, unfulfilled vesting or other similar
requirements; 
 (5) to the extent permitted by applicable law and provided for in the applicable Award Certificate, by
(1) delivery of a promissory note of the Participant to the Company on terms determined by the Compensation Committee, or (2) payment of such other lawful consideration as the Compensation Committee may determine; 

(6) as determined by the Compensation Committee, such other consideration and method of payment for the issuance of Shares to
the extent permitted under applicable laws; or 
 (7) by any combination of the above-permitted forms of payment. 

(g) Disability of Participant. 

(1) If a Participant’s status as an employee or consultant terminates by reason of the Participant’s Disability, all
unvested Stock Options shall immediately vest, and the Participant may, but only within twelve (12) months (or such shorter period of time as is determined by the Compensation Committee) from the date of such termination (but in no event later
than the date of 

  
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expiration of the term of such Stock Option), exercise his or her Stock Option. 

(2) To the extent that the Participant does not exercise a Stock Option within the time specified above, the Stock Option
shall terminate. 
 (h) Death of Participant. 

(1) If a Participant’s status as an employee or consultant terminates by reason of the Participant’s death, all
unvested Stock Options held by the Participant shall immediately vest, and the Stock Options may be exercised, at any time within twelve (12) months (or such shorter period of time as is determined by the Compensation Committee) following the
date of death (but in no event later than the date of expiration of the term of such Stock Option as set forth in the Award Certificate), by the Participant’s estate or by a person who acquired the right to exercise the Option by bequest or
inheritance; or 
 (2) If a Participant dies within thirty (30) days (or such other period of time not exceeding three
(3) months as is determined by the Compensation Committee) after his or her status as an employee or consultant terminates, the Stock Options may be exercised, at any time within twelve (12) months (or such shorter period of time as is
determined by the Compensation Committee) following the date of death (but in no event later than the date of expiration of the term of such Stock Option as set forth in the Award Certificate), by the Participant’s estate or by a person who
acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the right to exercise had accrued as of the date of termination or cessation. 

6.2.    Stock Appreciation Rights. 

(a) In General. A Stock Appreciation Right is an Award in the form of a right to receive cash or a Share, upon surrender of the Stock
Appreciation Right, in an amount equal to the appreciation in the value of the Share over a base price established in the Award. The Committee may grant Stock Appreciation Rights either independently of Stock Options, or in tandem with Stock Options
such that the exercise of the Stock Option or Stock Appreciation Right cancels the tandem Stock Appreciation Right or Stock Option. 
 (b)
Exercise Price. The minimum base price of a Stock Appreciation Right granted under the Plan shall be the price set forth in the applicable 

  
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Award Certificate, or, in the case of a Stock Appreciation Right related to a Stock Option (whether already outstanding or concurrently granted), the exercise price of the related Stock Option.

 (c) Term, Exercise, Payment, Etc. The provisions of Section 6.1(d) shall generally apply to Stock Appreciation Rights, as
applicable. 
 6.3.    Restricted Stock. 

(a) In General. The Compensation Committee may grant Awards of Restricted Stock. The Compensation Committee shall determine the terms
and conditions of a Restricted Stock Award, including the conditions for vesting and repurchase (or forfeiture), the issue price (if any) and whether the Shares shall be entitled to exercise voting or other rights associated with ownership of a
Share. 
 (b) Dividends. Unless otherwise provided by the Compensation Committee, Participants holding Restricted Stock will be
eligible to receive all dividends paid with respect to such Shares. If any dividends or distributions are paid in shares, or consist of a dividend or distribution to holders of Shares other than an ordinary cash dividend, the shares or other
property will be subject to the same restrictions on transferability and forfeitability as the Restricted Stock with respect to which they were paid. Each dividend payment will be made no later than the end of the calendar year in which the
Restricted Stock on which such dividends are paid vests or, if later, the 15th day of the third month following the date on which the Restricted Stock on which such dividends are paid vests. 

(c) Stock Certificates. The Company may require that any stock certificates issued for shares of Restricted Stock be deposited in
escrow by the Participant, together with a stock power endorsed in blank, with the Company (or its designee). At the expiration of the applicable restriction periods, the Company (or such designee) shall deliver the certificates no longer subject to
such restrictions to the Participant. If the Participant has died before the certificates are delivered, the certificates shall be delivered to the beneficiary designated by the Participant under the Plan and on file with the Company (or its
designee) before the Participant’s death. If there is no such valid beneficiary designation, the Participant’s estate shall be the beneficiary. 

(d) Termination of Employment. If a Participant’s status as an employee or consultant terminates for any reason other than by
reason of death or Disability, any Award of Restricted Stock that remains subject to 

  
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restrictions shall immediately terminate, and the Participant shall not receive any Shares or be entitled to any payment or other consideration. If a Participant’s status as an employee or
consultant terminates by reason of his or her death or Disability, all restrictions on Awards of Restricted Stock shall immediately lapse and the Participant (or his or her estate or other beneficiary) shall receive the applicable Shares. 

6.4.    Restricted Stock Units. 

(a) The Compensation Committee may grant Restricted Stock Units to any participant subject to the same conditions and restrictions as the
Compensation Committee would have imposed in connection with any Award of Restricted Stock. Each Restricted Stock Unit shall have a value equal to the Fair Market Value of one Share. Restricted Stock Units may be paid at such time as the
Compensation Committee may determine and payments may be made in a lump sum or in installments, in cash, Shares, or any combination thereof, as determined by the Compensation Committee. 

(b) If a Participant’s status as an employee or consultant terminates for any reason other than by reason of death or Disability, any
Award of Restricted Stock Units that remains unvested shall immediately terminate, and the Participant shall not receive any Shares or be entitled to any payment or other consideration. If a Participant’s status as an employee or consultant
terminates by reason of his or her death or Disability, all Awards of Restricted Stock Units shall immediately vest and the Participant (or his or her estate or other beneficiary) shall receive the applicable payment. 

6.5.    Other Stock-Based Awards. 

Other Awards that are valued in whole or in part by reference to, or are otherwise based on, Shares or other property, may be granted under the Plan to
Participants. To the extent permitted by law, such other Share Awards shall also be available as a form of payment in the settlement of other Awards granted under the Plan or as payment in lieu of compensation to which a Participant is otherwise
entitled. Other Share Awards may be paid in Shares or cash, as the Compensation Committee shall determine. Subject to the provisions of the Plan, the Compensation Committee shall determine the terms and conditions of each other Share Award. 

6.6.    Cash Awards. 
 Cash Awards are
Awards that provide participants with the opportunity to earn a cash payment based upon the achievement of one or more performance goals for a performance period determined by the Compensation Committee. For each

  
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performance period, the Compensation Committee shall determine the relevant performance criteria, the performance goal for each performance criterion, the level or levels of achievement necessary
for Awards to be paid, the weighting of the performance goals if more than one performance goal is applicable, and the size of the Awards. 

6.7.    Performance-Based Awards. 

(a) In General. Any of the Awards listed in ARTICLE 6 may be granted as Awards that satisfy the requirements for “performance-based
compensation” within the meaning of section 162(m) of the Code. The performance goals must be established by the Compensation Committee and may be for the Company, or a Company subsidiary, affiliate or other Company operating unit or
department, or a combination of such units or departments. The performance goal shall be based on one or more performance criteria selected by the Compensation Committee. With the exception of any Stock Option or Stock Appreciation Right, an Award
that is intended to satisfy the requirements of a performance-based Award shall be so designated at the time of grant. 
 (b) Limits.
The maximum aggregate number of shares of Stock for which performance-based Awards may be issued under this Section 6.7 in any calendar year to an individual Participant shall not exceed 500,000, the maximum amount that may be earned as a Cash
Award for a performance period for a single calendar year by any individual Participant is $2,000,000, and the maximum amount that may be earned as a Cash Award for a performance period of greater than a single calendar year by any individual
Participant is $2,000,000. 
 (c) Performance Criteria. In the case of Awards intended to qualify as performance-based Awards, the
performance criteria shall be selected only from among the following: production growth; reserve growth; reserve replacement; lease operating expense; revenue growth; finding/development costs; net sales; operating income; pre- or after-tax income;
operating profit minus capital charges; cash flow, including operating cash flow, free cash flow, cash flow return on equity and cash flow return on investment; net income; earnings per share; earnings before interest and taxes; earnings before
interest, taxes, depreciation and/or amortization; return on equity; return on invested capital; return on assets; economic value added (or an equivalent measure); share price performance; total stockholder return; improvement in or achievement of
expense levels; improvement in or achievement of working capital levels; innovation as measured by a percentage of sales of new products; market share; productivity ratios; completion and/or 

  
 17 

 
integration of acquisitions of businesses or companies; completion of divestitures and asset sales; sales goals, measured in an aggregate or on a product-specific basis; research and development
goals, including development and marketing milestones, and the completion of Phase II and Phase III studies; developing and strengthening the Company’s intellectual property, including filing new patent applications or the licensing of patents;
and any combination of any of the foregoing business criteria. Any of the performance criteria may be used to measure the performance of the Company, a subsidiary, and/or affiliate as a whole or any business unit of the Company, a subsidiary, and/or
affiliate or any combination thereof, as the Compensation Committee may deem appropriate, or any of the above performance criteria as compared to the performance of a group of comparator companies, or published or special index that the Compensation
Committee deems appropriate. The Compensation Committee also has the authority to provide for accelerated vesting of any Award based on the achievement of the performance criteria specified in this Section 6.7. 

(d) Application to Stock Options and Stock Appreciation Rights. Notwithstanding anything contained in this Section 6.7 to the
contrary, Stock Options and Stock Appreciation Rights need not satisfy the specific performance criteria described in this Section 6.7 in order to qualify as performance-based Awards under this section 162(m) of the Code. 

(e) Time for Establishing Performance Goals. The specific performance goal(s) and the applicable performance criteria must be
established by the Compensation Committee in advance of the deadlines applicable under section 162(m) of the Code and while the achievement of the performance goal(s) remains substantially uncertain. 

(f) Committee Certification and Payment of Awards. Before any performance-based Award (other than Stock Options and Stock Appreciation
Rights) is paid, the Compensation Committee must certify in writing (by resolution or otherwise) that the applicable performance goal(s) and any other material terms of the Award have been satisfied. Unless otherwise provided by the Compensation
Committee, performance-based Awards shall be paid as soon as practicable after the Compensation Committee has certified that the applicable goals and terms of such awards have been satisfied, but in no event later than the fifteenth (15th) day of the third month following the end of the performance period to which the award relates (absent a timely election to defer such Award under a deferred compensation plan, if any,
maintained by the Company). Notwithstanding the 

  
 18 

 
foregoing, to the extent an amount was intended to be paid so as to qualify as a short-term deferral under section 409A of the Code and the applicable regulations, then such payment may be
delayed if the requirements of Treas. Reg. 1.409A-1(b)(4)(ii) are met. In such case, payment of such deferred amounts must be made as soon as reasonably practicable following the first date on which the Company anticipates or reasonably should
anticipate that, if the payments were made on such date, the Company’s deduction with respect to such payment would no longer be restricted due to the applicability of section 162(m) of the Code. 

(g) Terms and Conditions of Awards; Committee Discretion to Reduce Performance Awards. The Compensation Committee shall have discretion
to determine the conditions, restrictions or other limitations, in accordance with, and subject to, the terms of the Plan and section 162(m) of the Code, on the payment of individual Awards under this Section 6.7. To the extent set forth in an
Award Certificate, the Compensation Committee may reserve the right to adjust the amount payable in accordance with any standards or on any other basis (including the Compensation Committee’s discretion), as the Compensation Committee may
determine; provided, however, that, in the case of Awards intended to qualify as performance-based Awards, such adjustments shall be prescribed in a form that meets the requirements of section 162(m) of the Code. 

(h) Adjustments for Material Changes. To the extent the Compensation Committee makes adjustments in accordance with ARTICLE 7 that
affect Awards intended to be performance-based Awards under this Section 6.7, such adjustments shall be prescribed in a form that meets the requirements of section 162(m) of the Code. 

  
 19 

 ARTICLE 7.  ADJUSTMENTS 

7.1.    Changes in Capitalization. 
 In
the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Shares
other than an ordinary cash dividend, (a) the number and class of securities available under this Plan, (b) the number and class of securities and exercise price per Share of each outstanding Stock Option, (c) the number of Shares
subject to each outstanding Restricted Stock Award, and (d) the terms of each other outstanding Award shall be equitably adjusted by the Company (or substituted Awards may be made, if applicable) in the manner determined by the Compensation
Committee. Without limiting the generality of the foregoing, if the Company effects a split of the Shares by means of a stock dividend and the exercise price of and the number of Shares subject to an outstanding Stock Option are adjusted as of the
date of the distribution of the dividend (rather than as of the record date for such dividend), then an optionee who exercises a Stock Option between the record date and the distribution date for such stock dividend shall be entitled to receive, on
the distribution date, the stock dividend with respect to the Shares acquired upon such Stock Option exercise, notwithstanding the fact that such Shares were not outstanding as of the close of business on the record date for such stock dividend.

 7.2.    Change in Control. 

(a) In the event of a Change in Control, all outstanding Awards and any restricted Shares acquired on the exercise of an Award shall either:

 (1) be assumed or an equivalent award shall be substituted by such successor corporation or a parent or subsidiary of
such successor corporation, and no additional vesting or waiver of forfeiture restrictions shall occur as a result of the Change in Control unless the Award holder is terminated other than for “cause” or quits for “good reason,”
as those terms are defined in the relevant Award Certificate, during the three-year period beginning on the date of the Change in Control, in which case any Awards and any restricted Shares acquired on the exercise of such an Award shall become
vested and immediately and fully exercisable, and all forfeiture restrictions shall be waived, or 
 (2) if not so assumed
or substituted, become vested and immediately and fully exercisable, and all forfeiture restrictions shall be waived, and may terminate ten (10) days after the Compensation Committee shall notify the holder of such vesting and termination. 

  
 20 

 (b) For the purposes of this Section, the Award shall be considered assumed if, following the
merger or sale of assets, the Award confers the right to purchase or receive, for each Share subject to the Award immediately before the merger or sale of assets, the consideration (whether stock, cash, or other securities or property) received in
the merger or sale of assets by holders of common stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the
outstanding Shares); provided, however, that if such consideration received in the merger or sale of assets is not solely common stock of the successor corporation or its parent, the Compensation Committee may, with the consent of the successor
corporation, provide for the consideration to be received upon the exercise of the Award, for each Share subject to the Award, to be solely common stock of the successor corporation or its parent equal in fair market value to the per share
consideration received by holders of common stock in the merger or sale of assets. 

  
 21 

 ARTICLE 8.  GENERAL PROVISIONS APPLICABLE TO ALL AWARDS. 

8.1.    Transferability of Awards. 

Except as the Compensation Committee may otherwise determine or provide in an Award Certificate, Awards shall not be sold, assigned, transferred, pledged or
otherwise encumbered by the person to whom they are granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution or, other than in the case of an Incentive Stock Option, pursuant to a qualified domestic
relations order, and, during the life of the Participant, shall be exercisable only by the Participant. References to a Participant, to the extent relevant in the context, shall include references to authorized transferees. 

8.2.  Termination of Status. 
 Except to the
extent provided in an Award Certificate or as set forth above, the Compensation Committee shall determine the effect on an Award of the Disability, death, termination or other cessation of employment, authorized leave of absence or other change in
the employment or other status of a Participant and the extent to which, and the period during which, the Participant, or the Participant’s legal representative, conservator, guardian or Beneficiary, may exercise rights under the Award. 

8.3.  Withholding. 
 The Participant must
satisfy all applicable federal, state, and local or other income and employment tax withholding obligations before the Company will deliver stock certificates or otherwise recognize ownership of Shares under an Award. The Company may decide to
satisfy the withholding obligations through additional withholding on salary or wages. If the Company elects not to or cannot withhold from other compensation, the Participant must pay the Company the full amount, if any, required for withholding.
Payment of withholding obligations is due before the Company will issue any Shares on exercise or release from forfeiture of an Award or, if the Company so requires, at the same time as is payment of the exercise price unless the Company determines
otherwise. To the extent not otherwise provided for in an Award Certificate or approved by the Compensation Committee, a Participant shall satisfy such tax obligations in whole or in part by delivery of a portion of the Award creating the tax
obligation, valued at Fair Market Value; provided, however, except as otherwise provided by the Compensation Committee, that the total tax withholding where stock is being used to satisfy such tax obligations cannot exceed the Company’s minimum
statutory withholding obligations (based on minimum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income). Shares surrendered to satisfy tax withholding
requirements cannot be 

  
 22 

 
subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements. 

8.4.    Conditions on Delivery of Stock. 

The Company will not be obligated to deliver any Shares pursuant to the Plan or to remove restrictions from Shares previously delivered under the Plan until
(a) all conditions of the Award have been met or removed to the satisfaction of the Company, (b) in the opinion of the Company’s counsel, all other legal matters in connection with the issuance and delivery of such Shares have been
satisfied, including any applicable securities laws and any applicable stock exchange or stock market rules and regulations, and (c) the Participant has executed and delivered to the Company such representations or agreements as the Company may
consider appropriate to satisfy the requirements of any applicable laws, rules or regulations. 
 8.5.    Acceleration. 

The Compensation Committee or its delegee may at any time provide that any Award shall become immediately exercisable in full or in part, free of some or all
restrictions or conditions, or otherwise realizable in full or in part, as the case may be. 

  
 23 

 ARTICLE 9.  MISCELLANEOUS 

9.1.    No Right to Employment or Other Status. 

No person shall have any claim or right to be granted an Award, and the grant of an Award shall not be construed as giving a Participant the right to continued
employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any liability or claim under the Plan, except as expressly
provided in the applicable Award Certificate. 
 9.2.    No Rights as Stockholder. 

Subject to the provisions of the applicable Award Certificate and except as provided in Section 6.3, no Participant or beneficiary shall have any rights
as a stockholder with respect to any Shares to be distributed with respect to an Award until becoming the record holder of such shares. 

9.3.    Amendment. 

(a) Amendment of the Plan. The Compensation Committee may amend, suspend or terminate the Plan or any portion of the Plan at any time;
provided, however, that the Compensation Committee may not effect such modification or amendment without approval of the Company’s stockholders if: 

(1) At the time of the amendment such approval is required under (A) section 422 of the Code or any successor provision
with respect to Incentive Stock Options, (B) the listing standards of the exchange on which the Company’s common stock is at the time primarily traded, or (C) any other applicable law or regulation, or 

(2) Such amendment will result in (A) the downward repricing of any Stock Option or SAR, (B) the cancellation of a
Stock Option or SAR in exchange for new a Stock Option or SAR with a lower exercise price, (C) the substitution of a full value Award for a Stock Option or SAR that has an exercise price below the Fair Market Value of a Share at the time of the
substitution (an “underwater Stock Option or SAR”), or (D) the buyback or buyout of an underwater Stock Option or SAR in exchange for cash or a new Award. 

Unless otherwise specified in the amendment, any amendment to the Plan adopted in accordance with this Section 9.3 shall apply to, and be binding on the
holders of, all Awards outstanding under the Plan at the time the amendment is adopted, provided the Compensation Committee determines that such amendment, taking into account any related action, does not materially and adversely affect the rights
of Participants under the Plan. 

  
 24 

 (b) Amendment of Award. Subject to the terms of 9.3(a), the Compensation Committee may amend,
modify or terminate any outstanding Award, including but not limited to, substituting another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock
Option. The Participant’s consent to such action shall be required unless the Compensation Committee determines that the action, taking into account any related action, would not materially and adversely affect the Participant’s rights
under the Plan. 
 9.4.    Compliance with Code Section 409A. 

No Award shall provide for a deferral of compensation within the meaning of section 409A of the Code, unless the Compensation Committee, at the time of grant,
specifically provides that the Award is intended to be subject to section 409A of the Code. If an Award is intended to be subject to section 409A, the following provisions shall apply except to the extent that a contrary provision is included in the
Award Certificate: (a) such Award shall be payable on the earlier of a “change in control” or the Participant’s “separation from service” with the Company and (2) any payment made to a Participant who is a
“specified employee” of the Company shall not be made before such date as is six months after the Participant’s “separation from service” to the extent required to avoid the adverse consequences of Section 409A of the
Code. For purposes of this Section 9.4, the terms “change in control,” “separation from service” and “specified employee” shall have the meanings set forth in section 409A and the applicable Treasury regulations.
The Company shall have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or compliant with, section 409A is not so exempt or compliant or for any action taken by the Compensation Committee. 

9.5.    Governing Law. 
 The
provisions of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance with the laws of the State of Delaware, excluding choice-of-law principles of the law of such state that would require the application of the
laws of a jurisdiction other than such state. 

  
 25Confirmation of Base Issuer Forward Transaction

 Exhibit 10.1 

EXECUTION VERSION 
  

					
		  		  	 Barclays Bank PLC
 5 The North Colonnade

Canary Wharf, London E14 4BB
 Facsimile: +44(20)77736461

Telephone: +44 (20) 777 36810
  

c/o Barclays Capital Inc.
 as Agent for Barclays Bank PLC

745 Seventh Ave
 New York, NY 10019

Telephone: +1 212 412 4000

  

			
	Date:	  	June 11, 2014
		
	To:	  	 Exelon Corporation
 10 South Dearborn Street, 52nd Floor
 P.O. Box 805398

Chicago, IL 60680-5398

	Attention:	  	Senior Vice President and Treasurer; General Counsel
	Facsimile:	  	(312) 394-4082; (312) 394-5443
		
	From:	  	Barclays Capital Inc., acting as Agent for Barclays Bank PLC
		
	Subject:	  	Base Issuer Forward Transaction

 Dear Sir(s): 

The purpose of this communication (this “Confirmation”) is to set forth the terms and conditions of the above-referenced
transaction entered into on the Trade Date specified below (the “Transaction”) between Barclays Bank PLC (“Dealer”), through its agent Barclays Capital Inc. (the “Agent”), and Exelon Corporation
(“Counterparty”). This communication constitutes a “Confirmation” as referred to in the Agreement specified below. This Confirmation is a confirmation for purposes of Rule 10b-10 promulgated under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”). 
 Each of Dealer and Counterparty acknowledges to and agrees with the other
party hereto and to and with the Agent that (i) the Agent is acting as agent for Dealer under the Transaction pursuant to instructions from Dealer, (ii) the Agent is not a principal or party to the Transaction, and may transfer its rights
and obligations with respect to the Transaction, (iii) the Agent shall have no responsibility, obligation or liability, by way of issuance, guaranty, endorsement or otherwise in any manner with respect to the performance of either party under
the Transaction, (iv) Dealer and the Agent have not given, and Counterparty is not relying (for purposes of making any investment decision or otherwise) upon, any statements, opinions or representations (whether written or oral) of Dealer or
the Agent, other than the representations expressly set forth in this Confirmation or the Agreement, and (v) each party agrees to proceed solely against the other party, and not the Agent, to collect or recover any money or securities owed to
it in connection with the Transaction. Each party hereto acknowledges and agrees that the Agent is an intended third party beneficiary hereunder. Counterparty acknowledges that the Agent is an affiliate of Dealer. Dealer will be acting for its own
account in respect of this Confirmation and the Transaction contemplated hereunder. Dealer is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 

The time of dealing for the Transaction will be confirmed by Dealer upon written request by Counterparty. The Agent will furnish to
Counterparty upon written request a statement as to the source and amount of any remuneration received or to be received by the Agent in connection with a Transaction. 

 Barclays Bank PLC is not a member of the Securities Investor Protection Corporation. 

1. This Confirmation is subject to, and incorporates, the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”) and the 2006
ISDA Definitions (the “Swap Definitions”), as published by the International Swaps and Derivatives Association, Inc. (“ISDA”). In the event of any inconsistency between the Equity Definitions and this Confirmation,
this Confirmation will govern. For purposes of the Equity Definitions, the Transaction will be deemed to be a Share Forward Transaction. 

This Confirmation shall supplement, form a part of and be subject to an agreement (the “Agreement”) in the form of the 1992
ISDA Master Agreement (Multicurrency—Cross Border) (the “ISDA Form”), as published by ISDA, as if Dealer and Counterparty had executed the ISDA Form on the date hereof (but without any Schedule except for (i) the election
of Loss and Second Method, New York law (without regard to New York’s choice of laws doctrine other than Title 14 of Article 5 of the New York General Obligations Law) as the governing law and US Dollars (“USD”) as the
Termination Currency, (ii) the replacement of the word “third” in the last line of Section 5(a)(i) with the word “first,” and (iii) the election that the “Cross Default” provisions of
Section 5(a)(vi) shall apply to Dealer and Counterparty; provided that the words, “, or becoming capable at such time of being declared,” shall be deleted from clause (1) thereof and with a “Threshold Amount” of 3% of
the stockholders’ equity of Dealer’s ultimate parent company in respect of Dealer and USD50 million in respect of Counterparty). All provisions contained in the Agreement are incorporated into and shall govern this Confirmation except as
expressly modified below and the election in Section 20 of this Confirmation that the definition of “Indemnifiable Tax” as defined in Section 14 of the Agreement shall not include any Section 871(m) Tax or FATCA Withholding
Tax, both as defined in Section 20 of this Confirmation. This Confirmation evidences a complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction and replaces any previous agreement between the parties
with respect to the subject matter hereof. 
 The Transaction hereunder shall be the sole Transaction under the Agreement. If there exists
any ISDA Master Agreement between Dealer or any of its Affiliates, including Dealer’s ultimate parent company (collectively, “Dealer Entities”) and Counterparty or any confirmation or other agreement between Dealer Entities and
Counterparty pursuant to which an ISDA Master Agreement is deemed to exist between Dealer Entitites, then notwithstanding anything to the contrary in such ISDA Master Agreement, such confirmation or agreement or any other agreement to which Dealer
Entities and Counterparty are parties, the Transaction shall not be considered a Transaction under, or otherwise governed by, such existing or deemed ISDA Master Agreement. 

2. The terms of the particular Transaction to which this Confirmation relates are as follows: 

 

			
	General Terms:	  	
		
	Trade Date:	  	June 11, 2014
		
	Effective Date:	  	June 17, 2014 (the “Scheduled Effective Date”), or such later date on which the conditions set forth in Section 3 of this Confirmation shall have been satisfied.
		
	Buyer:	  	Dealer
		
	Seller:	  	Counterparty
		
	Maturity Date:	  	October 29, 2015 (or, if such date is not a Scheduled Trading Day, the next following Scheduled Trading Day).
		
	Shares:	  	The shares of common stock, no par value per Share, of Counterparty (Ticker: “EXC”)
		
	Number of Shares:	  	Initially, (x) if no Initial Hedging Disruption (as defined below) occurs, 25,000,000 Shares (the “Full Number of Shares”) or (y) if an Initial

  
 2 

			
		  	Hedging Disruption occurs, the Reduced Number of Shares (as defined below), in each case, as reduced on each Relevant Settlement Date (as defined under “Settlement Terms” below) by the number of Settlement Shares to which
the related Valuation Date relates.
		
	Settlement Currency:	  	USD
		
	Exchange:	  	The New York Stock Exchange
		
	Related Exchange:	  	All Exchanges
		
	Prepayment:	  	Not Applicable
		
	Variable Obligation:	  	Not Applicable
		
	Forward Price:	  	On the Effective Date, USD33.9500, and on any day thereafter, the product of the Forward Price on the immediately preceding calendar day and
		
		  	1 + (the Relevant Rate * (1/365));
		
		  	provided that the Forward Price on each Forward Price Reduction Date shall be the Forward Price otherwise in effect on such date minus the Forward Price Reduction Amount for such Forward Price Reduction Date.
		
	Relevant Rate:	  	For any day, the USD-Federal Funds Rate minus 0.75%.
		
	USD-Federal Funds Rate:	  	For any day, the rate set forth for such day opposite the caption “Federal funds” as displayed on the page “FEDL <Index> <GO>” on the BLOOMBERG Professional Service, or any successor page; provided
that if no such rate appears for such day on such page, USD-Federal Funds Rate for such day shall be such rate for the immediately preceding day for which such a rate appears.
		
	Forward Price Reduction Dates:	  	Each date listed as such in Annex B.
		
	Forward Price Reduction Amount:	  	For each Forward Price Reduction Date, the Forward Price Reduction Amount set forth opposite such date on Annex B.
		
	Relevant Day:	  	Each day listed in Annex C hereto and every second Scheduled Trading Day after the last day so listed, as determined by the Calculation Agent. The Equity Definitions are hereby amended by replacing the following instances of the
defined term “Scheduled Trading Day” with the defined term “Relevant Day”: (i) in the definition of “Exchange Business Day” and (ii) in Article 6 of the Equity Definitions.
		
	Valuation:	  	
		
	Valuation Date:	  	For any Settlement (as defined below), if Physical Settlement is applicable, as designated in the relevant Settlement Notice (as defined below); or if Cash Settlement or Net Share Settlement is applicable, the last Unwind Date for
such Settlement. Section 6.6 of the Equity Definitions shall not apply to any Valuation Date.

  
 3 

			
		
	Unwind Dates:	  	For any Cash Settlement or Net Share Settlement, each Relevant Day on which Dealer (or its agent or affiliate) purchases Shares in the market in connection with such Settlement, starting on the First Unwind Date for such
Settlement.
		
	First Unwind Date:	  	For any Cash Settlement or Net Share Settlement, as designated in the relevant Settlement Notice.
		
	Unwind Period:	  	For any Cash Settlement or Net Share Settlement, the period starting on the First Unwind Date for such Settlement and ending on the Valuation Date for such Settlement.
		
	Settlement Terms:	  	
		
	Settlement:	  	Any Physical Settlement, Cash Settlement or Net Share Settlement of all or any portion of the Transaction.
		
	Settlement Notice:	  	Subject to “Early Valuation” below, Counterparty may elect to effect a Settlement of all or any portion of the Transaction by designating one or more Scheduled Trading Days following the Effective Date and on or prior to
the Maturity Date to be Valuation Dates (or, with respect to Cash Settlements or Net Share Settlements, by designating one or more Relevant Days following the Effective Date and on or prior to the 40th Relevant Day immediately preceding the Maturity
Date to be First Unwind Dates) in a written notice to Dealer delivered no later than the applicable Settlement Method Election Date (in the case of a Net Share Settlement or Cash Settlement) or the 5th Relevant Day immediately preceding the relevant
Valuation Date (in the case of a Physical Settlement), which notice shall also specify (i) the number of Shares (the “Settlement Shares”) for such Settlement (not to exceed the number of Undesignated Shares as of the date of such
Settlement Notice) and (ii) the Settlement Method applicable to such Settlement; provided that (A) Counterparty may not designate a First Unwind Date for a Cash Settlement or a Net Share Settlement if, as of the date of such Settlement
Notice, any Shares have been designated as Settlement Shares for a Cash Settlement or a Net Share Settlement for which the related Relevant Settlement Date has not occurred; and (B) if the Number of Shares as of the Maturity Date is not zero, then
the Maturity Date shall be a Valuation Date for a Physical Settlement and the number of Settlement Shares for such Settlement shall be the Number of Shares as of the Maturity Date (provided that if the Maturity Date occurs during any Unwind
Period, then the provisions set forth below opposite “Early Valuation” shall apply as if the Maturity Date were the Early Valuation Date).
		
	Undesignated Shares:	  	As of any date, the Number of Shares minus the number of Shares designated as Settlement Shares for Settlements for which the related Relevant Settlement Date has not occurred.
		
	Settlement Method Election:	  	Applicable; provided that:
		
		  	(i) Net Share Settlement shall be deemed to be included as an additional settlement method under Section 7.1 of the Equity Definitions;

  
 4 

			
		
		  	(ii) Counterparty may elect Cash Settlement or Net Share Settlement only if Counterparty represents and warrants to Dealer in the Settlement Notice containing such election that, as of the date of such Settlement Notice, (A)
Counterparty is not aware of any material nonpublic information concerning itself or the Shares, (B) Counterparty is electing the settlement method and designating the First Unwind Date specified in such Settlement Notice in good faith and not as
part of a plan or scheme to evade compliance with Rule 10b-5 under the Exchange Act (“Rule 10b-5”) or any other provision of the federal securities laws, (C) Counterparty is not “insolvent” (as such term is defined under
Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”)), (D) Counterparty would be able to purchase a number of Shares equal to the greater of (x) the number of Settlement Shares
designated in such Settlement Notice and (y) a number of Shares with a value as of the date of such Settlement Notice equal to the product of (I) such number of Settlement Shares and (II) the then-current Forward Price in compliance with the laws of
Counterparty’s jurisdiction of organization, (E) it is not electing Cash Settlement or Net Share Settlement to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or
depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) and (F) such election, and settlement in accordance therewith, does not and will not violate or conflict with any law, regulation
or supervisory guidance applicable to Counterparty, or any order or judgment of any court or other agency of government applicable to it or any of its assets, and any governmental consents that are required to have been obtained by Counterparty with
respect to such election or settlement have been obtained and are in full force and effect and all conditions of any such consents have been complied with; and
		
		  	(iii) Notwithstanding any election to the contrary in any Settlement Notice, Physical Settlement shall be applicable:
		
		  	 (A)   to all of the Settlement Shares designated in such Settlement Notice if, on the date such Settlement Notice is
received by Dealer, (I) the trading price per Share on the Exchange (as determined by Dealer) is below USD16.9750 (the “Threshold Price”) or (II) Dealer determines, in its sole good faith and commercially reasonable judgment,
that it would be unable to purchase a number of Shares in the market sufficient to unwind its hedge position in respect of the Transaction and satisfy its delivery obligation hereunder, if any, by the Maturity Date (x) in a manner that
(A) would, if Dealer were Counterparty or an affiliated purchaser of Counterparty, be subject to the safe harbor provided by Rule 10b-18(b) under the Exchange Act and (B) would not raise material risks in light of any legal, regulatory or
self-regulatory requirements or related policies and procedures (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily adopted by Dealer) generally applicable to issuer share repurchases or equivalent
transactions, or (y) due to the lack of sufficient liquidity in the Shares (each, a “Trading Condition”); or

  
 5 

			
		  	 (B)   to all or a portion of the Settlement Shares designated in such Settlement Notice if, on any day during the
relevant Unwind Period, (I) the trading price per Share on the Exchange (as determined by Dealer) is below the Threshold Price or (II) Dealer determines, in its sole good faith and commercially reasonable judgment, that a Trading Condition has
occurred, in which case the provisions set forth below in the third paragraph opposite “Early Valuation” shall apply as if such day were the Early Valuation Date and (x) for purposes of clause (i) of such paragraph, such day shall be the
last Unwind Date of such Unwind Period and the “Unwound Shares” shall be calculated to, and including, such day and (y) for purposes of clause (ii) of such paragraph, the “Remaining Shares” shall be equal to the number of
Settlement Shares designated in such Settlement Notice minus the Unwound Shares determined in accordance with clause (x) of this sentence.

		
	Electing Party:	  	Counterparty
		
	Settlement Method Election Date:	  	With respect to any Settlement, the 5th Relevant Day immediately preceding the First Unwind Date, in the case of Cash Settlement or Net Share Settlement.
		
	Default Settlement Method:	  	Physical Settlement
		
	Physical Settlement:	  	Notwithstanding Section 9.2(a)(i) of the Equity Definitions, on the Settlement Date, Dealer shall pay to Counterparty an amount equal to the Forward Price on the relevant Valuation Date multiplied by the number of Settlement
Shares for such Settlement, and Counterparty shall deliver to Dealer such Settlement Shares.
		
	Settlement Date:	  	The Valuation Date.
		
	Net Share Settlement:	  	If Net Share Settlement applies, on the Net Share Settlement Date, if the Net Share Settlement Amount is greater than zero, Counterparty shall deliver a number of Shares equal to the Net Share Settlement Amount (rounded down to the
nearest integer) to Dealer, and if the Net Share Settlement Amount is less than zero, Dealer shall deliver a number of Shares equal to the absolute value of the Net Share Settlement Amount (rounded down to the nearest integer) to Counterparty, in
either case, in accordance with Section 9.4 of the Equity Definitions, with the Net Share Settlement Date deemed to be a “Settlement Date” for purposes of such Section 9.4, and, in either case, plus cash in lieu of any fractional Shares
included in the Net Share Settlement Amount but not delivered due to rounding required hereby, valued at the Settlement Price.
		
	Net Share Settlement Date:	  	The date that follows the Valuation Date by one Settlement Cycle.
		
	Net Share Settlement Amount:	  	For any Net Share Settlement, an amount equal to (i) the Forward Cash Settlement Amount divided by the Settlement Price plus (ii) a number of Shares corresponding to the aggregate Unwind Adjustment Amount(s), if any, for the
relevant Unwind Period, as determined by the Calculation Agent.

  
 6 

			
		
	Forward Cash Settlement Amount:	  	Notwithstanding Section 8.5(c) of the Equity Definitions, the Forward Cash Settlement Amount for any Cash Settlement or Net Share Settlement shall be equal to (i) the number of Settlement Shares for such Settlement multiplied
by (ii) an amount equal to (A) the Settlement Price minus (B) the Relevant Forward Price.
		
	Relevant Forward Price:	  	For any Cash Settlement or Net Share Settlement, the weighted average of the Forward Prices on each Unwind Date relating to such Settlement (weighted based on the number of Shares purchased by Dealer or its agent or affiliate on
each such Unwind Date in connection with such Settlement).
		
	Settlement Price:	  	For any Cash Settlement or Net Share Settlement, the weighted average price of the purchases of Shares made by Dealer (or its agent or affiliate) on each Unwind Date during the Unwind Period relating to such Settlement (weighted
based on the number of Shares purchased by Dealer or its agent or affiliate on each Unwind Date in connection with such Settlement), plus USD0.02.
		
	Unwind Activities:	  	The times and prices at which Dealer (or its agent or affiliate) purchases any Shares during any Unwind Period shall be at Dealer’s sole discretion. Without limiting the generality of the foregoing, in the event that Dealer
concludes, in its sole good faith and commercially reasonable discretion, that it is appropriate with respect to any legal, regulatory or self-regulatory requirements or related policies and procedures (whether or not such requirements, policies or
procedures are imposed by law or have been voluntarily adopted by Dealer) (a “Regulatory Disruption”), for it to refrain from purchasing Shares on any Scheduled Trading Day that would have been an Unwind Date but for the occurrence
of a Regulatory Disruption, Dealer may (but shall not be required to) notify Counterparty in writing that a Regulatory Disruption has occurred on such Scheduled Trading Day, specifying the nature of such Regulatory Disruption, and, for the avoidance
of doubt, such Scheduled Trading Day shall not be an Unwind Date and such Regulatory Disruption shall be deemed to be a Market Disruption Event.
		
	Relevant Settlement Date:	  	For any Settlement, the Settlement Date, Cash Settlement Payment Date or Net Share Settlement Date, as the case may be.
		
	Unwind Adjustment Amount:	  	For any Unwind Period to which Net Share Settlement Applies, for any Forward Price Reduction Date that occurs during the period from, and including, the date one Settlement Cycle immediately following the relevant First Unwind Date
to, and including, the date one Settlement Cycle immediately following the relevant Valuation Date, an amount determined by the Calculation Agent equal to the product of (i) the relevant Forward Price Reduction Amount multiplied by (ii)(A) if
the Net Share Settlement Amount calculated as of the date immediately prior to the relevant Forward Price Reduction Date is a positive number, such Net Share Settlement Amount or (B) otherwise, zero.
		
	Settlement Currency:	  	USD
		
	Other Applicable Provisions:	  	To the extent Dealer or Counterparty is obligated to deliver Shares hereunder, the provisions of Sections 9.2 (last sentence only), 9.8, 9.9, 9.10 and 9.11 of the Equity Definitions will be applicable as
if

  
 7 

			
		  	“Physical Settlement” applied to the Transaction; provided that, in such case, with respect to any delivery of Shares by Dealer, the Representation and Agreement contained in Section 9.11 of the Equity Definitions
shall be modified by excluding any representations therein relating to restrictions, obligations, limitations or requirements under applicable securities laws that exist as a result of the fact that Counterparty is the issuer of the Shares. In
addition, to the extent Counterparty is obligated to deliver Shares hereunder, the provisions of Section 9.12 of the Equity Definitions will be applicable as if “Physical Settlement” applied to the Transaction.
		
	Consequences of Late Delivery:	  	Without limiting the generality of this Confirmation, the Agreement and the Equity Definitions, if for any reason Counterparty fails to deliver when due any Shares required to be delivered hereunder and a Forward Price Reduction
Date occurs on or after the date such Shares are due and on or before the date such Shares are delivered, Counterparty acknowledges and agrees that, in addition to any other amounts for which Counterparty may be liable hereunder or under law (but
without duplication), Counterparty shall be liable to Dealer for an amount equal to the product of: (i) the number of Shares so due but not yet delivered on or prior to such Forward Price Reduction Date; and (ii) the Forward Price Reduction Amount
for such Forward Price Reduction Date.
		
	Share Adjustments:	  	
		
	Potential Adjustment Events:	  	An Extraordinary Dividend shall not constitute a Potential Adjustment Event.
		
	Extraordinary Dividend:	  	Any dividend or distribution on the Shares with an ex-dividend date occurring on any day following the Trade Date and prior to the Maturity Date (other than (i) any dividend or distribution of the type described in Section
11.2(e)(i) or Section 11.2(e)(ii)(A) of the Equity Definitions or (ii) a regular, quarterly cash dividend in an amount per Share equal to or less than the Forward Price Reduction Amount corresponding to the relevant quarter that has an ex-dividend
date no earlier than the Forward Price Reduction Date corresponding to the relevant quarter).
		
	Method of Adjustment:	  	Calculation Agent Adjustment
		
	Extraordinary Events:	  	
		
	Extraordinary Events:	  	The consequences that would otherwise apply under Article 12 of the Equity Definitions to any applicable Extraordinary Event (excluding any Failure to Deliver, Increased Cost of Hedging, Increased Cost of Stock Borrow or any
Extraordinary Event that also constitutes a Bankruptcy Termination Event, but including, for the avoidance of doubt, any other applicable Additional Disruption Event) shall not apply.
		
	Tender Offer:	  	Applicable
		
	Delisting:	  	In addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it shall also constitute a Delisting if the Exchange is

  
 8 

			
		  	located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors);
if the Shares are immediately re-listed, re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall be deemed to be the Exchange.
		
	Additional Disruption Events:	  	
		
	Change in Law:	  	Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof with the phrase “, or public announcement of,
the formal or informal interpretation”, (ii) by adding the phrase “and/or Hedge Position” after the word “Shares” in clause (X) thereof and (iii) by immediately following the word “Transaction” in clause (X)
thereof, adding the phrase “in the manner contemplated by the Hedging Party on the Trade Date”; and provided, further that (i) any determination as to whether (A) the adoption of or any change in any applicable law or
regulation (including, for the avoidance of doubt and without limitation, (x) any tax law or (y) adoption or promulgation of new regulations authorized or mandated by existing statute) or (B) the promulgation of or any change in the interpretation
by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law or regulation (including any action taken by a taxing authority), in each case, constitutes a “Change in Law” shall be made without regard to
Section 739 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or any similar legal certainty provision in any legislation enacted, or rule or regulation promulgated, on or after the Trade Date, and (ii) Section 12.9(a)(ii) of
the Equity Definitions is hereby amended by replacing the parenthetical beginning after the word “regulation” in the second line thereof with the phrase “(including, for the avoidance of doubt and without limitation, (x) any tax law
or (y) adoption or promulgation of new regulations authorized or mandated by existing statute)”.
		
	Failure to Deliver:	  	Applicable if Dealer is required to deliver Shares hereunder; otherwise, Not Applicable.
		
	Hedging Disruption:	  	Applicable
		
	Increased Cost of Hedging:	  	Applicable; provided that Section 12.9(b)(vi) of the Equity Definitions shall be amended by (i) deleting clause (C) of the second sentence thereof and (ii) deleting the third and fourth sentences thereof.
		
	Increased Cost of Stock Borrow:	  	Applicable; provided that Section 12.9(b)(v) of the Equity Definitions shall be amended by (i) deleting clause (C) of the second sentence thereof and (ii) deleting the third, fourth and fifth sentences thereof. For the
avoidance of doubt, upon the announcement of any event that, if consummated, would result in a Merger Event or Tender Offer, the term “rate to borrow Shares” as used in Section 12.9(a)(viii) of the Equity Definitions shall include any cost
borne or amount payable by the Hedging Party in respect of maintaining or reestablishing its hedge position, including, but not limited to, any assessment or other amount payable by the Hedging Party to a lender of Shares in respect of any merger or
tender offer premium, as applicable.

  
 9 

			
		
	 Initial Stock Loan Rate:
	  	25 basis points per annum
		
	Loss of Stock Borrow:	  	Applicable
		
	 Maximum Stock Loan Rate:
	  	200 basis points per annum
		
	Hedging Party:	  	For all applicable Additional Disruption Events, Dealer
		
	Determining Party:	  	For all applicable Extraordinary Events, Dealer
		
	Early Valuation:	  	
		
	Early Valuation:	  	Notwithstanding anything to the contrary herein, in the Agreement or in the Equity Definitions, at any time (x) concurrently with or following the occurrence of a Hedging Event, the declaration by Issuer of an Extraordinary
Dividend, or an ISDA Event or (y) if an Excess Section 13 Ownership Position, an Excess FPA Ownership Position or an Excess Regulatory Ownership Position exists, in either case, Dealer (or, in the case of an ISDA Event that is an Event of Default or
Termination Event, the party entitled to designate an Early Termination Date in respect of such event pursuant to Section 6 of the Agreement) shall have the right to designate any Scheduled Trading Day to be the “Early Valuation Date”, in
which case the provisions set forth in this “Early Valuation” section shall apply, in the case of an Event of Default or Termination Event, in lieu of Section 6 of the Agreement.
		
		  	If the Early Valuation Date occurs on a date that is not during an Unwind Period, then the Early Valuation Date shall be a Valuation Date for a Physical Settlement, and the number of Settlement Shares for such Settlement shall be
the Number of Shares on the Early Valuation Date; provided that Dealer may in its sole good faith and commercially reasonable discretion elect to permit Counterparty to elect Cash Settlement or Net Share Settlement, in which case Dealer will
determine the Relevant Day that will be the First Unwind Date for such Cash Settlement or Net Share Settlement.
		
		  	If the Early Valuation Date occurs during an Unwind Period, then (i) (A) the last Unwind Date of such Unwind Period shall be deemed to occur on the Early Valuation Date (or, if the Early Valuation Date is not a Relevant Day, the
immediately preceding Relevant Day), (B) a Settlement shall occur in respect of such Unwind Period, and the Settlement Method elected by Counterparty in respect of such Settlement shall apply (subject to the provisions under “Settlement
Terms” above in respect of the applicable Settlement Method), and (C) the number of Settlement Shares for such Settlement shall be the number of Unwound Shares for such Unwind Period on the Early Valuation Date (or, if the Early Valuation Date
is not a Relevant Day, the immediately preceding Relevant Day), and (ii) (A) the Early Valuation Date shall be a Valuation Date for an additional Physical Settlement (provided that Dealer may in its sole good faith and commercially reasonable
discretion elect that the Settlement Method elected by Counterparty for the Settlement described in clause (i) of this sentence shall apply, in which case Dealer will determine the Relevant Day that will be the First Unwind Date for such Cash
Settlement or Net Share Settlement) and (B) the number of Settlement Shares for such additional Settlement shall be the number of Remaining Shares on the Early Valuation Date.

  
 10 

			
		
		  	Notwithstanding the foregoing, in the case of a Nationalization or Merger Event, if at the time of the related Settlement Date or Net Share Settlement Date, as applicable, the Shares have changed into cash or any other property or
the right to receive cash or any other property, the Calculation Agent shall adjust the nature of the Shares as it determines appropriate to account for such change.
		
	ISDA Event:	  	(i) Any Event of Default or Termination Event, other than an Event of Default or Termination Event that also constitutes a Bankruptcy Termination Event, that gives rise to the right of either party to designate an Early Termination
Date pursuant to Section 6 of the Agreement or (ii) the announcement of any event or transaction that, if consummated, would result in a Merger Event, Tender Offer, Nationalization, Delisting or Change in Law, in each case, as determined by the
Calculation Agent.
		
	Amendment to Merger Event:	  	Section 12.1(b) of the Equity Definitions is hereby amended by deleting the remainder of such Section beginning with the words “in each case if the Merger Date is on or before” in the fourth to last line thereof.
		
	Hedging Event:	  	(i) A Loss of Stock Borrow or Hedging Disruption, (ii) (A) an Increased Cost of Stock Borrow or (B) an Increased Cost of Hedging, in the case of sub-clause (A) or (B), in connection with which Counterparty does not elect, and so
notify the Hedging Party of its election, in each case, within the required time period to either amend the Transaction pursuant to Section 12.9(b)(v)(A) or Section 12.9(b)(vi)(A) of the Equity Definitions, as applicable, or pay an amount determined
by the Calculation Agent that corresponds to the relevant Price Adjustment pursuant to Section 12.9(b)(v)(B) or Section 12.9(b)(vi)(B) of the Equity Definitions, as applicable or (iii) the occurrence of a Market Disruption Event during an Unwind
Period and the continuance of such Market Disruption Event for at least eight Scheduled Trading Days.
		
	Remaining Shares:	  	On any day, the Number of Shares as of such day (or, if such day occurs during an Unwind Period, the Number of Shares as of such day minus the Unwound Shares for such Unwind Period on such day).
		
	Unwound Shares:	  	For any Unwind Period on any day, the aggregate number of Shares with respect to which Dealer has unwound its hedge position in respect of the Transaction in connection with the related Settlement as of such day.
		
	Acknowledgements:	  	
		
	Non-Reliance:	  	Applicable
		
	Agreements and Acknowledgements Regarding Hedging Activities:	  	Applicable
		
	Additional Acknowledgements:	  	Applicable

  
 11 

			
	Transfer:	  	Notwithstanding anything to the contrary in the Agreement, Dealer may assign, transfer and set over all rights, title and interest, powers, privileges and remedies of Dealer under the Transaction, in whole or in part, to an
affiliate of Dealer whose obligation is guaranteed by Dealer or Dealer’s ultimate parent company without the consent of Counterparty provided that (x) Counterparty will neither (1) be required to pay, nor is there a substantial likelihood that
it would be required to pay, an additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section 9(h)) nor (2) receive a payment, nor is there a substantial likelihood that it would receive a
payment, from which an amount has been deducted or withheld for or on account of any Indemnifiable Tax in respect of which the other party is not required to pay an additional amount (other than by reason of Section 2(d)(i)(4)(A) or (B)), in either
case as a result of such transfer or assignment and (y) no Event of Default or Potential Event of Default occurs in respect of either party solely as a result of such transfer and assignment.
		
	Calculation Agent:	  	Dealer
		
	Counterparty Payment Instructions:	  	To be provided by Counterparty
		
	Dealer Payment Instructions:	  	Barclays Bank PLC
		  	ABA: 026-002-574
		  	BIC: BARCUS33
		  	Account: 50038524
		  	Beneficiary: BARCGB33
		  	REF: Barclays Bank PLC London Equity Derivative
		
	Counterparty’s Contact Details for Purpose of Giving Notice:	  	To be provided by Counterparty
		
	Dealer’s Contact Details for Purpose of Giving Notice:	  	Barclays Capital Inc.
		  	745 Seventh Ave
		  	New York, NY 10019
		  	Attention: Paul Robinson
		  	Phone: (+1) 212-526-0111
		  	Fax: (+1) 917-522-0458
		
		  	with a copy to:
		
		  	Barclays Capital Inc.
		  	745 Seventh Ave
		  	New York, NY 10019
		  	Attention: Legal, Equity Derivatives
		
		  	Barclays Bank PLC
		  	5 The North Colonnade
		  	Canary Wharf, London E14 4BB

  
 12 

 3. Effectiveness. 

The effectiveness of this Confirmation and the Transaction shall be subject to the following conditions: 

(a) the representations and warranties of Counterparty contained in the Underwriting Agreement dated as of June 11, 2014 among
Counterparty, Barclays Capital Inc. and Goldman, Sachs & Co., as representatives of the Underwriters party thereto (the “Underwriting Agreement”), and any certificate delivered pursuant thereto by Counterparty shall be true
and correct on the Effective Date as if made as of the Effective Date; 
 (b) Counterparty shall have performed all of the obligations
required to be performed by it under the Underwriting Agreement on or prior to the Effective Date; 
 (c) all of the conditions set forth in
Section 5 of the Underwriting Agreement shall have been satisfied; 
 (d) the Closing Date (as defined in the Underwriting Agreement)
shall have occurred as provided in the Underwriting Agreement; 
 (e) all of the representations and warranties of Counterparty hereunder
and under the Agreement shall be true and correct on the Effective Date as if made as of the Effective Date; 
 (f) Counterparty shall have
performed all of the obligations required to be performed by it hereunder and under the Agreement on or prior to the Effective Date, including without limitation its obligations under Section 6 hereof; and 

(g) Counterparty shall have delivered to Dealer an opinion of counsel in form and substance reasonably satisfactory to Dealer, with respect to
the matters set forth in Section 3(a) of the Agreement and that the Shares initially issuable hereunder have been duly authorized and, upon issuance pursuant to the terms of the Transaction, will be validly issued, fully paid and nonassessable.

 Notwithstanding the foregoing or any other provision of this Confirmation, if (x) on or prior to 9:00 a.m, New York City time, on the date the
Closing Date (as defined in the Underwriting Agreement) is scheduled to occur, Dealer, in its sole judgment, is unable to borrow and deliver for sale the Full Number of Shares or (y) in Dealer’s sole judgment, it would incur a stock loan
cost of more than 75 basis points per annum with respect to all or any portion of the Full Number of Shares (in each case, an “Initial Hedging Disruption”), the effectiveness of this Confirmation and the Transaction shall be limited
to the number of Shares Dealer may borrow at a cost of not more than 75 basis points per annum (such number of Shares, the “Reduced Number of Shares”), which, for the avoidance of doubt, may be zero. 

4. Additional Mutual Representations and Warranties. In addition to the representations and warranties in the Agreement, each party represents and
warrants to the other party that it is an “eligible contract participant”, as defined in the U.S. Commodity Exchange Act (as amended), and an “accredited investor” as defined in Section 2(a)(15)(ii) of the Securities Act of
1933 (as amended) (the “Securities Act”), and is entering into the Transaction hereunder as principal and not for the benefit of any third party. 

5. Additional Representations and Warranties of Counterparty. In addition to the representations and warranties in the Agreement and those contained
elsewhere herein, Counterparty represents and warrants to Dealer, and agrees with Dealer, that: 
 (a) without limiting the generality of
Section 13.1 of the Equity Definitions, it acknowledges that Dealer is not making any representations or warranties with respect to the treatment of the Transaction, including without limitation ASC Topic 260, Earnings Per Share, ASC
Topic 815, Derivatives and Hedging, FASB Statements 128, 133, as amended, 149 or 150, EITF 00-19, 01-6, 03-6 or 07-5, ASC Topic 480, Distinguishing Liabilities from Equity, ASC 815-40, Derivatives and Hedging – Contracts
in Entity’s Own Equity (or any successor issue statements) or under the Financial Accounting Standards Board’s Liabilities & Equity Project; 

(b) it will not take any action that would limit or in any way adversely affect Dealer’s ability to hedge its risk, unwind its Hedge
Positions or satisfy its settlement obligations with respect to the Transaction; 

  
 13 

 (c) it shall not take any action to reduce or decrease the number of authorized and unissued
Shares below the sum of (i) the Number of Shares plus (ii) the total number of Shares issuable upon settlement (whether by net share settlement or otherwise) of any other transaction or agreement to which it is a party; 

(d) it will not repurchase any Shares if, immediately following such repurchase, the Number of Shares, when aggregated with the “Number
of Shares” under, and as defined in, the Confirmation, if any, dated as of a date within 30 calendar days of the Trade Date, between Dealer and Counterparty in respect of that certain Additional Issuer Forward Transaction, would be equal to or
greater than 4.5% of the number of then-outstanding Shares and it will notify Dealer immediately upon the announcement or consummation of any repurchase of Shares in an amount that, taken together with the amount of all repurchases since the date of
the last such notice (or, if no such notice has been given, since the Trade Date), exceeds 0.5% of the number of then-outstanding Shares; 

(e) it is not entering into this Confirmation to create actual or apparent trading activity in the Shares (or any security convertible into or
exchangeable for Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for Shares); 

(f) (i) neither it nor any of its officers, directors, managers or similar persons is aware of any material non-public information
regarding itself or the Shares; (ii) it is entering into this Confirmation and will provide any Settlement Notice in good faith and not as part of a plan or scheme to evade compliance with Rule 10b-5 or any other provision of the federal
securities laws; (iii) it has not entered into or altered any hedging transaction relating to the Shares corresponding to or offsetting the Transaction; and (iv) it has consulted with its own advisors as to the legal aspects of its
adoption and implementation of this Confirmation under Rule 10b5-1 under the Exchange Act (“Rule 10b5-1”); 
 (g) it is in
compliance with its reporting obligations under the Exchange Act and its most recent Annual Report on Form 10-K, together with all reports subsequently filed by it pursuant to the Exchange Act, taken together and as amended and supplemented to
the date of this representation, do not, as of their respective filing dates, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading; 
 (h) no state or local (including non-U.S. jurisdictions) law, rule,
regulation or regulatory order applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any person or entity) as a result of
Dealer or its affiliates owning or holding (however defined) Shares; 
 (i) as of the Trade Date and as of the date of any payment or
delivery by Counterparty or Dealer hereunder, it is not and will not be “insolvent” (as such term is defined under Section 101(32) of the Bankruptcy Code); 

(j) it is not, and after giving effect to the transactions contemplated hereby will not be, required to register as an “investment
company” as such term is defined in the Investment Company Act of 1940, as amended; 
 (k) it: (i) is an “institutional
account” as defined in FINRA Rule 4512(c); and (ii) is capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities, and will
exercise independent judgment in evaluating any recommendations of Dealer or its associated persons; 
 (l) it understands, agrees and
acknowledges that no obligations of Dealer to it hereunder shall be entitled to the benefit of deposit insurance and that such obligations shall not be guaranteed by any affiliate of Dealer or any governmental agency; and 

(m) IT UNDERSTANDS THAT THE TRANSACTION IS SUBJECT TO COMPLEX RISKS WHICH MAY ARISE WITHOUT WARNING AND MAY AT TIMES BE VOLATILE AND THAT
LOSSES MAY OCCUR QUICKLY AND IN UNANTICIPATED MAGNITUDE AND IS WILLING TO ACCEPT SUCH TERMS AND CONDITIONS AND ASSUME (FINANCIALLY AND OTHERWISE) SUCH RISKS. 

  
 14 

 6. Additional Covenants of Counterparty. 

(a) Counterparty acknowledges and agrees that any Shares delivered by Counterparty to Dealer on any Settlement Date or Net Share Settlement
Date will be (i) newly issued, (ii) approved for listing or quotation on the Exchange, subject to official notice of issuance, and (iii) registered under the Exchange Act, and, when delivered by Dealer (or an affiliate of Dealer) to
securities lenders from whom Dealer (or an affiliate of Dealer) borrowed Shares in connection with hedging its exposure to the Transaction, will be freely saleable without further registration or other restrictions under the Securities Act in the
hands of those securities lenders, irrespective of whether any such stock loan is effected by Dealer or an affiliate of Dealer Accordingly, Counterparty agrees that any Shares so delivered will not bear a restrictive legend and will be deposited in,
and the delivery thereof shall be effected through the facilities of, the Clearance System. In addition, Counterparty represents and agrees that any such Shares shall be, upon such delivery, duly and validly authorized, issued and outstanding, fully
paid and nonassessable, free of any lien, charge, claim or other encumbrance. 
 (b) Counterparty agrees that Counterparty shall not enter
into or alter any transaction with respect to the Shares that would be deemed, in the commercially reasonable discretion of Calculation Agent, to hedge or offset Counterparty’s rights or obligations under the Transaction. Without limiting the
generality of the provisions set forth opposite the caption “Unwind Activities” in Section 2 of this Confirmation, Counterparty acknowledges that it has no right to, and agrees that it will not seek to, control or influence
Dealer’s decision to make any “purchases or sales” (within the meaning of Rule 10b5-1(c)(1)(i)(B)(3)) under or in connection with the Transaction, including, without limitation, Dealer’s decision to enter into any hedging
transactions. 
 (c) Counterparty acknowledges and agrees that any amendment, modification, waiver or termination of this Confirmation must
be effected in accordance with the requirements for the amendment or termination of a “plan” as defined in Rule 10b5-1(c). Without limiting the generality of the foregoing, any such amendment, modification, waiver or termination shall be
made in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b-5, and no such amendment, modification or waiver shall be made at any time at which Counterparty or any officer, director, manager or similar person of
Counterparty is aware of any material non-public information regarding Counterparty or the Shares. 
 (d) Counterparty shall promptly
provide notice thereof to Dealer (in which notice Counterparty will be deemed to make the representation and warranty set forth in Section 5(f)(i) as of the date of such notice) (i) upon the occurrence of any event that would, with the
giving of notice, the passage of time or the satisfaction of any condition, constitute an Event of Default, a Potential Event of Default or a Termination Event in respect of which Counterparty is a Defaulting Party or an Affected Party, as the case
may be, and (ii) upon announcement of any event that, if consummated, would constitute an Extraordinary Event or Potential Adjustment Event. 

(e) Neither Counterparty nor any of its “affiliated purchasers” (as defined by Rule 10b-18 under the Exchange Act
(“Rule 10b-18”)) shall take any action that would cause any purchases of Shares by Dealer or any of its Affiliates in connection with any Cash Settlement or Net Share Settlement not to meet the requirements of the safe harbor
provided by Rule 10b-18 if such purchases were made by Counterparty. Without limiting the generality of the foregoing, during any Unwind Period, except with the prior written consent of Dealer, Counterparty will not, and will cause its affiliated
purchasers (as defined in Rule 10b-18) not to, directly or indirectly (including, without limitation, by means of a derivative instrument) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or announce or
commence any tender offer relating to, any Shares (or equivalent interest, including a unit of beneficial interest in a trust or limited partnership or a depository share) or any security convertible into or exchangeable for the Shares (it being
understood that the Other Confirmation (as defined below) will be deemed to not give rise to any such transaction to the extent that no exchange business day (however defined) under the Other Confirmation would occur on a Relevant Day under this
Confirmation). 
 (f) Counterparty will not be subject to any “restricted period” (as such term is defined in Regulation M
promulgated under the Exchange Act (“Regulation M”)) in respect of Shares or any security with respect to which the Shares are a “reference security” (as such term is defined in Regulation M) during any Unwind Period. 

  
 15 

 (g) Counterparty shall: (i) prior to the opening of trading in the Shares on any day on
which Counterparty makes, or expects to be made, any public announcement (as defined in Rule 165(f) under the Securities Act) of any Merger Transaction, to the extent permitted by applicable law, notify Dealer of such public announcement;
(ii) promptly notify Dealer following any such announcement that such announcement has been made; (iii) promptly (but in any event prior to the next opening of the regular trading session on the Exchange) provide Dealer with written notice
specifying (A) Counterparty’s average daily Rule 10b-18 Purchases (as defined in Rule 10b-18) during the three full calendar months immediately preceding the announcement date for the Merger Transaction that were not effected through
Dealer or its affiliates and (B) the number of Shares purchased pursuant to the proviso in Rule 10b-18(b)(4) under the Exchange Act for the three full calendar months preceding such announcement date. Such written notice shall be deemed to be a
certification by Counterparty to Dealer that such information is true and correct. In addition, Counterparty shall promptly notify Dealer of the earlier to occur of the completion of such transaction and the completion of the vote by target
shareholders. Counterparty acknowledges that any such notice may result in a Regulatory Disruption, a Trading Condition or an Early Valuation or may affect the length of any ongoing Unwind Period; accordingly, Counterparty acknowledges that its
delivery of such notice must comply with the standards set forth in Section 6(c) above. “Merger Transaction” means any merger, acquisition or similar transaction involving a recapitalization as contemplated by Rule
10b-18(a)(13)(iv) under the Exchange Act. 
 (h) Counterparty represents and warrants to, and agrees with, Dealer that Counterparty has not
and will not enter into any structured share purchase or sale transaction (including the purchase or sale of any option or combination of options relating to the Shares), or any other transaction similar to the Transaction described herein
(including, for the avoidance of doubt, the Confirmation of even date herewith entered into between Counterparty and Goldman, Sachs & Co. (the “Other Confirmation”)), where any valuation period (however defined) in such
other transaction will overlap at any time (including as a result of acceleration, postponement or extension in such valuation period as provided in the relevant agreement) with any Unwind Period under this Confirmation (it being understood that
such a valuation period under the Other Confirmation will not overlap with an Unwind Period under this Confirmation if no exchange business day (however defined) under the Other Confirmation would occur on a Relevant Day under this Confirmation). In
the event that the valuation period in any such other transaction overlaps with any Unwind Period under this Confirmation as a result of any acceleration, postponement or extension of such Unwind Period, Counterparty shall promptly amend such
transaction to avoid any such overlap. 
 7. Termination on Bankruptcy. The parties hereto agree that, notwithstanding anything to the contrary in
the Agreement or the Equity Definitions, the Transaction constitutes a contract to issue a security of Counterparty as contemplated by Section 365(c)(2) of the Bankruptcy Code and that the Transaction and the obligations and rights of
Counterparty and Dealer (except for any liability as a result of breach of any of the representations or warranties provided by Counterparty in Section 4 or Section 5 above) shall immediately terminate, without the necessity of any notice,
payment (whether directly, by netting or otherwise) or other action by Counterparty or Dealer, if, on or prior to the final Settlement Date, Cash Settlement Payment Date or Net Share Settlement Date, an Insolvency Filing occurs or any other
proceeding commences with respect to Counterparty under the Bankruptcy Code (a “Bankruptcy Termination Event”). 
 8. Additional
Provisions. (a) Dealer acknowledges and agrees that Counterparty’s obligations under the Transaction are not secured by any collateral and that this Confirmation is not intended to convey to Dealer rights with respect to the
transactions contemplated hereby that are senior to the claims of common stockholders in any U.S. bankruptcy proceedings of Counterparty; provided that nothing herein shall limit or shall be deemed to limit Dealer’s right to pursue
remedies in the event of a breach by Counterparty of its obligations and agreements with respect to this Confirmation or the Agreement; provided further that nothing herein shall limit or shall be deemed to limit Dealer’s rights in
respect of any transaction other than the Transaction. 
 (b) The parties hereto intend for: 

(i) the Transaction to be a “securities contract” as defined in Section 741(7) of the Bankruptcy Code, and the
parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(27), 362(o), 546(e), 546(j), 555 and 561 of the Bankruptcy Code; 

  
 16 

 (ii) the rights given to Dealer pursuant to “Early Valuation” in
Section 2 above to constitute “contractual rights” to cause the liquidation of a “securities contract” and to set off mutual debts and claims in connection with a “securities contract”, as such terms are used in
Sections 555 and 362(b)(6) of the Bankruptcy Code; 
 (iii) any cash, securities or other property provided as performance
assurance, credit support or collateral with respect to the Transaction to constitute “margin payments” and “transfers” under a “securities contract” as defined in the Bankruptcy Code; 

(iv) all payments for, under or in connection with the Transaction, all payments for Shares and the transfer of Shares to
constitute “settlement payments” and “transfers” under a “securities contract” as defined in the Bankruptcy Code; and 

(v) any or all obligations that either party has with respect to this Confirmation or the Agreement to constitute property held
by or due from such party to margin, guaranty or settle obligations of the other party with respect to the transactions under the Agreement (including the Transaction) or any other agreement between such parties. 

(c) Notwithstanding any other provision of the Agreement or this Confirmation, in no event will Counterparty be required to deliver in the
aggregate in respect of all Settlement Dates, Net Share Settlement Dates or other dates on which Shares are delivered in respect of any amount owed under this Agreement a number of Shares greater than 50,000,000 Shares (as adjusted for stock splits
and similar events) (the “Capped Number”). Counterparty represents and warrants to Dealer (which representation and warranty shall be deemed to be repeated on each day that the Transaction is outstanding) that the Capped Number is
equal to or less than the number of authorized but unissued Shares that are not reserved for future issuance in connection with transactions in the Shares (other than the Transaction) on the date of the determination of the Capped Number (such
Shares, the “Available Shares”). In the event Counterparty shall not have delivered the full number of Shares otherwise deliverable as a result of this Section 8(c) (the resulting deficit, the “Deficit
Shares”), Counterparty shall be continually obligated to deliver Shares, from time to time until the full number of Deficit Shares have been delivered pursuant to this paragraph, when, and to the extent that, (A) Shares are
repurchased, acquired or otherwise received by Counterparty or any of its subsidiaries after the Trade Date (whether or not in exchange for cash, fair value or any other consideration), (B) authorized and unissued Shares reserved for issuance
in respect of other transactions prior to such date which prior to the relevant date become no longer so reserved and (C) Counterparty additionally authorizes any unissued Shares that are not reserved for other transactions (such events as set
forth in clauses (A), (B) and (C) above, collectively, the “Share Issuance Events”). Counterparty shall promptly notify Dealer of the occurrence of any of the Share Issuance Events (including the number of Shares subject
to clause (A), (B) or (C) and the corresponding number of Shares to be delivered) and, as promptly as reasonably practicable, deliver such Shares thereafter. Counterparty shall not, until Counterparty’s obligations under the
Transaction have been satisfied in full, use any Shares that become available for potential delivery to Dealer as a result of any Share Issuance Event for the settlement or satisfaction of any transaction or obligation other than the Transaction or
reserve any such Shares for future issuance for any purpose other than to satisfy Counterparty’s obligations to Dealer under the Transaction. 

(d) The parties intend for this Confirmation to constitute a “Contract” as described in the letter dated October 6, 2003
submitted on behalf of Goldman, Sachs & Co. to Paula Dubberly of the staff of the Securities and Exchange Commission (the “Staff”) to which the Staff responded in an interpretive letter dated October 9, 2003. 

(e) The parties intend for this Transaction (taking into account purchases of Shares in connection with any Cash Settlement or Net Share
Settlement) to comply with the requirements of Rule 10b5-1(c)(1)(i)(A) under the Exchange Act and for this Confirmation to constitute a binding contract or instruction satisfying the requirements of 10b5-1(c) and to be interpreted to comply with the
requirements of Rule 10b5-1(c). 
 9. Indemnification. Counterparty agrees to indemnify and hold harmless Dealer, its affiliates and its assignees
and their respective directors, officers, employees, agents and controlling persons (Dealer and each such person being an “Indemnified Party”) from and against any and all losses, claims, damages and liabilities (or actions in
respect thereof), joint or several, incurred by or asserted against such Indemnified Party arising out of, in connection 

  
 17 

 
with, or relating to, the execution or delivery of this Confirmation by Counterparty, the performance by Counterparty of its obligations under the Transaction, or any breach of any covenant or
representation made by Counterparty in this Confirmation or the Agreement (including the effect of any such breach or other act or omission of the Counterparty on any third-party transactions by Dealer with respect to delivery and receipt of the
Shares in connection with establishing, maintaining and unwinding of Dealer’s Hedge Positions in connection with the Transaction). Counterparty will not be liable under the foregoing indemnification provision to the extent that any loss, claim,
damage, liability or expense is found in a nonappealable judgment by a court of competent jurisdiction to have resulted from Dealer’s willful misconduct, gross negligence or bad faith in performing the services that are subject of the
Transaction. If for any reason the foregoing indemnification is unavailable to any Indemnified Party or insufficient to hold harmless any Indemnified Party, then Counterparty shall contribute, to the maximum extent permitted by law, to the amount
paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability. In addition, Counterparty will reimburse any Indemnified Party for all reasonable expenses (including reasonable counsel fees and expenses) as they are
incurred in connection with the investigation of, preparation for or defense or settlement of any pending or threatened claim or any action, suit or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto and whether
or not such claim, action, suit or proceeding is initiated or brought by or on behalf of Counterparty. Counterparty also agrees that no Indemnified Party shall have any liability to Counterparty or any person asserting claims on behalf of or in
right of Counterparty in connection with or as a result of any matter referred to in this Confirmation except to the extent that any losses, claims, damages, liabilities or expenses incurred by Counterparty result from the gross negligence, willful
misconduct or bad faith of the Indemnified Party. The provisions of this Section 9 shall survive the completion of the Transaction contemplated by this Confirmation and any assignment and/or delegation of the Transaction made pursuant to the
Agreement or this Confirmation shall inure to the benefit of any permitted assignee of Dealer 
 10. Beneficial Ownership. Notwithstanding anything
to the contrary in the Agreement or this Confirmation, in no event shall Dealer be entitled to receive, or be deemed to receive, Shares to the extent that, upon such receipt of such Shares, (i) the “beneficial ownership” (within the
meaning of Section 13 of the Exchange Act and the rules promulgated thereunder) of Shares by Dealer, any of its affiliates’ business units subject to aggregation with Dealer for purposes of the “beneficial ownership” test under
Section 13 of the Exchange Act and all persons who may form a “group” (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) with Dealer with respect to “beneficial ownership” of any Shares (collectively,
“Dealer Group”) would be equal to or greater than 4.5% of the outstanding Shares (an “Excess Section 13 Ownership Position”), (ii) Dealer’s ultimate parent entity would purchase, acquire or take (as
such terms are used in the Federal Power Act) at any time on the relevant date in excess of 7.5% of the outstanding Shares (an “Excess FPA Ownership Position”) or (iii) Dealer, Dealer Group or any person whose ownership
position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”) under Subchapters 25E, 25F, 25G or 25H of the Pennsylvania Business Corporation Law or any state or
federal bank holding company or banking laws, or any federal, state or local laws, regulations or regulatory orders or organizational documents or contracts of Counterparty, in each case, applicable to ownership of Shares (“Applicable
Restrictions”), would own, beneficially own, constructively own, control, hold the power to vote or otherwise meet a relevant definition of ownership in excess of a number of Shares equal to (x) the lesser of (A) the maximum
number of Share that would be permitted under Applicable Restrictions and (B) the number of Shares that would give rise to reporting or registration obligations or other requirements (including obtaining prior approval by a state or federal
regulator) of a Dealer Person under Applicable Restrictions and with respect to which such requirements have not been met or the relevant approval has not been received or that would give rise to any consequences under the constitutive documents of
Counterparty or any contract or agreement to which Counterparty is a party, in each case minus (y) 1% of the number of Shares outstanding on the date of determination (such condition described in clause (iii), an “Excess
Regulatory Ownership Position”). If any delivery owed to Dealer hereunder is not made, in whole or in part, as a result of this provision, (i) Counterparty’s obligation to make such delivery shall not be extinguished and
Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Exchange Business Day after, Dealer gives notice to Counterparty that such delivery would not result in (x) Dealer Group directly or
indirectly so beneficially owning in excess of 4.5% of the outstanding Shares and (y) the occurrence of an Excess FPA Ownership Position or an Excess Regulatory Ownership Position and (ii) if such delivery relates to a Physical Settlement,
notwithstanding anything to the contrary herein, Dealer shall not be obligated to satisfy the portion of its payment obligation corresponding to any Shares required to be so delivered until the date Counterparty makes such delivery. 

  
 18 

 11. Non-Confidentiality. The parties hereby agree that (i) effective from the date of commencement of
discussions concerning the Transaction, Counterparty and each of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all
materials of any kind, including opinions or other tax analyses, provided by Dealer and its affiliates to Counterparty relating to such tax treatment and tax structure; provided that the foregoing does not constitute an authorization to
disclose the identity of Dealer or its affiliates, agents or advisers, or, except to the extent relating to such tax structure or tax treatment, any specific pricing terms or commercial or financial information, and (ii) Dealer does not assert
any claim of proprietary ownership in respect of any description contained herein or therein relating to the use of any entities, plans or arrangements to give rise to a particular United States federal income tax treatment for Counterparty. 

12. Restricted Shares. If Counterparty is unable to comply with the covenant of Counterparty contained in Section 6(a) above or Dealer otherwise
determines in its reasonable opinion that any Shares to be delivered to Dealer by Counterparty may not be freely returned by Dealer to securities lenders as described in the covenant of Counterparty contained in Section 6(a) above, then
delivery of any such Settlement Shares (the “Unregistered Settlement Shares”) shall be effected pursuant to Annex A hereto, unless waived by Dealer 

13. Governing Law. Notwithstanding anything to the contrary in the Agreement, the Agreement, this Confirmation and all matters arising in connection
with the Agreement and this Confirmation shall be governed by, and construed and enforced in accordance with, the laws of the State of New York (without reference to its choice of laws doctrine other than Title 14 of Article 5 of the New York
General Obligations Law). 
 14. Set-Off. 

(a) The parties agree that upon the occurrence of an Event of Default or Termination Event with respect to a party who is the Defaulting Party
or the Affected Party (“X”), the other party (“Y”) will have the right (but not be obliged) without prior notice to X or any other person to set-off or apply any obligation of X owed to Y (or any consenting
Affiliate of Y) hereunder against any obligation of Y (or any Affiliate of Y) owed to X (whether or not matured or contingent and whether or not arising under the Agreement, and regardless of the currency, place of payment or booking office of the
obligation). To the extent that any Other Amounts are so set off, those Other Amounts will be discharged promptly and in all respects. Y will give notice to the other party of any set-off effected under this Section 14. 

Amounts (or the relevant portion of such amounts) subject to set-off may be converted by Y into the Termination Currency at the rate of
exchange at which such party would be able, acting in a reasonable manner and in good faith, to purchase the relevant amount of such currency. If any obligation is unascertained, Y may in good faith estimate that obligation and set-off in respect of
the estimate, subject to the relevant party accounting to the other when the obligation is ascertained. Nothing in this Section 14 shall be effective to create a charge or other security interest. This Section 14 shall be without prejudice
and in addition to any right of set-off, combination of accounts, lien or other right to which any party is at any time otherwise entitled (whether by operation of law, contract or otherwise). 

(b) Notwithstanding anything to the contrary in the foregoing, Dealer agrees not to set off or net amounts due from Counterparty with respect
to any Transaction against amounts due from Dealer to Counterparty with respect to contracts or instruments that are not Equity Contracts. “Equity Contract” means any transaction or instrument that does not convey to Dealer rights,
or the ability to assert claims, that are senior to the rights and claims of common stockholders in the event of Counterparty’s bankruptcy. 
 15.
Staggered Settlement. Notwithstanding anything to the contrary herein, Dealer may, by prior notice to Counterparty, satisfy its obligation to deliver any Shares or other securities on any date due (an “Original Delivery
Date”) by making separate deliveries of Shares or such securities, as the case may be, at more than one time on or prior to such Original Delivery Date, so long as the aggregate number of Shares and other securities so delivered on or prior
to such Original Delivery Date is equal to the number required to be delivered on such Original Delivery Date. 

  
 19 

 16. Designation by Dealer. Notwithstanding any other provision in this Confirmation to the contrary
requiring or allowing Dealer to purchase, sell, receive or deliver any Shares or other securities to or from Counterparty, Dealer may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities and otherwise
to perform Dealer’s obligations in respect of the Transaction and any such designee may assume such obligations. Dealer shall be discharged of its obligations to Counterparty solely to the extent of any such performance. 

17. Waiver of Right to Trial by Jury: EACH OF COUNTERPARTY AND DEALER HEREBY IRREVOCABLY WAIVES (ON SUCH PARTY’S OWN BEHALF AND, TO THE EXTENT
PERMITTED BY APPLICABLE LAW, ON BEHALF OF SUCH PARTY’S STOCKHOLDERS) ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS CONFIRMATION OR THE
ACTIONS OF COUNTERPARTY, DEALER OR THEIR AFFILIATES IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF. 
 18. Jurisdiction: THE PARTIES HERETO
IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES COURT FOR THE SOUTHERN DISTRICT OF NEW YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO AND WAIVE ANY OBJECTION TO THE LAYING OF VENUE
IN, AND ANY CLAIM OF INCONVENIENT FORUM WITH RESPECT TO, THESE COURTS. 
 19. Counterparts. This Confirmation may be executed in any number of
counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Confirmation by signing and delivering one or more counterparts. 

20. Foreign Account Tax Compliance Act and HIRE Act. “Indemnifiable Tax” as defined in Section 14 of the Agreement shall not include
(i) any tax imposed on payments treated as dividends from sources within the United States under Section 871(m) of the Code or any regulations issued thereunder (a “Section 871(m) Tax”) or (ii) any U.S. federal
withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or
regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (a “FATCA Withholding Tax”). For the avoidance of doubt,
a Section 871(m) Tax or FATCA Withholding Tax is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Agreement. Counterparty shall promptly upon request by Dealer, provide tax
forms and documents required to be delivered pursuant to Section 1471(b) or Section 1472(b)(1) of the Code and any other forms and documents reasonably requested by Dealer. 

21. Tax Forms. Counterparty shall deliver an original valid United States Internal Revenue Service Form W-9 (a “Form W-9”) to Dealer,
and if such form or the information therein becomes obsolete, outdated or incorrect, Counterparty shall promptly deliver to Dealer a duly executed Form W-9 (or any successor thereto) that is valid. 

22. 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol. The parties agree that the terms of the 2013 EMIR Portfolio
Reconciliation, Dispute Resolution and Disclosure Protocol published by ISDA on July 19, 2013 (“Protocol”) apply to the Agreement as if the parties had adhered to the Protocol without amendment. In respect of the Attachment to
the Protocol, (i) the definition of “Adherence Letter” shall be deemed to be deleted and references to “Adherence Letter” shall be deemed to be to this Section 22 (and references to “such party’s Adherence
Letter” and “its Adherence Letter” shall be read accordingly), (ii) references to “adheres to the Protocol” shall be deemed to be “enters into this Agreement”, (iii) references to “Protocol Covered
Agreement” shall be deemed to be references to this Agreement (and each “Protocol Covered Agreement” shall be read accordingly), and (iv) references to “Implementation Date” shall be deemed to be references to the date
of this Agreement. For the purposes of this Section 22: 
 (a) Dealer is a Portfolio Data Sending Entity and Counterparty is a
Portfolio Data Receiving Entity; 

  
 20 

 (b) Dealer and Counterparty may use a Third Party Service Provider, and each of Dealer and
Counterparty consents to such use including the communication of the relevant data in relation to Dealer and Counterparty to such Third Party Service Provider for the purposes of the reconciliation services provided by such entity. 

(c) The Local Business Days for such purposes in relation to Dealer and Counterparty is New York, New York, USA. 

(d) The following are the applicable email addresses. 
  

			
	Portfolio Data:	  	Dealer: MarginServicesPortRec@barclays.com
		
		  	Counterparty: stacie.frank@exeloncorp.com;
		  	 darryl.bradford@exeloncorp.com

		
	Notice of discrepancy:	  	Dealer: PortRecDiscrepancy@barclays.com
		  	and paul.robinson1@barclayscapital.com
		
		  	Counterparty: stacie.frank@exeloncorp.com;
		  	 darryl.bradford@exeloncorp.com

		
	Dispute Notice:	  	Dealer: EMIRdisputenotices@barclays.com
		  	and paul.robinson1@barclayscapital.com
		
		  	Counterparty: stacie.frank@exeloncorp.com;
		  	 darryl.bradford@exeloncorp.com

 23. NFC Representation Protocol. The parties agree that the provisions set out in the Attachment to the ISDA 2013 EMIR
NFC Representation Protocol published by ISDA on March 8, 2013 (the “NFC Representation Protocol”) shall apply to the Agreement as if each party were an Adhering Party under the terms of the NFC Representation Protocol. In
respect of the Attachment to the Protocol, (i) the definition of “Adherence Letter” shall be deemed to be deleted and references to “Adherence Letter” shall be deemed to be to this Section 23 (and references to
“the relevant Adherence Letter” and “its Adherence Letter” shall be read accordingly), (ii) references to “adheres to the Protocol” shall be deemed to be “enters into this Agreement”,
(iii) references to “Covered Master Agreement” shall be deemed to be references to this Agreement (and each “Covered Master Agreement” shall be read accordingly), and (iv) references to “Implementation Date”
shall be deemed to be references to the date of this Agreement. Counterparty confirms that it enters into this Agreement as a party making the NFC Representation (as such term is defined in the NFC Representation Protocol). Counterparty shall
promptly notify Dealer of any change to its status as a party making the NFC Representation. 

  
 21 

 Counterparty hereby agrees (a) to check this Confirmation carefully and immediately upon
receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing (in the exact form provided by Dealer) correctly sets forth the terms of the agreement between Dealer and Counterparty with
respect to the Transaction, by manually signing this Confirmation or this page hereof as evidence of agreement to such terms and providing the other information requested herein and immediately returning an executed copy to Dealer. 

 

					
	Yours faithfully,
	
	BARCLAYS CAPITAL INC., ACTING AS AGENT FOR BARCLAYS BANK PLC
		
	By:	 	/s/ Ross Boudiab
		 	  

		 	Name:	 	ROSS BOUDIAB
		 	Title:	 	AVP

  

					
	Agreed and accepted by:
	
	EXELON CORPORATION
		
	By:	 	/s/ Stacie M. Frank
		 	  

		 	Name:	 	Stacie M Frank
		 	Title:	 	SVP, Treasurer

  
 [Signature Page to Issuer
Forward Transaction] 

 ANNEX A 

PRIVATE PLACEMENT PROCEDURES 
 If
Counterparty delivers Unregistered Settlement Shares pursuant to Section 12 above (a “Private Placement Settlement”), then: 

(a) all Unregistered Settlement Shares shall be delivered to Dealer (or any affiliate of Dealer designated by Dealer) pursuant
to the exemption from the registration requirements of the Securities Act provided by Section 4(2) thereof; 
 (b) as of
or prior to the date of delivery, Dealer and any potential purchaser of any such shares from Dealer (or any affiliate of Dealer designated by Dealer) identified by Dealer shall be afforded a commercially reasonable opportunity to conduct a due
diligence investigation with respect to Counterparty customary in scope for private placements of equity securities (including, without limitation, the right to have made available to them for inspection all financial and other records, pertinent
corporate documents and other information reasonably requested by them); 
 (c) as of the date of delivery, Counterparty
shall enter into an agreement (a “Private Placement Agreement”) with Dealer. (or any affiliate of Dealer designated by Dealer) in connection with the private placement of such shares by Counterparty to Dealer (or any such affiliate)
and the private resale of such shares by Dealer (or any such affiliate), substantially similar to private placement purchase agreements customary for private placements of equity securities, in form and substance commercially reasonably satisfactory
to Dealer, which Private Placement Agreement shall include, without limitation, provisions substantially similar to those contained in such private placement purchase agreements relating, without limitation, to the indemnification of, and
contribution in connection with the liability of, Dealer and its affiliates and the provision of customary opinions, accountants’ comfort letters and lawyers’ negative assurance letters, and shall provide for the payment by Counterparty of
all fees and expenses in connection with such resale, including all fees and expenses of counsel for Dealer, and shall contain representations, warranties, covenants and agreements of Counterparty reasonably necessary or advisable to establish and
maintain the availability of an exemption from the registration requirements of the Securities Act for such resales; and 

(d) in connection with the private placement of such shares by Counterparty to Dealer (or any such affiliate) and the private
resale of such shares by Dealer (or any such affiliate), Counterparty shall, if so requested by Dealer, prepare, in cooperation with Dealer, a private placement memorandum in form and substance reasonably satisfactory to Dealer. 

In the case of a Private Placement Settlement, Dealer shall, in its good faith discretion, adjust the amount of Unregistered Settlement Shares
to be delivered to Dealer hereunder in a commercially reasonable manner to reflect the fact that such Unregistered Settlement Shares may not be freely returned to securities lenders by Dealer and may only be saleable by Dealer at a discount to
reflect the lack of liquidity in Unregistered Settlement Shares. 
 If Counterparty delivers any Unregistered Settlement Shares in respect
of the Transaction, Counterparty agrees that (i) such Shares may be transferred by and among Dealer and its affiliates and (ii) after the minimum “holding period” within the meaning of Rule 144(d) under the Securities Act has
elapsed after the applicable Settlement Date, Counterparty shall promptly remove, or cause the transfer agent for the Shares to remove, any legends referring to any transfer restrictions from such Shares upon delivery by Dealer (or such affiliate of
Dealer) to Counterparty or such transfer agent of seller’s and broker’s representation letters customarily delivered by Dealer or its affiliates in connection with resales of restricted securities pursuant to Rule 144 under the Securities
Act, each without any further requirement for the delivery of any certificate, consent, agreement, opinion of counsel, notice or any other document, any transfer tax stamps or payment of any other amount or any other action by Dealer (or such
affiliate of Dealer). 

 ANNEX B 

FORWARD PRICE REDUCTION AMOUNTS 
  

					
	 Forward Price Reduction Date:
	  	Forward
Price
Reduction
Amount:	 
		
	 August 13, 2014
	  	USD	0.31	  
		
	 November 12, 2014
	  	USD	0.31	  
		
	 February 11, 2015
	  	USD	0.31	  
		
	 May 13, 2015
	  	USD	0.31	  
		
	 August 12, 2015
	  	USD	0.31	  

 ANNEX C 

RELEVANT DAYS 
  

					
	  1	  	9-Jul-15	  	
			
	  2	  	13-Jul-15	  	
			
	  3	  	15-Jul-15	  	
			
	  4	  	17-Jul-15	  	
			
	  5	  	21-Jul-15	  	
			
	  6	  	23-Jul-15	  	
			
	  7	  	27-Jul-15	  	
			
	  8	  	29-Jul-15	  	
			
	  9	  	31-Jul-15	  	
			
	10	  	4-Aug-15	  	
			
	11	  	6-Aug-15	  	
			
	12	  	10-Aug-15	  	
			
	13	  	12-Aug-15	  	
			
	14	  	14-Aug-15	  	
			
	15	  	18-Aug-15	  	
			
	16	  	20-Aug-15	  	
			
	17	  	24-Aug-15	  	
			
	18	  	26-Aug-15	  	
			
	19	  	28-Aug-15	  	
			
	20	  	1-Sep-15	  	
			
	21	  	3-Sep-15	  	
			
	22	  	8-Sep-15	  	
			
	23	  	10-Sep-15	  	
			
	24	  	14-Sep-15	  	
			
	25	  	16-Sep-15	  	
			
	26	  	18-Sep-15	  	

					
			
	27	  	22-Sep-15	  	
			
	28	  	24-Sep-15	  	
			
	29	  	28-Sep-15	  	
			
	30	  	30-Sep-15	  	
			
	31	  	2-Oct-15	  	
			
	32	  	6-Oct-15	  	
			
	33	  	8-Oct-15	  	
			
	34	  	12-Oct-15	  	
			
	35	  	14-Oct-15	  	
			
	36	  	16-Oct-15	  	
			
	37	  	20-Oct-15	  	
			
	38	  	22-Oct-15	  	
			
	39	  	26-Oct-15	  	
			
	40	  	28-Oct-15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00232-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00232-of-00352.parquet"}]]