only reference obfigation. During the life of the option. Company XYZ redeems the 8% May 15, 2022 bond issue and there are no other obligations of Company XYZ 117 CONFIDENTIAL - PURSUANT TOCRESCIR11OB;087878 P. 6(e) CONFIDENTIAL SDNY_GM_00184062 EFTA01353487

ing the succession event, the credit default option based on Company XYZ Is adjusted Into two separate credit default option contracts that specify Company XYZ and Company LMN as reference entities. The cash settlement amount of the original credit default option and the premium multiplier are allocated b

and LMN are identified by the listing options market as the successor entities. Following the succession event. the credit default option based on Company XYZ Is adjusted into two separate credit default option contracts that specify Company XYZ and Company LMN as reference entities. The cash settlement

ce entity for a credit default option contract and its 8% May 15. 2022 bond issue is the only reference obligation. During the life of the option, Company XYZ redeems the 8% May 15. 2022 bond issue and there are no other obligations of Company XYZ that the listing options market deems to be suitable for

e entity for a credit default option contract, and its 8% May t5, 2022 bond issue is the only reference obligation. During the life of the option, Company XYZ spins off Company LMN. Company XYZ remains the obligor with respect to 70% of the principal amount of the original reference obligation. Company LM

only reference obfigation. During the life of the option. Company XYZ redeems the 8% May 15, 2022 bond issue and there are no other obligations of Company XYZ 117 CONFIDENTIAL - PURSUANT TOCRESCIR11OB1198602 P. 6(e) CONFIDENTIAL SDNY_GM_00244786 EFTA01393162

ce entity for a credit default option contract and its 8% May 15. 2022 bond issue is the only reference obligation. During the life of the option, Company XYZ redeems the 8% May 15. 2022 bond issue and there are no other obligations of Company XYZ that the listing options market deems to be suitable for

e entity for a credit default option contract, and its 8% May t5, 2022 bond issue is the only reference obligation. During the life of the option, Company XYZ spins off Company LMN. Company XYZ remains the obligor with respect to 70% of the principal amount of the original reference obligation. Company LM

and LMN are identified by the listing options market as the successor entities. Following the succession event. the credit default option based on Company XYZ Is adjusted into two separate credit default option contracts that specify Company XYZ and Company LMN as reference entities. The cash settlement