To:_________________________________

From:_________________________________

Date:_________________________________

Subject:       Securities Sale Transaction

(Reference Number:_________________________________)

Dear Sirs,

The purpose of this letter, a “Confirmation" for the purposes of the Agreement, is to set forth the terms and conditions of the above repurchase transaction entered into between us on the Contract Date referred to below.

This Confirmation supplements and forms part of, and is subject to, the Master Agreement for the Sale and Purchase of Securities as entered into between us as of_________________________________ as the same may be amended from time to time (the “Agreement”). All provisions contained in the Agreement govern this Confirmation except as expressly modified below. Words and phrases defined in the Agreement and used in this Confirmation shall have the same meaning herein as in the Agreement.

In accordance with paragraph 4 (Undertakings) of the Agreement, in respect of the Transaction documented by this Confirmation and subject to paragraph 12 (Events of Default) of the Agreement:

(i) Seller unilaterally hereby irrevocably and unconditionally undertakes to Buyer that if:

(A) the Seller Exercise Condition with respect to an Exercise Date is satisfied; and

(B) Buyer delivers to Seller an Exercise Notice on, and with respect to, that Exercise Date,

Seller will purchase from Buyer for delivery on the Second Purchase Date the Second Purchased Securities for an amount equal to the Second Purchase Price; and

(ii) Buyer unilaterally hereby irrevocably and unconditionally undertakes to Seller that if:

(A) the Buyer Exercise Condition with respect to an Exercise Date is satisfied; and

(B) Seller delivers to Buyer an Exercise Notice on, and with respect to, that Exercise Date,

Buyer will sell to Seller for delivery on the Second Purchase Date the Second Purchased Securities for an amount equal to the Second Purchase Price.

1. Contract Date:
2. Purchased Securities [state type[s] and nominal value[s]]:

_____________________________________________________________________________________________________

3. CUSIP, ISIN or other identifying numbers]:_________________________________________
4. Buyer:_______________________________________________________________________________
5. Seller:_______________________________________________________________________________
6. First Purchase Date:_________________________________________________________________
7. First Purchase Price:_________________________________________________________________
8. Contractual Currency:_______________________________________________________________
9. Exercise Date:______________________________________________________________________
10. Second Purchase Date:_____________________________________________________________
11. Pricing Rate:_________________________________________________________________________
12. Buyer's Bank Account[s] Details:
13. Seller's Bank Account[s] Details:
14. [   Additional Terms]:*

Yours faithfully,

[SIGNATURE BLOCK FOR PARTY SENDING CONFIRMATION]

Acknowledged and agreed:

(SIGNATURE BLOCK FOR PARTY RECEIVING CONFIRMATION]