HYPO TIROL BANK AG

appointment or change shall only take effect (other than in the case of insolvency, when it shall be ofimmediate effect) after not less than 30 nor more than 45 days' prior written notice thereof shall have beengiven to the Holder in accordance with § 10.(3) Agents of the Issuer. The Fiscal Agent [,] [and] the Registrar [,] [and] [the Calculation Agent] act solelyas agents of the Issuer and do not assume any obligations towards or relationship of agency or trust for theHolder.][§ 9 (FURTHER ISSUES, PURCHASES AND CANCELLATION) to be replaced in its entirety by thefollowing:§ 9REPLACEMENT OF NOTESIf any Note is lost, stolen, mutilated, defaced or destroyed, it may be replaced at the specified office of theRegistrar upon payment by the applicant of such costs and expenses as may be incurred in connectiontherewith and on such terms as to evidence and indemnity as the Issuer may reasonably require. Amutilated or defaced Note must be surrendered before a replacement will be issued.][§ 10 (NOTICES) to be replaced in its entirety by the following:§ 10NOTICESNotices to the Holder may be given, and are valid if given, by post or fax at the address or fax number of theHolder appearing in the Register.The Issuer may, in addition publish all notices concerning the Notes on its internet website(www.hypotirol.com).][In § 11 (APPLICABLE LAW, PLACE OF JURISDICTION AND ENFORCEMENT): "ANDENFORCEMENT" to be deleted in the heading and the provisions of subparagraph (3) –Enforcement – to be deleted.]102