(published March 2, 2011 for 2003 Definitions and September 15, 2014 for 2014 Definitions)

These Additional Provisions are designed to be used with the Credit Derivatives Physical Settlement Matrix and Confirmation to document Recovery Lock Credit Derivative Transactions. Recovery lock transactions generally permit the counterparties to address the uncertainty of the recovery upon the default of the Reference Entity by locking in a recovery rate. These Additional Provisions replace the template Confirmation for a Recovery Lock Credit Derivative Transaction published on May 1, 2006. The Recovery Lock provisions in the template Confirmation to provide for a Fixed Settlement that applies where there are no Deliverable Obligations following a Credit Event.