Common use of Physical Delivery of Notes Clause in Contracts

Physical Delivery of Notes. All securities should be registered to Hare & Co., LLC and sent via overnight mail to: Bank of New York Depository ineligible and physical issues: The Bank of New York One Wall Street – 3rd Floor/Window A ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ For account: U.S. Bank N.A. #117612 ▇▇▇▇▇▇ ▇▇▇▇, Counsel Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Telephone: ▇▇▇-▇▇▇-▇▇▇▇ Facsimile: ▇▇▇-▇▇▇-▇▇▇▇ E-mail: ▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Name of Nominee in which Notes are to be issued: Hare & Co., LLC Taxpayer I.D. Number: ▇▇-▇▇▇▇▇▇▇ STEPAN COMPANY NOTE PURCHASE AGREEMENT NAME OF AND ADDRESS OF PURCHASER PRINCIPAL AMOUNT OF NOTES TO BE PURCHASED C.M. LIFE INSURANCE COMPANY c/o Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ – Suite 2200 ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Attn: Securities Investment Division $1,300,000 All payments on account of the Note shall be made by crediting in the form of bank wire transfer of Federal or other immediately available funds, (identifying each payment as “Stepan Company 3.95% Senior Notes, due July 10, 2027, PPN 858586 J*2” interest and principal), to: ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ Bank New York, NY ABA # ▇▇▇▇▇▇▇▇▇ Account Name: CM Life Insurance Company Account Number: 771061371 RE: Description of security, cusip, principal and interest split With advice of payment to the Treasury Operations Liquidity Management Department at Massachusetts Mutual Life Insurance Company at ▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇ or (▇▇▇) ▇▇▇-▇▇▇▇ (facsimile). Send Communications and Notices to C.M. Life Insurance Company c/o Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ – Suite 2200 ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Electronic Delivery of Financials and other information to: C.M. Life Insurance Company c/o Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ – Suite 2200 ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Send Notices on Payments to C.M. Life Insurance Company Treasury Operations Liquidity Management ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ With a copy to: C.M. Life Insurance Company c/o Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ – Suite 2200 ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ STEPAN COMPANY NOTE PURCHASE AGREEMENT

Physical Delivery of Notes. All securities should be registered to Hare & Co., LLC Massachusetts Mutual Life Insurance Company and sent via overnight mail to: Bank of New York Depository ineligible and physical issues: The Bank of New York One Wall Street – 3rd Floor/Window A ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ For account: U.S. Bank N.A. #117612 ▇▇▇▇▇▇ ▇▇▇▇, Counsel Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Telephone: ▇▇▇-▇▇▇-▇▇▇▇ Facsimile: ▇▇▇-▇▇▇-▇▇▇▇ E-mail: ▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Name of Nominee in which Notes are to be issued: Hare & Co., LLC None Taxpayer I.D. Number: ▇▇-▇▇▇▇▇▇▇ STEPAN COMPANY NOTE PURCHASE AGREEMENT NAME OF AND ADDRESS OF PURCHASER PRINCIPAL AMOUNT OF NOTES TO BE PURCHASED C.M. BANNER LIFE INSURANCE COMPANY c/o Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ – Suite 2200 ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Attn: Securities Investment Division $1,300,000 5,000,000 All payments on account of the Note shall be made by crediting in the form of bank wire transfer of Federal or other immediately available funds, (identifying each payment as “Stepan Company 3.95% Senior Notes, due July 10, 2027, PPN 858586 J*2” interest and principal), to: ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ BANNER LIFE INSURANCE COMPANY The Bank of New York/Mellon New York, NY New York ABA # ▇▇▇▇▇▇▇▇▇ Account Acct Name: CM Banner Life Insurance Company Account NumberAcct # GLA 111566 Attention: 771061371 P&I Department RE: Description of security, cusip, principal and interest split With advice of payment to the Treasury Operations Liquidity Management Department at Massachusetts Mutual Life Insurance Company at ▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇ or (▇▇▇) ▇▇▇-▇▇▇▇ (facsimile). Send Communications and Notices to C.M. Notices, including notices on payments, to: Banner Life Insurance Company c/o Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ – Suite 2200 ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Electronic Delivery of Financials and other information to: C.M. Banner Life Insurance Company c/o Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ – Suite 2200 ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Send Notices on Payments to C.M. Life Insurance Company Treasury Operations Liquidity Management ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ With notification to: 1. ▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ With a copy to: C.M. Life Insurance Company c/o Babson Capital Management LLC ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ – Suite 2200 ▇▇ ▇▇▇ ▇▇▇▇▇ @▇▇▇▇▇▇▇▇▇▇▇, ▇▇.▇▇▇ 2. ▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ STEPAN COMPANY NOTE PURCHASE AGREEMENT