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(2)
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as determined by the Independent Investment Banker, the sum of the present values of the Remaining Scheduled
Payments (not including any portion of payments of interest accrued as of the redemption date).
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In determining the present values of
the Remaining Scheduled Payments, Motorola Solutions will discount such payments to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using a discount rate equal to the sum of the applicable
Treasury Rate, plus 35 basis points.
On or after February 23, 2029 (three months prior to the stated maturity of the notes), Motorola
Solutions may redeem the notes at its option, either in whole or in part, at a redemption price equal to 100%, plus, in each case, accrued and unpaid interest thereon to, but not including, the redemption date.
The following terms are relevant to the determination of the redemption prices:
Comparable Treasury Issue
means the United States Treasury security selected by the Independent Investment Banker as having an actual or
interpolated maturity comparable to the remaining term of the notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to
the remaining term of the notes called for redemption.
Comparable Treasury Price
means, with respect to any redemption date,
(1) the arithmetic average of the Reference Treasury Dealer Quotations for such redemption date, or (2) if only one Reference Treasury Dealer Quotation is obtained, such Quotation.
Independent Investment Banker
means one of the Reference Treasury Dealers, or their respective successors, as may be appointed from time to
time by Motorola Solutions; provided, however, that if the foregoing ceases to be a primary U.S. Government securities dealer in New York City (a primary treasury dealer), Motorola Solutions will substitute another nationally recognized
investment banking firm that is a primary treasury dealer.
Reference Treasury Dealer
means BofA Securities, Inc. and J.P. Morgan
Securities LLC, and each of their respective successors. If any of the foregoing ceases to be a primary treasury dealer, Motorola Solutions will substitute another nationally recognized investment banking firm that is a primary treasury dealer.
Reference Treasury Dealer Quotations
means, with respect to each Reference Treasury Dealer and any redemption date, the arithmetic average,
as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such
Reference Treasury Dealer as of 5:00 p.m., New York City time, on the third business day preceding such redemption date.
Remaining Scheduled
Payments
means, with respect to any note to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related redemption date but for such redemption (assuming the note matures
on the par call date); provided, however, that, if such redemption date is not an interest payment date with respect to such note, the amount of the next scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to
such redemption date.
Treasury Rate
means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent
yield to maturity (computed as of the third business day immediately preceding that redemption date) of the Comparable Treasury Issue. In determining this rate, Motorola Solutions will assume a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.
A partial redemption of the notes will be effected
in accordance with applicable DTC procedures.
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