REGISTRATION RIGHTS AGREEMENTRegistration Rights Agreement • August 8th, 2003 • SLM Corp • Personal credit institutions • New York
THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of May 20, 2003 by and among SLM Corporation, a Delaware corporation (“the Company”), and J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. Incorporated (collectively, the “Initial Purchasers”) pursuant to the Purchase Agreement, dated May 14, 2003 (the “Purchase Agreement”), among the Company and the Initial Purchasers. In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Company has agreed to provide the registration rights set forth in this Agreement. The execution of this Agreement is a condition to the closing under the Purchase Agreement.
