Exhibit 4.2


 


Execution Version


 


HILLENBRAND, INC.,


 


AS ISSUER,


 


THE GUARANTORS (AS DEFINED HEREIN)


 


and


 


U.S. BANK NATIONAL ASSOCIATION,


 


AS TRUSTEE


 







 



 


SUPPLEMENTAL INDENTURE No. 7


 


Dated as of March 3, 2021


 


to


 


INDENTURE


 


Dated as of July 9, 2010


 


among


 


HILLENBRAND, INC.,


 


AS ISSUER


 


and


 


U.S. BANK NATIONAL ASSOCIATION,


 


AS TRUSTEE


 







 



 


$350,000,000


 


3.7500% Senior Notes due 2031


 






     


     


    

 


TABLE
OF CONTENTS


 


	 	Page
	 	 
	ARTICLE I
    DEFINITIONS AND INCORPORATION BY REFERENCE	1
	 	 
	SECTION 1.1
    Definitions	1
	SECTION 1.2
    Incorporation by Reference of TIA	6
	SECTION 1.3
    Rules of Construction	6
	 	 
	ARTICLE II
    THE NOTES	6
	 	 
	SECTION 2.1
    Creation of Series of Securities	6
	SECTION 2.2
    Terms of the Notes	7
	SECTION 2.3
    Transfer and Exchange	8
	SECTION 2.4
    Application of Supplemental Indenture	8
	SECTION 2.5
    Effect of Supplemental Indenture	8
	 	 
	ARTICLE III
    REDEMPTION AND REPURCHASE AT THE OPTION OF HOLDERS	8
	 	 
	SECTION 3.1
    Optional Redemption	8
	SECTION 3.2
    Repurchase at the Option of Holders—Change of Control Triggering Event	10
	 	 
	ARTICLE IV
    COVENANTS	11
	 	 
	SECTION 4.1
    Limitation on Secured Debt	11
	SECTION 4.2
    Limitation on Sale and Leaseback Transactions	11
	SECTION 4.3
    Reports	12
	SECTION 4.4
    Additional Subsidiary Guarantees	12
	 	 
	ARTICLE V
    DEFAULTS AND REMEDIES	12
	 	 
	SECTION 5.1
    Events of Default	12
	SECTION 5.2
    Remedies	13
	 	 
	ARTICLE VI
    SUPPLEMENTAL INDENTURES	14
	 	 
	SECTION 6.1
    Without Consent of Holders	14
	 	 
	ARTICLE VII
    SATISFACTION AND DISCHARGE	15
	 	 
	SECTION 7.1
    Amendment to Base Indenture	15
	 	 
	ARTICLE VIII
    GUARANTEES	15
	 	 
	SECTION 8.1
    Guarantees	15
	SECTION 8.2
    Subrogation	16
	SECTION 8.3
    Release of Guarantees	16
	SECTION 8.4
    Limitation and Effectiveness of Guarantees	16
	SECTION 8.5
    Notation not Required	16


 






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	ARTICLE IX METHODS OF RECEIVING PAYMENTS ON THE NOTES	17
	 	
	SECTION 9.1 Methods of Receiving Payments on the Notes	17
	 	 
	ARTICLE X MISCELLANEOUS	17
	 	 
	SECTION 10.1 Term Defined	17
	SECTION 10.2 Indenture	17
	SECTION 10.3 Governing Law	17
	SECTION 10.4 Successors	17
	SECTION 10.5 Multiple Counterparts	17
	SECTION 10.6 Effectiveness	17
	SECTION 10.7 Trustee Disclaimer	17



 






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SEVENTH SUPPLEMENTAL INDENTURE (this “Supplemental
Indenture”), dated as of March 3, 2021, by and among Hillenbrand, Inc., an Indiana corporation (the “Company”),
the Guarantors (as defined herein) party hereto, and U.S. Bank National Association, as trustee (the “Trustee”),
to the hereafter defined Base Indenture.


 


WHEREAS, the Company and the Trustee executed
and delivered an Indenture, dated as of July 9, 2010 (the “Base Indenture”), a third supplemental indenture,
dated as of September 25, 2019 (the “Third Supplemental Indenture”), a fourth supplemental indenture, dated
as of June 16, 2020 (the “Fourth Supplemental Indenture”), a fifth supplemental indenture, dated as of
December 15, 2020 (the “Fifth Supplemental Indenture”), and a sixth supplemental indenture, dated as of
December 15, 2020 (the “Sixth Supplemental Indenture” and, together with the Base Indenture, the Third
Supplemental Indenture, the Fourth Supplemental Indenture, the Fifth Supplemental Indenture and this Supplemental Indenture, the
 “Indenture”), to provide for the issuance by the Company from time to time of Securities to be issued in one
or more series as provided in the Base Indenture;


 


WHEREAS, Article 9 of the Base Indenture
provides, among other things, that the Company and the Trustee may enter into a supplemental indenture to the Base Indenture for,
among other things, the purpose of establishing the designation, form, terms and conditions of Securities as permitted by Article 9
of the Base Indenture;


 


WHEREAS, on the date hereof the Company
desires to establish a new series of Securities, to be designated as the Company’s 3.7500% Senior Notes due 2031 (the “Notes”)
pursuant to the Indenture, which Notes shall be senior unsecured obligations of the Company in an initial aggregate principal amount
of $350,000,000;


 


WHEREAS, the Company has delivered to the
Trustee an Opinion of Counsel pursuant to Sections 903 of the Base Indenture to the effect that the execution and delivery of this
Supplemental Indenture is authorized or permitted under the Base Indenture and that all conditions precedent provided for in the
Base Indenture to the execution and delivery of this Supplemental Indenture to be complied with by the Company have been complied
with;


 


WHEREAS, the Company has requested that
the Trustee execute and deliver this Supplemental Indenture;


 


WHEREAS, pursuant to Section 901 of
the Base Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture without the consent of any Holders
of the Notes; and


 


WHEREAS, all the conditions and requirements
necessary to make this Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been performed
and fulfilled by the parties hereto and the execution and delivery thereof have been in all respects duly authorized by the parties
hereto.


 


NOW, THEREFORE, in consideration of the
above premises, each party agrees, for the benefit of the others and for the equal and ratable benefit of the Holders of the Notes,
as follows:


 


ARTICLE I


 


DEFINITIONS
AND INCORPORATION BY REFERENCE


 


SECTION 1.1
Definitions. For the purpose of this Supplemental Indenture, all capitalized terms used herein, unless otherwise
defined herein, shall have the meanings assigned to them in the Base Indenture.


 


“Attributable Debt” means,
with regard to a sale and leaseback arrangement of a Principal Property, the present value of the total net amount of rent payments
to be made under the lease during its remaining term (excluding permitted extensions), discounted at the rate of interest set forth
or implicit in the terms of the lease, compounded semi-annually. The calculation of the present value of the total net amount of
rent payments is subject to adjustments to be specified in the indenture.


 


“Change of Control” means
the occurrence of any of the following after the Issue Date of the Notes:


 


(1)   the
direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one
or a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a
whole, to any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange
Act) other than to the Company or one of its Subsidiaries;


 






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(2)   the
consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person”
or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act) becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of the Company’s
Voting Stock representing more than 50% of the voting power of the Company’s outstanding Voting Stock;


 


(3)   the
Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the Company,
in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or Voting Stock of such
other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the Company’s
Voting Stock outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, Voting Stock
representing more than 50% of the voting power of the Voting Stock of the surviving person immediately after giving effect to such
transaction; or


 


(4)   the adoption of a plan relating
to the Company’s liquidation or dissolution.


 


Notwithstanding
clauses (1) through (4) above, the transaction will not be deemed to involve a Change of Control if (a) the Company
becomes a direct or indirect wholly-owned subsidiary of a holding company and (b)(i) the direct or indirect holders of the
Company’s Voting Stock immediately prior to such transaction hold at least a majority of such holding company’s Voting
Stock immediately following such transaction and (ii) immediately following such transaction no “person” or “group”
(as defined in clause (1) above), other than a holding company satisfying the requirements of this sentence, is the beneficial
owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company (measured by voting power rather than
number of shares).


 


Notwithstanding
the foregoing clauses or any provision of the Exchange Act, a “person” or “group” (as defined in clause
(1) above) shall not be deemed to beneficially own Voting Stock subject to a stock or asset purchase agreement, merger agreement,
option agreement, warrant agreement or similar agreement (or voting, support, option or similar agreement related thereto) until
the consummation of the acquisition of the Voting Stock in connection with the transactions contemplated by such agreement.


 


“Change of Control Offer”
has the meaning specified in Section 3.2.


 


“Change of Control Triggering Event”
means the occurrence of a Change of Control and a Ratings Event.


 


“Company” has the meaning
set forth in the preamble hereto until a successor replaces it in accordance with the applicable provisions of the Indenture and,
thereafter, means the successor thereto.


 


“Comparable Treasury Issue”
means the United States Treasury security selected by an Independent Investment Banker as having a maturity date comparable to
the remaining term of the Notes (as measured from the date of redemption and assuming for this purpose that the Notes matured on
March 1, 2026) 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.


 


“Comparable Treasury Price”
means, with respect to any redemption date, (i) the average of the Reference Treasury Dealer Quotations for such redemption
date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Independent Investment
Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all Treasury Dealer Quotations obtained.


 


“Consolidated Net Tangible Assets”
means the aggregate amount of assets (less applicable reserves and other properly deductible items) after deducting therefrom (a) all
current liabilities (excluding any indebtedness for money borrowed having a maturity of less than 12 months from the date of the
Company’s most recent consolidated balance sheet but which by its terms is renewable or extendable beyond 12 months from
such date at the option of the borrower) and (b) all goodwill, trade names, patents, unamortized debt discount and expense
and any other like intangibles, all as set forth on the Company’s most recent consolidated balance sheet and computed in
accordance with generally accepted accounting principles (“GAAP”).


 






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“Credit Agreement” means
the Credit Agreement, dated as of August 28, 2019, by and among the Company and certain of its affiliates, the lenders party
thereto and JPMorgan Chase Bank, N.A., as administrative agent, as amended, amended and restated, refinanced or replaced from time
to time.


 


“Equity Offering” means
any public sale or private issuance by the Company of its common stock, or options, warrants or rights with respect to its common
stock, other than (i) public offerings with respect to the Company’s common stock, or options, warrants or rights, registered
pursuant to a registration statement on Form S-8 and (ii) any issuance by the Company of its common stock to any Subsidiary.


 


“Exchange Act” means
the U.S. Securities Exchange Act of 1934, as amended.


 


“Funded Debt” means debt
that is not junior in right of payment to the debt securities and that matures at or is extendible or renewable at the option of
the obligor to a date more than 12 months after the date of the creation of such debt.


 


“Global Notes” means
the Notes in global form and registered in the name of the Depository or its nominee that are in the form of Exhibit A.


 


“Guarantor” means each
Subsidiary that provides a guarantee of the Notes.


 


“Independent Investment Banker”
means one of the Reference Treasury Dealers appointed by the Company.


 


“Interest Payment
Date” means, with respect to the payment of interest on the Notes, March 1 and September 1 of each year.


 


“Investment Grade”
means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating category of Moody’s) and
a rating of BBB-or better by S&P (or its equivalent under any successor rating category of S&P), and the equivalent investment
grade credit rating from any replacement rating agency or rating agencies selected by the Company under the circumstances permitting
the Company to select a replacement agency and in the manner for selecting a replacement agency, in each case as set forth in the
definition of “Rating Agency.”


 


“Issue Date” means March 3,
2021.


 


“Moody’s” means
Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors.


 


“Permitted Liens”
means:


 


(1)   Liens
on any Principal Property (including capital stock of any Subsidiary owning such Principal Property) acquired, constructed, improved,
altered, expanded or repaired by the Company or any Subsidiary after the date of this Indenture which liens are created or assumed
contemporaneously with such acquisition, construction, improvement, alteration, expansion or repair, or within 270 days before
or after such acquisition (including, without limitation, acquisition through merger or consolidation), construction, improvement,
alteration, expansion or repair (or the completion of such construction, alteration, improvement or repair or commencement of commercial
operation of such Principal Property, whichever is later), and which are created to secure or provide for the payment of all or
any part of the cost of such acquisition, construction, improvement, alteration, expansion or repair;


 


(2)   Liens
on property, assets or shares of capital stock existing at the time of the acquisition of such property, assets or shares of capital
stock, including liens on property, assets or shares of capital stock of an entity existing at the time such entity becomes a Subsidiary;


 


(3)   Liens
existing on the Issue Date;


 


(4)   Liens
in favor of the Company or any Subsidiary;


 






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(5)      Liens
in favor of the United States of America or any State, or in favor of any department, agency or instrumentality or political division,
or in favor of any other country, or any political subdivision of a foreign country, the purpose of which is to secure partial,
progress, advance or other payments, or other obligations, pursuant to any contract or statute, or to secure debts incurred in
financing the acquisition or construction of or improvements or alterations to property subject thereto;














 


(6)      Liens
imposed by law, for example mechanics’, workmen’s, repairmen’s, or other similar liens arising in the ordinary
course of business;


 


(7)      pledges
or deposits under workmen’s compensation or similar legislation or in certain other circumstances;


 


(8)      Liens
in connection with legal proceedings;


 


(9)      Liens
resulting from the deposit of funds or evidences of indebtedness in trust for the purpose of defeasing or discharging the Company’s
indebtedness or the indebtedness of any Subsidiary, and legal or equitable encumbrances deemed to exist by reason of negative pledges;


 


(10)    Liens
for contested taxes or assessments provided, that an adequate reserve as shall be required in conformity with GAAP shall have been
made therefor;


 


(11)    Liens
consisting of restrictions on the use of real property that do not interfere materially with the property’s use; or


 


(12)    Liens securing indebtedness
or other obligations of a Subsidiary owing to the Company or any other Subsidiary.


 


“Principal Property”
means any manufacturing plant located within the United States of America (other than its territories or possessions) and owned
by the Company or any Subsidiary, the gross book value (without deduction of any depreciation reserves) of which on the date as
of which the determination is being made exceeds 2% of Consolidated Net Tangible Assets of the Company, except any such plant which
is not of material importance to the business conducted by the Company and its Subsidiaries, taken as a whole (as determined by
any two of the following: the Chairman or a Vice Chairman of the Board of the Company, its President, its Chief Financial Officer,
its Vice President of Finance, its Treasurer or its Controller).


 


“Prospectus Supplement”
means the final prospectus supplement dated February 24, 2021 relating to the offering of the Notes.


 


“Rating Agency” means
each of Moody’s and S&P; provided, that if any of Moody’s or S&P ceases to provide rating services to issuers
or investors, the Company may appoint another “nationally recognized statistical rating organization” within the meaning
of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act as a replacement for such Rating Agency; provided, that the Company
shall give notice of such appointment to the Trustee.


 


“Ratings
Event” means the Notes are downgraded and are not rated Investment Grade by each of the Rating Agencies on any
date during the period (the “Trigger Period”) commencing on the earlier of (i) the occurrence of the Change
of Control and (ii) the first public announcement by the Company of any Change of Control (or pending Change of Control) and
ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of
a Change of Control for so long as any Rating Agency has publicly announced that it is considering a possible ratings change),
provided that no such extension shall occur if on such 60th day the Notes have an Investment Grade rating from at least one Rating
Agency and are not subject to review for possible downgrade by such Rating Agency, and provided further, that a Ratings Event will
not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Ratings Event for purposes
of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly
announce or confirm or inform the Company that the reduction was the result, in whole or in part, of any event or circumstance
comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control
has occurred at the time of the Ratings Event). If a Rating Agency is not providing a rating for the Notes during any period, the
Notes will be deemed to have ceased to be rated Investment Grade by such Rating Agency during such period.


 









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“Reference Treasury Dealer”
means each of HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC, their respective successors and assigns and one other
nationally recognized investment banking firm that is a Primary Treasury Dealer specified from time to time by the Company, except
that if any of the foregoing ceases to be a primary U.S. government securities dealer in the United States (a “Primary Treasury
Dealer”), the Company may designate as a 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 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 3:30 p.m., New York City
time, on the third business day preceding such redemption date.


 


On and after any redemption date, interest
will cease to accrue on the Notes called for redemption. Prior to any redemption date, the Company is required to deposit with
the Trustee or with a paying agent money sufficient to pay the redemption price of, and accrued interest on, the Notes to be redeemed
on such date. If the Company is redeeming less than all the Notes, the Trustee under the Indenture must select the Notes to be
redeemed by lot.


 


“Remaining Scheduled Payments”
means, with respect to any Note, the remaining scheduled payments of the principal and interest thereon that would be due if such
Notes matured on March 1, 2026 (excluding accrued but unpaid interest to the related redemption date).


 


“S&P” means S&P
Global Ratings Inc., a division of S&P Global Inc. and its successors.


 


“Securities Act” means
the U.S. Securities Act of 1933, as amended.


 


“Significant Subsidiary”
means any Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02(w)(1) or
(2) of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the date of issuance
of the Notes.


 


“Stated Maturity,” when
used with respect to any Note or any installment of principal thereof or interest thereon, means the date specified in such Note
as the fixed date on which the principal amount of such Note or such installment of principal or interest is due and payable.


 


“Subsidiary” means,
with respect to any specified person:


 


(1)            any
corporation, association or other business entity of which more than 50% of the total voting power of shares of capital stock entitled
(without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement
that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association
or other business entity is at the time owned or controlled, directly or indirectly, by that person or one or more of the other
Subsidiaries of that person (or a combination thereof);


 


(2)            any
partnership (a) the sole general partner or the managing general partner of which is such person or a Subsidiary of such person
or (b) the only general partners of which are that person or one or more Subsidiaries of that person (or any combination thereof);
or


 


(3)            any
limited liability company (a) the manager or managing member of which is such person or a Subsidiary of such person or (b) the
only members of which are that Person or one or more Subsidiaries of that person (or any combination thereof).


 






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Unless the context otherwise requires,
 “Subsidiary” as used herein shall mean a Subsidiary of the Company.


 


“Treasury Rate” means,
with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity (computed as of the
second business day immediately preceding such redemption date) of the Comparable Treasury Issue, assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for such redemption
date.


 


“Trustee” has the meaning
set forth in the recitals to this Supplemental Indenture until a successor replaces it in accordance with the applicable provisions
of the Indenture and, thereafter, means the successor.


 


“Voting Stock” of any
person as of any date means the capital stock of that person that is at the time entitled to vote in the election of the board
of directors (or equivalent body) of such person.


 


SECTION 1.2
Incorporation by Reference of TIA. This Supplemental Indenture is subject to the mandatory provisions of the Trust
Indenture Act of 1939, as amended (the “TIA”). Whenever this Supplemental Indenture refers to a provision of
the TIA, the provision is incorporated by reference in, and made a part of, this Supplemental Indenture.


 


All other terms used in this Supplemental
Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by the Commission
rule under the TIA have the meanings so assigned to them therein.


 


SECTION 1.3
Rules of Construction. Unless the context otherwise requires, for purposes of this Supplemental Indenture:


 


(1)            a
term has the meaning assigned to it herein;


 


(2)            an
accounting term not otherwise defined herein has the meaning assigned to it in accordance with GAAP or a successor to GAAP;


 


(3)            “or”
is not exclusive;


 


(4)            words
in the singular include the plural, and in the plural include the singular;


 


(5)            unless
otherwise specified, any reference to a Section or an Article refers to such Section or Article of this Supplemental
Indenture;


 


(6)            provisions
apply to successive events and transactions;


 


(7)            “will”
and “shall” shall be interpreted to express a command; and


 


(8)            references
to sections of or rules under the Securities Act, the Exchange Act or the TIA shall be deemed to include substitute, replacement
or successor sections or rules adopted by the Commission from time to time.


 


ARTICLE II


 


THE NOTES


 


SECTION 2.1
Creation of Series of Securities. Pursuant to Section 301 of the Base Indenture, there are hereby created
one new series of Securities designated as the “3.7500% Senior Notes due 2031” in an unlimited aggregate principal
amount. On the Issue Date, the Company will issue $350,000,000 in aggregate principal amount of the Notes.


 






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SECTION 2.2
Terms of the Notes.


 


(a)            Form and
Dating. Pursuant to Section 201 of the Base Indenture, the Notes shall be substantially in the form annexed hereto as
Exhibit A. The terms and provisions contained in the form of the Notes annexed hereto as Exhibit A, shall constitute,
and are hereby expressly made, a part of this Supplemental Indenture. The Company shall be entitled to issue, from time to time,
without the consent of the Holders of Notes, additional Notes (in any such case, “Additional Notes”) under this
Supplemental Indenture, provided that any such Additional Notes that are not fungible with the Initial Notes (as defined
below) for United States federal income tax purposes will be issued with a different CUSIP, ISIN or other identifying number
than the CUSIP, ISIN or other identifying number issued to the Initial Notes. Any Additional Notes issued shall have identical
terms and conditions as the Initial Notes, other than with respect to the issue price, the date of issuance, the payment of interest
accruing prior to the issue date of such Additional Notes and the first Interest Payment Date following the issue date of such
Additional Notes. The Initial Notes issued on the Issue Date will be represented initially by one or more Global Notes registered
in the name of Cede & Co., as a nominee of the Depository, The Depository Trust Company. The Notes shall be issued in
fully registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.


 


(b)           Terms
of the Notes.


 


(1)            Principal
Amounts. The aggregate principal amount of the Notes (the “Initial Notes”) that may be initially authenticated
and delivered under the Indenture on the Issue Date shall be $350,000,000. Any Additional Notes and the Initial Notes shall constitute
a single series under the Indenture and will be treated as a single class for all purposes under the Indenture. All references
to the Notes shall include the Initial Notes and any Additional Notes, unless the context otherwise requires. The aggregate principal
amount of the Additional Notes shall be unlimited.


 


(2)           Maturity Date.
The entire outstanding principal of the Notes shall be payable on March 1, 2031.


 


(3)            Interest Rate.
The rate at which the Notes shall bear interest shall be 3.7500% per annum; the date from which interest shall accrue on the Notes
shall be the Issue Date, or the most recent Interest Payment Date to which interest has been paid or provided for; the Interest
Payment Dates for the Notes shall be March 1 and September 1 of each year, beginning September 1, 2021; the interest
so payable, and punctually paid or duly provided for, on any Interest Payment Date, will be paid, in immediately available funds,
to the Persons in whose names the Notes are registered at the close of business on the Regular Record Date for such Interest Payment
Date, which shall be the February 15 or August 15, as the case may be, immediately preceding such Interest Payment Date.


 


(4)            Currency. The
currency of denomination of the Notes is United States Dollars. Payment of principal of and interest and premium on, if any, the
Notes shall be made in United States Dollars.


 


(c)        Additional
Notes. With respect to any Additional Notes, in addition to any other requirements set forth
in the Base Indenture, the Company shall set forth in a Board Resolution or in a supplemental indenture or in an officer’s
certificate, a copy of which shall be delivered to the Trustee, the following information:


 


(1)  the aggregate principal amount
of such Additional Notes to be authenticated and delivered pursuant to this Supplemental Indenture;


 


(2)  the issue price, the issue date
and the CUSIP, ISIN or other identifying number issued to such Additional Notes; and


 


(3)  whether such Additional Notes will
be issued as Global Notes or as Certificated Notes and whether and to what extent the Additional Notes will contain additional
legends.


 






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SECTION 2.3
Transfer and Exchange.


 


(a)            A
Holder of the Notes may transfer or exchange Notes in accordance with the Indenture. The registrar and the Trustee may require
a Holder of the Notes, among other things, to furnish appropriate endorsements and transfer documents in connection with a transfer
of Notes. Holders of the Notes may be required to pay all taxes or other governmental charge due on transfer. The Company is not
required to transfer or exchange any Note selected for redemption. The Company is not required to transfer or exchange any Note
for a period of 15 days before a selection of Notes to be redeemed.


 


SECTION 2.4
Application of Supplemental Indenture. Notwithstanding any other provision of this Supplemental Indenture, all provisions
of this Supplemental Indenture are expressly and solely for the benefit of the Holders of the Notes and any such provisions shall
not be deemed to apply to any other securities issued under the Base Indenture and shall not be deemed to amend, modify or supplement
the Base Indenture for any purpose other than with respect to the Notes. Unless otherwise expressly specified, references in this
Supplemental Indenture to specific Article numbers or Section numbers refer to Articles and Sections contained in this
Supplemental Indenture as they amend or supplement the Base Indenture, and not the Base Indenture or any other document. All Initial
Notes and Additional Notes, if any, will be treated as a single series for all purposes of the Indenture, including waivers, amendments,
redemptions and offers to purchase.


 


SECTION 2.5
Effect of Supplemental Indenture. With respect to the Notes (and only with respect to the Notes), the Base Indenture
shall be supplemented pursuant to Section 901 thereof to establish the terms of the Notes as set forth in this Supplemental
Indenture, including, without limitation, as follows:


 


(a)            The
definition of each term set forth in Section 101 of the Base Indenture is with respect to the Notes (and only with respect
to the Notes) deleted and replaced in its entirety by the definition ascribed to such term in Article I of this Supplemental
Indenture to the extent any such term is defined in both the Base Indenture and this Supplemental Indenture;


 


(b)            To
the extent that the provisions of this Supplemental Indenture conflict with any provision of the Base Indenture, the provisions
of this Supplemental Indenture shall govern and be controlling, with respect to the Notes (and only with respect to the Notes).


 


(c)            Except
as set forth in this Supplemental Indenture, the provisions of the Base Indenture shall remain in full force and effect with respect
to the Notes.


 


ARTICLE III


 


REDEMPTION AND REPURCHASE AT THE OPTION
OF HOLDERS


 


SECTION 3.1
Optional Redemption of the Notes.


 


(a)            Prior
to March 1, 2026, the Company may redeem the Notes in whole at any time or in part from time to time, at its option, on at
least 10 but not more than 60 days’ prior notice, at a redemption price equal to the greater of (i) 100% of the principal
amount of the Notes being redeemed and (ii) the sum of the present values of the Remaining Scheduled Payments on the Notes
being redeemed on the redemption date, discounted to the date of redemption, on a semi-annual basis, at the Treasury Rate plus
50 basis points, plus accrued and unpaid interest on such Notes being redeemed to, but not including, the redemption date. Any
notice of redemption may be subject to one or more conditions precedent.


 


(b)            On
or after March 1, 2026, the Company may on any one or more occasions redeem all or a part of the Notes, at its option, at
the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest to, but excluding,
the date of redemption (subject to the right of holders of record on the relevant record date to receive interest due on the relevant
interest payment date), if redeemed during the 12-month period commencing on March 1 of the years set forth below:


 






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	Period	 	 	Redemption

 Price	 
	2026	 	 	 	101.875	%
	2027	 	 	 	101.250	%
	2028	 	 	 	100.625	%
	2029 and thereafter	 	 	 	100.000	%






 


(c)            Notwithstanding
the foregoing, at any time and from time to time prior to March 1, 2024, the Company may redeem in the aggregate up to 40%
of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional Notes) with
the net cash proceeds of one or more Equity Offerings by the Company, at a redemption price (expressed as a percentage of principal
amount thereof) of 103.750%, plus accrued and unpaid interest to, but excluding, the redemption date (subject to the right of holders
of record on the relevant record date to receive interest due on the relevant interest payment date); provided, however, that at
least 60% of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional
Notes) must remain outstanding after each such redemption; provided, further, that such redemption shall occur within 120 days
after the date on which any such Equity Offering is consummated upon not less than 10 nor more than 60 days’ notice mailed
to each holder of the Notes being redeemed and otherwise in accordance with the procedures set forth in the Indenture.


 


(d)            If
an optional redemption date is on or after a Regular Record Date and on or before the related Interest Payment Date, any accrued
and unpaid interest will be paid to the Person in whose name the Note is registered at the close of business on such Regular Record
Date. In determining the redemption price and accrued interest, interest shall be calculated on the basis of a 360-day year consisting
of twelve 30-day months. Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest
will cease to accrue on the Notes or portions of the Notes called for redemption and those Notes will cease to be outstanding.


 


(e)            The
Trustee shall have no obligation to calculate or verify the calculation of the present values of the Remaining Scheduled Payments,
the Treasury Rate or any aspect of such calculations.


 


(f)            If
less than all of the Notes are to be redeemed at any time, the Trustee will select the Notes for redemption in compliance with
the requirements of the Depository, or if the Notes are not held through a Depository or the Depository prescribes no method of
selection, by lot, in accordance with the Depository’s customary procedures, subject to adjustments so that no Note in an
unauthorized denomination remains outstanding after such redemption or purchase; provided, however, that no Note
of $2,000 in aggregate principal amount of less shall be redeemed in part.


 


(g)            Notices
of optional redemption will be sent by electronic submission (for Notes held in book-entry form) or first class mail at least 10
but not more than 60 days before the redemption date to each Holder of Notes to be redeemed at its registered address, except that
redemption notices may be sent more than 60 days prior to a redemption date if the notice is issued in connection with Article 4
of the Base Indenture.


 


(h)            If
any Note is to be redeemed in part only, the notice of redemption that relates to that Note will state the portion of the principal
amount of that Notes that is to be redeemed. A new Note in principal amount equal to the unredeemed portion of the original Note
will be issued in the name of the Holder of the Note upon cancellation of the original Note if such Notes are held in physical
form.


 


(i)            The
Company and its affiliates may at any time and from time to time purchase Notes in the open market, by tender offer, negotiated
transactions or otherwise.


 






    9


     


    

 


SECTION 3.2
Repurchase at the Option of Holders—Change of Control Triggering Event.


 


(a)          If
a Change of Control Triggering Event occurs, unless the Company at such time has given notice of redemption under Section 3.1
with respect to all outstanding Notes and all conditions to such redemption have either been satisfied or waived, each Holder of
Notes will have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000
in excess thereof) of that Holder’s Notes pursuant to the provisions of this Section 3.2 (the “Change of Control
Offer”). In the Change of Control Offer, the Company will offer a payment in cash equal to 101% of the aggregate principal
amount of the Notes repurchased, plus accrued and unpaid interest, if any, on the Notes repurchased to, but not including, the
date of repurchase (the “Change of Control Payment”).


 


(b)          Within
30 days following any Change of Control Triggering Event, or at the Company’s option, prior to any Change of Control but
after the public announcement of the pending Change of Control, unless the Company at such time has given notice of redemption
under Sections 3.1 with respect to all outstanding Notes, the Company shall send a notice to each Holder and the Trustee describing
the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on
the date specified in the notice (the “Change of Control Payment Date”), which date will be no earlier than
10 days and no later than 60 days from the date such notice is sent, other than as may be required by law, pursuant to the procedures
required by the Indenture and described in such notice. If a Change of Control Payment Date is on or after a Regular Record Date
and on or before the related Interest Payment Date, any accrued and unpaid interest will be paid to the Person in whose name the
Note is registered at the close of business on such Regular Record Date. The notice, if mailed prior to the date of consummation
of the Change of Control, will state that the Change of Control Offer is conditioned on the Change of Control being consummated
on or prior to the Change of Control Payment Date. The Company will comply with the requirements of Rule 14e-1 under the Exchange
Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection
with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any
securities laws or regulations conflict with the Change of Control provisions of the Indenture, the Company will comply with the
applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 3.2
by virtue of such compliance.


 


(c)          On
the Change of Control Payment Date, the Company will, to the extent lawful:


 


(1)            accept
or cause a third party to accept for payment all Notes or portions of Notes (equal to $2,000 or an integral multiple of $1,000
in excess thereof) properly tendered and not withdrawn pursuant to the Change of Control Offer;


 


(2)            deposit
or cause a third party to deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes
or portions of Notes properly tendered and not withdrawn; and


 


(3)            deliver
or cause to be delivered to the Trustee the Notes properly accepted together with an officer’s certificate stating the aggregate
principal amount of the Notes or portions of Notes being repurchased by the Company and that all conditions precedent to the Change
of Control Offer and to the repurchase by the Company of Notes pursuant to the Change of Control Offer have been complied with.


 


The Paying Agent will promptly mail to each
Holder of Notes properly tendered and not withdrawn the Change of Control Payment for such Notes, and the Trustee will promptly
authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased
portion of the Notes surrendered, if any; provided, that each such new Note will be in a minimum principal amount of $2,000
or an integral multiple of $1,000 in excess thereof.


 






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(d)            The
Company will not be required to make a Change of Control Offer with respect to the Notes upon a Change of Control Triggering Event
if (1) a third party makes the Change of Control Offer with respect to such Notes in the manner, at the times and otherwise
in compliance with the requirements set forth in the Indenture applicable to a Change of Control Offer made by the Company and
purchases all the Notes properly tendered and not withdrawn under the Change of Control Offer, or (2) a notice of redemption
has been given pursuant to the Indenture with respect to the Notes under Section 3.1, unless and until there is a default
in payment of the applicable redemption price. Notwithstanding anything to the contrary contained in this Section 3.2, a Change
of Control Offer may be made in advance of a Change of Control Triggering Event, conditioned upon the occurrence of such Change
of Control Triggering Event (whether or not a Ratings Event has occurred), if a definitive agreement is in place for a Change of
Control at the time the Change of Control Offer is made.


 








(e)            No
Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of Control unless and
until such Change of Control has actually been consummated.


 


ARTICLE IV


 


COVENANTS


 


This Article IV shall replace and supersede
in its entirety Sections 1004 through 1010 of Article 10 of the Base Indenture.


 


SECTION 4.1
Limitation on Secured Debt.


 


(a)            The
Company will not, nor will it permit any of its Subsidiaries to, create, incur or assume any Lien (other than Permitted Liens)
that secures any Debt on any Principal Property of the Company or any Subsidiary, or on capital stock of any Subsidiary that owns
a Principal Property (“secured debt”), without securing the Notes (together with, at the option of the Company,
any other Debt of the Company or such Subsidiary ranking equally in right of payment with the Notes) equally and ratably with or,
at the option of the Company, prior to, such other Debt for so long as such other Debt is so secured. Any Lien that is granted
to secure the Notes under this Section 4.1 shall be automatically released and discharged at the same time as the release
of the Lien that gave rise to the obligation to secure the Notes under this Section 4.1.


 


(b)            The
restrictions set forth in Section 4.1(a) do not apply to extensions, renewals or replacements, in whole or in part, of
any secured debt (and for the avoidance of doubt, any successive extensions, renewals or replacements of such secured debt), so
long as the principal amount of secured debt shall not exceed the amount of secured debt existing at the time of such extension,
renewal or replacement (plus an amount equal to any premiums, accrued interest, fees, expenses or other costs payable in connection
therewith).


 


(c)            The
Company or any Subsidiary may incur or otherwise create secured debt without equally and ratably securing the Notes if, when such
secured debt is incurred or created, the total amount of all outstanding secured debt (excluding Debt secured by Permitted Liens)
plus Attributable Debt relating to sale and leaseback transactions entered into pursuant to Section 4.2(c)(1) does not
exceed 15% of the Company’s Consolidated Net Tangible Assets.


 


SECTION 4.2
Limitation on Sale and Leaseback Transactions.


 


(a)            The
Company will not, nor will it permit any of its Subsidiaries to enter into any sale and leaseback transaction involving any Principal
Property, unless within 270 days, the Company applies (1) to the purchase, construction, development, expansion or improvement
of other property or equipment used or useful in the Company’s business or (2) to the retirement of the Company’s
Funded Debt an amount not less than the greater of:


 


(1)            the
net proceeds of the sale of the Principal Property sold and leased back pursuant to the arrangement; and


 


(2)            the
amount of Attributable Debt associated with the Principal Property sold and leased back.


 


(b)            The
amount required to be applied to the retirement of Funded Debt in satisfaction of clause (2) of the preceding paragraph shall
be reduced by (1) the principal amount of any debt securities delivered within 120 days after the sale and leaseback transaction
to the Trustee for retirement and cancellation, and (2) the principal amount of Funded Debt, other than debt securities, voluntarily
retired by the Company within 120 days after the sale and leaseback transaction. Notwithstanding the foregoing, no retirement of
Funded Debt may be effected by payment at maturity or pursuant to any mandatory prepayment provision.








 






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(c)            The
limitations contained in Section 4.2(a) shall not apply to the following:


 


(1)            a
sale and leaseback transaction if the Company or a Subsidiary would be entitled to incur Debt secured by a lien on the Principal
Property to be leased, without equally and ratably securing the Notes, in an aggregate principal amount equal to the Attributable
Debt with respect to such sale and leaseback transaction;


 


(2)            leases
for a term of not more than three years;


 


(3)            a
sale and leaseback transaction between the Company and a Subsidiary or between Subsidiaries; or


 


(4)            if,
at the time of the sale and leaseback transaction, after giving effect to the transaction the total Attributable Debt of all sale
and leaseback transactions entered into pursuant to Section 4.2(c)(1), plus all outstanding secured debt (excluding Debt secured
by Permitted Liens) does not exceed 15% of the Company’s Consolidated Net Tangible Assets.


 


SECTION 4.3
Reports.


 


The Company shall file with
the Trustee and the Commission, and transmit to Holders of the Notes such information, documents and other reports, and such summaries
thereof, as may be required pursuant to the TIA at the times and in the manner provided in the TIA provided that, unless
available on the SEC’s EDGAR reporting system, any such information, documents or reports required to be filed with the Commission
pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is
filed with the SEC. The Trustee is not responsible for the review or dissemination of such information, documents, other reports
and the related summaries provided hereunder.


 


SECTION 4.4
Additional Subsidiary Guarantees.


 


The Company shall cause any Subsidiary that
hereafter becomes a guarantor under the Credit Agreement to, within 30 days of the date such Subsidiary becomes a guarantor under
the Credit Agreement, to guarantee, on a joint and several basis with the Guarantors, the Company’s obligations under the
Notes and the Indenture with respect to the Notes and to execute a supplemental indenture containing substantially the terms set
forth in Article VIII of this Supplemental Indenture evidencing such guarantee.  The Company’s obligations to cause
the issuance of the guarantees hereunder shall only apply with respect to any specific Subsidiary until such time as such Subsidiary
has been released from its obligations pursuant to Section 8.3.


 


ARTICLE V


 


DEFAULTS AND REMEDIES


 


This Article V shall replace and supersede in its entirety
Article 5 of the Base Indenture with the exception of Sections 501(f), 501(g) and 502 of the Base Indenture.


 


SECTION 5.1
Events of Default.


 


(a)          Each
of the following is an “Event of Default” with respect to the Notes:


 


(1)            default
in any payment of interest on any Note when due, and the continuance of such default for 30 days;


 


(2)            default
in the payment of principal of, or premium, if any, on the Notes when due and payable;


 






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(3)            default
for 60 days after written notice specifying the default from the Trustee or Holders of at least 25% of the aggregate principal
amount of the then outstanding Notes to comply with any other agreement in the Indenture not specified above;








 


(4)            an
event of default under any indenture or instrument under which the Company or any Guarantor that is a Significant Subsidiary has
outstanding at least $100,000,000 aggregate principal amount of Debt, which results in the acceleration of that Debt where the
acceleration is not rescinded or annulled within 30 days after notice pursuant to the Indenture has been provided; or


 


(5)            an
Event of Default under Section 501(f) or Section 501(g) of the Base Indenture in respect of the Company or
any Significant Subsidiary has occurred.


 


(b)            The
Trustee may withhold notice to the Holders of the Notes of any default, except with respect to the payment of principal, premium
or interest, if it considers such withholding of notice in the interest of such Holders.


 


SECTION 5.2
Remedies.


 


(a)          If
an Event of Default (other than an Event of Default described in Section 5.1(a)(5) above with respect to the Company)
occurs and is continuing, the Trustee by notice in writing specifying the Event of Default to the Company, or the Holders of at
least 25% in aggregate principal amount of the then outstanding Notes by notice to the Company and the Trustee, may declare the
principal of, premium, if any, and accrued and unpaid interest, if any, on all the Notes to be due and payable. Upon such a declaration,
such principal, premium, if any, and accrued and unpaid interest, if any, will be due and payable immediately.


 


(b)          If
an Event of Default described in Section 5.1(a)(5) occurs and is continuing with respect to the Company, the principal
of, premium, if any, and accrued and unpaid interest, if any, on all the Notes will become and be immediately due and payable without
any declaration or other act on the part of the Trustee or any Holders of the Notes.


 


(c)          If
an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under
the Indenture or the Notes at the request or direction of any of the Holders of the Notes unless
such Holders have offered to the Trustee indemnity or security satisfactory to it against any costs, liability and expenses, except
to enforce the right to receive payment of principal, premium, if any, and interest, if any, when due.


 


(d)          The
Holders of a majority in aggregate principal amount of the then outstanding Notes are given the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on
the Trustee, with respect to such Notes.


 


(e)          No
Holder of the Notes may pursue any remedy with respect to the Indenture or the Notes unless:


 


(1)            such
Holder has previously given the Trustee notice that an Event of Default is continuing;


 


(2)            the
Holders of at least 25% in aggregate principal amount of the then outstanding Notes have requested the Trustee to pursue the remedy;


 


(3)            such
Holders have offered the Trustee reasonable indemnity against any costs, expenses and liabilities to be incurred in compliance
with such request;


 


(4)            the
Trustee has not complied with such request within 60 days after the receipt of the request and the offer of indemnity; and


 


(5)            the
Holders of a majority in aggregate principal amount of the then outstanding Notes have not given the Trustee a direction that is
inconsistent with such request within such 60-day period.


 



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(f)            In
the event an Event of Default has occurred and is continuing, the Trustee shall be required, in the exercise of its powers, to
use the degree of care that a prudent person would use under the circumstances in the conduct of his or her own affairs. The Trustee,
however, may refuse to follow any direction that conflicts with law or the Indenture or the Notes or that the Trustee determines
in good faith is unduly prejudicial to the rights of any other Holder (it being understood that the Trustee does not have an affirmative
duty to ascertain whether or not such directions are unduly prejudicial to such Holders) or that would involve the Trustee in
personal liability. Prior to taking any action under the Indenture, the Trustee will be entitled to security or indemnification
satisfactory to it in its sole discretion against all costs, liability and expenses caused by taking or not taking such action.


 


(g)            The
Holders of not less than a majority in aggregate principal amount of the then outstanding Notes may on behalf of the Holders of
all the Notes rescind any acceleration or waive any existing or past defaults and its consequences under the Indenture, if (1) rescission
would not conflict with any judgment or decree of a court of competent jurisdiction and (2) all existing Events of Default,
other than the nonpayment of the principal of, premium, if any, and interest on the Notes that have become due solely by such
declaration of acceleration, have been cured or waived, except that each Holder of the Notes affected by a default must consent
to a waiver of:


 


(1)            a
default in payment of the principal of, or premium, if any, or interest, if any, on the Notes; and


 


(2)            a
default in respect of a covenant or provision of the Indenture that cannot be amended or modified without the consent of each
Holder of the Notes.


 


ARTICLE VI


 


SUPPLEMENTAL INDENTURES


 


SECTION 6.1
Without Consent of Holders.


 


(a)            Without
the consent of any Holders of the Notes, the Company, when authorized by or pursuant to a Board Resolution, and the Trustee, at
any time and from time to time, may modify or amend the Indenture, in form satisfactory to the Trustee, for any, but not limited
to, of the following purposes:


 


(1)            to
evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company
herein and in the Notes;


 


(2)            to
add provisions for the benefit of the Holders of the Notes , or to surrender any right or power in the Indenture conferred upon
the Company;


 


(3)            to
add any additional Events of Default;


 


(4)            to
evidence and provide for the acceptance of appointment of a successor trustee;


 


(5)            to
cure any ambiguity, to correct or supplement any provision in the Indenture which may be inconsistent with any other provision
of the Indenture, or to make any other change; in each case, that does not adversely affect the interests of the Holders of the
Notes in any material respect;


 


(6)            to
conform the terms of the Indenture or the Notes to the description thereof contained in the Prospectus Supplement;


 


(7)            to
provide for the Notes to become secured (or to release such security as permitted by the Indenture and the applicable security
documents);


 


(8)            to
provide for additional guarantees of the Notes (or to release such guarantees as permitted by the Indenture); or


 



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(9)            to
provide for the issuance of additional Notes in accordance with the limitations set forth in the Indenture.


 


ARTICLE VII


 


SATISFACTION AND DISCHARGE


 


SECTION 7.1
Amendment to Base Indenture.


 


(a)            The
third line of Section 403 of the Base Indenture is hereby amended with respect to the Notes to delete “91st day after
the”.


 


ARTICLE VIII


 


GUARANTEES


 


SECTION 8.1
Guarantees.


 


(a)            Each
of the Guarantors hereby fully and unconditionally guarantees (collectively, the “Guarantees”), on a joint
and several basis to each Holder of the Notes and to the Trustee and its successors and assigns on behalf of each Holder of the
Notes, the full and punctual payment of principal of (and premium, if any) and (subject to Section 307 of the Base Indenture)
interest on, and all other monetary obligations of the Company under the Base Indenture, this Supplemental Indenture and the Notes
(including obligations to the Trustee), in each case, with respect to Notes authenticated and delivered by the Trustee or its
agent pursuant to and in accordance with the Indenture when and as the same shall become due and payable, in accordance with the
terms of the Indenture and the Notes (all the foregoing being hereinafter collectively referred to as the “Obligations”). 
Each Guarantor further agrees that the Obligations may be extended or renewed, in whole or in part, without notice or further
assent from such Guarantor and that such Guarantor will remain bound under this Article VIII notwithstanding any extension
or renewal of any Obligation.  All payments under each Guarantee will be made as specified in Section 311 of the Base
Indenture.


 


(b)          
Each Guarantor hereby agrees that its obligations hereunder shall be as if it were principal debtor and not merely surety and
shall be absolute, full and unconditional, unaffected by, and irrespective of, any invalidity, irregularity or unenforceability
of the Notes, the Base Indenture or this Supplemental Indenture, any failure to enforce the provisions of the Notes, the Base
Indenture or this Supplemental Indenture, any waiver, modification or indulgence granted to the Company with respect thereto by
the Holders of the Notes or the Trustee, or any other circumstance which may otherwise constitute a legal or equitable discharge
of a surety or guarantor (except payment in full).  Each Guarantor hereby waives diligence, presentment, demand of payment,
filing of claims with a court in the event of merger or bankruptcy of the Company, any right to require that the Trustee pursue
or exhaust its legal or equitable remedies against the Company prior to exercising its rights under a Guarantee (including, for
the avoidance of doubt, any right which a Guarantor may have to require the seizure and sale of the assets of the Company to satisfy
the outstanding principal of, interest on or any other amount payable under the Notes prior to recourse against such Guarantor
or its assets), protest or notice with respect to the Notes or the Debt evidenced thereby and all demands whatsoever, and covenants
that its Guarantee will not be discharged with respect to the Notes except by payment in full of the principal thereof and interest
thereon or as otherwise provided in the Base Indenture or in this Supplemental Indenture, including Section 8.4.  If
at any time any payment of principal of (and premium, if any) and interest on the Notes is rescinded or must be otherwise restored
or returned upon the insolvency, bankruptcy or reorganization of any Guarantor’s obligations hereunder with respect to such
payment shall be reinstated as of the date of such rescission, restoration or return as though such payment had become due but
had not been made at such times.


 



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Neither a failure nor a delay on the part
of either the Trustee or the Holders of the Notes in exercising any right, power or privilege under this Article VIII shall
operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right,
power or privilege.  The rights, remedies and benefits of the Trustee and the Holders of the Notes expressed in this Article VIII
are cumulative and exclusive of any other rights, remedies or benefits that either may have under this Article VIII at law,
in equity, by statute or otherwise.


 


(c)            Each Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees) incurred by the
Trustee or any Holder of the Notes in enforcing any rights under this Section 8.1.


 


(d)            
Upon request of the Trustee, each Guarantor shall execute and deliver such instruments and do such further acts as may be reasonably
necessary to give effect to this Supplemental Indenture.


 


SECTION 8.2
Subrogation.


 


(a)            Each Guarantor shall be subrogated to all rights of the Holders of the Notes against the Company in respect of any amounts paid
to such Holders of the Notes by such Guarantor pursuant to the provisions of its Guarantee.


 


(b)            Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders of the Notes in respect
of any Obligations guaranteed hereby until payment in full of all Obligations.  Each Guarantor further agrees that, as between
it, on the one hand, and the Holders of the Notes and the Trustee, on the other hand, (x) the maturity of the Obligations
guaranteed hereby may be accelerated as provided in Section 502 of the Base Indenture for the purposes of the Guarantees
herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Obligations guaranteed
hereby, and (y) in the event of any declaration of acceleration of such Obligations as provided in Section 502 of the
Base Indenture, such Obligations shall forthwith become due and payable by the Guarantor for the purposes of this Section 8.2.


 


SECTION 8.3
Release of Guarantees. A Guarantee of a Guarantor shall be automatically and unconditionally released, and the Guarantor
that granted such Guarantee shall be automatically and unconditionally released from its Obligations:


 


(a)            in the event that all of the capital stock or other equity interests, or all or substantially all of the assets, of such Guarantor
are sold or transferred, including by way of merger, consolidation or otherwise, in a transaction in compliance with the terms
of the Indenture;


 


(b)            upon defeasance as provided in Sections 7.01 and 7.02 or satisfaction and discharge of the Indenture as provided in Article 4
of the Base Indenture;


 


(c)            upon redemption of the Notes as provided in Section 3.1; or


 


(d)            upon release of such Guarantor’s Guarantee of all indebtedness under the Credit Agreement other than a release by or as
a result of payment under such Guarantee.


 


SECTION 8.4
Limitation and Effectiveness of Guarantees. Each Guarantee is limited to an amount not to exceed the maximum amount
that can be guaranteed by such Guarantor that gave such Guarantee without rendering such Guarantee, as it relates to such Guarantor,
voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of
creditors generally or the maximum amount otherwise permitted by law.


 


SECTION 8.5
Notation not Required. Each Guarantor hereby agrees that its Guarantee set forth in Section 8.1 shall remain
in full force and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes.


 



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ARTICLE IX


 


METHODS OF RECEIVING PAYMENTS ON THE NOTES


 


SECTION 9.1
Methods of Receiving Payments on the Notes. With respect to Notes represented by global notes, the Company will
pay all principal, interest and premium, if any, on such Notes in accordance with the procedures of the depositary. If a Holder
of Notes has given wire transfer instructions to the Company, the Company will pay all principal, interest and premium, if any,
on that Holder’s Notes in accordance with those instructions. All other payments on Notes will be made at the office or
agency of the Paying Agent and Registrar unless the Company elects to make interest payments by check mailed to the Holders of
the Notes at their address set forth in the register of Holders.


 


ARTICLE X


 


MISCELLANEOUS


 


SECTION 10.1
Term Defined. For all purposes of this Supplemental Indenture, except as otherwise defined or unless the context
otherwise requires, terms used in capitalized form in this Supplemental Indenture and defined in the Indenture have the meanings
specified in the Indenture.


 


SECTION 10.2
Indenture. Except as amended hereby, the Indenture and the Notes are in all respects ratified and confirmed and
all the terms shall remain in full force and effect.


 


SECTION 10.3
Governing Law. This supplemental indenture shall be governed by and construed in accordance with the laws of the
State of New York.


 


SECTION 10.4
Successors. All agreements of the Company and each Guarantor in this Supplemental Indenture and the Notes shall
bind its successors. All agreements of the Trustee in this Supplemental Indenture and the Notes shall bind its successors.


 


SECTION 10.5
Multiple Counterparts. This Supplemental Indenture may be signed in any number of counterparts each of which so
executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Supplemental
Indenture.


 


SECTION 10.6
Effectiveness. The provisions of this Supplemental Indenture will take effect immediately upon its execution and
delivery by the Trustee in accordance with the provisions of Section 903 of the Base Indenture.


 


SECTION 10.7
Trustee Disclaimer. The Trustee accepts the amendment of the Indenture effected by this Supplemental Indenture and
agrees to execute the trust created by the Indenture as hereby amended, but only upon the terms and conditions set forth in the
Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the Trustee, which
terms and provisions shall in like manner define and limit its liabilities and responsibilities in the performance of the trust
created by the Indenture as hereby amended, and without limiting the generality of the foregoing, the Trustee shall not be responsible
in any manner whatsoever for or with respect to any of the recitals or statements contained herein, all of which recitals or statements
are made solely by the Company and the Guarantors, or for or with respect to (i) the validity or sufficiency of this Supplemental
Indenture or any of the terms or provisions hereof, (ii) the proper authorization hereof by the Company and each Guarantor
by corporate action or otherwise, (iii) the due execution hereof by the Company and each Guarantor, (iv) the consequences
(direct or indirect and whether deliberate or inadvertent) of any amendment herein provided for, and the Trustee makes no representation
with respect to any such matters.


 


[Signatures on following
page]


 



    17


     


    









IN WITNESS WHEREOF, the parties hereto
have caused this Supplemental Indenture to be duly executed as of the date first above written.


 


		HILLENBRAND, INC.
	 	 
		By:	/s/ Theodore S. Haddad, Jr.
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title:  Vice President and Treasurer



 


[Signature page
to the Supplemental Indenture]


 






     


     


    




		U.S. Bank National Association, as
    Trustee
	 	 
		By:	/s/ Sharon P. Karst
	 	 	Name: Sharon P. Karst
	 	 	Title:  Vice President






 


[Signature page
to the Supplemental Indenture]


 



     


     


    





 


	 	BATESVILLE SERVICES, INC.
	 	 	 
	 	By:	/s/ Theodore S. Haddad, Jr.
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title:  Vice President and Treasurer 




 




	 	BATESVILLE CASKET COMPANY, INC.
	 	 	 
	 	By:	/s/ Theodore S. Haddad, Jr.
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title:  Vice President and Treasurer 




 


	 	K-TRON INVESTMENT CO.
	 	 	 
	 	By:	/s/ Theodore S. Haddad, Jr.
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title:  Assistant Treasurer 



 


	 	PROCESS EQUIPMENT GROUP, INC.
	 	 	 
	 	By:	/s/ Theodore S. Haddad, Jr.
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title:  Treasurer 




 


	 	HILLENBRAND LUXEMBOURG, INC.
	 	 	 
	 	By:	/s/ Theodore S. Haddad, Jr.
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title:  Treasurer




 


	 	MILACRON PLASTICS TECHNOLOGIES GROUP LLC
	 	 	 
	 	By:	/s/ Theodore S. Haddad, Jr.
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title:  Treasurer




 


[Signature
page to the Supplemental Indenture]


 






     


     


    

 


	 	MILACRON MARKETING COMPANY LLC
	 	 	 
	 	By:	/s/ Theodore S. Haddad, Jr.
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title:  Treasurer



 


	 	MILACRON LLC
	 	 	 
	 	By:	/s/ Theodore S. Haddad, Jr.
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title:  Treasurer 



 


[Signature
page to the Supplemental Indenture]


 






     


     


    

 


EXHIBIT A


 


(Face of Note)


3.7500% Senior Notes due 2031


 


[Insert Global Note Legend, if applicable,
pursuant to the provisions of the Indenture]


 


HILLENBRAND, INC.


3.7500% SENIOR NOTES DUE 2031


 


	No. [  ]	 	 	 	CUSIP: 431571 AE8
	 	 	 	 	 ISIN: US431571 AE83


 


Hillenbrand, Inc., an Indiana corporation, or its successor,
promises to pay to Cede & Co., or registered assigns, the principal sum of [●] Dollars ($[●]), or such other
amount as provided on the “Schedule of Principal Amount” attached as Schedule A hereto, on [●], 2031.


 


Interest Payment Dates: March 1 and September 1 of
each year, beginning on September 1, 2021.


 


Regular Record Dates: February 15 and August 15


 


Reference is made to further provisions of this Note set forth
on the reverse hereof, which further provisions shall for all purposes have the same effect as set forth at this place.


 


Unless the certificate of authentication hereon has been executed
by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefits under the
Indenture referred to on the reverse hereof or be valid or obligatory for any purpose.


 






    A-1 


     


    

 


In WITNESS HEREOF, the undersigned has caused this instrument
to be duly executed.


 


	 	Dated:
	 	 
	 	HILLENBRAND, INC.
	 	 	 
	 	By:	 
	 	 	Name: Theodore S. Haddad, Jr.
	 	 	Title: Vice President and Treasurer



 


TRUSTEE’S CERTIFICATE OF AUTHENTICATION


This is one of the Securities of the series designated therein


referred to in the within-mentioned Indenture:


 


	Date of Authentication: 	 	 


 


	U.S. Bank National Association,	 
	as Trustee	 
	 	 	 
	By:	 	 
	 	Authorized Officer	 



 






    A-2 


     


    

 


(Reverse of Note)


3.7500% Senior Notes due 2031


HILLENBRAND, INC.


 


Capitalized terms used herein shall have the meanings assigned
to them in the Indenture referred to below unless otherwise indicated.


 


(1) Interest. Hillenbrand, Inc., an Indiana
corporation, or its successor (together, the “Company”), promises to pay interest on the principal amount of
this Note (the “Notes”) at a fixed rate of 3.7500% per annum. The Company will pay interest in United
States dollars semi-annually in arrears on March 1 and September 1 of each year, commencing September 1, 2021 or,
if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”).
Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid,
from and including March 3, 2021; provided that if there is no existing Default or Event of Default in the payment
of interest, and if this Note is authenticated between a Regular Record Date referred to on the face hereof and the next succeeding
Interest Payment Date (but after March 3, 2021), interest shall accrue from such next succeeding Interest Payment Date, except
in the case of the original issuance of the Notes, in which case interest shall accrue from the date of authentication. Interest
shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The interest rate on the Notes will in no event
be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application.


 


(2) Method of Payment. The Company will pay interest
on the Notes (except defaulted interest, if any) on the applicable Interest Payment Date to the Persons who are registered Holders
of the Notes at the close of business on the Regular Record Date immediately preceding the relevant Interest Payment Date, even
if such Notes are cancelled after such Regular Record Date and on or before such Interest Payment Date, except as provided in Section 301
of the Base Indenture with respect to defaulted interest. The Notes shall be payable as to principal, premium and interest at the
office or agency of the Company maintained for such purpose, which, initially, will be the corporate trust office of the Trustee
located at U.S. Bank National Association, 60 Livingston Avenue, St. Paul, Minnesota 55107, or, at the option of the Company, payment
of interest may be made by check mailed to the Holders of the Notes at their addresses set forth in the register of Holders; provided
that payment by wire transfer of immediately available funds shall be required with respect to principal of, premium, if any, and
interest on, all Global Notes and all other Notes the Holders of which shall have provided written wire transfer instructions to
the Company and the Paying Agent (as described below). Such payment shall be in such coin or currency of the United States of America
as at the time of payment is legal tender for payment of public and private debts.


 


Any payments of principal of and interest on this Note prior
to Stated Maturity shall be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer
hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. The amount due and payable at the maturity of this
Note shall be payable only upon presentation and surrender of this Note at an office of the Trustee or the Trustee’s agent
appointed for such purposes.


 


(3) Paying Agent and Registrar. Initially, U.S.
Bank National Association, the Trustee under the Indenture with respect to the Notes, shall act as Paying Agent and registrar.
The Company may change any Paying Agent or registrar without notice to any Holder. The Company or any of its Subsidiaries may act
in any such capacity.


 


(4) Indenture. The Company issued the Notes under
an indenture dated as of July 9, 2010 (the “Base Indenture,”), a third supplemental indenture, dated as
of September 25, 2019 (the “Third Supplemental Indenture”), a fourth supplemental indenture, dated as of
June 16, 2020 (the “Fourth Supplemental Indenture”), a fifth supplemental indenture, dated as of December 15,
2020 (the “Fifth Supplemental Indenture”), a sixth supplemental indenture, dated as of December 15, 2020
(the “Sixth Supplemental Indenture”), and a seventh supplemental indenture, dated as of March 3, 2021 (the
 “Seventh Supplemental Indenture” and, together with the Base Indenture, the Third Supplemental Indenture, the
Fourth Supplemental Indenture, the Fifth Supplemental Indenture and the Sixth Supplemental Indenture, the “Indenture”),
between the Company and the Trustee. The terms of the Notes include those stated in the Indenture and those made a part of the
Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb) (the “TIA”).
To the extent the provisions of this Note are inconsistent with the provisions of the Indenture, the Indenture shall govern. The
Notes are subject to all such terms, and Holders of the Notes are referred to the Indenture and the TIA for a statement of such
terms.


 






    A-3 


     


    

 


The Trustee shall have no obligation to calculate or verify
the calculation of the present value of the Remaining Scheduled Payments, the Treasury Rate or any aspect of such calculations.


 


(5) Sinking Fund. The Company shall not be required
to make sinking fund payments with respect to the Notes.


 


(6) Optional Redemption.


 


Except as set forth below, the Company shall not be entitled
to redeem the Notes at its option.


 


(a)            Prior
to March 1, 2026, the Notes will be redeemable in whole at any time or in part from time to time, at the option of the Company,
on at least 10 but not more than 60 days’ prior notice, at a redemption price equal to the greater of (i) 100% of the
principal amount of the Notes being redeemed and (ii) the sum of the present values of the Remaining Scheduled Payments on
the Notes being redeemed on the applicable redemption date, discounted to the date of redemption, on a semi-annual basis (assuming
a 360 day year consisting of twelve 30 day months), at the Treasury Rate (as defined herein) plus 50 basis points, plus accrued
and unpaid interest on such Notes being redeemed to, but not including, the redemption date. Any notice of redemption may be subject
to one or more conditions precedent.


 


(b)            On
or after March 1, 2026, the Company may on any one or more occasions redeem all or a part of the Notes, at its option, at
the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest to, but excluding,
the date of redemption (subject to the right of holders of record on the relevant record date to receive interest due on the relevant
interest payment date), if redeemed during the 12-month period commencing on March 1 of the years set forth below:


 


	Period	 	Redemption

 Price	 
	2026	 	 	101.875	%
	2027	 	 	101.250	%
	2028	 	 	100.625	%
	2029 and thereafter	 	 	100.000	%




 


(c)            Notwithstanding
the foregoing, at any time and from time to time prior to March 1, 2024, the Company may redeem in the aggregate up to 40%
of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional Notes) with
the net cash proceeds of one or more Equity Offerings by the Company, at a redemption price (expressed as a percentage of principal
amount thereof) of 103.750%, plus accrued and unpaid interest to, but excluding, the redemption date (subject to the right of holders
of record on the relevant record date to receive interest due on the relevant interest payment date); provided, however, that at
least 60% of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional
Notes) must remain outstanding after each such redemption; provided, further, that such redemption shall occur within 120 days
after the date on which any such Equity Offering is consummated upon not less than 10 nor more than 60 days’ notice mailed
to each holder of the Notes being redeemed and otherwise in accordance with the procedures set forth in the Indenture.


 


“Comparable Treasury Issue” means the United
States Treasury security selected by an Independent Investment Banker as having a maturity date comparable to the remaining term
of the Notes (as measured from the date of redemption and assuming for this purpose that the Notes matured on March 1, 2026)
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.


 






    A-4 


     


    





 


“Comparable Treasury Price” means, with respect
to any redemption date, (i) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding
the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains
fewer than five such Reference Treasury Dealer Quotations, the average of all Quotations obtained.


 


“Independent Investment Banker” means one
of the Reference Treasury Dealers appointed by the Company.


 


“Reference Treasury Dealer” means each of
HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC, their respective successors and assigns and one other nationally recognized
investment banking firm that is a Primary Treasury Dealer specified from time to time by the Company, except that if any of the
foregoing ceases to be a primary U.S. government securities dealer in the United States (a “Primary Treasury Dealer”),
the Company may designate as a 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 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 3:30 p.m., New York City
time, on the third business day preceding such redemption date.


 


On and after any redemption date, interest will cease to accrue
on the Notes called for redemption. Prior to any redemption date, the Company is required to deposit with the Trustee or with a
paying agent money sufficient to pay the redemption price of, and accrued interest on, the Notes to be redeemed on such date. If
the Company is redeeming less than all the Notes , the Trustee under the indenture must select the Notes to be redeemed by such
method as the Trustee deems fair and appropriate in accordance with methods generally used at the time of selection by fiduciaries
in similar circumstances.


 


“Remaining Scheduled Payments” means, with
respect to any Note, the remaining scheduled payments of the principal and interest thereon that would be due if such Notes matured
on March 1, 2026 (excluding accrued but unpaid interest to the related redemption date).


 


“Treasury Rate” means, with respect to any
redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity (computed as of the second business day
immediately preceding such redemption date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for such redemption date.


 


(7) Denominations, Transfer, Exchange. The Notes
are in registered form without coupons in initial denominations of $2,000 and any integral multiple of $1,000 in excess thereof.
The transfer of the Notes may be registered and the Notes may be exchanged as provided in the Indenture. The registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may
require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register
the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed
in part. Also, it need not transfer or exchange any Notes for a period of 15 days before a selection of Notes to be redeemed.


 


(8) Persons Deemed Owners. The registered Holder
of a Note may be treated as its owner for all purposes.


 


(9) Defaults and Remedies.


 


(A)         Each
of the following constitutes an “Event of Default”:


 


(1)            default
in any payment of interest on any Note when due, and the continuance of such default for 30 days;


 






    A-5


     


    

 


(2)            default
in the payment of principal of, or premium, if any, on the Notes when due and payable;


 


(3)            default
for 60 days after written notice specifying the default from the Trustee or Holders of at least 25% of the aggregate principal
amount of the then outstanding Notes to comply with any other agreement in the Indenture not specified above;


 


(4)            an
event of default under any indenture or instrument under which the Company or any Significant Subsidiary has outstanding at least
$100,000,000 aggregate principal amount of indebtedness for money borrowed, which results in the acceleration of that indebtedness
where the acceleration is not rescinded or annulled within 30 days after notice pursuant to the Indenture has been provided; or


 


(5)            an
Event of Default under Section 501(f) or Section 501(g) of the Base Indenture in respect of the Company or
any Significant Subsidiary has occurred.


 


(B)         The
Trustee may withhold notice to the Holders of the Notes of any default, except with respect to the payment of principal, premium
or interest, if it considers such withholding of notice in the interest of such Holders.


 


(C)         If
an Event of Default (other than an Event of Default described in in clause (A)(5) above or Section 5.1(a)(5) of
the Supplemental Indenture with respect to the Company) occurs and is continuing, the Trustee by notice in writing specifying the
Event of Default to the Company, or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes by
notice to the Company and the Trustee, may declare the principal of, premium, if any, and accrued and unpaid interest, if any,
on all the Notes to be due and payable. Upon such a declaration, such principal, premium, if any, and accrued and unpaid interest,
if any, will be due and payable immediately.


 


(D)         If
an Event of Default described in clause (A)(5) above or Section 5.1(a)(5) of the Supplemental Indenture occurs and
is continuing with respect to the Company, the principal of, premium, if any, and accrued and unpaid interest, if any, on all the
Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders
of the Notes.


 


(E)          If
an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under
the Indenture or the Notes at the request or direction of any of the Holders of the Notes unless
such Holders have offered to the Trustee indemnity or security satisfactory to it against any costs, liability and expenses, except
to enforce the right to receive payment of principal, premium, if any, and interest, if any, when due.


 


(F)         The
Holders of a majority in aggregate principal amount of the then outstanding Notes are given the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on
the Trustee, with respect to such Notes.


 


(G)         No
Holder may pursue any remedy with respect to the Indenture or the Notes unless:


 


(1)            such
Holder has previously given the Trustee notice that an Event of Default is continuing;


 


(2)            the
Holders of at least 25% in aggregate principal amount of the then outstanding Notes have requested the Trustee to pursue the remedy;


 


(3)            such
Holders have offered the Trustee security or indemnity satisfactory to the Trustee against any costs, liability and expenses to
be incurred in compliance with such request;


 


(4)            the
Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity;
and


 


(5)            the
Holders of a majority in aggregate principal amount of the then outstanding Notes have not given the Trustee a direction that is
inconsistent with such request within such 60-day period.


 






    A-6


     


    

 


(H)         In
the event an Event of Default has occurred and is continuing, the Trustee shall be required, in the exercise of its powers, to
use the degree of care that a prudent person would use under the circumstances in the conduct of his or her own affairs. The Trustee,
however, may refuse to follow any direction that conflicts with law or the Indenture or the Notes or that the Trustee determines
in good faith is unduly prejudicial to the rights of any other Holder (it being understood that the Trustee does not have an affirmative
duty to ascertain whether or not such directions are unduly prejudicial to such Holders) or that would involve the Trustee in personal
liability. Prior to taking any action under the Indenture, the Trustee will be entitled to security or indemnification satisfactory
to it in its sole discretion against all costs, liability and expenses caused by taking or not taking such action.


 


(I)          The
Holders of a majority in aggregate principal amount of the then outstanding Notes may on behalf of the Holders of all the Notes
rescind any acceleration or waive any existing or past defaults and its consequences under the Indenture, if (1) rescission
would not conflict with any judgment or decree of a court of competent jurisdiction and (2) all existing Events of Default,
other than the nonpayment of the principal of, premium, if any, and interest on the Notes that have become due solely by such declaration
of acceleration, have been cured or waived, except that each Holder of the Notes affected by a default must consent to a waiver
of:


 


(1)            a
default in payment of the principal of, or premium, if any, or interest, if any, on the Notes; and


 


(2)            a
default in respect of a covenant or provision of the Indenture that cannot be amended or modified without the consent of each Holder
of the Notes .


 


(J)          The
Company will furnish to the Trustee annual statements as to the fulfillment of the Company’s obligations under the Indenture.


 


(10) Trustee Dealings with the Company. The Trustee,
in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its affiliates,
and may otherwise deal with the Company or its affiliates, as if it were not the Trustee.


 


(11) No Recourse Against Others. No director, officer,
employee, stockholder or other affiliate of the Company or any Guarantor, as such or in such capacity, shall have any personal
liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the subsidiary guarantees, or for
any claim based on, in respect of, or by reason of, such obligations or their creation, by reason of his, her or its status as
such director, officer, employee, stockholder or other affiliate. Each Holder of the Notes by accepting the Note waives and releases
all such liability. The waiver and release are part of the consideration for the issuances of the Notes.


 


No recourse may, to the full extent permitted by applicable
law, be taken, directly or indirectly, with respect to the obligations of the Company or under the Indenture or any related documents,
any certificate or other writing delivered in connection therewith, against (i) the Trustee in its individual capacity, or
(ii) any partner, owner, beneficiary, agent, officer, director, employee, agent, successor or assign of the Trustee, each
in its individual capacity, or (iii) any Holder of equity in the Trustee.


 


(12) Authentication. This Note shall not be valid until
authenticated by the manual signature of the Trustee or an authenticating agent.


 


(13) Abbreviations. Customary abbreviations may be used
in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors
Act).


 


(14) CUSIP and ISIN Numbers. Pursuant to a recommendation
promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP and ISIN numbers to be
printed on the Notes and the Trustee may use CUSIP, ISIN or other similar numbers in notices of redemption as a convenience
to the Holders of the Notes. No representation is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon.


 






    A-7


     


    

 


(15) GOVERNING LAW; WAIVER OF TRIAL BY JURY. THE INDENTURE
AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY, THE
TRUSTEE and each Holder by accepting a Security IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THE
INDENTURE OR THE TRANSACTIONS CONTEMPLATED THEREBY.


 


The Company shall furnish to any Holder upon written request
and without charge a copy of the Indenture. Requests may be made to:


 


Hillenbrand, Inc.


One Batesville Boulevard, Batesville, Indiana 47006


Attention: Secretary


Facsimile No.: (812) 931-5209


 






    A-8


     


    

 


ASSIGNMENT FORM


 


To assign this Note, fill in the form below: (I) or (we)
assign and transfer this Note to


 


	 	 
	(Insert assignee’s soc. sec. or tax I.D. no.)	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	(Print or type assignee’s name, address and zip
code)	 



 


	 	 
	and irrevocably appoint	
 


	to transfer this Note on the books of the Company.  The agent may substitute another to act for him.


 


	 	 
	Date:	 
	 	 
	 	Your Signature: 
	 	(Sign exactly as your name appears on the face of this Note)


 


	 
	Signature guarantee: 


 


(Signature must be guaranteed by a participant in a recognized
signature guarantee medallion program)


 






    A-9


     


    

 


SCHEDULE A


 


SCHEDULE OF PRINCIPAL AMOUNT


 


The following decreases or increases in the principal amount
of this Global Note have been made:


 


	
        Date of Decrease

        or Increase
	 	Amount of

Decrease in

Principal Amount

of this Global Note	 	Amount of

Increase in

Principal Amount

of this Global Note	 	Principal Amount

of this Global Note

Following Such

Decrease (or

Increase)	 	Signature of

Authorized Officer

of Trustee or Note

Custodian
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 


 






    A-10