EX-4.14



 Exhibit 4.14 

Execution Copy 
 THIS FIRST
SUPPLEMENTAL INDENTURE, dated as of May 10, 2013 (this “Supplemental Indenture”), is by and among U.S. Coatings Acquisition Inc., a corporation incorporated under the laws of the State of Delaware (“U.S.
Co-Issuer”), and Flash Dutch 2 B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands with corporate seat in Amsterdam, The Netherlands
(“Dutch Co-Issuer” and, together with U.S. Co-Issuer, the “Issuers”), each of the parties identified as a New Guarantor on the signature pages hereto (each, a “New Guarantor” and collectively, the
“New Guarantors”) and Wilmington Trust, National Association, as trustee (in such capacity, the “Trustee”) and collateral agent (in such capacity, the “Collateral Agent”). 

W I T N E S S E T H 
 WHEREAS,
the Issuers, certain guarantors listed on the signature pages thereto, the Trustee, the Collateral Agent, Citigroup Global Markets Deutschland AG, as Registrar, and Citibank N.A., London Branch, as Paying Agent and Authenticating Agent, are parties
to an indenture dated as of February 1, 2013 (the “Indenture”), providing for the issuance of the Issuers’ 5.750% Senior Secured Notes due 2021 (the “Notes”); 

WHEREAS, Section 3.11 of the Indenture provides that under certain circumstances the New Guarantors shall execute and deliver to the
Trustee a supplemental indenture pursuant to which the New Guarantors shall unconditionally guarantee all of the Issuers’ obligations under the Notes and the Indenture on the terms and conditions set forth herein; and 

WHEREAS, pursuant to Section 9.1 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the Issuers, the New Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

1. Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

2. Agreements to Become Guarantors. Each of the New Guarantors hereby unconditionally guarantees the Issuers’ obligations for the
due and punctual payment of the principal of, premium, if any, and interest on all the Notes and the performance and observance of each other obligation and covenant set forth in the Indenture to be performed or observed on the part of the Issuers,
on the terms and subject to the conditions and restrictions (in particular, without limitation, restrictions applying to a Swiss Guarantor) set forth in Article X of the Indenture and agrees to be bound by all other provisions of the Indenture and
the Notes applicable to a Guarantor therein. 
 3. Ratification of Indenture; Supplemental Indenture Part of Indenture. Except as
expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all
purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 
 4. No Recourse Against
Others. No manager, managing director, director, officer, employee, incorporator or holder of any Equity Interests in Dutch Co-Issuer, U.S. Co-Issuer, any Subsidiary or any direct or indirect parent of Dutch Co-Issuer, as such, shall have any
liability for any obligations of the Issuers or the New Guarantors under the Notes, the Indenture, the Guarantees or the Notes Security Documents or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each
Holder of Notes, by accepting a Note, waives and releases all such liability. This waiver and release are part of the consideration for issuance of the Notes. This waiver may not be effective to waive liabilities under the federal securities laws
and it is the view of the SEC that such a waiver is against public policy. 







 5. Notices. For purposes of Section 12.1 of the Indenture, the address for notices to
each of the New Guarantors shall be: 
 U.S. Coatings Acquisition Inc. 

Flash Dutch 2 B.V. 
 c/o The
Carlyle Group 
 1001 Pennsylvania Avenue Northwest 

Washington, DC 20004 
 Facsimile:
(202) 347-1818 
 Tel: (202) 729-2626 

Attention: Martin Sumner; Wesley Bieligk 

6. Governing Law. This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New
York. 
 7. Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an
original, but all of them together shall represent the same agreement. Delivery of an executed counterpart of a signature page to this Supplemental Indenture by telecopier, facsimile or other electronic transmission (i.e. a “pdf” or
“tif”) shall be effective as delivery of a manually executed counterpart thereof. 
 8. Effect of Headings. The section
headings herein are for convenience only and shall not affect the construction hereof. 
 9. The Trustee. The Trustee shall not be
responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by each of the New Guarantors. 

[remainder of page intentionally blank] 







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

					
	U.S. COATINGS ACQUISITION INC.
		
	By:	 	 /s/ Robert W. Bryant

		 	Name:	 	Robert W. Bryant
		 	Title:	 	President and Secretary
	
	FLASH DUTCH 2 B.V.
		
	By:	 	 /s/ Marco Besseling

		 	Name:	 	Marco Besseling
		 	Title:	 	Managing Director A
	
	Intertrust (Netherlands) B.V.
	Managing Director B
		
	By:	 	 /s/ D.A. de Vries

		 	Name:	 	D.A. de Vries
		 	Title:	 	Proxyholder
		
	By:	 	 /s/ T. Huisman

		 	Name:	 	T. Huisman
		 	Title:	 	Proxyholder



  
 [Signature Page to the
Euro Notes First Supplemental Indenture] 








 
					
	DuPont Performance Coatings (Switzerland) Sàrl, as a New Guarantor
		
	By:	 	 /s/ Danielle Blomert

		 	Name:	 	Danielle Blomert
		 	Title:	 	Managing Director
	
	DuPont Russian Coatings (Suisse) Sàrl, as a New Guarantor
		
	By:	 	 /s/ Danielle Blomert

		 	Name:	 	Danielle Blomert
		 	Title:	 	Managing Director
	
	DuPont Polymer Powders Switzerland Sàrl, as a New Guarantor
		
	By:	 	 /s/ Danielle Blomert

		 	Name:	 	Danielle Blomert
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Olivier Cohn

		 	Name:	 	Olivier Cohn
		 	Title:	 	Board Member



  
 [Signature Page to the
Euro Notes First Supplemental Indenture] 








 
					
	Limited Liability Company “DuPont Performance Coatings Rus”,
	as a New Guarantor
		
	By:	 	 /s/ Alexey Aleksandrovich Vodinsky

		 	Name:	 	Alexey Aleksandrovich Vodinsky
		 	Title:	 	General Director



  
 [Signature Page to the
Euro Notes First Supplemental Indenture] 








 
					
	Sweden Coatings Co. AB (corporate identity no. 556913-7416), as a New Guarantor
		
	By:	 	 /s/ Turid Kirkemo Blickström

		 	Name:	 	Turid Kirkemo Blickström
		 	Title:	 	Director
	
	DuPont Powder Coatings Scandinavia AB (corporate identity no 556035-3913), as a New Guarantor
		
	By:	 	 /s/ Björn Wagner

		 	Name:	 	Björn Wagner
		 	Title:	 	Director
		
	By:	 	 /s/ Cecilia Löwnertz

		 	Name:	 	Cecilia Löwnertz
		 	Title:	 	Director
	
	DuPont Performance Coatings Scandinavia AB
	(corporate identity no 556047-9460), as a New Guarantor
		
	By:	 	 /s/ Turid Kirkemo Blickström

		 	Name:	 	Turid Kirkemo Blickström
		 	Title:	 	Director



  
 [Signature Page to the
Euro Notes First Supplemental Indenture] 








 
					
	AXALTA COATING SYSTEMS CANADA COMPANY, as a New Guarantor
		
	By:	 	 /s/ Mario Tremblay

		 	Name:	 	Mario Tremblay
		 	Title:	 	Director and President



  
 [Signature Page to the
Euro Notes First Supplemental Indenture] 








 
					
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
	as Trustee and Collateral Agent
		
	By:	 	 /s/ Joseph P O’Donnell

		 	Name:	 	Joseph P O’Donnell
		 	Title:	 	Vice President



  
 [Signature Page to the
Euro Notes First Supplemental Indenture]