Document:

exhibit_4-1.htm

Exhibit 4.1

 

EXECUTION VERSION

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration Rights Agreement, dated as of March 25, 2014 (as amended, modified or otherwise supplemented from time to time, the “Agreement”), is entered into by and among Jazz Technologies, Inc., a Delaware corporation (the “Company”), the Guarantors (defined below) and the Holders (defined below).

 

WHEREAS, the Company, Tower Semiconductor Ltd., a company formed under the laws of Israel and holder of all of the issued and outstanding capital stock of the Company (“Tower”), the Guarantors and the Exchanging Holders (defined below) are parties to the Exchange Agreement dated March 19, 2014 (as amended, modified or otherwise supplemented from time to time, the “Exchange Agreement”), which provides for the issuance to the Exchanging Holders by the Company of $48,307,000 aggregate principal amount of the Company’s 8% Convertible Senior Notes due 2018 (the “Notes”) which are convertible into ordinary shares of Tower, par value New Israeli Shekels 15.00 per share (the “Ordinary Shares”), in exchange for $44,623,000 aggregate principal amount of the Company’s 8% Senior Notes due 2015.

 

WHEREAS, the Company, the Guarantors, Tower and the New Money Holders (defined below) are parties to the Note Purchase Agreement dated March 19, 2014 (as amended, modified or otherwise supplemented from time to time, the “Note Purchase Agreement”), which provides for the issuance by the Company to the New Money Holders of $10,000,000 aggregate principal amount of Notes, in consideration for $9,233,610.35 in cash.

 

WHEREAS, as an inducement to the Exchanging Holders to enter into the Exchange Agreement and the New Money Holders to enter into the Note Purchase Agreement,  the Company has agreed to provide to the Holders the registration rights set forth in this Agreement.  The execution and delivery of this Agreement is a condition to the closing under the Exchange Agreement and the Note Purchase Agreement.

 

In consideration of the foregoing, the parties hereto agree as follows:

 

1.           Definitions.  As used in this Agreement, the following terms shall have the following meanings:

 

 “Additional Guarantor” shall mean any subsidiary of the Company that executes a Subsidiary Guarantee under the Indenture after the date of this Agreement.

 

“Additional Interest” shall mean the interest payable under Section 2(d).

 

“Business Day” shall mean any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed.

 

“Closing Date” shall mean the first date of the original issuance of the Notes.

 

“Company” shall have the meaning set forth in the preamble and shall also include the Company’s successors.

 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

 

“Exchange Agreement” shall have the meaning set forth in the preamble.

 

  

  

  

 

“Exchanging Holders” shall mean each of the holders listed on Schedule 1 hereto.

 

 “Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the Securities Act) prepared by or on behalf of the Company or used or referred to by the Company in connection with the sale of the Notes.

 

“Guarantor” shall mean each Guarantor party to the Indenture and shall also include any Guarantor’s successors and any Additional Guarantors.

 

“Holders” shall mean the Exchanging Holders and the New Money Holders, for so long as they own any Notes, and each of their successors, assigns and direct and indirect transferees who become owners of Registrable Securities under the Indenture.

 

“Indemnified Person” shall have the meaning set forth in Section 5(c) hereof.

 

“Indemnifying Person” shall have the meaning set forth in Section 5(c) hereof.

 

“Indenture” shall mean the Indenture, dated as of March 25, 2014, among the Company, Tower, the subsidiary guarantors from time to time party thereto and U.S. Bank National Association, as trustee, relating to the Notes, and as the same may be amended from time to time in accordance with the terms thereof.

 

“Inspector” shall have the meaning set forth in Section 3(a)(xiii) hereof.

 

“Issuer Information” shall have the meaning set forth in Section 5(a) hereof.

 

“Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of the outstanding Notes registered under the Shelf Registration Statement constituting Registrable Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its affiliates shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount.

 

“New Money Holders” shall mean each of the holders listed on Schedule 2 hereto.

 

“Note Purchase Agreement” shall have the meaning set forth in the recitals.

 

“Notes” shall have the meaning set forth in the recitals.

 

“Notice and Questionnaire” means a notice and questionnaire in substantially the form attached hereto as Annex A.

 

“Ordinary Shares” shall have the meaning set forth in the recitals.

 

“Person” shall mean an individual, partnership, limited liability company, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof.

 

“Prospectus” shall mean the prospectus included in, or, pursuant to the rules and regulations of the Securities Act, deemed a part of, a Shelf Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities, and by all other amendments and supplements to such prospectus, and in each case including any document incorporated by reference therein.

 

  

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“Registrable Securities” shall mean the Notes; provided that the Notes shall cease to be Registrable Securities (i) when a Shelf Registration Statement with respect to such Notes has become effective under the Securities Act and such Notes have been disposed of pursuant to such Shelf Registration Statement, (ii) such Notes have been sold pursuant to Rule 144, (iii) such Notes are eligible to be sold pursuant to Rule 144 (or any similar provision then in force, but not Rule 144A) under the Securities Act and the holding period contemplated by Rule 144(d)(ii) has passed and such Notes may be freely sold without compliance with the volume or manner of sale requirements of Rule 144 pursuant to Rule 144(b)(1) (or such Notes may otherwise be resold under any similar provision allowing the resale of such shares without restriction), and in any instance covered by this clause (iii) the Company shall have notified the Trustee that such Notes need not bear any restrictive legend and instructed the Trustee to remove any such legend and associated stop transfer instructions or (iv) when such Notes cease to be outstanding.

 

“Registration Expenses” shall mean any and all expenses incident to performance of or compliance by the Company and the Guarantors with this Agreement, including without limitation:  (i) all SEC, stock exchange or Financial Industry Regulatory Authority, Inc. registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and disbursements of counsel for any Underwriters or Holders in connection with blue sky qualification of any Registrable Securities), (iii) all expenses of any Persons in preparing or assisting in preparing, word processing, printing and distributing any Shelf Registration Statement, any Prospectus and any amendments or supplements thereto, any underwriting agreements, securities sales agreements or other similar agreements and any other documents relating to the performance of and compliance with this Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the qualification of the Indenture under applicable securities laws, (vi) the fees and disbursements of the Trustee and its counsel, (vii) the fees and disbursements of counsel for the Company and the Guarantors and the fees and disbursements of one counsel for the Holders (which counsel shall be selected by the Majority Holders and which counsel may also be counsel for the Holders) and (viii) the fees and disbursements of the independent public accountants of the Company and the Guarantors, including the expenses of any special audits or “comfort” letters required by or incident to the performance of and compliance with this Agreement, but excluding fees and expenses of counsel to the Underwriters (other than fees and expenses set forth in clause (ii) above) or the Holders and underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Securities by a Holder.

 

“SEC” shall mean the United States Securities and Exchange Commission.

 

“Securities Act” shall mean the Securities Act of 1933, as amended from time to time.

 

“Shelf Additional Interest Date” shall have the meaning set forth in Section 2(d) hereof.

 

“Shelf Effectiveness Period” shall have the meaning set forth in Section 2(a) hereof.

 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(a) hereof.

 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company and the Guarantors that covers all or a portion of the Registrable Securities (but no other securities unless approved by a majority of the Holders whose Registrable Securities are to be covered by such Shelf Registration Statement) on an appropriate form under Rule 415 under the Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein.

 

  

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“Subsidiary Guarantees” shall mean the guarantees of the Notes by the Guarantors under the Indenture.

 

“Staff” shall mean the staff of the SEC.

 

 “Target Registration Date” shall have the meaning set forth in Section 2(d) hereof.

 

“Tower” shall have the meaning set forth in the recitals hereof.

 

“Tower Registration Rights Agreement” shall have the meaning set forth in Section 4(a) hereof.

 

“Tower Shelf Effectiveness Period” shall have the meaning set forth in Section 4(a) hereof.

 

 “Tower Shelf Registration Statement” shall have the meaning set forth in Section 4(a) hereof.

 

 “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from time to time.

 

“Trustee” shall mean the trustee with respect to the Notes under the Indenture.

 

“Underwriter” shall have the meaning set forth in Section 3(e) hereof.

 

“Underwritten Offering” shall mean an offering in which Registrable Securities are sold to an Underwriter for reoffering to the public.

 

2.           Registration Under the Securities Act.

 

(a)           The Company and the Guarantors shall use their commercially reasonable efforts to cause to be filed as soon as practicable, and in any event no later than 60 days after the Closing Date, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the Holders thereof and to have such Shelf Registration Statement become effective no later than 120 days after the Closing Date.  The Company and the Guarantors agree to use their commercially reasonable efforts to keep the Shelf Registration Statement continuously effective until all of the Notes cease to be Registrable Securities (the “Shelf Effectiveness Period”).

 

(b)           The Company and the Guarantors further agree to supplement or amend the Shelf Registration Statement and the related Prospectus if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any other rules and regulations thereunder or if reasonably requested by a Holder of Registrable Securities with respect to information relating to such Holder, and to use their commercially reasonable efforts to cause any such amendment to become effective, if required, and such Shelf Registration Statement and Prospectus to become usable as soon as thereafter practicable.  The Company and the Guarantors agree to furnish to the Holders of Registrable Securities copies of any such supplement or amendment promptly after its being used or filed with the SEC.

 

  

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(c)           The Company and the Guarantors shall pay all Registration Expenses in connection with any registration pursuant to Section 2(a) hereof.  Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf Registration Statement.

 

(d)           A Shelf Registration Statement pursuant to Section 2(a) hereof will not be deemed to have become effective unless it has been declared effective by the SEC or is automatically effective upon filing with the SEC as provided by Rule 462 under the Securities Act.

 

In the event that the Shelf Registration Statement does not become effective on or prior to the 121st day after the Closing Date (the “Target Registration Date”), the per annum interest rate on the Registrable Securities will be increased by 1.00% until the Shelf Registration Statement becomes effective or the Notes become freely tradable under the Securities Act.  If the Shelf Registration Statement has become effective and thereafter either ceases to be effective or the Prospectus contained therein ceases to be usable, in each case whether or not permitted by this Agreement, at any time during the Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 30 days (whether or not consecutive) in any 12-month period, then the per annum interest rate on the Registrable Securities will be increased by 1.00% commencing on the 31st day in such 12-month period and ending on such date that the Shelf Registration Statement has again become effective or the Prospectus again becomes usable.

 

(e)           Without limiting the remedies available to the Holders, the Company and the Guarantors acknowledge that any failure by the Company or the Guarantors to comply with their obligations under Section 2(a) hereof may result in material irreparable injury to the Holders for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of any such failure, any Holder may obtain such relief as may be required to specifically enforce the Company’s and the Guarantors’ obligations under Section 2(a) hereof.

 

(f)             At least 15 Business Days prior to the filing thereof, the Company will give notice of its intention to file the Shelf Registration Statement to the Holders.  Each Holder of Registrable Securities agrees to deliver a Notice and Questionnaire and such information as the Company may reasonably request in writing, if any, to the Company at least five Business Days prior to the anticipated effective date of the Shelf Registration Statement as so notified by the Company.  If a Holder does not deliver a Notice and Questionnaire and provide the information the Company may reasonably request, that Holder will not be named as a selling securityholder in the Prospectus and will not be permitted to sell its securities under the Shelf Registration Statement.  From and after the effective date of the Shelf Registration Statement, the Company shall use commercially reasonable efforts, as promptly as is practicable after the date a Notice and Questionnaire is delivered, and in any event within five Business Days after such date, (i) if required by applicable law, to file with the Commission a post-effective amendment to the Shelf Registration Statement; and, if the Company shall file a post-effective amendment to the Shelf Registration Statement, use commercially reasonable efforts to cause such post-effective amendment to be declared effective under the Securities Act as promptly as is practicable; or to prepare and, if permitted or required by applicable law, to file a supplement to the related Prospectus or an amendment or supplement to any document incorporated therein by reference or file any other required document so that the Holder delivering such Notice and Questionnaire is named as a selling securityholder in the Shelf Registration Statement and the related Prospectus, and so that such Holder is permitted to deliver such Prospectus to purchasers of the Registrable Securities in accordance with applicable law; provided that the Company shall not be required to file a supplement or post-effective amendment during any period contemplated by Section 3(c); (ii) provide such Holder, upon request, copies of any documents filed pursuant to Section 2(f)(i) hereof; and (iii) notify such Holder as promptly as practicable after the effectiveness under the Act of any post-effective amendment filed pursuant to Section 2(f)(i) hereof; provided that if such Notice and Questionnaire is delivered during a period contemplated by Section 3(c), the Company shall so inform the Holder delivering such Notice and Questionnaire and shall take the actions set forth in clauses (i), (ii) and (iii) above upon expiration of such period in accordance with Section 3(i) hereof.

 

  

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(g)             The Company shall comply with all applicable rules and regulations of the SEC and shall make generally available to its securityholders an earnings statement satisfying the provisions of Section 11(a) and Rule 158 of the Securities Act (in either case, or such longer period as permitted by the SEC pursuant to Rule 12b-25 promulgated under the Exchange Act) no later than 45 days after the end of a 12-month period (or 90 days, if such period is a fiscal year) beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Shelf Registration Statement.

 

(h)           The Company represents, warrants and covenants that it (including its agents and representatives) will not prepare, make, use, authorize, approve or refer to any Free Writing Prospectus.

 

3.             Registration Procedures.

 

(a)           In connection with their obligations pursuant to Section 2(a) hereof, the Company and the Guarantors shall as expeditiously as possible:

 

(i)        prepare and file with the SEC a Shelf Registration Statement on the appropriate form under the Securities Act, which form (x) shall be selected by the Company and the Guarantors, (y) shall be available for the sale of the Registrable Securities by the Holders thereof and (z) shall comply as to form in all material respects with the requirements of the applicable form and include all financial statements required by the SEC to be filed therewith; and use their commercially reasonable efforts to cause such Shelf Registration Statement to become effective and remain effective for the applicable period in accordance with Section 2 hereof;

 

(ii)        prepare and file with the SEC such amendments and post-effective amendments to each Shelf Registration Statement as may be necessary to keep such Shelf Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented by any required prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the Securities Act that is applicable to transactions by brokers or dealers with respect to the Registrable Securities;

 

(iii)        furnish to each Holder of Registrable Securities, to counsel for such Holders and to each Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge, as many copies of each Prospectus or preliminary prospectus, and any amendment or supplement thereto, as such Holder, counsel or Underwriter may reasonably request in order to facilitate the sale or other disposition of the Registrable Securities thereunder; and the Company and the Guarantors consent to the use of such Prospectus, preliminary prospectus and any amendment or supplement thereto in accordance with applicable law by each of the Holders of Registrable Securities and any such Underwriters in connection with the offering and sale of the Registrable Securities covered by and in the manner described in such Prospectus, preliminary prospectus or any amendment or supplement thereto in accordance with applicable law;

 

  

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(iv)        use their commercially reasonable efforts to register or qualify the Registrable Securities under all applicable state securities or blue sky laws of such jurisdictions as any Holder of Registrable Securities covered by the Shelf Registration Statement shall reasonably request in writing by the time the Shelf Registration Statement becomes effective; cooperate with such Holders in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc.; and do any and all other acts and things that may be reasonably necessary or advisable to enable each Holder to complete the disposition in each such jurisdiction of the Registrable Securities owned by such Holder; provided that neither the Company nor any Guarantor shall be required to (1) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (2) file any general consent to service of process in any such jurisdiction or (3) subject itself to taxation in any such jurisdiction if it is not so subject;

 

(v)        notify each Holder of Registrable Securities and counsel for such Holders promptly and, if requested by any such Holder or counsel, confirm such advice in writing (1) when the Shelf Registration Statement has become effective, when any post-effective amendment thereto has been filed and becomes effective and when any amendment or supplement to the Prospectus has been filed, (2) of any request by the SEC or any state securities authority for amendments and supplements to the Shelf Registration Statement or Prospectus or for additional information after the Shelf Registration Statement has become effective, (3) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of the Shelf Registration Statement or the initiation of any proceedings for that purpose, including the receipt by the Company of any notice of objection of the SEC to the use of the Shelf Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act, (4) if, between the applicable effective date of the Shelf Registration Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the Company or any Guarantor contained in any underwriting agreement, securities sales agreement or other similar agreement, if any, relating to an offering of such Registrable Securities cease to be true and correct in all material respects or if the Company or any Guarantor receives any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, (5) of the happening of any event during the period the Shelf Registration Statement is effective that makes any statement made in the Shelf Registration Statement or the related Prospectus untrue in any material respect or that requires the making of any changes in such Shelf Registration Statement or Prospectus in order to make the statements therein not misleading and (6) of any determination by the Company or any Guarantor that a post-effective amendment to the Shelf Registration Statement or any amendment or supplement to the Prospectus would be appropriate;

 

(vi)        use their commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of the Shelf Registration Statement or the resolution of any objection of the SEC pursuant to Rule 401(g)(2), including by filing an amendment to such Shelf Registration Statement on the proper form, at the earliest possible moment and provide immediate notice to each Holder of the withdrawal of any such order or such resolution;

 

(vii)        furnish to each Holder of Registrable Securities, without charge, at least one manually executed copy of the Shelf Registration Statement and any post-effective amendment thereto (without any documents incorporated therein by reference or exhibits thereto, unless requested);

 

(viii)                  cooperate with the Holders of Registrable Securities to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends and enable such Registrable Securities to be issued in such denominations and registered in such names as such Holders may reasonably request at least one Business Day prior to the closing of any sale of Registrable Securities;

 

  

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(ix)        upon the occurrence of any event contemplated by Section 3(a)(v)(5) hereof, use their commercially reasonable efforts to prepare and file with the SEC a supplement or post-effective amendment to such Shelf Registration Statement or the related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Securities, such Prospectus will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the Company and the Guarantors shall notify the Holders of Registrable Securities to suspend use of the Prospectus as promptly as practicable after the occurrence of such an event, and such Holders hereby agree to suspend use of the Prospectus until the Company and the Guarantors have amended or supplemented the Prospectus to correct such misstatement or omission;

 

(x)        a reasonable time prior to the filing of the Shelf Registration Statement, any Prospectus, any amendment to the Shelf Registration Statement or amendment or supplement to a Prospectus or of any document that is to be incorporated by reference into the Shelf Registration Statement or a Prospectus after initial filing of the Shelf Registration Statement, provide copies of such document to the Holders of Registrable Securities and their counsel and make such of the representatives of the Company and the Guarantors as shall be reasonably requested by the Holders of Registrable Securities or their counsel available for discussion of such document; and the Company and the Guarantors shall not, at any time after initial filing of the Shelf Registration Statement, use or file any Prospectus, any amendment of or supplement to the Shelf Registration Statement or a Prospectus, or any document that is to be incorporated by reference into the Shelf Registration Statement or a Prospectus, of which the Holders of Registrable Securities and their counsel shall not have previously been advised and furnished a copy or to which the Holders of Registrable Securities or their counsel shall object;

 

(xi)        obtain a CUSIP number for all Registrable Securities not later than the initial effective date of the Shelf Registration Statement;

 

(xii)        cause the Indenture to be qualified under the Trust Indenture Act in connection with the registration of the Registrable Securities; cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be required for the Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and execute, and use their commercially reasonable efforts to cause the Trustee to execute, all documents as may be required to effect such changes and all other forms and documents required to be filed with the SEC to enable the Indenture to be so qualified in a timely manner;

 

(xiii)                  make available for inspection by a representative of the Holders of the Registrable Securities (an “Inspector”), any Underwriter participating in any disposition pursuant to the Shelf Registration Statement, any attorneys and accountants designated by a majority of the Holders of Registrable Securities to be included in the Shelf Registration and any attorneys and accountants designated by such Underwriter, at reasonable times and in a reasonable manner, all pertinent financial and other records, documents and properties of the Company and its subsidiaries, and cause the respective officers, directors and employees of the Company and the Guarantors to supply all information reasonably requested by any such Inspector, Underwriter, attorney or accountant in connection with the Shelf Registration Statement; provided that if any such information is identified by the Company or any Guarantor as being confidential or proprietary, each Person receiving such information shall take such actions as are reasonably necessary to protect the confidentiality of such information to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of any Inspector, Holder or Underwriter and such Inspector, Holder or Underwriter shall use commercially reasonable efforts to provide notice, to the extent permitted by law, to the Company of any potential disclosure by such Inspector, Holder or Underwriter of information under this Section 3(a)(xiii) which is identified as confidential or proprietary pursuant to this clause to permit the Company to obtain a protective order;

 

  

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(xiv)                  use their commercially reasonable efforts to cause all Registrable Securities to be listed on any securities exchange or any automated quotation system on which similar securities issued or guaranteed by the Company or any Guarantor are then listed if requested by the Majority Holders, to the extent such Registrable Securities satisfy applicable listing requirements;

 

(xv)        if reasonably requested by any Holder of Registrable Securities covered by the Shelf Registration Statement, promptly include in a Prospectus supplement or post-effective amendment such information with respect to such Holder as such Holder reasonably requests to be included therein and make all required filings of such Prospectus supplement or such post-effective amendment as soon as the Company has received notification of the matters to be so included in such filing;

 

(xvi)                  enter into such customary agreements and take all such other actions in connection therewith (including those requested by the Holders of a majority in principal amount of the Registrable Securities covered by the Shelf Registration Statement) in order to expedite or facilitate the disposition of such Registrable Securities including, but not limited to, an Underwritten Offering and in such connection, (1) to the extent possible, make such representations and warranties to the Holders and any Underwriters of such Registrable Securities with respect to the business of the Company and its subsidiaries and the Shelf Registration Statement, Prospectus and documents incorporated by reference or deemed incorporated by reference, if any, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the same if and when requested, (2) obtain opinions of counsel to the Company and the Guarantors (which counsel and opinions, in form, scope and substance, shall be reasonably satisfactory to the Holders and such Underwriters and their respective counsel) addressed to each selling Holder and Underwriter of Registrable Securities, covering the matters customarily covered in opinions requested in underwritten offerings of debt securities similar to the Registrable Securities, (3) obtain “comfort” letters from the independent certified public accountants of the Company and the Guarantors (and, if necessary, any other certified public accountant of any subsidiary of the Company or any Guarantor, or of any business acquired by the Company or any Guarantor for which financial statements and financial data are or are required to be included in the Shelf Registration Statement) addressed to each selling Holder (to the extent permitted by applicable professional standards) and Underwriter of Registrable Securities, such letters to be in customary form and covering matters of the type customarily covered in “comfort” letters in connection with underwritten offerings of debt securities similar to the Registrable Securities, including but not limited to financial information contained in any preliminary prospectus or Prospectus and (4) deliver such documents and certificates as may be reasonably requested by the Holders of a majority in principal amount of the Registrable Securities being sold or the Underwriters, and which are customarily delivered in underwritten offerings of debt securities similar to the Registrable Securities, to evidence the continued validity of the representations and warranties of the Company and the Guarantors made pursuant to clause (1) above and to evidence compliance with any customary conditions contained in an underwriting agreement; and

 

  

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(xvii)                  so long as any Registrable Securities remain outstanding, cause each Additional Guarantor upon the creation or acquisition by the Company of such Additional Guarantor, to execute a counterpart to this Agreement in the form attached hereto as Annex B and to deliver such counterpart to the Holders no later than five Business Days following the execution thereof.

 

(b)           The Company may require each Holder of Registrable Securities to furnish to the Company such information regarding such Holder and the proposed disposition by such Holder of such Registrable Securities as the Company and the Guarantors may from time to time reasonably request in writing.

 

(c)           Each Holder of Registrable Securities covered in the Shelf Registration Statement agrees that, upon receipt of any notice from the Company and the Guarantors of the happening of any event of the kind described in Section 3(a)(v)(3) or 3(a)(v)(5) hereof, such Holder will forthwith discontinue disposition of Registrable Securities pursuant to the Shelf Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 3(a)(ix) hereof and, if so directed by the Company and the Guarantors, such Holder will deliver to the Company and the Guarantors all copies in its possession, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities that is current at the time of receipt of such notice.

 

(d)           If the Company and the Guarantors shall give any notice to suspend the disposition of Registrable Securities pursuant to the Shelf Registration Statement, the Company and the Guarantors shall extend the period during which such Shelf Registration Statement shall be maintained effective pursuant to this Agreement by the number of days during the period from and including the date of the giving of such notice to and including the date when the Holders of such Registrable Securities shall have received copies of the supplemented or amended Prospectus necessary to resume such dispositions. The Company and the Guarantors may give any such notice only twice during any 365-day period and any such suspensions shall not exceed 30 days for each suspension and there shall not be more than two suspensions in effect during any 365-day period.

 

(e)           The Holders of Registrable Securities covered by the Shelf Registration Statement who desire to do so may sell such Registrable Securities in an Underwritten Offering.  In any such Underwritten Offering, the investment bank or investment banks and manager or managers (each an “Underwriter”) that will administer the offering will be selected by the Holders of a majority in principal amount of the Registrable Securities included in such offering.

 

4.           Tower Shelf Registration Statement.

 

(a)           Tower has entered into a registration rights agreement (the “Tower Registration Rights Agreement”) with the Holders as of the date hereof pursuant to which Tower agreed, among other things and subject to the terms and conditions of the Tower Registration Rights Agreement, to use its commercially reasonable efforts to cause to be filed and declared effective by the SEC a registration statement covering resale by the Holders of the Ordinary Shares issuable upon conversion of the Notes (the “Tower Shelf Registration Statement”), and to use its commercially reasonable efforts to keep such registration statement effective for the period set forth therein (the “Tower Shelf Effectiveness Period”).   In the event that the Tower Shelf Registration Statement does not become effective on or prior to the 121st day after the Closing Date, the per annum interest rate on the Notes will be increased by 1.00% or, in the case of Notes that have previously been converted into Ordinary Shares, pay an amount equal to 1.00% per annum on the aggregate principal amount of the Notes that were converted into Ordinary Shares, in each case until the Tower Shelf Registration Statement becomes effective or the Ordinary Shares issued upon conversion of the Notes become freely tradable under the Securities Act.

 

  

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(b)             If the Tower Shelf Registration Statement has become effective and thereafter either ceases to be effective or the Prospectus (as defined in the Tower Registration Rights Agreement) contained therein ceases to be usable, in each case whether or not permitted by the Tower Registration Rights Agreement, at any time during the Tower Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 30 days (whether or not consecutive) in any 12-month period, then the per annum interest rate on the Notes will be increased by 1.00% or, in the case of Notes that have previously been converted into Ordinary Shares, pay an amount equal to 1.00% per annum on the aggregate principal amount of the Notes that were converted into Ordinary Shares, in each case commencing on the 31st day in such 12-month period and ending on such date that the Tower Shelf Registration Statement has again become effective or the Prospectus (as defined in the Tower Registration Rights Agreement) again becomes usable.

 

(c)             Notwithstanding anything to the contrary contained herein, the per annum interest rate on the Registrable Securities shall not increase by more than 1.00% in respect of any and all failures by the Company to timely satisfy its obligations under this Agreement or by Tower to timely satisfy its obligations under the Tower Registration Rights Agreement.

 

(d)           This Section 4 shall remain in effect until there are no Notes outstanding and no Registrable Securities (as defined in the Tower Registration Rights Agreement) outstanding.

 

5.           Indemnification and Contribution.

 

(a)           The Company and the Guarantors, jointly and severally, agree to indemnify and hold harmless each Holder and their respective affiliates, directors and officers and each Person, if any, who controls any Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (1) any untrue statement or alleged untrue statement of a material fact contained in any Shelf Registration Statement or any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, or (2) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, any Free Writing Prospectus used in violation of this Agreement or any “issuer information” (“Issuer Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Holder furnished to the Company in writing through such selling Holder expressly for use therein.  In connection with any Underwritten Offering permitted by Section 3, the Company and the Guarantors, jointly and severally, will also indemnify the Underwriters, if any, selling brokers, dealers and similar securities industry professionals participating in the distribution, their respective affiliates and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders, if requested in connection with any Shelf Registration Statement, any Prospectus, any Free Writing Prospectus or any Issuer Information.

 

  

11

  

 

(b)           Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, the Guarantors, the other selling Holders, the directors of the Company and the Guarantors, each officer of the Company and the Guarantors who signed the Shelf Registration Statement and each Person, if any, who controls the Company, any Guarantor, and any other selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Holder furnished to the Company in writing by such Holder expressly for use in any Shelf Registration Statement and any Prospectus; provided, however, that the obligations of a Holder hereunder shall be limited to an amount equal to the net proceeds to such Holder of Registrable Securities sold in connection with such registration.

 

(c)           If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against any Person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person (the “Indemnified Person”) shall promptly notify the Person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under this Section 5 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under this Section 5.  If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred.  In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.  It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred.  Any such separate firm (x) for any Holder, its directors and officers and any control Persons of such Holder shall be designated in writing by the Majority Holders and (y) in all other cases shall be designated in writing by the Company.  The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment.  Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemni­fied Person in accordance with such request prior to the date of such settlement.  No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person.

 

  

12

  

 

(d)           If the indemnification provided for in paragraphs (a) and (b) above is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors, on the one hand, from the offering of the Registrable Securities and by the Holders, on the other hand, from receiving the Registrable Securities, or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and the Guarantors on the one hand and the Holders on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations.  The relative fault of the Company and the Guarantors on the one hand and the Holders on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company and the Guarantors or by the Holders and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

(e)           The Company, the Guarantors and the Holders agree that it would not be just and equitable if contribution pursuant to this Section 5 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d) above.  The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim.  Notwithstanding the provisions of this Section 5, in no event shall a Holder be required to contribute any amount in excess of the amount by which the total price at which the Registrable Securities sold by such Holder exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.  No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.  The Holders’ obligations to contribute pursuant to this Section 5 are several and not joint.

 

(f)           The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity.

 

(g)           The indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Holder or any Person controlling any Holder, or by or on behalf of the Company or the Guarantors or the officers or directors of or any Person controlling the Company or any Guarantor and (iii) any sale of Registrable Securities pursuant to a Shelf Registration Statement.

 

  

13

  

 

6.           General.

 

(a)           No Inconsistent Agreements.  The Company and the Guarantors represent, warrant and agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of any other outstanding securities issued or guaranteed by the Company or any Guarantor under any other agreement and (ii) neither the Company nor any Guarantor has entered into, or on or after the date of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof.

 

(b)           Amendments and Waivers.   The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company and the Guarantors have obtained the written consent of Holders of at least a majority in aggregate principal amount of the outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or consent; provided that no amendment, modification, supplement, waiver or consent to any departure from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder.  Any amendments, modifications, supplements, waivers or consents pursuant to this Section 6(b) shall be by a writing executed by each of the parties hereto.

 

(c)           Notices.  All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telex, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given by such Holder to the Company by means of a notice given in accordance with the provisions of this Section 6(c), which address initially is, with respect to the Exchanging Holders, the address set forth in the Exchange Agreement, and with respect to the New Money Holders, the address set forth in the Note Purchase Agreement; (ii) if to the Company or any Guarantor, initially at the Company’s address set forth in the Exchange Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c); and (iii) to such other persons at their respective addresses as provided in the Exchange Agreement and Note Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c).  All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt is acknowledged, if telecopied; and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery.  Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee, at the address specified in the Indenture.

 

(d)           Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that nothing herein shall be deemed to permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Exchange Agreement, the Note Purchase Agreement or the Indenture.  If any transferee of any Holder shall acquire Registrable Securities in any manner, whether by operation of law or otherwise, such Registrable Securities shall be held subject to all the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof.

 

(e)           Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

 

  

14

  

 

(f)           Headings.  The headings in this Agreement are for convenience of reference only, are not a part of this Agreement and shall not limit or otherwise affect the meaning hereof.

 

(g)           Governing Law.  This Agreement, and any claim, controversy or dispute arising under or related to this Agreement, shall be governed by and construed in accordance with the laws of the State of New York.

 

(h)           Entire Agreement; Severability.  This Agreement contains the entire agreement between the parties relating to the subject matter hereof and supersedes all oral statements and prior writings with respect thereto.  If any term, provision, covenant or restriction contained in this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated.  The Company, the Guarantors and the Holders shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid provisions the economic effect of which becomes as close as possible to that of the invalid, void or unenforceable provisions.

 

(i)           Independent Nature of Holders’ Obligations and Rights.  The obligations of each Holder under this Agreement are several and not joint or joint and several with the obligations of any other Holder, and no Holder shall be responsible in any way for the performance or non-performance of the obligations of any other Holder under this Agreement.  Nothing contained in this Agreement, and no action taken by any Holder pursuant hereto, shall be deemed to constitute the Holders as a partnership, an association, a joint venture or any other kind of group or entity, or create a presumption that the Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Agreement.  Each Holder shall be entitled to independently protect and enforce its rights, and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such purpose.

 

(j)           Obligations Limited. A copy of the Agreement and Declaration of Trust of each of Putnam Convertible Income-Growth Trust, Putnam High Yield Trust, Putnam High Yield Advantage Fund, Putnam High Income Securities Fund, Putnam Variable Trust, Putnam Asset Allocation Funds, and Putnam Funds Trust (each, a “Trust”) is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of each Trust as Trustees and not individually and that the obligations of or arising out of this instrument are not binding on any of the Trustees, officers or shareholders individually, but are binding only upon the trust property of each Trust. Furthermore, notice is given that the trust property of each series of Putnam Variable Trust, Putnam Asset Allocation Funds, and Putnam Funds Trust is separate and distinct and that the obligations of each such Trust under or arising out of this Agreement with respect to the series on behalf of which such Trust has executed this Agreement are separate and not joint or joint and several.

 

[Signature page follows]

 

  

15

  

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

 

	 	
JAZZ TECHNOLOGIES, INC.

 

By:  ___________________    

         Name:

         Title:

 

NEWPORT FAB, LLC

 

By:  ___________________        

         Name:

         Title:

JAZZ SEMICONDUCTOR, INC.

 

By:  ___________________        

         Name:

         Title:

 

[Signature Page to Registration Rights Agreement – Jazz]

 

  

  

  

 

Confirmed and accepted as of the date first above written:

 

PRINCIPAL GLOBAL OPPORTUNITIES SERIES PLC – PRINCIPAL SHORT DURATION HIGH YIELD

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

PGI CIT GLOBAL CREDIT OPPORTUNITIES FUND

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

PRINCIPAL GLOBAL CREDIT OPPORTUNITIES

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

[Signature Page to Registration Rights Agreement – Jazz]

  

  

  

EXPERT INVESTOR SICAV-SIF – ASTRUM FIXED INCOME GLOBAL CREDIT OPPORTUNITIES FUND

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

PRINCIPAL GLOBAL INVESTORS COLLECTIVE INVESTMENT TRUST – MULTI-SECTOR FIXED INCOME FUND

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

 

PGI CIT GLOBAL OPPORTUNITIES SERIES PLC – GLOBAL CREDIT ALPHA FUND

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

 

[Signature Page to Registration Rights Agreement – Jazz]

  

  

  

 

DAIWA PREMIUM TRUST – DAIWA/PRINCIPAL US SHORT DURATION HIGH YIELD BOND FUND

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

 

IOWA JUDICIAL RETIREMENT SYSTEM

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

MEIJER

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

[Signature Page to Registration Rights Agreement – Jazz]

  

  

  

 

PAINTING INDUSTRY ANNUITY FUND

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

 

PRINCIPAL FUNDS, INC. – BOND & MORTGAGE SECURITIES FUND

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

PRINCIPAL GLOBAL INVESTORS FUND – HIGH YIELD FUND

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

 

[Signature Page to Registration Rights Agreement – Jazz]

  

  

  

PRINCIPAL GLOBAL INVESTORS TRUST – HIGH YIELD FIXED INCOME FUND

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

PRINCIPAL LIFE INSURANCE COMPANY ON BEHALF OF ONE OR MORE SEPARATE ACCOUNTS (PRINCIPAL LIFE INSURANCE COMPANY, DBA BOND & MORTGAGE SEPARATE ACCOUNT)

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

PRINCIPAL LIFE INSURANCE COMPANY ON BEHALF OF ONE OR MORE SEPARATE ACCOUNTS (PRINCIPAL LIFE INSURANCE COMPANY, D/B/A PRINCIPAL LDI LONG DURATION SEPARATE ACCOUNT)

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

 

[Signature Page to Registration Rights Agreement – Jazz]

  

  

  

PRINCIPAL VARIABLE CONTRACT FUNDS, INC. BALANCED

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

PRINCIPAL VARIABLE CONTRACTS FUNDS, INC. – BOND & MORTGAGE SECURITIES ACCOUNT

	
By: Principal Global Investors, LLC,

	
       a Delaware limited liability company,

	
       its authorized signatory

By: __________________________________

Name:

Title:

By: __________________________________

Name:

Title:

PRINCIPAL FUNDS, INC. – HIGH YIELD FUND

By: __________________________________

Name:

Title:

 

[Signature Page to Registration Rights Agreement – Jazz]

  

  

  

	
PUTNAM VARIABLE TRUST – PUTNAM VT HIGH YIELD FUND

	
PUTNAM HIGH YIELD TRUST

	
PUTNAM HIGH YIELD ADVANTAGE FUND

	
PUTNAM DYNAMIC ASSET ALLOCATION GROWTH FUND

	
PUTNAM DYNAMIC ASSET ALLOCATION BALANCED FUND

	
PUTNAM VARIABLE TRUST – PUTNAM VT GLOBAL ASSET ALLOCATION FUND

	
PUTNAM DYNAMIC ASSET ALLOCATION CONSERVATIVE FUND

	
PUTNAM CONVERTIBLE SECURITIES FUND

	
PUTNAM HIGH INCOME SECURITIES FUND

	
PUTNAM RETIREMENT INCOME FUND LIFESTYLE 3

	 	
Each by:

	 	
Putnam Investment Management, LLC

	 	
By: _________________________________________________

Name:

Title:

A copy of the Agreement and Declaration of Trust of each above holder is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this Agreement is executed on behalf of the trustees of such holder as trustees and not individually and that the obligations of or arising out of this Agreement are not binding on any of the trustees, officers or shareholders individually of such holder, but are binding only upon the trust property of such holder. Furthermore, notice is given that the trust property of any series of the series trust applicable to such holder, if applicable, is separate and distinct and that the obligations of or arising out of this Agreement are several and not joint or joint and several and are binding only on the trust property of such holder with respect to its obligations under this confirmation.

 

[Signature Page to Registration Rights Agreement – Jazz]

  

  

  

SEASONS SERIES TRUST (SUN AMERICA) – ASSET ALLOCATION: DIVERSIFIED GROWTH PORTFOLIO

 

	
By:  Putnam Investment Management, LLC

	 	
By: _________________________________________________

Name:

Title:

PUTNAM RETIREMENT ADVANTAGE GAA GROWTH PORTFOLIO

PUTNAM RETIREMENT ADVANTAGE GAA BALANCED PORTFOLIO

 

    Each by:  Putnam Fiduciary Trust Company

	
    By: _________________________________________________

Name:

Title:

 

[Signature Page to Registration Rights Agreement – Jazz]

 

  

  

  

	
PUTNAM WORLD TRUST – PUTNAM GLOBAL HIGH YIELD BOND FUND

	
PUTNAM HIGH YIELD FIXED INCOME FUND, LLC

	
LGT MULTI MANAGER BOND HIGH YIELD (USD)

	
STICHTING BEWAARDER SYNTRUS ACHMEA GLOBAL HIGH YIELD POOL

	
STICHTING PENSIOENFONDS VOOR FYSIOTHERAPEUTEN

	
LGT MULTI MANAGER CONVERTIBLE BONDS PORTFOLIO

 

	
  

	
Each by:

	
  

	
The Putnam Advisory Company, LLC

	
     By: _________________________________________________

     Name:

     Title:

 

[Signature Page to Registration Rights Agreement – Jazz]

 

  

  

  

ROCKVIEW SHORT ALPHA FUND LTD.

By: ________________________________

Name:

Title:

ROCKVIEW TRADING LTD.

By: ________________________________

Name:

Title:

NORTHERN LIGHTS FUND TRUST – ALTEGRIS FIXED INCOME LONG SHORT FUND

By: ________________________________

Name:

Title:

 

[Signature Page to Registration Rights Agreement – Jazz]

 

  

  

  

 

BULWARKBAY CREDIT OPPORTUNITIES MASTER FUND LTD

By:  BulwarkBay Investment Group LLC, as its investment adviser

By: __________________________________

Name:  Joseph Canavan

Title: Chief Financial Officer

 

[Signature Page to Registration Rights Agreement – Jazz]

 

  

  

  

 

Schedule 1

 

Holders

 

	
Name and Address of Holder

	
 

Principal Global Opportunities Series PLC – Principal Short Duration High Yield

PGI CIT Global Credit Opportunities Fund

Principal Global Credit Opportunities

Expert Investor SICAV-SIF – Astrum Fixed Income Global Credit Opportunities Fund

Principal Global Investors Collective Investment Trust – Multi-Sector Fixed Income Fund

PGI CIT Global Opportunities Series Plc – Global Credit Alpha Fund

Daiwa Premium Trust – Daiwa/Principal US Short Duration High Yield Bond Fund

Iowa Judicial Retirement System

Meijer

Painting Industry Annuity Fund

Principal Funds, Inc. – Bond & Mortgage Securities Fund

Principal Global Investors Fund – High Yield Fund

Principal Global Investors Trust – High Yield Fixed Income Fund

Principal Life Insurance Company on behalf of one or more Separate Accounts (Principal Life Insurance Company, DBA Bond & Mortgage Separate Account)

Principal Life Insurance Company on behalf of one or more Separate Accounts (Principal Life Insurance Company, D/B/A Principal LDI Long Duration Separate Account)

Principal Variable Contract Funds, Inc. Balanced

Principal Variable Contract Funds, Inc. – Bond & Mortgage Securities Account

Principal Funds, Inc. – High Yield Fund

 

For all, see “Principal Notice Address” below

	
 

Putnam Variable Trust – Putnam VT High Yield Fund

Putnam High Yield Trust

Putnam High Yield Advantage Fund

Putnam Dynamic Asset Allocation Growth Fund

Putnam Dynamic Asset Allocation Balanced Fund

Putnam Variable Trust – Putnam VT Global Asset Allocation Fund

Putnam Dynamic Asset Allocation Conservative Fund

Putnam Convertible Securities Fund

Putnam High Income Securities Fund

Putnam Retirement Income Fund Lifestyle 3

Seasons Series Trust (Sun America) – Asset Allocation:  Diversified Growth Portfolio

Putnam Retirement Advantage GAA Growth Portfolio

Putnam Retirement Advantage GAA Balanced Portfolio

Putnam World Trust – Putnam Global High Yield Bond Fund

Putnam High Yield Fixed Income Fund, LLC

LGT Multi Manager Bond High Yield (USD)

Stichting Bewaarder Syntrus Achmea Global High Yield Pool

Stichting Pensioenfonds Voor Fysiotherapeuten

LGT Multi Manager Convertible Bonds Portfolio

 

  

- 1 -

  

 

 

	
For all:

 

c/o Putnam Investments

One Post Office Square

Boston, MA  02106

Attn:  General Counsel

Fax:  (617) 760-1625

	
RockView Short Alpha Fund Ltd.

RockView Trading Ltd.

Northern Lights Fund Trust – Altegris Fixed Income Long Short Fund

 

Notice Address:

RockView Management, LLC

Metro Center

One Station Place, 7th Floor

Stamford, CT  06902

Attn:  Alan Bluestine

 

Notice Address solely for Northern Lights Fund Trust – Altegris Fixed Income Long Short Fund:

Altegris Advisors, LLC

1200 Prospect Street, Suite 400

La Jolla, CA 92037

Attn: Beth Hancuff

	
 

BulwarkBay Credit Opportunities Master Fund Ltd.

 

Notice Address:

BulwarkBay Investment Group LLC

15 Broad Street, 4th Floor

Boston, MA 02109

Attn: Chief Financial Officer

Email: operations@bulwarkbay.com

Principal Notice Address:

	
Credit and Financials:

 

Eddie Vonnahme, CFA

Principal Global Investors, LLC

801 Grand Avenue G-26   

Des Moines, Iowa 50392-0800

Phone - 515-362-2018

Fax: 515-362-2326

vonnahme.eddie@principal.com

 

	
Credit and Financials:

 

Mark Denkinger

Principal Global Investors, LLC 

801 Grand Avenue G-26  

Des Moines, Iowa 50392-0800

Phone - 515-248-8016

Fax: 515-362-2326

Denkinger.Mark@principal.com

 

 

  

- 2 -

  

 

 

	
Administrative:

 

Principal Global Investors, LLC

801 Grand Avenue    

Des Moines, Iowa 50392-0960

Dierickx, Jody    

Phone: 515-247-5245

Dierickx.Jody@principal.com

FAX :  1-866-508-8946

dlgaminvacctbankloan@exchange.principal.com

	
Legal:

Sally D. Sorensen, Paralegal Analyst

Principal Life Insurance Company

711 High Street, G-7

Des Moines, Iowa 50392-0301

Phone:  (515) 247-6986

Fax:        (866) 496-6527

sorensen.sally.d@principal.com

  

- 3 -

  

Schedule  2

 

New Money Holders

 

	
(1) Name and Address of Holder

	
(2)Principal Amount of New Notes

	
(3) Purchase Price

	
Principal Funds, Inc. – High Yield Fund

Jurisdiction of Residency:  United States

CUSIP:  144A

DTC Participant: Bank of New York

DTC #901

For Credit to Account #: 394959

Contact: Monique Brown

(718) 315-3546

monique.brown@bnymellon.com

	
$9,000,000

	
$8,310,249.31

 

	
Principal Global Investors Fund – High Yield Fund

Jurisdiction of Residency:  United States

CUSIP:  144A

DTC Participant: Bank of New York

DTC #901

For Credit to Account #: 397775

Contact: Monique Brown

(718) 315-3546

monique.brown@bnymellon.com

	
$500,000

	
$461,680.52

	
Northern Lights Fund Trust – Altegris Fixed Income Short Long Fund

 

Jurisdiction of Residency:  United States

CUSIP:  144A

DTC Participant: JPMorgan Chase

DTC #: 902

For Credit To Account #: P18855

Contact: Alan Bluestine

(203) 388-4920

alanb@rvcap.com

	
$500,000

	
$461,680.52

  

- 1 -

  

ANNEX A

 

Jazz Technologies, Inc.

Form of Notice and Questionnaire

Jazz Technologies, Inc., a Delaware company (the “Company”), has filed with the Securities and Exchange Commission (the “Commission”) a registration statement on Form S-1 or S-3 (the “Shelf Registration Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of $______________ aggregate principal amount of its 8% Convertible Senior Notes due 2018 (the “Notes”), in accordance with the Registration Rights Agreement, dated as of March 25, 2014 (the “Registration Rights Agreement”), among the Company, the Guarantors and the holders named therein.  A copy of the Registration Rights Agreement is attached hereto.  All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement.

In order to have Registrable Securities included in the Shelf Registration Statement (or a supplement or amendment thereto), this Notice and Questionnaire (“Notice and Questionnaire”) must be completed, executed and delivered to the Company at the address set forth herein for receipt at least five Business Days prior to the anticipated effective date of the Shelf Registration Statement.  Beneficial owners of Registrable Securities who do not complete, execute and return this Notice and Questionnaire by such date (i) will not be named as selling securityholders in the Shelf Registration Statement and (ii) may not use the Prospectus forming a part thereof for resales of Registrable Securities.

Certain legal consequences arise from being named as a selling securityholder in the Shelf Registration Statement and related Prospectus.  Accordingly, holders and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling securityholder in the Shelf Registration Statement and related Prospectus.

The term “Registrable Securities” is defined in the Registration Rights Agreement to mean the Notes; provided that the Notes shall cease to be Registrable Securities (i) when a Shelf Registration Statement with respect to such Notes has become effective under the Securities Act and such Notes have been disposed of pursuant to such Shelf Registration Statement, (ii) such Notes have been sold pursuant to Rule 144, (iii) such Notes are eligible to be sold pursuant to Rule 144 (or any similar provision then in force, but not Rule 144A) under the Securities Act and the holding period contemplated by Rule 144(d)(ii) has passed and such Notes may be freely sold without compliance with the volume or manner of sale requirements of Rule 144 pursuant to Rule 144(b)(1) (or such Notes may otherwise be resold under any similar provision allowing the resale of such shares without restriction), and in any instance covered by this clause (iii) the Company shall have notified the Trustee that such Notes need not bear any restrictive legend and instructed the Trustee to remove any such legend and associated stop transfer instructions or (iv) when such Notes cease to be outstanding.

 

  

  

  

 

ELECTION

The undersigned holder (the “Selling Securityholder”) of Registrable Securities hereby elects to include in the Shelf Registration Statement the Registrable Securities beneficially owned by it and listed below in Item (3).  The undersigned, by signing and returning this Notice and Questionnaire, agrees to be bound with respect to such Registrable Securities by the terms and conditions of this Notice and Questionnaire and the Registration Rights Agreement, including, without limitation, Section 5 of the Registration Rights Agreement, as if the undersigned Selling Securityholder were an original party thereto.

The Selling Securityholder hereby provides the following information to the Company and represents and warrants that such information is true, accurate and complete:

 

QUESTIONNAIRE

 

	
1. 

	
(a)

	
Full Legal Name of Selling Securityholder:

 

	
  

	
 

(b)

	
 

Full Legal Name of Registered Holder (if not the same as in (a) above) of Registrable Securities Listed in Item (3) below:

 

	
  

	
 

(c)

	
 

Full Legal Name of DTC Participant (if applicable and if not the same as (b) above) through which Registrable Securities Listed in Item (3) below are Held:

 

	
  

	
 

(d)

	
 

Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly alone or with others has power to vote or dispose of the Registrable Securities listed in Item (3) below):

 

 

2.     Address for Notices to Selling Securityholder:

 

	 	 
	 	 
	Telephone: 	 
	
Fax:    

	 
	Contact Person:	 

 

3.      Beneficial Ownership of Securities:

Note:   For clarification, a beneficial owner of a security is any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares (i) voting power, including the power to vote, or to direct the voting of, such security; and/or, (ii) investment power which includes the power to dispose, or to direct the disposition of, such security.  Include in your responses below, those Notes or Ordinary Shares issuable upon exercise of the Notes which you have the right to acquire beneficial ownership of within 60 days.

  

  

  

Except as set forth below in this Item (3), the undersigned Selling Securityholder does not beneficially own any Notes or Ordinary Shares issuable upon exercise of the Notes.

 

	
  

	
(a)

	
Amount and type of Registrable Securities beneficially owned:

 

CUSIP No(s). of such Registrable Securities:

 

	
  

	
 

(b)

	
 

Amount of Notes or Ordinary Shares issuable upon exercise of the Notes other than Registrable Securities beneficially owned:

 

CUSIP No(s). of such other Notes and Ordinary Shares:

 

	
  

	
 

(c)

	
 

Amount and type of Registrable Securities which the undersigned wishes to be included in the Shelf Registration Statement:

 

CUSIP No(s). of such Registrable Securities to be included in the Shelf Registration Statement:

	
  

	
 

	 

 

4.      Broker-Dealer Status:

 

	
  

	
(a)

	
Are you a broker-dealer?

Yes o                     No o

 

If “yes” to Item 4(a), did you receive your Registrable Securities as compensation for investment banking services to the Company?

Yes o                     No o

Note: If yes, the Commission's staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

	
  

	
(b)

	Are you an affiliate of a broker-dealer?

 

Yes o                     No o

 

	
  

	
(c)

	
If you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements or understandings, directly or indirectly, with any person to distribute the Registrable Securities?

Yes o                     No o

Note: If no, the Commission's staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

  

  

  

 

5.      Relationships with the Company:

Except as set forth below, neither the Selling Securityholder nor any of its affiliates, officers, directors or principal equity holders (5% or more) has held any position or office or has had any other material relationship with the company (or its predecessors or affiliates) during the past three years.

State any exceptions here:

 

	

 

	

 

 

	

 

	

 

6.      Plan of Distribution:

Except as set forth below, the undersigned Selling Securityholder intends to distribute the Registrable Securities listed above in Item (3) only as follows (if at all): Such Registrable Securities may be sold from time to time directly by the undersigned Selling Securityholder or, alternatively, through underwriters, broker-dealers or agents.  Such Registrable Securities may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of sale, at varying prices determined at the time of sale, or at negotiated prices.  Such sales may be effected in transactions (which may involve crosses or block transactions) (i) on any national securities exchange or quotation service on which the Registrable Securities may be listed or quoted at the time of sale, (ii) in the over-the-counter market, (iii) in transactions otherwise than on such exchanges or services or in the over-the-counter market, or (iv) through the writing of options.  In connection with sales of the Registrable Securities or otherwise, the Selling Securityholder may enter into hedging transactions with broker-dealers, which may in turn engage in short sales of the Registrable Securities in the course of hedging the positions they assume.  The Selling Securityholder may also sell Registrable Securities short and deliver Registrable Securities to close out such short positions, or loan or pledge Registrable Securities to broker- dealers that in turn may sell such securities.

State any exceptions here:

 

	

 

	

 

 

	

 

	

 

Note: In no event may such method(s) of distribution take the form of an underwritten offering of the Registrable Securities without the prior agreement of the Company.

 

7.      Short Stock Position:

 

	
  

	
(a)

	
Does the above-named Selling Securityholder have an existing short position in the Company’s Ordinary Shares?

 

Yes o                     No o

 

	
  

	
(b)

	
If the answer to Item (7)(a) above is “yes,” state the amount of such short position and the date on which the above-named Selling Securityholder entered into such short position?

 

 

	
  

	
(c)

	
If the answer to Item (7)(a) above is “yes,” does the above-named Selling Securityholder have an existing long position in the Company’s Ordinary Shares?

Yes o                     No o

 

	
  

	
(d)

	
If the answer to Item (7)(c) above is “yes,” state the amount of such long position:

 

 

 

 

 

By signing below, the Selling Securityholder acknowledges that it understands its obligation to comply, and agrees that it will comply, with the prospectus delivery and other provisions of the Securities Act and the Exchange Act and the rules and regulations thereunder, particularly Regulation M.

In the event that the Selling Securityholder transfers all or any portion of the Registrable Securities listed in Item (3) above after the date on which such information is provided to the Company, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights and obligations under this Notice and Questionnaire and the Registration Rights Agreement.

By signing below, the Selling Securityholder consents to the disclosure of the information contained herein in its answers to Items (1) through (7) above and the inclusion of such information in the Shelf Registration Statement and related Prospectus.  The Selling Securityholder understands that such information will be relied upon by the Company in connection with the preparation of the Shelf Registration Statement and related Prospectus.

In accordance with the Selling Securityholder’s obligation under Section 2(e) of the Registration Rights Agreement to provide such information as may be required by law for inclusion in the Shelf Registration Statement, the Selling Securityholder agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein which may occur subsequent to the date hereof at any time while the Shelf Registration Statement remains in effect.  All notices hereunder and pursuant to the Registration Rights Agreement shall be made in writing, by hand-delivery, first-class mail, or air courier guaranteeing overnight delivery to the Company as follows:

 

Jazz Technologies, Inc.

4321 Jamboree Road

Newport Beach, California 92660

Attention: Chief Legal Officer

Facsimile: (949) 315-3811

Once this Notice and Questionnaire is executed by the Selling Securityholder and received by the Company, the terms of this Notice and Questionnaire, and the representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by the respective successors, heirs, personal representatives, and assigns of the Company and the Selling Securityholder (with respect to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item (3) above).  This Agreement shall be governed in all respects by the laws of the State of New York.

 

  

  

  

 

IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or by its duly authorized agent.

 

Dated:  __________________                                                               

 

	 

Selling Securityholder

(Print/type full legal name of beneficial owner of Registrable Securities)

	
By: 

	
 

	
Name: 

	
 

	
Title: 

	
 

 

PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE

FOR RECEIPT TO THE COMPANY AT:

 

Jazz Technologies, Inc.

4321 Jamboree Road

Newport Beach, California 92660

Attention: Chief Legal Officer

Facsimile: (949) 315-3811

  

  

  

 

ANNEX B

 

Counterpart to Registration Rights Agreement

 

The undersigned hereby absolutely, unconditionally and irrevocably agrees as a Guarantor (as defined in the Registration Rights Agreement, dated as of March 25, 2014 by and among Jazz Technologies, Inc., a Delaware corporation, the guarantors party thereto and the Holders to be bound by the terms and provisions of such Registration Rights Agreement.

 

IN WITNESS WHEREOF, the undersigned has executed this counterpart as of [          ], 20__.

 

	 	
[NAME]

 

By: _________________________________        

        Name:

        Title:Eleventh Supplemental Indenture

 Exhibit 4.27 
  

 
  

TAMPA ELECTRIC COMPANY 
 and 

THE BANK OF NEW YORK MELLON, 
 As
Trustee 
  
  

ELEVENTH SUPPLEMENTAL INDENTURE 

dated as of May 12, 2014 

Supplementing the Indenture 
 dated
as of July 1, 1998 
  
  

4.35% Notes Due 2044 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 ARTICLE ONE
	 	 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	2	  
			
	 Section 1.01.
	 	 Definitions
	  	 	2	  
	 Section 1.02.
	 	 Section References
	  	 	3	  
			
	 ARTICLE TWO
	 	 DESIGNATION AND TERMS OF THE NOTES
	  	 	3	  
			
	 Section 2.01.
	 	 Establishment of Series
	  	 	3	  
	 Section 2.02.
	 	 Variations in Terms of the Notes
	  	 	4	  
	 Section 2.03.
	 	 Amount and Denominations; the Depositary
	  	 	4	  
	 Section 2.04.
	 	 Stated Maturity
	  	 	4	  
	 Section 2.05.
	 	 Interest Rates and Interest Payment Dates
	  	 	4	  
	 Section 2.06.
	 	 Form and Other Terms of the Notes
	  	 	5	  
	 Section 2.07.
	 	 Authentication and Delivery
	  	 	5	  
	 Section 2.08.
	 	 Redemption; No Sinking Fund
	  	 	5	  
			
	 ARTICLE THREE
	 	 MISCELLANEOUS
	  	 	6	  
			
	 Section 3.01.
	 	 Effect On Original Indenture
	  	 	6	  
	 Section 3.02.
	 	 Counterparts
	  	 	6	  
	 Section 3.03.
	 	 Recitals
	  	 	6	  
	 Section 3.04.
	 	 Governing Law
	  	 	6	  
	 Section 3.05.
	 	 Force Majeure
	  	 	6	  
	 Section 3.06.
	 	 Waiver of Jury Trial
	  	 	7	  
	 Section 3.07.
	 	 Damages
	  	 	7	  
			
	 EXHIBIT A
	 	 FORM OF NOTE
	  	 	A-1	  
			
	 EXHIBIT B
	 	 FORM OF SUPPLEMENTAL COMPANY ORDER
	  	 	B-1	  

 This Eleventh Supplemental Indenture, dated as of May 12, 2014, is between Tampa Electric
Company, a corporation duly organized and existing under the laws of the State of Florida (hereinafter called the “Company”) and having its principal office at TECO Plaza, 702 North Franklin Street, Tampa, Florida 33602, and The
Bank of New York Mellon, as trustee (hereinafter called the “Trustee”), and having its principal corporate trust office at 101 Barclay Street, 7 West, New York, New York 10286. 

WITNESSETH: 
 WHEREAS, the
Company and the Trustee entered into an Indenture, dated as of July 1, 1998, as amended by a Third Supplemental Indenture, dated as of June 15, 2001, as further amended by the Tenth Supplemental Indenture, dated as of September 19,
2012, between the Company and the Trustee (the “Original Indenture”), pursuant to which one or more series of debt of the Company (the “Securities”) may be issued from time to time; and 

WHEREAS, Section 201 of the Original Indenture permits the terms of any series of Securities to be established in an indenture
supplemental to the Original Indenture; and 
 WHEREAS, Section 901(7) of the Original Indenture provides that a supplemental indenture
may be entered into by the Company and the Trustee without the consent of any Holders of the Securities to establish the form and terms of the Securities of any series; and 

WHEREAS, the Company has requested the Trustee to join with it in the execution and delivery of this Eleventh Supplemental Indenture in order
to supplement and amend the Original Indenture by, among other things, establishing the form and terms of a series of Securities to be known as the Company’s “4.35% Notes due 2044” (the “Notes”); and 

WHEREAS, the Company and the Trustee desire to enter into this Eleventh Supplemental Indenture for the purposes set forth in Sections 201
and 901 of the Original Indenture as referred to above; and 
 WHEREAS, the Company has furnished the Trustee with a Board Resolution
authorizing the execution of this Eleventh Supplemental Indenture; and 
 WHEREAS, all things necessary to make this Eleventh Supplemental
Indenture a valid agreement of the Company and the Trustee and a valid supplement to the Original Indenture have been done, 
 NOW,
THEREFORE, THIS ELEVENTH SUPPLEMENTAL INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Notes to be
issued hereunder by Holders thereof, the Company and the Trustee mutually covenant and agree, for the equal and proportionate benefit of the respective Holders from time to time of the Notes, as follows: 

 ARTICLE ONE 

Definitions and Other Provisions of General Application 

Section 1.01. Definitions 

All capitalized terms that are used herein and not otherwise defined herein shall have the meanings assigned to them in the Original
Indenture. The Original Indenture together with this Eleventh Supplemental Indenture are hereinafter sometimes collectively referred to as the “Indenture.” As used in this Eleventh Supplemental Indenture, the following capitalized
terms shall have the following respective meanings: 
 “Business Day” means any day other than (i) a Saturday or
Sunday that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulations to close in the City of New York, or (ii) a day on which the Corporate Trust Office of the Trustee is closed for
business. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment
Banker as having a maturity comparable to the remaining term of the Notes to be redeemed that would be used, 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 such Notes; provided, however, that if the remaining term of the Notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted
to a constant maturity of one year will be used. 
 “Comparable Treasury Price” means with respect to any redemption date
(1) the average of five Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if an Independent Investment Banker obtains fewer than five such
Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Depositary” means The Depository Trust
Company or its successor. 
 “Independent Investment Banker” means BNY Mellon Capital Markets, LLC, Mitsubishi UFJ
Securities (USA), Inc., RBC Capital Markets, LLC, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC or any of their respective successors, as designated by the Company, or if all of those firms are unwilling or unable to serve as
such, an independent investment and banking institution of national standing appointed by the Company. 
 “Interest Payment
Date” means May 15 and November 15 of each year. 
 “Notes” has the meaning set forth in the preamble
hereof. 
 “Original Issue Date” means the date upon which the Notes are initially issued by the Company, such date to be
set forth on the face of each Note. 

  
 2 

 “Person” means any individual, corporation, partnership, limited liability
company, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision of any government. 

“Record Date” means the fifteenth calendar day (whether or not a Business Day) immediately preceding the related Interest
Payment Date. The Record Date shall constitute the Regular Record Date for purposes of the Original Indenture. 
 “Reference
Treasury Dealer” means a Primary Treasury Dealer (as defined below) selected by BNY Mellon Capital Markets, LLC, a Primary Treasury Dealer (as defined below) selected by Mitsubishi UFJ Securities (USA), Inc., RBC Capital Markets, LLC, a
Primary Treasury Dealer (as defined below) selected by SunTrust Robinson Humphrey, Inc., and a Primary Treasury Dealer (as defined below) selected by Wells Fargo Securities, LLC, or their affiliates and each of their respective successors; provided
that if any such Reference Treasury Dealer ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by an 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 an Independent Investment Banker at 3:30
p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury Rate” means, as of any
redemption date, the rate per annum equal to the semiannual equivalent yield to maturity (computed as of the second Business Day immediately preceding that 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 Comparable Treasury Price for that redemption date. 

Section 1.02. Section References 

Each reference to a particular section set forth in this Eleventh Supplemental Indenture shall, unless the context otherwise requires, refer
to this Eleventh Supplemental Indenture. 
 ARTICLE TWO 

Designation and Terms of the Notes 

Section 2.01. Establishment of Series 

There is hereby created a series of Securities to be known and designated as the “4.35% Notes Due 2044”, which shall rank equally
with each other and all other unsecured and unsubordinated indebtedness of the Company. For the purposes of the Original Indenture, the Notes shall constitute a single series of Securities. 

  
 3 

 Section 2.02. Variations in Terms of the Notes 

Subject to the terms and conditions set forth in the Original Indenture and in this Eleventh Supplemental Indenture, the terms of any
particular Note may vary from the terms of any other Note as contemplated by Section 301 of the Original Indenture, and the terms for a particular Note will be set forth in such Note as delivered to the Trustee or an Authenticating Agent for
authentication pursuant to Section 303 of the Original Indenture. 
 Section 2.03. Amount and Denominations; the Depositary

 (a) The initial principal amount of Notes that may be issued under this Eleventh Supplemental Indenture shall be $300,000,000.
Additional Notes may be issued under this Eleventh Supplemental Indenture in unlimited principal amounts as permitted by the Original Indenture. The authorized denominations of Notes shall be $1,000 or integral multiples of $1,000 in excess thereof.

 (b) The Notes shall be issuable only in fully registered form, without coupons, and will initially be registered in the name of the
Depositary, or its nominee who is hereby designated as “U.S. Depositary” under the Original Indenture. 
 Section 2.04.
Stated Maturity 
 The Stated Maturity of the principal amount of the Notes shall be May 15, 2044. 

Section 2.05. Interest Rates and Interest Payment Dates 

(a) Interest Rate. The Notes shall bear interest at the annual rate of 4.35% from the Original Issue Date to the date on which the
principal shall become due on the Stated Maturity, and if such principal is not fully paid on the Stated Maturity, until such principal is paid in full. Interest on the Notes will be payable semi-annually on each Interest Payment Date, commencing on
November 15, 2014. Such interest will be payable to the Holder thereof as of the related Record Date. 
 (b) Computation of
Interest. The amount of interest payable for any period will be computed on the basis of a year of 360 days consisting of twelve 30-day months. Except for the effect of any adjustment in the Interest Payment Date as provided in the
following sentence, the amount of interest payable for any period shorter than a full six-month period for which interest is computed, will be computed on the basis of the actual number of days elapsed in such
a 180-day period. If any Interest Payment Date would otherwise be a day that is not a Business Day, the payment required to be made on such Interest Payment Date will be postponed to the next succeeding
Business Day, and no interest will accrue on such payment for the period from and after such Interest Payment Date to the date of such payment on the next succeeding Business Day, except that, if such Business Day is in the next succeeding calendar
year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such Interest Payment Date. 

  
 4 

 Section 2.06. Form and Other Terms of the Notes 

(a) Attached hereto as Exhibit A is the form of Note, which form is hereby established as the form in which the Notes may be issued and
which shall be completed with the series designation, Stated Maturity, interest rate and CUSIP number applicable to the Notes upon such issuance. 

(b) Subject to (a) above, any Note may be issued in such other form as may be provided by, or not inconsistent with, the terms of the
Original Indenture and this Eleventh Supplemental Indenture. 
 Section 2.07. Authentication and Delivery 

As provided in and pursuant to Section 303 of the Original Indenture, each time that the Company delivers Notes to the Trustee or
Authenticating Agent for authentication after the initial issuance of Notes under this Eleventh Supplemental Indenture, the Company shall deliver a Supplemental Company Order in the form of Exhibit B to this Eleventh Supplemental
Indenture (which form shall be completed upon delivery with the series designation applicable to the Notes) for the authentication and delivery of such Notes and the Trustee or such Authenticating Agent shall authenticate and deliver such Notes.

 Section 2.08. Redemption; No Sinking Fund 

(a) Prior to November 15, 2043, the Notes are subject to redemption, in whole or in part, at any time, at the option of the Company, at a
redemption price equal to the greater of: 
 (i) 100% of the principal amount of Notes then outstanding to be redeemed, or

 (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes then
outstanding to be redeemed (not including any portion of such payments of interest accrued as of the redemption date) discounted to the redemption date on a semiannual basis (computed based on a 360-day year consisting of twelve 30-day months) at
the Treasury Rate, plus 15 basis points (0.15%), as calculated by an Independent Investment Banker, 
 plus, in either of the above cases, accrued and
unpaid interest thereon to the redemption date. From and after November 15, 2043, the Notes are subject to redemption in whole or in part at the option of the Company at a redemption price equal to 100% of the principal amount of Notes then
outstanding to be redeemed plus accrued and unpaid interest thereon to the redemption date. 
 (b) The Company will deliver a notice of
redemption at least 30 days but no more than 60 days before the redemption date to each Holder of Notes to be redeemed. If the Company elects to partially redeem the Notes, the Trustee will select in a fair and appropriate manner the Notes to be
redeemed (or, in the case of Notes held in global form, the Depositary will select the Notes to be redeemed in accordance with its standard procedures). 

  
 5 

 (c) 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 thereof called for redemption. 
 (d) The Notes are not entitled to the benefit
of any sinking fund or analogous provision. 
 ARTICLE THREE 

Miscellaneous 

Section 3.01. Effect On Original Indenture 

The Eleventh Supplemental Indenture is a supplement to the Original Indenture. As supplemented by this Eleventh Supplemental Indenture, the
Original Indenture is in all respects ratified, approved and confirmed, and the Original Indenture and this Eleventh Supplemental Indenture shall together constitute one and the same instrument. 

Section 3.02. Counterparts 

This Eleventh Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute one and the same instrument. 
 Section 3.03. Recitals 

The recitals contained herein shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their
correctness. The Trustee makes no representations as to the validity or sufficiency of this Eleventh Supplemental Indenture. 

Section 3.04. Governing Law 

This Eleventh Supplemental Indenture shall be governed by and construed in accordance with the laws of the jurisdiction that govern the
Original Indenture and its construction. 
 Section 3.05. Force Majeure 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of
or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to
resume performance as soon as practicable under the circumstances. 

  
 6 

 Section 3.06. Waiver of Jury Trial 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY 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 THIS INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY. 

Section 3.07. Damages 

In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever
(including, but not limited to, loss or profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

[The balance of this page intentionally left blank.] 

  
 7 

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

					
	TAMPA ELECTRIC COMPANY
		
	By:	 	 /s/ Kim M. Caruso

		 	Name:	 	Kim M. Caruso
		 	Title:	 	Treasurer
	
	THE BANK OF NEW YORK MELLON, AS TRUSTEE
		
	By:	 	 /s/ Laurence J. O’Brien

		 	Name:	 	Laurence J. O’Brien
		 	Title:	 	Vice President

 Signature Page to Eleventh Supplemental Indenture 

 EXHIBIT A 

FORM OF NOTE 
  

			
	CUSIP NO.:                     	  	PRINCIPAL AMOUNT: $        
	REGISTERED NO.     	  	

 TAMPA ELECTRIC COMPANY 

4.35% Notes Due 2044 
  

			
	x	 	Check this box if the Note is a Global Note.
		 	Applicable if the Note is a Global Note:

 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION, TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 This
Note is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of Cede & Co., or such other nominee of The Depository Trust Company, a New York corporation, or any successor depositary
(“Depositary”), as requested by an authorized representative of the Depositary. This Note is exchangeable for Notes registered in the name of a person other than the Depositary or its nominee only in the limited circumstances
described in the Indenture and may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary. 

 
  

 

					
	 ORIGINAL ISSUE DATE:
  

ISSUE PRICE: 99.933% (as a percentage of principal amount)

STATED MATURITY: May 15, 2044
 INTEREST RATE:
4.35% per annum.
	 	 INTEREST PAYMENT DATES: May 15 and November 15 of each year commencing November 15, 2014.

SPECIFIED CURRENCY: U.S. dollars
 AUTHORIZED
DENOMINATIONS: N/A (Only applicable if specified currency is other than U.S. dollars)
	 	 SINKING FUND: None
 YIELD TO
MATURITY: N/A
 REDEMPTION: Redeemable in whole or in part, at the Company’s option, from time to time at the redemption prices
described on the reverse of this Note.
 DEPOSITARY: The Depository Trust Company, or any successor depository.

  
 A-1 

 TAMPA ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
Florida (herein called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the
principal sum set forth on the face of this Note on the Stated Maturity, upon the presentation and surrender hereof at the principal corporate trust office of The Bank of New York Mellon, or its successor in trust (the “Trustee”),
or such other office as the Trustee has designated in writing, and to pay interest on the unpaid principal balance hereof at a rate per annum (computed based on a 360-day year consisting of twelve 30-day months) equal to the Interest Rate set forth
on the face of this Note for the period from the Original Issue Date to, but excluding, the Stated Maturity. 
 Interest will be payable on
the Interest Payment Dates to the Person in whose name this Note is registered at the close of business on the related Record Date, which is the fifteenth calendar day (whether or not a Business Day) immediately preceding the related Interest
Payment Date. In each case, payments shall be made in accordance with the provisions hereof, until the principal hereof is paid or duly made available for payment. 

Payment of the principal of (and premium, if any) and any such interest on this Note shall be made in immediately available funds at the
office or agency of the Company maintained for that purpose in the City of New York in the State of New York, 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.

 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if 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 benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-2 

 IN WITNESS WHEREOF, TAMPA ELECTRIC COMPANY has caused this instrument to be duly executed. 

Dated:             , 2014 

 

									
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION	 		 	TAMPA ELECTRIC COMPANY
	This is one of the series designated therein referred to in the	 		 		 	
	within-mentioned Indenture.	 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	
				
	 THE BANK OF NEW YORK MELLON,
 as
Trustee
	 		 		 	
					
	By:	 	  
	 		 		 	
		 	Authorized signatory	 		 		 	

  
 A-3 

 (REVERSE OF NOTE) 

TAMPA ELECTRIC COMPANY 

4.35% Notes Due 2044 
 This Note
is one of a duly authorized series of securities of the Company (herein called the “Notes”), issued and to be issued under an Indenture dated as of July 1, 1998, as amended, and as supplemented by the Eleventh Supplemental
Indenture, dated as of May 12, 2014 (as such has been or shall be amended or supplemented, the “Indenture”), between the Company and The Bank of New York Mellon, as trustee (the “Trustee”, which term includes
any successor Trustee under the Indenture), to which Indenture reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of
the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the securities of the series designated on the face hereof. 

DEFINITIONS 
 The
following terms, as used herein, have the following meanings unless the context or use clearly indicates another or different meaning or intent: 

“Business Day” means any day other than (i) a Saturday or Sunday that is neither a legal holiday nor a day on which
banking institutions are authorized or required by law or regulations to close in the City of New York, or (ii) a day on which the Corporate Trust Office of the Trustee is closed for business. 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having
a maturity comparable to the remaining term of the Notes to be redeemed that would be used, 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 such Notes; provided, however, that if the remaining term of the Notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant
maturity of one year will be used. 
 “Comparable Treasury Price” means with respect to any redemption date (1) the
average of five Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if an Independent Investment Banker obtains fewer than five such Reference
Treasury Dealer Quotations, the average of all such quotations. 
 “Depositary” shall mean The Depository Trust Company or
any successor depositary. 
 “Independent Investment Banker” means BNY Mellon Capital Markets, LLC, Mitsubishi UFJ
Securities (USA), Inc., RBC Capital Markets, LLC, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC or any of their respective successors, as designated by the Company, or if all of those firms are unwilling or unable to serve as
such, an independent investment and banking institution of national standing appointed by the Company. 

  
 A-4 

 “Interest Payment Date” means each of the dates on which interest on this Note
is payable, which dates are set forth on the face of this Note. 
 “Reference Treasury Dealer” means a Primary Treasury
Dealer (as defined below) selected by BNY Mellon Capital Markets, LLC, a Primary Treasury Dealer (as defined below) selected by Mitsubishi UFJ Securities (USA), Inc., RBC Capital Markets, LLC, a Primary Treasury Dealer (as defined below) selected by
SunTrust Robinson Humphrey, Inc., and a Primary Treasury Dealer (as defined below) selected by Wells Fargo Securities, LLC, or their affiliates and each of their respective successors; provided that if any such Reference Treasury Dealer ceases to be
a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by an 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 an Independent Investment Banker at 3:30
p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury Rate” means, as of any
redemption date, the rate per annum equal to the semiannual equivalent yield to maturity (computed as of the second Business Day immediately preceding that 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 Comparable Treasury Price for that redemption date. 

INTEREST RATE 
 This Note
will bear interest at the rate per annum (computed based on a 360-day year consisting of twelve 30-day months) identified on the face of this Note. Except for the effect of any adjustment in the Interest Payment Date as provided in the following
sentence, the amount of interest payable for any period shorter than a full six-month period for which interest is computed, will be computed on the basis of the actual number of days elapsed in such a 180-day period. If any Interest Payment Date would otherwise be a day that is not a Business Day, the payment required to be made on such Interest Payment Date will be postponed to the next succeeding Business Day,
and no interest will accrue on such payment for the period from and after such Interest Payment Date to the date of such payment on the next succeeding Business Day, except that, if such Business Day is in the next succeeding calendar year, such
payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such Interest Payment Date. 

OPTIONAL REDEMPTION 

Prior to November 15, 2043, the Notes are subject to redemption, in whole or in part, at any time, at the option of the Company, at a
redemption price equal to the greater of: 
 (i) 100% of the principal amount of the Notes then outstanding to be redeemed,
or 
 (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes then
outstanding to be redeemed (not including any portion of such payments of interest accrued as of the redemption date) discounted to the redemption date on a semiannual basis (computed based on a 360-day year consisting of twelve 30-day months) at
the Treasury Rate, plus 15 basis points (0.15%), as calculated by an Independent Investment Banker, 

  
 A-5 

 plus, in either of the above cases, accrued and unpaid interest thereon to the redemption date. From and after
November 15, 2043, the Notes are subject to redemption in whole or in part at the option of the Company at a redemption price equal to 100% of the principal amount of Notes then outstanding to be redeemed plus accrued and unpaid interest
thereon to the redemption date. 
 The Company will deliver a notice of redemption at least 30 days but no more than 60 days before the
redemption date to each Holder of the Notes to be redeemed. If the Company elects to partially redeem the Notes, the Trustee will select in a fair and appropriate manner the Notes to be redeemed (or, in the case of Notes held in global form, the
Depositary will select the Notes to be redeemed in accordance with its standard procedures). 
 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 thereof called for redemption. 

The Notes are not entitled to the benefit of any sinking fund or analogous provision. 

TRANSFER OR EXCHANGE 
 As
provided in the Indenture and subject to certain limitations herein and therein set forth, the transfer of this Note is registerable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the
Company in any place where the principal of (and premium, if any) and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly
executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees. 
 The Notes are issuable only in registered form without coupons and, except for such Notes issued in
book-entry form, only in denominations of $1,000 and any integral multiple of $1,000. As provided in the Indenture and subject to certain limitations herein and therein set forth, this Note is exchangeable for a like aggregate principal amount of
Notes of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 No
service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

  
 A-6 

 Prior to due presentment of this Note for registration of transfer, the Company or the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary. 
 OTHER PROVISIONS 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected and of the Holders of 66 2/3% in principal amount of the Securities at the time Outstanding of all series to be affected. The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. To the extent permitted by law, any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and 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 notation of such consent or waiver is made upon this Note. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

All terms used in this Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

This Note shall be governed by and construed in accordance with the laws of the State of New York. 

  
 A-7 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

													
	TEN COM	 	—	 	as tenants in common	 	UNIF GIFT MIN ACT—	 	
                     

	 	CUSTODIAN	 	
                     

	TEN ENT	 	—	 	as tenants by the entireties	 	(Cust)	 		 	(Minor)
	JT TEN	 	—	 	as joint tenants with right of survivorship Under Uniform Gifts to Minors Act	 	
		 		 	and not as tenants in common
                                         
                   	 		 		 	
		 		 	                                    
                                    (State)	 		 		 	

 Additional abbreviations may also be used though not in the above list. 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

 

			
	 Please Insert Social Security or
 Other
Identifying Number of Assignee
	 	
	 	 	
	 	 	

  
  

 
 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS
INCLUDING POSTAL ZIP CODE OF ASSIGNEE 
  
  

 
  

the within Security of TAMPA ELECTRIC COMPANY and does hereby irrevocably constitute and appoint
                                        
attorney to transfer said Security on the books of the Company, with full power of substitution in the premises. 
  

									
	Dated:	 	  
	 		 	  
	 	
					
		 		 		 	  
	 	

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in
every particular, without alteration or enlargement or any change whatsoever. 

  
 A-8 

 EXHIBIT B 

FORM OF SUPPLEMENTAL COMPANY ORDER 

TAMPA ELECTRIC COMPANY 
 4.35%
NOTES DUE 2044 
 SUPPLEMENTAL COMPANY ORDER 

Pursuant to Section 2.07 of Article Two of the Eleventh Supplemental Indenture, dated as of May 12, 2014, to the Indenture, dated as
of July 1, 1998, as amended, you are instructed to authenticate a Note, of the series identified above, in the principal amount of $            . 

IN WITNESS WHEREOF, I have hereunto set my hand this      day of
            , 20    . 
  

			
	TAMPA ELECTRIC COMPANY
		
	By:	 	  

		 	Name:
		 	Title:

  
 B-1

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