Document:

EX-4.1

 Exhibit 4.1 
  

 
 INDENTURE 

Dated as of                     , 2014 

Among 
 INGERSOLL-RAND LUXEMBOURG
FINANCE S.A., 
 INGERSOLL-RAND PLC, 

INGERSOLL-RAND GLOBAL HOLDING COMPANY LIMITED, 

INGERSOLL-RAND COMPANY LIMITED, 

INGERSOLL-RAND COMPANY, 

INGERSOLL-RAND INTERNATIONAL HOLDING LIMITED 

and 
 THE BANK OF NEW YORK MELLON,

 as Trustee 
  

 
 Debt Securities 

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	2	  
			
	 SECTION 101.
	 	 Definitions
	  	 	2	  
			
	 SECTION 102.
	 	 Compliance Certificates and Opinions
	  	 	9	  
			
	 SECTION 103.
	 	 Form of Documents Delivered to Trustee
	  	 	10	  
			
	 SECTION 104.
	 	 Acts of Holders
	  	 	10	  
			
	 SECTION 105.
	 	 Notices, Etc., to Trustee, Issuer and Guarantors
	  	 	11	  
			
	 SECTION 106.
	 	 Notice to Holders; Waiver
	  	 	12	  
			
	 SECTION 107.
	 	 Conflict with Trust Indenture Act
	  	 	12	  
			
	 SECTION 108.
	 	 Effect of Headings and Table of Contents
	  	 	12	  
			
	 SECTION 109.
	 	 Successors and Assigns
	  	 	12	  
			
	 SECTION 110.
	 	 Separability Clause
	  	 	13	  
			
	 SECTION 111.
	 	 Benefits of Indenture
	  	 	13	  
			
	 SECTION 112.
	 	 Governing Law
	  	 	13	  
			
	 SECTION 113.
	 	 Legal Holidays
	  	 	13	  
			
	 SECTION 114.
	 	 Incorporators, Shareholders, Officers and Directors of the Issuer and the Guarantors Exempt from Individual Liability
	  	 	13	  
			
	 SECTION 115.
	 	 Counterparts
	  	 	13	  
			
	 SECTION 116.
	 	 Currency Exchange
	  	 	14	  
			
	 SECTION 117.
	 	 Judgment Currency; Consent to Jurisdiction and Service
	  	 	14	  
			
	 SECTION 118.
	 	 Force Majeure
	  	 	15	  
			
	 SECTION 119.
	 	 U.S.A. Patriot Act
	  	 	16	  
		
	 ARTICLE TWO SECURITY FORMS
	  	 	16	  
			
	 SECTION 201.
	 	 Forms Generally
	  	 	16	  
			
	 SECTION 202.
	 	 Form of Face of Security
	  	 	16	  
			
	 SECTION 203.
	 	 Form of Reverse of Security
	  	 	19	  
			
	 SECTION 204.
	 	 Form of Trustee’s Certificate of Authentication
	  	 	24	  
			
	 SECTION 205.
	 	 Securities in Global Form
	  	 	24	  
			
	 SECTION 206.
	 	 Guarantee; Form of Guarantee
	  	 	25	  
		
	 ARTICLE THREE THE SECURITIES
	  	 	26	  
			
	 SECTION 301.
	 	 Amount Unlimited; Issuable in Series
	  	 	26	  
			
	 SECTION 302.
	 	 Denominations
	  	 	29	  

  
 i 

							
			
	 SECTION 303.
	 	 Execution, Authentication, Delivery and Dating
	  	 	29	  
			
	 SECTION 304.
	 	 Temporary Securities
	  	 	30	  
			
	 SECTION 305.
	 	 Registration, Registration of Transfer and Exchange
	  	 	31	  
			
	 SECTION 306.
	 	 Mutilated, Destroyed, Lost and Stolen Securities
	  	 	34	  
			
	 SECTION 307.
	 	 Payment of Interest; Interest Rights Preserved
	  	 	34	  
			
	 SECTION 308.
	 	 Persons Deemed Owners
	  	 	35	  
			
	 SECTION 309.
	 	 Cancellation
	  	 	36	  
			
	 SECTION 310.
	 	 Computation of Interest
	  	 	36	  
			
	 SECTION 311.
	 	 CUSIP Numbers
	  	 	36	  
		
	 ARTICLE FOUR SATISFACTION AND DISCHARGE
	  	 	36	  
			
	 SECTION 401.
	 	 Satisfaction and Discharge of Indenture
	  	 	36	  
			
	 SECTION 402.
	 	 Application of Trust Money
	  	 	38	  
			
	 SECTION 403.
	 	 Satisfaction, Discharge and Defeasance of Securities of any Series
	  	 	38	  
			
	 SECTION 404.
	 	 Reinstatement
	  	 	40	  
		
	 ARTICLE FIVE REMEDIES
	  	 	41	  
			
	 SECTION 501.
	 	 Events of Default
	  	 	41	  
			
	 SECTION 502.
	 	 Acceleration of Maturity; Rescission and Annulment
	  	 	42	  
			
	 SECTION 503.
	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	43	  
			
	 SECTION 504.
	 	 Trustee May File Proofs of Claim
	  	 	44	  
			
	 SECTION 505.
	 	 Trustee May Enforce Claims Without Possession of Securities
	  	 	45	  
			
	 SECTION 506.
	 	 Application of Money Collected
	  	 	45	  
			
	 SECTION 507.
	 	 Limitation on Suits
	  	 	46	  
			
	 SECTION 508.
	 	 Unconditional Right of Holders to Receive Principal, Premium and Interest
	  	 	46	  
			
	 SECTION 509.
	 	 Restoration of Rights and Remedies
	  	 	47	  
			
	 SECTION 510.
	 	 Rights and Remedies Cumulative
	  	 	47	  
			
	 SECTION 511.
	 	 Delay or Omission Not Waiver
	  	 	47	  
			
	 SECTION 512.
	 	 Control by Holders
	  	 	47	  
			
	 SECTION 513.
	 	 Waiver of Past Defaults
	  	 	48	  
			
	 SECTION 514.
	 	 Undertaking for Costs
	  	 	48	  
			
	 SECTION 515.
	 	 Waiver of Stay or Extension Laws
	  	 	48	  
		
	 ARTICLE SIX THE TRUSTEE
	  	 	49	  
			
	 SECTION 601.
	 	 Certain Duties and Responsibilities
	  	 	49	  
			
	 SECTION 602.
	 	 Notice of Defaults
	  	 	50	  
			
	 SECTION 603.
	 	 Certain Rights of Trustee
	  	 	50	  

							
			
	 SECTION 604.
	 	 Not Responsible for Recitals or Issuance of Securities
	  	 	52	  
			
	 SECTION 605.
	 	 May Hold Securities
	  	 	52	  
			
	 SECTION 606.
	 	 Money Held in Trust
	  	 	52	  
			
	 SECTION 607.
	 	 Compensation and Reimbursement
	  	 	52	  
			
	 SECTION 608.
	 	 Disqualification; Conflicting Interests
	  	 	53	  
			
	 SECTION 609.
	 	 Corporate Trustee Required; Different Trustees for Different Series; Eligibility
	  	 	53	  
			
	 SECTION 610.
	 	 Resignation and Removal; Appointment of Successor
	  	 	54	  
			
	 SECTION 611.
	 	 Acceptance of Appointment by Successor
	  	 	55	  
			
	 SECTION 612.
	 	 Merger, Conversion, Consolidation or Succession to Business
	  	 	56	  
			
	 SECTION 613.
	 	 Preferential Collection of Claims Against the Issuer or a Guarantor
	  	 	57	  
			
	 SECTION 614.
	 	 Authenticating Agents
	  	 	57	  
			
	 SECTION 615.
	 	 Trustee’s Duty Regarding Reductions of Capital
	  	 	58	  
		
	 ARTICLE SEVEN HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND ISSUER
	  	 	59	  
			
	 SECTION 701.
	 	 Issuer to Furnish Trustee Names and Addresses of Holders
	  	 	59	  
			
	 SECTION 702.
	 	 Preservation of Information; Communications to Holders
	  	 	59	  
			
	 SECTION 703.
	 	 Reports by Trustee
	  	 	60	  
			
	 SECTION 704.
	 	 Reports by IR Parent
	  	 	61	  
		
	 ARTICLE EIGHT CONSOLIDATION, MERGER, CONVEYANCE, SALE OR LEASE
	  	 	62	  
			
	 SECTION 801.
	 	 Issuer and Guarantors May Consolidate, Etc., on Certain Terms
	  	 	62	  
			
	 SECTION 802.
	 	 Securities to be Secured in Certain Events
	  	 	63	  
			
	 SECTION 803.
	 	 Successor Corporation to be Substituted
	  	 	63	  
			
	 SECTION 804.
	 	 Opinion of Counsel to be Given to Trustee
	  	 	64	  
		
	 ARTICLE NINE SUPPLEMENTAL INDENTURES
	  	 	64	  
			
	 SECTION 901.
	 	 Supplemental Indentures without Consent of Holders
	  	 	64	  
			
	 SECTION 902.
	 	 Supplemental Indentures with Consent of Holders
	  	 	65	  
			
	 SECTION 903.
	 	 Execution of Supplemental Indentures
	  	 	66	  
			
	 SECTION 904.
	 	 Effect of Supplemental Indentures
	  	 	67	  
			
	 SECTION 905.
	 	 Conformity with Trust Indenture Act
	  	 	67	  
			
	 SECTION 906.
	 	 Reference in Securities to Supplemental Indentures
	  	 	67	  
		
	 ARTICLE TEN COVENANTS
	  	 	67	  
			
	 SECTION 1001.
	 	 Payment of Principal, Premium and Interest
	  	 	67	  
			
	 SECTION 1002.
	 	 Maintenance of Office or Agency
	  	 	67	  
			
	 SECTION 1003.
	 	 Money for Securities Payments to Be Held in Trust
	  	 	68	  
			
	 SECTION 1004.
	 	 Limitation on Liens
	  	 	69	  

							
			
	 SECTION 1005.
	 	 Limitation on Sale and Leaseback Transactions
	  	 	71	  
			
	 SECTION 1006.
	 	 Defeasance of Certain Obligations
	  	 	72	  
			
	 SECTION 1007.
	 	 Statement by Officer as to Default
	  	 	73	  
			
	 SECTION 1008.
	 	 Waiver of Certain Covenants
	  	 	74	  
			
	 SECTION 1009.
	 	 Calculation of Original Issue Discount
	  	 	74	  
		
	 ARTICLE ELEVEN REDEMPTION OF SECURITIES
	  	 	74	  
			
	 SECTION 1101.
	 	 Applicability of Article
	  	 	74	  
			
	 SECTION 1102.
	 	 Election to Redeem; Notice to Trustee
	  	 	74	  
			
	 SECTION 1103.
	 	 Selection of Securities to Be Redeemed
	  	 	75	  
			
	 SECTION 1104.
	 	 Notice of Redemption
	  	 	75	  
			
	 SECTION 1105.
	 	 Deposit of Redemption Price
	  	 	76	  
			
	 SECTION 1106.
	 	 Securities Payable on Redemption Date
	  	 	76	  
			
	 SECTION 1107.
	 	 Securities Redeemed in Part
	  	 	76	  
		
	 ARTICLE TWELVE SINKING FUNDS
	  	 	77	  
			
	 SECTION 1201.
	 	 Applicability of Article
	  	 	77	  
			
	 SECTION 1202.
	 	 Satisfaction of Sinking Fund Payments with Securities
	  	 	77	  
			
	 SECTION 1203.
	 	 Redemption of Securities for Sinking Fund
	  	 	77	  
		
	 ARTICLE THIRTEEN GUARANTEE
	  	 	78	  
			
	 SECTION 1301.
	 	 Guarantee
	  	 	78	  
			
	 SECTION 1302.
	 	 Execution and Delivery of Guarantee
	  	 	79	  
			
	 SECTION 1303.
	 	 Notice to Trustee
	  	 	80	  
			
	 SECTION 1304.
	 	 This Article Not to Prevent Events of Default
	  	 	80	  
			
	 SECTION 1305.
	 	 Amendment, Etc.
	  	 	80	  
			
	 SECTION 1306.
	 	 Limitation on Liability
	  	 	80	  

 Reconciliation and tie between Trust Indenture Act of 1939 and Indenture. 

 

			
	 Trust Indenture Act Section
	  	 Indenture

Section

	§ 310(a)(1)	  	609
	         (a)(2)	  	609
	         (a)(3)	  	Not
	         (a)(4)	  	Applicable
	         (b)	  	Not
		  	Applicable
		  	608, 610
	§ 311(a)	  	613
	         (b)	  	613
	         (b)(2)	  	703(a)
	§ 312(a)	  	701, 702(a)
	         (b)	  	702(b)
	         (c)	  	702(c)
	§ 313(a)	  	703(a)
	         (b)(1)	  	Not
	         (b)(2)	  	Applicable
	         (c)	  	703(a)
	         (d)	  	703(a)
		  	703(b)
	§ 314(a)	  	704
	         (b)	  	Not
	         (c)(1)	  	Applicable
	         (c)(2)	  	102
	         (c)(3)	  	102
	         (d)	  	Not
	         (e)	  	Applicable
		  	Not
		  	Applicable
		  	102
	§ 315(a)	  	601(a)
	         (b)	  	602
	         (c)	  	601(b)
	         (d)	  	601(c)
	         (d)(1)	  	601(c)(1)
	         (d)(2)	  	601(c)(2)
	         (d)(3)	  	601(c)(3)
	         (e)	  	514
	§ 316(a)(1)(A)	  	502, 512
	         (a)(1)(B)	  	513
	         (a)(2)	  	Not
	         (b)	  	Applicable
		  	508

			
	§ 317(a)(1)	  	503
	         (a)(2)	  	504
	         (b)	  	1003
	§ 318(a)	  	107

  

	Note:	This reconciliation and tie shall not, for any purpose, be deemed to be a part of this Indenture. 

 INDENTURE, dated as of
                        , 2014, among INGERSOLL-RAND LUXEMBOURG FINANCE S.A., a Luxembourg public company limited by shares
(société anonyme) (herein called the “Company”), INGERSOLL-RAND PLC, a public limited company duly organized and existing under the laws of Ireland (“IR Parent”), INGERSOLL-RAND GLOBAL HOLDING
COMPANY LIMITED, a corporation incorporated in Delaware (“IR Global”), INGERSOLL-RAND COMPANY LIMITED, a company duly organized and existing under the laws of Bermuda (“IR Limited”), INGERSOLL-RAND COMPANY, a
corporation incorporated in New Jersey (“IR Company”), INGERSOLL-RAND INTERNATIONAL HOLDING LIMITED, a company duly organized and existing under the laws of Bermuda (“IR International”), and The Bank of New York
Mellon, a banking corporation duly organized and existing under the laws of the State of New York, as Trustee (herein called the “Trustee”). 

RECITALS 
 IR Parent
directly or indirectly beneficially owns 100% of the issued share capital of each of the Company, IR Global, IR Limited, IR Company and IR International. 

Each of the Company, IR Parent and IR Global has duly authorized the execution and delivery of this Indenture to provide for the issuance from
time to time of debt securities (herein called the “Securities”) of the Company, IR Parent or IR Global, as the case may be, to be issued in one or more series as in this Indenture provided. In respect of any series of Securities,
either the Company, IR Parent or IR Global shall be the issuer of such series of Securities. 
 Each series of Securities issued by the
Company will be guaranteed by IR Parent and may also be guaranteed by certain other Subsidiaries (as defined herein) of IR Parent, including IR Global, IR Limited, IR Company and/or IR International, as may be specified in a supplemental indenture
hereto or a Board Resolution (as defined herein) or an Officer’s Certificate (as defined herein) of the Issuer (as defined herein) in accordance with the terms hereof. Each series of Securities issued by IR Parent may be guaranteed by certain
of its Subsidiaries, including IR Global, IR Limited, IR Company, IR International and/or the Company, as may be specified in a supplemental indenture hereto or a Board Resolution or an Officer’s Certificate of the Issuer in accordance with the
terms hereof. Each series of Securities issued by IR Global will be guaranteed by IR Parent and may also be guaranteed by certain other Subsidiaries of IR Parent, including IR Global, IR Limited, IR Company, IR International and/or the Company, as
may be specified in a supplemental indenture hereto or a Board Resolution or an Officer’s Certificate of the Issuer in accordance with the terms hereof. 

All things necessary to make this Indenture a valid agreement of each of the Issuer and the Guarantors, in accordance with its terms, have
been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and
proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 

 ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS 

OF GENERAL APPLICATION 

SECTION 101. Definitions. 

For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

(1) the terms defined in this Article One have the meanings assigned to them in this Article One and include the plural as well
as the singular; 
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by
reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have
the meanings assigned to them in accordance with GAAP; 
 (4) unless the context otherwise requires, any reference to an
“Article” or a “Section” refers to an Article or a Section, as the case may be, of this Indenture; 
 (5)
the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; 

(6) “including” means including without limitation; 

(7) when used with respect to any Security, the words “convert,” “converted” and “conversion” are
intended to refer to the right of the Holder, the Issuer or, to the extent not the Issuer, IR Parent to convert or exchange such Security into or for securities or other property in accordance with such terms, if any, as may hereafter be specified
for such Security as contemplated by Section 301, and these words are not intended to refer to any right of the Holder, the Issuer or, to the extent not the Issuer, IR Parent to exchange such Security for other Securities of the same series and
like tenor pursuant to Section 304, 305, 306, 906 or 1107 or another similar provisions of this Indenture, unless the context otherwise requires; and references herein to the terms of any Security that may be converted mean such terms as may be
specified for such Security as contemplated in Section 301; and 
 (8) unless otherwise provided, references to
agreements and other instruments shall be deemed to include all amendments and other modifications to such agreements and instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Indenture.

 Certain terms, used principally in Article Six, are defined in that Article. 

“Act,” when used with respect to any Holder, has the meaning specified in Section 104. 

  
 2 

 “Affiliate” means, with respect to any specified Person, any other Person
directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to
the foregoing. 
 “Attributable Debt” has the meaning specified in Section 1004(c)(1). 

“Authenticating Agent” means any person authorized to authenticate and deliver Securities on behalf of the Trustee for the
Securities of any series pursuant to Section 614. 
 “Board of Directors” means, as to any Person, the board of
directors or managers, as applicable, of such Person (or, if such Person is a partnership, the board of directors or other governing body of the general partner of such Person), or an executive committee of such Board of Directors or any duly
authorized committee of that Board of Directors or any director(s), manager(s) and/or officer(s), as the case may be, to whom that Board of Directors or committee shall have duly delegated its authority. 

“Board Resolution” means a copy of one or more resolutions adopted by the Board of Directors of a Person, certified by the
Secretary or an Assistant Secretary of such Person to have been duly adopted by such Board of Directors and to be in full force and effect on the date of such certification and delivered to the Trustee. 

“Business Day”, when used with respect to any Place of Payment, means each day which is not a day on which banking
institutions in that Place of Payment are authorized or obligated by law to close. 
 “Calculation Agent” means any person
authorized by the Issuer to determine the floating rate interest rate of any series of Securities bearing a floating rate of interest. Initially, The Bank of New York Mellon shall act as calculation agent in connection with the Securities. The
Calculation Agent shall serve as the calculation agent hereunder unless and until a successor calculation agent is appointed by the Issuer of such Securities. 

“Commission” means the U.S. Securities and Exchange Commission, as from time to time constituted, created under the Exchange
Act, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

“Company” means the Person named as the “Company” in the first paragraph of this Indenture until a successor
Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Request” or “Company Order” means a written request or order signed in the name of the Issuer, by
the Chairman of its Board of Directors, its President, a Vice President, its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee for the Securities of any series. 

  
 3 

 “Corporate Trust Office” means the principal office of the Trustee at which, at
any particular time, its corporate trust business shall be conducted (which office is located as of the date of this Indenture at 525 William Penn Place, 38th Floor, Pittsburgh, PA 15259, Attention: Corporate Trust, or at any other time at such
other address as the Trustee may designate from time to time by notice to the Company, IR Parent, IR Global and the Holders). 

“Defaulted Interest” has the meaning specified in Section 307. 

“Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United States of
America as at the time shall be legal tender for the payment of public and private debts. 
 “Event of Default” unless
otherwise specified in the supplemental indenture, Board Resolution or Officer’s Certificate establishing a series of Securities, has the meaning specified in Section 501. 

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

“Funded Indebtedness” means indebtedness created, assumed or guaranteed by a Person for money borrowed which matures by its
terms, or is renewable by the borrower to a date, more than one year after the date of its original creation, assumption or guarantee. 

“GAAP” means generally accepted accounting principles in the United States (including, if applicable, International Financial
Reporting Standards) as in effect from time to time. 
 “Global Security” means a Security evidencing all or part of a
series of Securities, including, without limitation, any temporary or permanent Global Securities. 
 “Guarantee” means the
guarantee by each Guarantor as endorsed on each Security and authenticated and delivered pursuant to this Indenture, which guarantee shall include the provisions set forth in Article Thirteen of this Indenture. “Guaranteed” shall
have a meaning correlative to the foregoing. 
 “Guarantors” means, (a) in respect of a series of Securities issued by
IR Parent, (i) each Person, if any, named as a “Guarantor” pursuant to a supplemental indenture hereto or a Board Resolution or an Officer’s Certificate of the Issuer in accordance with the terms of this Indenture (until such
Person ceases to be a Guarantor pursuant to the terms of this Indenture) and (ii) any successor company thereof that shall have become a Guarantor pursuant to the applicable provisions of this Indenture, (b) in respect of a series of
Securities issued by the Company, (i) IR Parent, (ii) each other Person, if any, named as a “Guarantor” pursuant to a supplemental indenture hereto or a Board Resolution or an Officer’s Certificate of the Issuer in
accordance with the terms of this Indenture (until such Person ceases to be a Guarantor pursuant to the terms of this Indenture) and (iii) any successor company thereof that shall have become a Guarantor pursuant to the applicable provisions of
this Indenture, and (c) in respect of a series of Securities issued by IR Global, (i) IR Parent, (ii) each other Person, if any, named as a “Guarantor” pursuant to a supplemental indenture hereto or a Board Resolution or an
Officer’s Certificate of the Issuer in accordance with the terms of this Indenture (until such Person ceases to be a Guarantor pursuant to the terms of this Indenture) and (iii) any successor company thereof that shall have become a
Guarantor pursuant to the applicable provisions of this Indenture. 

  
 4 

 “Holder” means a person in whose name a Security is registered in the Security
Register. 
 “Indenture” means this Indenture as originally executed and as it may from time to time be supplemented or
amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this Indenture and any such supplemental indenture, the provisions of the Trust Indenture Act that are
deemed to be a part of and govern this Indenture and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 301. 

“Interest”, when used with respect to an Original Issue Discount Security which by its terms bears interest only after
Maturity, means interest payable after Maturity. 
 “Interest Payment Date”, when used with respect to any Security, means
the Stated Maturity of an installment of interest on such Security. 
 “IR Global” means Ingersoll-Rand Global Holding
Company Limited until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “IR Global” shall mean such successor Person. 

“IR Parent” means Ingersoll-Rand plc until a successor Person shall have become such pursuant to the applicable provisions of
this Indenture, and thereafter “IR Parent” shall mean such successor Person. 
 “Issuer” means, (i) the
Company, in the case of Securities issued by the Company, (ii) IR Parent, in the case of Securities issued by IR Parent, and (iii) IR Global, in the case of Securities issued by IR Global. 

“Judgment Currency” has the meaning specified in Section 117. 

“Maturity”, when used with respect to any Security, means the date on which the principal of such Security or an installment
of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Mortgage” has the meaning specified in Section 1004(c)(3). 

“Officer’s Certificate” means, in the case of the Issuer, a certificate signed by the Chairman of the Board of
Directors, the President or a Vice President of the Issuer, and in the case of a Guarantor, a certificate signed by the Chairman of the Board of Directors, the President or a Vice President of such Guarantor, and, in each case, delivered to the
Trustee. Each such certificate shall include the statements provided for in Section 102 if and to the extent required by this Indenture. 

  
 5 

 “Opinion of Counsel” means a written opinion of counsel, who may be an employee
of or regular counsel for the Issuer or a Guarantor, or for both, as the case may be, or may be other counsel reasonably satisfactory to the Trustee. Each such opinion shall include the statements provided for in Section 102 if and to the
extent required by this Indenture. Opinions of Counsel required to be delivered under this Indenture may have qualifications customary for opinions of the type required and counsel delivering such Opinions of Counsel may rely as to factual matters
on certificates of the Issuer, the Guarantors or governmental or other officials customary for opinions of the type required. 

“Original Issue Discount Security” means any Security which provides for an amount less than the principal amount thereof to
be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

“Outstanding” when used with respect to Securities, means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
 (i) Securities theretofore cancelled by the Trustee for such
Securities or delivered to such Trustee for cancellation; 
 (ii) Securities or portions thereof, for whose payment or
redemption money in the necessary amount has been theretofore deposited with the Trustee for such Securities or any Paying Agent (other than the Issuer) in trust or set aside and segregated in trust by the Issuer (if the Issuer shall act as its own
Paying Agent) for the Holders of such Securities, provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor reasonably satisfactory to such Trustee has
been made; 
 (iii) Securities as to which defeasance has been effected pursuant to Section 403; 

(iv) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have
been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee for such Securities proof satisfactory to it that such Securities are held by a bona fide
purchaser in whose hands such Securities are valid obligations of the Issuer; and 
 (v) Securities as to which any property deliverable upon conversion
thereof has been delivered (or such delivery has been made available), or as to which any other particular conditions have been satisfied, in each case as may be provided for such Securities as contemplated in Section 301; 

provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or
taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (a) the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount
of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 502, (b) if, as of such date, 

  
 6 

 
the principal amount payable at the Stated Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as
specified or determined as contemplated by Section 301, (c) the principal amount of a Security denominated in one or more foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S.
dollar equivalent, determined as of such date in the manner provided as contemplated by Section 301, of the principal amount of such Security (or, in the case of a Security described in clause (a) or (b) above, of the amount
determined as provided in such clause), and (d) Securities owned by the Issuer, the Guarantors or any other obligor upon the Securities or any Affiliate of the Issuer, the Guarantors or such other obligor shall be disregarded and deemed not to
be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other action, only Securities which a Responsible Officer actually
knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to
such Securities and that the pledgee is not the Issuer, a Guarantor or any other obligor upon the Securities or any Affiliate of the Issuer, any Guarantor or such other obligor. 

“Paying Agent” when used with respect to the Securities of any series means any person authorized by the Issuer to pay the
principal of (and premium, if any, on) or interest, if any, on any Securities on behalf of the Issuer. 
 “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 thereof or any other entity. 

“Place of Payment” when used with respect to the Securities of any series, means the place or places where the principal of
(and premium, if any, on) and interest, if any, on the Securities of that series are payable as specified in or as contemplated by Section 301. 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt
as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Principal Property” means any
manufacturing plant or other manufacturing facility of IR Parent or any Restricted Subsidiary, which plant or facility is located within the United States of America, except any such plant or facility which the Board of Directors of IR Parent by
resolution declares is not of material importance to the total business conducted by IR Parent and its Restricted Subsidiaries. 

“Process Agent” has the meaning specified in Section 117. 

“Redemption Date” when used with respect to any Security to be redeemed, means the date fixed for such redemption by or
pursuant to this Indenture. 

  
 7 

 “Redemption Price” when used with respect to any Security to be redeemed, means
the price at which it is to be redeemed pursuant to this Indenture, exclusive of accrued and unpaid interest. 
 “Regular Record
Date” for the interest payable on any Interest Payment Date on the Securities of any series means the date specified for that purpose as contemplated by Section 301. 

“Required Currency” has the meaning specified in Section 117. 

“Responsible Officer” when used with respect to the Trustee for the Securities of any series, means any officer within the
corporate trust department of such Trustee or any other officer of such Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter
is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 

“Restricted Subsidiary” means any Subsidiary which owns a Principal Property excluding however, any entity the greater part
of the operating assets of which are located, or the principal business of which is carried on, outside the United States of America. For the avoidance of doubt, the Company is a Restricted Subsidiary. 

“Sale and Leaseback Transaction” has the meaning specified in Section 1005. 

“Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities
authenticated and delivered under this Indenture. 
 “Security Register” and “Security Registrar” have the
respective meanings specified in Section 305. 
 “Shareholders’ equity in IR Parent and its consolidated
Subsidiaries” has the meaning specified in Section 1004(c)(2). 
 “Special Record Date” for the payment of
any Defaulted Interest means a date fixed by the Trustee for such series pursuant to Section 307. 
 “Stated Maturity”
when used with respect to any Security or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is
due and payable. 
 “Subsidiary” means any corporation, partnership, limited liability company, joint venture, association,
joint-stock company, trust or any other entity of which at least a majority of the outstanding stock or equity interests having voting power under ordinary circumstances to elect a majority of the Board of Directors or similar body of said entity
shall at the time be owned by IR Parent or by IR Parent and one or more Subsidiaries or by one or more Subsidiaries of IR Parent. 

“Trustee” means the person named as the “Trustee” in the first paragraph of this Indenture until a successor
trustee shall have become such pursuant to the applicable provisions 

  
 8 

 
of this Indenture, and thereafter “Trustee” shall mean or include each person who is then a Trustee hereunder, and if at any time there is more than one such person, “Trustee”
as used with respect to the Securities of any series shall mean each such Trustee with respect to those series of Securities with respect to which it is serving as Trustee. 

“Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of which this Indenture was executed,
except as provided in Section 905. 
 “U.S. Depositary” means a clearing agency registered under the Exchange Act, or
any successor thereto, which shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “U.S. Depositary” shall mean or include each Person who is then a U.S. Depositary hereunder, and if at any
time there is more than one such Person, “U.S. Depositary” as used with respect to the Securities of any series shall mean the U.S. Depositary with respect to the Securities of that series. 

“U.S. Government Obligations” means direct obligations of the United States for the payment of which its full faith and
credit is pledged, or obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States and the payment of which is unconditionally guaranteed by the United States. 

“Vice President”, when used with respect to the Issuer, the Guarantors or the Trustee for any series of Securities, means any
vice president, whether or not designated by a number or a word or words added before or after the title “vice president”. 

SECTION 102. Compliance Certificates and Opinions. 

Upon any application or request by the Issuer or any Guarantor to the Trustee for any series of Securities to take any action under any
provision of this Indenture, the Issuer or such Guarantor, as the case may be, shall furnish to such Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action
have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include: 

(1) a statement that each individual signing such certificate or opinion has read such covenant or condition and the
definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the
opinion of each such individual, he has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 

  
 9 

 SECTION 103. Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such person, or that they may be so certified or covered by only one document, but one such person may certify or give an opinion with respect to some matters and one or more
other such persons as to other matters, and any such person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an officer of an Issuer or a Guarantor may be based, insofar as it relates to legal matters, upon a certificate
or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his or her certificate or opinion
is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of such Issuer or such Guarantor, as the case
may be, stating that the information with respect to such factual matters is in the possession of such Issuer or such Guarantor, as the case may be, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate
or opinion or representations with respect to such matters are erroneous. 
 Where any person is required to make, give or execute two or
more applications, requests, consents, certificates, statements, opinions or other instructions under this Indenture, they may, but need not, be consolidated and form one instrument. 

SECTION 104. Acts of Holders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing, and, except as herein otherwise expressly provided, such action shall
become effective when such instrument or instruments are delivered to the Trustee for the appropriate series of Securities and, where it is hereby expressly required, to the Issuer or the Guarantors. Such instrument or instruments (and the action
embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall
be sufficient for any purpose of this Indenture and (subject to Section 601) conclusive in favor of such Trustee, the Guarantors and the Issuer, if made in the manner provided in this Section. 

(b) The fact and date of the execution by any person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him or her the execution thereof. Where such
execution is by a signer acting in a capacity other than his or her individual 

  
 10 

 
capacity, such certificate or affidavit shall also constitute sufficient proof of his or her authority. The fact and date of the execution of any such instrument or writing, or the authority of
the person executing the same, may also be proved in any other manner which the Trustee for such Securities deems sufficient. 
 (c) The
ownership of Securities shall be proved by the Security Register. 
 (d) Any request, demand, authorization, direction, notice, consent,
waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything
done, omitted or suffered to be done by the Trustee for such Securities, the Guarantors or the Issuer in reliance thereon, whether or not notation of such action is made upon such Security. 

SECTION 105. Notices, Etc., to Trustee, Issuer and Guarantors. 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with: 
 (1) the Trustee for a series of Securities by any Holder
or by the Issuer or a Guarantor shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing (including telecopy) to or with such Trustee at its Corporate Trust Office, 

(2) the Issuer by such Trustee, or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if in writing (including telecopy) and sent by registered or certified mail or overnight courier, prepaid, to the Issuer addressed to it care of a Guarantor at the address of such Guarantor specified in the first paragraph of
this Indenture or at any other address previously furnished in writing to such Trustee by the Issuer, or 
 (3) a Guarantor
by such Trustee, or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing (including telecopy) and sent by registered or certified mail or overnight courier, prepaid, to such
Guarantor addressed to it at the address of its office specified in the first paragraph of this Indenture or at any other address previously furnished in writing to such Trustee by the Guarantors. 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile
transmission or other similar unsecured electronic methods, provided, however, that the Trustee shall have received an incumbency certificate listing persons designated to give such instructions or directions and containing specimen signatures of
such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the listing. If the Issuer or Guarantors elect to give the Trustee e-mail or facsimile instructions (or
instructions by a similar electronic method), the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s
taking or refraining from taking action in reliance upon and 

  
 11 

 
compliance with such instructions notwithstanding such instructions conflict or are inconsistent with written instruction received subsequently to the Trustee taking or refraining from taking
action in reliance upon the prior instructions. The Issuer and the Guarantors agree to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of
the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties, provided, however, that the Trustee shall not be relieved from liability for its own negligent action, its own negligent failure to act, or
its own willful misconduct. 
 SECTION 106. Notice to Holders; Waiver. 

Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and delivered electronically or mailed, first-class postage prepaid, to each Holder affected by such event, at his or her address as it appears in the Security Register or otherwise in accordance with the procedures of the
U.S. Depositary, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders is delivered or mailed, neither the failure to deliver or mail such notice, nor
any defect in any notice so delivered or mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the
person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waiver of notice by Holders shall be filed with the Trustee for such Securities, but such filing shall not be a
condition precedent to the validity of any action taken in reliance upon such waiver. 
 In case by reason of the suspension of regular mail
service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee for such Securities shall constitute a sufficient notification for every purpose
hereunder. 
 SECTION 107. Conflict with Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with another provision hereof which is required to be included in this Indenture by any
of the provisions of the Trust Indenture Act, such required provision shall control. 
 SECTION 108. Effect of Headings and Table of
Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the
construction hereof. 
 SECTION 109. Successors and Assigns. 

All covenants and agreements in this Indenture by the Issuer and the Guarantors, as the case may be, shall bind their respective successors
and assigns, whether so expressed or not. 

  
 12 

 SECTION 110. Separability Clause. 

In case any provision in this Indenture or in the Securities or the Guarantees shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 111.
Benefits of Indenture. 
 Nothing in this Indenture or in the Securities or the Guarantees, express or implied, shall give to any
person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

SECTION 112. Governing Law. 

THIS INDENTURE, THE SECURITIES AND THE GUARANTEES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 SECTION 113. Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of
Payment, then (notwithstanding any other provision of this Indenture or of the Securities or the Guarantees) payment of principal (and premium, if any) or interest, if any, need not be made at such Place of Payment on such date, but may be made on
the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, provided that no interest shall accrue for the period from and
after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 
 SECTION 114. Incorporators,
Shareholders, Officers and Directors of the Issuer and the Guarantors Exempt from Individual Liability. 
 No recourse for the payment
of the principal of (and premium, if any, on) or interest, if any, on any Security or any Guarantee, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of any Issuer or
any Guarantor in this Indenture or in any supplemental indenture, or in any Security or in any Guarantee, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, shareholder, officer or director, as
such, past, present or future, of any Issuer or any Guarantor or of any successor corporation, either directly or through any Issuer or any Guarantor or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by
the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby waived and released as a condition of and as a consideration for, the execution of this Indenture and the issue of the
Securities and any Guarantee. 
 SECTION 115. Counterparts. 

This instrument 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 but one and the same instrument. 

  
 13 

 SECTION 116. Currency Exchange. 

If, in determining whether the Holders of the requisite principal amount of Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, it becomes necessary to determine the principal amount of Securities of any series denominated in any coin or currency other than that of the United States of America, such principal amount shall be
computed by converting such coin or currency into coin or currency of the United States of America based upon the rate of exchange in effect at the office of the Trustee for such Securities in New York, New York at 10:00 A.M., New York City time, or
as close to such time as is reasonably practicable, on the date of initial issuance of such series of Securities. 
 SECTION 117.
Judgment Currency; Consent to Jurisdiction and Service. 
 (a) In respect of each series of Securities, each of the Issuer and the
Guarantors agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or interest on the
Securities of such series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal
banking procedures the Trustee for such Securities could purchase in The City of New York the Required Currency with the Judgment Currency at 10:00 A.M. New York City time, or as close to such time as is reasonably practicable, on the day on which
final unappealable judgment is entered, unless such day is not a New York Banking Day, then, to the extent permitted by applicable law, the rate of exchange used shall be the rate at which in accordance with normal banking procedures such Trustee
could purchase in The City of New York the Required Currency with the Judgment Currency at 10:00 A.M. New York City time, or as close to such time as is reasonably practicable, on the New York Banking Day preceding the day on which final
unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment (whether or not
entered in accordance with this subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency
expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall
short of the full amount of the Required Currency so expressed to be payable and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking
Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in The City of New York are authorized or required by law or executive order to close. 

(b) In respect of each series of Securities, to the fullest extent permitted by applicable law, each of the Issuer and the Guarantors hereby
irrevocably submits to the jurisdiction of any federal or state court located in the Borough of Manhattan in The City of New York, New York in any suit, action or proceeding based on or arising out of or relating to this Indenture or any such
Securities or Guarantee and irrevocably agrees that all claims in respect of such suit or proceeding may be determined in any such court. Each of the Issuer and the Guarantors irrevocably waives, to the fullest extent permitted by law, any objection
which it may have to the 

  
 14 

 
laying of the venue of any such suit, action or proceeding brought in an inconvenient forum. Each of the Issuer and the Guarantors agrees that final judgment in any such suit, action or
proceeding brought in such a court shall be conclusive and binding upon the Issuer and/or the Guarantors, as applicable, and may be enforced in the courts of Luxembourg, Bermuda or Ireland (or any other courts to the jurisdiction of which the Issuer
or the Guarantors, as applicable, is subject) by a suit upon such judgment, provided, that service of process is effected upon the Issuer and/or the Guarantors, as applicable, in the manner specified herein or as otherwise permitted by law.
Each of the Issuer and the Guarantors hereby irrevocably designates and appoints Ingersoll-Rand Company, One Centennial Avenue, Piscataway, New Jersey 08854 (the “Process Agent”) as their authorized agent for purposes of this
Section 117(b), it being understood that the designation and appointment of the Process Agent as such authorized agent shall become effective immediately without any further action on the part of the Issuer or the Guarantors. Each of the Issuer
and the Guarantors further agrees that service of process upon the Process Agent and written notice of said service to the Issuer and/or the Guarantors, as applicable, mailed by prepaid registered first class mail or delivered to the Process Agent
at its principal office, shall be deemed in every respect effective service of process upon the Issuer and/or the Guarantors, as applicable, in any such suit or proceeding. Each of the Issuer and the Guarantors further agrees to take any and all
action, including the execution and filing of any and all such documents and instruments as may be necessary, to continue such designation and appointment of the Process Agent in full force and effect so long as the Issuer and/or the Guarantors, as
applicable, has any outstanding obligations under this Indenture. To the extent the Issuer and/or the Guarantors, as applicable, has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through
service of notice, attachment prior to judgment, attachment in aid of execution, executor or otherwise) with respect to itself or its property, each of the Issuer and the Guarantors hereby irrevocably waives such immunity in respect of its
obligations under this Indenture to the extent permitted by law. 
 (c) EACH OF THE ISSUER, GUARANTORS 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 SOLELY AMONG SUCH PARTIES ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE NOTES. 

SECTION 118. 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, 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. 

  
 15 

 SECTION 119. U.S.A. Patriot Act. 

The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial
institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the
Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 

SECTION 120. FATCA. 

In order to comply with applicable tax laws, rules and regulations (including directives, guidelines and interpretations promulgated by
competent authorities) in effect from time to time (“Applicable Law”), each of the Issuer and Guarantors agree to provide to The Bank of New York Mellon tax-information about holders or the transactions contemplated hereby
(including any modification to the terms of such transactions), to the extent such information is directly available to each of the Issuer and Guarantors, so that The Bank of New York Mellon can determine whether it has tax-related obligations under
Applicable Law and each of the Issuer and Guarantors acknowledges that The Bank of New York Mellon shall be entitled to make any withholding or deduction from payments under the Indenture to the extent necessary to comply with Applicable Law. 

ARTICLE TWO 
 SECURITY FORMS 

SECTION 201. Forms Generally. 

The Securities of each series shall be in substantially the form set forth in this Article Two, or in such other form as shall be established
by or pursuant to a Board Resolution of the Issuer, including an Officer’s Certificate of the Issuer delivered pursuant to authority granted by a Board Resolution, or in one or more indentures supplemental hereto, in each case with such
appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be
required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officer executing such Securities, as evidenced by his or her execution of such Securities. 

The certificate of authentication of the Trustee for any series of Securities shall be in substantially the form set forth in this Article
Two. 
 The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other
manner, all as determined by the officer executing such Securities, as evidenced by their execution of such Securities. 
 Each definitive
Guarantee shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Guarantee, as evidenced by their execution of such Guarantee. 

SECTION 202. Form of Face of Security. 

  
 16 

 [ISSUER] 

[Title of the Security] 
  

			
	No.	  	CUSIP No.         
		  	$         

 [ISSUER], a company duly organized and existing under the laws of [COUNTRY] (herein called the
“Issuer”, which term includes any successor company under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    , or registered assigns, the principal sum of
                     Dollars on
                     [If the Security is to bear interest prior to Maturity, insert — , and to pay interest thereon from
             ,          (the “Original Issue Date”),] or from the most recent Interest Payment Date to which interest has been paid or duly
provided for, [semiannually on                      and
                    ] [quarterly on
                    ,                     ,
                     and                     ] in
each year, commencing         ,     , at [If the Security is to bear interest at a fixed rate insert-the rate per annum provided in the title hereof] [If the Security is to bear interest at
a floating rate, insert— [a rate of [insert Floating Rate] per annum], until the principal hereof is paid or made available for payment. [If applicable insert — , and, subject to the terms of the Indenture, at [the rate per annum provided
in the title hereof] [such rate] on any overdue principal and premium and (to the extent that the payment of such interest shall be legally enforceable) on any overdue installment of interest]. 

The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid
to the person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the
[                     or                     ]
[                    ,                     ,
                     or                     ]
(whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either
be paid to the person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of
this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture]. 
 [If
the Security is to bear interest at a fixed rate prior to Maturity, insert — Interest shall be computed on the basis of a year of twelve 30-day months.] [If the Security is to bear interest at a floating rate prior to Maturity, insert —
Interest shall be computed on the basis of the actual number of days in the relevant interest period and a 360-day year.] 
 [If the
Security is to bear interest at a floating rate prior to Maturity, insert — The [insert Floating Rate] will be reset [insert period time as set forth in a Board Resolution of the Issuer] on 

  
 17 

 
each Interest Payment Date (each an “Interest Reset Date”), beginning on              ,
        . The interest rate for the period from and including the Original Issue Date to and excluding the first Interest Payment Date shall be
             per annum (the “Initial Interest Rate”). The              Business Day preceding an Interest Reset Date
will be the “Interest Determination Date” for that Interest Reset Date. The interest rate in effect on each day that is not an Interest Reset Date will be the interest rate determined as of the Interest Determination Date pertaining to the
immediately preceding Interest Reset Date or the Initial Interest Rate, as the case may be. The interest rate in effect on any day that is an Interest Reset Date will be the interest rate determined as of the Interest Determination Date pertaining
to that Interest Reset Date. 
 The Bank of New York Mellon shall act as calculation agent (together with its successors in that capacity,
the “Calculation Agent”) in connection with the Securities. The Calculation Agent shall serve as the calculation agent hereunder unless and until a successor calculation agent is appointed by the Issuer. The following definitions
shall be used by the Calculation Agent in its determination of the interest rate: [insert definitions for floating rate determination].] 

[If the Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear interest except in the
case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal of this Security shall bear interest at the rate of [yield to maturity]% per annum (to the extent that the
payment of such interest shall be legally enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made or duly provided for. Interest on any overdue principal shall be payable on
demand. Any such interest on any overdue principal that is not so paid on demand shall bear interest at the rate of [yield to maturity]% per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue
from the date of such demand for payment to the date payment of such interest has been made or duly provided for, and such interest shall also be payable on demand.] 

Payment of the principal of (and premium, if any, on) and interest, if any, on this Security will be made at the office or agency of the
Issuer maintained for that purpose in [the Borough of Manhattan, The City of New York], in [coin or currency], provided, however, that at the option of the Issuer payment of interest may be made by check mailed to the address of or
funds transferred to the person entitled thereto as such address shall appear in the Security Register. 
 REFERENCE IS HEREBY MADE TO THE
FURTHER PROVISIONS OF THIS SECURITY 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
Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF, the
Issuer has caused this instrument to be duly executed and delivered on the date first written above. 

  
 18 

 
			
	[ISSUER]
		
	By	 	  

		 	Name:
		 	Title:
		
	[By	 	  

		 	Name:
		 	Title:]

 SECTION 203. Form of Reverse of Security. 

[ISSUER] 
 [Title of the Security]

 This Security is one of a duly authorized issue of securities of the Issuer (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of                      (herein called the “Indenture”), among the Issuer, IR
Parent, IR Global, IR Limited, IR Company, IR International [GUARANTORS] (herein called the “Guarantors”, which term includes any successor guarantor under the Indenture) and The Bank of New York Mellon, as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Issuer, IR Global, IR Limited, IR Company, IR International, the Guarantors, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This
Security is one of the series designated on the face hereof, limited in aggregate principal amount to             . 

[If applicable, insert – The Securities of this series are subject to redemption upon not less than 30 or more than 60 days’ notice
by mail to the Holders of such Securities at their addresses in the Security Register for such series, [if applicable, insert – (1) on              in any year commencing with the
year              and ending with the year              through operation of the sinking fund for this series at a Redemption
Price equal to 100% of the principal amount, and (2)] at any time [on or after             , 20    ], as a whole or in part, at the election of the Issuer, at the
following Redemption Prices (expressed as percentages of the principal amount): 
 If redeemed [on or before
                    ,     % and if redeemed] during the 12-month period beginning
                    : 
  

							
	 Year
	  	Redemption Price	  	 Year
	  	Redemption Price
		  		  		  	
		  		  		  	
		  		  		  	

  
 19 

 and thereafter at a Redemption Price equal to     % of the principal amount, together in the
case of any such redemption [if applicable, insert – (whether through operation of the sinking fund or otherwise)] with accrued and unpaid interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such
Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 

[If applicable, insert – The Securities of this series are subject to redemption upon not less than 30 or more than 60 days’ notice
by mail to the Holders of such Securities at their addresses in the Security Register for such series, (1) on                      in any year
commencing with the year              and ending with the year through operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking
fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time [on or after                     ], as
a whole or in part, at the election of the Issuer, at the Redemption Prices for redemption otherwise than through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: 

If redeemed during the 12-month period beginning
                    : 
  

					
	 Year
	  	Redemption Price
For Redemption
Through Operation
of the Sinking Fund	  	Redemption Price
For Redemption
Otherwise Than
Through Operation
of the Sinking 
Fund
		  		  	
		  		  	
		  		  	

 and thereafter at a Redemption Price equal to     % of the principal amount, together in the case of any
such redemption (whether through operation of the sinking fund or otherwise) with accrued and unpaid interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the
Holders of such Securities or one or more Predecessor Securities of record at the close of business on the relevant Record Dates referred to on the face hereof all as provided in the Indenture.] 

[If applicable, insert – The Securities of this series are subject to redemption upon not less than 30 or more than 60 days’ notice
by mail to the Holders of such Securities at their addresses in the Security Register for such series, at any time, as a whole or in part, at the election of the Issuer, at a Redemption Price equal to the greater of: 

(a) 100% of the principal amount of the Securities to be redeemed, or 

(b) as determined by the Quotation Agent (as defined below), the sum of the present values of the remaining scheduled payments
of principal and interest on the Securities to be redeemed (not including any portion of payments of interest accrued as of the Redemption Date) from the Redemption Date to the date of Maturity, discounted to the Redemption Date on a semi-annual
basis assuming a 360-day year consisting of twelve 30-day months at a discount rate equal to the Adjusted Treasury Rate (as defined below) plus              basis points. 

  
 20 

 Interest will cease to accrue on the Securities or portions of the Securities called for
redemption on and after the Redemption Date. 
 “Adjusted Treasury Rate” means, with respect to any Redemption Date, the
rate per year equal to the semi-annual equivalent yield to maturity or interpolated (on a day count basis) 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. 
 “Comparable Treasury Issue” means the United States Treasury
security selected by the Quotation Agent as having an actual or interpolated maturity comparable to the remaining term of the Securities 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 Securities. 
 “Comparable
Treasury Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for that Redemption Date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations, or
(ii) if the Quotation Agent obtains fewer than four Reference Treasury Dealer Quotations, the average of the Reference Treasury Dealer Quotations so received. 

“Quotation Agent” means
                                        . 

“Reference Treasury Dealer” means (i) each of
                    ,                      and
                    , and their respective successors, unless any of them ceases to be a primary U.S. Government securities dealer in New York City
(a “Primary Treasury Dealer”), in which case the Issuer shall substitute another Primary Treasury Dealer, and (ii) any other Primary Treasury Dealers selected by the Quotation Agent. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by that Reference Treasury Dealer at 5:00
p.m., New York City time, on the third Business Day preceding that Redemption Date.] 
 [Notwithstanding the foregoing, the Issuer may not
prior to              redeem any Securities of this series as contemplated by [clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation by
the application, directly or indirectly, of moneys borrowed having an interest cost to the Issuer (calculated in accordance with generally accepted financial practice) of less than     % per annum.] 

[The sinking fund for this series provides for the redemption on
                     in each year beginning with the year              and ending with
the year              of [not less than]              [(“mandatory sinking fund”) and, at the option of the Issuer, not
more than             ] aggregate principal amount of Securities of this series. [Securities of this series acquired or redeemed by the Issuer otherwise than through [mandatory] sinking
fund payments may be credited against subsequent [mandatory] sinking fund payments otherwise required to be made in the order in which they become due.] 

  
 21 

 [In the event of redemption of this Security in part only, a new Security or Securities of this
series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 
 The Indenture
contains provisions for defeasance of (a) the entire indebtedness of this Security and (b) certain restrictive covenants upon compliance by the Issuer with certain conditions set forth therein. 

[If the Security is not an Original Issue Discount Security, insert – If an Event of Default with respect to Securities of this series
shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 

[If the Security is an Original Issue Discount Security, insert – If an Event of Default with respect to Securities of this series shall
occur and be continuing, an amount of principal of the Securities of this series (the “Acceleration Amount”) may be declared due and payable in the manner and with the effect provided in the Indenture. In case of a declaration of
acceleration on or before                     ,
                     or on                     
in any year, the Acceleration Amount per principal amount at Stated Maturity of the Securities shall be equal to the amount set forth in respect of such date below: 
  

			
	 Date of declaration
	  	Acceleration Amount per
principal amount at Stated
Maturity
		  	
		  	
		  	

 and in case of a declaration of acceleration on any other date, the Acceleration Amount shall be equal to the Acceleration
Amount as of the next preceding date set forth in the table above, plus accrued original issue discount (computed in accordance with generally accepted accounting principles in effect on
                    ) from such next preceding date to the date of declaration at the yield to maturity. For the purpose of this computation the
yield to maturity is     %. Upon payment (i) of the Acceleration Amount so declared due and payable and (ii) of interest on any overdue principal and overdue interest (in each case to the extent that the payment of such
interest shall be legally enforceable), all of the Issuer’s obligations in respect of the payment of the principal of and interest, if any, on the Securities of this series shall terminate.] 

[If applicable, insert— Each Holder hereby consents to the Issuer or any Guarantor (or any additional or successor Guarantor) applying to
a court of competent jurisdiction for an order sanctioning, approving, consenting to or confirming a reduction in any of its share capital accounts including, without limitation, by re-characterizing any sum standing to the credit of a share premium
account as a distributable reserve (a “Reduction of Capital”). Each Holder hereby authorizes and requests the Trustee, on behalf of the Holder, to sign any necessary form of consent that the Issuer or any Guarantor (or any additional or
successor Guarantor) may reasonably request in connection with a Reduction of Capital.] 

  
 22 

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Issuer and the Guarantors and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Issuer, the Guarantors and the Trustee with the consent
of the Holders of a majority 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 at
the time Outstanding of all series to be affected, on behalf of the Holders of all Securities of such series, to waive compliance by the Issuer and/or the Guarantors with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 No
reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of (and premium, if any, on) and interest, if any,
on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject
to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Issuer in any place where the principal of
(and premium, if any, on) and interest, if any, on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Security Registrar duly executed by, the Holder hereof or
his or her attorney duly authorized in writing, and thereupon one or more new Securities of this series, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of
             and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like
aggregate principal amount of Securities of this series 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 Issuer may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of
transfer, the Issuer, the Guarantors, the Trustee and any agent of the Issuer, the Guarantors or the Trustee may treat the person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and none of the Issuer, the Guarantors, the Trustee or any such agent shall be affected by notice to the contrary. 
 No recourse
for the payment of the principal of (and premium, if any, on) or interest, if any, on this Security or any Guarantee endorsed hereon, or for any claim based hereon or thereon 

  
 23 

 
or otherwise in respect hereof or thereof, and no recourse under or upon any obligation, covenant or agreement of the Issuer or any Guarantor in the Indenture or in any indenture supplemental
thereto, or in any Security or in any Guarantee, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, shareholder, officer or director, as such, past, present or future, of the Issuer or any
Guarantor or of any successor corporation, either directly or through the Issuer or any Guarantor or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or
otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released. 

THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. In the event
that a provision of this Security conflicts with the Indenture, the terms of the Indenture will govern. 
 SECTION 204. Form of
Trustee’s Certificate of Authentication. 
 This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
 Dated: 
  

			
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By	 	  

		 	Authorized Signatory

 SECTION 205. Securities in Global Form. 

If any Security of a series is issuable in global form, such Global Security may provide that it shall represent the aggregate amount of
Outstanding Securities from time to time endorsed thereon and may also provide that the aggregate amount of Outstanding Securities represented thereby may from time to time be reduced to reflect exchanges. Any endorsement of a Global Security to
reflect the amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be made by the Trustee of such series of Securities and in such manner as shall be specified in such Global Security. Any instructions
by the Issuer with respect to a Global Security, after its initial issuance, shall be in writing but need not comply with Section 102. 

None of the Issuer, the Guarantors, the Trustee of such series of Securities, any Paying Agent or the Security Registrar will have any
responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership
interests. 

  
 24 

 SECTION 206. Guarantee; Form of Guarantee. 

Each Guarantor by its execution of this Indenture hereby agrees with each Holder of a Security of each series authenticated and delivered by
the Trustee of such series of Securities and with such Trustee on behalf of each such Holder, to be unconditionally bound by the terms and provisions of the Guarantee set forth below and authorizes such Trustee to confirm such Guarantee to the
Holder of each such Security by its execution and delivery of each such Security, with such Guarantee endorsed thereon, authenticated and delivered by such Trustee. 

The Guarantee of each Guarantor to be endorsed on the Security shall, subject to Section 201, be in substantially the form set forth
below: 
 GUARANTEE 
 OF 

[GUARANTOR] 
 For value received,
[GUARANTOR], a company duly organized and existing under the laws of [COUNTRY] (herein called the “Guarantor”, which term includes any successor Person under the Indenture referred to in the Security upon which this Guarantee is endorsed),
hereby irrevocably and unconditionally guarantees to the Holder of the Security upon which this Guarantee is endorsed and to the Trustee for itself and on behalf of each such Holder the due and punctual payment of the principal of (and premium, if
any, on) and interest on such Security and the due and punctual payment of the sinking fund or analogous payments referred to therein, if any, when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of
acceleration, call for redemption or otherwise, according to the terms thereof and of the Indenture referred to therein, and all other amounts owed under the Indenture, all in accordance with and subject to the terms and limitations of the Security
on which this Guarantee is endorsed and Article Thirteen of the Indenture. In case of the failure of [ISSUER], a company duly organized under the laws of [COUNTRY] (herein called the “Issuer”, which term includes any successor Person under
such Indenture), promptly to make any such payment of principal (and premium, if any) or interest or any such sinking fund or analogous payment, the Guarantor hereby agrees to cause any such payment to be made promptly when and as the same shall
become due and payable, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise, and as if such payment were made by the Issuer, subject to the terms and limitations of Article Thirteen of the Indenture.

 This Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication of such Security shall have been
manually executed by or on behalf of the Trustee under such Indenture. 
 All terms used in this Guarantee which are defined in such
Indenture shall have the meanings assigned to them in such Indenture. 
 THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK. 
 Executed and delivered on this      day of
        , 20    . 

  
 25 

 
			
	[GUARANTOR]
		
	By	 	  

		 	Name:
		 	Title:
		
	[By	 	  

		 	Name:
		 	Title:]

 Reference is made to Article Thirteen for further provisions with respect to the Guarantees. 

ARTICLE THREE 
 THE SECURITIES 

SECTION 301. Amount Unlimited; Issuable in Series. 

The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 

The Securities may be issued in one or more series. The terms of each series of Securities shall be established either by a Board Resolution
of the Issuer or by an Officer’s Certificate of the Issuer delivered pursuant to authority granted by a Board Resolution or by a supplemental indenture. If any of the terms of the series, including the form of Security of such series, are
established by action taken pursuant to a Board Resolution of the Issuer, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Issuer and delivered to the Trustee for the Securities of
such series at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such series of Securities. If the terms of a series of Securities are to be established pursuant to an
Officer’s Certificate, one or more duly appointed officers of the Issuer shall execute and deliver to the Trustee such Officer’s Certificate, acting pursuant to authority granted to such officers by the Board of Directors of the Issuer. If
the terms of a series of Securities are to be established pursuant to a supplemental indenture, such supplemental indenture shall be entered into in accordance with the provisions of Section 901 hereof. 

Such Board Resolution or Officer’s Certificate or supplemental indenture (including any exhibits thereto) shall establish: 

(1) the title of the Securities of that series (which shall distinguish the Securities of that series from all other series of
Securities); 
 (2) any limit upon the aggregate principal amount of the Securities of that series which may be authenticated
and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series pursuant to Sections 304, 305, 306, 906, or 1107); 

  
 26 

 (3) whether the Securities of that series rank as senior Securities or
subordinated Securities and the terms of any such subordination; 
 (4) the date or dates on which the principal of the
Securities of that series is payable; 
 (5) the rate or rates (or the manner of calculation thereof) at which the Securities
of that series shall bear interest, if any, the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable and the Regular Record Date for the interest payable on any Interest Payment
Date; 
 (6) the place or places where the principal of (and premium, if any, on) and interest, if any, on Securities of that
series shall be payable and where such Securities may be registered or transferred; 
 (7) the period or periods within
which, the price or prices at which and the terms and conditions upon which Securities of that series may be redeemed, in whole or in part, at the option of the Issuer; 

(8) the obligation, if any, of the Issuer to redeem or purchase Securities of that series pursuant to any sinking fund or
analogous provisions or at the option of a Holder thereof, and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of that series shall be redeemed or purchased, in whole or in part,
pursuant to such obligation; 
 (9) the right, if any, of the Issuer to redeem or purchase Securities of that series and the
period or periods within which, the price or prices at which and the terms and conditions upon which Securities of that series shall be redeemed or purchased, in whole or in part, pursuant to such right; 

(10) if other than denominations of $2,000 and integral multiples of $1,000 in excess thereof, the denominations in which
Securities of that series shall be issuable; 
 (11) if other than the principal amount thereof, the portion of the principal
amount of Securities of that series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502; 

(12) if other than such coin or currency of the United States of America, the currency or currency unit in which payment of the
principal of (or premium, if any, on) or interest, if any, on the Securities of that series shall be payable or in which the Securities of that series shall be denominated and the particular provisions applicable thereto; 

(13) if the principal of (and premium, if any, on) or interest, if any, on the Securities of that series are to be payable, at
the election of the Issuer, the Guarantors or a Holder thereof, in a coin or currency other than that in which the Securities are stated to be payable, the period or periods within which, and the terms and conditions upon which, such election may be
made; 

  
 27 

 (14) if the amount of payments of principal of (and premium, if any, on) or
interest, if any, on the Securities of that series may be determined with reference to an index based on a coin or currency other than that in which the Securities are stated to be payable, the manner in which such amounts shall be determined; 

(15) any provisions permitted by this Indenture relating to Events of Default or covenants of the Issuer or any Guarantor with
respect to such series of Securities (including deletions therefrom, modifications thereof or additions thereto, whether or not consistent with the Events of Default or covenants set forth herein); 

(16) if the Securities of that series shall be issued in whole or in part in the form of one or more Global Securities and, in
such case, the U.S. Depositary for such Global Security or Securities; the manner in which and the circumstances under which Global Securities representing Securities of that series may be exchanged for Securities in definitive form, if other than,
or in addition to, the manner and circumstances specified in Section 305; 
 (17) whether the Securities of that series
will be convertible into Common Shares of the Issuer and/or exchangeable for other Securities, including ordinary shares of IR Parent, and if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, and any
deletions from or modifications or additions to this Indenture to permit or to facilitate the issuance of such convertible or exchangeable Securities or the administration thereof; 

(18) the applicability of any guarantees other than the Guarantee of IR Parent in the case of Securities issued by the Company
as set forth herein; 
 (19) whether the Securities of that series will be secured by any collateral and, if so, the terms
and conditions upon which such Securities shall be secured and, if applicable, upon which such liens may be subordinated to other liens securing other indebtedness of the Issuer or any Guarantor of such Securities; 

(20) if a Person other than The Bank of New York Mellon is to act as Trustee for the Securities of that series, the name and
location of the Corporate Trust Office of such Trustee; 
 (21) the Issuer of such series of Securities; 

(22) any provisions for the transfer and legending of the Securities of that series; and 

(23) any other terms of that series (which terms shall not be inconsistent with the provisions of this Indenture). 

All Securities of any particular series shall be substantially identical except as to denomination and except as may otherwise be provided in
or pursuant to such Board Resolution of the Issuer or set forth in such Officer’s Certificate or in any such indenture supplemental hereto. 

  
 28 

 SECTION 302. Denominations. 

The Securities of each series shall be issuable in registered form without coupons in such denominations as shall be specified as contemplated
by Section 301. In the absence of any such provisions with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

SECTION 303. Execution, Authentication, Delivery and Dating. 

The Securities shall be executed, manually or by facsimile, on behalf of the Issuer by its Chairman of the Board of Directors, its President,
one of its Vice Presidents or its Treasurer, and need not be attested. 
 Each Guarantee endorsed on any of the Securities shall be
executed, manually or by facsimile, on behalf of the applicable Guarantor by the Chairman of the Board of Directors, the President, one of its Vice Presidents, its Treasurer or one of its Assistant Treasurers or its Secretary or one of its Assistant
Secretaries, and need not be attested. 
 Any Security or Guarantee bearing the manual or facsimile signatures of individuals who were at
any time the proper officers of the Issuer or the applicable Guarantor, as the case may be, shall bind the Issuer or such Guarantor, as the case may be, notwithstanding that such individuals or any of them have ceased to hold such offices prior to
the authentication and delivery of such Security or Guarantee or did not hold such offices at the date of such Security or Guarantee. 
 At
any time and from time to time after the execution and delivery of this Indenture, the Issuer may deliver Securities of any series, together with the Guarantees of the Guarantors endorsed thereon, executed by the Issuer and such Guarantors to the
Trustee for the Securities of such series for authentication, together with a Company Order for the authentication and delivery of such Securities, and such Trustee in accordance with the Company Order shall authenticate and deliver such Securities.
If the form or terms of the Securities of the series have been established in or pursuant to one or more Board Resolutions of the Issuer, as permitted by Sections 201 and 301, in authenticating such Securities and accepting the additional
responsibilities under this Indenture in relation to such Securities, such Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel of the Issuer, as the case may be,
stating: 
 (a) if the form of such Securities has been established by or pursuant to Board Resolution of the Issuer as
permitted by Section 201, that such form has been established in conformity with the provisions of this Indenture; 

(b) if the terms of such Securities have been established by or pursuant to Board Resolution of the Issuer, as permitted by
Section 301, that such terms have been established in conformity with the provisions of this Indenture; 
 (c) that such
Securities and the Guarantees endorsed thereon, when authenticated and delivered by such Trustee and issued by the Issuer and such Guarantors, as the case may be, in the manner and subject to any conditions specified in such Opinion of Counsel, will
constitute valid and legally binding obligations of the 

  
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Issuer and such Guarantors, as the case may be, respectively, enforceable in accordance with their terms, subject to bankruptcy, insolvency, reorganization and other laws of general applicability
relating to or affecting the enforcement of creditors’ rights and to general equity principles; and 
 (d) that all laws
and requirements in respect of the execution and delivery by the Issuer of such Securities and by such Guarantors of their respective Guarantees have been complied with. 

If such form or terms have been so established, the Trustee for the Securities of such series shall not be required to authenticate such
Securities if such Trustee, being advised by counsel, determines that the issue of such Securities pursuant to this Indenture will affect such Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a
manner which is not reasonably acceptable to such Trustee. 
 Notwithstanding the foregoing, if not all the Securities of any series are to
be issued at one time, it shall not be necessary to deliver the Officer’s Certificate otherwise required pursuant to the foregoing or the Company Order and Opinion of Counsel otherwise required pursuant to the foregoing prior to or at the time
of issuance of each Security, but such documents shall be delivered prior to or at the time of issuance of the first Security of such series; provided, however, that the Trustee shall receive an Officer’s Certificate and an Opinion of Counsel
covering the provisions set forth in Section 102 of the Indenture. 
 Each Security shall be dated the date of its authentication. 

No Security or Guarantee endorsed thereon shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose
unless there appears on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee for the Securities of such series by manual signature, and such certificate upon any Security shall be
conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and, together with Guarantees, if any, endorsed thereon, is entitled to the benefits of this Indenture. 

SECTION 304. Temporary Securities. 

Pending the preparation of definitive Securities of any particular series, the Issuer may execute, and upon delivery of the Company Order the
Trustee for the Securities of such series shall authenticate and deliver temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the
definitive Securities in lieu of which they are issued and having endorsed thereon Guarantees executed by the Guarantors of the tenor of the definitive Guarantees, and with such appropriate insertions, omissions, substitutions and other variations
as the officer executing such Securities may determine, as evidenced by his or her execution of such Securities. 
 If temporary Securities
of any series are issued, the Issuer will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be
exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at 

  
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the office or agency of the Issuer in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series the
Issuer shall execute and the Trustee for the Securities of such series shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of the same series of authorized denominations and having endorsed thereon
the Guarantees by the Guarantors. Until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series. 

SECTION 305. Registration, Registration of Transfer and Exchange. 

The Issuer shall cause to be kept at the Corporate Trust Office of the Trustee for the Securities of each series a register (the register
maintained at such office and in any other office or agency of the Issuer in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may
prescribe, the Issuer shall provide for the registration of Securities and of transfers of Securities. The Trustee for the Securities of each series is hereby appointed “Security Registrar” for the purpose of registering Securities
and transfers of Securities as herein provided. 
 Upon surrender for registration of transfer of any Security of any series at the office
or agency in a Place of Payment for that series, the Issuer shall execute, and the Trustee for the Securities of each series shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the
same series, of any authorized denominations and of a like aggregate principal amount, and having endorsed thereon the Guarantees executed by the Guarantors. 

At the option of the Holder, Securities of any series may be exchanged for other Securities of the same series, of any authorized
denominations and of a like aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Issuer shall execute, and the Trustee for the Securities
of such series shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive, and having endorsed thereon the Guarantees executed by the Guarantors. 

All Securities and the Guarantees endorsed thereon issued upon any registration of transfer or exchange of Securities and such Guarantees
endorsed thereon, shall be the valid obligations of the Issuer and the Guarantors, respectively evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities and such Guarantees endorsed thereon surrendered upon
such registration of transfer or exchange. 
 Every Security presented or surrendered for registration of transfer or for exchange shall (if
so required by the Issuer or the Trustee for the Securities of such series) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Security Registrar duly executed, by the Holder thereof or
his or her attorney duly authorized in writing. 
 No service charge shall be made for any registration of transfer or exchange of
Securities, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental 

  
 31 

 
charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Sections 304, 906 or 1107 not involving any transfer. 

The Issuer shall not be required (i) to issue, register the transfer of or exchange Securities of any series during a period beginning at
the opening of business 15 days before the day of the mailing of a notice of redemption of Securities of that series selected for redemption under Section 1103 and ending at the close of business on the day of such mailing, or (ii) to
register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

If the Issuer shall establish pursuant to Section 301 that the Securities of a series are to be issued in whole or in part in the form of
one or more Global Securities, then the Issuer shall execute (along with the Guarantees executed by the Guarantors endorsed thereon) and the Trustee for the Securities of such series shall, in accordance with Section 303 and the Company Order
with respect to such series, authenticate and deliver one or more Global Securities in temporary or permanent form that (i) shall represent and shall be denominated in an amount equal to the aggregate principal amount of the Outstanding
Securities of such series to be represented by one or more Global Securities, (ii) shall be registered in the name of the U.S. Depositary for such Global Security or Securities or the nominee of such depositary, and (iii) shall bear a
legend substantially to the following effect: “This Security (and the related Guarantees) 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 or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary, unless and until this Security is exchanged in whole or in part for Securities in definitive form” and such
other legend as may be required by the U.S. Depositary. 
 Notwithstanding any other provision of this Section, unless and until it is
exchanged in whole or in part for Securities in definitive form, a Global Security (and the related Guarantees) representing all or a portion of the Securities of a series may not be transferred except as a whole by the U.S. Depositary for such
series to a nominee of such depositary or by a nominee of such depositary to such depositary or another nominee of such depositary or by such depositary or any such nominee to a successor U.S. Depositary for such series or a nominee of such
successor depositary. 
 If at any time the U.S. Depositary for the Securities of a series notifies the Issuer that it is unwilling or
unable to continue as U.S. Depositary for the Securities of such series or if any time the U.S. Depositary for Securities of a series shall no longer be a clearing agency registered and in good standing under the Exchange Act, or other applicable
statute or regulation, the Issuer shall appoint a successor U.S. Depositary with respect to the Securities of such series. If a successor U.S. Depositary for the Securities of such series is not appointed by the Issuer within 90 days after the
Issuer receives such notice or becomes aware of such condition, the Issuer will execute, and the Trustee for the Securities of such series, upon receipt of a Company Order for the authentication and delivery of definitive Securities of such series,
will authenticate and deliver, Securities of such series in definitive form in an aggregate principal amount equal to the principal amount of the Global Security or Securities representing such series in exchange for such Global Security or
Securities and having endorsed thereon the Guarantees executed by the Guarantors. 

  
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 The Issuer may at any time and in its sole discretion determine that the Securities of any series
issued in the form of one or more Global Securities shall no longer be represented by such Global Security or Securities. In such event, the Issuer will execute, and the Trustee for the Securities of such series, upon receipt of a Company Order for
the authentication and delivery of definitive Securities of such series, will authenticate and deliver, Securities of such Series in definitive form and in an aggregate principal amount equal to the principal amount of the Global Security or
Securities representing such series in exchange for such Global Security or Securities and having endorsed thereon the Guarantees executed by the Guarantors. 

If the Securities of any series shall have been issued in the form of one or more Global Securities and if an Event of Default with respect to
the Securities of such series shall have occurred and be continuing, the Issuer will promptly execute, and the Trustee for the Securities of such series, upon receipt of a Company Order for the authentication and delivery of definitive Securities of
such series, will authenticate and deliver Securities of such series in definitive form and in an aggregate principal amount equal to the principal amount of the Global Security or Securities representing such series in exchange for such Global
Security or Securities and having endorsed thereon the Guarantees executed by the Guarantors. 
 If specified by the Issuer pursuant to
Section 301 with respect to Securities of a series, the U.S. Depositary for such series of Securities may surrender a Global Security for such series of Securities in exchange in whole or in part for Securities of such series in definitive form
on such terms as are acceptable to the Issuer and such depositary. Thereupon, the Issuer shall execute and the Trustee for the Securities of such series shall authenticate and deliver, without charge: 

(i) to each Person specified by the U.S. Depositary a new registered Security or Securities of the same series, of an
authorized denomination as requested by such Person in an aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Global Security and having endorsed thereon the Guarantees executed by the Guarantors;
and 
 (ii) to the U.S. Depositary a new Global Security in a denomination equal to the difference, if any, between the
principal amount of the surrendered Global Security and the aggregate principal amount of Securities delivered to Holders thereof and having endorsed thereon the Guarantees executed by the Guarantors. 

Upon the exchange of a Global Security in whole for Securities in definitive form, such Global Security shall be canceled by the Trustee for
the Securities of such series. Securities issued in exchange for a Global Security shall be registered in such names and in such authorized denominations as the U.S. Depositary for such Global Security, pursuant to instructions from its direct or
indirect participants or otherwise, shall instruct the Trustee for the Securities of such series. Such Trustee shall deliver such Securities to the Persons in whose names such Securities are so registered. 

  
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 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security is surrendered to the Trustee for the series of such Securities, the Issuer shall execute and such Trustee shall
authenticate and deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding, and having endorsed thereon the Guarantees executed by the Guarantors.

 If there shall be delivered to the Issuer and the Trustee for the series of such Securities (i) evidence to their satisfaction of
the destruction, loss or theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Issuer or such Trustee that such
Security has been acquired by a bona fide purchaser, the Issuer shall execute and upon its request such Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of like
tenor and principal amount and bearing a number not contemporaneously outstanding, and having endorsed thereon the Guarantees executed by the Guarantors. 

In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Issuer in its discretion
may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security under this Section, the Issuer may
require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee for the series of such Securities) connected
therewith. 
 Every new Security of any series and the Guarantees endorsed thereon, issued pursuant to this Section in lieu of any
destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Issuer and the Guarantors, respectively, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and
shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series duly issued hereunder. 

The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 SECTION 307. Payment of Interest; Interest Rights
Preserved. 
 Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall
be paid to the person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. 

  
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 Any interest on any Security of any series which is payable, but is not punctually paid or duly
provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest
may be paid by the Issuer, at its election in each case, as provided in clause (1) or (2) below: 
 (1) The Issuer
may elect to make payment of any Defaulted Interest to the persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee for the Securities of such series in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date
of the proposed payment, and at the same time the Issuer shall deposit with such Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to
such Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as in this clause provided. Thereupon such Trustee shall fix a
Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by such Trustee of the notice of the
proposed payment. Such Trustee shall promptly notify the Issuer of such Special Record Date and, in the name and at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor
to be mailed, first-class postage prepaid, to each Holder of Securities of such series at his or her address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such
Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close
of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). 
 (2) The
Issuer may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be
required by such exchange, if, after notice given by the Issuer to the Trustee for the Securities of such series of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by such Trustee. 

Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 

SECTION 308. Persons Deemed Owners. 

Prior to due presentment of a Security for registration of transfer, the Issuer, the Guarantors, the Trustee for such Security and any agent
of the Issuer, such Guarantors or such Trustee may treat the person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of (and premium, if any, on) and (subject to
Section 307) interest, if any, on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and none of the Issuer, such Guarantors, such Trustee or any agent of the Issuer, such Guarantors or such Trustee
shall be affected by notice to the contrary. 

  
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 Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent
the Issuer, the Guarantors, the Trustee for such Security, or any agent of any of the foregoing, from giving effect to any written certification, proxy or other authorization furnished by any depositary, as a Holder, with respect to such Global
Security or impair, as between such depositary and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the rights of such depositary (or its nominee) as Holder of such Global
Security. 
 SECTION 309. Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall,
if surrendered to any person other than the Trustee for such Securities, be delivered to such Trustee and shall be promptly cancelled by it. The Issuer or the Guarantors may at any time deliver to such Trustee for cancellation any Securities
previously authenticated and delivered hereunder which the Issuer or such Guarantors may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by such Trustee. No Securities shall be authenticated in
lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by such Trustee shall be disposed of in accordance with such Trustee’s customary
practices. 
 SECTION 310. Computation of Interest. 

Except as otherwise specified as contemplated by Section 301 for Securities of any particular series, interest, if any, on the Securities
of each series shall be computed on the basis of a year of twelve 30-day months. 
 SECTION 311. CUSIP Numbers. 

The Issuer in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee for such Securities
shall use “CUSIP” numbers in notices of redemption as a convenience to Holders of such Securities; provided, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the
Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers.
The Issuer will promptly notify the Trustee in writing of any change in the “CUSIP” numbers. 
 ARTICLE FOUR 

SATISFACTION AND DISCHARGE 

SECTION 401. Satisfaction and Discharge of Indenture. 

This Indenture shall upon Company Request cease to be of further effect with respect to any series of Securities specified therein (except as
to any surviving rights of registration of 

  
 36 

 
transfer or exchange of Securities herein expressly provided for), and the Trustee for the Securities of such series, at the expense of the Issuer, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture, when: 
 (1) either: 

(A) all Securities of such series theretofore authenticated and delivered (other than (i) Securities which have been
destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter
repaid to the Issuer, or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for the Securities of such series for cancellation; or 

(B) all such Securities not theretofore delivered to the Trustee for the Securities of such series for cancellation: 

(i) have become due and payable; or 

(ii) will become due and payable at their Stated Maturity within one year; or 

(iii) are to be called for redemption within one year under arrangements reasonably satisfactory to such Trustee for the
giving of notice of redemption by such Trustee in the name, and at the expense, of the Issuer; or 
 (iv) are deemed paid
and discharged pursuant to Section 403, as applicable, 
 and the Issuer, in the case of (i), (ii) or (iii) above, has
deposited or caused to be deposited with the Trustee for the Securities of such series as trust funds in trust for the purpose an amount of (a) money, or (b) in the case of (ii) or (iii) above and (except as provided in an
indenture supplemental hereto) if no Securities of any series Outstanding are subject to repurchase at the option of Holders, (I) U.S. Government Obligations which through the payment of interest and principal in respect thereof in accordance
with their terms will provide not later than one day before the Stated Maturity or Redemption Date, as the case may be, money in an amount, or (II) a combination of money or U.S. Government Obligations as provided in (I) above, in each case
sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to such Trustee for cancellation, for principal (and premium, if any) and interest, if any, to the date of such deposit (in the case of Securities
which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
 (2) the Issuer has
paid or caused to be paid all other sums payable hereunder by the Issuer; and 
 (3) the Issuer has delivered to the Trustee
for the Securities of such series an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

  
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 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Issuer
to the Trustee of the Securities of each series under Section 607, the obligations of the Issuer to any Authenticating Agent under Section 614 and, if money or U.S. Government Obligations shall have been deposited with the Trustee of the
Securities of any series pursuant to subclause (B) of clause (1) of this Section or if money or U.S. Government Obligations shall have been deposited with or received by the Trustee of the Securities of any series pursuant to
Section 403, the obligations of such Trustee under Section 402 and the last paragraph of Section 1003 shall survive. 

SECTION 402. Application of Trust Money. 

(a) Subject to the provisions of the last paragraph of Section 1003, all money or U.S. Government Obligations deposited with the Trustee
of a particular series of Securities pursuant to Section 401, 403 or 1006 and all money received by the Trustee of a particular series of Securities in respect of U.S. Government Obligations deposited with the Trustee of that series of
Securities pursuant to Section 401, 403 or 1006, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer
acting as its own Paying Agent) as such Trustee may determine, to the persons entitled thereto, of the principal (and premium, if any) and interest, if any, for whose payment such money has been deposited with or received by such Trustee or to make
mandatory sinking fund payments or analogous payments as contemplated by Section 401, 403 or 1006. 
 (b) The Issuer shall pay and
shall indemnify the Trustee of each series of Securities against any tax, fee, or other charge imposed on or assessed against U.S. Government Obligations deposited pursuant to Section 401, 403 or 1006 or the interest and principal received in
respect of such obligations other than any payable by or on behalf of Holders. 
 (c) The Trustee of each series of Securities shall deliver
or pay to the Issuer from time to time upon Company Request any U.S. Government Obligations or money held by it as provided in Section 401, 403 or 1006 which, in the opinion of a nationally recognized firm of independent certified public
accountants expressed in a written certification thereof delivered to such Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or money was
deposited or received. This provision shall not authorize the sale by such Trustee of any U.S. Government Obligations held under this Indenture. 

SECTION 403. Satisfaction, Discharge and Defeasance of Securities of any Series. 

The Issuer and the Guarantors shall be deemed to have paid and discharged the entire indebtedness on all the Outstanding Securities of any
series and the Guarantees, respectively, on the 91st day after the date of the deposit referred to in subparagraph (a) to the proviso hereof, and 

  
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the provisions of this Indenture, as it relates to such Outstanding Securities of such series and the Guarantees, respectively, shall no longer be in effect (and the Trustee for the Securities of
such series, at the expense of the Issuer or the Guarantors, shall at Company Request execute proper instruments acknowledging the same), except as to: 

(1) the rights of Holders of Securities of such series to receive, from the trust funds described in subparagraph (a) to
the proviso hereof, (i) payment of the principal of (and premium, if any, on) and each installment of principal of (and premium, if any, on) or interest, if any, on the Outstanding Securities of such series on the Stated Maturity of such
principal or installment of principal or interest or to and including the Redemption Date irrevocably designated by the Issuer pursuant to subparagraph (e) to the proviso hereof and (ii) the benefit of any mandatory sinking fund payments
applicable to the Securities of such series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such series; 

(2) the Issuer’s obligations with respect to such Securities of such series under Sections 305, 306, and 1002 and, if the
Issuer shall have irrevocably designated a Redemption Date pursuant to subparagraph (e) to the proviso hereof, Sections 1101, 1104 and 1106 as they apply to such Redemption Date; 

(3) the Issuer’s obligations with respect to the Trustee for Securities of such series under Section 607; and 

(4) the rights, powers, trust and immunities of such Trustee hereunder and the duties of such Trustee under Section 402
and, if the Issuer shall have irrevocably designated a Redemption Date pursuant to subparagraph (e) to the proviso hereof, Article Eleven and the duty of such Trustee to authenticate Securities of such series on registration of transfer or
exchange; 
 provided, that the following conditions shall have been satisfied: 

(a) the Issuer has deposited or caused to be irrevocably deposited (except as provided in Section 402(c) and the last
paragraph of Section 1003) with such Trustee as trust funds in trust, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of the Securities of such series, (i) money in an amount, or (ii) (except
as provided in a supplemental indenture with respect to such series) if Securities of such series are not subject to repurchase at the option of Holders, (A) U.S. Government Obligations which through the payment of interest and principal in
respect thereof in accordance with their terms will provide not later than one day before the due date of any payment referred to in clause (x) or (y) of this subparagraph (a) money in an amount or (B) a combination thereof,
sufficient, in the opinion of a nationally recognized firm of independent certified public accountants expressed in a written certification thereof delivered to such Trustee, to pay and discharge (x) the principal of (and premium, if any, on)
and each installment of principal of (and premium, if any, on) and interest, if any, on the Outstanding Securities of such series on the Stated Maturity of such principal or installment of principal or interest or to and including the Redemption
Date irrevocably designated by the Issuer pursuant to subparagraph (e) hereof and (y) any 

  
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mandatory sinking fund payments applicable to the Securities of such series on the day on which such payments are due and payable in accordance with the terms of the Indenture and of the
Securities of such series; 
 (b) the Issuer has delivered to such Trustee an Opinion of Counsel to the effect that such
provision would not cause any Outstanding Securities of such series then listed on any national securities exchange to be delisted as a result thereof; 

(c) no Event of Default or event which with notice or lapse of time would become an Event of Default (including by reason of
such deposit) with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date; 

(d) the Issuer has delivered to such Trustee an Opinion of Counsel in the U.S. to the effect that (i) the Issuer has
received from, or there has been published by the Internal Revenue Service a ruling, or (ii) since the date of this Indenture, there has been a change in the applicable federal income tax law, in either case, to the effect that, and based
thereon such Opinion of Counsel shall confirm that, Holders of the Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such deposit, defeasance and discharge; and 

(e) if the Issuer has deposited or caused to be deposited money or U.S. Government Obligations to pay or discharge the
principal of (and premium, if any, on) and interest, if any, on the Outstanding Securities of a series to and including a Redemption Date on which all of the Outstanding Securities of such series are to be redeemed, such Redemption Date shall be
irrevocably designated by a Board Resolution of the Issuer delivered to such Trustee on or prior to the date of deposit of such money or U.S. Government Obligations, and such Board Resolution shall be accompanied by an irrevocable Company Request
that such Trustee give notice of such redemption in the name and at the expense of the Issuer and less than 30 nor more than 60 days prior to such Redemption Date in accordance with Section 1104. 

SECTION 404. Reinstatement. 

If the Trustee of the Securities of any series or any Paying Agent is unable to apply any money in accordance with Section 402 by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations of the Issuer and the Guarantors under this Indenture and such Securities and any related coupons
and the Guarantees shall be revived and reinstated as though no deposit had occurred pursuant to Section 403 or Section 1006, as the case may be, until such time as such Trustee or Paying Agent is permitted to apply all such money in
accordance with Section 402; provided, however, that if the Issuer makes any payment of principal of (or premium, if any, on) or interest, if any, on any such Security or any related coupon following the reinstatement of its
obligations, the Issuer shall be subrogated to the rights of the Holders of such Securities and any related coupons to receive such payment from the money held by such Trustee or Paying Agent. 

  
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 ARTICLE FIVE 

REMEDIES 
 SECTION 501.
Events of Default. 
 “Event of Default”, wherever used herein with respect to Securities of any series, means any
one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation
of any administrative or governmental body): 
 (1) default in the payment of any interest on any Security of that series
when it becomes due and payable and continuance of such default for a period of 30 days (subject to the deferral of any interest payment in the case of an extension period); or 

(2) default in the payment of the principal of (or premium, if any, on) any Security of that series when due either at its
Maturity, upon redemption, upon acceleration or otherwise; or 
 (3) default in the payment of any sinking fund installment,
when and as due by the terms of a Security of that series, and continuance of such default for a period of 30 days; or 
 (4)
default in the performance, or breach, of any covenant or warranty of the Issuer or any Guarantor of the Securities of such series in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in
this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of a series of Securities other than that series), and continuance of such default or breach for a period of 90 days after there has
been given, by registered or certified mail, to the Issuer or such Guarantor by the Trustee for the Securities of such series or to the Issuer or such Guarantor and the Trustee by the Holders of at least 25% in principal amount of the Outstanding
Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

(5) the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Issuer
or any Guarantor of the Securities of such series in an involuntary case or proceeding under any applicable United States federal or state, Luxembourg, Bermuda or Irish bankruptcy, insolvency, reorganization, examinership or other similar law or
(B) a decree or order adjudging the Issuer or any Guarantor of the Securities of such series as bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment, examinership or composition of or
in respect of the Issuer or any such Guarantor under any applicable United States federal or state, Luxembourg, Bermuda or Irish law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the
Issuer or any such Guarantor or of any substantial part of their respective properties, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed
and in effect for a period of 90 consecutive days; or 

  
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 (6) the commencement by the Issuer or any Guarantor of the Securities of such
series of a voluntary case or proceeding under any applicable United States federal or state, Luxembourg, Bermuda or Irish bankruptcy, insolvency, reorganization, examinership or other similar law or of any other case or proceeding to be adjudicated
as bankrupt or insolvent, or the consent by such Issuer or such Guarantor to the entry of a decree or order for relief in respect of such Issuer or such Guarantor, respectively, in an involuntary case or proceeding under any applicable United States
federal or state, Luxembourg, Bermuda or Irish bankruptcy, insolvency, reorganization, examinership or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against such Issuer or such Guarantor, or the filing
by such Issuer or such Guarantor of a petition or answer or consent seeking reorganization or relief under any applicable United States federal or state, Luxembourg, Bermuda or Irish law, or the consent by such Issuer or such Guarantor to the filing
of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of such Issuer or such Guarantor or of any substantial part of their respective properties, or
the making by such Issuer or such Guarantor of an assignment for the benefit of creditors, or the admission by such Issuer or such Guarantor in writing of its inability to pay its debts generally as they become due, or the taking of corporate action
by such Issuer or such Guarantor in furtherance of any such action; or 
 (7) a guarantee of the Securities of that series
shall for any reason cease to be, or shall for any reason be asserted in writing by the Issuer or any Guarantor of the Securities of such series not to be, in full force and effect and enforceable in accordance with its terms except to the extent
contemplated by this Indenture and such Guarantee; or 
 (8) any other Event of Default provided in the supplemental
indenture or provided in or pursuant to a Board Resolution or Officer’s Certificate of the Issuer, under which such series of Securities is issued or in the form of Security for such series. 

SECTION 502. Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default (other than an Event of Default specified in Section 501(5) or 501(6)) with respect to Securities of any series at
the time Outstanding occurs and is continuing, then in every such case the Trustee for the Securities of such series or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series may declare the
principal amount (or, if the Securities of that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of all of the Securities of that series to be due and payable
immediately, by a notice in writing to the Issuer (and to such Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default specified in
Section 501(5) or 501(6) with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such
portion of the principal amount of such Securities as may be specified by the terms thereof) shall automatically, and without any declaration or other action on the part of such Trustee or any Holder, become immediately due and payable. 

  
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 At any time after such a declaration of acceleration with respect to Securities of any series has
been made and before a judgment or decree for payment of the money due has been obtained by the Trustee for the Securities of such series as hereinafter in this Article Five provided, the Holders of a majority in aggregate principal amount of the
Outstanding Securities of that series, by written notice to the Issuer and such Trustee, may rescind and annul such declaration and its consequences if: 

(1) the Issuer has paid or deposited with such Trustee a sum sufficient to pay, 

(A) all overdue interest, if any, on all Securities of that series, 

(B) the principal of (and premium, if any, on) any Securities, of that series which have become due otherwise than by such
declaration of acceleration and interest thereon at the rate or rates prescribed therefor in such Securities, 
 (C) to the
extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and 

(D) all sums paid or advanced by such Trustee hereunder and the reasonable compensation, expenses, disbursements and advances
of such Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Securities of that series, other
than the non-payment of the principal of and accrued interest on Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 

No such rescission shall affect any subsequent default or impair any right consequent thereon. 

For all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been accelerated and
declared due and payable pursuant to the provisions hereof, then, from and after such declaration, unless such declaration has been rescinded and annulled, the principal amount of such Original Issue Discount Securities shall be deemed, for all
purposes hereunder, to be such portion of the principal thereof as shall be due and payable as a result of such acceleration, and payment of such portion of the principal thereof as shall be due and payable as a result of such acceleration, together
with interest, if any, thereon and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount Securities. 

SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee. The Issuer covenants that if: 

(1) default is made in the payment of any interest on any Security of a series when such interest becomes due and payable and
such default continues for a period of 30 days, or 
 (2) default is made in the payment of the principal of (or premium, if
any, on) any Security of a series at the Maturity thereof, 

  
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 the Issuer will, upon demand of the Trustee for the Securities of such series, pay to it, for the benefit of the
Holders of such Securities, the whole amount then due and payable on such Securities for principal (and premium, if any) and interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue
principal (and premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including
the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel. 
 If the Issuer fails to pay
such amounts forthwith upon such demand, such Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final
decree and may enforce the same against the Issuer, the Guarantors or any other obligor upon such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Issuer, the Guarantors or
any other obligor upon such Securities, wherever situated. 
 If an Event of Default with respect to Securities of any series occurs and is
continuing, the Trustee for the Securities of such series may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as such Trustee shall deem
most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

SECTION 504. Trustee May File Proofs of Claim. 

In any case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Issuer, any of the Guarantors or any other obligor upon the Securities a series or the property of the Issuer, such Guarantors or such other obligor or their creditors, the Trustee for the Securities of such
series (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether such Trustee shall have made any demand on the Issuer or the Guarantors for
the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise: 

(i) to file and prove a claim for the whole amount of principal (and premium, if any) and interest owing and unpaid in respect
of such Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of such Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of such Trustee,
its agents and counsel) and of the Holders of such Securities allowed in such judicial proceeding; and 
 (ii) to collect and
receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 

  
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 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such
judicial proceeding is hereby authorized by each Holder of such Securities to make such payments to such Trustee and, in the event that such Trustee shall consent to the making of such payments directly to such Holders, to pay to such Trustee any
amount due it for the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel, and any other amounts due such Trustee under Section 607. 

Nothing herein contained shall be deemed to authorize the Trustee for the Securities of any series to authorize or consent to or accept or
adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities, the Guarantees or the rights of any Holder thereof or to authorize such Trustee to vote in respect of the claim of any Holder
in any such proceeding. 
 SECTION 505. Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee for any series of
Securities without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by such Trustee shall be brought in its own name as trustee of an express trust, and any
recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which
such judgment has been recovered. 
 SECTION 506. Application of Money Collected. 

Any money collected by the Trustee for any series of Securities pursuant to this Article Five shall be applied in the following order, at the
date or dates fixed by such Trustee and, in case of the distribution of such money on account of principal (or premium, if any) or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon
surrender thereof if fully paid: 
 FIRST: to the payment of all amounts due such Trustee under Section 607; 

SECOND: In case the principal of the Securities of such series in respect of which moneys have been collected shall not have become and be
then due and payable, to the payment of interest, if any, on the Securities of such series in default in the order of the maturity of the installments of such interest, with interest (to the extent that such interest has been collected by such
Trustee and to the extent permitted by law) upon the overdue installments of interest at the rate prescribed therefor in such Securities, such payments to be made ratably to the persons entitled thereto, without discrimination or preference; 

THIRD: In case the principal of the Securities of such series in respect of which moneys have been collected shall have become and shall be
then due and payable, to the payment of the whole amount then owing and unpaid upon all the Securities of such series for principal and interest, if any, with interest upon the overdue principal, and (to the extent that such interest has

  
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been collected by such Trustee and to the extent permitted by law) upon overdue installments of interest at the rate prescribed therefor in the Securities of such series; and in case such moneys
shall be insufficient to pay in full the whole amount so due and unpaid upon the Securities of such series, then to the payment of such principal and interest, without preference or priority of principal over interest, or of interest over principal,
or of any installment of interest over any other installment of interest, or of any Security of such series over any other Security of such series, ratably to the aggregate of such principal and accrued and unpaid interest; and 

FOURTH: To the payment of the remainder, if any, to the Issuer or as a court of competent jurisdiction may direct. 

SECTION 507. Limitation on Suits. 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (1) such Holder has
previously given written notice to the Trustee for the Securities of such series of a continuing Event of Default with respect to the Securities of that series; 

(2) the Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made written
request to such Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(3) such Holder or Holders have offered to such Trustee indemnity reasonably satisfactory to it against the costs, expenses and
liabilities to be incurred in compliance with such request; 
 (4) such Trustee for 60 days after its receipt of such notice,
request and offer of indemnity has failed to institute any such proceeding; and 
 (5) no direction inconsistent with such
written request has been given to such Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series, 

it being understood and intended that no one or more of such Holders shall have any right in any manner whatsoever by virtue of, or by availing of, any
provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the
manner herein provided and for the equal and ratable benefit of all such Holders. 
 SECTION 508. Unconditional Right of Holders to
Receive Principal, Premium and Interest. 
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of (and premium, if any, on) and (subject to Section 307) interest, if any, on such Security on the Stated 

  
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Maturity or Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not
be impaired without the consent of such Holder. 
 SECTION 509. Restoration of Rights and Remedies. 

If the Trustee for the Securities of any series or any Holder has instituted any proceeding to enforce any right or remedy under this
Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to such Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Issuer, the
Guarantors, such Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of such Trustee and the Holders shall continue as though no such proceeding had been
instituted. 
 SECTION 510. Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee for the Securities of any series or to any Holder is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 SECTION 511. Delay or Omission Not
Waiver. 
 No delay or omission of the Trustee for the Securities of any series or of any Holder of any Securities to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article Five or by law to such Trustee or to the
Holders may be exercised from time to time, and as often as may be deemed expedient, by such Trustee or by the Holders, as the case may be. 

SECTION 512. Control by Holders. 

The Holders of a majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee for the Securities of such series, or exercising any trust or power conferred on such Trustee, with respect to the Securities of such series; provided that:

 (1) such direction shall not be in conflict with any rule of law or with this Indenture; and 

(2) such Trustee may take any other action deemed proper by such Trustee which is not inconsistent with such direction. 

  
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 SECTION 513. Waiver of Past Defaults. 

The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series may on behalf of the Holders
of all of the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default: 

(1) in the payment of the principal of (or premium, if any, on) or interest, if any, on any Security of such series; or 

(2) in respect of a covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of
the Holder of each Outstanding Security of such series affected. 
 Upon any such waiver, such default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

SECTION 514. Undertaking for Costs. 

All parties to this Indenture agree, and each Holder of any Security by his or her acceptance thereof shall be deemed to have agreed, that any
court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for the Securities of any series for any action taken or omitted by it as Trustee, the filing by any
party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having
due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee for the Securities of any series, to any suit instituted by any
Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of (or premium, if any,
on) or interest, if any, on any Security on or after the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on or after the Redemption Date). 

SECTION 515. Waiver of Stay or Extension Laws. 

Each of the Issuer and the Guarantors of each series of Securities covenants (to the extent that it may lawfully do so) that it will not at
any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and each of the Issuer and the Guarantors of each series of Securities (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the
execution of any power herein granted to the Trustee for the Securities of any such series, but will suffer and permit the execution of every such power as though no such law had been enacted. 

  
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 ARTICLE SIX 

THE TRUSTEE 
 SECTION 601.
Certain Duties and Responsibilities. 
 (a) Except during the continuance of an Event of Default with respect to the Securities of
any series for which the Trustee is serving as such: 
 (1) such Trustee undertakes to perform such duties and only such
duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against such Trustee; and 

(2) in the absence of bad faith on its part, such Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to such Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are
specifically required to be furnished to such Trustee, such Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein). 
 (b) In case an Event of Default with respect to a series of Securities has
occurred and is continuing, the Trustee for the Securities of such series shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or
use under the circumstances in the conduct of his or her own affairs. 
 (c) No provision of this Indenture shall be construed to relieve
the Trustee for the Securities of any series from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 

(1) this subsection shall not be construed to limit the effect of subsection (a) of this Section; 

(2) such Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be
proved that such Trustee was negligent in ascertaining the pertinent facts; 
 (3) such Trustee shall not be liable with
respect to any action taken, suffered or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Securities of any particular series, determined as provided in
Section 512, relating to the time, method and place of conducting any proceeding for any remedy available to such Trustee, or exercising any trust or power conferred upon such Trustee, under this Indenture with respect to the Securities of that
series; and 
 (4) no provision of this Indenture shall require the Trustee for any series of Securities to expend or risk
its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers. 

(d) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee for any series of Securities shall be subject to the provisions of this Section. 

  
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 SECTION 602. Notice of Defaults. 

Within 90 days after the occurrence of any default hereunder of which a Responsible Officer of the Trustee has actual written knowledge with
respect to the Securities of any particular series, the Trustee for the Securities of such series shall deliver electronically or transmit by mail to all Holders of Securities of that series, as their names and addresses appear in the Security
Register for that series or otherwise in accordance with the procedures of the U.S. Depositary, notice of such default hereunder known to such Trustee, unless such default shall have been cured or waived; provided, however, that,
except in the case of a default in the payment of the principal of (or premium, if any, on) or interest, if any, on any Security of that series or in the payment of any sinking fund installment with respect to Securities of that series, such Trustee
shall be protected in withholding such notice if and so long as the Responsible Officers of such Trustee in good faith determine that the withholding of such notice is in the interest of the Holders of Securities of that series; and provided,
further, that in the case of any default of the character specified in Section 501(4) with respect to Securities of that series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. For the
purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of that series. 

Promptly (and in any event within 5 Business Days) upon the Issuer or any of the Guarantors becoming aware of any default hereunder with
respect to the Securities of any particular series, such party is required to deliver to the Trustee a statement specifying such default hereunder and the actions which the Issuer or such Guarantors, as the case may be, propose to take with respect
to such default hereunder. 
 SECTION 603. Certain Rights of Trustee. Subject to the provisions of Section 601: 

(a) the Trustee for any series of Securities may conclusively rely and shall be protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, electronic instruction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to
have been signed or presented by the proper party or parties; 
 (b) any request or direction of the Issuer or any Guarantor mentioned
herein shall be sufficiently evidenced by a Company Request or Company Order of the Issuer or such Guarantor and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution of the Issuer or such Guarantor; 

(c) whenever in the administration of this Indenture such Trustee shall deem it desirable that a matter be proved or established prior to
taking, suffering or omitting any action hereunder, such Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officer’s Certificate; 

  
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 (d) such Trustee may consult with counsel of its selection and the advice of such counsel or any
Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(e) such Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or
direction of any of the Holders of Securities of any series pursuant to this Indenture for which it is acting as Trustee, unless such Holders shall have offered to such Trustee security or indemnity, reasonably satisfactory to it, against the costs,
expenses and liabilities which might be incurred by it in compliance with such request or direction; 
 (f) such Trustee shall not be bound
to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or
document and the delivery of such information shall not constitute actual or constructive knowledge or notice on the part of the Trustee, but such Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters
as it may see fit, and, if such Trustee shall determine to make such further inquiry or investigation, it shall be entitled upon reasonable request to examine the books, records and premises of the Issuer, personally or by agent or attorney; 

(g) such Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or
attorneys and such Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

(h) the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it
to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (i) in no event shall the Trustee be
responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or
damage and regardless of the form of action; 
 (j) the Trustee shall not be deemed to have notice of any default or Event of Default unless
a Responsible Officer of the Trustee has actual written knowledge of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture;

 (k) the rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder; 

(l) the Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder; and 

(m) the Trustee may request that any of the Issuer or Guarantors deliver a certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture. 

  
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 SECTION 604. Not Responsible for Recitals or Issuance of Securities. 

The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the
statements of the Issuer and the Guarantors, and neither the Trustee for any series of Securities nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee for any series of Securities makes no representations as to
the validity or sufficiency of this Indenture or of the Securities or the Guarantees. Neither the Trustee for any series of Securities nor any Authenticating Agent shall be accountable for the use or application by the Issuer of Securities or the
proceeds thereof. 
 SECTION 605. May Hold Securities. 

The Trustee for any series of Securities, any Authenticating Agent, any Paying Agent, any Calculation Agent, any Security Registrar or any
other agent of the Issuer, the Guarantors or such Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Issuer or the Guarantors with the
same rights it would have if it were not such Trustee, Authenticating Agent, Paying Agent, Calculation Agent, Security Registrar or such other agent. 

SECTION 606. Money Held in Trust. 

Money held by the Trustee for any series of Securities in trust hereunder need not be segregated from other funds except to the extent
required by law. The Trustee for any series of Securities shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Issuer or the Guarantors. 

SECTION 607. Compensation and Reimbursement. The Issuer and Guarantors, jointly and severally, agree: 

(1) to pay to the Trustee for any series of Securities from time to time such compensation for all services rendered by it
hereunder as shall be agreed upon in writing from time to time by the Issuer and such Trustee (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(2) except as otherwise expressly provided herein, to reimburse the Trustee for any series of Securities upon its request for
all reasonable expenses, disbursements and advances incurred or made by such Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel),
except any such expense, disbursement or advance as may be attributable to its own negligence or willful misconduct or the negligence or willful misconduct of its officers, directors, employees or agents; and 

(3) to indemnify such Trustee (which for purposes of this Section 607(3) shall include its officers, directors, employees
and agents) for, and to hold it harmless against, any and all loss, liability, damage, claim or expense (including taxes other than taxes based on the income of the Trustee) incurred without negligence or willful misconduct on its part or on the
part of its officers, directors, employees or agents, arising out of or in connection with the acceptance or administration of this trust or trusts hereunder, including the costs and expenses of defending itself against any claim (whether asserted
by the Issuer, the Guarantors, a Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder. 

  
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 The Trustee for any series of Securities shall have a lien prior to the Securities as to all
property and funds held by such Trustee hereunder for any amount owing it or any predecessor Trustee pursuant to this Section 607, except with respect to funds held in trust for the benefit of the Holders of such particular Securities. 

When the Trustee for any series of Securities incurs expenses or renders services in connection with an Event of Default specified in
Section 501(5) or Section 501(6), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable federal or state
bankruptcy, insolvency or other similar law. 
 The provisions of this Section shall survive the termination of this Indenture and the
resignation or removal of the Trustee. 
 SECTION 608. Disqualification; Conflicting Interests. 

If the Trustee for any series of Securities has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, such
Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. In determining whether such Trustee has a conflicting interest as
defined in Section 310(b) of the Trust Indenture Act with respect to the Securities of any series, there shall be excluded Securities of any particular series of Securities other than that series. 

SECTION 609. Corporate Trustee Required; Different Trustees for Different Series; Eligibility. 

There shall at all times be a Trustee hereunder for each series of Securities which shall be a corporation or bank organized and doing
business under the laws of the United States of America, any State thereof, or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 subject to
supervision or examination by federal or state authority. If such corporation or bank publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time such Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article Six. 

  
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 A different Trustee may be appointed by the Issuer for each series of Securities prior to the
issuance of such Securities. If the initial Trustee for any series of Securities is to be other than The Bank of New York Mellon, the Issuer and such Trustee shall, prior to the issuance of such Securities, execute and deliver an indenture
supplemental hereto, which shall provide for the appointment of such Trustee as Trustee for the Securities of such series and shall add to or change any of the provisions of this Indenture as shall be necessary to facilitate the administration of
the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees to be co-trustees of the same trust and that each such Trustee shall be trustee of a trust or
trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee. 
 No trustee hereunder shall
be personally liable by reason of any act or omission of any other trustee hereunder. 
 SECTION 610. Resignation and Removal;
Appointment of Successor. 
 (a) No resignation or removal of the Trustee for the Securities of any series and no appointment of a
successor Trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 

(b) The Trustee for the Securities of any series may resign at any time with respect to the Securities of such series by giving written notice
thereof to the Issuer. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee for the Securities of such series within 30 days after the giving of such notice of resignation,
the resigning Trustee may petition, at the expense of the Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

(c) The Trustee for the Securities of any series may be removed at any time with respect to the Securities of such series by Act of the
Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, delivered to such Trustee and to the Issuer. 

(d) If at any time: 

(1) the Trustee for the Securities of any series shall fail to comply with Section 608 after written request thereof by
the Issuer or by any Holder who has been a bona fide Holder of a Security of such series for at least six months; or 
 (2)
such Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Issuer or by any such Holder; or 

(3) such Trustee shall become incapable of acting or shall be adjudged bankrupt or insolvent or a receiver of such Trustee or
of its property shall be appointed or any public officer shall take charge or control of such Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; 

  
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 then, in any such case, (i) the Issuer by a Board Resolution may remove such Trustee and appoint a successor
Trustee, or (ii) subject to Section 514, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of such Trustee and the appointment of a successor Trustee or Trustees. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee for the Securities
of such series within 30 days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the
Securities of such series 
 (e) If the Trustee for the Securities of any series shall resign, be removed or become incapable of acting, or
if a vacancy shall occur in the office of Trustee for the Securities of any series for any cause, the Issuer, by a Board Resolution, shall promptly appoint a successor Trustee with respect to the Securities of such series and shall comply with the
applicable requirements of Section 611. If, within 30 days after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of such series shall not have been appointed by
the Issuer pursuant to this Section 610, then a successor Trustee may be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Issuer and the retiring Trustee. If no
successor Trustee for the Securities of such series shall have been so appointed by the Issuer or the Holders and shall have accepted appointment in the manner required by Section 611, and if such Trustee to be replaced is still incapable of
acting, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor
Trustee with respect to the Securities of such series. 
 (f) The Issuer shall give notice of each resignation and each removal of the
Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by delivering electronically or mailing written notice of such event by first-class mail, postage prepaid,
to all Holders of Securities of such series as their names and addresses appear in the Security Register or otherwise in accordance with the procedures of the U.S. Depositary. Each notice shall include the name of the successor Trustee with respect
to the Securities of that series and the address of its Corporate Trust Office. 
 SECTION 611. Acceptance of Appointment by
Successor. 
 (a) Every such successor Trustee appointed hereunder with respect to the Securities of any series shall execute,
acknowledge and deliver to the Issuer, the Guarantors and the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Issuer, any Guarantor or the successor Trustee, such retiring Trustee shall, upon receipt of
payment of its charges, execute, and deliver an instrument 

  
 55 

 
transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held
by such retiring Trustee hereunder. 
 (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one
or more (but not all) series, the applicable Issuer, the applicable Guarantors, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver one or more indentures supplemental hereto
wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall
continue to be vested in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it
being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts
hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indentures the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates; but, on request of the applicable Issuer, the applicable Guarantors or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring
Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. 
 (c)
Upon request of any such successor Trustee, the Issuer and the Guarantors of each applicable series of Securities shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights,
powers, and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 
 (d) No successor Trustee shall
accept its appointment unless at the time of such acceptance such successor Trustee for the Securities of any series shall be qualified and eligible under this Article Six. 

SECTION 612. Merger, Conversion, Consolidation or Succession to Business. 

Any corporation into which the Trustee for the Securities of any series may be merged or converted or with which it may be consolidated, or
any corporation resulting from any merger, conversion or consolidation to which such Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of such Trustee, shall be the successor of such
Trustee hereunder, provided such corporation shall be otherwise qualified and 

  
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eligible under this Article Six, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated,
but not delivered, by the Trustee or the Authenticating Agent for such series then in office, any successor by merger, conversion or consolidation to such authenticating Trustee or Authenticating Agent, as the case may be, may adopt such
authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee or successor Authenticating Agent had itself authenticated such Securities. 

SECTION 613. Preferential Collection of Claims Against the Issuer or a Guarantor. 

If and when the Trustee of any series of Securities shall be or become a creditor of the Issuer or any Guarantor (or any other obligor upon
the Securities), such Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Issuer or any such Guarantor (or any such other obligor). 

SECTION 614. Authenticating Agents. 

From time to time the Trustee of any series of Securities, in its sole discretion, may appoint one or more Authenticating Agents with respect
to the Securities of such series, which may include the Issuer, any of the Guarantors or any Affiliate of the Issuer or the Guarantors, with power to act on the Trustee’s behalf and subject to its discretion in the authentication and delivery
of Securities of such series or in connection with transfers and exchanges under Sections 304, 305, 306 and 1107 as fully to all intents and purposes as though such Authenticating Agent had been expressly authorized by those Sections of this
Indenture to authenticate and deliver Securities of such series. For all purposes of this Indenture, the authentication and delivery of Securities of such series by an Authenticating Agent for such Securities pursuant to this Section shall be deemed
to be authentication and delivery of such Securities “by the Trustee” for the Securities of such series. Any such Authenticating Agent shall be acceptable to the Issuer and shall at all times be a corporation organized and doing
business under the laws of the United States, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $25,000,000 and, if other than the Issuer,
any of the Guarantors or any Affiliate of the Issuer or the Guarantors, subject to supervision or examination by federal, state or District of Columbia authority. If such corporation publishes reports of condition at least annually pursuant to law
or the requirements of such authority, then for the purposes of this Section the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so
published. If at any time an Authenticating Agent for any series of Securities shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect
specified in this Section. 
 Any corporation into which any Authenticating Agent may be merged or with which it may be consolidated, or any
corporation resulting from any merger or consolidation or to which any Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of any Authenticating Agent, shall be the successor
of such Authenticating Agent hereunder, if such successor corporation is otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the parties hereto or the Authenticating Agent or such
successor corporation. 

  
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 Any Authenticating Agent for any series of Securities may resign at any time by giving written
notice of resignation to the Trustee for such series and to the Issuer. The Trustee for any series of Securities may at any time terminate the agency of any Authenticating Agent for such series by giving written notice of termination to such
Authenticating Agent and to the Issuer. Upon receiving such a notice of resignation or upon such a termination, or in case at any time any Authenticating Agent for any series of Securities shall cease to be eligible under this Section, the Trustee
for such series may appoint a successor Authenticating Agent, which shall be acceptable to the Issuer, shall give written notice of such appointment to the Issuer and shall give written notice of such appointment to all Holders of Securities of such
series with respect to which such Authenticating Agent will serve, as the names and addresses of such Holders appear on the Security Register. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with
all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 

The Issuer agrees to pay to the Authenticating Agent for such series from time to time reasonable compensation for its services under this
Section 614. 
 If an appointment with respect to one or more series of Securities is made pursuant to this Section, the Securities of
such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

									
	Date:	 	  
	 		 	THE BANK OF NEW YORK MELLON, as Trustee
					
		 		 		 	By	 	  

				
		 		 		 	As Authenticating Agent
					
		 		 		 	By	 	  

				
		 		 		 	Authorized Signatory

 The provisions of Sections 309, 604 and 605 shall be applicable to any Authenticating Agent. 

SECTION 615. Trustee’s Duty Regarding Reductions of Capital. 

Each Holder hereby consents to the Issuer or any Guarantor applying to a court of competent jurisdiction for an order sanctioning, approving,
consenting to or confirming a 

  
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reduction in any of its share capital accounts including, without limitation, by re-characterizing any sum standing to the credit of a share premium account as a distributable reserve (a
“Reduction of Capital”). Each Holder hereby agrees that the Trustee, on behalf of the Holder, is authorized and directed to give its consent to any such Reduction of Capital. 

ARTICLE SEVEN 
 HOLDERS’ LISTS
AND REPORTS BY TRUSTEE AND ISSUER 
 SECTION 701. Issuer to Furnish Trustee Names and Addresses of Holders. 

With respect to each particular series of Securities, the Issuer will furnish or cause to be furnished to the Trustee for the Securities of
such series: 
 (a) semi-annually, not later than 15 days after each Regular Record Date, or, in the case of any series of
Securities on which semi-annual interest is not payable, not more than 15 days after such semi-annual dates as may be specified by such Trustee, a list, in such form as such Trustee may reasonably require, of the names and addresses of the Holders
as of such Regular Record Date or semi-annual date, as the case may be; and 
 (b) at such other times as such Trustee may
request in writing, within 30 days after the receipt by the Issuer of any such request, a list of similar form and content as specified in clause (a) above as of a date not more than 15 days prior to the time such list is furnished; 

provided, however, that so long as such Trustee is Security Registrar for any series of Securities, no such list shall be required to be
furnished with respect to any such series. 
 SECTION 702. Preservation of Information; Communications to Holders. 

(a) The Trustee for each series of Securities shall preserve, in as current a form as is reasonably practicable, the names and addresses of
Holders contained in the most recent list furnished to such Trustee as provided in Section 701 and the names and addresses of Holders received by such Trustee in its capacity as Security Registrar. Such Trustee may destroy any list furnished to
it as provided in Section 701 upon receipt of a new list so furnished. 
 (b) If three or more Holders of any particular series (herein
referred to as “applicants”) apply in writing to the Trustee for the Securities of such series, and furnish to such Trustee reasonable proof that each such applicant has owned a Security for a period of at least six months preceding the
date of such application, and such application states that the applicants desire to communicate with other Holders of Securities of such series with respect to their rights under this Indenture or under the Securities and is accompanied by a copy of
the form of proxy or other communication which such applicants propose to transmit, then such Trustee shall, within five business days after the receipt of such application, at its election, either: 

(i) afford such applicants access to the information preserved at the time by such Trustee in accordance with
Section 702(a); or 
 (ii) inform such applicants as to the approximate number of Holders of Securities of such series
whose names and addresses appear in the information preserved at the time by such Trustee in accordance with Section 702(a), and as to the approximate cost of mailing to such Holders the form of proxy or other communication, if any, specified
in such application. 

  
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 If any such Trustee shall elect not to afford such applicants access to such information, such
Trustee shall, upon the written request of such applicants, mail to each Holder of Securities of such series whose name and address appear in the information preserved at the time by such Trustee in accordance with Section 702(a) a copy of the
form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to such Trustee of the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing,
unless within five days after such tender such Trustee shall mail to such applicants and file with the Commission, together with a copy of the material to be mailed, a written statement to the effect that, in the opinion of such Trustee, such
mailing would be contrary to the best interest of the Holders or would be in violation of applicable law. Such written statement shall specify the basis of such opinion. If the Commission, after opportunity for a hearing upon the objections
specified in the written statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such objections, the Commission shall find, after notice and opportunity for
hearing, that all the objections so sustained have been met and shall enter an order so declaring, such Trustee shall mail copies of such material to all such Holders with reasonable promptness after the entry of such order and the renewal of such
tender, otherwise such Trustee shall be relieved of any obligation or duty to such applicants respecting their application. 
 (c) Every
Holder of Securities of each series, by receiving and holding the same, agrees with the Issuer, the Guarantors and the Trustee for the Securities of such series that none of the Issuer, the Guarantors or such Trustee nor any agent of any of them
shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with Section 702(b), regardless of the source from which such information was derived, and that such
Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 702(b). 
 (d) The
U.S. Depositary may grant proxies and otherwise authorize its participants which own the Global Securities to give or take any Act which a Holder is entitled to take under the Indenture; provided, however, that the U.S. Depositary has
delivered a list of such participants to the Trustee for the Securities of such series. 
 SECTION 703. Reports by Trustee. 

(a) The Trustee for the Securities of each series shall transmit to Holders of Securities of each series for which such Trustee serves such
reports concerning such Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. If required by Section 313(a) of the Trust Indenture Act, the
Trustee for the Securities of each series shall, within sixty days after each May 15 following the date of this Indenture deliver to Holders of Securities of each series for which such Trustee serves a brief report, dated as of such
May 15, which complies with the provisions of such Section 313(a). 
 (b) A copy of each such report shall, at the time of such
transmission to Holders of Securities of each particular series be filed by each particular Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Issuer. The Issuer will promptly notify the Trustee
in writing when any Securities are listed on any stock exchange or of any delisting thereof. 

  
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 SECTION 704. Reports by IR Parent. 

IR Parent shall: 

(1) file with the Trustee for the Securities of each series, within 15 days after IR Parent is required to file the same with
the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which IR Parent may be
required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or if IR Parent is not required to file information, documents or reports pursuant to either of said Sections, then it shall file with such
Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the
Exchange Act, in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 

(2) file with the Trustee for the Securities of such series and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such additional information, documents and reports with respect to compliance by IR Parent with the conditions and covenants of this Indenture as may be required from time to time by such rules and
regulations; and 
 (3) transmit by mail to all Holders, as their names and addresses appear in the Security Register, within
30 days after the filing thereof with the Trustee for the Securities of such series, such summaries of any information, documents and reports required to be filed by IR Parent pursuant to paragraphs (1) and (2) hereof as may be required by
rules and regulations prescribed from time to time by the Commission. 
 Delivery of such reports, information and documents to the Trustee
for the Securities of each series is for informational purposes only and such Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including
the Issuer’s and the Guarantors’ compliance with any of their respective covenants hereunder (as to which such Trustee is entitled to rely exclusively on Officer’s Certificates). 

  
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 ARTICLE EIGHT 

CONSOLIDATION, MERGER, CONVEYANCE, SALE OR LEASE 

SECTION 801. Issuer and Guarantors May Consolidate, Etc., on Certain Terms. 

(a) The Issuer of any series of Securities shall not consolidate, amalgamate or merge with or into any other Person (whether or not affiliated
with such Issuer) and such Issuer or its successor or successors shall not be a party or parties to successive consolidations, amalgamations or mergers and such Issuer shall not sell, convey or lease all or substantially all of its property to any
other Person (whether or not affiliated with such Issuer) authorized to acquire and operate the same, unless (i) upon any such consolidation, amalgamation, merger, sale, conveyance or lease, the due and punctual payment of the principal of (and
premium, if any, on) and interest, if any, on all of the Securities of such series, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed by such Issuer
shall be expressly assumed, by supplemental indenture reasonably satisfactory in form to the Trustee for such series of Securities, executed and delivered to each such Trustee by the Person (if other than such Issuer) formed by such consolidation or
amalgamation, or into which such Issuer shall have been merged, or by the Person which shall have acquired or leased such property, and (ii) such Person shall be a solvent corporation, partnership, limited liability company, trust or any other
entity organized under the laws of the United States of America or a State thereof or the District of Columbia or Bermuda or of a Member State of the European Union. Such Issuer will not so consolidate, amalgamate or merge, or make any such sale,
lease or other disposition, and such Issuer will not permit any other Person to merge into such Issuer, unless immediately after the proposed consolidation, amalgamation, merger, sale, lease or other conveyance, and after giving effect thereto, no
default in the performance or observance by such Issuer or such successor Person, as the case may be, of any of the terms, covenants, agreements or conditions in respect of such series of Securities contained in this Indenture shall have occurred
and be continuing. 
 (b) Each Guarantor, if any, of any series of Securities shall not consolidate, amalgamate or merge with or into any
other Person (whether or not affiliated with such Guarantor) and such Guarantor and its successor or successors shall not be a party or parties to successive consolidations, amalgamations or mergers and such Guarantor shall not sell, convey or lease
all or substantially all of the property of such Guarantor to any other Person (whether or not affiliated with such Guarantor) authorized to acquire and operate the same, unless (i) upon any such consolidation, amalgamation, merger, sale,
conveyance or lease, the performance of the obligations under the Guarantee of such Guarantor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed by such Guarantor shall be
expressly assumed, by supplemental indenture reasonably satisfactory in form to the Trustee for each series of Securities, executed and delivered to each such Trustee by the Person (if other than the Issuer or a Guarantor for such series) formed by
such consolidation or amalgamation, or into which such Guarantor shall have been merged, or by the Person which shall have acquired or leased such property, and (ii) such Person shall be a solvent corporation, partnership, limited liability
company, trust or any other entity organized under the laws of the United States of America or a State thereof or the District of Columbia or Bermuda or of a Member State of the European Union. Furthermore, such Guarantor will not so consolidate,
amalgamate or merge, or make any such sale, lease or other conveyance, and such Guarantor will 

  
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not permit any other Person to merge into it, unless immediately after the proposed consolidation, amalgamation, merger, sale, lease or other conveyance, and after giving effect thereto, no
default in the performance or observance by such Guarantor or such successor Person, as the case may be, of any of the terms, covenants, agreements or conditions in respect of such series of Securities contained in this Indenture or the Guarantee of
such Guarantor to be performed by such Guarantor shall have occurred and be continuing. 
 SECTION 802. Securities to be Secured in
Certain Events. 
 Notwithstanding anything to the contrary contained in Section 801, if upon any such consolidation, amalgamation
or merger, or upon any such sale, conveyance or lease, any Principal Property or any shares of stock or Funded Indebtedness of any Restricted Subsidiary owned immediately prior thereto would thereupon become subject to any Mortgage (other than a
Mortgage to which such Principal Property or such shares of stock or Funded Indebtedness of such Restricted Subsidiary may become subject pursuant to Section 1004 hereof without equally and ratably securing the Securities) (the
“Triggering Mortgage”), IR Parent, prior to such consolidation, amalgamation, merger, sale, conveyance or lease, will by indenture supplemental hereto secure, or cause to be secured, the due and punctual payment of the principal of
(and premium, if any, on) and interest, if any, on the Securities (together with, if IR Parent shall so determine, any other indebtedness of or guarantee by IR Parent or such Restricted Subsidiary ranking equally with the Securities and then
existing or thereafter created) by a Mortgage on such Principal Property or such shares of stock or Funded Indebtedness of such Restricted Subsidiary, the lien of which, upon completion of said merger, consolidation, amalgamation, sale, conveyance
or lease, will rank prior to the lien of such Triggering Mortgage. 
 SECTION 803. Successor Corporation to be Substituted. 

(a) In respect of each series of Securities, upon any consolidation, amalgamation or merger of the Issuer with or into any other corporation
or corporations or any sale, conveyance or lease of all or substantially all of the property of the Issuer to any other corporation or corporations in accordance with this Article Eight, the successor shall succeed to, and be substituted for, and
may exercise every right and power of, the Issuer under this Indenture and such Securities with the same effect as if such successor had been named as the Issuer herein and therein, and thereafter, except in the case of a lease, the Issuer as the
predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities and the Issuer as the predecessor corporation may thereupon or at any time thereafter be dissolved, wound up or liquidated. 

(b) In respect of each series of Securities, subject to Section 801(b), upon any consolidation, amalgamation or merger of any Guarantor
with or into any other corporation or corporations or any sale, conveyance or lease of all or substantially all of the property of such Guarantor to any other corporation or corporations in accordance with this Article Eight, the successor shall
succeed to, and be substituted for, and may exercise every right and power of, such Guarantor under this Indenture, the Securities and the Guarantee of such Guarantor with the same effect as if such successor had been named as a Guarantor herein and
therein, and thereafter, except in the case of a lease, such Guarantor as predecessor corporation shall be relieved of all obligations and covenants under this Indenture and its Guarantee, and such Guarantor as the predecessor corporation may
thereupon or at any time thereafter be dissolved, wound up or liquidated. 

  
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 SECTION 804. Opinion of Counsel to be Given to Trustee. 

The Trustee for each series of Securities, subject to Section 601, shall receive an Opinion of Counsel as conclusive evidence that any
such consolidation, amalgamation, merger, sale, conveyance or lease and any such assumption complies with the provisions of this Article Eight. 

ARTICLE NINE 
 SUPPLEMENTAL
INDENTURES 
 SECTION 901. Supplemental Indentures without Consent of Holders. 

Without the consent of any Holders, the Issuer, the Guarantors and the Trustee for the Securities of any or all series, at any time and from
time to time, may enter into one or more indentures supplemental hereto, for any of the purposes set forth below in this Section 901. The terms of such supplemental indenture may be established by one or more duly appointed officers of the
Issuer and one or more duly appointed officers of the Guarantors acting pursuant to authority granted to such officers by the Board of Directors of the Issuer and by the Board of Directors of the Guarantors. A supplemental indenture, in form
reasonably satisfactory to the Trustee, may be entered into pursuant to this Section 901 for any of the following purposes: 

(1) to evidence the succession of another corporation, partnership, limited liability company, trust or any other entity to the
Issuer or any Guarantor and the assumption by any such successor of the covenants of the Issuer herein and in the Securities or the assumption by any such successor of the covenants of such Guarantor herein and in the Guarantee; or 

(2) to add to the covenants of the Issuer or the Guarantors for the benefit of the Holders of all or any series of Securities
(and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the
Issuer or the Guarantors, as applicable; or 
 (3) to add any additional Events of Default; or 

(4) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate
the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons; or 

(5) to change or eliminate any of the provisions of this Indenture; provided, that any such change or elimination shall
become effective only when there is no Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such provisions; or 

(6) to secure the Securities; or 

  
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 (7) to establish the form or terms of Securities of any series as permitted by
Sections 201 and 301; or 
 (8) to establish the form or terms of a related Guarantee as permitted by Sections 201 and 206;
or 
 (9) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the
Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of
Section 611(b); or 
 (10) to evidence and provide for the acceptance of appointment hereunder of a Trustee other than
The Bank of New York Mellon as Trustee for a series of Securities and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to the requirements of Section 609; or 
 (11) to provide for any rights of the Holders of Securities of any
series to require the repurchase of Securities of such series from the Issuer; or 
 (12) to cure any ambiguity, omission,
mistake or defect, to correct or supplement any provision herein which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture; provided such action shall
not adversely affect the interests of the Holders of Securities of any series in any material respect; or 
 (13) to continue
its qualification under the Trust Indenture Act or as may be necessary or desirable in accordance with amendments to the Trust Indenture Act; or 

(14) for any other reason specified pursuant to Section 301 with respect to the Securities of such series. 

SECTION 902. Supplemental Indentures with Consent of Holders. 

With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of any or all series affected by
such supplemental indenture (voting as one class), by Act of said Holders delivered to the Issuer, the Guarantors and the Trustee of each such series of Securities, the Issuer, when authorized by or pursuant to a Board Resolution of its Board of
Directors, the Guarantors, when authorized by or pursuant to a Board Resolution by the Guarantors’ Board of Directors, and each such Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security affected thereby: 
 (1) change the Stated
Maturity of the principal of, or any installment of principal of or interest, if any, on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount
of the principal of an Original Issue Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or change any Place of Payment where, or the coin or currency in which,
any Security or any premium or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date),
or release any Guarantor from any of its obligations under its Guarantee or modify such obligations otherwise than in accordance with the terms of this Indenture; 

  
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 (2) reduce the percentage in principal amount of the Outstanding Securities of
any series, the consent of whose Holders is required for any such supplemental indenture or the consent of whose Holders is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their
consequences provided for in this Indenture; 
 (3) make the Outstanding Securities of any series payable in currency other
than that stated herein; 
 (4) expressly subordinate in right of payment the Outstanding Securities of any series or a
Guarantee thereof; or 
 (5) modify any of the provisions of this Section, Section 513 or Section 1008, except to
increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this
clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section and Section 1008, or the deletion of this proviso, in accordance with
the requirements of Sections 609, 611(b), 901(9) and 901(10). 
 A supplemental indenture which changes or eliminates any covenant or other
provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other
provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
 It shall not
be necessary for any Act of Holders of any series of Securities under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

SECTION 903. Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, and supplemental indenture permitted by this Article Nine or the modifications
thereby of the trusts created by this Indenture, the Trustee for any series of Securities shall receive, and (subject to Section 601) shall be fully 

  
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protected in conclusively relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee for any series of
Securities may, but shall not be obligated to, enter into any such supplemental indenture which affects such Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

SECTION 904. Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article Nine, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes, and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

SECTION 905. Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article Nine shall conform to the requirements of the Trust Indenture Act as then in
effect. 
 SECTION 906. Reference in Securities to Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article Nine may, and
shall if required by the Trustee for the Securities of such series, bear a notation in form approved by such Trustee as to any matter provided for in such supplemental indenture. If the Issuer and the Guarantors shall so determine, new forms of the
Securities of any series and the Guarantees endorsed thereon modified as to conform, in the opinion of the Trustee for the Securities of such series, the Issuer and the Guarantors, to any supplemental indenture may be prepared and executed by the
Issuer and the Guarantors and authenticated and delivered by such Trustee in exchange for Outstanding Securities of such series. 
 ARTICLE
TEN 
 COVENANTS 

SECTION 1001. Payment of Principal, Premium and Interest. 

The Issuer covenants and agrees for the benefit of each series of Securities for which it is the Issuer that it will duly and punctually pay
the principal of (and premium, if any, on) and interest, if any, on the Securities of that series in accordance with the terms of the Securities and this Indenture. 

SECTION 1002. Maintenance of Office or Agency. 

The Issuer will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be
presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Issuer in respect of the Securities of that series and this Indenture may
be served. The Issuer will give prompt written notice to the Trustee for Securities of that series of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office
or agency or shall fail to furnish the 

  
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Trustee for the Securities of that series with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of such Trustee, and
the Issuer hereby appoints such Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Issuer may
also from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Issuer will give prompt written
notice to the Trustee for the Securities of each series of any such designation or rescission and of any change in the location of any such other office or agency. 

SECTION 1003. Money for Securities Payments to Be Held in Trust. 

If the Issuer shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of
the principal of (and premium, if any, on) or interest, if any, on any of the Securities of that series, segregate and hold in trust for the benefit of the persons entitled thereto a sum sufficient to pay the principal (and premium, if any, on) or
interest, if any, so becoming due until such sums shall be paid to such persons or otherwise disposed of as herein provided and will promptly notify the Trustee for the Securities of such series of its action or failure so to act. 

Whenever the Issuer shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the principal of
(and premium, if any, on) or interest, if any, on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any, on) or interest so becoming due, such sum to be held in trust for the benefit of
the persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee for the Securities of such series) the Issuer will promptly notify such Trustee of its action or failure so to act. 

The Issuer will cause each Paying Agent for any series of Securities other than the Trustee for the Securities of such series to execute and
deliver to such Trustee an instrument in which such Paying Agent shall agree with such Trustee, subject to the provisions of this Section, that such Paying Agent will: 

(1) hold all sums held by it for the payment of the principal of (and premium, if any, on) or interest, if any, on Securities
of that series in trust for the benefit of the persons entitled thereto until such sums shall be paid to such persons or otherwise disposed of as herein provided; 

(2) give such Trustee notice of any default by the Issuer (or any other obligor upon the Securities of that series) in the
making of any payment of principal of (and premium, if any, on) or interest, if any, on the Securities of that series; and 

(3) at any time during the continuance of any such default, upon the written request of such Trustee, forthwith pay to such
Trustee all sums so held in trust by such Paying Agent. 

  
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 The Issuer may at any time, for the purpose of obtaining the satisfaction and discharge of this
Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee for the Securities of any series all sums held in trust by the Issuer or such Paying Agent, such sums to be held by such Trustee upon the
same trusts as those upon which such sums were held by the Issuer or such Paying Agent; and, upon such payment by any Paying Agent to such Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Any money deposited with the Trustee or any Paying Agent for the Securities of any series, or then held by the Issuer or the Guarantors, in
trust for the payment of the principal of (and premium, if any, on) or interest, if any, on any Security of any series and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be
paid to the Issuer or the Guarantors on Company Request, or, if then held by the Issuer or the Guarantors, shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the
Issuer or the Guarantors, as the case may be, for payment thereof, and all liability of such Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer or the Guarantors, as the case may be, as trustee thereof,
shall thereupon cease; provided, however, that such Trustee or such Paying Agent, before being required to make any such repayment, shall at the expense of the Issuer cause to be published once, in a newspaper published in the English
language, customarily published on each Business Day and of general circulation in the City, County and State of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from
the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Issuer or the Guarantors, as the case may be. 

SECTION 1004. Limitation on Liens. 

(a) IR Parent covenants and agrees for the benefit of each series of Securities, other than any series established by or pursuant to a Board
Resolution or an Officer’s Certificate of the Issuer of such series or in one or more supplemental indentures hereto which specifically provides otherwise, that IR Parent will not, and will not permit any Restricted Subsidiary to, create,
assume or guarantee any indebtedness for money borrowed secured by a Mortgage (i) on any Principal Property of IR Parent or of a Restricted Subsidiary or (ii) on any shares or Funded Indebtedness of a Restricted Subsidiary (whether such
Principal Property, shares or Funded Indebtedness are now owned or hereafter acquired) without, in any such case, effectively providing concurrently with the creation, assumption or guaranteeing of such indebtedness that the Securities (together, if
IR Parent shall so determine, with any other indebtedness then or thereafter existing, created, assumed or guaranteed by IR Parent or such Restricted Subsidiary ranking equally with the Securities) shall be secured equally and ratably with (or prior
to) such indebtedness; excluding, however, from the foregoing any indebtedness secured by a Mortgage (including any extension, renewal or replacement, or successive extensions, renewals or replacements, of any Mortgage hereinafter specified or any
indebtedness secured thereby, without increase of the principal of such indebtedness or expansion of the collateral securing such indebtedness): 

(1) on property, shares or Funded Indebtedness of any Person existing at the time such Person becomes a Restricted Subsidiary;
or 

  
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 (2) on property existing at the time of acquisition thereof by IR Parent or a
Restricted Subsidiary, or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price thereof or construction or improvements thereon, which indebtedness is incurred by IR Parent or a Restricted Subsidiary
prior to, at the time of or within 180 days after the later of the acquisition, the completion of construction (including any improvements on an existing property) and the commencement of commercial operation of such property; provided,
however, that in the case of any such acquisition, construction or improvement the Mortgage shall not apply to any property theretofore owned by IR Parent or a Restricted Subsidiary, other than, in the case of any such construction or
improvement, any theretofore unimproved real property on which the property so constructed, or the improvement, is located; or 

(3) on property, shares or Funded Indebtedness of a Person existing at the time such Person is merged into or consolidated with
IR Parent or a Restricted Subsidiary, or at the time of a sale, lease or other disposition of the properties of a Person as an entirety or substantially as an entirety to IR Parent or a Restricted Subsidiary; or 

(4) on property of a Restricted Subsidiary to secure indebtedness of such Restricted Subsidiary to IR Parent or another
Restricted Subsidiary; or 
 (5) on property of IR Parent or a Restricted Subsidiary in favor of the United States of America
or any State thereof or Bermuda or the jurisdiction of organization of IR Parent, or any department, agency or instrumentality or political subdivision of the United States of America or any State thereof, Bermuda or the jurisdiction of organization
of IR Parent, to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price or the cost of constructing or
improving the property subject to such Mortgage; or 
 (6) existing at the date of this Indenture; 

provided, however, that any Mortgage permitted by any of the foregoing clauses (1), (2), (3) and (5) of this Section 1004(a)
shall not extend to or cover any property of IR Parent or such Restricted Subsidiary, as the case may be, other than the property specified in such clauses and improvements thereto. 

(b) Notwithstanding the provisions of subsection (a) of this Section 1004, IR Parent or any Restricted Subsidiary may create, assume
or guarantee secured indebtedness for money borrowed which would otherwise be prohibited in said subsection (a) in an aggregate amount which, together with all other such indebtedness for money borrowed of IR Parent and its Restricted
Subsidiaries and the Attributable Debt of IR Parent and its Restricted Subsidiaries in respect of Sale and Leaseback Transactions (as defined in Section 1005) existing at such time (other than Sale and Leaseback Transactions entered into prior
to the date of this Indenture and Sale and Leaseback Transactions the proceeds of which have been applied in accordance with clause (b) of Section 1005), does not at the time exceed 10% of the shareholders’ equity in IR Parent and its
consolidated Subsidiaries, as shown on the audited consolidated balance sheet contained in the latest annual report to shareholders of IR Parent. 

  
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 (c) For the purposes of this Article Ten, 

(1) the term “Attributable Debt” shall mean, as of any particular time, the lesser of (i) the fair value of the
property subject to the applicable sale and leaseback transaction (as determined by the board of directors of IR Parent) and (ii) the then present value (discounted at a rate equal to the weighted average of the rate of interest on all
securities issued by IR Global then issued and outstanding under this Indenture, compounded semi-annually) of the total net amount of rent required to be paid under such lease during the remaining term thereof (excluding any renewal term unless the
renewal is at the option of the lessor) or, if earlier, until the earliest date on which the lessee may terminate such lease upon payment of a penalty (in which case the obligation of the lessee for rental payments shall include such penalty). The
net amount of rent required to be paid for any such period shall be the aggregate amount of the rent payable by the lessee with respect to such period after excluding amounts required to be paid on account of, or measured or determined by, any
variable factor, including, without limitation, the cost-of-living index and costs of maintenance and repairs, insurance, taxes, assessments, water rates and similar charges and after excluding any portion of rentals based on a percentage of sales
made by the lessee. In the case of any lease which is terminable by the lessee upon the payment of a penalty, such net amount shall also include the amount of such penalty, but no rent shall be considered as required to be paid under such lease
subsequent to the first date upon which it may be so terminated; 
 (2) the term “shareholders’ equity in IR Parent
and its consolidated Subsidiaries” shall mean the share capital, share premium, contributed surplus and retained earnings of IR Parent and its consolidated Subsidiaries, excluding the cost of shares of IR Parent held by its Affiliates, all as
determined in accordance with GAAP; and 
 (3) the term “Mortgage” on any specified property shall mean any
mortgage, lien, pledge, charge or other security interest or encumbrance of any kind in respect of such property. 
 SECTION 1005.
Limitation on Sale and Leaseback Transactions. 
 IR Parent covenants and agrees for the benefit of each series of Securities, other
than any series established by or pursuant to a Board Resolution or an Officer’s Certificate of the Issuer of such series or in one or more supplemental indentures hereto which specifically provides otherwise, that IR Parent will not, and will
not permit any Restricted Subsidiary to, enter into any arrangement with any person for the leasing by IR Parent or a Restricted Subsidiary (except for leases for a term of not more than three years and for leases of a part of a Principal Property
which has been sold, for use in connection with the winding up or termination of the business conducted on such Principal Property, and except, in the case of a Restricted Subsidiary, a lease to IR Parent or another Restricted Subsidiary) of any
Principal Property (whether now owned or hereafter acquired), which Principal Property has been or is intended to be sold or transferred by IR Parent or such Restricted Subsidiary to such person (herein referred to as a “Sale and Leaseback
Transaction”), unless (a) IR Parent or such Restricted Subsidiary would be entitled, pursuant to the provisions of Section 1004, to incur indebtedness secured by a Mortgage on such

  
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Principal Property without equally and ratably securing the Securities, or (b) IR Parent shall (and in any such case IR Parent covenants that it will) apply within 180 days of the effective
date of any such Sale and Leaseback Transaction an amount equal to the fair value (as determined by its Board of Directors) of such Principal Property so leased (i) to the retirement (other than by payment at maturity or to satisfy the
mandatory requirements of any sinking, purchase or analogous fund or prepayment provision) of the Securities or other Funded Indebtedness of IR Parent or any Restricted Subsidiary ranking on a parity with the Securities, provided,
however, that the amount to be applied to the retirement of any Funded Indebtedness as provided under this clause (i) shall be reduced by (x) the principal amount of any Securities delivered within 180 days after such sale or transfer
to the Trustee for the Securities of such series for retirement and cancellation and (y) the principal amount of other Funded Indebtedness ranking on a parity with the Securities voluntarily retired by IR Parent within 180 days after such sale
or transfer; or (ii) to the purchase, improvement or construction of properties which are Principal Properties, provided, that if only a portion of such proceeds is designated as a credit against such purchase, improvement or
construction, IR Parent shall apply an amount equal to the remainder as provided in clause (i); and promptly after the expiration of such 180-day period IR Parent shall have delivered to the Trustee for the Securities of such series an
Officer’s Certificate setting forth in reasonable detail all material facts necessary to show compliance with this subsection. 

SECTION 1006. Defeasance of Certain Obligations. 

Upon the Issuer’s exercise of its option, if any, to have this Section 1006 applied to any Securities or any series of Securities
issued by such Issuer, or if this Section 1006 shall otherwise apply to any Securities or any series of Securities issued by such Issuer, each of the Issuer and the Guarantors may omit to comply with, and shall have no liability in respect of,
any term, provision or condition set forth in Sections 802, 1004 and 1005 (and each of the Issuer and the Guarantors may omit to comply with, and shall have no liability in respect of any other provision or condition specified pursuant to
Section 301(14) for such Securities) with respect to the Securities of any series whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant, to any other provision herein or in any other document and such
omission to comply shall not constitute a Default or Event of Default under Section 501(4) or otherwise, as the case may be; provided that the following conditions shall have been satisfied: 

(1) The Issuer has deposited or caused to be irrevocably deposited (except as provided in Section 402(c) and the last
paragraph of Section 1003) with the Trustee for the Securities of such series (specifying that each deposit is pursuant to this Section 1006) as trust funds in trust, specifically pledged as security for, and dedicated solely to, the
benefit of the Holders of the Securities of such series, (i) money in an amount, or (ii) (except as provided in a supplemental indenture with respect to such series) if Securities of such series are not subject to repurchase at the option
of such Holders, (A) U.S. Government Obligations which through the payment of interest and principal in respect thereof in accordance with their terms will provide not later than one day before the due date of any payment referred to in clause
(x) or (y) of this subparagraph (1) money in an amount, or (B) a combination of the foregoing, sufficient, in the opinion of a nationally recognized firm of independent certified public accountants expressed in a written
certification thereof delivered to such Trustee, to pay and discharge (x) the principal of (and premium, if any, on) and each installment of principal of (and premium, if any, on) 

  
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and interest, if any, on the Outstanding Securities of such series on the Stated Maturity of such principal or installment of principal or interest or to and including the Redemption Date
irrevocably designated by the Issuer pursuant to subparagraph (4) of this Section and (y) any mandatory sinking fund payments applicable to the Securities of such series on the day on which such payments are due and payable in accordance
with the terms of the Indenture and of the Securities of such series; 
 (2) No Event of Default or event which, with notice
or lapse of time or both, would become an Event of Default (including by reason of such deposit) with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit; 

(3) The Issuer shall have delivered to such Trustee an Opinion of Counsel to the effect that Holders of the Securities of such
series will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and defeasance of certain obligations and that no Event of Default or default shall have occurred and be continuing; and 

(4) If the Issuer has deposited or caused to be deposited money or U.S. Government Obligations or a combination thereof to pay
or discharge the principal of (and premium, if any, on) and interest, if any, on the Outstanding Securities of a series to and including a Redemption Date on which all of the Outstanding Securities of such series are to be redeemed, such Redemption
Date shall be irrevocably designated by a Board Resolution of the Issuer or delivered to such Trustee on or prior to the date of deposit of such money or U.S. Government Obligations, and such Board Resolution shall be accompanied by an irrevocable
Company Request that such Trustee give notice of such redemption in the name and at the expense of the Issuer and not less than 30 nor more than 60 days prior to such Redemption Date in accordance with Section 1104. 

SECTION 1007. Statement by Officer as to Default. 

IR Parent will deliver to the Trustee for each series of Securities, on or before May 15 in each year ending after the date hereof, an
Officer’s Certificate (one of the signatories of which shall be the principal executive officer, principal accounting officer or principal financial officer of IR Parent) stating that in the course of the performance by such signer of his or
her duties as an officer of IR Parent, he would normally have knowledge of any default (without regard to periods of grace or notice requirements) by the Issuer or the Guarantors in the performance and observance of any of their respective covenants
contained in this Indenture, and stating whether or not he has knowledge of any such default and, if so, specifying each such default of which such signer has knowledge and the nature thereof. 

IR Parent covenants to deliver to the Trustee, for each series of Securities, as soon as possible and in any event within five Business Days
after IR Parent becomes aware of the occurrence of any Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of Default, an Officer’s Certificate setting forth the details of such Event of
Default or default and the action which IR Parent, the Issuer and the Guarantors, as applicable, propose to take with respect thereto. 

  
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 SECTION 1008. Waiver of Certain Covenants. 

Each of the Issuer and the Guarantors may omit in any particular instance to comply with any term, provision or condition set forth in
Sections 802, 1004 and 1005 (and each of the Issuer and the Guarantors may omit in any particular instance to comply with any term, provision or condition specified pursuant to Section 301(14) for such Securities) if before the time for such
compliance the Holders of at least a majority in principal amount of the Outstanding Securities of all series affected by such omission (voting as one class) shall, by Act of such Holders, either waive such compliance in such instance or generally
waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the
Issuer and the Guarantors, as the case may be, and the duties of the Trustee for the Securities of each series in respect of any such term, provision or condition shall remain in full force and effect. 

SECTION 1009. Calculation of Original Issue Discount. 

The Issuer shall file with the Trustee for the Original Issue Discount Securities of each series promptly at the end of each calendar year
(i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on the Outstanding Securities as of the end of such year and (ii) such other specific information relating to such
original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time. 
 ARTICLE ELEVEN 

REDEMPTION OF SECURITIES 

SECTION 1101. Applicability of Article. 

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article Eleven. 

SECTION 1102. Election to Redeem; Notice to Trustee. 

The election of the Issuer to redeem any Securities of any series shall be evidenced by an Officer’s Certificate. In case of any
redemption at the election of the Issuer of the Securities of any series, the Issuer shall, at least 60 days prior to the Redemption Date fixed by the Issuer (unless a shorter notice shall be reasonably satisfactory to the Trustee for the Securities
of such series), notify such Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed, such notice to be accompanied by a written statement signed by an authorized officer of the Issuer stating that no
defaults in the payment of interest or Events of Default with respect to the Securities of that series have occurred (which have not been waived or cured). In the case of any redemption of Securities prior to the expiration of any restriction on
such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Issuer shall furnish the Trustee for the Securities of such series with an Officer’s Certificate evidencing compliance with such restriction. 

  
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 SECTION 1103. Selection of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed, the Securities of that series to be redeemed shall be selected on a pro rata
basis not more than 60 days prior to the Redemption Date by the U.S. Depositary or the Trustee, as applicable, for the Securities of such series, from the Outstanding Securities of such series not previously called for redemption. 

Securities shall be excluded from eligibility for selection for redemption if they are identified by registration and certificate number in a
written statement signed by an authorized officer of the Issuer and delivered to the Trustee for the Securities of such series at least 60 days prior to the Redemption Date as being owned of record and beneficially by, and not pledged or
hypothecated by either (a) the Issuer or the Guarantors or (b) an entity specifically identified in such written statement that is an Affiliate of the Issuer or the Guarantors. 

The Trustee for the Securities of such series shall promptly notify the Issuer and the Guarantors in writing of the Securities selected for
redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed. 
 For all
purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of
such Securities which has been or is to be redeemed. 
 SECTION 1104. Notice of Redemption. 

Notice of redemption shall be given by electronic delivery or first-class mail, postage prepaid, delivered or mailed not less than 30 nor more
than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, at his or her address appearing in the Security Register or otherwise in accordance with the procedures of the U.S. Depositary. 

All notices of redemption shall identify the Securities (including CUSIP numbers) to be redeemed and shall state: 

(1) the Redemption Date; 

(2) the Redemption Price; 

(3) if less than all the Outstanding Securities of any series are to be redeemed, the identification (and, in the case of
partial redemption, the principal amounts) of the particular Securities to be redeemed; 
 (4) that on the Redemption Date
the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date; 

(5) the place or places where such Securities are to be surrendered for payment of the Redemption Price; and 

(6) that the redemption is for a sinking fund, if such is the case. 

  
 75 

 Notice of redemption of Securities to be redeemed at the election of the Issuer shall be given by
the Issuer or, at the Issuer’s written request and expense, by the Trustee for such Securities in the name and at the expense of the Issuer. 

SECTION 1105. Deposit of Redemption Price. 

At least one Business Day prior to any Redemption Date, the Issuer shall deposit with the Trustee for the Securities to be redeemed or with a
Paying Agent (or, if the Issuer is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest
Payment Date) accrued interest on, all the Securities which are to be redeemed on that date (to the extent that such amounts are not already on deposit at such time in accordance with the provisions of Section 401, 403 or 1006). 

SECTION 1106. Securities Payable on Redemption Date. 

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at
the Redemption Price therein specified, and from and after such date (unless the Issuer shall default in the payment of the Redemption Price and accrued and unpaid interest) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Issuer at the Redemption Price, together with accrued and unpaid interest to the Redemption Date; provided, however, that installments of
interest whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to
their terms and the provisions of Section 307. 
 If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

SECTION 1107. Securities Redeemed in Part. 

Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Issuer or the Trustee for
such Security so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Issuer and such Trustee duly executed by, the Holder thereof or his or her attorney duly authorized in writing), and the Issuer shall
execute, and such Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series, and having endorsed thereon the Guarantees executed by the Guarantors of any authorized
denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 

  
 76 

 ARTICLE TWELVE 

SINKING FUNDS 
 SECTION 1201.
Applicability of Article. 
 The provisions of this Article Twelve shall be applicable to any sinking fund for the retirement of
Securities of a series except as otherwise specified as contemplated by Section 301 for Securities of such series. 
 The minimum
amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities
of any series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202.
Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 

SECTION 1202. Satisfaction of Sinking Fund Payments with Securities. 

In lieu of making all or any part of any mandatory sinking fund payment with respect to any series of Securities in cash, the Issuer may at
its option (a) deliver to the Trustee for such Securities, Securities of such series theretofore purchased or otherwise acquired (except upon redemption pursuant to the mandatory sinking fund) by the Issuer or receive credit for Securities of
such series (not previously so credited) theretofore purchased or otherwise acquired (except as aforesaid) by the Issuer and delivered to such Trustee for cancellation pursuant to Section 309, (b) receive credit for optional sinking fund
payments (not previously so credited) made pursuant to this Section, or (c) receive credit for Securities of such series (not previously so credited) redeemed by the Issuer through any optional redemption provision contained in the terms of
such series. Securities so delivered or credited shall be received or credited by such Trustee at the sinking fund redemption price specified in such Securities. 

SECTION 1203. Redemption of Securities for Sinking Fund. 

Not less than 60 days prior to each sinking fund payment date for any series of Securities, the Issuer will deliver to the Trustee for the
Securities of such series an Officer’s Certificate (which need not contain the statements required by Section 102) stating that no defaults in the payment of interest, if any, with respect to Securities of that series and no Events of
Default with respect to Securities of that series have occurred (which in either case have not been waived or cured) and (a) specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series,
(b) whether or not the Issuer intends to exercise its right, if any, to make an optional sinking fund payment with respect to such series on the next ensuing sinking fund payment date and, if so, the amount of such optional sinking fund
payment, and (c) the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities of that series pursuant to Section 1202, and will
also deliver to such Trustee any Securities to be so delivered. Such written statement shall be irrevocable and upon its receipt by such Trustee the Issuer shall become unconditionally obligated to make all the cash payments or payments therein
referred to, 

  
 77 

 
if any, on or before the next succeeding sinking fund payment date. Failure of the Issuer, on or before any such 60th day, to deliver such written statement and Securities specified in this
paragraph, if any, shall not constitute a default but shall constitute, on and as of such date, the irrevocable election of the Issuer (i) that the mandatory sinking fund payment for such series due on the next succeeding sinking fund payment
date shall be paid entirely in cash without the option to deliver or credit Securities of such series in respect therefor and (ii) that the Issuer will make no optional sinking fund payment with respect to such series as provided in this
Section. 
 Not less than 30 days before each such sinking fund payment date the Securities of such series to be redeemed upon such sinking
fund payment date shall be redeemed in the manner specified in Section 1103 and the Trustee shall cause notice of the redemption thereof to be given in the name of and at the expense of the Issuer in the manner provided in Section 1104.
Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1105, 1106 and 1107. 

The Trustee for any series of Securities shall not redeem or cause to be redeemed any Security of such series with sinking fund moneys or
deliver or mail any notice of redemption of Securities of such series by operation of the sinking fund during the continuance of a default in payment of interest with respect to Securities of that series or an Event of Default with respect to the
Securities of that series except that, where the delivery or mailing of notice of redemption of any Securities shall theretofore have been made, such Trustee shall redeem or cause to be redeemed such Securities; provided, that it shall have
received from the Issuer a sum sufficient for such redemption. Except as aforesaid, any moneys in the sinking fund for such series at the time when any such default or Event of Default, shall occur, and any moneys thereafter paid into the sinking
fund, shall, during the continuance of such default or Event of Default, be deemed to have been collected under Article Five and held for the payment of all such Securities. In case such Event of Default shall have been waived as provided in
Section 513 or the default or Event of Default cured on or before the 60th day preceding the sinking fund payment date, such moneys shall thereafter be applied on the next succeeding sinking fund payment date in accordance with this Section to
the redemption of such Securities. 
 ARTICLE THIRTEEN 

GUARANTEE 
 SECTION 1301.
Guarantee. 
 (a) Subject to the provisions of this Article Thirteen and for good and valuable consideration, the receipt of which is
hereby acknowledged, each of the Guarantors hereby jointly and severally, fully and unconditionally guarantees to each Holder of a Security of each series authenticated and delivered by the Trustee for such Securities hereunder and to such Trustee
for itself and on behalf of each such Holder, the due and punctual payment of principal of (and premium, if any, on) and interest on the Securities when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of
acceleration, call for redemption or otherwise, and all other amounts owed under this Indenture, according to the terms thereof and of this Indenture. In case of the failure of the Issuer promptly to make any such payment of principal (and premium,
if any, on) or interest, the Guarantors hereby agree to make any such payment to be made promptly when and as the same shall become due and payable, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise,
and as if such payment were made by the Issuer. 

  
 78 

 (b) The Guarantors hereby agree that their obligations hereunder shall be as if they were
principal debtor and not merely surety, and shall be absolute and unconditional, joint and several, irrespective of, and shall be unaffected by any failure to enforce the provisions of such Security or this Indenture, or any waiver, modification or
indulgence granted to the Issuer with respect thereto, by the Holder of such Security or the Trustee for the Securities of such series or any other circumstance which may otherwise constitute a legal or equitable discharge of a surety or guarantor;
provided, however, that, notwithstanding the foregoing, no such waiver, modification or indulgence shall, without the consent of the Guarantors increase the principal amount of such Security, or increase the interest rate thereon, or
increase any premium payable upon redemption thereof, or alter the Stated Maturity thereof, or increase the principal amount of any Original Issue Discount Security that would be due and payable upon a declaration of acceleration or the maturity
thereof pursuant to Article Five of this Indenture. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Issuer, any right to require a proceeding first
against the Issuer, protest or notice with respect to such Security or the indebtedness evidenced thereby or with respect to any sinking fund or analogous payment required under such Security and all demands whatsoever, and covenants that the
Guarantee of such Guarantor will not be discharged except by payment in full of the principal of (and premium, if any, on) and interest on such Security or as otherwise set forth in this Indenture; provided, that if any Holder or the Trustee
is required by any court or otherwise to return to the Issuer, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Issuer or the Guarantors any amount paid either to the Trustee or such
Holder, the Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 
 (c) The Guarantors shall be
subrogated to all rights of the Holder of such Security and the Trustee for the Securities of such series against the Issuer in respect of any amounts paid to such Holder by the Guarantors pursuant to the provisions of this Guarantee;
provided, however, that the Guarantors shall not be entitled to enforce or to receive any payments arising out of or based upon such right of subrogation until the principal of (and premium, if any, on) and interest on all Securities
of the same series issued under the Indenture shall have been paid in full. 
 SECTION 1302. Execution and Delivery of
Guarantee. 
 Each Guarantee to be endorsed on the Securities of each series shall include the terms of the Guarantee set forth in
Section 1301 and any other terms that may be set forth in the form established pursuant to Section 206 with respect to such series. Each Guarantor hereby agrees to execute a Guarantee, in a form established pursuant to Section 206, to
be endorsed on each Security authenticated and delivered by the Trustee for the Securities of such series. 
 Each Guarantee shall be
executed in accordance with Section 303. The delivery of any Security by the Trustee for the Securities of such series, after the authentication thereof hereunder, shall constitute due delivery of the Guarantees endorsed thereon on behalf of
the Guarantors. Each Guarantor hereby agrees that its Guarantee set forth in Section 1301 shall remain in full force and effect notwithstanding any failure to endorse a Guarantee on any Security. 

  
 79 

 SECTION 1303. Notice to Trustee. 

Each Guarantor shall give prompt written notice to the Trustee for the Securities of such series of any fact known to such Guarantor which
prohibits the making of any payment to or by such Trustee in respect of the Guarantee pursuant to the provisions of this Article Thirteen other than any agreement in effect on the date hereof. 

SECTION 1304. This Article Not to Prevent Events of Default. 

The failure to make a payment on account of principal of (and premium, if any, on) or interest on the Securities by reason of any provision of
this Article Thirteen will not be construed as preventing the occurrence of an Event of Default. 
 SECTION 1305. Amendment,
Etc. 
 No amendment, modification or waiver of any provision of this Indenture relating to the Guarantors or consent to any departure
by a Guarantor or any other Person from any such provision will in any event be effective unless it is signed by such Guarantor and the Trustee for the Securities of such series. 

SECTION 1306. Limitation on Liability. 

With respect to each Guarantor, the obligations of such Guarantor hereunder will be limited to the maximum amount, as will not result in the
obligations of such Guarantor under its Guarantee constituting a fraudulent conveyance or fraudulent transfer, after giving effect to all other relevant liabilities of such Guarantor. 

[Remainder of page left intentionally blank.] 

  
 80 

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

					
	INGERSOLL-RAND PLC
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	INGERSOLL-RAND LUXEMBOURG FINANCE S.A.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	INGERSOLL-RAND COMPANY LIMITED
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	INGERSOLL-RAND INTERNATIONAL HOLDING LIMITED
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	INGERSOLL-RAND GLOBAL HOLDING COMPANY LIMITED
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 81 

 
					
	INGERSOLL-RAND COMPANY
		
	By:	 	  

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

		 	Name:	 	
		 	Title:	 	

  
 82celsciexh10_kk.htm

EXHIBIT 10 (kk)

 

 

WARRANT AGENT AGREEMENT

 

This Agreement, dated as of December 12, 2013, is between CEL-SCI Corporation, a Colorado corporation (the “Company”), and Computershare, Inc., a Delaware corporation (“Computershare”), and its wholly owned subsidiary Computershare Trust Company N.A., a federally chartered trust company (collectively the “Warrant Agent”).

 

WHEREAS, the Company has previously sold to public investors warrants (“Old Warrants”) to purchase up to 20,475,000 shares of the Company’s common stock, pursuant to a registration statement on Form S-3 (File No. 333-184094).

 

WHEREAS, the Company is offering holders of Old Warrants the opportunity to exchange the Old Warrants for new warrants (“Warrants”), on a one for one basis, which have identical terms (the “Exchange”).  Each Warrant is exercisable to purchase one share of Common Stock upon the terms and conditions and subject to adjustment in certain circumstances, all as set forth in this Agreement.

 

WHEREAS, the Company wishes to retain the Warrant Agent to act as exchange agent on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the exchange of the certificates evidencing the Old Warrants for certificates evidencing the Warrants to be issued under this Agreement (each a “Warrant Certificate” and collectively, the “Warrant Certificates”).

 

WHEREAS, the Company wishes to retain the Warrant Agent to act as warrant agent on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, transfer, exchange and replacement of the Warrant Certificates and the exercise of the Warrants.

 

WHEREAS, the Company and the Warrant Agent wish to enter into this Agreement to set forth the terms and conditions of the Warrants and the rights of the holders thereof (each a “Warrant Holder” and collectively, the “Warrant Holders”) and to set forth the respective rights and obligations of the Company and the Warrant Agent.  Each Warrant Holder is an intended beneficiary of this Agreement with respect to the rights of Warrant Holders herein.

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereto agree as follows:

 

1A.         Exchange.

 

(a)           The time at which the Exchange shall commence is referred to in this Agreement as the “Effective Time.”  The Company shall inform the Warrant Agent of the Effective Time at least five business days prior thereto.

 

(b)           The Company has furnished the Warrant Agent, or will furnish the Warrant Agent prior to the Effective Time, with copies of the following documents:

 

 

  

1

  

 

 

(i)          a letter from the [President and Chief Executive Officer] of the Company, to holders of the Old Warrants, announcing the commencement of the Exchange;

 

(ii)         the letter of transmittal (the “Letter of Transmittal”) to accompany certificates for Old Warrants when surrendered for exchange (such Letter of Transmittal to be in a form supplied by the Warrant Agent, and subject to any modifications by the Company that are acceptable to the Warrant Agent);

 

(iii)        confirmation that the Company, as warrant agent for the Old Warrants, has closed the transfer books for Old Warrants at the Effective Time (and if the Company retroactively reopens the transfer books for a special transaction, the Company agrees to send a copy of the transaction journal covering that transaction to the Warrant Agent as promptly as practicable);

 

(iv)        a certified list, in a format acceptable to the Warrant Agent, of holders of Old Warrants of record at the Effective Time, including each such holder’s name, address, taxpayer identification number, Old Warrant amount with applicable tax lot detail, any certificate detail and information regarding any applicable account stops or blocks (the “Record Old Warrantholders List”); and

 

(v)        a sufficient number of Warrant Certificates, substantially in the form set forth in Exhibit B attached to this Agreement, signed, or bearing a facsimile signature, as set forth in Section 3.

 

(c)            Subject to the terms and conditions of this Agreement, the Company’s confirmation of the Effective Time pursuant to Section 1(a) hereof and the Warrant Agent’s receipt of the items set forth in Section 1(b), the Warrant Agent in its capacity as exchange agent hereunder shall:

 

(i)           mail, by first class mail, each of the documents described in Sections 1(b)(i) and 1(b)(ii) above, together with a return envelope, to holders of Old Warrants set forth in the Record Old Warrantholders List;

 

(ii)          accept certificates representing Old Warrants, together with the accompanying Letters of Transmittal, sent to the Warrant Agent by such holders for exchange; and

 

(iii)         issue certificates representing Warrants to such holders reflecting the Warrants issued in the Exchange or, if such Warrants are to be held through DTC, credit the Warrant holder’s account with DTC reflecting the Warrants issued in the Exchange.  For the avoidance of doubt, the number of Warrants issued to each holder shall be equal (on a one for one basis) to the number of Old Warrants surrendered by such holder in connection with the Exchange.

 

 

  

2

  

 

 

(d)           Procedure for Discrepancies.  The Warrant Agent shall follow its regular procedures to attempt to reconcile any discrepancies between the number of certificated Old Warrants that any Letter of Transmittal may indicate are owned by a surrendering holder and the number that the Record Old Warrantholders List indicates such holder owned of record as of the Effective Time.  In any instance where the Warrant Agent cannot reconcile such discrepancies by following such procedures, the Warrant Agent will consult with the Company for instructions as to the number of certificated Old Warrants, if any, the Warrant Agent is authorized to accept for exchange.  In the absence of such instructions, the Warrant Agent is authorized not to accept any such certificated Old Warrants for exchange and will return to the surrendering holder in accordance with its standard procedures to such holder’s address as set forth in the Letter of Transmittal any certificates for Old Warrants surrendered in connection therewith, the related Letters of Transmittal and any other documents received with such certificates for Old Warrants.

 

(e)           Lost Certificates.  If any holder of Old Warrants as of the Effective Time reports to the Warrant Agent that his or her failure to surrender a certificate representing any Old Warrants registered in his or her name at the Effective Time according to the Record Old Warrantholders List is due to the theft, loss or destruction of such certificate, upon the Warrant Agent’s receipt from such holder of (a) an affidavit of such theft, loss or destruction, (b) a bond of indemnity in form and substance satisfactory to the Warrant Agent, and (c) payment of all applicable fees, the Warrant Agent will issue certificates representing Warrants or credit the Warrant holder’s account with DTC, in accordance with Section 1(c)(3) hereof, as though the certificate for Old Warrants had been surrendered.  The Warrant Agent may charge holders an administrative fee for processing payment with respect to Old Warrants represented by lost certificates, which shall be charged only once in instances where a single surety bond obtained covers multiple certificates in a single account.  Holders of Old Warrants may obtain a bond of indemnity from a surety company of their choice, provided the surety company satisfies the Warrant Agent’s minimum requirements.

 

(f)           Treatment of Restrictive Legends.  Company shall, if applicable, inform the Warrant Agent in writing as soon as possible in advance as to whether any Warrants issued in exchange for Old Warrants are to be issued with restrictive legend(s) and, if so, the Company shall provide the appropriate legend(s) and a list identifying the affected holders and certificate numbers (if applicable) and Warrant amounts for such affected holders.  Unless and until the Warrant Agent shall receive such written instructions from the Company, the Warrant Agent may presume conclusively for all purposes that no certificates for Warrants should be issued with restrictive legends.

 

(g)          Procedure for Deficient Items.

 

(i)          The Warrant Agent shall examine the Letter of Transmittal and certificates for the Old Warrants received by it as exchange agent to ascertain whether they appear to have been completed and executed in accordance with the

 

 

  

3

  

 

 

instructions set forth in the Letter of Transmittal.  In the event the Warrant Agent determines that any Letter of Transmittal does not appear to have been properly completed or duly executed, or where the certificates representing Old Warrants do not appear to be in proper form for surrender, or any other deficiency in connection with the surrender appears to exist, the Company authorizes and instructs the Warrant Agent to follow, where possible, its regular procedures to attempt to cause such irregularity to be corrected.  The Warrant Agent is not authorized to waive any deficiency in connection with the surrender, unless the Company provides written authorization to waive such deficiency, subject to applicable laws and regulations.

 

(ii)         If a Letter of Transmittal specifies that exchange for Old Warrants is to be made to a person other than the person in whose name a surrendered certificate is registered, the Warrant Agent will not issue new certificates representing Warrants or credit DTC accounts until such Letter of Transmittal has been properly endorsed with a signature guarantee from an eligible guarantor institution approve by the Securities Transfer Association, and accompanied by any other evidence of authority that may be reasonably required by the Warrant Agent, and otherwise put in proper form for transfer.

 

(iii)  If any such deficiency with respect to any certificated Old Warrant is neither corrected nor waived, the Warrant Agent shall: (a) convert the Warrants represented by such certificate to a Direct Registration “Book” position, and (b) send to such holder a defect letter describing the applicable defects and asking that the deficiencies be corrected.

 

(h)          Cancellation of Old Warrants.  As of the Effective Time, the Warrant Agent will become the sole recordkeeping agent for the Old Warrants, and shall maintain such records in accordance with its standard practices and applicable law.  Upon the exchange of Old Warrants, the certificates representing such Old Warrants will be canceled by the Warrant Agent.

 

(i)           Unexchanged Warrantholders And Unclaimed Property.

 

(i)          Approximately four months after the Effective Time, the Warrant Agent will, at the request of the Company, mail a follow-up letter to all holders who did not surrender their Old Warrant certificates for exchange or supply an affidavit and bond of indemnity pursuant to Section 1(e) hereof.  If requested, the follow-up letter will be mailed with a Letter of Transmittal, return envelope, and Form W-9 or W-8, where applicable.

 

(ii)         After the eight month anniversary of the Effective Time, for the purpose of facilitating the surrender of certificated Old Warrants and issuance of Warrants, the Warrant Agent, at the request of the Company, will use the services of a warrantholder locating service provider selected by the Warrant Agent, which may be an affiliate of the Warrant  Agent, to facilitate the location and contact of holders who have not surrendered their Old Warrant certificates, including lost holders.  Such provider may compensate the Warrant Agent for processing and

 

 

  

4

  

 

 

other services the Warrant Agent provides in connection with such locating services, including providing the Warrant Agent with a portion of its fees.  Such provider shall inform any such located holders that they may choose either (i) to contact the Warrant Agent directly to surrender their certificated Old Warrants and to receive certificates for Warrants at no charge other than any applicable fees contemplated by this Agreement, or (ii) to utilize the services of such provider for a fee, which may not exceed the lesser of 20% of the total value of such holder’s Warrants or the maximum statutory fee permitted by the applicable state jurisdiction.  If the Company selects a locating service provider other than one selected by the Warrant Agent, then the Warrant Agent shall not be responsible for the terms of any agreement with such provider and additional fees may apply.  The Company hereby authorizes and instructs the Warrant Agent to provide a list of those holders to any service provider administering any in-depth warrantholder location program on behalf of the Warrant Agent or the Company pursuant to this Section 1(i).

 

(iii)       The Warrant Agent shall report unclaimed property to each state in compliance with state laws and shall comply with Rule 17Ad-17 of the Securities and Exchange Commission, as amended, for lost holders.  The Warrant Agent will charge the Company its standard fees plus out-of-pocket expenses (including the cost of due diligence mailings) for such services. The Company acknowledges and agrees that in the case of reports made and property delivered pursuant to an initial or voluntary compliance program administered by private auditing agents retained by state unclaimed property administrators, the Warrant Agent will be compensated for its efforts in facilitating the Company’s involvement in such a program including the provision of the necessary records and remittance of property in the manner required by the program by means of an expense reimbursement payment based on a percentage of the property remitted to the states through participation in the program. The Company will not be charged for any services performed by the Warrant Agent in conjunction with such program to the extent that the Warrant Agent receives an expense reimbursement, and agrees to reimburse the Warrant Agent for any out-of-pocket expenses incurred in the performance of such services.

 

(j)             The Warrant Agent shall not be liable to any holder of Old Warrants for any Warrants, or Shares issued upon exercise thereof or, if applicable, cash in lieu of fractional Shares, or any related unclaimed property, which has been delivered to a public official pursuant to applicable abandoned property law.

 

	
  

	
1B.

	
Warrants.  Each Warrant will entitle the registered holder of a Warrant to purchase from the Company one share of Common Stock (each a “Share,” collectively, the “Shares”) at $1.25 per Share.  The exercise price for the Warrant is referred to herein as the “Exercise Price.”  The Exercise Price is subject to adjustments as provided in Section 12 hereof.  A Warrant Holder may exercise all or any number of Warrants resulting in the purchase of a whole number of Shares.  The terms of the Warrants are shown on Exhibit A.  With respect to the rights, duties, obligations and liabilities of the Warrant Agent, in the event of any conflict or inconsistency between this Agreement and the terms of the Warrants,

 

 

  

5

  

 

 

	
  

	
the provisions of this Agreement shall govern in all respects.  With respect to the rights, duties, obligations and liabilities of any other person or entity other than the Warrant Agent, in the event of any inconsistency between this Agreement and the terms of the Warrants, the Warrant terms will control.

	
  

	
2.

	
Exercise Period.  The Warrants may be exercised on or before 5:00 p.m. Eastern Standard Time on October 11, 2018 (the “Expiration Date”) pursuant to Section 6 hereof.

	
  

	
3.

	
Execution of Warrant Certificates.  Warrant Certificates will be substantially in the form set forth in Exhibit B attached to this Agreement.  Warrant Certificates shall be signed by, or shall bear the facsimile signature of, the Chief Executive Officer, President or a Vice President of the Company and the Secretary or an Assistant Secretary of the Company.  If any person, whose facsimile signature has been placed upon any Warrant Certificate or the signature of an officer of the Company, shall have ceased to be such officer before such Warrant Certificate is countersigned, issued and delivered, such Warrant Certificate shall be countersigned, issued and delivered with the same effect as if such person had not ceased to be such officer.  Any Warrant Certificate may be signed by, or made to bear the facsimile signature of, any person who at the actual date of the preparation of such Warrant Certificate shall be a proper officer of the Company to sign such Warrant Certificate even though such person was not such an officer upon the date of the Agreement, and even if such officer shall cease to be such an officer after the preparation of such Warrant Certificate.  If a Warrant holder has an account with DTC, at the election of such Warrant holder, Warrants may be issued in “Book Entry” form by crediting the Warrant holder’s account with DTC reflecting the Warrants issued in the Exchange.

	
  

	
4.

	
Countersigning.  Warrant Certificates shall be countersigned by the Warrant Agent manually or by facsimile signature and shall not be valid for any purpose unless so countersigned.  The Warrant Agent hereby is authorized to countersign and deliver to, or in accordance with the instructions of, any Warrant Holder any Warrant Certificate which is properly issued.

 

 

  

6

  

 

 

	
  

	
5.

	
Registration of Transfer and Exchanges.

	
  

	
(a)

	
The Warrant Agent shall from time to time, upon the written request of a Warrant Holder, register the transfer of any outstanding Warrant Certificate upon records maintained by the Warrant Agent for such purpose upon surrender of such Warrant Certificate to the Warrant Agent for transfer, accompanied by appropriate instruments of transfer in form and substance satisfactory to the Company and the Warrant Agent, properly completed and duly executed by the Warrant Holder or a duly authorized attorney, and such other information and documents requested by the Warrant Agent.  Upon any such registration of transfer, a new Warrant Certificate shall be issued by the Warrant Agent in the name of and to the transferee and the surrendered Warrant Certificate shall be cancelled by the Warrant Agent.

	
  

	
(b)

	
A party requesting transfer must provide any evidence of authority that may be required by the Warrant Agent, including but not limited to, a signature guarantee from an eligible guarantor institution participating in a signature guarantee program approved by the Securities Transfer Association at a guarantee level acceptable to the Warrant Agent.

 

	
  

	
6.

	

Exercise of Warrants.

 

	
  

	
(a)

	
Subject to the terms of the Warrants, any Warrant may be exercised in whole or in part during the exercise period.  The Warrants shall be exercised by the Warrant Holder by surrendering to the Warrant Agent the Warrant Certificate with the exercise form on the reverse of such Warrant Certificate properly completed and duly executed and delivering to the Warrant Agent (or by providing such other notice of exercise made available by the Company), by good check or bank draft payable to the order of the Warrant Agent, the Exercise Price for each Share to be purchased.  Notwithstanding the foregoing, the Company will extend a three day “protect” period after the Expiration Date so that any Warrant for which notice of exercise is received in the three business days prior to and including the Expiration Date shall be deemed exercised so long as the Exercise Price is received by the Warrant Agent no more than three business days after the notice of exercise.

 

	
  

	
(b)

	
Upon receipt of a Warrant Certificate with the exercise form thereon properly completed and duly executed together with payment in full of the Exercise Price for the Shares for which Warrants are then being exercised, the Warrant Agent is hereby authorized to requisition from any transfer agent for the Shares (or make available if the Warrant Agent is also the transfer agent for the Shares), and upon receipt shall make delivery of, certificates evidencing the total number of whole Shares for which Warrants are then being exercised in such names and denominations as are required for delivery to, or in accordance with the

 

 

 

  

7

  

 

 

instructions of, the Warrant Holder.  Such certificates for the Shares shall be deemed to be issued, and the person whom such Shares are issued of record shall be deemed to have become a holder of record of such Shares, as of the date of the surrender of such Warrant Certificate and payment of the Exercise Price, whichever shall last occur; provided that if the transfer books of the Company with respect to the Shares shall be closed, the certificates for the Shares issuable upon exercise of the Warrants shall be issued as of the date on which such books shall next be open, and the person to whom such Shares are issued of record shall be deemed to have become a record holder of such Shares as of the date on which such books shall next be open (whether before, on or after the Expiration Date) and until such date the Warrant Agent shall be under no duty or obligation to deliver any certificate for such Shares.

 

	
  

	
(c)

	
If less than all of a Warrant Holder’s Warrants are exercised upon a single occasion, a new Warrant Certificate for the balance of the Warrants not so exercised shall be issued and delivered to, or in accordance with, transfer instructions properly given by the Warrant Holder prior to the Expiration Date.

 

	
  

	
(d)

	
All Warrant Certificates surrendered upon exercise shall be cancelled by the Warrant Agent.

 

	
  

	
(e)

	
Upon the exercise of any Warrant, the Warrant Agent shall promptly deposit any payment received in connection with such exercise into an account (the “Account”) established by Computershare at a federally insured commercial bank (the “Bank”).  All funds deposited in the Account will be disbursed by Computershare on a [weekly basis] to the Company after Computershare has been informed by the Bank that the Bank has “collected” the funds, subject to any withdrawals by the Computershare for the account of the Warrant Agent permitted hereunder.  Once Computershare has been informed by the Bank that the funds have been “collected,” the Warrant Agent shall cause the Share certificate(s) representing the exercised Warrants to be issued.

 

	
  

	
(f)

	
The Company shall be responsible for paying or reimbursing the Warrant Agent for all expenses incurred by the Warrant Agent in connection with this Agreement.  Such expenses, including expenses incurred in connection with delivery of Share certificates to the stockholder, may at the sole discretion of the Warrant Agent be withdrawn from the Account prior to distribution of the remaining balance of the Exercise Price submitted by a Warrant Holder to the Company.  Promptly following the exercise of Warrants, the Warrant Agent shall prepare and provide the Company with a detailed accounting statement setting forth the number of Warrants exercised, the name of registered exercising Warrant Holder and the net amount of funds remitted or to be remitted to the Company as payment for the exercised Warrants (after reimbursement of the Warrant Agent’s expenses).

 

 

  

8

  

 

 

	 	
(g)

	

In the event that a Warrant Holder elects a cashless exercise of Warrants, the Company shall be solely responsible for calculating the number of Common Shares issuable in connection with such cashless exercise and transmitting such calculation to the Warrant Agent in a written notice, and the Warrant Agent shall have no duty, responsibility or obligation to calculate or determine the number of Common Shares issuable in connection with any such cashless exercise, or to investigate or confirm whether the Company’s calculation or determination of the number of Shares to be issued in connection with any such cashless exercise is accurate or correct.  The Warrant Agent shall have no duty, obligation or responsibility with respect to any cashless exercise of Warrants until it receives such written notice form the Company, and shall be entitled to rely conclusively on any such written notice provided by the Company, including the calculations and determinations contained therein, and the Warrant Agent shall not be liable for any action taken, suffered or omitted to be taken by it in accordance with such written instructions, while waiting for such written instructions, or pursuant to this Agreement.

	
  

	
7.

	
Bank Accounts.  The Company acknowledges that the bank accounts maintained by Computershare in connection with the services provided under this Agreement will be in its name and that Computershare may receive investment earnings in connection with the investment at Computershare’s risk and for its benefit of funds held in those accounts from time to time.  Neither the Company nor the record holders will receive interest on any deposits.

	
  

	
8.

	
Taxes.  The Company will, from time to time, promptly pay all taxes and charges attributable to the initial issuance of Shares upon exercise of Warrants.  The Company shall not, however, be required to pay any tax or charge that may be payable in connection with any transfer of Warrant Certificates or the issuance of any Shares in the name of anyone other than that of the Warrant Holder; such taxes or charges to be the sole responsibility and obligation of the Warrant Holder.  The Warrant Agent shall have no duty or obligation to take any action under any section of this Agreement that requires the payment of taxes or charges, including but not limited to this Section 8, unless and until the Warrant Agent is satisfied that all such taxes and/or charges have been paid.

	
  

	
9.

	
Replacement Warrant Certificates.  Warrant Agent shall issue replacement Warrants for those certificates alleged to have been lost, stolen or destroyed, upon receipt by Warrant Agent of an open penalty surety bond satisfactory to it and holding it and Company harmless, absent written notice to Warrant Agent that such certificates have been acquired by a bona fide purchaser.  Warrant Agent may, at its option, issue replacement Warrant Certificates for mutilated certificates upon presentation thereof with or without such indemnity or other indemnity satisfactory to it.

 

 

  

9

  

 

 

	
  

	
10.

	
Reservation of Shares.  For the purpose of enabling the Company to satisfy all obligations to issue Shares upon exercise of the Warrants, the Company will at all times reserve and keep available free from preemptive rights, out of the aggregate of its authorized but unissued shares, the full number of Shares which may be issued upon the exercise of the Warrants and such Shares will upon issue be fully paid and nonassessable by the Company and free from all taxes, liens, charges and security interests with respect to the issue thereof.

	
  

	
11.

	
Governmental Restrictions.  If any Shares issuable upon the exercise of Warrants require registration or approval of any governmental authority, the Company will use all commercially reasonable efforts to cause such Shares to be duly registered, or approved, as the case may be, and, to the extent practicable, take all such action in anticipation of and prior to the exercise of the Warrants, including, without limitation, filing any and all post-effective amendments to the Company’s Registration Statement on Form S-3 (Registration No. 333-186103) necessary to permit a public offering of the Shares underlying the Warrants at any and all times during the term of this Agreement; provided, however, that in no event shall such Shares be issued, and the Company is authorized to refuse to honor the exercise of any Warrant, if such exercise would result, in the opinion of the Company’s Board of Directors, upon advice of counsel, in the violation of any law.  The Company shall provide prompt written notice of any such determination made by the Company.  Until such written notice is received by the Warrant Agent, the Warrant Agent may presume conclusively for all purposes that no such determination has been made by the Company.

	
  

	
12.

	
Adjustments.

	
  

	
(a)

	
If prior to the exercise of any Warrants, the Company shall have effected one or more stock split-ups, stock dividends or other increases or reductions of the number of shares of its Common Stock outstanding without receiving compensation therefor in money, services or property, the number of Shares subject to the Warrants shall (i) if a net increase shall have been effected in the number of outstanding shares of the Common Stock, be proportionately increased, and the Exercise Price payable per Share shall be proportionately reduced, and (ii) if a net reduction shall have been effected in the number of outstanding shares of the Common Stock, be proportionately reduced and the Exercise Price payable per Share be proportionately increased.

	
  

	
(b)

	
In the event of a capital reorganization or a reclassification of the Common Stock (except as provided in Subsection 12(a)), any Warrant Holder, upon exercise of the Warrants, shall be entitled to receive, in substitution for the Common Stock to which the Warrant Holder would have become entitled upon exercise immediately prior to such reorganization or reclassification, the shares (of any class or classes) or other securities or property of the Company (or cash) that he would have been entitled to receive at the same aggregate Exercise Price upon such reorganization or reclassification if such Warrants had been exercised

 

 

  

10

  

 

 

immediately prior to the record date with respect to such event; and in any such case, appropriate provision (as determined by the Board of Directors of the Company, whose determination shall be conclusive and shall be evidenced by a certified Board resolution filed with the Warrant Agent) shall be made for the application of this Section 12 with respect to the rights and interests thereafter of the Warrant Holders (including but not limited to the allocation of the Exercise Price between or among shares of classes of capital stock), to the end that this Section 12 (including the adjustments of the number of Shares or other securities purchasable and the Exercise Price thereof) shall thereafter be reflected, as nearly as reasonably practicable, in all subsequent exercises of the Warrants for any shares or securities or other property (or cash) thereafter deliverable upon the exercise of the Warrants.

	
  

	
(c)

	
In case of any consolidation of the Company with, or merger of the Company into, another corporation (other than a consolidation or merger which does not result in any reclassification or change of the outstanding Common Stock), the corporation formed by such consolidation or merger shall execute and deliver to the Warrant Agent a supplemental Warrant agreement providing that the holder of each Warrant then outstanding shall have the right thereafter (until the expiration of such Warrant) to receive, upon exercise of such Warrant, solely the kind and amount of shares of stock and other securities and property (or cash) receivable upon such consolidation or merger by a holder of the number of shares of Common Stock for which such Warrant might have been exercised immediately prior to such consolidation, merger, sale or transfer.  Such supplemental Warrant agreement shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided in this Section 12.

	
  

	
(d)

	
The Warrant Agent shall have no obligation under any Section of this Agreement to calculate any of the adjustments set forth herein.  The Warrant Agent shall be entitled to rely conclusively on, and shall be fully protected in relying on, any certificate, notice or instructions provided by the Company with respect to any adjustment of the Exercise Price or the number of shares issueable upon exercise of a Warrant, or any related matter, and the Warrant Agent shall not be liable for any action taken, suffered or omitted to be taken by it in accordance with any such certificate, notice or instructions or pursuant to this Warrant Agreement.  The Warrant Agent shall not be deemed to have knowledge of any such adjustment unless and until it shall have received written notice thereof from the Company.

 

	
  

	
13.

	

Notice to Warrant Holders.  Whenever an adjustment is required as provided in Section 12 or otherwise, the Company shall promptly (i) prepare and cause to be filed with the Warrant Agent a certificate signed by an appropriate Company officer setting forth the details of such adjustment, the method of calculation and the facts upon which such calculation and adjustment is based, which certificate

 

 

  

11

  

 

 

	
  

	
 

	
shall be conclusive evidence of the correctness of the matters set forth therein, and until such a certificate is received by the Warrant Agent, the Warrant Agent may presume conclusively for all purposes to that no adjustments have occurred, (ii) cause notice of such adjustments to be given to the Warrant Holders of record, which notice may be by publication of a press release and by taking such other steps as may be required under applicable laws.  Without limiting the obligation of the Company hereunder to provide notice to each Warrant Holder, failure of the Company to give notice to the Warrant Holders shall not invalidate any corporate action taken by the Company.

 

	
  

	
14.

	

No Fractional Warrants or Shares.  The Company (including the Warrant Agent) shall not be required to issue fractions of Shares issuable upon exercise of the Warrants, upon the reissue of Warrants, or any adjustments as described in Section 12 or otherwise; but the Company shall instruct the Warrant Agent in writing, in lieu of issuing any such fractional interest that would otherwise be issuable, to round up or down to the nearest full Share issuable upon exercise of the Warrant, or to make a cash adjustment.  If the total Warrants surrendered by any exercise would result in the issuance of a fractional share, the Warrant Agent shall promptly inform the Company, and the Company shall promptly prepare and deliver to the Warrant Agent a certificate instructing the Warrant Agent to either (ii) round up or down the aggregate number of shares issuable to the nearest full share, or (ii) make a cash adjustment in lieu of issuing such fractional Shares.  The certificate delivered by the Company to the Warrant Agent shall set forth in reasonable detail the facts related to such payment or adjustment, including the prices and/or formulas used to calculate such payment or adjustment, and the Company shall provide the Warrant Agent with sufficient monies in the form of fully collected funds to make sure payments (or direct the Warrant Agent to deduct such amounts from the Account).  The Warrant Agent shall be fully protected in relying upon such a certificate and shall have no duty with respect to, and shall not be deemed to have knowledge of any payment for fractional Warrants or fractional Shares under any Section of this Agreement relating to the payment of fractional Warrants or fractional Shares unless and until the Warrant Agent shall have received such a certificate and sufficient monies.

 

	
  

	
15.

	

Rights of Warrant Holders.  No Warrant Holder, as such, shall have any rights of a stockholder of the Company, either at law or equity, and the rights of the Warrant Holders, as such, are limited to those rights expressly provided in the Warrant Certificate.  The Company and the Warrant Agent may treat the registered Warrant Holder in respect of any Warrant as the absolute owner thereof for all purposes notwithstanding any notice to the contrary.

 

	
  

	
16.

	

Warrant Agent.  The Company hereby appoints the Warrant Agent to act (i) as exchange agent of the Company  with respect to the surrender of Old Warrants in exchange for Warrants, and (ii) as warrant agent of the Company with respect to the Warrants, and the Warrant Agent hereby accepts such appointments upon and subject to the express terms and conditions set forth herein (and no implied terms or conditions), all of which the Company and every Warrant Holder, by acceptance of his Warrant Certificates, shall be bound, including but not limited to the following:

 

 

  

12

  

 

	
  

	
(a)

	
Statements contained in this Agreement and in the Warrant Certificate shall be taken as statements of the Company only.  The Warrant Agent assumes no responsibility for the correctness of any of the same or be required to verify the same except for such provisions of this Agreement that describe the Warrant Agent or the actions to be taken by the Warrant Agent hereunder.  The Warrant Agent shall not be under any responsibility in respect of the validity of this Agreement or the execution and delivery hereof (except the due execution hereof by the Warrant Agent) or in respect of the validity or execution of any Warrant or any purchase agreement related thereto; nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement, any Warrant or in any other agreement or document related thereto; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Common Shares to be issued pursuant to this Agreement or any Warrant or as to whether any Common Shares will, when issued, be duly authorized, validly issued, fully paid and nonassessable; nor shall it have any duty or responsibility in the case of the receipt of any written demand from any Warrant Holder with respect to any such action or default by the Company, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or to make any demand upon the Company;

	
  

	
(b)

	
The Warrant Agent shall not be liable or responsible for any failure of the Company to comply with any of the Company’s duties, covenants or obligations contained in this Agreement, the Warrant Certificates or in any other agreement or document.

	
  

	
(c)

	
The Warrant Agent may consult at any time with counsel satisfactory to it (who may be counsel for the Company or an employee of the Warrant Agent) and the Warrant Agent shall incur no liability or responsibility to the Company or to any other person or entity in respect of any action taken, suffered or omitted to be taken by it hereunder in the absence of bad faith and in accordance with the opinion or the advice of such counsel.

 

	
  

	
(d)

	
From time to time, the Company may provide the Warrant Agent with written instructions concerning the services to be performed by the Warrant Agent hereunder. In addition, at any time the Warrant Agent may apply to any officer of the Company for written instruction with respect to any fact or matter arising in connection with the services to be performed by the Warrant Agent under this Agreement, and such fact or matter shall be deemed to be conclusively proved or established by any written Company instructions or other notice, resolution, waiver, consent, order, certificate or other paper, document or instrument issued in response thereto. The Warrant Agent and its agents and subcontractors shall not be

 

 

 

  

13

  

 

liable and shall be indemnified by Company for any action taken, suffered or omitted to be taken by it in reliance upon any Company instructions or any notice, resolution, waiver, consent, order, certificate or other paper, document or instrument believed by it to be genuine and to have been signed, sent or presented by the proper party or parties. The Warrant Agent shall not be held to have notice of any change of authority of any person, until receipt of written notice thereof from the Company.

 

	
  

	
(e)

	
The Company agrees to pay to the Warrant Agent from time to time compensation in accordance with the fee schedule attached as Exhibit C hereto, together with reimbursement for all expenses, taxes and governmental charges and all other charges of any kind or nature incurred by the Warrant Agent in the execution and administration of this Agreement and the exercise and performance of its duties hereunder, and to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and counsel fees and expenses, incurred in connection with this Agreement except as a result of the Warrant Agent’s own gross negligence or bad faith or willful misconduct (each as determined by a final judgment of a court of competent jurisdiction).

 

	
  

	
(f)

	
The Warrant Agent shall be under no obligation to institute any action, suit or legal proceeding or to take any other action it believes is likely to involve expense unless the Company or one or more Warrant Holders shall furnish the Warrant Agent with security and indemnity for any costs and expenses that may be incurred in connection with such action, suit or legal proceeding, but this provision shall not affect the power of the Warrant Agent to take such action as the Warrant Agent may consider proper, whether with or without any such security or indemnity.  All rights of action under this Agreement or under any of the Warrants may be enforced by the Warrant Agent without the possession of any of the Warrant Certificates or the production thereof at any trial or other proceeding relative thereto, and any such action, suit or proceeding instituted by the Warrant Agent shall be brought in its name as Warrant Agent, and any recovery of judgment on behalf of the Warrant Holders shall be for the ratable benefit of the Warrant Holders as their respective rights or interest may appear.

 

	
  

	
(g)

	
The Warrant Agent (and its affiliates) and any stockholder, director, officer, agent or employee of the Warrant Agent (or any of its affiliates) may buy, sell or deal in any of the Warrants or other securities of the Company or become pecuniarily interested in any transaction in which the Company or any Warrant Holder may be interested, or contract with or lend money to the Company or any Warrant Holder or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement.  Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other person or legal entity.

 

  

14

  

 

 

	
  

	
(h)

	
The Warrant Agent shall be liable hereunder only for its own gross negligence, bad faith and willful misconduct (each as determined by a final judgment of a court of competent jurisdiction).

	
  

	
(i)

	
The Warrant Agent may perform any of its duties hereunder either directly or by or through agents or attorneys, and the Warrant Agent shall not be liable for any act or failure to act by any such agent or attorney absent gross negligence, bad faith or willful misconduct (each as determined by a final judgment of a court of competent jurisdiction) in the selection and assignment of tasks to any such agent or attorney.

	
  

	
(k)

	
The Warrant Agent shall not be obligated to expend or risk its own funds or to take any action that it believes would expose or subject it to expense or liability or to a risk of incurring expense or liability, unless it has been furnished with assurances of repayment or indemnity satisfactory to it.

	
  

	
(l)

	
The Warrant Agent shall not be liable or responsible for any failure of the Company to comply with any of its obligations relating to the registration of securities under this Agreement or any Warrant, including without limitation obligations under applicable regulation or law.

	
  

	
(m)

	
The Warrant Agent shall not be under any liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement.

	
  

	
(n)

	
The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any Warrants authenticated by the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds of the issue and sale, or exercise, of Warrants.

	
  

	
(o)

	
The Warrant Agent shall act hereunder solely as agent for the Company, and its duties shall be determined solely by the provisions hereof (and no duties or obligations shall be inferred or implied).  The Warrant Agent shall not assume any obligations or relationship of agency or trust with any of the owners or holders of the Warrants.

	
  

	
(p)

	
The Warrant Agent may rely on and be fully authorized and protected in acting or failing to act upon (a) any guaranty of signature by an “eligible guarantor institution” that is a member or participant in the Securities Transfer Agents Medallion Program or other comparable “signature guarantee program” or insurance program in addition to, or in substitution for, the foregoing; or (b) any law, act, regulation or any interpretation of the same even though such law, act, or regulation may thereafter have been altered, changed, amended or repealed.

 

 

  

15

  

 

 

	
  

	
(q)

	
The Warrant Agent shall at all times be entitled to the rights, protections and indemnities set forth herein, whether acting as exchange agent, warrant agent or in any other capacity hereunder.

	
  

	
17.

	
Successor Warrant Agent.  Any entity into which the Warrant Agent may be merged or converted or with which it may be consolidated, or any entity resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party, or any entity succeeding to the shareowner services business of the Warrant Agent, shall be the successor to the Warrant Agent hereunder with the same powers, rights, responsibilities and obligations of the Warrant Agent without the execution or filing of any paper or any further act of a party or the parties hereto.  In any such event or if the name of the Warrant Agent is changed, the Warrant Agent or such successor may adopt the countersignature of the original Warrant Agent and may countersign such Warrants either in the name of the predecessor Warrant Agent or in the name of the successor Warrant Agent.

	
  

	
18.

	
Change of Warrant Agent.  The Warrant Agent may resign or be discharged by the Company from its duties under this Agreement by the Warrant Agent or the Company, as the case may be, by giving notice in writing to the other, and by giving a date when such resignation or discharge shall take effect, which notice shall be sent at least 30 days prior to the date so specified.  If the Warrant Agent shall resign, be discharged or shall otherwise become incapable of acting, the Company shall appoint a successor to the Warrant Agent.  If the Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated Warrant Agent or after discharging the Warrant Agent, then the Company agrees to perform the duties of the Warrant Agent hereunder until a successor Warrant Agent is appointed.  Upon any such termination, Warrant Agent shall be relieved and discharged of any further responsibilities with respect to its duties hereunder. After appointment of a successor Warrant Agent and execution of a copy of this Agreement in effect at that time, the successor Warrant Agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named as Warrant Agent without further act or deed and, upon payment of all outstanding fees and expenses hereunder, the former Warrant Agent shall deliver and transfer to the successor Warrant Agent any property at the time held by it thereunder, and execute and deliver any further assurance, conveyance, act or deed necessary for effecting the delivery or transfer.

 

Failure to give any notice provided for in this Section 18, however, or any defect therein, shall not affect the legality or validity of the resignation or removal of the Warrant Agent or the appointment of the successor Warrant Agent, as the case may be.

 

 

  

16

  

 

 

19.           Opinion of Counsel.

	
  

	
(a)

	
The Company shall provide an opinion of counsel prior to the Effective Time to set up a reserve of Warrants and related shares of Common Stock.  The opinion shall state that all Warrants or Common Stock, as applicable, are:

	
  

	
(i)

	
registered under the Securities Act of 1933, as amended, or are exempt from such registration, and all appropriate state securities law filings have been made with respect to the Warrants or shares; and

	
  

	
(ii)

	
validly issued, fully paid and non-assessable.

	
  

	
20.

	
Notices.  Any notice or demand authorized by this Agreement to be given to or made by the Warrant Agent or by any Warrant Holder to or on the Company shall be deemed given when sent by overnight delivery service by a nationally recognized overnight courier service to the addresses shown below:

To the Company:

CEL-SCI  Corporation

8229 Boone Boulevard, Suite 802

Vienna, Virginia  22182

Attn:  Patricia Prichep

Facsimile:  (703) 506-9471

With copy to:

Hart & Hart

1624 Washington Street

Denver, CO 80203

Attn: William T. Hart

Fax: (303) 839-5414

To the Warrant Agent:

Computershare, Inc.

350 Indiana Street, Suite 750

Golden CO 80401

Attn:  Corp Actions Relationship Manager

Fax:  (303) 262-0610

 

With a copy to:

Computershare Trust Company, N.A.

Newport Office Center VII

480 Washington Blvd.

Jersey City, NJ 07310

Attn: Legal Department

 

 

  

17

  

 

Except as otherwise provided in this Agreement, any distribution, notice or demand required or authorized by this Agreement to be given or made by the Company or the Warrant Agent to or on the Warrant Holders shall be sufficiently given or made if sent to the Warrant Holders at their last known addresses as they shall appear on the registration books for the Warrant Certificates maintained by the Warrant Agent.

	
  

	
21.

	
Supplements and Amendments.  The Company and the Warrant Agent may from time to time supplement or amend this Agreement without the approval of any Warrant Holders in order to cure any ambiguity or to correct or supplement any provisions herein, or to make any other provisions in regard to matters or questions arising hereunder which the Company and the Warrant Agent may deem necessary or desirable.  In furtherance of the foregoing, the Company may extend the duration of the Exercise Period, without the consent of the Warrant Holders.  No provision of this Agreement may be amended, modified or waived, except in a written document signed by the parties hereto.  As  a  condition  precedent  to  the  Warrant Agent’s  execution  of  any amendment, the Company shall deliver to the Warrant Agent a certificate from a duly authorized officer of the Company that states that the proposed amendment is in compliance with the terms of this Section 21.  The Warrant Agent may, but shall not be obligated to, enter into any amendment that affects its own rights, duties, liabilities or obligations hereunder.

	
  

	
22.

	
Successors.  All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their respective successors and assigns hereunder.

	
  

	
23.

	
Termination.  This Agreement shall terminate at the close of business on the Expiration Date, or such earlier date upon which all Warrants have been exercised, provided, however, that if exercise of the Warrants is suspended and such suspension continues past the Expiration Date, this Agreement shall terminate at the close of business on the business day immediately following the expiration of such suspension.  The provisions of Sections 16, 24 and 25, and Sections 27 through 31, shall survive the termination of this Agreement.

	
  

	
24.

	
Governing Law.  This Agreement and each Warrant Certificate issued hereunder shall be deemed to be a contract made under the laws of the State of Colorado and for all purposes shall be construed in accordance with the laws of said State except that the rights, duties, liabilities and obligations of the Warrant Agent under this Agreement shall be governed by and construed in accordance with the laws of the state of New York.

 

 

  

18

  

 

	
  

	
25.

	
Benefits of this Agreement.  Nothing in this Agreement shall be construed to give any person or entity other than the Company, the Warrant Agent or the registered holders of the Warrant Certificates any legal or equitable right, remedy or claim under this Agreement.

	
  

	
26.

	
Signatures/Counterparts.  This Agreement may be executed in any number of counterparts, including signatures delivered by electronic means (e.g., PDF or facsimile), and each of such counterparts shall for all purposes be deemed to be an original and all such counterparts shall together constitute but one and the same instrument.  A signature to this Agreement transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

	
  

	
27.

	
Indemnification.

	
  

	
(a)

	
The Company covenants and agrees to indemnify, defend and to hold the Warrant Agent harmless from and against any costs, expenses (including the reasonable fees and expenses of its legal counsel), losses, liabilities, suits, actions, proceedings, judgments, claims, settlements or damages, which may be paid, incurred or suffered by or to which it may become subject, arising from or out of, directly or indirectly, any action taken, suffered or omitted to be taken by the Warrant Agent in connection with the preparation, delivery, acceptance, administration, execution or amendment of this Agreement and the exercise or performance of its duties hereunder, including the costs and expenses of enforcing its rights hereunder; provided, that such covenant and agreement does not extend to, and the Warrant Agent shall not be indemnified with respect to, such liabilities, suits, actions, proceedings, judgments, claims, settlements, costs, expenses, losses and damages incurred or suffered by the Warrant Agent as a result of, or arising out of, its own gross negligence, bad faith, or willful misconduct (each as determined by a final judgment of a court of competent jurisdiction).

	
  

	
(b)

	
From time to time, Company may provide Warrant Agent with written instructions concerning the services performed by the Warrant Agent hereunder.  In addition, at any time Warrant Agent may apply to any officer of Company for instruction, and may consult with legal counsel for Warrant Agent (including an employee of the Warrant Agent) or Company with respect to any matter arising in connection with any matter arising out of or in connection with the services to be performed by the Warrant Agent under this Agreement.  Warrant Agent and its agents and subcontractors shall not be liable and shall be indemnified by Company for any action taken or omitted by Warrant Agent in reliance upon any Company instructions or upon the advice or opinion of such counsel.  Warrant Agent shall not be held to have notice of any change of authority of any person, until receipt of written notice thereof from Company.

	
  

	
28.

	
Limitation of Liability. Notwithstanding anything contained herein to the contrary, the Warrant Agent’s aggregate liability under this Agreement with respect to, arising from, or arising in connection with this Agreement, or from all services provided or omitted to be provided under this Agreement, whether in

 

 

  

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contract, or in tort, or otherwise, is limited to, and shall not exceed, the amounts paid hereunder by the Company to Warrant Agent as fees and charges, but not including reimbursable expenses, during the twelve (12) months immediately preceding the event for which recovery from Warrant Agent is being sought.

	
  

	
29.

	
Confidentiality.  The Warrant Agent and the Company agree that all books, records, information and data pertaining to the business of the other party (“Confidential Information”), including inter alia, personal, non-public Warrant Holder information, which are exchanged or received pursuant to the negotiation or the carrying out of this Agreement, including the fees for services set forth in the attached schedule, shall remain confidential, and shall not be voluntarily disclosed to any other person, except as may be required by law, including, without limitation, pursuant to subpoenas from state or federal government authorities (e.g., in divorce and criminal actions).  Confidential Information shall not include information that, at the time of disclosure: (i) is or becomes generally available to and known by the public other than as a result of, directly or indirectly, any breach of this Section 29 by such receiving party; (ii) is or becomes available to the receiving party on a non-confidential basis from a third-party source, provided that such third party is not and was not prohibited from disclosing such Confidential Information; (iii) was known by or in the possession of the receiving party or its representatives prior to being disclosed by or on behalf of the disclosing party; (iv) was or is independently developed by the receiving party without reference to or use of, in whole or in part, any of the disclosing party's Confidential Information; or (v) is required to be disclosed pursuant to applicable federal, state or local law, regulation or a valid order issued by a court or governmental agency of competent jurisdiction.

	
  

	
30.

	
Force Majeure Term. Notwithstanding anything to the contrary contained herein, the Warrant Agent will not be liable for any delays or failures in performance resulting from acts beyond its reasonable control including, without limitation, acts of God, terrorist acts, shortage of supply, breakdowns or malfunctions, interruptions or malfunction of computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval systems, labor difficulties, war, or civil unrest.

	
  

	
31.

	
Consequential Damages. Except with respect to indemnification for third party claims, neither party to this Agreement shall be liable to the other party for any consequential, indirect, penal, special or incidental damages under any provisions of this Agreement or for any consequential, indirect, penal, special or incidental damages arising out of any act or failure to act hereunder even if that party has been advised of or has foreseen the possibility of such damages.

 

	
  

	
32.

	
Further Assurances. The Company shall perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all such further and other acts, documents, instruments and assurances as may be reasonably required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement by the Warrant Agent.

 

 

  

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33.

	

Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof; provided, that if such invalid or unenforceable term affects the rights, duties, obligations or liabilities of the Warrant Agent, the Warrant Agent shall be entitled to resign immediately.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

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IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed by one of its officers thereunto duly authorized as of the date first written above.

 

 

 

CEL-SCI CORPORATION

By: /s/ Geert Kersten                          

Name:      Geert Kersten

Title:        Chief Executive Officer

 

 

COMPUTERSHARE, INC.

By: /s/ Michael Legregin                   

Name:      Michael Legregin

Title:        Vice President

 

 

COMPUTERSHARE TRUST COMPANY N.A.

By: /s/ Michael Legregin                   

Name:      Michael Legregin

Title:        Vice President

  

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EXHIBIT A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

  

 

 

EXHIBIT A

 

 

COMMON STOCK PURCHASE WARRANT

 

CEL-SCI CORPORATION

 

 

	Warrant Shares: _____     	Initial Exercise Date: October 11, 2013

 

 

THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on the five (5) year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from CEL-SCI Corporation, a Colorado corporation (the “Company”), up to ______ shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1.               Definitions.  In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

 

“Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Board of Directors” means the board of directors of the Company.

 

“Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Commission” means the United States Securities and Exchange Commission.

 

“Common Stock” means the common stock of the Company, par value $0.01 per share, and any other class of securities into which such securities may hereafter be reclassified or changed.

 

“Common Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

 

  

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“Liens” means a lien, charge pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding, such as a deposition), whether commenced or threatened.

 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Subsidiary” means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

 

“Trading Day” means a day on which the Common Stock is traded on a Trading Market.

 

“Trading Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange or the OTC Bulletin Board (or any successors to any of the foregoing).

 

“Transfer Agent” means Computershare Investor Services, the current transfer agent of the Company, with a mailing address of 350 Indiana Street, Suite 800 Golden, Colorado 80401 and a facsimile number of (303) 262-0700, and any successor transfer agent of the Company.

 

“VWAP” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if the OTC Bulletin Board is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the OTC 

 

 

  

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Bulletin Board, (c) if the Common Stock is not then listed or quoted for trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the “Pink Sheets” published by Pink OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

Section 2.               Exercise.

 

a)             Exercise of the Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise in the form annexed hereto. Within three (3) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise form be required.  Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased.  The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice.  The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

b)             Exercise Price.  The exercise price per share of the Common Stock under this Warrant shall be $1.25, subject to adjustment hereunder (the “Exercise Price”).

 

c)             Cashless Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may only be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

 

  

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(A) =

	

the VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless exercise,” as set forth in the applicable Notice of Exercise;

 

	
  

	
(B) =

	
the Exercise Price of this Warrant, as adjusted hereunder; and

 

	
  

	
(X) =

	
the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

Notwithstanding anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant to this Section 2(c).

 

d)             Mechanics of Exercise.

 

i.         Delivery of Warrant Shares Upon Exercise.  The Company shall use best efforts to cause the Warrant Shares purchased hereunder to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise by the date that is three (3) Trading Days after the latest of (A) the delivery to the Company of the Notice of Exercise and (B) surrender of this Warrant (if required) (such date, the “Warrant Share Delivery Date”).   The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi) prior to the issuance of such shares, having been paid. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise.

 

 

  

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ii.        Delivery of New Warrants Upon Exercise.  If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

iii.       Rescission Rights.  If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.       Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise.  In addition to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder.  For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss.  Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

 

  

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v.        No Fractional Shares or Scrip.  No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant.  As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

vi.       Charges, Taxes and Expenses.  Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.  The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise.

 

vii.      Closing of Books.  The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

e)             Holder’s Exercise Limitations.  The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of 

 

 

 

  

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the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other  Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates.  Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith.   To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination.   In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.  For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported.  The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant.  The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply.  Any such increase or decrease will not be effective until the 61st day after such notice is delivered to the Company.  The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

 

  

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Section 3.               Certain Adjustments.

 

a)             Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged.  Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)             [RESERVED]

 

c)             Subsequent Rights Offerings.  In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

d)             Pro Rata Distributions.  During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any 

 

 

  

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limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

e)             Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant).  For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable 

 

 

  

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in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration.  If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction.  Notwithstanding anything to the contrary, in the event of a Fundamental Transaction that is (1) an all cash transaction, (2) a “Rule 13e-3 transaction” as defined in Rule 13e-3 under the Exchange Act, or (3) a Fundamental Transaction involving a person or entity not traded on a national securities exchange, including, but not limited to, the NYSE MKT, the Nasdaq Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market, the Company or any Successor Entity (as defined below) shall, at the Holder’s option, exercisable at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction, purchase this Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value of the remaining unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction.  “Black Scholes Value” means the value of this Warrant based on the Black and Scholes Option Pricing Model obtained from the “OV” function on Bloomberg, L.P. (“Bloomberg”) determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (D) a remaining option time equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date.  The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise 

 

 

  

10

  

 

 

price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for , the Company (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and the Successor Entity may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.

 

f)              Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

g)             Notice to Holder.

 

i.         Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.        Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which 

 

 

  

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the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice.  To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.  The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

Section 4.               Transfer of Warrant.

 

a)             Transferability.  This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer.  Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.  Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date the Holder delivers an assignment form to the Company assigning this Warrant full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

b)             New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney.  Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial issuance date set forth on the first page of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

 

  

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c)             Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time.  The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

Section 5.               Miscellaneous.

 

a)             No Rights as Stockholder Until Exercise.  This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3.

 

b)             Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

c)             Saturdays, Sundays, Holidays, etc.  If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding Business Day.

 

d)             Authorized Shares.

 

The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.  The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant.  The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed.  The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

 

  

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Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.  Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

 

e)              Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflict of laws thereof.  Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the transactions contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City of New York, Borough of Manhattan (the “New York Courts”).  Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such New York Courts, or such New York Courts are improper or inconvenient venue for such proceeding.  Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Warrant and agrees that such service shall constitute good and sufficient service of process and notice thereof.  

 

 

  

14

  

 

 

Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law. Each party hereto 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 Warrant or the transactions contemplated hereby. If any party shall commence an action or proceeding to enforce any provisions of this Warrant, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys’ fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

f)              Restrictions.  The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)             Nonwaiver and Expenses.  No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies.  Without limiting any other provision of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h)             Notices.  Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

i)              Limitation of Liability.  No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

j)              Remedies.  The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant.  The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

 

k)             Successors and Assigns.  Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder.  The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

 

 

  

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l)               Amendment.  This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

m)            Severability.  Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

n)             Headings.  The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

********************

 

(Signature Page Follows)

 

 

 

 

 

 

 

 

 

 

  

16

  

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

 

	 	CEL-SCI CORPORATION	 
	 	 	 	 
	
 

	
By: 

	 	 
	 	 	Name:	 
	 	 	Title:	 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

17

  

NOTICE OF EXERCISE

TO:           CEL-SCI CORPORATION

(1) The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2) Payment shall take the form of (check applicable box):

 

o in lawful money of the United States; or

 

o if permitted, the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

 

(3) Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

The Warrant Shares shall be delivered to the following DWAC Account Number:

_______________________________

_______________________________

_______________________________

[SIGNATURE OF HOLDER]

Name of Investing Entity: ____________________________________________________

Signature of Authorized Signatory of Investing Entity: ______________________________

Name of Authorized Signatory: ________________________________________________

Title of Authorized Signatory: _________________________________________________

Date: _____________________________________________________________________

  

 

  

 

ASSIGNMENT FORM

 (To assign the foregoing Warrant, execute this form and supply required information.  Do not use this form to exercise the Warrant.)

FOR VALUE RECEIVED, all of or _____ shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to:

	
Name:

	_____________________________________________________
	  	
(Please Print)

	 	 
	
Address:

	_____________________________________________________
	  	
(Please Print)

	
Dated: _______________ __, ______

	  
	 	 
	
Holder’s Signature:                                                                

	  
	 	 
	
Holder’s Address:                                                                

	  

 

  

 

  

 

 

 

	Warrant  	Warrant
	 	 
	
Certificate Number

____________________

	
THIS CERTIFICATE IS TRANSFERABLE IN CANTON,

MA, JERSEY CITY, NJ AND COLLEGE STATION TX 

	 	 
	 	 
	

CEL-SCI

Empowering Immune Defense

CEL-SCI CORPORATION

INCORPORATED UNDER THE LAWS OF THE STATE OF COLORADO

	THIS CERTIFIES THAT	
CUSIP 150837 17 7

SEE REVERSE FOR CERTAIN DETAILS

 

 

or registered assigns, is the registered holders of the number of Series S Warrants (“Warrants”) set forth above.  Each Warrant entitles the holders thereof to purchase from CEL-SCI Corporation, a corporation incorporated under the laws of Colorado (the “Company”), subject to the terms and conditions set forth hereinafter and in the Warrant Agent Agreement between the Company and Computershare Trust Company (“the Warrant Agent”) dated December 12, 2013 (“the Warrant Agreement”), at any time on before 5:00 P.M., Mountain time, on October 11, 2018 (“Expiration Date”), one fully paid and non-assessable share of Common Stock, of the Company (“Common Stock”) upon presentation and surrender of this Warrant Certificate, with the completed instructions for the registration and delivery of Common Stock, at the office of the Warrant Agent or of its successor warrant agent or, if there be no successor warrant agent, at the corporate offices of the Company, and upon payment of the Exercise Price (as defined in the Warrant Agreement) and any applicable taxes paid either in cash, or by certified or official bank check, payable in lawful money of the United States of America to the order of Computershare.  Each Warrant initially entitles the holder to purchase one share of Common Stock for $1.25.  The number and kinds of securities or other property for which the Warrants are exercisable are subject to adjustment in certain events, such as mergers, stock splits, stock dividends, reverse splits and the like, to prevent dilution.  The Company may, in its sole discretion, (i) extend the Expiration Date by providing not less than 10 days’ prior notice, or (ii) lower the Exercise Price at any time prior to the Expiration Date.

 

 

	Maximillian de Clara	 	Dated _____________
	President	SEAL  	COUNTERSIGNED AND REGISTERED:
	 	CEL-SCI CORPORATION 	COMPUTERSHARE TRUST COMPANY, N.A.
	 	COLORADO  	TRANSFER AGENT AND REGISTRAR.
	Geert R. Kersten	 	 
	Chief Executive Officer	 	 
	 	 	By _________________________________________
	 	 	AUTHORIZED SIGNATURE

 

 

 

 

 

  

 

  

 

FIRST AMENDMENT

TO

WARRANT AGENT AGREEMENT

CEL-SCI Corporation (the “Company”) and Computershare Inc. and its wholly owned subsidiary Computershare Trust Company, N.A. (collectively the “Warrant Agent”) agree to this first amendment (“Amendment”) to the Warrant Agent Agreement between the parties dated December 12, 2013 (the “Agreement”) effective as of October 15, 2014 (“Effective Date”).

WHEREAS, in 2013 the Company sold warrants (“Series S Warrants”) to public investors pursuant to a registration statements on Form S-3 (File No. 333-186103) and a related prospectus supplement.  The Series S Warrants allow the holders to purchase up to 23,624,326 shares of the Company’s common stock.

WHEREAS, pursuant to the terms of the Agreement, the Company retained the Warrant Agent to act as its warrant agent in connection with the issuance, transfer, exchange and replacement of the certificates evidencing the Series S warrants sold in 2013.

WHEREAS, the Company plans to sell additional Series S Warrants to public investors pursuant to a registration statement on Form S-3 (File No. 333-196243) and a related prospectus supplement.

WHEREAS, the Company wishes to retain the Warrant Agent to act as its warrant agent, and the Warrant Agent is willing to so act pursuant to the terms of the Agreement, in connection with the issuance, transfer and replacement of the certificates evidencing the new Series S Warrants to be sold pursuant to the Company’s registration statement on Form S-3 (File No. 333-196243).

NOW THEREFORE, in consideration of mutual agreements set forth hereinafter, and other good and valuable consideration, the parties agree as follows:

	
           1.  

	
The Warrant Agent will act as Company’s warrant agent pursuant to the terms of the Agreement, in connection with the issuance, transfer and replacement of the certificates evidencing the new Series S Warrants to be sold pursuant to the Company’s registration statement on Form S-3 (File No. 333-196243).

	
           2.  

	
Prior to the issuance of the new Series S Warrants, the Company will provide the Warrant Agent with a certified list, in a format acceptable to the Warrant Agent, of all holders of the new Series S Warrants, including each such holder’s name, address, and taxpayer identification number.

	
           3.  

	
Except as modified herein, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect.

 

 

  

 

  

 

 

	
           4.  

	
This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.  A signature to this Amendment transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives, as of the Effective Date.

 

CEL-SCI CORPORATION

By: /s/ Geert Kersten                          

Name:      Geert Kersten

Title:        Chief Executive Officer

 

 

COMPUTERSHARE INC.

By: /s/ Michael Legrigen                   

Name:      Michael Legrigen

Title:        Manager

 

 

COMPUTERSHARE TRUST COMPANY, N.A.

By: /s/ Michael Legrigen                   

Name:      Michael Legrigen

Title:        Manager

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