Document:

Amended and Restated Declaration of Trust

 Exhibit 4.1 
  
  
  
 AMENDED AND RESTATED DECLARATION

 OF TRUST 
 GMAC CAPITAL TRUST I 
 Dated as of December 30, 2009 
  
  
  

 TABLE OF CONTENTS 
  

					
	 	  	Page
		
	 ARTICLE I INTERPRETATION AND DEFINITIONS
	  	1
			
	 Section 1.1
	  	 Definitions
	  	1
		
	 ARTICLE II TRUST INDENTURE ACT
	  	7
			
	 Section 2.1
	  	 Trust Indenture Act; Application
	  	7
	 Section 2.2
	  	 Lists of Holders of Securities
	  	8
	 Section 2.3
	  	 Reports by the Institutional Trustee
	  	8
	 Section 2.4
	  	 Reports to Institutional Trustee
	  	9
	 Section 2.5
	  	 Evidence of Compliance with Conditions Precedent
	  	9
	 Section 2.6
	  	 Defaults; Waiver
	  	9
	 Section 2.7
	  	 Default; Notice
	  	10
		
	 ARTICLE III ORGANIZATION
	  	11
			
	 Section 3.1
	  	 Name
	  	11
	 Section 3.2
	  	 Office
	  	11
	 Section 3.3
	  	 Purpose
	  	11
	 Section 3.4
	  	 Authority
	  	12
	 Section 3.5
	  	 Title to Property of the Trust
	  	12
	 Section 3.6
	  	 Powers and Duties of the Administrative Trustees
	  	12
	 Section 3.7
	  	 Prohibition of Actions by the Trust and the Trustees
	  	14
	 Section 3.8
	  	 Powers and Duties of the Institutional Trustee
	  	15
	 Section 3.9
	  	 Certain Duties and Responsibilities of the Institutional Trustee
	  	17
	 Section 3.10
	  	 Certain Rights of Institutional Trustee
	  	18
	 Section 3.11
	  	 Delaware Trustee
	  	21
	 Section 3.12
	  	 Execution of Documents
	  	21
	 Section 3.13
	  	 Not Responsible for Recitals or Issuance of Securities
	  	21
	 Section 3.14
	  	 Duration of Trust
	  	21
	 Section 3.15
	  	 Mergers
	  	21
		
	 ARTICLE IV SPONSOR
	  	23
			
	 Section 4.1
	  	 Sponsor’s Purchase of Common Securities
	  	23
	 Section 4.2
	  	 Responsibilities of the Sponsor
	  	23
		
	 ARTICLE V TRUSTEES
	  	24
			
	 Section 5.1
	  	 Number of Trustees
	  	24
	 Section 5.2
	  	 Delaware Trustee
	  	24
	 Section 5.3
	  	 Institutional Trustee; Eligibility
	  	25
	 Section 5.4
	  	 Qualifications of Administrative Trustees and Delaware Trustee Generally
	  	25
	 Section 5.5
	  	 Initial Trustees; Additional Powers of Administrative Trustees
	  	26

					
	 Section 5.6
	  	 Appointment, Removal and Resignation of Trustees
	  	26
	 Section 5.7
	  	 Vacancies among Trustees
	  	28
	 Section 5.8
	  	 Effect of Vacancies
	  	28
	 Section 5.9
	  	 Meetings
	  	28
	 Section 5.10
	  	 Delegation of Power
	  	29
	 Section 5.11
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	29
		
	 ARTICLE VI DISTRIBUTIONS; EXCHANGES
	  	29
			
	 Section 6.1
	  	 Distributions
	  	29
	 Section 6.2
	  	 Exchanges
	  	30
		
	 ARTICLE VII ISSUANCE OF SECURITIES
	  	30
			
	 Section 7.1
	  	 General Provisions Regarding Securities
	  	30
		
	 ARTICLE VIII DISSOLUTION; TERMINATION OF TRUST
	  	31
			
	 Section 8.1
	  	 Dissolution of Trust
	  	31
		
	 ARTICLE IX TRANSFER OF INTERESTS
	  	32
			
	 Section 9.1
	  	 Transfer of Securities
	  	32
	 Section 9.2
	  	 Transfer of Certificates
	  	34
	 Section 9.3
	  	 Deemed Security Holders
	  	35
	 Section 9.4
	  	 Book Entry Interests
	  	35
	 Section 9.5
	  	 Notices to Clearing Agency
	  	36
	 Section 9.6
	  	 Appointment of Successor Clearing Agency
	  	36
	 Section 9.7
	  	 Definitive Trust Preferred Security Certificates
	  	36
	 Section 9.8
	  	 Mutilated, Destroyed, Lost or Stolen Certificates
	  	37
		
	 ARTICLE X LIMITATION OF LIABILITY OF HOLDERS OF SECURITIES, TRUSTEES OR OTHERS
	  	37
			
	 Section 10.1
	  	 Liability
	  	37
	 Section 10.2
	  	 Exculpation
	  	38
	 Section 10.3
	  	 Fiduciary Duty
	  	38
	 Section 10.4
	  	 Indemnification
	  	39
	 Section 10.5
	  	 Outside Businesses
	  	42
		
	 ARTICLE XI ACCOUNTING
	  	42
			
	 Section 11.1
	  	 Fiscal Year
	  	42
	 Section 11.2
	  	 Certain Accounting Matters
	  	42
	 Section 11.3
	  	 Banking
	  	43
	 Section 11.4
	  	 Withholding
	  	43

  

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	 ARTICLE XII AMENDMENTS AND MEETINGS
	  	44
			
	 Section 12.1
	  	 Amendments
	  	44
	 Section 12.2
	  	 Meetings of the Holders of Securities; Action by Written Consent
	  	45
		
	 ARTICLE XIII REPRESENTATIONS OF INSTITUTIONAL TRUSTEE AND DELAWARE TRUSTEE
	  	47
			
	 Section 13.1
	  	 Representations and Warranties of Institutional Trustee
	  	47
	 Section 13.2
	  	 Representations and Warranties of Delaware Trustee
	  	47
		
	 ARTICLE XIV MISCELLANEOUS
	  	48
			
	 Section 14.1
	  	 Notices
	  	48
	 Section 14.2
	  	 Governing Law; Waiver of Trial by Jury
	  	49
	 Section 14.3
	  	 Intention of the Parties
	  	49
	 Section 14.4
	  	 Headings
	  	49
	 Section 14.5
	  	 Successors and Assigns
	  	50
	 Section 14.6
	  	 Partial Enforceability
	  	50
	 Section 14.7
	  	 Counterparts
	  	50
			
	ANNEX I	  	TERMS OF SECURITIES	  	I-1
	EXHIBIT A-1	  	FORM OF TRUST PREFERRED SECURITY CERTIFICATE	  	A1-1
	EXHIBIT A-2	  	FORM OF COMMON SECURITY CERTIFICATE	  	A2-1
	EXHIBIT B	  	SPECIMEN OF DEBENTURE	  	B-1
	EXHIBIT C	  	SECURITIES PURCHASE AND EXCHANGE AGREEMENT	  	C-1
	EXHIBIT D	  	FORM OF TRANSFER CERTIFICATE	  	D-1
	EXHIBIT E	  	FORM OF RULE 144A TRANSFER CERTIFICATE	  	E-1

  

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 CROSS REFERENCE TABLE* 
  

					
	 Section of Trust Indenture Act of 1939, as amended
	  	 Section of Declaration

	§ 310	  		  	2.1(c)
		  	(b)	  	5.3(c), 5.3(d)
	§ 311	  	(a)	  	2.2(b)
		  	(b)	  	2.2(b)
	§ 312	  	(b)	  	2.2(b)
	§ 313	  		  	2.3
		  	(a)	  	2.3
	§ 314	  		  	2.4
		  	(a)	  	2.4, 3.6(j)
		  	(c)	  	2.5
	§ 316	  	(a)	  	2.1(a)
		  	(a)(1)(A)	  	2.6(b)(ii)
		  	(a)(1)(B)	  	2.6(a)(ii), 2.6(b)(ii), 2.6(c)
		  	(c)	  	3.6(d)
	§ 317	  		  	Section 2.1(c)
		  	(b)	  	2.1(c)

  

	*	This Cross-Reference Table does not constitute part of the Declaration and shall not affect the interpretation of any of its terms or provisions.

 AMENDED AND RESTATED 
 DECLARATION OF TRUST 
 OF 
 GMAC Capital Trust I 
 December 30, 2009 
 AMENDED AND RESTATED DECLARATION OF TRUST (“Declaration”) dated and effective as of
December 30, 2009, by the Trustees (as defined herein), the Sponsor (as defined herein) and by the holders, from time to time, of undivided beneficial interests in the Trust to be issued pursuant to this Declaration; 
 WHEREAS, the Trustees and the Sponsor established GMAC Capital Trust I (the “Trust”), a trust under the Statutory Trust Act (as
defined herein) pursuant to a Declaration of Trust dated as of December 22, 2009 (the “Original Declaration”) and a Certificate of Trust filed with the Secretary of State of the State of Delaware on December 22, 2009, for the
sole purpose of issuing and selling certain securities representing undivided beneficial interests in the assets of the Trust and acquiring certain Debentures of the Debenture Issuer; 
 WHEREAS, as of the date hereof, no interests in the Trust have been issued; 
 WHEREAS, all of the Trustees and the Sponsor, by this Declaration, amend and restate each and every term and provision of the Original
Declaration; and 
 NOW, THEREFORE, it being the intention of the parties hereto to continue the Trust as a statutory trust
under the Statutory Trust Act and that this Declaration constitute the governing instrument of such statutory trust, the Trustees declare that all assets contributed to the Trust will be held in trust for the benefit of the holders, from time to
time, of the securities representing undivided beneficial interests in the assets of the Trust issued hereunder, subject to the provisions of this Declaration. 
 ARTICLE I 
 INTERPRETATION AND DEFINITIONS 
 Section 1.1 Definitions. 
 Unless the context otherwise requires: 
 (a) Capitalized terms used in this Declaration but not defined in the
preamble above have the respective meanings assigned to them in this Section 1.1; 
 (b) a term defined anywhere in this
Declaration has the same meaning throughout; 
 (c) all references to “the Declaration” or “this
Declaration” are to this Declaration as modified, supplemented or amended from time to time; 

 (d) all references in this Declaration to Articles and Sections and Annexes and Exhibits are
to Articles and Sections of and Annexes and Exhibits to this Declaration unless otherwise specified; 
 (e) a term defined in
the Trust Indenture Act has the same meaning when used in this Declaration unless otherwise defined in this Declaration or unless the context otherwise requires; and 
 (f) a reference to the singular includes the plural and vice versa. 
 “10%
in liquidation amount of the Securities” means, except as provided in the terms of the Trust Preferred Securities or (subject to Section 2.1(a)) by the Trust Indenture Act, Holders of outstanding Securities voting together as a single
class or, as the context may require, Holders of outstanding Trust Preferred Securities or Holders of outstanding Common Securities voting separately as a class, who are the record owners of an aggregate liquidation amount representing 10% or more
of the aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which the voting percentages are determined) of all outstanding
Securities of the relevant class. 
 “Administrative Trustee” has the meaning specified in Section 5.1(b).

 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly, whether
through one of more intermediaries, Controls, is Controlled by or is under common Control with such Person, excluding any employee benefit plan or related trust; provided that (i) the Trust shall not be deemed to be an Affiliate of the Sponsor
and (ii) the United States Department of the Treasury shall not be deemed to be an Affiliate of the Sponsor for purposes hereof. 
 “Authorized Officer” of a Person means any Person that is authorized to bind such Person. 
 “Book Entry Interest” means a beneficial interest in a Global Certificate, ownership and transfers of which shall be maintained and made through book entries by a Clearing Agency as
described in Section 9.4. 
 “Business Day” means any day other than a Saturday, Sunday or any other day
on which banking institutions in the State of New York generally are authorized or required by law or other governmental action to close. 
 “Certificate” means a Common Security Certificate or a Trust Preferred Security Certificate. 
 “Change in 1940 Act Law” has the meaning set forth in Annex I hereto. 
 “Clearing Agency” means an organization registered as a “Clearing Agency” pursuant to Section 17A of the Exchange Act that is acting as depositary for the Trust Preferred Securities and in whose name or in
the name of a nominee of that organization shall be registered one or more Global Certificates and which shall undertake to effect book entry transfers and pledges of the Trust Preferred Securities. 
  

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 “Clearing Agency Participant” means a broker, dealer, bank, other financial
institution or other Person for whom from time to time the Clearing Agency effects book entry transfers and pledges of securities deposited with the Clearing Agency. 
 “Closing Date” means December 30, 2009. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor legislation. 
 “Commission” means the Securities and Exchange Commission. 
 “Common Securities” has
the meaning specified in Section 7.1. 
 “Common Security Certificate” means a definitive certificate in
fully registered form representing a Common Security substantially in the form of Exhibit A-2. 
 “Company
Indemnified Person” means (a) any Administrative Trustee; (b) any Affiliate of any Administrative Trustee; (c) any officers, directors, shareholders, members, partners, employees, representatives or agents of any
Administrative Trustee; or (d) any officer, employee or agent of the Trust or its Affiliates. 
 “Control,” “Controlled” or “Controlling” means, with respect to any Person, any circumstance in which such Person is directly or indirectly controlled by another Person by virtue of the
latter Person having the power to (i) elect, or cause the election of (whether by way of voting capital stock, by contract, trust or otherwise), the majority of the members of the board of directors or a similar governing body of the first
Person, or (ii) direct (whether by way of voting capital stock, by contract, trust or otherwise) the affairs and policies of such Person. 
 “Corporate Trust Office” means the office of the Institutional Trustee at which the corporate trust business of the Institutional Trustee shall, at any particular time, be principally
administered, which office at the date of execution of this Declaration is located at 101 Barclay Street-8W, New York, New York 10286. 
 “Covered Person” means (a) any officer, director, shareholder, partner, member, representative, employee or agent of (i) the Trust or (ii) the Trust’s Affiliates; and (b) any Holder of Securities.

 “Debenture Issuer” means GMAC in its capacity as issuer of the Debentures under the Indenture. 

“Debenture Trustee” means The Bank of New York Mellon, as trustee under the Indenture until a successor is appointed
thereunder, and thereafter means such successor trustee. 
 “Debentures” means the series of Debentures to be
issued by the Debenture Issuer under the Indenture to be held by the Institutional Trustee, a specimen certificate for such series of Debentures being Exhibit B. 
  

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 “Default” in respect of the Securities means a Default (as defined in the
Indenture) has occurred and is continuing in respect of the Debentures. 
 “Definitive Trust Preferred Security
Certificates” has the meaning set forth in Section 9.4. 
 “Delaware Trustee” has the meaning set
forth in Section 5.2. 
 “Distribution” has the meaning set forth in Section 6.1. 
 “DTC” means The Depository Trust Company, the initial Clearing Agency. 
 “ERISA” has the meaning specified in Section 9.2(c). 
 “Exchange” has the meaning set forth in Section 6.2(a). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor legislation.

 “Fiduciary Indemnified Person” has the meaning set forth in Section 10.4(b). 
 “Fiscal Year” has the meaning set forth in Section 11.1. 
 “Global Certificate” has the meaning set forth in Section 9.4. 
 “GMAC” means GMAC Inc., a Delaware corporation. 
 “Guarantee Agreement” means the guarantee agreement dated as of December 30, 2009, of GMAC, as Guarantor in respect of
the Trust Preferred Securities. 
 “Holder” means a Person in whose name a Certificate representing a Security
is registered, such Person being a beneficial owner within the meaning of the Statutory Trust Act. 
 “Indemnified
Person” means a Company Indemnified Person or a Fiduciary Indemnified Person. 
 “Indenture” means the
Indenture dated as of December 30, 2009, as amended or supplemented from time to time, between the Debenture Issuer and the Debenture Trustee, pursuant to which the Debentures are to be issued. 
 “Institutional Trustee” means the Trustee meeting the eligibility requirements set forth in Section 5.3. 

“Institutional Trustee Account” has the meaning set forth in Section 3.8(c). 
 “Investment Company” means an investment company as defined in the Investment Company Act. 
 “Investment Company Act” means the Investment Company Act of 1940, as amended from time to time, or any successor
legislation. 
  

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 “Investment Company Event” has the meaning set forth in Annex I hereto.

 “Legal Action” has the meaning set forth in Section 3.6(g). 
 “Liquidation Amount” means, with respect to Trust Preferred Securities or Common Securities, the liquidation amount per
Trust Preferred Security or Common Security, respectively, as set forth in Annex I hereto. 
 “Majority in liquidation
amount of the Securities” means, except as provided in the terms of the Trust Preferred Securities or (subject to Section 2.1(a)) by the Trust Indenture Act, Holder(s) of outstanding Securities voting together as a single class or, as
the context may require, Holders of outstanding Trust Preferred Securities or Holders of outstanding Common Securities voting separately as a class, who are the record owners of an aggregate liquidation amount representing more than 50% of the
aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which the voting percentages are determined) of all outstanding Securities
of the relevant class. 
 “Ministerial Action” has the meaning set forth in Annex I hereto. 
 “Officers’ Certificate” means, with respect to any Person, a certificate signed by two Authorized Officers of such
Person, provided that only one Authorized Officer of the Trust is required to sign on behalf of the Trust any Officers’ Certificate delivered pursuant to Section 2.5 of this Declaration. Any Officers’ Certificate delivered with
respect to compliance with a condition or covenant provided for in this Declaration shall include: 
 (a) a statement that each
officer signing the Officers’ Certificate has read the covenant or condition and the definitions relating thereto; 
 (b) a
brief statement of the nature and scope of the examination or investigation undertaken by each officer in rendering the Officers’ Certificate; 
 (c) a statement that each such officer has made such examination or investigation as, in such officer’s opinion, is necessary to enable such officer to express an informed opinion as to whether or
not such covenant or condition has been complied with; and 
 (d) a statement as to whether, in the opinion of each such
officer, such condition or covenant has been complied with. 
 “Paying Agent” has the meaning specified in
Section 3.8(h). 
 “Payment Amount” has the meaning specified in Section 6.1. 
 “Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, association,
joint stock company, limited liability company, trust, unincorporated association, or government or any agency or political subdivision thereof, or any other entity of whatever nature. 
 “Private Placement Legend” has the meaning specified in Section 9.1(b). 
  

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 “Purchase Agreement” means the Securities Purchase and Exchange Agreement
dated December 30, 2009, by and among the United States Department of the Treasury, GMAC and the Trust. 
 “Quorum” means any one Administrative Trustee or, if there is only one Administrative Trustee, such Administrative Trustee. 
 “Regulatory Capital Event” has the meaning set forth in Annex I hereto. 
 “Related Party” means, with respect to the Sponsor, any direct or indirect wholly owned subsidiary of the Sponsor or any other Person that owns, directly or indirectly, 100% of the outstanding voting securities of the
Sponsor. 
 “Responsible Officer” means, with respect to the Institutional Trustee, any officer within the
Corporate Trust Office of the Institutional Trustee with direct responsibility for the administration of this Declaration and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because
of that officer’s knowledge of and familiarity with the particular subject. 
 “Rule 3a-7” means Rule 3a-7
under the Investment Company Act. 
 “Securities” means the Common Securities and the Trust Preferred
Securities. 
 “Securities Act” means the Securities Act of 1933, as amended from time to time, or any
successor legislation. 
 “Security Registrar” has the meaning set forth in Section 9.2(a). 
 “Special Event” has the meaning set forth in Annex I hereto. 
 “Sponsor” means GMAC or any successor entity in a merger, consolidation or amalgamation, in its capacity as sponsor of the
Trust. 
 “Sponsor Affiliated Holder” has the meaning set forth in Section 6.2(a). 
 “Statutory Trust Act” means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code §3801 et seq., as it may be
amended from time to time, or any successor legislation. 
 “Successor Delaware Trustee” has the meaning set
forth in Section 5.6(b). 
 “Successor Entity” has the meaning set forth in Section 3.15(b).

 “Successor Institutional Trustee” has the meaning set forth in Section 5.6(b). 
 “Successor Securities” has the meaning set forth in Section 3.15(b). 
 “Super Majority” has the meaning set forth in Section 2.6(a)(ii). 
 “Similar Laws” has the meaning specified in Section 9.2(c). 
  

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 “Tax Event” has the meaning set forth in Annex I hereto. 
 “Transfer Certification” has the meaning set forth in Section 9.2(b). 
 “Transfer Opinion” has the meaning set forth in Section 9.2(b). 
 “Treasury Regulations” means the income tax regulations, including temporary and proposed regulations, promulgated under
the Code by the United States Treasury, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations). 
 “Trust Preferred Securities” has the meaning specified in Section 7.1. 
 “Trust Preferred Security Beneficial Owner” means, with respect to a Book Entry Interest, a Person who is the beneficial owner of such Book Entry Interest, as reflected on the books of
the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency).

 “Trust Preferred Security Certificate” means a certificate representing a Trust Preferred Security
substantially in the form of Exhibit A-1. 
 “Trustee” or “Trustees” means each Person
who has signed this Declaration as a trustee, so long as such Person shall continue in office in accordance with the terms hereof, and all other Persons who may from time to time be duly appointed, qualified and serving as Trustees in accordance
with the provisions hereof, and references herein to a Trustee or the Trustees shall refer to such Person or Persons solely in their capacity as trustees hereunder. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended from time to time, or any successor legislation. 
 “U.S. Government” means any of (i) the federal government of the United States of America, (ii) any
instrumentality or agency of the federal government of the United States of America and (iii) any Person wholly-owned by, or the sole beneficiary of which is, the federal government of the United States of America or any instrumentality or
agency thereof. 
 ARTICLE II 
 TRUST INDENTURE ACT 
 Section 2.1 Trust Indenture Act; Application. 
 (a) Except as otherwise expressly provided herein, the Trust Indenture Act shall apply as a matter of contract to this Declaration for
purposes of interpretation, construction and defining the rights and obligations hereunder, and this Declaration, the Sponsor and the Institutional Trustee shall be deemed for all purposes hereof to be subject to and governed by the Trust Indenture
Act to the same extent as would be the case if this Declaration were qualified under that Act on the date of this Declaration; provided, however, that Securities held by the U.S. Government shall not be disregarded under the terms of
the final paragraph of § 316(a) of the Trust Indenture Act. Upon and following qualification as an indenture under the Trust Indenture

  

 - 7 - 

 
Act, this Declaration shall be subject to the provisions of the Trust Indenture Act that are required to be part of this Declaration and shall, to the extent applicable, be governed by such
provisions, subject to any applicable exemptive order issued by the Commission, including any such order addressing the final paragraph of § 316(a) of the Trust Indenture Act. 
 (b) The Institutional Trustee shall be the only Trustee that is a Trustee for the purposes of the Trust Indenture Act. 
 (c) If and to the extent that any provision of this Declaration limits, qualifies or conflicts with the duties required to be imposed by
§§ 310 to 317, inclusive, of the Trust Indenture Act, and such duties are not expressly excluded by this Declaration as permitted by the Trust Indenture Act, such imposed duties shall control. 
 (d) The application of the Trust Indenture Act to this Declaration shall not affect the nature of the Securities as equity securities
representing undivided beneficial interests in the assets of the Trust. 
 Section 2.2 Lists of Holders of Securities. 
 (a) Each of the Sponsor and the Administrative Trustees on behalf of the Trust shall provide the Institutional Trustee (i) within 14
days after each record date for payment of Distributions, a list, in such form as the Institutional Trustee may reasonably require, of the names and addresses of the Holders of the Securities (“List of Holders”) as of such record
date, provided that neither the Sponsor nor the Administrative Trustees on behalf of the Trust shall be obligated to provide such List of Holders at any time the List of Holders does not differ from the most recent List of Holders given to
the Institutional Trustee by the Sponsor and the Administrative Trustees on behalf of the Trust, and (ii) at any other time, within 30 days of receipt by the Trust of a written request for a List of Holders as of a date no more than 14 days
before such List of Holders is given to the Institutional Trustee. The Institutional Trustee shall preserve, in as current a form as is reasonably practicable, all information contained in Lists of Holders given to it or which it receives in the
capacity as Paying Agent (if acting in such capacity), provided that the Institutional Trustee may destroy any List of Holders previously given to it on receipt of a new List of Holders. 
 (b) The Institutional Trustee shall comply with its obligations under §§ 311(a), 311(b) and 312(b) of the Trust Indenture Act.

 Section 2.3 Reports by the Institutional Trustee. 
 Within 60 days after May 15 of each year (commencing with the year of the first anniversary of the Closing Date), the Institutional Trustee shall provide to the Holders of the Trust Preferred
Securities such reports as are required by § 313(a) of the Trust Indenture Act, if any, in the form and in the manner provided by § 313 of the Trust Indenture Act. The Institutional Trustee shall also comply with the other requirements of
§ 313 of the Trust Indenture Act. 
  

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 Section 2.4 Reports to Institutional Trustee. 
 Each of the Sponsor and the Administrative Trustees on behalf of the Trust shall provide to the Institutional Trustee such documents, reports
and information as required by § 314(a) of the Trust Indenture Act (if any) and the compliance certificate required by § 314(a)(4) of the Trust Indenture Act in the form, in the manner and at the times required by § 314 of the Trust
Indenture Act, but, with respect to the compliance certificate, no later than 120 days after each calendar year. The Sponsor shall notify the Institutional Trustee when any Trust Preferred Securities are listed on any stock exchange. 
 Section 2.5 Evidence of Compliance with Conditions Precedent. 
 Each of the Sponsor and the Administrative Trustees on behalf of the Trust shall provide to the Institutional Trustee such evidence of compliance with any conditions precedent provided for in this
Declaration that relate to any of the matters set forth in § 314(c) of the Trust Indenture Act. Any certificate or opinion required to be given by an officer pursuant to § 314(c)(1) of the Trust Indenture Act may be given in the form of an
Officers’ Certificate. 
 Section 2.6 Defaults; Waiver. 
 (a) The Holders of a Majority in liquidation amount of Trust Preferred Securities may, by vote, on behalf of the Holders of all of the Trust
Preferred Securities, waive any past Default in respect of the Trust Preferred Securities and its consequences, provided that if the underlying Default under the Indenture: 
 (i) is not waivable under the Indenture, the Default under the Declaration shall also not be waivable; or 
 (ii) is waivable only with the consent of holders of more than a majority in principal amount of the Debentures (a “Super
Majority”) affected thereby, only the Holders of at least the proportion in aggregate liquidation amount of the Trust Preferred Securities that the relevant Super Majority represents of the aggregate principal amount of the Debentures
outstanding may waive such Default in respect of the Trust Preferred Securities under the Declaration. 
 The foregoing provisions of this
Section 2.6(a) shall be in lieu of § 316(a)(1)(B) of the Trust Indenture Act and such § 316(a)(1)(B) of the Trust Indenture Act is hereby expressly excluded from this Declaration and the Securities, as permitted by the Trust Indenture
Act. Upon such waiver, any such default shall cease to exist, and any Default with respect to the Trust Preferred Securities arising therefrom shall be deemed to have been cured, for every purpose of this Declaration, but no such waiver shall extend
to any subsequent or other default or a Default with respect to the Trust Preferred Securities or impair any right consequent thereon. Any waiver by the Holders of the Trust Preferred Securities of a Default with respect to the Trust Preferred
Securities shall also be deemed to constitute a waiver by the Holders of the Common Securities of any such Default with respect to the Common Securities for all purposes of this Declaration without any further act, vote, or consent of the Holders of
the Common Securities. 
  

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 (b) The Holders of a Majority in liquidation amount of the Common Securities may, by vote on
behalf of the Holders of all of the Common Securities, waive any past Default with respect to the Common Securities and its consequences, provided that if the underlying Default under the Indenture: 
 (i) is not waivable under the Indenture, except where the Holders of the Common Securities are deemed to have waived such Default under the
Declaration as provided in this Section 2.6(b), the Default under the Declaration shall also not be waivable; or 
 (ii) is
waivable only with the consent of a Super Majority, except where the Holders of the Common Securities are deemed to have waived such Default under the Declaration as provided in this Section 2.6(b), only the Holders of at least the proportion
in aggregate liquidation amount of the Common Securities that the relevant Super Majority represents of the aggregate principal amount of the Debentures outstanding may waive such Default in respect of the Common Securities under the Declaration;

 provided, further each Holder of Common Securities will be deemed to have waived any such Default and all Defaults with respect
to the Common Securities and its consequences until all Defaults with respect to the Trust Preferred Securities have been cured, waived or otherwise eliminated, and until such Defaults with respect to the Trust Preferred Securities have been so
cured, waived or otherwise eliminated, the Institutional Trustee will be deemed to be acting solely on behalf of the Holders of the Trust Preferred Securities and only the Holders of the Trust Preferred Securities will have the right to direct the
Institutional Trustee in accordance with the terms of the Securities. The foregoing provisions of this Section 2.6(b) shall be in lieu of §§ 316(a)(1)(A) and 316(a)(1)(B) of the Trust Indenture Act and such §§ 316(a)(1)(A)
and 316(a)(1)(B) of the Trust Indenture Act are hereby expressly excluded from this Declaration and the Securities, as permitted by the Trust Indenture Act. Subject to the foregoing provisions of this Section 2.6(b), upon the waiver of a
Default by the Holders of a Majority in liquidation amount of the Common Securities, any such default shall cease to exist and any Default with respect to the Common Securities arising therefrom shall be deemed to have been cured for every purpose
of this Declaration, but no such waiver shall extend to any subsequent or other default or Default with respect to the Common Securities or impair any right consequent thereon. 
 (c) A waiver of a Default under the Indenture by the Institutional Trustee at the direction of the Holders of the Trust Preferred
Securities, constitutes a waiver of the corresponding Default under this Declaration. The foregoing provisions of this Section 2.6(c) shall be in lieu of § 316(a)(1)(B) of the Trust Indenture Act and such § 316(a)(1)(B) of the Trust
Indenture Act is hereby expressly excluded from this Declaration and the Securities, as permitted by the Trust Indenture Act. 
 Section 2.7
Default; Notice. 
 (a) The Institutional Trustee shall, within 90 days after the occurrence of a Default, transmit by
mail, first class postage prepaid, to the Holders of the Securities, notices of (i) all defaults with respect to the Securities actually known to a Responsible Officer of the Institutional Trustee, unless such defaults have been cured before
the giving of such notice (the term “defaults” for the purposes of this Section 2.7(a) being hereby defined to be a Default as defined in the Indenture, not including any periods of grace provided for therein and irrespective of the

  

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giving of any notice provided therein) and (ii) any notice of default received from the Indenture Trustee with respect to the Debentures, which notice from the Institutional Trustee to the
Holders shall state that a Default under the Indenture also constitutes a Default with respect to the Securities; provided that, except for a default in the payment of principal of (or premium, if any) or interest on any of the Debentures or
in the payment of any sinking fund installment established for the Debentures, the Institutional Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Institutional Trustee in good faith determines that
the withholding of such notice is in the interests of the Holders of the Securities. 
 (b) The Institutional Trustee shall not
be deemed to have knowledge of any default except: 
 (i) a default under Sections 5.7(b) and 5.7(c) of the Indenture; or

 (ii) any default as to which the Institutional Trustee shall have received written notice or of which a Responsible Officer
of the Institutional Trustee charged with the administration of this Declaration shall have actual knowledge. 
 ARTICLE III

 ORGANIZATION 
 Section 3.1 Name. 
 The Trust continued hereby shall be known as “GMAC Capital Trust I,” as such name
may be modified from time to time by the Administrative Trustees following written notice to the Institutional Trustee, the Delaware Trustee and the Holders of Securities. The Trust’s activities may be conducted under the name of the Trust or
any other name deemed advisable by the Administrative Trustees. 
 Section 3.2 Office. 
 The address of the principal office of the Trust is c/o GMAC Inc., 200 Renaissance Center, P.O. Box 200, Detroit, Michigan 48265-2000. On 10
Business Days written notice to the Institutional Trustee, the Delaware Trustee and the Holders of Securities, the Administrative Trustees may designate another principal office. 
 Section 3.3 Purpose. 
 The exclusive purposes and functions of the Trust are
(a) to issue and sell the Trust Preferred Securities, (b) to issue and sell the Common Securities, (c) to acquire the Debentures from the Debenture Issuer, and (d) except as otherwise limited herein, to engage in only those other
activities necessary or incidental thereto. The Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, pledge any of its assets, or otherwise take any action or undertake (or permit to be undertaken) any activity
that would cause the Trust not to be classified for United States federal income tax purposes as a grantor trust. 
  

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 Section 3.4 Authority. 
 Subject to the limitations provided in this Declaration and to the specific duties of the Institutional Trustee, the Administrative Trustees shall have exclusive and complete authority to carry out the
purposes of the Trust. An action taken by the Administrative Trustees in accordance with their powers shall constitute the act of and serve to bind the Trust and an action taken by the Institutional Trustee on behalf of the Trust in accordance with
its powers shall constitute the act of and serve to bind the Trust. In dealing with the Trustees acting on behalf of the Trust, no person shall be required to inquire into the authority of the Trustees to bind the Trust. Persons dealing with the
Trust are entitled to rely conclusively on the power and authority of the Trustees as set forth in this Declaration. 
 Section 3.5 Title to
Property of the Trust. 
 Except as provided in Section 3.8 with respect to the Debentures and the Institutional Trustee
Account or as otherwise provided in this Declaration, legal title to all assets of the Trust shall be vested in the Trust. The Holders shall not have legal title to any part of the assets of the Trust, but shall have an undivided beneficial interest
in the assets of the Trust. 
 Section 3.6 Powers and Duties of the Administrative Trustees. 
 The Administrative Trustees shall have the exclusive power, duty and authority to cause the Trust to engage in the following activities, if
and as applicable (and subject, as applicable, to the terms and conditions of the Purchase Agreement): 
 (a) to issue the Trust
Preferred Securities as described in the Purchase Agreement and in accordance with this Declaration and to issue and sell the Common Securities in accordance with this Declaration; provided, however, that the Trust may issue no more
than one series of Trust Preferred Securities and no more than one series of Common Securities, and, provided further, that there shall be no interests in the Trust other than the Securities, and the issuance of Securities shall be limited to
a simultaneous issuance of both Trust Preferred Securities and Common Securities on the Closing Date; 
 (b) in connection with
the issuance of the Trust Preferred Securities, at the direction of the Sponsor, to: 
 (i) execute and file with the Commission
on behalf of the Trust a registration statement on Form S-3 or on another appropriate form, or a registration statement under Rule 462(b) of the Securities Act, in each case prepared by the Sponsor, including any pre-effective or post-effective
amendments thereto, relating to the registration under the Securities Act of the Trust Preferred Securities; 
 (ii) execute and
file any documents prepared by the Sponsor, or take any acts as determined by the Sponsor to be necessary in order to qualify or register all or part of the Trust Preferred Securities in any State in which the Sponsor has determined to qualify or
register such Trust Preferred Securities for sale; 
  

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 (iii) execute and file an application, prepared by the Sponsor, to the New York Stock
Exchange or any other national stock exchange for listing upon notice of issuance of any Trust Preferred Securities; and 
 (iv)
execute and file with the Commission on behalf of the Trust a registration statement on Form 8-A, prepared by the Sponsor, including any pre-effective or post-effective amendments thereto, relating to the registration of the Trust Preferred
Securities under Section 12(b) of the Exchange Act. 
 (c) to acquire the Debentures as described in the Purchase
Agreement; provided, however, that the Administrative Trustees shall cause legal title to the Debentures to be held of record in the name of the Institutional Trustee for the benefit of the Holders of the Trust Preferred Securities and
the Holders of Common Securities; 
 (d) to give the Sponsor and the Institutional Trustee prompt written notice of the
occurrence of a Special Event, provided that the Administrative Trustees shall consult with the Sponsor and the Institutional Trustee before taking or refraining from taking any Ministerial Action in relation to a Special Event; 
 (e) to establish a record date with respect to all actions to be taken hereunder that require a record date be established, including and
with respect to, for the purposes of § 316(c) of the Trust Indenture Act, Distributions, voting rights, redemptions and exchanges, and to issue relevant notices to the Holders of Trust Preferred Securities and Holders of Common Securities as to
such actions and applicable record dates; 
 (f) to take all actions and perform such duties as may be required of the
Administrative Trustees pursuant to the terms of the Securities; 
 (g) to bring or defend, pay, collect, compromise, arbitrate,
resort to legal action, or otherwise adjust claims or demands of or against the Trust (“Legal Action”), unless pursuant to Section 3.8(e), the Institutional Trustee has the exclusive power to bring such Legal Action;

 (h) to employ or otherwise engage employees and agents (who may be designated as officers with titles) and managers,
contractors, advisors, and consultants and pay reasonable compensation for such services; 
 (i) to cause the Trust to comply
with the Trust’s obligations under the Trust Indenture Act; 
 (j) to give the certificate required by § 314(a)(4) of
the Trust Indenture Act to the Institutional Trustee, which certificate may be executed by any Administrative Trustee; 
 (k) to
incur expenses that are necessary or incidental to carry out any of the purposes of the Trust; 
 (l) to act as, or appoint
another Person to act as, registrar and transfer agent for the Securities; 
  

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 (m) to give prompt written notice to the Holders of the Securities of any notice received
from the Debenture Issuer of its election to defer payments of interest on the Debentures by extending the interest payment period under the Indenture; 
 (n) to take all action that may be necessary or appropriate for the preservation and the continuation of the Trust’s valid existence, rights, franchises and privileges as a statutory trust under the
laws of the State of Delaware and of each other jurisdiction in which such existence is necessary to protect the limited liability of the Holders of the Trust Preferred Securities or to enable the Trust to effect the purposes for which the Trust was
created; 
 (o) to take any action, not inconsistent with this Declaration or with applicable law, that the Administrative
Trustees determine in their discretion to be necessary or desirable in carrying out the activities of the Trust as set out in this Section 3.6, including, but not limited to: 
 (i) causing the Trust not to be deemed to be an Investment Company required to be registered under the Investment Company Act; 

(ii) causing the Trust to be classified for United States federal income tax purposes as a grantor trust; and 
 (iii) cooperating with the Debenture Issuer to ensure that the Debentures will be treated as indebtedness of the Debenture Issuer for United
States federal income tax purposes; 
 provided that any such action does not adversely affect the interests of Holders; 
 (p) to take all action necessary to cause all applicable tax returns and tax information reports that are required to be filed with respect
to the Trust to be duly prepared and filed by the Administrative Trustees, on behalf of the Trust; and 
 (q) to execute all
documents or instruments (including the Purchase Agreement), perform all duties and powers, and do all things for and on behalf of the Trust in all matters necessary or incidental to the foregoing. 
 The Administrative Trustees must exercise the powers set forth in this Section 3.6 in a manner that is consistent with the purposes and
functions of the Trust set out in Section 3.3, and the Administrative Trustees shall not take any action that is inconsistent with the purposes and functions of the Trust set forth in Section 3.3. 
 Subject to this Section 3.6, the Administrative Trustees shall have none of the powers or the authority of the Institutional Trustee
set forth in Section 3.8. 
 Any expenses incurred by the Administrative Trustees pursuant to this Section 3.6 shall
be reimbursed by the Debenture Issuer. 
 Section 3.7 Prohibition of Actions by the Trust and the Trustees. 
 (a) The Trust shall not, and the Trustees (including the Institutional Trustee) shall not cause the Trust to, engage in any activity other
than as required or authorized by this Declaration. In particular, the Trust shall not: 
 (i) invest any proceeds received by
the Trust from holding the Debentures, but shall promptly distribute all such proceeds to Holders of Securities pursuant to the terms of this Declaration and of the Securities; 
  

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 (ii) acquire any assets other than as expressly provided herein; 
 (iii) possess Trust property for other than a Trust purpose; 
 (iv) make any loans or incur any indebtedness; 
 (v) possess any power or
otherwise act in such a way as to vary the Trust assets or the terms of the Securities in any way whatsoever; 
 (vi) issue any
securities or other evidences of beneficial ownership of, or beneficial interest in, the Trust other than the Securities; or 
 (vii) other than as provided in this Declaration or Annex I, (A) direct the time, method and place of exercising any trust or power conferred upon the Debenture Trustee with respect to the Debentures, (B) waive any past default
that is waivable under the Indenture, (C) exercise any right to rescind or annul any declaration that the principal of all the Debentures shall be due and payable or (D) consent to any amendment, modification or termination of the
Indenture or the Debentures where such consent shall be required unless the Trust shall have obtained an opinion of nationally recognized independent tax counsel experienced in such matters to the effect that as a result of such action, the Trust
will not fail to be classified as a grantor trust for United States federal income tax purposes. 
 Section 3.8 Powers and Duties of the
Institutional Trustee. 
 (a) The legal title to the Debentures shall be owned by and held of record in the name of the
Institutional Trustee in trust for the benefit of the Holders of the Securities. The right, title and interest of the Institutional Trustee to the Debentures shall vest automatically in each Person who may hereafter be appointed as Institutional
Trustee in accordance with Section 5.6. Such vesting and cessation of title shall be effective whether or not conveying documents with regard to the Debentures have been executed and delivered. 
 (b) The Institutional Trustee shall not transfer its right, title and interest in the Debentures to the Administrative Trustees or to the
Delaware Trustee (if the Institutional Trustee does not also act as Delaware Trustee). 
 (c) The Institutional Trustee shall:

 (i) establish and maintain a segregated non-interest bearing trust account (the “Institutional Trustee
Account”) in the name of and under the exclusive control of the Institutional Trustee on behalf of the Holders of the Securities and, upon the receipt of payments of funds made in respect of the Debentures held by the Institutional Trustee,
deposit such funds into the Institutional Trustee Account and make payments to the Holders of the Trust Preferred Securities and Holders of the Common Securities from the Institutional Trustee Account in accordance with Section 6.1. Funds in
the Institutional Trustee Account shall be held uninvested until disbursed in accordance with this Declaration. The Institutional Trustee Account shall be

  

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an account that is maintained with a banking institution the rating on whose long-term unsecured indebtedness assigned by a “nationally recognized statistical rating organization,” as
that term is defined for purposes of Rule 436(g)(2) under the Securities Act, is at least equal to the rating assigned to the Trust Preferred Securities by a nationally recognized statistical rating organization; 
 (ii) engage in such ministerial activities as shall be necessary or appropriate to effect the redemption of the Trust Preferred Securities
and the Common Securities to the extent the Debentures are redeemed or mature and to effect the Exchange of Trust Preferred Securities and Common Securities for Debentures to the extent the Sponsor or a Sponsor Affiliated Holder elects to effect
such Exchange pursuant to Section 6.2 hereof; and 
 (iii) upon written notice of distribution issued by the Administrative
Trustees in accordance with the terms of the Securities, engage in such ministerial activities as shall be necessary or appropriate to effect the distribution of the Debentures to Holders of Securities pursuant to the terms of the Securities.

 (d) The Institutional Trustee shall take all actions and perform such duties as may be specifically required of the
Institutional Trustee pursuant to the terms of the Securities. 
 (e) Subject to Section 2.6, the Institutional Trustee
shall take any Legal Action which arises out of or in connection with a Default of which a Responsible Officer of the Institutional Trustee has actual knowledge or the Institutional Trustee’s duties and obligations under this Declaration or the
Trust Indenture Act. 
 (f) The Institutional Trustee shall not resign as a Trustee unless either: 
 (i) the Trust has been completely liquidated and the proceeds of the liquidation distributed to the Holders of Securities, pursuant to the
terms of the Securities; or 
 (ii) a Successor Institutional Trustee has been appointed and has accepted that appointment in
accordance with Section 5.6. 
 (g) The Institutional Trustee shall have the legal power to exercise all of the rights,
powers and privileges of a holder of Debentures under the Indenture and, if a Default actually known to a Responsible Officer of the Institutional Trustee occurs and is continuing, the Institutional Trustee shall, for the benefit of Holders of the
Securities, enforce its rights as holder of the Debentures subject to the rights of the Holders pursuant to the terms of such Securities, this Declaration, the Statutory Trust Act and the Trust Indenture Act. 
 (h) The Institutional Trustee may authorize one or more Persons (each, a “Paying Agent”) to pay Distributions, redemption
payments or liquidation payments on behalf of the Trust with respect to all Securities and any such Paying Agent shall comply with § 317(b) of the Trust Indenture Act. Any Paying Agent may be removed by the Institutional Trustee at any time and
a successor Paying Agent or additional Paying Agents may be appointed at any time by the Institutional Trustee. 
  

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 (i) Subject to this Section 3.8, the Institutional Trustee shall have none of the
duties, liabilities, powers or the authority of the Administrative Trustees set forth in Section 3.6. 
 The Institutional
Trustee must exercise the powers set forth in this Section 3.8 in a manner that is consistent with the purposes and functions of the Trust set out in Section 3.3, and the Institutional Trustee shall not take any action that is inconsistent
with the purposes and functions of the Trust set out in Section 3.3. 
 Section 3.9 Certain Duties and Responsibilities of the
Institutional Trustee. 
 (a) The Institutional Trustee, before the occurrence of any Default and after the curing of all
Defaults that may have occurred, shall undertake to perform only such duties as are specifically set forth in this Declaration and no implied covenants shall be read into this Declaration against the Institutional Trustee. In case a Default has
occurred (that has not been cured or waived pursuant to Section 2.6) of which a Responsible Officer of the Institutional Trustee has actual knowledge, the Institutional Trustee shall exercise such of the rights and powers vested in it by this
Declaration, and use the same degree of care and skill in the exercise of such rights and powers, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (b) No provision of this Declaration shall be construed to relieve the Institutional Trustee from liability for its own negligent action,
its own negligent failure to act, or its own willful misconduct, except that: 
 (i) prior to the occurrence of a Default and
after the curing or waiving of all such Defaults that may have occurred: 
 (A) the duties and obligations of the
Institutional Trustee shall be determined solely by the express provisions of this Declaration and the Institutional Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this
Declaration, and no implied covenants or obligations shall be read into this Declaration against the Institutional Trustee; and 
 (B) in the absence of willful misconduct on the part of the Institutional Trustee, the Institutional Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon any certificates or opinions furnished to the Institutional Trustee and conforming to the requirements of this Declaration; but in the case of any such certificates or opinions that by any provision hereof are specifically
required to be furnished to the Institutional Trustee, the Institutional Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Declaration (but need not confirm or investigate the
accuracy of mathematical calculations or other facts stated therein); 
 (ii) the Institutional Trustee shall not be liable for
any error of judgment made in good faith by a Responsible Officer of the Institutional Trustee, unless it shall be proved that the Institutional Trustee was negligent in ascertaining the pertinent facts; 
  

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 (iii) the Institutional Trustee shall not be liable with respect to any action taken or
omitted to be taken by it in good faith in accordance with the direction of the Holders of not less than a Majority in liquidation amount of the Securities relating to the time, method and place of conducting any proceeding for any remedy available
to the Institutional Trustee, or exercising any trust or power conferred upon the Institutional Trustee under this Declaration; 
 (iv) no provision of this Declaration shall require the Institutional Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or
powers, if it shall have reasonable grounds for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Declaration or indemnity reasonably satisfactory to the Institutional Trustee against
such risk or liability is not reasonably assured to it; 
 (v) the Institutional Trustee’s sole duty with respect to the
custody, safe keeping and physical preservation of the Debentures and the Institutional Trustee Account shall be to deal with such property in a similar manner as the Institutional Trustee deals with similar property for its own account, subject to
the protections and limitations on liability afforded to the Institutional Trustee under this Declaration and the Trust Indenture Act; 
 (vi) the Institutional Trustee shall have no duty or liability for or with respect to the value, genuineness, existence or sufficiency of the Debentures or the payment of any taxes or assessments levied thereon or in connection therewith;

 (vii) the Institutional Trustee shall not be liable for any interest on any money received by it except as it may otherwise
agree with the Sponsor. Money held by the Institutional Trustee need not be segregated from other funds held by it except in relation to the Institutional Trustee Account maintained by the Institutional Trustee pursuant to Section 3.8(c)(i) and
except to the extent otherwise required by law; and 
 (viii) the Institutional Trustee shall not be responsible for monitoring
the compliance by the Administrative Trustees or the Sponsor with their respective duties under this Declaration, nor shall the Institutional Trustee be liable for any default or misconduct of the Administrative Trustees or the Sponsor. 

Section 3.10 Certain Rights of Institutional Trustee. 
 (a) Subject to the provisions of Section 3.9: 
 (i) the Institutional Trustee
may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, 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, sent or presented by the proper party or parties; 
 (ii) any direction or act of the Sponsor or the Administrative Trustees contemplated by this Declaration shall be sufficiently evidenced by an Officers’ Certificate; 
  

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 (iii) whenever in the administration of this Declaration, the Institutional Trustee shall
deem it desirable that a matter be proved or established before taking, suffering or omitting any action hereunder, the Institutional Trustee (unless other evidence is herein specifically prescribed) may, in the absence of bad faith on its part,
request and conclusively rely upon an Officers’ Certificate which, upon receipt of such request, shall be promptly delivered by the Sponsor or the Administrative Trustees; 
 (iv) the Institutional Trustee shall have no duty to see to any recording, filing or registration of any instrument (including any financing
or continuation statement or any filing under tax or securities laws) or any rerecording, refiling or registration thereof; 
 (v) the Institutional Trustee may consult with counsel or other experts and the advice or opinion of such counsel and experts with respect to legal matters or advice within the scope of such experts’ area of expertise 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 accordance with such advice or opinion, such counsel may be counsel to the Sponsor or any of its Affiliates, and may
include any of its employees. The Institutional Trustee shall have the right at any time to seek instructions concerning the administration of this Declaration from any court of competent jurisdiction; 
 (vi) the Institutional Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Declaration at the
request or direction of any Holder, unless such Holder shall have provided to the Institutional Trustee security and indemnity, reasonably satisfactory to the Institutional Trustee, against the costs, expenses (including attorneys’ fees and
expenses and the expenses of the Institutional Trustee’s agents, nominees or custodians) and liabilities that might be incurred by it in complying with such request or direction, including such reasonable advances as may be requested by the
Institutional Trustee, provided that nothing contained in this Section 3.10(a)(vi) shall be taken to relieve the Institutional Trustee, upon the occurrence of a Default, of its obligation to exercise the rights and powers vested in it by
this Declaration; 
 (vii) the Institutional 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, but the Institutional Trustee, in its
discretion and after prior consultation with the Sponsor, may make such further inquiry or investigation into such facts or matters as it may see fit at the expense of the Sponsor and shall incur no liability of any kind by reason of such inquiry or
investigation; 
 (viii) the Institutional Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents, custodians, nominees or attorneys and the Institutional 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; 
 (ix) the rights, privileges, protections, immunities and benefits given to the Institutional Trustee, including,
without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Institutional Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder by the Institutional
Trustee and appointed with due care by it; 
  

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 (x) any action taken by the Institutional Trustee or its agents hereunder shall bind the
Trust and the Holders of the Securities, and the signature of the Institutional Trustee or its agents alone shall be sufficient and effective to perform any such action and no third party shall be required to inquire as to the authority of the
Institutional Trustee to so act or as to its compliance with any of the terms and provisions of this Declaration, both of which shall be conclusively evidenced by the Institutional Trustee’s or its agent’s taking such action; 

(xi) whenever in the administration of this Declaration the Institutional Trustee shall deem it desirable to receive instructions with
respect to enforcing any remedy or right or taking any other action hereunder, the Institutional Trustee (i) may request instructions from the Holders of the Securities which instructions may only be given by the Holders of the same proportion
in liquidation amount of the Securities as would be entitled to direct the Institutional Trustee under the terms of the Securities in respect of such remedy, right or action, (ii) may refrain from enforcing such remedy or right or taking such
other action until such instructions are received, and (iii) shall be protected in conclusively relying on or acting in or accordance with such instructions; 
 (xii) except as otherwise expressly provided by this Declaration, the Institutional Trustee shall not be under any obligation to take any action that is discretionary under the provisions of this
Declaration; 
 (xiii) in no event shall the Institutional Trustee be liable for special, indirect or consequential loss or
damage of any kind whatsoever (including but not limited to lost profits), even if the Institutional Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; and 
 (xiv) in no event shall the Institutional Trustee be responsible or liable for any failure or delay in the performance of its obligations
under this Declaration arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or
natural catastrophes or acts of God, and interruptions, loss or malfunctions of third-party utilities, communications or computer (software or hardware) services. 
 (b) No provision of this Declaration shall be deemed to impose any duty or obligation on the Institutional Trustee to perform any act or acts or exercise any right, power, duty or obligation conferred or
imposed on it, in any jurisdiction in which it shall be illegal, or in which the Institutional Trustee shall be unqualified or incompetent in accordance with applicable law, to perform any such act or acts, or to exercise any such right, power, duty
or obligation. No permissive power or authority available to the Institutional Trustee shall be construed to be a duty. 
  

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 Section 3.11 Delaware Trustee. 
 The Delaware Trustee is appointed to serve as the trustee of the Trust in the State of Delaware for the sole purpose of satisfying the
requirement of Section 3807(a) of the Statutory Trust Act that the Trust have at least one trustee with a principal place of business in the State of Delaware. It is understood and agreed by the parties hereto that the Delaware Trustee shall
have none of the duties or liabilities of the Administrative Trustees or the Institutional Trustee. The duties of the Delaware Trustee shall be limited to (i) accepting legal process served on the Trust in the State of Delaware and
(ii) the execution of any certificates required to be filed with the Delaware Secretary of State which the Delaware Trustee is required to execute under Section 3811 of the Statutory Trust Act. To the extent that, at law or in equity, the
Delaware Trustee has duties (including fiduciary duties) and liabilities relating thereto to the Trust or the Holders, it is hereby understood and agreed by the other parties hereto that such duties and liabilities are replaced by the duties and
liabilities of the Delaware Trustee expressly set forth in this Declaration. The Delaware Trustee shall have no liability for the acts or omissions of the Administrative Trustees or the Institutional Trustee. The Delaware Trustee shall be entitled
to all of the same rights, protections, indemnities and immunities under this Declaration and with respect to the Trust as the Institutional Trustee. 
 Section 3.12 Execution of Documents. 
 Unless otherwise determined by the Administrative Trustees, and except as
otherwise required by the Statutory Trust Act, any Administrative Trustee is authorized to execute on behalf of the Trust any documents that the Administrative Trustees have the power and authority to execute pursuant to Section 3.6;
provided that the registration statement referred to in Section 3.6(b)(i), including any amendments thereto, shall be signed by all of the Administrative Trustees. 
 Section 3.13 Not Responsible for Recitals or Issuance of Securities. 
 The
recitals contained in this Declaration and the Securities shall be taken as the statements of the Sponsor, and the Trustees do not assume any responsibility for their correctness. The Trustees make no representations as to the value or condition of
the property of the Trust or any part thereof. The Trustees make no representations as to the validity or sufficiency of this Declaration or the Securities. 
 Section 3.14 Duration of Trust. 
 The Trust, unless dissolved and terminated
pursuant to the provisions of Article VIII hereof, shall have existence for fifty-five (55) years from the Closing Date. 
 Section 3.15
Mergers. 
 (a) The Trust may not consolidate, amalgamate, merge with or into, or be replaced by, or convey, transfer or
lease its properties and assets substantially as an entirety to any corporation or other body, except as described in Section 3.15(b) and (c). 
  

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 (b) The Trust may, with the consent of the Administrative Trustees or, if there are more
than two, a majority of the Administrative Trustees and without the consent of the Holders of the Securities, the Delaware Trustee or the Institutional Trustee, consolidate, amalgamate, merge with or into, or be replaced by a trust organized as such
under the laws of any State; provided that: 
 (i) such successor entity (the “Successor Entity”)
either: 
 (A) expressly assumes all of the obligations of the Trust under the Securities; or 
 (B) substitutes for the Securities other securities having substantially the same terms as the Trust Preferred Securities
(the “Successor Securities”) so long as the Successor Securities rank the same as the Trust Preferred Securities rank with respect to Distributions and payments upon liquidation, redemption and otherwise; 
 (ii) the Debenture Issuer expressly acknowledges a trustee of the Successor Entity that possesses the same powers and duties as the
Institutional Trustee in its capacity as the Holder of the Debentures; 
 (iii) the Trust Preferred Securities or any Successor
Securities are listed, or any Successor Securities will be listed upon notification of issuance, on any national securities exchange or with any other organization on which the Trust Preferred Securities are then listed or quoted; 
 (iv) such merger, consolidation, amalgamation or replacement does not cause the Trust Preferred Securities (including any Successor
Securities) to be downgraded by any nationally recognized statistical rating organization; 
 (v) such merger, consolidation,
amalgamation or replacement does not adversely affect the rights, preferences and privileges of the Holders of the Securities (including any Successor Securities) in any material respect (other than with respect to any dilution of such Holders’
interests in the new entity as a result of such merger, consolidation, amalgamation or replacement); 
 (vi) such Successor
Entity has a purpose substantially identical to that of the Trust; 
 (vii) prior to such merger, consolidation, amalgamation or
replacement, the Trust has received an opinion of a nationally recognized independent counsel to the Trust experienced in such matters to the effect that: 
 (A) such merger, consolidation, amalgamation or replacement does not adversely affect the rights, preferences and privileges of the Holders of the Securities (including any Successor Securities) in any
material respect (other than with respect to any dilution of the Holders’ interest in the new entity); and 
  

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 (B) following such merger, consolidation, amalgamation or replacement,
neither the Trust nor the Successor Entity will be required to register as an Investment Company; and 
 (C)
following such merger, consolidation, amalgamation or replacement, the Trust (or the Successor Entity) will continue to be classified as a grantor trust for United States federal income tax purposes; and 
 (viii) the Sponsor guarantees the obligations of such Successor Entity under the Successor Securities at least to the extent provided by the
Guarantee Agreement. 
 (c) Notwithstanding Section 3.15(b), the Trust shall not, except with the consent of Holders of
100% in liquidation amount of the Securities, consolidate, amalgamate, merge with or into, or be replaced by any other entity or permit any other entity to consolidate, amalgamate, merge with or into, or replace it, if in the opinion of a nationally
recognized independent tax counsel experienced in such matters, such consolidation, amalgamation, merger or replacement would cause the Trust or the Successor Entity to be classified as other than a grantor trust for United States federal income tax
purposes. 
 ARTICLE IV 
 SPONSOR 
 Section 4.1 Sponsor’s Purchase of Common Securities. 
 On the Closing Date, the Sponsor will purchase all of the Common Securities issued by the Trust at the same time as the Trust Preferred
Securities are issued. 
 Section 4.2 Responsibilities of the Sponsor. 
 In connection with the issue of the Trust Preferred Securities, the Sponsor shall have the exclusive right to engage in the following
activities, if and as applicable (and subject, as applicable, to the terms and conditions of the Purchase Agreement): 
 (a) to
prepare for filing by the Trust with the Commission a registration statement on Form S-3 or on another appropriate form, or a registration statement under Rule 462(b) of the Securities Act, including any pre-effective or post-effective amendments
thereto, relating to the registration under the Securities Act of the Trust Preferred Securities; 
 (b) to determine the States
in which to take appropriate action to qualify or register for sale all or part of the Trust Preferred Securities and to do any and all such acts, other than actions which must be taken by the Trust, and advise the Trust of actions it must take, and
prepare for execution and filing any documents to be executed and filed by the Trust, as the Sponsor deems necessary or advisable in order to comply with the applicable laws of any such States; 
 (c) to prepare for filing by the Trust an application to the New York Stock Exchange or any other national stock exchange for listing upon
notice of issuance of any Trust Preferred Securities; 
  

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 (d) to negotiate the terms of the Purchase Agreement and other related agreements providing
for the sale of the Trust Preferred Securities. The Sponsor shall have the authority to execute and deliver the Purchase Agreement on behalf of the Trust; 
 (e) to prepare for filing by the Trust with the Commission a registration statement on Form 8-A, including any pre-effective or post-effective amendments thereto, relating to the registration of the Trust
Preferred Securities under Section 12(b) of the Exchange Act, including any amendments thereto; and 
 (f) to otherwise
carry out and perform the provisions of the Purchase Agreement providing for, among other things, the issuance of the Trust Preferred Securities. 
 ARTICLE V 
 TRUSTEES 
 Section 5.1 Number of Trustees; U.S. Person. 
 The number of Trustees initially shall be four (4), and: 
 (a) at any time before
the issuance of any Securities, the Sponsor may, by written instrument, increase or decrease the number of Trustees; 
 (b)
after the issuance of any Securities, the number of Trustees may be increased or decreased by vote of the Holders of a majority in liquidation amount of the Common Securities voting as a class at a meeting of the Holders of the Common Securities or
by written consent, provided, however, that the number of Trustees shall in no event be less than two (2); provided further that (1) one Trustee, in the case of a natural person, shall be a person who is a resident of the
State of Delaware or that, if not a natural person, shall be an entity which has its principal place of business in the State of Delaware (the “Delaware Trustee”); (2) there shall be at least one Trustee who is an employee or
officer of, or is affiliated with the Sponsor (a “Administrative Trustee”); and (3) one Trustee shall be the Institutional Trustee, and such Trustee may also serve as Delaware Trustee if it meets the applicable requirements;
and 
 (c) no Person shall serve as a Trustee unless such Person is a “United States person” within the meaning of
Section 7701(a)(30) of the Code. 
 Section 5.2 Delaware Trustee. 
 If required by the Statutory Trust Act, the Delaware Trustee shall be: 
 (a) a natural person who is a resident of the State of Delaware; or 
 (b) if not a natural person, an entity which has its principal place of business in the State of Delaware, and otherwise meets the
requirements of applicable law, 
 provided that if the Institutional Trustee has its principal place of business in the State of Delaware
and otherwise meets the requirements of applicable law, then the Institutional Trustee shall also be the Delaware Trustee and Section 3.11 shall have no application. 
  

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 Section 5.3 Institutional Trustee; Eligibility. 
 (a) There shall at all times be one Trustee that shall act as Institutional Trustee which shall: 
 (i) not be an Affiliate of the Sponsor; 
 (ii) be a corporation organized and doing business under the laws of the United States of America or any State or Territory thereof or of the District of Columbia, or a corporation or Person permitted by
the Commission to act as an institutional trustee under the Trust Indenture Act, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least 50 million U.S. dollars ($50,000,000), and subject
to supervision or examination by Federal, State, Territorial or District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the supervising or examining authority
referred to above, then for the purposes of this Section 5.3(a)(ii), 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;
and 
 (iii) if the Trust is excluded from the definition of an Investment Company solely by means of Rule 3a-7 and to the
extent Rule 3a-7 requires a trustee having certain qualifications to hold title to the “eligible assets” of the Trust, the Institutional Trustee shall possess those qualifications. 
 (b) If at any time the Institutional Trustee shall cease to be eligible to so act under Section 5.3(a), the Institutional Trustee shall
immediately resign in the manner and with the effect set forth in Section 5.6(c). 
 (c) If the Institutional Trustee has
or shall acquire any “conflicting interest” within the meaning of § 310(b) of the Trust Indenture Act, the Institutional Trustee and the Holders of the Common Securities (as if such Holders were the obligor referred to in §
310(b) of the Trust Indenture Act) shall in all respects comply with the provisions of § 310(b) of the Trust Indenture Act, subject to the penultimate paragraph thereof. 
 (d) The Guarantee Agreement shall be deemed to be specifically described in this Declaration for purposes of clause (i) of the first
proviso contained in § 310(b) of the Trust Indenture Act. 
 (e) The initial Institutional Trustee shall be as set forth in
Section 5.5 hereof. 
 Section 5.4 Qualifications of Administrative Trustees and Delaware Trustee Generally. 
 Each Administrative Trustee and the Delaware Trustee (unless the Institutional Trustee also acts as Delaware Trustee) shall be either a
natural person who is at least 21 years of age or a legal entity that shall act through one or more Authorized Officers. 
  

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 Section 5.5 Initial Trustees; Additional Powers of Administrative Trustees. 
 (a) The initial Administrative Trustees shall be: 
 Christopher Halmy 
 Sean Leary 
 The initial Delaware Trustee shall be: 
 BNY Mellon Trust of Delaware 
 100 White Clay Center 
 Suite 102 
 Newark,
DE 19711 
 Attn: Corporate Trust Department 
 The initial Institutional Trustee shall be: 
 The Bank of New York Mellon

 101 Barclay Street-8W 
 New York, New York 10286 
 (b) Except as expressly set forth in this Declaration
and except if a meeting of the Administrative Trustees is called with respect to any matter over which the Administrative Trustees have power to act, any power of the Administrative Trustees may be exercised by, or with the consent of, any one such
Administrative Trustee. 
 (c) Unless otherwise determined by the Administrative Trustees, and except as otherwise required by
the Statutory Trust Act or applicable law, any Administrative Trustee is authorized to execute on behalf of the Trust any documents which the Administrative Trustees have the power and authority to cause the Trust to execute pursuant to
Section 3.6, provided that any registration statement referred to in Section 3.6(b)(i), including any amendments thereto, shall be signed by all of the Administrative Trustees; and 
 (d) a Administrative Trustee may, by power of attorney consistent with applicable law, delegate to any other natural person over the age of
21 his or her power for the purposes of signing any documents which the Administrative Trustees have power and authority to cause the Trust to execute pursuant to Section 3.6. 
 Section 5.6 Appointment, Removal and Resignation of Trustees. 
 (a) Subject
to Section 5.6(b), Trustees may be appointed or removed without cause at any time: 
 (i) until the issuance of any
Securities, by written instrument executed by the Sponsor; and 
 (ii) in the case of the Administrative Trustees, after the
issuance of any Securities, by vote of the Holders of a Majority in liquidation amount of the Common Securities voting as a class by written consent or at a meeting of the Holders of the Common Securities; 
 (iii) in the case of the Institutional Trustee and the Delaware Trustee, unless a Default shall have occurred and be continuing after the
issuance of any Securities, by a vote of

  

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the Holders of a Majority in liquidation amount of the Common Securities voting as a class by written consent or at a meeting of the Holders of the Common Securities; and 
 (iv) in the case of the Institutional Trustee and the Delaware Trustee, if a Default shall have occurred and be continuing after the
issuance of the Securities, by a vote of the Holders of a Majority in liquidation amount of the Trust Preferred Securities voting as a class by written consent or at a meeting of the Holders of the Trust Preferred Securities. 
 (b) (i) The Trustee that acts as Institutional Trustee shall not be removed in accordance with Section 5.6(a) until a successor Trustee
possessing the qualifications to act as Institutional Trustee under Section 5.3 (a “Successor Institutional Trustee”) has been appointed and has accepted such appointment by written instrument executed by such Successor
Institutional Trustee and delivered to the Administrative Trustees and the Sponsor; and 
 (ii) the Trustee that acts as
Delaware Trustee shall not be removed in accordance with Section 5.6(a) until a successor Trustee possessing the qualifications to act as Delaware Trustee under Sections 5.2 and 5.4 (a “Successor Delaware Trustee”) has been
appointed and has accepted such appointment by written instrument executed by such Successor Delaware Trustee and delivered to the Administrative Trustees and the Sponsor. 
 (c) A Trustee appointed to office shall hold office until his successor shall have been appointed or until his death, removal or
resignation. Any Trustee may resign from office (without need for prior or subsequent accounting) by an instrument in writing signed by the Trustee and delivered to the Sponsor and the Trust, which resignation shall take effect upon such delivery or
upon such later date as is specified therein; provided, however, that: 
 (i) No such resignation of the Trustee
that acts as the Institutional Trustee shall be effective: 
 (A) until a Successor Institutional Trustee has
been appointed and has accepted such appointment by instrument executed by such Successor Institutional Trustee and delivered to the Trust, the Sponsor and the resigning Institutional Trustee; or 
 (B) until the assets of the Trust have been completely liquidated and the proceeds thereof distributed to the holders of the
Securities; and 
 (ii) no such resignation of the Trustee that acts as the Delaware Trustee shall be effective until a
Successor Delaware Trustee has been appointed and has accepted such appointment by instrument executed by such Successor Delaware Trustee and delivered to the Trust, the Sponsor and the resigning Delaware Trustee. 
 (d) The Holders of the Common Securities shall use their best efforts to promptly appoint a Successor Delaware Trustee or Successor
Institutional Trustee as the case may be if the Institutional Trustee or the Delaware Trustee delivers an instrument of resignation in accordance with this Section 5.6. 
 (e) If no Successor Institutional Trustee or Successor Delaware Trustee shall have been appointed and accepted appointment as provided in
this Section 5.6 within 60 days after

  

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delivery to the Sponsor and the Trust of an instrument of resignation, the resigning Institutional Trustee or Delaware Trustee, as applicable, may petition any court of competent jurisdiction at
the expense of the Sponsor for appointment of a Successor Institutional Trustee or Successor Delaware Trustee. Such court may thereupon, after prescribing such notice, if any, as it may deem proper and prescribe, appoint a Successor Institutional
Trustee or Successor Delaware Trustee, as the case may be. 
 (f) No Institutional Trustee or Delaware Trustee shall be liable
for the acts or omissions to act of any Successor Institutional Trustee or Successor Delaware Trustee, as the case may be. 
 Section 5.7
Vacancies among Trustees. 
 If a Trustee ceases to hold office for any reason and the number of Trustees is not reduced
pursuant to Section 5.1, or if the number of Trustees is increased pursuant to Section 5.1, a vacancy shall occur. A resolution certifying the existence of such vacancy by the Administrative Trustees or, if there are more than two, a
majority of the Administrative Trustees shall be conclusive evidence of the existence of such vacancy. The vacancy shall be filled with a Trustee appointed in accordance with Section 5.6. 
 Section 5.8 Effect of Vacancies. 
 The death, resignation, retirement, removal, bankruptcy, dissolution, liquidation, incompetence or incapacity to perform the duties of a Trustee shall not operate to annul the Trust. Whenever a vacancy in the number of Administrative
Trustees shall occur, until such vacancy is filled by the appointment of a Administrative Trustee in accordance with Section 5.6, the Administrative Trustees in office, regardless of their number, shall have all the powers granted to the
Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Declaration. 
 Section 5.9
Meetings. 
 If there is more than one Administrative Trustee, meetings of the Administrative Trustees shall be held from
time to time upon the call of any Administrative Trustee. Regular meetings of the Administrative Trustees may be held at a time and place fixed by resolution of the Administrative Trustees. Notice of any in-person meetings of the Administrative
Trustees shall be hand delivered or otherwise delivered in writing (including by facsimile, with a hard copy by overnight courier) not less than 48 hours before such meeting. Notice of any telephonic meetings of the Administrative Trustees or any
committee thereof shall be hand delivered or otherwise delivered in writing (including by facsimile, with a hard copy by overnight courier) not less than 24 hours before a meeting. Notices shall contain a brief statement of the time, place and
anticipated purposes of the meeting. The presence (whether in person or by telephone) of a Administrative Trustee at a meeting shall constitute a waiver of notice of such meeting except where a Administrative Trustee attends a meeting for the
express purpose of objecting to the transaction of any activity on the ground that the meeting has not been lawfully called or convened. Unless provided otherwise in this Declaration, any action of the Administrative Trustees may be taken at a
meeting by vote of a majority of the Administrative Trustees present (whether in person or by telephone) and eligible to vote with respect to such matter, provided 

  

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that a Quorum is present, or without a meeting by the unanimous written consent of the Administrative Trustees. In the event there is only one Administrative Trustee, any and all action of such
Administrative Trustee shall be evidenced by a written consent of such Administrative Trustee. 
 Section 5.10 Delegation of Power.

 (a) Any Administrative Trustee may, by power of attorney consistent with applicable law, delegate to any other natural person
over the age of 21 his or her power for the purpose of executing any documents contemplated in Section 3.6, including any registration statement or amendment thereto filed with the Commission, or making any other governmental filing;

 (b) the Administrative Trustees shall have power to delegate from time to time to such of their number or to officers of the
Trust the doing of such things and the execution of such instruments either in the name of the Trust or the names of the Administrative Trustees or otherwise as the Administrative Trustees may deem expedient, to the extent such delegation is not
prohibited by applicable law or contrary to the provisions of the Trust, as set forth herein; and 
 (c) any delegation of power
by a Administrative Trustee under Section 3.6(g) (and Section 3.6(o) insofar as it applies to Section 3.6(g)) or by the Institutional Trustee under Section 3.8(e) shall be to a “United States person” (as defined under
Section 7701(a)(30) of the Code). 
 Section 5.11 Merger, Conversion, Consolidation or Succession to Business. 
 Any corporation into which the Institutional Trustee or the Delaware Trustee, as the case may be, may be merged or converted or with which
either may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Institutional Trustee or the Delaware Trustee, as the case may be, shall be a party, or any corporation succeeding to all or
substantially all the corporate trust business of the Institutional Trustee or the Delaware Trustee, as the case may be, shall be the successor of the Institutional Trustee or the Delaware Trustee, as the case may be, hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. 
 ARTICLE VI 
 DISTRIBUTIONS; EXCHANGES 

Section 6.1 Distributions. 
 Holders shall receive Distributions (as defined herein) in accordance with the applicable terms of the relevant Holder’s Securities. Distributions shall be made on the Trust Preferred Securities and the Common Securities in accordance
with the preferences set forth in their respective terms. If and to the extent that the Debenture Issuer makes a payment of interest (including Compounded Interest (as defined in the Indenture) and Additional Interest (as defined in the Indenture)),
premium and/or principal on the Debentures held by the Institutional Trustee (the amount of any such payment being a “Payment Amount”), the Institutional Trustee shall and is directed to make a distribution (a
“Distribution”) of the Payment Amount to Holders. 
  

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 Section 6.2 Exchanges. 
 (a) If at any time the Sponsor or any of its Affiliates (in any such case, a “Sponsor Affiliated Holder”) is the Holder of any Trust Preferred Securities or is a Trust Preferred Security
Beneficial Owner, such Sponsor Affiliated Holder shall have the right to deliver to the Institutional Trustee all or such portion of its Trust Preferred Securities as it elects and, subject to the terms of the Indenture, receive, in exchange
therefor, Debentures having an aggregate principal amount equal to the aggregate Liquidation Amount of the Trust Preferred Securities exchanged therefor (such an exchange being referred to herein as an “Exchange”). Such election
(i) shall be exercisable, and shall be effective on any Business Day, provided that such Business Day is not a record date or any date falling between a record date and a date on which the related Distribution is payable, by such Sponsor
Affiliated Holder delivering to the Institutional Trustee a written notice of such election specifying the aggregate Liquidation Amount of Trust Preferred Securities with respect to which such election is being made and the date on which such
Exchange shall occur, which date shall be not less than three (3) Business Days after the date of receipt by the Institutional Trustee of such election notice and (ii) shall be conditioned upon such Sponsor Affiliated Holder having
delivered or caused to be delivered to the Institutional Trustee or its designee the Trust Preferred Securities which are the subject of such election by 10:00 a.m. New York City time, on the date on which such Exchange is to occur. After the
Exchange, such Trust Preferred Securities shall be cancelled and shall no longer be deemed to be outstanding and all rights of the Sponsor Affiliated Holder with respect to such Trust Preferred Securities shall cease. So long as the Trust Preferred
Securities are in book-entry-only form, the delivery and the cancellation of the Trust Preferred Securities pursuant to this Section 6.2 shall be made in accordance with the customary procedures of the Clearing Agency for the Trust Preferred
Securities. 
 (b) In the case of an Exchange described in Section 6.2(a), the Trust shall, at the written request of the
Sponsor, on the date of such Exchange, exchange Debentures having a principal amount equal to a proportional amount of the aggregate Liquidation Amount of the outstanding Common Securities, such proportional amount determined by multiplying the
aggregate Liquidation Amount of the outstanding Common Securities by the ratio of the aggregate Liquidation Amount of the Trust Preferred Securities exchanged pursuant to Section 6.2(a) to the aggregate Liquidation Amount of the Trust Preferred
Securities outstanding immediately prior to such Exchange, for such proportional amount of Common Securities held by the Sponsor (which contemporaneously shall be cancelled and no longer be deemed to be outstanding); provided, that the
Sponsor delivers or causes to be delivered to the Institutional Trustee or its designee the required amount of Common Securities to be exchanged by 10:00 a.m., New York City time, on the date on which such Exchange is to occur. 
 ARTICLE VII 
 ISSUANCE OF SECURITIES 
 Section 7.1 General Provisions Regarding Securities. 
 (a) The Administrative Trustees shall on behalf of the Trust issue one class of preferred securities representing undivided beneficial
interests in the assets of the Trust having such terms as are set forth in Annex I (the “Trust Preferred Securities”) and one class of common securities representing undivided beneficial interests in the assets of the Trust having
such terms

  

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as are set forth in Annex I (the “Common Securities”). The Trust shall issue no securities or other interests in the assets of the Trust other than the Trust Preferred Securities and
the Common Securities. 
 (b) The Certificates shall be signed on behalf of the Trust by a Administrative Trustee. Such
signature shall be the manual signature of any present or any future Administrative Trustee. In case any Administrative Trustee of the Trust who shall have signed any of the Securities shall cease to be such Administrative Trustee before the
Certificates so signed shall be delivered by the Trust, such Certificates nevertheless may be delivered as though the person who signed such Certificates had not ceased to be such Administrative Trustee; and any Certificate may be signed on behalf
of the Trust by such persons who, at the actual date of execution of such Security, shall be the Administrative Trustees of the Trust, although at the date of the execution and delivery of the Declaration any such person was not such a
Administrative Trustee. Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by their execution thereof, and may have such letters,
numbers or other marks of identification or designation and such legends or endorsements as the Administrative Trustees may deem appropriate, or as may be required to comply with any law or with any rule or regulation of any stock exchange on which
Securities may be listed, or to conform to usage. 
 (c) Any cash consideration received by the Trust for the issuance of the
Securities shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust. 
 (d) Upon
issuance of the Securities as provided in this Declaration, the Securities so issued shall be deemed to be validly issued, fully paid and non-assessable. 
 (e) Every Person, by virtue of having become a Holder or a Trust Preferred Security Beneficial Owner in accordance with the terms of this Declaration, shall be deemed to have expressly assented and agreed
to the terms of, and shall be bound by, this Declaration. 
 ARTICLE VIII 
 DISSOLUTION; TERMINATION OF TRUST 
 Section 8.1 Dissolution of Trust. 
 (a) The Trust shall dissolve: 
 (i) upon the bankruptcy of any Holder of the Common Securities or the Sponsor; 
 (ii) upon the filing of a certificate of dissolution or its equivalent with respect to the Sponsor or the revocation of the Sponsor’s
charter and the expiration of 90 days after the date of revocation without a reinstatement thereof; 
 (iii) upon the entry of a
decree of judicial dissolution of any Holder of the Common Securities, the Sponsor or the Trust; 
  

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 (iv) Subject to obtaining any required regulatory approval, when all of the Securities have
been called for redemption; 
 (v) Subject to obtaining any required regulatory approval, upon the call for the Exchange of all
of the then-outstanding Trust Preferred Securities pursuant to Section 6.2; 
 (vi) Subject to obtaining any required
regulatory approval, when the Trust shall have been dissolved in accordance with the terms of the Securities upon election by the Sponsor of its right to terminate the Trust and distribute all of the Debentures to the Holders of Securities in
exchange for all of the Securities; 
 (vii) before the issuance of any Securities, with the consent of all of the
Administrative Trustees and the Sponsor; or 
 (viii) upon the expiration of the term of the Trust set forth in
Section 3.14. 
 (b) As soon as is practicable after the occurrence of an event referred to in Section 8.1(a), and
after satisfaction of the claims and obligations of the Trust as required by applicable law, including Section 3808 of the Statutory Trust Act, and subject to the terms set forth in Annex I, the Delaware Trustee, when notified in writing of the
completion of the winding up of the Trust in accordance with the Statutory Trust Act, shall terminate the Trust by filing, at the expense of the Sponsor, a certificate of cancellation with the Secretary of State of the State of Delaware. 

(c) The provisions of Section 3.9, Section 3.10 and Article X shall survive the termination of the Trust. 
 ARTICLE IX 
 TRANSFER OF INTERESTS 
 Section 9.1 Transfer of Securities. 
 (a) Securities may only be transferred, in whole or in part, in accordance with the terms and conditions set forth in this Declaration and in
the terms of the Securities. Any transfer or purported transfer of any Security not made in accordance with this Declaration shall be null and void. 
 (b) Subject to this Article IX, all Certificates or other instruments representing the Trust Preferred Securities will bear a legend substantially to the following effect (the “Private Placement
Legend”): 
 THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT WHILE A REGISTRATION STATEMENT RELATING THERETO IS IN EFFECT UNDER SUCH ACT AND APPLICABLE STATE
SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR SUCH LAWS. EACH PURCHASER OF THE SECURITIES REPRESENTED BY THIS INSTRUMENT IS NOTIFIED THAT THE

  

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SELLER MAY BE RELYING ON THE EXEMPTION FROM SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. ANY TRANSFEREE OF THE SECURITIES REPRESENTED BY THIS INSTRUMENT BY ITS ACCEPTANCE
HEREOF (1) REPRESENTS THAT IT IS (X) A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (Y) AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH
(a) (1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT OFFER, SELL OR OTHERWISE TRANSFER THE SECURITIES REPRESENTED BY THIS INSTRUMENT EXCEPT (A) PURSUANT TO A REGISTRATION STATEMENT WHICH
IS THEN EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS
DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) TO THE DEBENTURE ISSUER
OR (D) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE TRANSFERRED A NOTICE
SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 
 All Certificates or other instruments representing the Trust Preferred Securities
will also bear a legend substantially to the following effect: 
 ANY PURCHASER OR HOLDER OF THIS SECURITY OR ANY INTEREST
THEREIN WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED BY ITS PURCHASE AND HOLDING THEREOF THAT EITHER (I) NO PORTION OF THE ASSETS USED BY IT TO ACQUIRE AND HOLD THE SECURITY CONSTITUTES ASSETS OF ANY “EMPLOYEE BENEFIT PLAN”
SUBJECT TO SECTION 406 OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN, ACCOUNT OR OTHER ARRANGEMENT SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”), OR PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, “SIMILAR LAWS”), OR ANY ENTITY WHOSE UNDERLYING ASSETS ARE
CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH EMPLOYEE BENEFIT PLAN OR OTHER PLAN, ACCOUNT OR ARRANGEMENT OR (II) THE PURCHASE AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF
ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY APPLICABLE SIMILAR LAW. 
 (c) Subject to this Article IX, the
Sponsor and any Related Party may only transfer Common Securities to the Sponsor or a Related Party of the Sponsor; provided that any such transfer is subject to the condition precedent that the transferor obtain the written opinion of
nationally recognized independent counsel experienced in such matters that such transfer would not cause more than an insubstantial risk that: 
 (i) the Trust would not be classified for United States federal income tax purposes as a grantor trust; and 
  

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 (ii) the Trust would be an Investment Company or the transferee would become an Investment
Company. 
 Section 9.2 Transfer of Certificates. 
 (a) The Trust shall cause to be kept at the Corporate Trust Office of the Institutional Trustee a register in which, subject to such reasonable regulations as it may prescribe, the Trust shall provide for
the registration of Trust Preferred Securities and of transfers of Trust Preferred Securities. The Institutional Trustee is hereby appointed “Security Registrar” for the purpose of registering Trust Preferred Securities and transfers of
Trust Preferred Securities as herein provided. The Security Registrar shall provide for the registration of Certificates and of transfers of Certificates, which will be effected without charge but only upon payment (with such indemnity as the
Security Registrar may require) in respect of any tax or other government charges that may be imposed in relation to it. Upon surrender for registration of transfer of any Certificate, the Security Registrar shall cause one or more new Certificates
to be issued in the name of the designated transferee or transferees. Every Certificate surrendered for registration of transfer shall be accompanied by a written instrument of transfer in form satisfactory to the Security Registrar duly executed by
the Holder or such Holder’s attorney duly authorized in writing. Each Certificate surrendered for registration of transfer shall be canceled by the Security Registrar. A transferee of a Certificate shall be entitled to the rights and subject to
the obligations of a Holder hereunder upon the receipt by such transferee of a Certificate. By acceptance of a Certificate, each transferee shall be deemed to have agreed to be bound by this Declaration. 
 (b) In the event that any Trust Preferred Securities (i) become registered under the Securities Act or (ii) are eligible to be
transferred without restriction in accordance with Rule 144 or another exemption from registration under the Securities Act (other than Rule 144A), the Administrative Trustees shall cause to be issued, in accordance with Section 9.2(a) above,
new Certificates or other instruments representing such Trust Preferred Securities, which shall not contain the Private Placement Legend. Securities shall be freely transferable, subject to compliance with this Article IX and the Securities Act.
Subject to the last sentence of this Section 9.2(b), if a Certificate representing a Trust Preferred Security bears a Private Placement Legend, such Trust Preferred Security (x) may be transferred to a Person or Persons who take delivery
thereof in the form of a Certificate bearing a Private Placement Legend only if the Security Registrar receives (A) an appropriately completed certificate of transfer in the form attached hereto as Exhibit D and (B) if applicable, a
certificate substantially in the form attached hereto as Exhibit E (each such certificate, a “Transfer Certification”); and (y) may be transferred to a Person or Persons who take delivery thereof in the form of a
Certificate not bearing a Private Placement Legend or may be exchanged for a Certificate not bearing a Private Placement Legend only if the Security Registrar has previously received an opinion of counsel in form reasonably acceptable to the Sponsor
to the effect that the Trust Preferred Securities are eligible to be transferred without restriction (a “Transfer Opinion”). The Institutional Trustee and the Security Registrar shall have no obligation or duty to monitor, determine
or inquire as to compliance with any restrictions on transfer or exchange imposed under this Declaration or under applicable law with respect to any transfer or exchange of any interest in any Security (including any transfers

  

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between or among Clearing Agency Participants, members or beneficial owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are
expressly required by, and to do so if and when expressly required by, the terms of this Declaration, and to examine the same to determine substantial compliance as to form with the express requirements hereof. At such time as the Debenture Issuer
shall determine, in accordance with applicable law, that the Trust Preferred Securities are no longer required to bear the Private Placement Legend, then: (x) the Sponsor shall deliver to the Institutional Trustee a Transfer Opinion;
(y) the Security Registrar shall cause to be issued, in accordance with Section 9.2(a) above, new Certificates or other instruments representing such Trust Preferred Securities, which shall not contain the Private Placement Legend; and
(z) no Transfer Certification shall be required as a condition to any subsequent transfer of the Trust Preferred Securities. 
 (c) Before registering for transfer or exchange any Trust Preferred Securities, the Securities Registrar may require an Opinion of Counsel or other evidence satisfactory to it (which may include a certificate from such purchaser or Holder)
that either (i) no portion of the assets used by such purchaser or Holder to acquire and hold the Trust Preferred Securities constitutes assets of any “employee benefit plan” subject to Section 406 of the U.S. Employee Retirement
Income Security Act of 1974, as amended (“ERISA”), any plan, account or other arrangement subject to Section 4975 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), or provisions under any
federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code (collectively, “Similar Laws”), or any entity whose underlying assets are considered to include “plan
assets” of any such employee benefit plan or other plan, account or arrangement or (ii) the purchase and holding of the Trust Preferred Securities will not constitute a non-exempt prohibited transaction under Section 406 of ERISA or
section 4975 of the Code or a violation under any applicable similar law. 
 Section 9.3 Deemed Security Holders. 
 The Trustees and the Security Registrar may treat the Person in whose name any Certificate shall be registered on the books and records of
the Trust as the sole holder of such Certificate and of the Securities represented by such Certificate for purposes of receiving Distributions and for all other purposes whatsoever and, accordingly, shall not be bound to recognize any equitable or
other claim to or interest in such Certificate or in the Securities represented by such Certificate on the part of any Person, whether or not the Trust shall have actual or other notice thereof. 
 Section 9.4 Book Entry Interests. 
 The Trust Preferred Securities, on original issuance, will be issued in the form of definitive, fully registered Trust Preferred Security Certificates (the “Definitive Trust Preferred Security Certificates”). The Trust
Preferred Securities may, upon the instruction of the Sponsor, be issued in the form of one or more, fully registered, global Trust Preferred Security Certificates (each a “Global Certificate”), to be delivered to DTC, the initial
Clearing Agency, by, or on behalf of, the Trust. Such Global Certificates shall initially be registered on the books and records of the Trust in the name of Cede & Co., the nominee of DTC, and no Trust Preferred Security Beneficial Owner
will receive a definitive Trust Preferred Security Certificate representing such Trust Preferred Security Beneficial Owner’s interests in such Global Certificates, except as provided in Section 9.7. If the Trust Preferred Securities are
held as

  

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Global Certificates, then unless and until Definitive Trust Preferred Security Certificates shall have been issued to the Trust Preferred Security Beneficial Owners pursuant to Section 9.7:

 (a) the provisions of this Section 9.4 shall be in full force and effect; 
 (b) the Trust and the Trustees shall be entitled to deal with the Clearing Agency for all purposes of this Declaration (including the
payment of Distributions on the Global Certificates and receiving approvals, votes or consents hereunder) as the Holder of the Trust Preferred Securities and the sole holder of the Global Certificates and shall have no obligation to the Trust
Preferred Security Beneficial Owners; 
 (c) to the extent that the provisions of this Section 9.4 conflict with any other
provisions of this Declaration, the provisions of this Section 9.4 shall control; and 
 (d) the rights of the Trust
Preferred Security Beneficial Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Trust Preferred Security Beneficial Owners and the Clearing Agency and/or the
Clearing Agency Participants and the Clearing Agency shall receive and transmit payments of Distributions on the Global Certificates to such Clearing Agency Participants. DTC will make book entry transfers among the Clearing Agency Participants.

 Section 9.5 Notices to Clearing Agency. 
 While the Trust Preferred Securities are in the form of Definitive Trust Preferred Security Certificates, all notices and communications to the Trust Preferred Security Holders shall be made at the
respective addresses of the Holders set forth on the books and records of the Trust. If the Trust Preferred Securities are held as Global Certificates, whenever a notice or other communication to the Trust Preferred Security Holders is required
under this Declaration, the Administrative Trustees shall give all such notices and communications specified herein to be given to the Trust Preferred Security Holders to the Clearing Agency, and shall have no notice obligations to the Trust
Preferred Security Beneficial Owners. 
 Section 9.6 Appointment of Successor Clearing Agency. 
 If any Clearing Agency elects to discontinue its services as a securities depositary with respect to the Trust Preferred Securities, the
Administrative Trustees may, in their sole discretion, appoint a successor Clearing Agency with respect to such Trust Preferred Securities. 
 Section 9.7 Definitive Trust Preferred Security Certificates. 
 If, following the issuance of Global
Certificates: 
 (a) a Clearing Agency elects to discontinue its services as a securities depositary with respect to the Trust
Preferred Securities and a successor Clearing Agency is not appointed within 90 days after such discontinuance pursuant to Section 9.6; or 
 (b) the Administrative Trustees elect after consultation with the Sponsor and subject to the procedures of the Clearing Agency to terminate the book entry system through the Clearing Agency with respect
to the Trust Preferred Securities, 
  

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 then: 
 (c) Definitive Trust Preferred Security Certificates shall be prepared by the Administrative Trustees on behalf of the Trust with respect to such Trust Preferred Securities; and 
 (d) upon surrender of the Global Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees
and the Security Registrar shall cause Definitive Certificates to be delivered to Trust Preferred Security Beneficial Owners in accordance with the instructions of the Clearing Agency. Neither the Trustees nor the Trust nor the Security Registrar
shall be liable for any delay in delivery of such instructions and each of them may conclusively rely on and shall be protected in relying on, said instructions of the Clearing Agency. The Definitive Trust Preferred Security Certificates shall be
printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by their execution thereof, and may have such letters, numbers or other marks of identification or
designation and such legends or endorsements as the Administrative Trustees may deem appropriate, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange
on which Trust Preferred Securities may be listed, or to conform to usage. 
 Section 9.8 Mutilated, Destroyed, Lost or Stolen
Certificates. 
 If: 
 (a) any mutilated Certificates should be surrendered to the Security Registrar, or if the Security Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any
Certificate; and 
 (b) there shall be delivered to the Security Registrar such security or indemnity as may be required by them
to keep each of them harmless, then, in the absence of notice that such Certificate shall have been acquired by a bona fide purchaser, any Administrative Trustee on behalf of the Trust shall execute and deliver, in exchange for or in lieu of any
such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like denomination. In connection with the issuance of any new Certificate under this Section 9.8, the Administrative Trustees and the Security Registrar may require the
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. Any duplicate Certificate issued pursuant to this Section shall constitute conclusive evidence of an ownership interest in the
relevant Securities, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. 
 ARTICLE X 
 LIMITATION OF LIABILITY OF 
 HOLDERS OF SECURITIES, TRUSTEES OR OTHERS 
 Section 10.1
Liability. 
 (a) Except as expressly set forth in this Declaration, the Guarantee Agreement and the terms of the
Securities, the Sponsor shall not be: 
 (i) personally liable for the return of any portion of the capital contributions (or
any return thereon) of the Holders of the Securities which shall be made solely from assets of the Trust; and 
  

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 (ii) required to pay to the Trust or to any Holder of Securities any deficit upon
dissolution of the Trust or otherwise. 
 (b) The Holder of the Common Securities shall be liable for all of the debts and
obligations of the Trust (other than with respect to the Securities) to the extent not satisfied out of the Trust’s assets. 
 (c) Pursuant to § 3803(a) of the Statutory Trust Act, the Holders of the Trust Preferred Securities shall be entitled to the same limitation of personal liability extended to stockholders of private corporations for profit organized
under the General Corporation Law of the State of Delaware. 
 Section 10.2 Exculpation. 
 (a) No Indemnified Person shall be liable, responsible or accountable in damages or otherwise to the Trust or any Covered Person for any
loss, damage or claim incurred by reason of any act or omission performed or omitted by such Indemnified Person in good faith on behalf of the Trust and in a manner such Indemnified Person reasonably believed to be within the scope of the authority
conferred on such Indemnified Person by this Declaration or by law, except that an Indemnified Person shall be liable for any such loss, damage or claim incurred by reason of such Indemnified Person’s gross negligence or willful misconduct with
respect to such acts or omissions. 
 (b) An Indemnified Person shall be fully protected in relying in good faith upon the
records of the Trust and upon such information, opinions, reports or statements presented to the Trust by any Person as to matters the Indemnified Person reasonably believes are within such other Person’s professional or expert competence and
who, if selected by such Person, has been selected with reasonable care by such Person, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, profits, losses, or any other facts pertinent to
the existence and amount of assets from which Distributions to Holders of Securities might properly be paid. 
 Section 10.3 Fiduciary
Duty. 
 (a) To the extent that, at law or in equity, an Indemnified Person has duties (including fiduciary duties) and
liabilities relating thereto to the Trust or to any other Covered Person, an Indemnified Person acting under this Declaration shall not be liable to the Trust or to any other Covered Person for its good faith reliance on the provisions of this
Declaration. The provisions of this Declaration, to the extent that they restrict or eliminate the duties and liabilities of an Indemnified Person otherwise existing at law or in equity (other than the duties imposed on the Institutional Trustee
under the Trust Indenture Act), are agreed by the parties hereto to replace such other duties and liabilities of such Indemnified Person. 
 (b) Unless otherwise expressly provided herein: 
 (i) whenever a conflict of
interest exists or arises between any Covered Persons; or 
  

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 (ii) whenever this Declaration or any other agreement contemplated herein or therein
provides that an Indemnified Person shall act in a manner that is, or provides terms that are, fair and reasonable to the Trust or any Holder of Securities, 
 (iii) the Indemnified Person shall resolve such conflict of interest, take such action or provide such terms, considering in each case the relative interest of each party (including its own interest) to
such conflict, agreement, transaction or situation and the benefits and burdens relating to such interests, any customary or accepted industry practices, and any applicable generally accepted accounting practices or principles. In the absence of bad
faith by the Indemnified Person, the resolution, action or term so made, taken or provided by the Indemnified Person shall not constitute a breach of this Declaration or any other agreement contemplated herein or of any duty or obligation of the
Indemnified Person at law or in equity or otherwise. 
 (c) Whenever in this Declaration an Indemnified Person is permitted or
required to make a decision: 
 (i) in its “discretion” or under a grant of similar authority, the Indemnified Person
shall be entitled to consider such interests and factors as it desires, including its own interests, and shall have no duty or obligation to give any consideration to any interest of or factors affecting the Trust or any other Person; or 

(ii) in its “good faith” or under another express standard, the Indemnified Person shall act under such express standard and
shall not be subject to any other or different standard imposed by this Declaration or by applicable law. 
 Section 10.4
Indemnification. 
 (a) (i) The Debenture Issuer shall indemnify, to the full extent permitted by law, any Company
Indemnified Person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the
Trust) by reason of the fact that he is or was a Company Indemnified Person against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action,
suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Trust, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct
was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the Company Indemnified Person
did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Trust, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his conduct was unlawful.

 (ii) The Debenture Issuer shall indemnify, to the full extent permitted by law, any Company Indemnified Person who was or is
a party or is threatened to be made a party to

  

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any threatened, pending or completed action or suit by or in the right of the Trust to procure a judgment in its favor by reason of the fact that he is or was a Company Indemnified Person against
expenses (including attorneys’ fees) actually and reasonably incurred by him in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the
best interests of the Trust and except that no such indemnification shall be made in respect of any claim, issue or matter as to which such Company Indemnified Person shall have been adjudged to be liable to the Trust unless and only to the extent
that the Court of Chancery of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and
reasonably entitled to indemnity for such expenses which such Court of Chancery or such other court shall deem proper. 
 (iii)
To the extent that a Company Indemnified Person shall be successful on the merits or otherwise (including dismissal of an action without prejudice or the settlement of an action without admission of liability) in defense of any action, suit or
proceeding referred to in paragraphs (i) and (ii) of this Section 10.4(a), or in defense of any claim, issue or matter therein, he shall be indemnified, to the full extent permitted by law, against expenses (including attorneys’
fees) actually and reasonably incurred by him in connection therewith. 
 (iv) Any indemnification under paragraphs (i) and
(ii) of this Section 10.4(a) (unless ordered by a court) shall be made by the Debenture Issuer only as authorized in the specific case upon a determination that indemnification of the Company Indemnified Person is proper in the
circumstances because he has met the applicable standard of conduct set forth in paragraphs (i) and (ii). Such determination shall be made (1) by the Administrative Trustees by a majority vote of a quorum consisting of such Administrative
Trustees who were not parties to such action, suit or proceeding, (2) if such a quorum is not obtainable, or, even if obtainable, if a quorum of disinterested Administrative Trustees so directs, by independent legal counsel in a written
opinion, or (3) by the Common Security Holder of the Trust. 
 (v) Expenses (including attorneys’ fees) incurred by a
Company Indemnified Person in defending a civil, criminal, administrative or investigative action, suit or proceeding referred to in paragraphs (i) and (ii) of this Section 10.4(a) shall be paid by the Debenture Issuer in advance of
the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such Company Indemnified Person to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the
Debenture Issuer as authorized in this Section 10.4(a). Notwithstanding the foregoing, no advance shall be made by the Debenture Issuer if a determination is reasonably and promptly made (i) by the Administrative Trustees by a majority
vote of a quorum of disinterested Administrative Trustees, (ii) if such a quorum is not obtainable, or, even if obtainable, if a quorum of disinterested Administrative Trustees so directs, by independent legal counsel in a written opinion or
(iii) the Common Security Holder of the Trust, that, based upon the facts known to the Administrative Trustees, counsel or the Common Security Holder at the time such determination is made, such Company Indemnified Person acted in bad faith or
in a manner that such person did not believe to be in or not opposed to the best interests of the Trust, or, with respect to any criminal proceeding, that such Company Indemnified Person believed or had reasonable cause to believe his conduct was
unlawful. In no event shall any advance be made in instances where the

  

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Administrative Trustees, independent legal counsel or Common Security Holder reasonably determine that such person deliberately breached his duty to the Trust or its Common or Trust Preferred
Security Holders. 
 (vi) The indemnification and advancement of expenses provided by, or granted pursuant to, the other
paragraphs of this Section 10.4(a) shall not be deemed exclusive of any other rights to which those seeking indemnification and advancement of expenses may be entitled under any agreement, vote of stockholders or disinterested directors of the
Debenture Issuer or Trust Preferred Security Holders of the Trust or otherwise, both as to action in his official capacity and as to action in another capacity while holding such office. All rights to indemnification under this Section 10.4(a)
shall be deemed to be provided by a contract between the Debenture Issuer and each Company Indemnified Person who serves in such capacity at any time while this Section 10.4(a) is in effect. Any repeal or modification of this
Section 10.4(a) shall not affect any rights or obligations then existing. 
 (vii) The Debenture Issuer may purchase and
maintain insurance on behalf of any person who is or was a Company Indemnified Person against any liability asserted against him and incurred by him in any such capacity, or arising out of his status as such, whether or not the Debenture Issuer
would have the power to indemnify him against such liability under the provisions of this Section 10.4(a). 
 (viii) For
purposes of this Section 10.4(a), references to “the Trust” shall include, in addition to the resulting or surviving entity, any constituent entity (including any constituent of a constituent) absorbed in a consolidation or merger, so
that any person who is or was a director, trustee, officer or employee of such constituent entity, or is or was serving at the request of such constituent entity as a director, trustee, officer, employee or agent of another entity, shall stand in
the same position under the provisions of this Section 10.4(a) with respect to the resulting or surviving entity as he would have with respect to such constituent entity if its separate existence had continued. 
 (ix) The indemnification and advancement of expenses provided by, or granted pursuant to, this Section 10.4(a) shall, unless otherwise
provided when authorized or ratified, continue as to a person who has ceased to be a Company Indemnified Person and shall inure to the benefit of the heirs, executors and administrators of such a person. 
 (b) The Debenture Issuer agrees to indemnify the (i) Institutional Trustee, (ii) the Delaware Trustee, (iii) any Affiliate of
the Institutional Trustee and the Delaware Trustee, and (iv) any officers, directors, shareholders, members, partners, employees, representatives, custodians, nominees or agents of the Institutional Trustee and the Delaware Trustee (each of the
Persons in (i) through (iv) being referred to as a “Fiduciary Indemnified Person”) for, and to hold each Fiduciary Indemnified Person harmless against, any and all loss, liability, claim, damage or expense incurred without
negligence, bad faith or willful misconduct on its part, arising out of or in connection with the acceptance or administration or the trust or trusts hereunder, including the costs and expenses (including reasonable legal fees and expenses) of
defending itself against or investigating any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. The obligation to indemnify as set forth in this Section 10.4(b) shall survive the
resignation or removal of the Institutional Trustee or the Delaware Trustee, as the case may be, and the termination of this Declaration. The Debenture Issuer agrees to pay the

  

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Institutional Trustee and the Delaware Trustee from time to time such compensation for all services rendered by the Institutional Trustee and the Delaware Trustee hereunder as may be mutually
agreed upon in writing by the Debenture Issuer and the Institutional Trustee or the Delaware Trustee, as the case may be, and, except as otherwise expressly provided therein or herein, to reimburse the Institutional Trustee and the Delaware Trustee
upon its or their request for all reasonable expenses (including reasonable counsel fees and expenses), disbursements and advances incurred or made by the Institutional Trustee or the Delaware Trustee, as the case may be, in accordance with the
provisions of this Declaration, except any such expense, disbursement or advance as may be attributable to its or their negligence, bad faith or willful misconduct. The provisions of this sentence shall survive the resignation or removal of the
Delaware Trustee or the Institutional Trustee or the termination of this Declaration. 
 Section 10.5 Outside Businesses. 
 Any Covered Person, the Sponsor, the Delaware Trustee and the Institutional Trustee may engage in or possess an interest in other business
ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Trust, and the Trust and the Holders of Securities shall have no rights by virtue of this Declaration in and to such independent
ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Trust, shall not be deemed wrongful or improper. No Covered Person, the Sponsor, the Delaware Trustee, or the
Institutional Trustee shall be obligated to present any particular investment or other opportunity to the Trust even if such opportunity is of a character that, if presented to the Trust, could be taken by the Trust, and any Covered Person, the
Sponsor, the Delaware Trustee and the Institutional Trustee shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment or other opportunity. Any Covered
Person, the Delaware Trustee and the Institutional Trustee may engage or be interested in any financial or other transaction with the Sponsor or any Affiliate of the Sponsor, or may act as depositary for, trustee or agent for, or act on any
committee or body of holders of, securities or other obligations of the Sponsor or its Affiliates. 
 ARTICLE XI

 ACCOUNTING 
 Section 11.1 Fiscal Year. 
 The fiscal year (“Fiscal Year”) of the Trust shall be the calendar
year, or such other year as is required by the Code. 
 Section 11.2 Certain Accounting Matters. 
 (a) At all times during the existence of the Trust, the Administrative Trustees shall keep, or cause to be kept, full books of account,
records and supporting documents, which shall reflect in reasonable detail, each transaction of the Trust. The books of account shall be maintained on the accrual method of accounting, in accordance with generally accepted accounting principles,
consistently applied. The Trust shall use the accrual method of accounting for United States federal income tax purposes. The books of account and the records of the Trust shall be examined by and reported upon as of the end of each Fiscal Year of
the Trust by a firm of independent certified public accountants selected by the Administrative Trustees. 
  

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 (b) The Administrative Trustees shall cause to be prepared and delivered to each of the
Holders of Securities, to the extent, if any, required by the Trust Indenture Act, within 90 days after the end of each Fiscal Year of the Trust, annual financial statements of the Trust, including a balance sheet of the Trust as of the end of such
Fiscal Year, and the related statements of income or loss; 
 (c) The Administrative Trustees shall cause to be duly prepared
and delivered to each of the Holders of Securities, any annual United States federal income tax information statement required by the Code, containing such information with regard to the Securities held by each Holder as is required by the Code and
the Treasury Regulations. Notwithstanding any right under the Code to deliver any such statement at a later date, the Administrative Trustees shall endeavor to deliver all such statements within 30 days after the end of each Fiscal Year of the
Trust. 
 (d) The Administrative Trustees shall cause to be duly prepared and filed with the appropriate taxing authority, an
annual United States federal income tax return, on a Form 1041 or such other form required by United States federal income tax law, and any other annual income tax returns required to be filed by the Administrative Trustees on behalf of the Trust
with any state or local taxing authority. 
 Section 11.3 Banking. 
 The Trust shall maintain one or more bank accounts in the name and for the sole benefit of the Trust; provided, however, that
all payments of funds in respect of the Debentures held by the Institutional Trustee shall be made directly to the Institutional Trustee Account and no other funds of the Trust shall be deposited in the Institutional Trustee Account. The sole
signatories for such accounts shall be designated by the Administrative Trustees; provided, however, that the Institutional Trustee shall designate the signatories for the Institutional Trustee Account. 
 Section 11.4 Withholding. 
 The Trust and the Administrative Trustees shall comply with all withholding requirements under United States federal, state and local law. The Trust shall request, and the Holders shall provide to the Trust, such forms or certificates as
are necessary to establish an exemption from withholding with respect to each Holder, and any representations and forms as shall reasonably be requested by the Trust to assist it in determining the extent of, and in fulfilling, its withholding
obligations. The Administrative Trustees shall file required forms with applicable jurisdictions and, unless an exemption from withholding is properly established by a Holder, shall remit amounts withheld with respect to the Holder to applicable
jurisdictions. To the extent that the Trust is required to withhold and pay over any amounts to any authority with respect to distributions or allocations to any Holder, the amount withheld shall be deemed to be a distribution in the amount of the
withholding to the Holder. In the event of any claimed overwithholding, Holders shall be limited to an action against the applicable jurisdiction. If the amount required to be withheld was not withheld from actual Distributions made, the Trust may
reduce subsequent Distributions by the amount of such withholding. 
  

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 ARTICLE XII 
 AMENDMENTS AND MEETINGS 
 Section 12.1 Amendments. 

(a) Except as otherwise provided in this Declaration or by any applicable terms of the Securities, this Declaration may only be amended by
a written instrument approved and executed by: 
 (i) the Administrative Trustees (or, if there are more than two Administrative
Trustees a majority of the Administrative Trustees); 
 (ii) if the amendment affects the rights, powers, duties, obligations or
immunities of the Institutional Trustee, the Institutional Trustee; and 
 (iii) if the amendment affects the rights, powers,
duties, obligations or immunities of the Delaware Trustee, the Delaware Trustee; 
 (b) no amendment shall be made, and any such
purported amendment shall be void and ineffective: 
 (i) unless, in the case of any proposed amendment, the Institutional
Trustee shall have first received an Officers’ Certificate from each of the Trust and the Sponsor that such amendment is permitted by, and conforms to, the terms of this Declaration (including the terms of the Securities); 
 (ii) unless, in the case of any proposed amendment which affects the rights, powers, duties, obligations or immunities of the Institutional
Trustee, the Institutional Trustee shall have first received: 
 (A) an Officers’ Certificate from each of
the Trust and the Sponsor that such amendment is permitted by, and conforms to, the terms of this Declaration (including the terms of the Securities); and 
 (B) an opinion of counsel (who may be counsel to the Sponsor or the Trust) that such amendment is permitted by, and conforms to, the terms of this Declaration (including the terms of the Securities); and

 (iii) to the extent the result of such amendment would be to: 
 (A) cause the Trust to fail to continue to be classified for purposes of United States federal income taxation as a grantor
trust; 
 (B) reduce or otherwise adversely affect the powers of the Institutional Trustee in contravention of
the Trust Indenture Act; or 
 (C) cause the Trust to be deemed to be an Investment Company required to be
registered under the Investment Company Act; 
  

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 (c) at such time after the Trust has issued any Securities that remain outstanding, any
amendment that would adversely affect the rights, privileges or preferences of any Holder of Securities may be effected only with such additional requirements as may be set forth in the terms of such Securities; 
 (d) Section 9.1(c) and this Section 12.1 shall not be amended without the consent of all of the Holders of the Securities;

 (e) Article IV shall not be amended without the consent of the Holders of a Majority in liquidation amount of the Common
Securities; and; 
 (f) the rights of the Holders of the Common Securities under Article V to increase or decrease the number
of, and appoint and remove Trustees shall not be amended without the consent of the Holders of a Majority in liquidation amount of the Common Securities; and 
 (g) subject to Section 12.1(c), this Declaration may be amended without the consent of the Holders of the Securities to: 
 (i) cure any ambiguity or manifest error; 
 (ii) correct or supplement any
provision in this Declaration that may be defective or inconsistent with any other provision of this Declaration; 
 (iii) add
to the covenants, restrictions or obligations of the Sponsor; 
 (iv) to conform to any change in Rule 3a-7 or written change in
interpretation or application of Rule 3a-7 by any legislative body, court, government agency or regulatory authority which amendment does not have a material adverse effect on the right, preferences or privileges of the Holders; and 
 (v) to modify, eliminate and add to any provision of the Declaration to such extent as may be reasonably necessary to effectuate any of the
foregoing or to otherwise comply with applicable law. 
 Section 12.2 Meetings of the Holders of Securities; Action by Written Consent.

 (a) Meetings of the Holders of any class of Securities may be called at any time by the Administrative Trustees (or as
provided in the terms of the Securities) to consider and act on any matter on which Holders of such class of Securities are entitled to act under the terms of this Declaration, the terms of the Securities or the rules of any stock exchange on which
the Trust Preferred Securities are listed or admitted for trading. The Administrative Trustees shall call a meeting of the Holders of such class if directed to do so by the Holders of Securities representing at least 10% in liquidation amount of
such class of Securities. Such direction shall be given by delivering to the Administrative Trustees one or more calls in a writing stating that the signing Holders of Securities wish to call a meeting and indicating the general or specific purpose
for which the meeting is to be called. Any Holders of Securities calling a meeting shall specify in writing the Security Certificates held by the Holders of Securities exercising the right to call a meeting and only those Securities specified shall
be counted for purposes of determining whether the required percentage set forth in the second sentence of this paragraph has been met. 
  

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 (b) Except to the extent otherwise provided in the terms of the Securities, the following
provisions shall apply to meetings of Holders of Securities: 
 (i) notice of any such meeting shall be given to all the Holders
of Securities having a right to vote thereat at least 7 days and not more than 60 days before the date of such meeting. Whenever a vote, consent or approval of the Holders of Securities is permitted or required under this Declaration or the rules of
any stock exchange on which the Trust Preferred Securities are listed or admitted for trading, such vote, consent or approval may be given at a meeting of the Holders of Securities. Any action that may be taken at a meeting of the Holders of
Securities may be taken without a meeting if a consent in writing setting forth the action so taken is signed by the Holders of Securities owning not less than the minimum amount of Securities in liquidation amount that would be necessary to
authorize or take such action at a meeting at which all Holders of Securities having a right to vote thereon were present and voting. Prompt notice of the taking of action without a meeting shall be given to the Holders of Securities entitled to
vote who have not consented in writing. The Administrative Trustees may specify that any written ballot submitted to the Security Holder for the purpose of taking any action without a meeting shall be returned to the Trust within the time specified
by the Administrative Trustees; 
 (ii) each Holder of a Security may authorize any Person to act for it by proxy on all matters
in which a Holder of Securities is entitled to participate, including waiving notice of any meeting, or voting or participating at a meeting. No proxy shall be valid after the expiration of 11 months from the date thereof unless otherwise provided
in the proxy. Every proxy shall be revocable at the pleasure of the Holder of Securities executing it. Except as otherwise provided herein, all matters relating to the giving, voting or validity of proxies shall be governed by the General
Corporation Law of the State of Delaware relating to proxies, and judicial interpretations thereunder, as if the Trust were a Delaware corporation and the Holders of the Securities were stockholders of a Delaware corporation; 
 (iii) each meeting of the Holders of the Securities shall be conducted by the Administrative Trustees or by such other Person that the
Administrative Trustees may designate; and 
 (iv) unless the Statutory Trust Act, this Declaration, the terms of the
Securities, the Trust Indenture Act or the listing rules of any stock exchange on which the Trust Preferred Securities are then listed or trading, otherwise provides, the Administrative Trustees, in their sole discretion, shall establish all other
provisions relating to meetings of Holders of Securities, including notice of the time, place or purpose of any meeting at which any matter is to be voted on by any Holders of Securities, waiver of any such notice, action by consent without a
meeting, the establishment of a record date, quorum requirements, voting in person or by proxy or any other matter with respect to the exercise of any such right to vote. 
  

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 ARTICLE XIII 
 REPRESENTATIONS OF INSTITUTIONAL TRUSTEE 
 AND
DELAWARE TRUSTEE 
 Section 13.1 Representations and Warranties of Institutional Trustee. 
 The Trustee that acts as initial Institutional Trustee represents and warrants to the Trust and to the Sponsor at the date of this
Declaration, and each Successor Institutional Trustee represents and warrants to the Trust and the Sponsor at the time of the Successor Institutional Trustee’s acceptance of its appointment as Institutional Trustee that: 
 (a) the Institutional Trustee is a banking corporation or association with trust powers, duly organized, validly existing and in good
standing under the laws of its jurisdiction of incorporation or formation, with trust power and authority to execute and deliver, and to carry out and perform its obligations under the terms of, this Declaration; 
 (b) the execution, delivery and performance by the Institutional Trustee of the Declaration has been duly authorized by all necessary
corporate action on the part of the Institutional Trustee. The Declaration has been duly executed and delivered by the Institutional Trustee, and it constitutes a legal, valid and binding obligation of the Institutional Trustee, enforceable against
it in accordance with its terms, subject to applicable bankruptcy, reorganization, moratorium, insolvency, and other similar laws affecting creditors’ rights generally and to general principles of equity and the discretion of the court
(regardless of whether the enforcement of such remedies is considered in a proceeding in equity or at law); 
 (c) the
execution, delivery and performance of the Declaration by the Institutional Trustee does not conflict with or constitute a breach of the Articles of Organization or By-laws of the Institutional Trustee; and 
 (d) no consent, approval or authorization of, or registration with or notice to, any State or Federal banking authority is required for the
execution, delivery or performance by the Institutional Trustee, of the Declaration. 
 Section 13.2 Representations and Warranties of
Delaware Trustee. 
 The Trustee that acts as initial Delaware Trustee represents and warrants to the Trust and to the
Sponsor at the date of this Declaration, and each Successor Delaware Trustee represents and warrants to the Trust and the Sponsor at the time of the Successor Delaware Trustee’s acceptance of its appointment as Delaware Trustee that:

 (a) The Delaware Trustee is a banking corporation or association with trust powers, duly organized, validly existing and in
good standing under the laws of its jurisdiction of incorporation or formation, with trust power and authority to execute and deliver, and to carry out and perform its obligations under the terms of, the Declaration. 
 (b) The Delaware Trustee has been authorized to perform its obligations under the Certificate of Trust and the Declaration. The Declaration
under Delaware law constitutes a legal, valid and binding obligation of the Delaware Trustee, enforceable against it in accordance with

  

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its terms, subject to applicable bankruptcy, reorganization, moratorium, insolvency, and other similar laws affecting creditors’ rights generally and to general principles of equity and the
discretion of the court (regardless of whether the enforcement of such remedies is considered in a proceeding in equity or at law). 
 (c) No consent, approval or authorization of, or registration with or notice to, any State or Federal banking authority is required for the execution, delivery or performance by the Delaware Trustee, of the Declaration. 
 (d) The Delaware Trustee is an entity which maintains its principal place of business in the State of Delaware. 
 ARTICLE XIV 
 MISCELLANEOUS 
 Section 14.1 Notices. 
 Any notice, request, instruction or other document to be given hereunder by any party to the other will be in writing and will be deemed to have been duly given (a) on the date of delivery if
delivered personally, or by facsimile, upon confirmation of receipt, or (b) on the second business day following the date of dispatch if delivered by a recognized next day courier service. All notices shall be delivered, telecopied or sent by a
recognized next day courier service, as set forth below, or pursuant to such other instructions as may be designated by the Trust, the Trustees or the Holders: 
 (a) if given to the Trust, in care of the Administrative Trustees at the Trust’s mailing address set forth below (or such other address as the Trust may give notice of to the Holders of the
Securities and the Institutional Trustee): 
 GMAC Capital Trust I 
 c/o GMAC Inc. 
 200
Renaissance Center 
 P.O. Box 
 Detroit, Michigan 48265-2000 
 Attention: General Counsel 
 (b) if given to the Delaware Trustee, at the mailing address set forth below (or such other address as Delaware Trustee may give notice of
to the Holders of the Securities): 
 BNY Mellon Trust of Delaware 
 100 White Clay Center 
 Suite 102 
 Newark, DE 19711 
 Attention: Corporate Trust Department 
 (c) if given to the Institutional Trustee,
at the mailing address set forth below (or such other address as the Institutional Trustee may give notice of to the Holders of the Securities and the Sponsor): 
 The Bank of New York Mellon 
 101 Barclay Street-8W 
 New York, New York 10286 
 Attention: Corporate Trust Administration 
  

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 (d) if given to the Holder of the Common Securities, at the mailing address of the Sponsor
set forth below (or such other address as the Holder of the Common Securities may give notice of to the Trust and the Institutional Trustee): 
 GMAC Inc. 
 200 Renaissance Center 
 P.O. Box 
 Detroit,
Michigan 48265-2000 
 Attention: General Counsel 
 (e) if given to any other Holder, at the address set forth on the books and records of the Trust. 
 Section 14.2 Governing Law; Waiver of Trial by Jury. 
 THIS DECLARATION SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO CONTRACTS MADE AND TO BE PREFORMED ENTIRELY WITHIN SUCH STATE. EACH OF THE PARTIES HERETO AGREES (A) TO SUBMIT TO THE NON-EXCLUSIVE JURISDICTION AND VENUE OF THE
UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND THE UNITED STATES COURT OF FEDERAL CLAIMS FOR ANY AND ALL CIVIL ACTIONS, SUITS OR PROCEEDINGS ARISING OUT OF OR RELATING OF THIS DECLARATION OR THE TRANSACTIONS CONTEMPLATED
HEREBY OR THEREBY, AND (B) TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW THAT NOTICE MAY BE SERVED UPON THE TRUST, THE TRUSTEES AND THE HOLDERS AT THE ADDRESSES AND IN THE MANNER SET FORTH IN SECTION 14.1 AND, IF APPLICABLE, TO CERTAIN
HOLDERS IN ACCORDANCE WITH FEDERAL LAW. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO HEREBY UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY CIVIL LEGAL ACTION OR PROCEEDING RELATING TO THIS INDENTURE OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY. 
 Section 14.3 Intention of the Parties. 
 It is the intention of the parties hereto that the Trust be classified for United States federal income tax purposes as a grantor trust. The
provisions of this Declaration shall be interpreted to further this intention of the parties. 
 Section 14.4 Headings. 
 Headings contained in this Declaration are inserted for convenience of reference only and do not affect the interpretation of this
Declaration or any provision hereof. 
  

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 Section 14.5 Successors and Assigns. 
 Whenever in this Declaration any of the parties hereto is named or referred to, the successors and assigns of such party shall be deemed to
be included, and all covenants and agreements in this Declaration by the Sponsor and the Trustees shall bind and inure to the benefit of their respective successors and assigns, whether so expressed. 
 Section 14.6 Partial Enforceability. 
 If any provision of this Declaration, or the application of such provision to any Person or circumstance, shall be held invalid, the remainder of this Declaration, or the application of such provision to
Persons or circumstances other than those to which it is held invalid, shall not be affected thereby. 
 Section 14.7 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. Delivery of an executed signature page of this Indenture by facsimile or electronic (including PDF) transmission shall be effective as delivery of a manually
executed counterpart thereof. 
  

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 IN WITNESS WHEREOF, the undersigned have caused these presents to be executed as of the day
and year first above written. 
  

			
	 /s/ Christopher Halmy

	Name:	 	Christopher Halmy
	Title:	 	Administrative Trustee

  

			
	 /s/ Sean Leary

	Name:	 	Sean Leary
	Title:	 	Administrative Trustee

  

			
	BNY MELLON TRUST OF DELAWARE, as Delaware Trustee
		
	By:	 	 /s/ Kristine K. Gullo

	Name:	 	Kristine K. Gullo
	Title:	 	Vice President

  

			
	THE BANK OF NEW YORK MELLON, as Institutional Trustee
		
	By:	 	 /s/ Geovanni Barris

	Name:	 	Geovanni Barris
	Title:	 	Vice President

  

			
	GMAC INC., as Sponsor
		
	By:	 	 /s/ Cathy L. Quenneville

	Name:	 	Cathy L. Quenneville
	Title:	 	Secretary

 ANNEX I 
 TERMS OF 
 8.0% TRUST PREFERRED SECURITIES 
 8.0% COMMON SECURITIES 
 Pursuant to Section 7.1 of the Amended and Restated Declaration of Trust, dated as of December 30, 2009 (as amended from time to time, the “Declaration”), the designation,
rights, privileges, restrictions, preferences and other terms and provisions of the Trust Preferred Securities and the Common Securities are set out below (each capitalized term used but not defined herein has the meaning set forth in the
Declaration): 
  

	1.	Designation and Number. 

 (a) Trust Preferred Securities. 2,667,000 Trust Preferred Securities of the Trust with an aggregate liquidation amount with respect to the assets of the Trust of TWO BILLION SIX HUNDRED SIXTY SEVEN MILLION DOLLARS ($2,667,000,000),
and a liquidation amount with respect to the assets of the Trust of $1,000 per security, are hereby designated for the purposes of identification only as “8.0% Trust Preferred Securities” (the “Trust Preferred
Securities”). The Trust Preferred Security Certificates evidencing the Trust Preferred Securities shall be substantially in the form of Exhibit A-1 to the Declaration, with such changes and additions thereto or deletions therefrom as may be
required by ordinary usage, custom or practice or to conform to the rules of any stock exchange on which the Trust Preferred Securities are listed. 
 (b) Common Securities. Eighty thousand ten (80,010) Common Securities of the Trust with an aggregate liquidation amount with respect to the assets of the Trust of EIGHTY MILLION TEN THOUSAND
DOLLARS ($80,010,000), and a liquidation amount with respect to the assets of the Trust of $1,000 per common security, are hereby designated for the purposes of identification only as “8.0% Common Securities” (the “Common
Securities”). The Common Security Certificates evidencing the Common Securities shall be substantially in the form of Exhibit A-2 to the Declaration, with such changes and additions thereto or deletions therefrom as may be required by
ordinary usage, custom or practice. 
  

	2.	Distributions. 

 (a)
Distributions payable on each Security will be fixed at a rate per annum of 8.0% (the “Coupon Rate”) of the stated liquidation amount per Security, such rate being the rate of interest payable on the Debentures to be held by the
Institutional Trustee. Distributions in arrears beyond the first date such Distributions are payable (or would be payable, if not for any Extension Period (as defined below) or default by the Debenture Issuer on the Debentures) will accumulate at
the rate of interest payable on the Debentures, compounded quarterly (to the extent permitted by applicable law). The term “Distributions” as used herein includes such cash distributions and any such interest payable unless
otherwise stated. A Distribution is payable only to the extent that payments are made in respect of the Debentures held by the Institutional Trustee and to the extent the Institutional Trustee has funds available therefor. The amount of
Distributions payable for any period will be computed for any full quarterly Distribution period on the basis of a 360-day year of twelve 30-day months, and for any period shorter than a full

  

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quarterly Distribution period for which Distributions are computed, Distributions will be computed on the basis of the actual number of days elapsed in a partial month in such period. 

(b) Distributions on the Securities will be cumulative, will accrue from and including December 30, 2009, and will be payable
quarterly in arrears, on February 15, May 15, August 15 and November 15 of each year, commencing on February 15, 2010. When, as and if available for payment, Distributions will be made by the Institutional Trustee,
except as otherwise described below. The Debenture Issuer has the right under the Indenture to defer payments of interest on the Debentures by extending the interest payment period from time to time on the Debentures for a period not exceeding 20
consecutive quarters (each an “Extension Period”), during which Extension Period no interest shall be due and payable on the Debentures, provided, that no Extension Period may extend beyond the date of maturity of the
Debentures. As a consequence of the Debenture Issuer’s extension of the interest payment period, quarterly Distributions will also be deferred. Despite such deferral, quarterly Distributions will continue to accumulate to the extent and in the
amount that interest accrues and compounds on the underlying Debentures. In the event that the Debenture Issuer exercises its right to extend the interest payment period, then (a) the Debenture Issuer and any subsidiary of the Debenture Issuer
(other than a subsidiary that is a depository institution or a subsidiary thereof) will not declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of
the Debenture Issuer’s capital stock or make any guarantee payment with respect thereto (other than (i) redemptions, purchases or other acquisitions of shares of capital stock of the Debenture Issuer in connection with the administration
of any employee benefit plan in the ordinary course of business and consistent with past practice, (ii) the acquisition by the Debenture Issuer or any of its subsidiaries of record ownership in capital stock of the Debenture Issuer for the
beneficial ownership of any other persons (other than the Debenture Issuer or any of its subsidiaries), including trustees or custodians, (iii) as a result of an exchange or conversion of any class or series of the Debenture Issuer’s
capital stock for any other class or series of the Debenture Issuer’s capital stock, in each case, solely to the extent required pursuant to binding contractual agreements entered into prior to or on the Closing Date or any subsequent agreement
for the accelerated exercise, settlement or exchange thereof for capital stock of the Debenture Issuer, (iv) distributions by any wholly-owned subsidiary of the Debenture Issuer, (v) redemptions of securities held by the Debenture Issuer
or any wholly-owned subsidiary of the Debenture Issuer, and (vi) unpaid tax distributions to holders of membership interests of GMAC LLC pursuant to Section 4(b) of GMAC LLC’s Plan of Conversion, dated June 30, 2009), and
(b) the Debenture Issuer and any subsidiary of the Debenture Issuer (other than a subsidiary that is a depository institution, or a subsidiary thereof) shall not make any payment of interest on or principal of (or premium, if any, on), or
repay, repurchase or redeem, any debt securities or guarantees issued by the Debenture Issuer which rank pari passu with or junior to the Securities (“Junior Subordinated Indebtedness”) (other than (i) redemptions,
purchases or other acquisitions of Junior Subordinated Indebtedness in connection with the administration of any employee benefit plan in the ordinary course of business and consistent with past practice, (ii) the acquisition by the Debenture
Issuer or any of its subsidiaries of record ownership in Junior Subordinated Indebtedness for the beneficial ownership of any other persons (other than the Debenture Issuer or any of its subsidiaries), including trustees or custodians, (iii) as
a result of an exchange or conversion of any class or series of Junior Subordinated Indebtedness for any other class or series of Junior Subordinated Indebtedness, (iv) redemptions of securities held by the Debenture Issuer or any wholly-owned

  

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subsidiary of the Debenture Issuer and (v) any payment of interest on Junior Subordinated Indebtedness paid pro rata with interest paid on the Debentures such that the respective
amounts of such payments made shall bear the same ratio to each other as all accrued but unpaid interest per like-amount of Debentures and all Junior Subordinated Indebtedness bear to each other). The foregoing restrictions, however, will not apply
to (i) any stock dividends paid by the Debenture Issuer where the dividend stock is the same stock as that on which the dividend is being paid or (ii) dividends or distributions by or other transactions solely among the Debenture Issuer
and any wholly-owned subsidiary of the Debenture Issuer or solely among wholly-owned subsidiaries of the Debenture Issuer For the avoidance of doubt, the Trust shall have the right to make partial Distributions during an Extension Period if a
corresponding payment of interest is made on the Debentures. Prior to the termination of any such Extension Period, the Debenture Issuer may further extend such Extension Period; provided, that such Extension Period, together with all such
previous and further extensions thereof, may not exceed 20 consecutive quarters; provided further, that no Extension Period may extend beyond the maturity of the Debentures. Payments of deferred Distributions and accrued interest thereon will
be payable to Holders as they appear on the books and records of the Trust on the record date immediately preceding the end of the Extension Period. Upon the termination of any Extension Period and the payment of all amounts then due, the Debenture
Issuer may commence a new Extension Period, subject to the above requirements. The Administrative Trustees will give notice to each Holder of any Extension Period upon their receipt of notice thereof from the Debenture Issuer. 
 (c) Distributions on the Securities will be payable to the Holders thereof as they appear on the books and records of the Trust at the close
of business on the relevant record dates. While the Trust Preferred Securities are in definitive, fully-registered form, subject to the rules of any securities exchange on which the Trust Preferred Securities are listed, the relevant record dates
shall be 15 days prior to the relevant payment dates or such other record date fixed by the Administrative Trustee that is not more than 60 nor less than 10 days prior to such relevant payment dates (each a “Distribution Record
Date”), which payment dates shall correspond to the interest payment dates on the Debentures. If the Trust Preferred Securities shall be in book-entry only form, the relevant record dates shall be one Business Day prior to the relevant
payment dates, which payment dates shall correspond to the interest payment dates on the Debentures. Subject to any applicable laws and regulations and the provisions of the Declaration, each such payment in respect of the Trust Preferred Securities
will be made in accordance with the procedures of The Depository Trust Company (“DTC”). The relevant record dates for the Common Securities shall be the same record date as for the Trust Preferred Securities. Distributions payable
on any Securities that are not punctually paid on any Distribution payment date, as a result of the Debenture Issuer having failed to make a payment under the Debentures, will cease to be payable to the Person in whose name such Securities are
registered on the relevant record date, and such defaulted Distribution will instead be payable to the Person in whose name such Securities are registered on the special record date or other specified date determined in accordance with the
Indenture. If any date on which Distributions are payable on the Securities is not a Business Day, then payment of the Distribution payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or
other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on
such date. Any day that is a Distribution Record Date shall be a Distribution Record Date whether or not such day is a Business Day. 
  

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 (d) In the event that there is any money or other property, held by or for the Trust that is
not accounted for hereunder, such property shall be distributed Pro Rata (as defined herein) among the Holders of the Securities. 
  

	3.	Liquidation Distribution Upon Dissolution. 

 (a) In the event of any voluntary or involuntary dissolution, of the Trust, the Holders of the Securities will be entitled to receive out of the assets of the Trust available for distribution to Holders
of Securities after satisfaction of claims and obligations of the Trust pursuant to applicable law, distributions in an amount equal to the aggregate of the stated liquidation amount per Security plus accrued and unpaid Distributions thereon to the
date of payment (such amount being the “Liquidation Distribution”), unless, in connection with the winding-up, Debentures in an aggregate principal amount equal to the aggregate stated liquidation amount, with an interest rate equal
to the Coupon Rate, and bearing accrued and unpaid interest in an amount equal to the accumulated and unpaid Distributions on, such Securities outstanding at such time, have been distributed on a Pro Rata basis to the Holders of the Securities in
exchange for such Securities. Prior to any such Liquidation Distribution, the Debenture Issuer will obtain any required regulatory approval. 
 (b) If, upon any such dissolution, the Liquidation Distribution can be paid only in part because the Trust has insufficient assets available to pay in full the aggregate Liquidation Distribution, then the
amounts payable directly by the Trust on the Securities shall be paid on a Pro Rata basis. 
  

	4.	Redemption and Distribution. 

 (a) Upon the repayment of the Debentures in whole or in part, whether at maturity or upon redemption (either at the option of the Debenture Issuer or pursuant to a Special Event as described below or while Trust Preferred Securities are
held by the U.S. Government in connection with assistance provided to the Debenture Issuer under the Troubled Asset Relief Program or any similar or related U.S. Government program, subject to consultation with the Board of Governors of the Federal
Reserve System (the “Federal Reserve”)), the proceeds from such repayment or payment shall be simultaneously applied to redeem Securities having an aggregate liquidation amount equal to the aggregate principal amount of the
Debentures so repaid or redeemed at a redemption price equal to the liquidation amount per Security plus an amount equal to accrued and unpaid Distributions thereon at the date of the redemption, payable in cash (the “Redemption
Price”). Holders shall be given not less than 30 nor more than 60 days’ notice of such redemption. Prior to any such redemption, the Debenture Issuer will obtain any required regulatory approval. 
 (b) If fewer than all the outstanding Securities are to be so redeemed, the Securities will be redeemed Pro Rata and the Trust Preferred
Securities to be redeemed will be as described in Section 4(e)(ii) below. 
 (c) Subject to obtaining any required
regulatory approval, if, at any time, a Tax Event, an Investment Company Event or a Regulatory Capital Event (each as defined below, and each a “Special Event”) shall occur and be continuing, the Debenture Issuer shall have the right, upon
not less than 30 nor more than 60 days’ notice, to redeem the Debentures, in whole or in

  

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part, for cash within 90 days following the occurrence of such Special Event, and, following such redemption, Securities with an aggregate liquidation amount equal to the aggregate principal
amount of the Debentures so redeemed shall be redeemed by the Trust at the Redemption Price on a Pro Rata basis; provided, however, that if at the time there is available to the Debenture Issuer or the Trust the opportunity to
eliminate, within such 90-day period, the Special Event by taking some ministerial action, such as filing a form or making an election or pursuing some other similar reasonable measure that will have no adverse effect on the Trust (a
“Ministerial Action”), the Debenture Issuer or the holders of the Trust Preferred Securities or the Debentures, then the Debenture Issuer or the Trust will pursue such measure in lieu of redemption. 
 “Tax Event” means that the Administrative Trustees shall have received an opinion of a nationally recognized independent
tax counsel experienced in such matters (a “Tax Event Opinion”) to the effect that, as a result of (a) any amendment to, or change (including any announced prospective change) in, the laws (or any regulations thereunder), of
the United States or any political subdivision or taxing authority thereof or therein or (b) any amendment to, or change in, an interpretation or application of such laws or regulations by any legislative body, court, governmental agency or
regulatory authority (including the enactment of any legislation and the publication of any judicial decision or regulatory determination or administrative pronouncement on or after December 30, 2009), in either case after December 30,
2009, there is more than an insubstantial risk that (i) the Trust would be subject to United States federal income tax with respect to interest accrued or received on the Debentures, (ii) the Trust would be subject to more than a de
minimis amount of other taxes, duties or other governmental charges, or (iii) interest payable to the Trust on the Debentures would not be deductible, in whole or in part, by the Debenture Issuer for United States federal income tax purposes.

 “Investment Company Event” means that the Administrative Trustees shall have received an opinion of a
nationally recognized independent counsel experienced in practice under the Investment Company Act to the effect that, as a result of the occurrence of a change in law or regulation or a written change in interpretation or application of law or
regulation by any legislative body, court, governmental agency or regulatory authority (a “Change in 1940 Act Law”), there is a more than an insubstantial risk that the Trust is or will be considered an Investment Company which is required
to be registered under the Investment Company Act, which Change in 1940 Act Law becomes effective on or after December 30, 2009. 
 “Regulatory Capital Event” means a determination by the Debenture Issuer, based on an opinion of counsel experienced in such matters (who may be an employee of the Debenture Issuer or any of its affiliates), that, as a
result of (a) any amendment to, clarification of or change (including any announced prospective change) in applicable laws or regulations or official interpretations thereof or policies with respect thereto or (b) any official
administrative pronouncement or judicial decision interpreting or applying such laws or regulations, which amendment, clarification, change, pronouncement or decision is announced or is effective after December 30, 2009, there is more than an
insubstantial risk that the Trust Preferred Securities will no longer constitute Tier I Capital of the Debenture Issuer or any bank holding company of which the Debenture Issuer is a subsidiary (or its equivalent) for purposes of the capital
adequacy guidelines or policies of the Federal Reserve or its successor as the Debenture Issuer’s primary federal banking regulator, provided, however, that the distribution of the Securities in connection with the liquidation of the Trust
shall not in and of itself constitute a Regulatory Capital Event unless such liquidation shall have occurred in connection with a Tax Event or an Investment Company Event. 
  

 I-5 

 On and from the date fixed by the Administrative Trustees for any distribution of the
Debentures and dissolution of the Trust: (i) the Securities will no longer be deemed to be outstanding, (ii) if any Global Securities have been issued, DTC or its nominee (or any successor Clearing Agency or its nominee), as the record
Holder of the Trust Preferred Securities, will receive a registered global certificate or certificates representing the Debentures to be delivered upon such distribution and (iii) any certificates representing Securities, except for
certificates representing Trust Preferred Securities held by DTC or its nominee (or any successor Clearing Agency or its nominee), will be deemed to represent beneficial interests in the Debentures having an aggregate principal amount equal to the
aggregate stated liquidation amount of, with an interest rate identical to the Coupon Rate of, and accrued and unpaid interest equal to accrued and unpaid Distributions on such Securities until such certificates are presented to the Debenture Issuer
or its agent for transfer or reissue. 
 (d) The Trust may not redeem fewer than all the outstanding Securities unless all
accumulated and unpaid Distributions have been paid on all Securities for all quarterly Distribution periods terminating on or before the date of redemption. 
 (e) Redemption or Distribution procedures will be as follows: 
 (i) Notice of any
redemption of, or notice of distribution of Debentures in exchange for the Securities (a “Redemption/Distribution Notice”) will be given by the Trust by mail to the Institutional Trustee and the Delaware Trustee and to each Holder
of the Securities to be redeemed or exchanged not fewer than 30 nor more than 60 days before the date fixed for redemption or exchange thereof which, in the case of a redemption, will be the date fixed for redemption of the Debentures. For purposes
of the calculation of the date of redemption or exchange and the dates on which notices are given pursuant to this Section 4(e)(i), a Redemption/Distribution Notice shall be deemed to be given on the day such notice is first mailed by
first-class mail, postage prepaid, to the Holders of the Securities. Each Redemption/Distribution Notice shall be addressed to the Holders of the Securities at the address of each such Holder appearing in the books and records of the Trust. No
defect in the Redemption/Distribution Notice or in the mailing of either thereof with respect to any Holder shall affect the validity of the redemption or exchange proceedings with respect to any other Holder. 
 (ii) In the event that fewer than all the outstanding Securities are to be redeemed, the Securities to be redeemed shall be redeemed Pro
Rata from each Holder of Trust Preferred Securities, it being understood that, in respect of Trust Preferred Securities registered in the name of and held of record by DTC or its nominee (or any successor Clearing Agency or its nominee), the
distribution of the proceeds of such redemption will be made to each Clearing Agency Participant (or Person on whose behalf such nominee holds such securities) in accordance with the procedures applied by such agency or nominee. 
 (iii) If Securities are to be redeemed and the Trust gives a Redemption/Distribution Notice, which notice may only be issued if the
Debentures are redeemed as set out in this Section 4 (which notice will be irrevocable), then (A) while the Trust

  

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Preferred Securities are in book-entry only form, with respect to the Trust Preferred Securities, by 12:00 noon, New York City time, on the redemption date, provided that the Debenture
Issuer has paid to the Institutional Trustee a sufficient amount of cash in connection with the related redemption or maturity of the Debentures, the Institutional Trustee will deposit irrevocably with DTC or its nominee (or successor Clearing
Agency or its nominee) funds sufficient to pay the applicable Redemption Price with respect to the Trust Preferred Securities and will give DTC (or any successor Clearing Agency) irrevocable instructions and authority to pay the Redemption Price to
the Holders of the Trust Preferred Securities, and (B) with respect to Trust Preferred Securities issued in definitive form and Common Securities, provided, that the Debenture Issuer has paid the Institutional Trustee a sufficient amount
of cash in connection with the related redemption or maturity of the Debentures, the Institutional Trustee will pay the relevant Redemption Price to the Holders of such Securities by check mailed to the address of the relevant Holder appearing on
the books and records of the Trust on the redemption date. If a Redemption/Distribution Notice shall have been given and funds deposited as required, if applicable, then immediately prior to the close of business on the date of such deposit, or on
the redemption date, as applicable, distributions will cease to accrue on the Securities so called for redemption and all rights of the Holders of such Securities so called for redemption will cease, except the right of the Holders of such
Securities to receive the Redemption Price, but without interest on such Redemption Price. Neither the Administrative Trustees nor the Trust shall be required to register or cause to be registered the transfer of any Securities that have been so
called for redemption. If any date fixed for redemption of Securities is not a Business Day, then payment of the Redemption Price payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other
payment in respect of any such delay) except that, if such Business Day falls in the next calendar year, such payment will be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date fixed
for redemption. If payment of the Redemption Price in respect of any Securities is improperly withheld or refused and not paid either by the Institutional Trustee or by the Sponsor as guarantor pursuant to the relevant Securities Guarantee,
Distributions on such Securities will continue to accrue from the original redemption date to the actual date of payment, in which case the actual payment date will be considered the date fixed for redemption for purposes of calculating the
Redemption Price. 
 (iv) Redemption/Distribution Notices shall be sent by the Administrative Trustees on behalf of the Trust to
(A) in respect of the Trust Preferred Securities, DTC or its nominee (or any successor Clearing Agency or its nominee) if the Global Certificates have been issued or, if Definitive Trust Preferred Security Certificates have been issued, to the
Holder thereof and (B) in respect of the Common Securities to the Holder thereof. 
 (v) Subject to the foregoing and
applicable law (including, without limitation, United States federal securities laws), the Debenture Issuer or its affiliates may at any time and from time to time purchase outstanding Trust Preferred Securities by tender, in the open market or by
private agreement. 
  

	5.	Voting Rights — Trust Preferred Securities. 

 (a) Except as provided under Sections 5(b), 5(c) and 7 and as otherwise required by law and the Declaration, the Holders of the Trust Preferred Securities will have no voting rights. 
  

 I-7 

 (b) So long as any Trust Preferred Securities are outstanding, the vote or consent of the
Holders of a Majority in aggregate liquidation amount of the Trust Preferred Securities, voting separately as a class, shall be necessary for effecting or validating: 
 (i) Any authorization or issuance of equity securities of the Trust ranking senior to the Trust Preferred Securities with respect to either or both the payment of distributions and/or the distribution of
assets on any liquidation, dissolution or winding up of the Issuer; 
 (ii) Any amendment, alteration or repeal of any provision
of the Indenture or Declaration (including, unless no vote on such merger or consolidation is required by Section 5(b)(iii) below, any amendment, alteration or repeal by means of a merger, consolidation or otherwise) so as to adversely affect
the rights, preferences, privileges or voting powers of the Trust Preferred Securities; or 
 (iii) Any consummation of a
binding exchange or reclassification involving the Trust Preferred Securities, unless in each case (x) the Trust Preferred Securities remain outstanding or, in the case of any such merger or consolidation with respect to which the Debenture
Issuer is not the surviving or resulting entity, are converted into or exchanged for preference securities of the surviving or resulting entity or its ultimate parent, and (y) such units remaining outstanding or such preference securities, as
the case may be, have such rights, preferences, privileges and voting powers, and limitations and restrictions thereof, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting
powers, and limitations and restrictions thereof, of Trust Preferred Securities immediately prior to such consummation, taken as a whole; 
 (c) Subject to the requirements set forth in this paragraph, the Holders of a Majority in aggregate liquidation amount of the Trust Preferred Securities, voting separately as a class, may direct the time,
method, and place of conducting any proceeding for any remedy available to the Institutional Trustee, or direct the exercise of any trust or power conferred upon the Institutional Trustee under the Declaration, including the right to direct the
Institutional Trustee, as holder of the Debentures, to (i) direct the time, method and place of conducting any proceeding for any remedy available to the Debenture Trustee, or exercising any trust or power conferred on the Debenture Trustee
with respect to the Debentures, (ii) waive any past Default (as defined in the Indenture) that is waivable under Section 5.6 of the Indenture, (iii) exercise any right to rescind or annul a declaration that the principal of all the
Debentures shall be due and payable or (iv) consent to any amendment, modification or termination of the Indenture or the Debentures where such consent shall be required; provided that, where a consent or action under the Indenture would
require the consent or act of the Holders of greater than a majority in principal amount of Debentures affected thereby (a “Super Majority”), the Institutional Trustee may only give such consent or take such action at the written
direction of the Holders of at least the proportion in liquidation amount of the Trust Preferred Securities which the relevant Super Majority represents of the aggregate principal amount of the Debentures outstanding; provided,
further, that the Institutional Trustee shall have the right to refrain from following any such direction that violates the Declaration or conflicts with any applicable rule of law or would involve it in personal liability against which
indemnity would, in the opinion of the Institutional Trustee, not be adequate, and the Institutional Trustee may take any other action deemed proper by it that is not inconsistent with such direction. The Institutional Trustee shall not revoke any
action previously authorized or approved by a vote of the Holders of the Trust Preferred

  

 I-8 

 
Securities. Except with respect to directing the time, method and place of conducting a proceeding for a remedy available to the Institutional Trustee, the Institutional Trustee, as holder of the
Debentures, shall not take any of the actions described in clauses (i), (ii), (iii) or (iv) above unless the Institutional Trustee has obtained an opinion of a nationally recognized independent tax counsel experienced in such matters to
the effect that as a result of such action, the Trust will not fail to be classified as a grantor trust for United States federal income tax purposes. If the Institutional Trustee fails to enforce its rights under the Debentures, any Holder of Trust
Preferred Securities may directly institute a legal proceeding against the Debenture Issuer to enforce the Institutional Trustee’s rights under the Debentures without first instituting a legal proceeding against the Institutional Trustee or any
other Person or entity. If a Default under the Declaration has occurred and is continuing and such event is attributable to the failure of the Debenture Issuer to pay interest or principal (or premium, if any) on the Debentures on the date such
interest or principal (or premium, if any) is otherwise payable (or in the case of redemption, on the redemption date), then a holder of Trust Preferred Securities may also directly institute a proceeding for enforcement of payment to such holder (a
“Direct Action”) of the principal of or interest (or premium, if any) on the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Preferred Securities of such holder on or after the respective
due date specified or provided for in the Debentures without first (i) directing the Institutional Trustee to enforce the terms of the Debentures or (ii) instituting a legal proceeding directly against the Debenture Issuer to enforce the
Institutional Trustee’s rights under the Debentures. Except as provided in the preceding sentence, the Holders of Trust Preferred Securities will not be able to exercise directly any other remedy available to the holders of the Debentures. In
connection with such Direct Action, the Debenture Issuer will be subrogated to the rights of such Holder of Trust Preferred Securities under the Declaration to the extent of any payment made by the Debenture Issuer to such holder of Trust Preferred
Securities in such Direct Action. 
 Any required approval or direction of Holders of Trust Preferred Securities may be given at
a separate meeting of Holders of Trust Preferred Securities convened for such purpose, at a meeting of all of the Holders of Securities in the Trust or pursuant to written consent. The Administrative Trustees will cause a notice of any meeting at
which Holders of Trust Preferred Securities are entitled to vote, or of any matter upon which action by written consent of such Holders is to be taken, to be mailed to each Holder of record of Trust Preferred Securities. Each such notice will
include a statement setting forth (i) the date of such meeting or the date by which such action is to be taken, (ii) a description of any resolution proposed for adoption at such meeting on which such Holders are entitled to vote or of
such matter upon which written consent is sought and (iii) instructions for the delivery of proxies or consents. 
 No vote
or consent of the Holders of the Trust Preferred Securities will be required for the Trust to redeem and cancel Trust Preferred Securities or to distribute the Debentures in accordance with this Declaration and the terms of the Securities.

 Notwithstanding that Holders of Trust Preferred Securities are entitled to vote or consent under any of the circumstances
described above, any of the Trust Preferred Securities that are owned by the Sponsor or any Affiliate of the Sponsor shall not be entitled to vote or consent and shall, for purposes of such vote or consent, be treated as if they were not
outstanding; provided, however, that the U.S. Government shall not be an Affiliate of the Sponsor for purposes of this

  

 I-9 

 
provision and shall be entitled to vote or consent under the circumstances described above while it is a Holder of Trust Preferred Securities. 
  

	6.	Voting Rights — Common Securities. 

 (a) Except as provided under Sections 6(b), 6(c) and 7 and as otherwise required by law and the Declaration, the Holders of the Common Securities will have no voting rights. 
 (b) The Holders of the Common Securities are entitled, in accordance with and subject to Article V of the Declaration, to vote to appoint,
remove or replace any Trustee or to increase or decrease the number of Trustees. 
 (c) Subject to Section 2.6 of the
Declaration and only after the Default with respect to the Trust Preferred Securities has been cured, waived, or otherwise eliminated and subject to the requirements of the second to last sentence of this paragraph, the Holders of a Majority in
liquidation amount of the Common Securities, voting separately as a class, may direct the time, method, and place of conducting any proceeding for any remedy available to the Institutional Trustee, or direct the exercise of any trust or power
conferred upon the Institutional Trustee under the Declaration, including (i) directing the time, method, place of conducting any proceeding for any remedy available to the Debenture Trustee, or exercising any trust or power conferred on the
Debenture Trustee with respect to the Debentures, (ii) waiving any past Default (as defined in the Indenture) that is waivable under Section 5.6 of the Indenture, or (iii) exercising any right to rescind or annul a declaration that
the principal of all the Debentures shall be due and payable, provided that, where a consent or action under the Indenture would require the consent or act of the Holders of a Super Majority of the Debentures affected thereby, the
Institutional Trustee may only give such consent or take such action at the written direction of the Holders of at least the proportion in liquidation amount of the Common Securities which the relevant Super Majority represents of the aggregate
principal amount of the Debentures outstanding; provided, further, that the Institutional Trustee shall have the right to refrain from following any such direction that violates the Declaration or conflicts with any applicable rule of
law or would involve it in personal liability against which indemnity would, in the opinion of the Institutional Trustee, not be adequate, and the Institutional Trustee may take any other action deemed proper by it that is not inconsistent with such
direction. Pursuant to this Section 6(c), the Institutional Trustee shall not revoke any action previously authorized or approved by a vote of the Holders of the Trust Preferred Securities. Other than with respect to directing the time, method
and place of conducting any proceeding for any remedy available to the Institutional Trustee or the Debenture Trustee as set forth above, the Institutional Trustee shall not take any action in accordance with the directions of the Holders of the
Common Securities under this paragraph unless the Institutional Trustee has obtained an opinion of nationally recognized tax counsel experienced in such matters to the effect that for the purposes of United States federal income tax the Trust will
not be classified as other than a grantor trust on account of such action. If the Institutional Trustee fails to enforce its rights under the Declaration, any Holder of Common Securities may institute a legal proceeding directly against any Person
to enforce the Institutional Trustee’s rights under the Declaration, without first instituting a legal proceeding against the Institutional Trustee or any other Person. 
 Any approval or direction of Holders of Common Securities may be given at a separate meeting of Holders of Common Securities convened for
such purpose, at a meeting of all of the

  

 I-10 

 
Holders of Securities in the Trust or pursuant to written consent. The Administrative Trustees will cause a notice of any meeting at which Holders of Common Securities are entitled to vote, or of
any matter upon which action by written consent of such Holders is to be taken, to be mailed to each Holder of record of Common Securities. Each such notice will include a statement setting forth (i) the date of such meeting or the date by
which such action is to be taken, (ii) a description of any resolution proposed for adoption at such meeting on which such Holders are entitled to vote or of such matter upon which written consent is sought and (iii) instructions for the
delivery of proxies or consents. 
 No vote or consent of the Holders of the Common Securities will be required for the Trust to
redeem and cancel Common Securities or to distribute the Debentures in accordance with the Declaration and the terms of the Securities. 
  

	7.	Amendments to Declaration and Indenture. 

 (a) In addition to any requirements under Section 12.1 of the Declaration, if any proposed amendment to the Declaration provides for, or the Administrative Trustees otherwise propose to effect,
(i) any action that would adversely affect the powers, preferences or special rights of the Securities, whether by way of amendment to the Declaration or otherwise, or (ii) the dissolution, winding-up or termination of the Trust, other
than as described in Section 8.1 of the Declaration, then the Holders of outstanding Securities as a class, will be entitled to vote on such amendment or proposal (but not on any other amendment or proposal) and such amendment or proposal shall
not be effective except with the approval of the Holders of at least a Majority in liquidation amount of the Securities, voting together as a single class; provided, however, if any amendment or proposal referred to in clause
(i) above would adversely affect only the Trust Preferred Securities or only the Common Securities, then only the affected class will be entitled to vote on such amendment or proposal and such amendment or proposal shall not be effective except
with the approval of a Majority in liquidation amount of such class of Securities. 
 (b) In the event the consent of the
Institutional Trustee as the holder of the Debentures is required under the Indenture with respect to any amendment, modification or termination of the Indenture or the Debentures, the Institutional Trustee shall request the written direction of the
Holders of the Securities with respect to such amendment, modification or termination and shall vote with respect to such amendment, modification or termination as directed by a Majority in liquidation amount of the Securities voting or consenting
together as a single class; provided, however, that where a consent under the Indenture would require the consent of a Super Majority, the Institutional Trustee may only give such consent at the direction of the Holders of at least the
proportion in liquidation amount of the Securities which the relevant Super Majority represents of the aggregate principal amount of the Debentures outstanding; provided, further, that the Institutional Trustee shall not take any
action in accordance with the directions of the Holders of the Securities under this Section 7(b) unless the Institutional Trustee has obtained an opinion of nationally recognized tax counsel experienced in such matters to the effect that for
the purposes of United States federal income tax the Trust will not be classified as other than a grantor trust on account of such action. 
  

 I-11 

	8.	Pro Rata. 

 A reference in
these terms of the Securities to any payment, distribution or treatment as being “Pro Rata” shall mean pro rata to each Holder of Securities according to the aggregate liquidation amount of the Securities held by the relevant Holder
in relation to the aggregate liquidation amount of all Securities outstanding unless, in relation to a payment, a Default under the Declaration has occurred and is continuing, in which case any funds available to make such payment shall be paid
first to each Holder of the Trust Preferred Securities pro rata according to the aggregate liquidation amount of Trust Preferred Securities held by the relevant Holder relative to the aggregate liquidation amount of all Trust Preferred Securities
outstanding, and only after satisfaction of all amounts owed to the Holders of the Trust Preferred Securities, to each Holder of Common Securities pro rata according to the aggregate liquidation amount of Common Securities held by the relevant
Holder relative to the aggregate liquidation amount of all Common Securities outstanding. 
  

	9.	Ranking. 

 The Trust
Preferred Securities rank pari passu and payment thereon shall be made Pro Rata with the Common Securities except that, where a Default (as defined in the Indenture) occurs and is continuing under the Indenture in respect of the Debentures
held by the Institutional Trustee, the rights of Holders of the Common Securities to payment in respect of Distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights to payment of the Holders of the Trust
Preferred Securities. 
  

	10.	Listing. 

 The Trust
Preferred Securities will not initially be listed on any exchange. In the event that the Holder of the Common Securities determines to list the Trust Preferred Securities on an exchange, the Administrative Trustees shall use their best efforts to
cause the Trust Preferred Securities to be so listed. 
  

	11.	Acceptance of Securities Guarantee and Indenture. 

 Each Holder of Trust Preferred Securities and Common Securities, by the acceptance thereof, agrees to the provisions of the Guarantee Agreement, including the subordination provisions therein and to the
provisions of the Indenture. 
  

	12.	No Preemptive Rights. 

 The Holders of the Securities shall have no preemptive rights to subscribe for any additional securities. 
  

	13.	Miscellaneous. 

 These
terms constitute a part of the Declaration. 
 The Sponsor will provide a copy of the Declaration or the Guarantee Agreement,
and the Indenture to a Holder without charge on written request to the Sponsor at its principal place of business. 
  

 I-12 

 EXHIBIT A-1 
 FORM OF TRUST PREFERRED SECURITY CERTIFICATE 
 THE
SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT
WHILE A REGISTRATION STATEMENT RELATING THERETO IS IN EFFECT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR SUCH LAWS. EACH PURCHASER OF THE SECURITIES REPRESENTED BY THIS
INSTRUMENT IS NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. ANY TRANSFEREE OF THE SECURITIES REPRESENTED BY THIS INSTRUMENT BY ITS ACCEPTANCE HEREOF
(1) REPRESENTS THAT IT IS (X) A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (Y) AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a) (1), (2),
(3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT OFFER, SELL OR OTHERWISE TRANSFER THE SECURITIES REPRESENTED BY THIS INSTRUMENT EXCEPT (A) PURSUANT TO A REGISTRATION STATEMENT WHICH IS THEN EFFECTIVE
UNDER THE SECURITIES ACT, (B) FOR SO LONG AS THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) TO THE DEBENTURE ISSUER OR (D) PURSUANT
TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT
OF THIS LEGEND. 
 THE DEBENTURES WERE ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”) FOR PURPOSES OF SECTIONS
1272, 1273, AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. GMAC, INC. (THE “COMPANY”) WILL, BEGINNING NO LATER THAN TEN (10) DAYS AFTER THE ISSUE DATE, PROMPTLY PROVIDE TO HOLDERS OF SECURITIES, UPON WRITTEN REQUEST, THE
ISSUE PRICE, THE AMOUNT OF OID, THE ISSUE DATE, AND THE YIELD TO MATURITY WITH RESPECT TO THE DEBENTURES. ANY SUCH WRITTEN REQUEST SHOULD BE SENT TO THE COMPANY AT GMAC INC., 200 RENAISSANCE CENTER, P.O. BOX 200, DETROIT, MICHIGAN 48265-2000,
ATTENTION: CHIEF FINANCIAL OFFICER. 
 ANY PURCHASER OR HOLDER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE DEEMED TO HAVE
REPRESENTED AND WARRANTED BY ITS PURCHASE AND HOLDING THEREOF THAT EITHER (I) NO PORTION OF THE ASSETS USED BY IT TO ACQUIRE AND HOLD THE SECURITY CONSTITUTES

  

 A1-1 

 
ASSETS OF ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO SECTION 406 OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN, ACCOUNT OR OTHER
ARRANGEMENT SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR
THE CODE (COLLECTIVELY, “SIMILAR LAWS”), OR ANY ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH EMPLOYEE BENEFIT PLAN OR OTHER PLAN, ACCOUNT OR ARRANGEMENT OR (II) THE PURCHASE AND HOLDING OF
THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY APPLICABLE SIMILAR LAW. 
  

			
	Certificate Number	 	Number of Trust Preferred Securities
		
		 	CUSIP NO.
                                        

		
		 	Aggregate liquidation amount:
		
		 	$                                

  

 A1-2 

 Certificate Evidencing Trust Preferred Securities 
 of 
 GMAC Capital
Trust I 
 8.0% Trust Preferred Securities 
 (Liquidation Amount $1,000 per Trust Preferred Security) 
 GMAC Capital Trust I, a
statutory trust formed under the laws of the State of Delaware (the “Trust”), hereby certifies that                      (the
“Holder”) is the registered owner of                     
(            ) preferred securities of the Trust representing undivided beneficial interests in the assets of the Trust designated the 8.0% Trust Preferred Securities (the
“Trust Preferred Securities”). The Trust Preferred Securities are transferable on the books and records of the Trust, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for
transfer. The designation, rights, privileges, restrictions, preferences and other terms and provisions of the Trust Preferred Securities are set forth in, and this certificate and the Trust Preferred Securities represented hereby are issued and
shall in all respects be subject to, the provisions of the Amended and Restated Declaration of Trust of the Trust dated as of December 30, 2009, as the same may be amended from time to time (the “Declaration”), including the
designation of the terms of the Trust Preferred Securities as set forth in Annex I thereto. Capitalized terms used herein but not defined shall have the meaning given them in the Declaration. The Holder is entitled to the benefits of the Guarantee
Agreement to the extent provided therein. The Sponsor will provide a copy of the Declaration, the Guarantee Agreement and the Indenture to a Holder without charge upon written request to the Sponsor at its principal place of business. 
 The Holder of this certificate, by accepting this certificate, is deemed to have (i) agreed to the terms of the Indenture and the
Debentures, including that the Debentures are subordinate and junior in right of payment to all Senior Indebtedness (as defined in the Indenture) and (ii) agreed to the terms of the Guarantee Agreement, including that the Guarantee Agreement is
(A) subordinate and junior in right of payment to all other liabilities of GMAC, (B) pari passu with the most senior preferred or preference stock now or hereafter issued by GMAC and with any guarantee now or hereafter issued by
GMAC with respect to preferred or preference stock of GMAC’s affiliates and (C) senior to GMAC’s common stock. 
 Upon receipt of this certificate, the Holder is bound by the Declaration and is entitled to the benefits thereunder. 
 By acceptance, the Holder agrees to treat, for United States federal income tax purposes, the Debentures as indebtedness and the Trust Preferred Securities as evidence of indirect beneficial ownership in the Debentures. 
  

 A1-3 

 IN WITNESS WHEREOF, the Trust has executed this certificate this
             day of             ,             .

  

			
	GMAC Capital Trust I
		
	By:	 	  

	Name:	 	
	Title:	 	Administrative Trustee

  

 A1-4 

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Trust Preferred Security Certificate to: 
  
  
  
  
  
  

	
	  

 (Insert assignee’s social security or tax identification number) 
  
  
  
  
  
  

	
	  

 (Insert address and zip code of assignee) 
  

			
	and irrevocably appoints	  	  

  
  
                                        
                      agent to transfer this Trust Preferred Security Certificate on the books of the Trust. The agent may substitute another
to act for him or her. 
  

			
	Date:	 	  

  

			
	Signature:	 	  

 (Sign exactly as your name appears on the other side of this Trust Preferred Security Certificate)

  

 A1-5 

 EXHIBIT A-2 
 FORM OF COMMON SECURITY CERTIFICATE 
 TRANSFER OF THIS
CERTIFICATE 
 IS SUBJECT TO THE CONDITIONS 
 SET FORTH IN THE DECLARATION 
 REFERRED TO BELOW 
  

			
	Certificate Number	  	Number of Common Securities

 Certificate Evidencing Common Securities 
 of 
 GMAC Capital
Trust I 
 8.0% Common Securities (Liquidation Amount $1,000 per Common Security) 
 GMAC Capital Trust I, a statutory trust formed under the laws of the State of Delaware (the “Trust”), hereby certifies that GMAC
Inc., a Delaware corporation (the “Holder”), is the registered owner of                     
(            ) common securities of the Trust representing undivided beneficial interests in the assets of the Trust designated the 8.0% Common Securities (the “Common
Securities”). The Common Securities are transferable on the books and records of the Trust, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer and satisfaction of the
other conditions set forth in the Declaration (as defined below), including, without limitation, Section 9.1 thereof. The designation, rights, privileges, restrictions, preferences and other terms and provisions of the Common Securities
represented hereby are issued and shall in all respects be subject to the provisions of the Amended and Restated Declaration of Trust of the Trust dated as of December 30, 2009, as the same may be amended from time to time (the
“Declaration”), including the designation of the terms of the Common Securities as set forth in Annex I thereto. Capitalized terms used herein but not defined shall have the meaning given them in the Declaration. The Sponsor will provide a
copy of the Declaration and the Indenture to a Holder without charge upon written request to the Sponsor at its principal place of business. 
 Upon receipt of this certificate, the Holder is bound by the Declaration and is entitled to the benefits thereunder. 
 The Holder of this certificate, by accepting this certificate, is deemed to have agreed to the terms of the Indenture and the Debentures, including that the Debentures are subordinate and junior in right
of payment to all Senior Indebtedness (as defined in the Indenture) as and to the extent provided in the Indenture. 
 By
acceptance, the Holder agrees to treat, for United States federal income tax purposes, the Debentures as indebtedness and the Common Securities as evidence of indirect beneficial ownership in the Debentures. 
  

 A2-1 

 IN WITNESS WHEREOF, the Trust has executed this certificate this
         day of         ,                     .

  

			
	GMAC Capital Trust I
		
	By:	 	  

	Name:	 	
	Title:	 	Administrative Trustee

  

 A2-2 

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Common Security Certificate to: 
  
  
  
  

	
	  

 (Insert assignee’s social security or tax identification number) 
  
  
  
  

	
	  

 (Insert address and zip code of assignee) 
  

			
	and irrevocably appoints	  	  

  
  
                                        
                      agent to transfer this Common Security Certificate on the books of the Trust. The agent may substitute another to act
for him or her. 
  

			
	Date:	 	  

  

			
	Signature:	 	  

 (Sign exactly as your name appears on the other side of this Common Security Certificate) 

 

 A2-3 

 EXHIBIT B 
 SPECIMEN OF DEBENTURE 
  
  

 
  
  
  
  

 B-1 

 THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT WHILE A REGISTRATION STATEMENT RELATING THERETO IS IN EFFECT UNDER SUCH ACT AND APPLICABLE
STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR SUCH LAWS. EACH PURCHASER OF THE SECURITIES REPRESENTED BY THIS INSTRUMENT IS NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM SECTION 5 OF THE
SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. ANY TRANSFEREE OF THE SECURITIES REPRESENTED BY THIS INSTRUMENT BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT IT IS (X) A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) OR (Y) AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a) (1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT OFFER, SELL
OR OTHERWISE TRANSFER THE SECURITIES REPRESENTED BY THIS INSTRUMENT EXCEPT (A) PURSUANT TO A REGISTRATION STATEMENT WHICH IS THEN EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) TO THE ISSUER OR (D) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
(3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 
 ANY PURCHASER OR HOLDER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED BY ITS PURCHASE AND HOLDING THEREOF THAT EITHER (I) NO PORTION OF THE ASSETS USED BY
IT TO ACQUIRE AND HOLD THE SECURITY CONSTITUTES ASSETS OF ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO SECTION 406 OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN, ACCOUNT OR OTHER
ARRANGEMENT SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR
THE CODE (COLLECTIVELY, “SIMILAR LAWS”), OR ANY ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH EMPLOYEE BENEFIT PLAN OR OTHER PLAN, ACCOUNT OR ARRANGEMENT OR (II) THE PURCHASE AND HOLDING OF
THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY APPLICABLE SIMILAR LAW. 
  

 B-2 

 THIS SECURITY WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”), FOR PURPOSES OF SECTIONS 1272,
1273, AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. GMAC, INC. (THE “COMPANY”) WILL, BEGINNING NO LATER THAN TEN (10) DAYS AFTER THE ISSUE DATE, PROMPTLY PROVIDE TO HOLDERS OF SECURITIES, UPON WRITTEN REQUEST, THE ISSUE
PRICE, THE AMOUNT OF OID, THE ISSUE DATE AND THE YIELD TO MATURITY WITH RESPECT TO THE SECURITIES. ANY SUCH WRITTEN REQUEST SHOULD BE SENT TO THE COMPANY AT GMAC INC., 200 RENAISSANCE CENTER, P.O. BOX 200, DETROIT, MICHIGAN 48265-2000,
ATTENTION: CHIEF FINANCIAL OFFICER. 
 No.      
 $                     
 GMAC INC. 
 8.0% JUNIOR SUBORDINATED 
 DEFERRABLE INTEREST DEBENTURE 
 DUE February 15, 2040 
 GMAC INC., a Delaware corporation (the “Company”, which term includes any successor corporation under the Indenture, dated as of December 30, 2009, between the Company and The Bank of New
York Mellon (as trustee), for value received, hereby promises to pay to The Bank of New York Mellon, as Institutional Trustee of GMAC Capital Trust I (the “Trust”), pursuant to that certain Amended and Restated Declaration of Trust, dated
as of December 30, 2009, or registered assigns, the principal sum of          dollars ($            ) on February 15, 2040,
and to pay interest on said principal sum from December 30, 2009, or from the most recent interest payment date (each such date, an “Interest Payment Date”) to which interest has been paid or duly provided for, quarterly (subject to
deferral as set forth herein) in arrears on February 15, May 15, August 15 and November 15 of each year commencing February 15, 2010, at a rate of 8.0% per annum, until the principal hereof shall have become
due and payable, and on any overdue principal and premium, if any, and (without duplication and to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum
compounded quarterly. The amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year of twelve 30-day months. In the event that an amount of interest is payable for any period shorter than a full
quarterly period, interest will be computed on the basis of the actual number of days elapsed in a partial month in such period. In the event that any date on which interest is payable on this Security is not a Business Day, then payment of interest
payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment
shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. The interest installment so payable, and

  

 B-3 

 
punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities, as
defined in said Indenture) is registered at the close of business on the regular record date for such interest installment, which shall be (a) while this Security is held by the Institutional Trustee of the Trust or is represented by a Global
Security, the close of business on the Business Day next preceding such Interest Payment Date, or (b) if pursuant to the provisions of the Indenture this Security is not in book-entry form, 15 days prior to such Interest Payment Date or such
other record date fixed by the Administrative Trustee that is not more than 60 nor less than 10 days prior to such Interest Payment Date. Any such interest installment not punctually paid or duly provided for shall forthwith cease to be payable to
the registered Holders on such regular record date and may 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 to be fixed by the Trustee for the
payment of such defaulted interest, notice whereof shall be given to the registered Holders of this series of Securities not less than 10 days prior to such special record date, or may 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 the Indenture. The principal of (and premium, if any) and
the interest on this Security shall be payable at the office or agency of the Trustee maintained for that purpose in any coin or currency of the United States of America that at the time of payment is legal tender for payment of public and private
debts; provided, however, that payment of interest may be made at the option of the Company by check mailed to the registered Holder at such address as shall appear in the Security Register. Notwithstanding the foregoing, so long as
the Holder of this Security is the Institutional Trustee of a GMAC Trust, the payment of the principal of (and premium, if any) and interest on this Security will be made at such place and to such account as may be designated by such Institutional
Trustee. 
 This Security is not a deposit or savings account. This Security is not insured by the Federal Deposit Insurance
Corporation or any other governmental agency or instrumentality. 
 The indebtedness evidenced by this Security is, to the
extent provided in the Indenture, subordinate and junior in right of payment to the prior payment in full of all Senior Indebtedness of the Company, and this Security is issued subject to the provisions of the Indenture with respect thereto. Each
Holder of this Security, by accepting the same, (a) agrees to and shall be bound by, such provisions, (b) authorizes and directs the Trustee on his or her behalf to take such action as may be necessary or appropriate to acknowledge or
effectuate the subordination so provided and (c) appoints the Trustee his or her attorney-in-fact for any and all such purposes. Each Holder hereof, by his or her acceptance hereof, hereby waives all notice of the acceptance of the
subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness of the Company, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. 
 This Security shall not be entitled to any benefit under the Indenture hereinafter referred to, be valid or become obligatory for any
purpose until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. 
  

 B-4 

 The provisions of this Security are continued on the reverse side hereof and such continued
provisions shall for all purposes have the same effect as though fully set forth at this place. 
  

 B-5 

 IN WITNESS WHEREOF, the Company has caused this instrument to be executed. 
 Dated:                     , 2009 
  

			
	GMAC INC.
		
	By:	 	  

	Name:	 	[            ]
	Title:	 	[            ]

  

			
	Attest:
		
	By:	 	  

	Name:	 	[            ]
	Title:	 	Assistant Secretary

 CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series of Securities described in the within-mentioned Indenture. 
  

			
	 THE BANK OF NEW YORK MELLON,
 as Trustee

		
	By:	 	  

		 	Authorized Signatory

  

 B-6 

 (REVERSE OF SECURITY) 
 GMAC INC. 
 8.0% JUNIOR SUBORDINATED 

DEFERRABLE INTEREST DEBENTURE 
 DUE FEBRUARY 15, 2040 
 This Security is one of a duly authorized issue of
securities of the Company (herein sometimes referred to as the “Securities”), specified in the Indenture, all issued or to be issued in one or more series under and pursuant to an Indenture dated as of December 30, 2009 (the
“Indenture”), duly executed and delivered between the Company and The Bank of New York Mellon, as trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of
the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Securities. By the terms of the Indenture, the Securities are issuable in series that may vary as to
amount, date of maturity, rate of interest and in other respects as provided in the Indenture. This series of Securities is limited in aggregate principal amount to $            .

 The Company shall have the right to redeem this Security, in whole or in part, (i) while 8.0% Trust Preferred Securities
of the Trust (the “Trust Preferred Securities”) or this Security are held by the U.S. Government in connection with assistance provided to the Company under the Troubled Asset Relief Program or any similar or related U.S. Government
program, subject to consultation with the Federal Reserve; (ii) at the option of the Company without premium or penalty, at any time on or after December 30, 2014 (an “Optional Redemption”); or (iii) any time in certain
circumstances upon the occurrence of a Tax Event, an Investment Company Event or a Regulatory Capital Event (each as defined below, and each a “Special Event”), at a redemption price equal to 100% of the principal amount thereof, plus any
accrued and unpaid interest to the date of such redemption (the “Optional Redemption Price”). Any redemption pursuant to this paragraph will be made at the Optional Redemption Price upon not less than 30 days nor more than 60 days notice,
and with respect to a redemption upon a Special Event, within 90 days following the occurrence of such Special Event; provided, however, that if at the time there is available to the Company or the Trust the opportunity to eliminate,
within such 90 day period, the Special Event by taking some ministerial action, such as filing a form or making an election or pursuing some other similar reasonable measure that will have no adverse effect on the Trust, the Company or the holders
of the Trust Preferred Securities or the Securities, then the Company or the Trust will pursue such measure in lieu of redemption. If the Securities of this series are only partially redeemed by the Company pursuant to an Optional Redemption, such
Securities will be redeemed pro rata or by lot or by any other method utilized by the Trustee; provided that if, at the time of redemption, the Securities of this series are registered as a Global Security, the Depositary (as defined herein)
shall determine the principal amount of such Securities held by each Security Beneficial Owner to be redeemed in accordance with its procedures. 
 “Tax Event” means that the Administrative Trustees shall have received an opinion of a nationally recognized independent tax counsel experienced in such matters (a “Tax Event Opinion”)
to the effect that, as a result of (a) any amendment to, or change (including any announced prospective change) in, the laws (or any regulations thereunder), of the United States or any political subdivision or taxing authority thereof or
therein or (b) any amendment to, or

  

 B-7 

 
change in, an interpretation or application of such laws or regulations by any legislative body, court, governmental agency or regulatory authority (including the enactment of any legislation and
the publication of any judicial decision or regulatory determination or administrative pronouncement on or after December 30, 2009), in either case after December 30, 2009 there is more than an insubstantial risk that (i) the Trust
would be subject to United States federal income tax with respect to interest accrued or received on the Securities of this series, (ii) the Trust would be subject to more than a de minimis amount of other taxes, duties or other governmental
charges, or (iii) interest payable to the Trust on the Securities of this series would not be deductible, in whole or in part, by the Company for United States federal income tax purposes. 
 “Investment Company Event” means that the Administrative Trustees shall have received an opinion of a nationally recognized
independent counsel experienced in practice under the Investment Company Act to the effect that, as a result of the occurrence of a change in law or regulation or a written change in interpretation or application of law or regulation by any
legislative body, court, governmental agency or regulatory authority (a “Change in 1940 Act Law”), there is a more than an insubstantial risk that the Trust is or will be considered an Investment Company which is required to be registered
under the Investment Company Act, which Change in 1940 Act Law becomes effective on or after December 30, 2009. 
 “Regulatory Capital Event” means a determination by the Company, based on an opinion of counsel experienced in such matters (who may be an employee of the Company or any of its affiliates), that, as a result of (a) any
amendment to, clarification of or change (including any announced prospective change) in applicable laws or regulations or official interpretations thereof or policies with respect thereto or (b) any official administrative pronouncement or
judicial decision interpreting or applying such laws or regulations, which amendment, clarification, change, pronouncement or decision is announced or is effective after December 30, 2009, there is more than an insubstantial risk that the Trust
Preferred Securities will no longer constitute Tier I Capital of the Company or any bank holding company of which the Company is a subsidiary (or its equivalent) for purposes of the capital adequacy guidelines or policies of the Board of Governors
of the Federal Reserve System or its successor as the Company’s primary federal banking regulator, provided, however, that the distribution of the Debentures in connection with the liquidation of the Trust shall not in and of
itself constitute a Regulatory Capital Event unless such liquidation shall have occurred in connection with a Tax Event or an Investment Company Event. 
 Any redemption of the Securities of this series, in whole or in part, prior to the stated maturity date is subject to the prior concurrence or approval of the Federal Reserve or the staff thereof,
(i) if such concurrence or approval is then required in order for securities such as the Securities of this series to qualify as tier 1 capital of a bank holding company under applicable capital adequacy guidelines, regulations, policies, or
published interpretations of the Federal Reserve, or (ii) if the Federal Reserve or its staff has informed the Company that it must obtain such approval before redeeming the Securities. 
 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. 
  

 B-8 

 In case an Event of Default, as defined in the Indenture, with respect to the Securities of
this series shall have occurred and be continuing, the principal of all the Securities of this series may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in
the Indenture. 
 The Indenture contains provisions permitting the Company and the Trustee, with the consent of the Holders of
not less than a majority in aggregate principal amount of the Securities of each series affected at the time Outstanding, as defined in the Indenture, to execute supplemental indentures for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the Securities of such series under the Indenture; provided, however, that no such
supplemental indenture shall modify certain provisions of the Indenture, as set forth in the Indenture, without the consent of the Holders of each Security then outstanding and affected thereby including, without limitation, to: (i) extend the
fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof, 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 modify the provisions of the Indenture with respect to the subordination of the Securities in a manner adverse to the Holders, or (ii) reduce the aforesaid percentage of Securities, the Holders
of which are required to consent to any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences) provided
for in the Indenture. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Securities of any series at the time outstanding affected thereby, on behalf of all of the Holders of the
Securities of such series, to waive any past default in the performance of any of the covenants contained in the Indenture, or established pursuant to the Indenture with respect to such series, and its consequences, except a default in the payment
of the principal of or premium, if any, or interest on any of the Securities of such series. Any such consent or waiver by the registered Holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such
Holder and upon all future Holders and owners of this Security and of any Security issued in exchange herefor or in place hereof (whether by registration of transfer or otherwise), irrespective of whether or not any notation of such consent or
waiver is made upon this Security. In determining whether the Holders of the requisite principal amount of Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver under the Indenture or hereunder,
Securities owned by the U.S. Government shall not be deemed to be Securities owned by an Affiliate of the Company. 
 No
reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and premium, if any, and interest on this
Security at the time and place and at the rate and in the money herein prescribed. 
 So long as no Event of Default, as defined
in the Indenture, shall have occurred and be continuing, the Company shall have the right at any time during the term of the Securities of this

  

 B-9 

 
series and from time to time to extend the interest payment period of such Securities for up to 20 consecutive quarters (an “Extended Interest Payment Period”), at the end of which
period the Company shall pay all interest then accrued and unpaid (together with interest thereon at the rate specified for the Securities of this series to the extent that payment of such interest is enforceable under applicable law);
provided, that no such Extended Interest Payment Period shall extend beyond the maturity of such Securities; and provided further that during any such Extended Interest Payment Period (a) the Company and any subsidiary of the
Company (other than a subsidiary of the Company that is a depository institution, or a subsidiary thereof) shall not declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment
with respect to, any of the Company’s capital stock or make any guarantee payment with respect thereto (other than (i) redemptions, purchases or other acquisitions of shares of capital stock of the Company in connection with the
administration of any employee benefit plan in the ordinary course of business and consistent with past practice, (ii) the acquisition by the Company or any of its subsidiaries of record ownership in capital stock of the Company for the
beneficial ownership of any other persons (other than the Company or any of its subsidiaries), including trustees or custodians, (iii) as a result of an exchange or conversion of any class or series of the Company’s capital stock for any
other class or series of the Company’s capital stock, in each case, solely to the extent required pursuant to binding contractual agreements entered into prior to or on the original issue date of the Securities of this series or any subsequent
agreement for the accelerated exercise, settlement or exchange thereof for capital stock of the Company, (iv) distributions by or among any wholly-owned subsidiary of the Company, (v) redemptions of securities held by the Company or any
wholly-owned subsidiary of the Company, and (vi) unpaid tax distributions to holders of membership interests of GMAC LLC pursuant to Section 4(b) of GMAC LLC’s Plan of Conversion, dated June 30, 2009), and (b) the Company
and any subsidiary of the Company (other than a subsidiary of the Company that is a depository institution, or a subsidiary thereof) shall not make any payment of interest on or principal of (or premium, if any, on), or repay, repurchase or redeem,
any debt securities or guarantees issued by the Company which rank pari passu with or junior to the Securities (“Junior Subordinated Indebtedness”) (other than (i) redemptions, purchases or other acquisitions of Junior
Subordinated Indebtedness in connection with the administration of any employee benefit plan in the ordinary course of business and consistent with past practice, (ii) the acquisition by the Company or any of its subsidiaries of record
ownership in Junior Subordinated Indebtedness for the beneficial ownership of any other persons (other than the Company or any of its subsidiaries), including trustees or custodians, (iii) as a result of an exchange or conversion of any class
or series of Junior Subordinated Indebtedness for any other class or series of Junior Subordinated Indebtedness, (iv) redemptions of securities held by the Company or any wholly-owned subsidiary of the Company and (v) any payment of
interest on Junior Subordinated Indebtedness paid pro rata with interest paid on the Securities of this series such that the respective amounts of such payments made shall bear the same ratio to each other as all accrued but unpaid interest
per like-amount of such Securities and all Junior Subordinated Indebtedness bear to each other); provided, however, the restrictions in the foregoing clauses (a) and (b) will not apply to (i) any stock dividends paid by the
Company where the dividend stock is the same stock as that on which the dividend is being paid or (ii) dividends or distributions by or other transactions solely among the Company and any wholly-owned subsidiary of the Company or solely among
wholly-owned subsidiaries of the Company. For the avoidance of doubt, the Company shall have the right to make partial payments of interest on any Interest Payment Date during an Extended Interest Payment Period. Before the termination of any such

  

 B-10 

 Extended Interest Payment Period, the Company may further extend such Extended Interest Payment Period,
provided that such Extended Interest Payment Period together with all such further extensions thereof shall not exceed 20 consecutive quarters and shall not extend beyond the maturity of the Securities of this series. At the termination of
any such Extended Interest Payment Period and upon the payment of all accrued and unpaid interest and any additional amounts then due, the Company may commence a new Extended Interest Payment Period. 
 As provided in the Indenture and subject to certain limitations therein set forth, this Security is transferable by the registered Holder
hereof on the Security Register of the Company, upon surrender of this Security for registration of transfer at the office or agency of the Trustee in the City and State of New York accompanied by a written instrument or instruments of transfer in
form satisfactory to the Company or the Trustee duly executed by the registered Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of authorized denominations and for the same aggregate principal
amount and series will be issued to the designated transferee or transferees. No service charge will be made for any such transfer, but the Company or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge
payable in relation thereto. 
 Prior to due presentment for registration of transfer of this Security, the Company, the
Trustee, any paying agent and the Security Registrar may deem and treat the registered holder hereof as the absolute owner hereof (whether or not this Security shall be overdue and notwithstanding any notice of ownership or writing hereon made by
anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal hereof and premium, if any, and interest due hereon and for all other purposes, and neither the Company nor the Trustee nor any paying
agent nor any Security Registrar shall be affected by any notice to the contrary. 
 No recourse shall be had for the payment of
the principal of or the interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as
such, of the Company or of any predecessor or 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 issuance hereof, expressly waived and released. 
 If issued as a Global Security, this
Global Security is exchangeable for Securities of this series in definitive form only under certain limited circumstances set forth in the Indenture. Securities of this series so issued are issuable only in registered form without coupons in
denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series so issued 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. 
 All terms used in this
Security shall have the meanings assigned to them in the Officer’s Certificate. All other terms used in this Security that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

 B-11 

 EXHIBIT C 
 SECURITIES PURCHASE AND EXCHANGE AGREEMENT 
 [Incorporated by reference to Exhibit 10.1 to this Current Report on Form 8-K] 
  
  

 
  
  
  

 C-1 

 EXHIBIT D 
 [FORM OF CERTIFICATE TO BE DELIVERED UPON 
 TRANSFER OF
PREFERRED SECURITIES] 
 GMAC Inc. 
 200 Renaissance Center 
 P.O. Box 200 
 Detroit, Michigan 48265-2000 
 Facsimile: (313) 656-6214 
 Attention: General Counsel 
 The Bank of New York Mellon 
 101 Barclay Street — 8W 
 New York, New York
10286 
 Attention: Corporate Trust Administration 
  

	Re:	8.0% Trust Preferred Securities, liquidation amount $1,000 per preferred security (the “Securities”) CUSIP #
[                    ] 

 Reference is hereby made to that certain Amended and Restated Declaration of Trust, dated as of December 30, 2009 (the “ARDT”), among GMAC Inc., the administrative trustees named
therein, BNY Mellon Trust of Delaware, as Delaware Trustee, and The Bank of New York Mellon, as Institutional Trustee (the “Institutional Trustee”). Capitalized terms used but not defined herein shall have the meanings set forth in
the ARDT. 
 This certificate relates to $            
aggregate liquidation amount of Securities held in definitive form by the undersigned. 
 The undersigned,
             (transferor), hereby requests that the Security Registrar register a transfer of a Security or Securities to
             (transferee). 
 In connection with such
transfer of the Security or Securities, the undersigned confirms that such Securities are being transferred in accordance with their terms: 
 CHECK ONE BOX BELOW: 
  

	 	 ̈	to GMAC Inc. or any subsidiary thereof; or 

  

	 	 ̈	to a “qualified institutional buyer” within the meaning of Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the
“Securities Act”) and in compliance with Rule 144A or (B) an institutional “accredited investor” within the meaning of subparagraph (a)(1), (2), (3) or (7) of Rule 501 under the Securities Act;

  

	 	 ̈	pursuant to an exemption from registration provided by Rule 144 under the Securities Act or any other available exemption from the registration requirements of the
Securities Act. 

  

 D-1 

 Unless one of the boxes is checked, the Security Registrar will refuse to register the
transfer of any of the Securities referenced in this certificate. 
  

	
	  

	Signature

  

			
	Signature Guarantee:	 	  

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

 TO BE COMPLETED BY PURCHASER IF THE SECOND BOX ABOVE IS CHECKED. 
 The undersigned represents and warrants that: (initial applicable statement)  
              it and any account for which it is acting is a
“qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, as amended (“Rule 144A”), (ii) it exercises sole investment discretion with respect to each such account, and
(iii) it is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and
that it is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
              it is an institutional “accredited investor”
within the meaning of subparagraph (a)(1), (2), (3) or (7) of Rule 501 under the Securities Act purchasing for its own account or for the account of such an “accredited investor”, and it is acquiring the Securities for investment
purposes and not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act, and it has such knowledge and experience in financial and business matters as to be capable of evaluation the merits and
risks of its investment in the Securities, and it and any account for which it is acting is able to bear the economic risks of the investment. 
  

			
	[Name of Transferee]
		
	By:	 	  

	Name:2	 	
	Date:	 	

  

	2	 To be signed by an executive officer. 

  

 D-1 

 EXHIBIT E 
 [FORM OF CERTIFICATE TO BE DELIVERED 
 IN CONNECTION WITH
TRANSFERS PURSUANT TO RULE 144A] 
 GMAC Inc. 
 200 Renaissance Center 
 P.O. Box 200 
 Detroit, Michigan 48265-2000 
 Facsimile: (313) 656-6214 
 Attention: General Counsel 
 The Bank of New York Mellon 
 101 Barclay Street — 8W 
 New York, New York
10286 
 Attention: Corporate Trust Administration 
  

	Re:	8.0% Trust Preferred Securities, liquidation amount $1,000 per preferred security (the “Securities”) CUSIP #
[            ] 

 Ladies and Gentlemen: 
 In connection with our proposed sale of $[            ] aggregate
liquidation amount of the Securities (the “Subject Securities”), we hereby certify that such transfer is being effected pursuant to and in accordance with Rule 144A (“Rule 144A”) under the United States Securities
Act of 1933, as amended, and, accordingly, we hereby further certify that the Subject Securities are being transferred to a person that we reasonably believe is purchasing the Subject Securities for its own account, or for one or more accounts with
respect to which such person exercises sole investment discretion, and such person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such
Subject Securities are being transferred in compliance with any applicable securities laws of any state of the United States. 
 The Bank of New York Mellon and GMAC Inc. are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry
with respect to the matters covered hereby. 
  

	
	Very truly yours,
	
	[Name of Transferor]

  

			
	By:	 	  

	Name:3	 	

  

	3	 To be signed by an authorized signatory. 

  

 E-1Indenture

 Exhibit 4.2 
  
  
  
 GMAC INC. 
 TO 
 THE BANK OF NEW
YORK MELLON  
 Trustee  
  

 
 INDENTURE

 Dated as of December 30, 2009 
  

 
 Providing for
the issuance of Junior Subordinated Debt Securities 
  
  
  

 TABLE OF CONTENTS 
  

					
	 	  	 Page

		
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION	  	1
			
	 Section 1.1
	  	 Definitions
	  	1
	 Section 1.2
	  	 Compliance Certificates and Opinions
	  	8
	 Section 1.3
	  	 Form of Documents Delivered to Trustee
	  	9
	 Section 1.4
	  	 Acts of Holders; Record Dates
	  	9
	 Section 1.5
	  	 Notices, Etc., to Trustee and Company
	  	10
	 Section 1.6
	  	 Notice to Holders; Waiver
	  	10
	 Section 1.7
	  	 Trust Indenture Act
	  	11
	 Section 1.8
	  	 Effect of Headings and Table of Contents
	  	11
	 Section 1.9
	  	 Successors and Assigns
	  	11
	 Section 1.10
	  	 Separability Clause
	  	11
	 Section 1.11
	  	 Benefits of Indenture
	  	12
	 Section 1.12
	  	 Governing Law; Submission to Jurisdiction
	  	12
	 Section 1.13
	  	 Legal Holidays
	  	12
	 Section 1.14
	  	 Tax Characterization
	  	12
	 Section 1.15
	  	 Notices
	  	12
		
	ARTICLE II SECURITY FORMS	  	13
			
	 Section 2.1
	  	 Forms Generally
	  	13
	 Section 2.2
	  	 Form of Face of Security
	  	14
	 Section 2.3
	  	 Form of Reverse of Security
	  	18
	 Section 2.4
	  	 Form of Trustee’s Certificate of Authentication
	  	22
		
	ARTICLE III THE SECURITIES	  	22
			
	 Section 3.1
	  	 Amount Unlimited; Issuable in Series
	  	22
	 Section 3.2
	  	 Denominations
	  	24
	 Section 3.3
	  	 Execution, Authentication, Delivery and Dating
	  	24
	 Section 3.4
	  	 Temporary Securities
	  	25
	 Section 3.5
	  	 Registration, Registration of Transfer and Exchange
	  	26
	 Section 3.6
	  	 Mutilated, Destroyed, Lost and Stolen Securities
	  	27
	 Section 3.7
	  	 Payment of Interest; Interest Rights Preserved
	  	28
	 Section 3.8
	  	 Persons Deemed Owners
	  	29
	 Section 3.9
	  	 Cancellation
	  	29
	 Section 3.10
	  	 Interest
	  	29
	 Section 3.11
	  	 Form and Payment
	  	31
	 Section 3.12
	  	 Global Securities
	  	31
	 Section 3.13
	  	 CUSIP Numbers
	  	32

					
		
	ARTICLE IV SATISFACTION AND DISCHARGE; DEFEASANCE	  	32
			
	 Section 4.1
	  	 Satisfaction and Discharge of Indenture
	  	32
	 Section 4.2
	  	 Defeasance and Discharge
	  	33
	 Section 4.3
	  	 Covenant Defeasance
	  	34
	 Section 4.4
	  	 Conditions to Defeasance or Covenant Defeasance
	  	35
	 Section 4.5
	  	 Application of Trust Money
	  	35
	 Section 4.6
	  	 Indemnity for U.S. Government Obligations
	  	36
	 Section 4.7
	  	 Reinstatement
	  	36
		
	ARTICLE V REMEDIES	  	36
			
	 Section 5.1
	  	 Events of Default
	  	36
	 Section 5.2
	  	 Acceleration of Maturity
	  	37
	 Section 5.3
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	38
	 Section 5.4
	  	 Trustee to File Claims As Attorney-In-Fact
	  	39
	 Section 5.5
	  	 Application of Money Collected
	  	39
	 Section 5.6
	  	 Control by Holders; Waiver of Past Default
	  	40
	 Section 5.7
	  	 Limitation on Suits; Default
	  	41
	 Section 5.8
	  	 Costs and Attorneys’ Fees in Legal Proceedings
	  	42
	 Section 5.9
	  	 Remedies Cumulative
	  	42
	 Section 5.10
	  	 Waiver of Stay or Extension Laws
	  	43
		
	ARTICLE VI THE TRUSTEE	  	43
			
	 Section 6.1
	  	 Certain Duties and Responsibilities
	  	43
	 Section 6.2
	  	 Notice of Defaults
	  	44
	 Section 6.3
	  	 Certain Rights of Trustee
	  	45
	 Section 6.4
	  	 Not Responsible for Recitals or Issuance of Securities
	  	46
	 Section 6.5
	  	 May Hold Securities
	  	46
	 Section 6.6
	  	 Money Held in Trust
	  	47
	 Section 6.7
	  	 Compensation and Reimbursement
	  	47
	 Section 6.8
	  	 Disqualification; Conflicting Interests
	  	47
	 Section 6.9
	  	 Corporate Trustee Required; Eligibility
	  	48
	 Section 6.10
	  	 Resignation and Removal; Appointment of Successor
	  	48
	 Section 6.11
	  	 Acceptance of Appointment by Successor
	  	49
	 Section 6.12
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	50
	 Section 6.13
	  	 Preferential Collection of Claims Against Company
	  	51
	 Section 6.14
	  	 Appointment of Authenticating Agent
	  	51
		
	ARTICLE VII HOLDERS LISTS AND REPORTS BY TRUSTEE AND
COMPANY	  	52
			
	 Section 7.1
	  	 Company to Furnish Trustee Names and Addresses of Holders
	  	52
	 Section 7.2
	  	 Preservation of Information; Communications to Holders
	  	53
	 Section 7.3
	  	 Reports by Trustee
	  	53
	 Section 7.4
	  	 Reports by Company
	  	53
	 Section 7.5
	  	 Officers’ Certificate as to Events of Default
	  	54

  

 - ii - 

					
		
	ARTICLE VIII CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  	54
			
	 Section 8.1
	  	 Company May Consolidate, Etc., Only on Certain Terms
	  	54
	 Section 8.2
	  	 Successor Corporation Substituted
	  	54
		
	ARTICLE IX SUPPLEMENTAL INDENTURES	  	55
			
	 Section 9.1
	  	 Supplemental Indentures Without Consent of Holders
	  	55
	 Section 9.2
	  	 Supplemental Indentures with Consent of Holders
	  	56
	 Section 9.3
	  	 Execution of Supplemental Indentures
	  	57
	 Section 9.4
	  	 Effect of Supplemental Indentures
	  	57
	 Section 9.5
	  	 Conformity with Trust Indenture Act
	  	57
	 Section 9.6
	  	 Reference in Securities to Supplemental Indentures
	  	57
		
	ARTICLE X COVENANTS	  	58
			
	 Section 10.1
	  	 Payment of Principal, Premium and Interest
	  	58
	 Section 10.2
	  	 Maintenance of Office or Agency
	  	58
	 Section 10.3
	  	 Money for Securities Payments to Be Held in Trust
	  	58
	 Section 10.4
	  	 Statement by Officers as to Default
	  	59
	 Section 10.5
	  	 Covenants as to GMAC Trusts
	  	60
	 Section 10.6
	  	 Payment of Expenses
	  	60
	 Section 10.7
	  	 Listing on an Exchange
	  	61
	 Section 10.8
	  	 Future Issuance of Securities under this Indenture
	  	61
		
	ARTICLE XI REDEMPTION OF SECURITIES	  	61
			
	 Section 11.1
	  	 Applicability of Article; Federal Reserve Approval
	  	61
	 Section 11.2
	  	 Election to Redeem; Notice to Trustee
	  	62
	 Section 11.3
	  	 Selection by Trustee of Securities to Be Redeemed
	  	62
	 Section 11.4
	  	 Notice of Redemption
	  	63
	 Section 11.5
	  	 Deposit of Redemption Price
	  	63
	 Section 11.6
	  	 Securities Payable on Redemption Date
	  	63
	 Section 11.7
	  	 Securities Redeemed in Part
	  	64
		
	ARTICLE XII SINKING FUNDS	  	64
			
	 Section 12.1
	  	 Applicability of Article
	  	64
	 Section 12.2
	  	 Satisfaction of Sinking Fund Payments with Securities
	  	65
	 Section 12.3
	  	 Redemption of Securities for Sinking Fund
	  	65
		
	ARTICLE XIII EXTENSION OF INTEREST PAYMENT PERIOD	  	65
			
	 Section 13.1
	  	 Extension of Interest Payment Period
	  	65
	 Section 13.2
	  	 Notice of Extension
	  	66
	 Section 13.3
	  	 Limitation of Transactions
	  	67
		
	ARTICLE XIV SUBORDINATION OF SECURITIES	  	68
			
	 Section 14.1
	  	 Agreement to Subordinate
	  	68
	 Section 14.2
	  	 Default on Senior Indebtedness
	  	68

  

 - iii - 

					
	 Section 14.3
	  	 Liquidation; Dissolution; Bankruptcy
	  	69
	 Section 14.4
	  	 Subrogation
	  	70
	 Section 14.5
	  	 Trustee to Effectuate Subordination
	  	71
	 Section 14.6
	  	 Notice by the Company
	  	71
	 Section 14.7
	  	 Rights of the Trustee; Holders of Senior Indebtedness
	  	72
	 Section 14.8
	  	 Subordination May Not Be Impaired
	  	72
	 Section 14.9
	  	 Trustee’s Compensation Not Prejudiced
	  	72
		
	ARTICLE XV MISCELLANEOUS	  	73
			
	 Section 15.1
	  	 Acknowledgement of Rights
	  	73
	 Section 15.2
	  	 Counterparts
	  	73

  

					
	EXHIBIT A	  	FORM OF TRANSFER CERTIFICATE
	EXHIBIT B	  	FORM OF RULE 144A TRANSFER CERTIFICATE

  

 - iv - 

 INDEX OF TERMS 
  

			
	 	  	Page
		
	Act	  	2
	Additional Interest	  	2, 30
	Administrative Trustees	  	2
	Affiliate	  	2
	Authenticating Agent	  	2
	Board of Directors	  	2
	Board Resolution	  	2
	Book Entry Interest	  	2
	Business Day	  	2
	Commission	  	2
	Common Securities	  	2
	Company	  	1, 2, 15
	Company Order	  	2
	Company Request	  	2
	Compounded Interest	  	3, 65
	Control	  	3
	Corporate Trust Office	  	3
	Coupon Rate	  	3, 29
	Covenant Defeasance	  	3, 34
	Declaration	  	3
	Default	  	3, 41
	Defaulted Interest	  	3, 28
	Defeasance	  	3, 34
	Deferred Interest	  	3, 65
	Delaware Trustee	  	3
	Depositary	  	3
	Direct Action	  	3, 73
	Dissolution Event	  	3
	Distributions	  	3
	Event of Default	  	4, 36
	Exchange Act	  	4
	Extended Interest Payment Period	  	4, 20, 65
	Federal Reserve	  	4
	Floating or Adjustable Rate Provision	  	4
	Floating or Adjustable Rate Security	  	4
	Global Security	  	4
	GMAC Trust	  	4
	Holder	  	4
	Indenture	  	4, 18
	Institutional Trustee	  	4
	Interest Payment Date	  	4, 16, 30
	mandatory sinking fund	  	19
	mandatory sinking fund payment	  	64

  

 - v - 

			
	 Maturity
	  	4
	Non Book-Entry Trust Preferred Securities	  	4, 31
	Officers’ Certificate	  	5
	Opinion of Counsel	  	5
	Optional Redemption	  	18
	Optional Redemption Price	  	18
	optional sinking fund payment	  	64
	Outstanding	  	5
	Paying Agent	  	5
	Person	  	6
	Place of Payment	  	6
	Predecessor Security	  	6
	Private Placement Legend	  	6, 14
	Redemption Date	  	6
	Redemption Price	  	6
	Regular Record Date	  	6
	Responsible Officer	  	6
	Securities	  	1, 6, 18
	Securities Act	  	6, 14
	Security Beneficial Owner	  	6
	Security Register	  	7, 26
	Security Registrar	  	7, 26
	Senior Indebtedness	  	7
	Special Record Date	  	7
	Stated Maturity	  	7
	TARP	  	7
	Transfer Certification	  	8, 27
	Transfer Opinion	  	8, 27
	Trust Indenture Act	  	8
	Trust Preferred Securities	  	8
	Trust Preferred Security Certificate	  	8
	Trust Securities	  	8
	Trustee	  	1, 8, 18
	U.S. Government	  	8
	U.S. Government Obligations	  	8, 35

  

 - vi - 

 GMAC Inc. 
 Reconciliation and tie between Trust Indenture Act and 
 Indenture, dated as of
December 30, 2009 
  

					
	Trust Indenture Act Section	  	Indenture Section
	§ 310 (b)	 		  	6.8, 6.10(d)(1)
	§ 311 (a)	 		  	6.13
	          (b)	 		  	6.13
	§ 312 (b)	 		  	7.2
	          (c)	 		  	7.2
	§ 313 (a)	 		  	7.3
	§ 316 (a)	 		  	1.7(a), 1.7(b)

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

 - vii - 

 INDENTURE, dated as of December 30, 2009, between GMAC INC., a corporation duly
organized and existing under the laws of the State of Delaware (herein called the “Company”), having its principal office at 200 Renaissance Center, P.O. Box 200, Detroit, Michigan 48265-2000, and THE BANK OF NEW YORK MELLON, a New York
banking corporation duly organized and existing under the laws of the State of New York, as Trustee (herein called the “Trustee”). 
 RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured junior subordinated debentures, notes or other evidences of indebtedness (herein called the
“Securities”), to be issued in one or more series as in this Indenture provided. 
 All things necessary to make this
Indenture a valid agreement of the Company, 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 covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of series thereof, as follows: 
 ARTICLE I 
 DEFINITIONS AND OTHER
PROVISIONS OF GENERAL APPLICATION 
  

	Section 1.1	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 have the meanings assigned to them in this Article 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 generally
accepted accounting principles, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles
as are generally accepted at the date of such computation; and 
 (4) 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. 
 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 1.4. 
 “Additional Interest” has the meaning specified in Section 3.10(d). 
 “Administrative Trustees” has the meaning set forth in the Declaration of the applicable GMAC Trust. 
 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly, whether through one or more
intermediaries, Controls, is Controlled by or is under common Control with such Person, excluding any employee benefit plan or related trust; provided that (i) no GMAC Trust to which Securities have been issued shall be deemed to be an
Affiliate of the Company and (ii) the United States Department of the Treasury shall not be deemed to be an Affiliate of the Company for purposes hereof. 
 “Authenticating Agent” means any Person authorized by the Trustee to act on behalf of the Trustee to authenticate Securities. 
 “Board of Directors” means either the board of directors of the Company or any duly authorized committee of that board.

 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company
to have been duly adopted by the Board of Directors or by a duly authorized committee of the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Book Entry Interest” means a beneficial interest in a Global Security, ownership and transfers of which shall be maintained and
made through book entries by the Depositary. 
 “Business Day” means any day except Saturday, Sunday or any other day
on which banking institutions in the State of New York generally are authorized or required by law or other governmental action to close. 
 “Commission” means the 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 instrument 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. 
 “Common Securities” means undivided beneficial common interests in the assets of a GMAC Trust which rank, except upon the occurrence and continuation of an Event of Default, pari passu
with Trust Preferred Securities issued by such GMAC Trust. 
 “Company” means the Person named as the
“Company” in the first paragraph of this instrument until a successor corporation shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation.

 “Company Request” or “Company Order” means a written request or order signed in the name of the Company
by the Chief Executive Officer, the Chairman of the Board, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Assistant Treasurer, or a member of the
Funding

  

 - 2 - 

 
Committee of the Company, and by its General Counsel and Corporate Secretary, or any Assistant Secretary of the Company, and delivered to the Trustee. 
 “Compounded Interest” has the meaning specified in Section 13.1. 
 “Control,” “Controlled” or “Controlling” means, with respect to any Person, any circumstance in which such
Person is directly or indirectly controlled by another Person by virtue of the latter Person having the power to (i) elect, or cause the election of (whether by way of voting capital stock, by contract, trust or otherwise), the majority of the
members of the board of directors or a similar governing body of the first Person, or (ii) direct (whether by way of voting capital stock, by contract, trust or otherwise) the affairs and policies of such Person. 
 “Corporate Trust Office” means the office of the Trustee in the City of New York, New York at which at any particular time its
corporate trust business shall be principally administered, which at the date hereof is located at 101 Barclay Street — 8W, New York, New York 10286 or such other address as the Trustee may designate from time to time by notice to the Holders
and the Company. 
 “Coupon Rate” has the meaning specified in Section 3.10(a). 
 “Covenant Defeasance” has the meaning specified in Section 4.3. 
 “Declaration” means, with respect to a GMAC Trust, the amended and restated declaration of trust or any other governing instrument
of such GMAC Trust. 
 “Default” has the meaning specified in Section 5.7. 
 “Defaulted Interest” has the meaning specified in Section 3.7(b). 
 “Defeasance” has the meaning specified in Section 4.2. 
 “Deferred Interest” has the meaning specified in Section 13.1. 
 “Delaware Trustee” has the meaning specified in the Declaration of the applicable GMAC Trust. 
 “Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 3.1. 
 “Direct Action” has the meaning specified in Section 15.1. 
 “Dissolution Event” means, with respect to a GMAC Trust, that as a result of the occurrence and continuation of an event set forth in the Declaration of that GMAC Trust, such GMAC Trust is to be dissolved in accordance with its
Declaration. 
 “Distributions” on Trust Securities of a GMAC Trust has the meaning set forth in the Declaration of
such GMAC Trust. 
  

 - 3 - 

 “Event of Default” has the meaning specified in Section 5.1. 
 “Exchange Act” means the Securities Exchange Act of 1934 as amended from time to time, and any successor legislation. 

“Extended Interest Payment Period” has the meaning specified in Section 13.1. 
 “Federal Reserve” means either or both of the Board of Governors of the Federal Reserve System and the Federal Reserve Bank of
Chicago, or its successor as the Company’s primary federal banking regulator. 
 “Floating or Adjustable Rate
Provision” means a formula or provision, specified in a Board Resolution or an indenture supplemental hereto, providing for the determination, whether pursuant to objective factors or pursuant to the sole discretion of any Person (including the
Company), and periodic adjustment of the interest rate per annum borne by a Floating or Adjustable Rate Security. 
 “Floating or Adjustable Rate Security” means any Security which provides for interest to be payable thereon at a rate per annum that may vary from time to time over the term thereof in accordance with a Floating or Adjustable Rate
Provision. 
 “Global Security” means a Security that evidences all or part of the Securities of any series and is
authenticated and delivered to, and registered in the name of, the Depositary for such Securities or a nominee thereof. 
 “GMAC Trust” means GMAC Capital Trust I, a Delaware statutory trust, or any similar trust created for the purpose of issuing Trust Preferred Securities in connection with the issuance of Securities under this Indenture.

 “Holder” means a Person in whose name a Security is registered in the Security Register. 
 “Indenture” means this instrument as originally executed or 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 and shall include the terms of particular series of Securities established as contemplated by Section 3.1. 
 “Institutional Trustee” has the meaning set forth in the Declaration of the applicable GMAC Trust. 
 “Interest Payment Date,” when used with respect to any Security, means the Stated Maturity of an installment of interest on such
Security. 
 “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. 
 “Non Book-Entry Trust Preferred Securities” has the meaning specified in Section 3.12(a)(ii). 
  

 - 4 - 

 “Officers’ Certificate” means a certificate signed by the Chief Executive
Officer, the Chairman of the Board, the Chief Administrative Officer, any Vice Chairman, the Chief Financial Officer, the Controller, the Chief Accounting Officer, the Treasurer, any Assistant Treasurer, or a member of the Funding Committee of the
Company, and by its General Counsel and Corporate Secretary, or any Assistant Secretary of the Company, and delivered to the Trustee. The officer signing an Officers’ Certificate pursuant to Section 10.4 shall be the principal executive,
financial or accounting officer of the Issuer or the Company, as the case may be. 
 “Opinion of Counsel” means a
written opinion of counsel, who may be counsel for the Company. 
 “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 or delivered to the Trustee for cancellation; 
 (ii) Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and
segregated in trust by the Company (if the Company 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 satisfactory to the Trustee has been made; and 
 (iii) Securities which have been paid pursuant
to Section 3.6 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to Section 3.6, other than any such Securities in respect of which there shall have been presented to the Trustee proof
satisfactory to it that such Securities are held by a protected purchaser in whose hands such Securities are valid obligations of the Company; 
 provided that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Securities owned by the
Company or any other obligor upon the Securities or (subject to Section 1.7) any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding; provided, however, that, in determining
whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded
and provided, further, that Securities held by the Institutional Trustee for the benefit of the holders of the Trust Securities shall not 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 Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor. 
 “Paying Agent” means any Person authorized by the Company to pay the principal of
(or premium, if any) or interest on any Securities on behalf of the Company. 
  

 - 5 - 

 “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. 
 “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) and interest on the Securities of that series
are payable as specified as contemplated by Section 3.1. 
 “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 3.6 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. 
 “Private Placement Legend” has the meaning set forth in Section 2.2. 
 “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. 
 “Redemption Option Date” means, with respect to a series of Securities, the date specified as contemplated by Section 3.1 on or after which, from time to time, the Company, at its option,
may redeem such series of Securities in whole or in part. 
 “Redemption Price,” when used with respect to any
Security to be redeemed, means such percentage of the principal amount of such Security that is specified pursuant to Section 3.1 plus any accrued and unpaid interest thereon to the date of redemption. 
 “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities of any series means the date
specified as such pursuant to Section 3.1. 
 “Responsible Officer” means, with respect to the Trustee, any
officer within the Corporate Trust Office of the Trustee having direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred
because of that officer’s knowledge of and familiarity with the particular subject. 
 “Securities” has the
meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended from time to time, or any successor legislation. 
 “Security Beneficial Owner” means, with respect to a Book Entry Interest, a person who is the beneficial owner of such Book Entry Interest, as reflected on the books of the Depositary, or on the
books of a Person maintaining an account with such Depositary (directly as a Depositary participant or as an indirect participant, in each case in accordance with the rules of the Depositary). 
  

 - 6 - 

 “Security Register” and “Security Registrar” have the respective
meanings specified in Section 3.5(a). 
 “Senior Indebtedness” means with respect to the Company the principal,
premium, if any, and interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company, whether or not such claim for post-petition interest is allowed in such proceeding) on and
of all indebtedness and obligations in respect of (i) (A) indebtedness of the Company for money borrowed and (B) indebtedness evidenced by securities, notes, debentures, bonds or other similar instruments issued by the Company,
including, without limitation, all indebtedness (whether now or hereafter outstanding) issued under the subordinated debt indenture, dated as of December 31, 2008, between the Company and The Bank of New York Mellon, as trustee, as the same may
be amended, modified or supplemented from time to time; (ii) all capital lease obligations of the Company; (iii) all obligations of the Company issued or assumed as the deferred purchase price of property, all conditional sale obligations
of the Company and all obligations of the Company under any conditional sale or title retention agreement; (iv) all obligations, contingent or otherwise, of the Company in respect of any letters of credit, banker’s acceptance, security
purchase facilities and similar credit transactions; (v) all obligations of the Company in respect of interest rate swap, cap or other agreements, interest rate future or options contracts, currency swap agreements, currency future or option
contracts and other similar agreements; (vi) all obligations of the type referred to in clauses (i) through (v) of other Persons for the payment of which the Company is responsible or liable as obligor, guarantor or otherwise
(“guarantees”); and (vii) all obligations of the type referred to in clauses (i) through (vi) of other Persons secured by any lien on any property or asset of the Company (whether or not such obligation is assumed by the
Company), except that Senior Indebtedness does not include obligations in respect of (1) any indebtedness issued under this Indenture; (2) any guarantee entered into by the Company in respect of any preferred securities, capital securities
or preference stock of a GMAC Trust; (3) any accounts payable or other liabilities to trade creditors (including guarantees thereof or instruments evidencing such liabilities) or (4) any indebtedness or any guarantee that is by its terms
subordinated to, or ranks equally with, the Securities and the issuance of which, in the case of this clause (4) only, (x) has received the concurrence or approval of the Federal Reserve or its staff or (y) does not at the time of
issuance prevent the Securities from qualifying for tier 1 capital treatment (irrespective of any limits on the amount of the Company’s tier 1 capital) under applicable capital adequacy guidelines, regulations, policies, published
interpretations, or any applicable concurrence or approval of the Federal Reserve or its staff. 
 “Special Event,”
with respect to a GMAC Trust, has the meaning specified in the Declaration of such GMAC Trust. 
 “Special Record
Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.7. 
 “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. 
 “TARP” means the Troubled Asset Relief Program established
under Section 101 of the Emergency Economic Stabilization Act of 2008. 
  

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 “Transfer Certification” has the meaning set forth in Section 3.5(h).

 “Transfer Opinion” has the meaning set forth in Section 3.5(h). 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as in force at the date as of which this instrument was executed,
except as provided in Section 9.5. 
 “Trust Preferred Securities” means undivided beneficial preferred interests
in the assets of a GMAC Trust which rank, except upon the occurrence and continuation of an Event of Default, pari passu with Common Securities issued by such GMAC Trust. 
 “Trust Preferred Security Certificate” has the meaning specified in the Declaration of the applicable GMAC Trust. 
 “Trust Securities” means Common Securities and Trust Preferred Securities of any GMAC Trust. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee
shall have become such pursuant to the applicable provisions 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 the Trustee with respect to Securities of that series. 
 “U.S. Government” means any of (i) the federal government of the United States of America, (ii) any instrumentality or agency of the federal government of the United States of America
and (iii) any Person wholly-owned by, or the sole beneficiary of which is, the federal government of the United States of America or any instrumentality or agency thereof. 
 “U.S. Government Obligations” has the meaning specified in Section 4.4. 
  

	Section 1.2	Compliance Certificates and Opinions. 

 Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officers’ 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, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate
or opinion need be furnished. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than the Officers’ Certificate required by Section 10.4) 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; 
  

 - 8 - 

 (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 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. 
  

	Section 1.3	Form of Documents Delivered to Trustee. 

 (a) 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 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. 
 (b) Any certificate or opinion of an
officer of the Company 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 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 the Company stating that the information with respect to such factual matters is in the possession of the Company, 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. 
 (c) Where any Person is required to
make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
  

	Section 1.4	Acts of Holders; Record Dates. 

 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given or taken by Holders shall 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 and, where it is hereby expressly required, to the Company. 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 6.1) conclusive in favor of the Trustee and the Company, if made
in the manner provided in this Section. 
  

 - 9 - 

 (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 the execution thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his 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 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 or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
  

	Section 1.5	Notices, Etc., to Trustee and Company. 

 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 by any Holder or by the Company shall be sufficient for every purpose hereunder if made,
given, furnished or filed in writing to or with and received by the Trustee at its Corporate Trust Office, Attention: Corporate Trust Administration; provided, however, that such instrument will be considered properly given if
submitted in an electronic format acceptable to the Trustee, or 
 (2) the Company by the Trustee or by any
Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first
paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Company; provided, however, that such instrument will be considered properly given if submitted in an electronic format
acceptable to the Company. 
  

	Section 1.6	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 mailed, first-class postage prepaid, to each Holder affected by such
event, at his address as it appears in the Security Register, 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 given by mail, neither the failure
to mail such notice, nor any defect in any notice so 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

  

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such notice. Waivers of notice by Holders shall be filed with the Trustee, 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 shall constitute a sufficient notification for every purpose hereunder. 
  

	Section 1.7	Trust Indenture Act. 

 (a)
Except as otherwise expressly provided herein, the Trust Indenture Act shall apply as a matter of contract to this Indenture for purposes of interpretation, construction and defining the rights and obligations hereunder, and this Indenture, the
Company and the Trustee shall be deemed for all purposes hereof to be subject to and governed by the Trust Indenture Act to the same extent as would be the case if this Indenture were qualified under that Act on the date of this Indenture;
provided, however, that Securities held by the U.S. Government shall not be disregarded under the terms of the final paragraph of Section 316(a) of the Trust Indenture Act. 
 (b) Upon and following qualification of this Indenture as an indenture under the Trust Indenture Act, this Indenture shall be subject to the
provisions of the Trust Indenture Act that are required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions, subject to any applicable exemptive order issued by the Commission, including any such order
addressing the final paragraph of Section 316(a) of the Trust Indenture Act. 
  

	Section 1.8	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 1.9	Successors and Assigns. 

 (a) Neither this Indenture nor any right, remedy, obligation nor liability arising hereunder or by reason hereof shall be assignable by any party hereto without the prior written consent of the other party, and any attempt to assign any
right, remedy, obligation or liability hereunder without such consent shall be void, except in connection with a transaction involving the Company that is permitted under Article VIII and pursuant to which the successor or assignee agrees in
writing to perform the Company’s obligations hereunder. 
 (b) This Indenture shall be binding upon and shall inure to the
benefit of any successor or permitted assign of the Company and the Trustee. 
  

	Section 1.10	Separability Clause. 

 In
case any provision in this Indenture or in the Securities 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, and there shall be
deemed substituted for the provision at issue a valid, legal and enforceable provision as similar as possible to the provision at issue. 
  

 - 11 - 

	Section 1.11	Benefits of Indenture. 

 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, the holders of Senior Indebtedness, the Holders, and, to the extent expressly
provided in Section 5.2, 5.6, 9.2 and 15.1, the holders of the Trust Preferred Securities or Trust Securities, as applicable, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
  

	Section 1.12	Governing Law; Submission to Jurisdiction. 

 This Indenture and the Securities shall be governed by, and construed and interpreted in accordance with the laws of the State of New York, and all rights and remedies shall be governed by such laws
without regard for the principles of its conflict of laws. Each of the parties hereto agrees (a) to submit to the exclusive jurisdiction and venue of the United States District Court for the Southern District of New York and the United States
Court of Federal Claims for any and all civil actions, suits or proceedings arising out of or relating to this Indenture or the transactions contemplated hereby or thereby, and (b) that notice may be served upon (i) the Company at the
address and in the manner set forth for notices to the Company in Section 1.15 and (ii) the United States Department of the Treasury in accordance with federal law. To the extent permitted by applicable law, each of the parties hereto
hereby unconditionally waives trial by jury in any civil legal action or proceeding relating to this Indenture or the transactions contemplated hereby or thereby. 
  

	Section 1.13	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) payment of interest or
principal (and premium, 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, except that, if such Business Day is in the next
succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. 
  

	Section 1.14	Tax Characterization. 

 The Company, the Trustee and each Holder of a Security (by acceptance thereof) agrees to treat the Securities as debt instruments for United States federal, state and local income and franchise tax purposes and agrees not to take any
contrary position before any taxing authority or on any tax return unless otherwise required by law. 
  

	Section 1.15	Notices. 

 Any notice,
request, instruction or other document to be given hereunder by any party to the other will be in writing and will be deemed to have been duly given (a) on the date of delivery if delivered personally, or by facsimile, upon confirmation of
receipt, or (b) on the

  

 - 12 - 

 
second Business Day following the date of dispatch if delivered by a recognized next day courier service. All notices shall be delivered, telecopied or sent by a recognized next day courier
service, as set forth below, or pursuant to such other instructions as may be designated by the Trustee, the Company or the Holders: 
 (a) If given to the Trustee, at the Trustee’s mailing address set forth below (or such other address as the Trustee may give notice of to the Holders and the Company): 
 The Bank of New York Mellon 
 101 Barclay Street – 8W 
 New York, New York 10286 

Attention: Corporate Trust Administration 
 (b) If given to the Company, at the Company’s mailing address set forth below (or such other address as the Company may give notice of to the Holders and the Trustee): 
 GMAC Inc. 
 200 Renaissance Center 
 P.O. Box 200 
 Detroit, Michigan 48265-2000 
 Attention: General Counsel 
 (c) If given to any Holder, at the address set forth
on the books and records of the Company. 
 ARTICLE II 
 SECURITY FORMS 
  

	Section 2.1	Forms Generally. 

 The
Securities of each series shall be in substantially the form set forth in this Article, or in such other form as shall be established by or pursuant to 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 Depositary therefor or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of such Securities. If the form of
Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or
prior to the delivery of the Company Order contemplated by Section 3.3 for the authentication and delivery of such Securities. 
 The Trustee’s certificates of authentication shall be in substantially the form set forth in this Article. 
 The
definitive Securities may be produced in any manner as determined by the officers executing such Securities, as evidenced by their execution of such Securities. 
  

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	Section 2.2	Form of Face of Security. 

 [If the Security is to be a Global Security, insert: This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of a Depositary or a nominee of a Depositary. This
Security is exchangeable for Securities registered in the name of a person other than the Depositary or its nominee only in the limited circumstances described in the Indenture, and no transfer of this Security (other than a transfer of this
Security 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) may be registered except in limited circumstances. 
 Unless this Security is presented by an authorized representative of The Depository Trust Company (55 Water Street, New York, New York) to
the issuer or its agent for registration of transfer, exchange or payment, and any Security issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust Company and
any payment hereon is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein.] 
 [If the Security is issued pursuant to an exemption from registration under the Securities Act, insert a legend substantially to the
following effect (the “Private Placement Legend”), unless the Company shall determine, in accordance with applicable law, that such legend is inapplicable. If a Security that includes such legend (i) becomes registered under the
Securities Act or (ii) is eligible to be transferred without restriction in accordance with Rule 144 or another exemption from registration under the Securities Act (other than Rule 144A), it shall be exchanged upon surrender in accordance with
Section 3.5 at the option of the Holder for a Security that does not include such legend:  
 THE SECURITIES
REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT WHILE A
REGISTRATION STATEMENT RELATING THERETO IS IN EFFECT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR SUCH LAWS. EACH PURCHASER OF THE SECURITIES REPRESENTED BY THIS INSTRUMENT IS
NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. ANY TRANSFEREE OF THE SECURITIES REPRESENTED BY THIS INSTRUMENT BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT IT IS
(X) A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (Y) AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a) (1), (2), (3) OR (7) OF RULE
501 UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT OFFER, SELL OR OTHERWISE TRANSFER THE SECURITIES REPRESENTED BY THIS INSTRUMENT EXCEPT (A) PURSUANT TO A REGISTRATION STATEMENT WHICH IS THEN EFFECTIVE UNDER THE SECURITIES ACT,
(B) FOR SO LONG AS THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT

  

 - 14 - 

 
REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) TO THE ISSUER OR (D) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
(3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.] 
 ANY PURCHASER OR HOLDER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED BY ITS PURCHASE AND HOLDING THEREOF THAT EITHER (I) NO PORTION OF THE ASSETS USED BY
IT TO ACQUIRE AND HOLD THE SECURITY CONSTITUTES ASSETS OF ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO SECTION 406 OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN, ACCOUNT OR OTHER
ARRANGEMENT SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR
THE CODE (COLLECTIVELY, “SIMILAR LAWS”), OR ANY ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH EMPLOYEE BENEFIT PLAN OR OTHER PLAN, ACCOUNT OR ARRANGEMENT OR (II) THE PURCHASE AND HOLDING OF
THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY APPLICABLE SIMILAR LAW. 
 [If the security is issued with original issue discount, insert: THIS SECURITY WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”), FOR PURPOSES OF SECTIONS 1272, 1273, AND 1275 OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED. GMAC, INC. (THE “COMPANY”) WILL, BEGINNING NO LATER THAN TEN (10) DAYS AFTER THE ISSUE DATE, PROMPTLY PROVIDE TO HOLDERS OF SECURITIES, UPON WRITTEN REQUEST, THE ISSUE PRICE, THE AMOUNT OF
OID, THE ISSUE DATE AND THE YIELD TO MATURITY WITH RESPECT TO THE SECURITIES. ANY SUCH WRITTEN REQUEST SHOULD BE SENT TO THE COMPANY AT GMAC INC., 200 RENAISSANCE CENTER, P.O. BOX 200, DETROIT, MICHIGAN 48265-2000, ATTENTION: CHIEF
FINANCIAL OFFICER.] 
 No.              
 GMAC INC. 
 [Insert title of series of Security] 
 GMAC INC., a Delaware corporation (the “Company,” which term
includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to                     
or registered assigns, the principal sum of                     

  

 - 15 - 

 
dollars ($            ) on
                    ,     , and to pay interest on said principal sum from,
            , or from the most recent interest payment date (each such date, an “Interest Payment Date”) to which interest has been paid or duly provided for, [quarterly]
[(subject to deferral as set forth herein)] in arrears on                     ,
                    ,                      and
                    ] of each year commencing [
                    ,     ], at [If the Security is to bear interest at a fixed rate, insert -a rate of
    % per annum,] [If the Security is a Floating or Adjustable Rate Security, insert a rate of     % per annum [computed-determined] in accordance with the [insert defined name of Floating or Adjustable
Rate Provision] set forth below] until the principal hereof shall have become due and payable, and on any overdue principal and premium, if any, and (without duplication and to the extent that payment of such interest is enforceable under applicable
law) on any overdue installment of interest at the same rate per annum compounded [quarterly]. The amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year of twelve 30-day months, and for any period
shorter than a full quarterly period for which interest is payable, interest will be computed on the basis of the actual number of days elapsed in a partial month in such period. In the event that any date on which interest is payable on this
Security is not a Business Day, then payment of interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day
is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. The interest installment so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities, as defined in said Indenture) is registered at the close of business on the
regular record date for such interest installment, which shall be the close of business on the Business Day next preceding such Interest Payment Date, [if pursuant to the provisions of the Indenture the Securities are no longer represented by a
Global Security: which shall be the close of business on the      Business Day next preceding such Interest Payment Date or such other record date fixed by the Administrative Trustee that is not more than 60 nor less than 10
days prior to such Interest Payment Date.] Any such interest installment not punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders on such regular record date and may 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 to be fixed by the Trustee for the payment of such defaulted interest, notice whereof shall be given to the registered Holders of
this series of Securities not less than 10 days prior to such special record date, or may 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 the Indenture. Payments on this Global Security will be made to the Depository Trust Company, or to a successor Depositary. [If pursuant to the
provisions of the Indenture the Securities are no longer represented by a Global Security: The principal of (and premium, if any) and the interest on this Security shall be payable at the office or agency of the Trustee maintained for that
purpose in any coin or currency of the United States of America that at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Company
by check mailed to the registered Holder at such address as shall appear in the Security Register. Notwithstanding the foregoing, so long as the Holder of this Security is the Institutional Trustee of a GMAC Trust, the payment of the principal of
(and premium, if any) and interest on this Security will be made at such place and to such account as may be designated by such Institutional Trustee.] 
  

 - 16 - 

 This Security is not a deposit or savings account. This Security is not insured by the
Federal Deposit Insurance Corporation or any other governmental agency or instrumentality. 
 [At this point in the
Security Form of any series of Floating or Adjustable Rate Securities, the text of the Floating or Adjustable Rate Provision relating thereto should be inserted.] 
 The indebtedness evidenced by this Security is, to the extent provided in the Indenture, subordinate and junior in right of payment to the prior payment in full of all Senior Indebtedness of the Company,
and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the same, (a) agrees to and shall be bound by, such provisions, (b) authorizes and directs the Trustee
on his or her behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination so provided and (c) appoints the Trustee his or her attorney-in-fact for any and all such purposes. Each Holder hereof,
by his or her acceptance hereof, hereby waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness of the Company, whether now outstanding or hereafter incurred,
and waives reliance by each such holder upon said provisions. 
 This Security shall not be entitled to any benefit under the
Indenture hereinafter referred to, be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. 
 The provisions of this Security are continued on the reverse side hereof and such continued provisions shall for all purposes have the same
effect as though fully set forth at this place. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be executed.

 Dated:                     

  

			
	GMAC INC.
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

  

 - 17 - 

	Section 2.3	Form of Reverse of Security. 

 This Security is one of a duly authorized issue of securities of the Company (herein sometimes referred to as the “Securities”), specified in the Indenture, all issued or to be issued in one or more series under and pursuant to an
Indenture dated as of December 30, 2009 (the “Indenture”), duly executed and delivered between the Company and The Bank of New York Mellon, as trustee (the “Trustee”), to which Indenture and all indentures supplemental
thereto reference is hereby made for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Securities. By the terms of the Indenture, the
Securities are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Indenture. This series of Securities is limited in aggregate principal amount to
$            . 
 Because of the occurrence and continuation of a
Special Event, in certain circumstances, this Security may become due and payable at [specify redemption prices] % of the principal amount thereof, together with any interest accrued thereon (the “Redemption Price”). The Redemption
Price shall be paid prior to 12:00 noon, New York City time, on the date of such redemption or at such earlier time as the Company determines. The Company shall have the right to redeem this Security at the option of the Company, [without premium or
penalty,] in whole or in part at any time on or after [                    ,     ] (an “Optional Redemption”), or at
any time in certain circumstances upon the occurrence of a Special Event at a redemption price equal to [specify redemption prices] % of the principal amount thereof, plus any accrued but unpaid interest to the date of such redemption (the
“Optional Redemption Price”). Any redemption pursuant to this paragraph will be made upon not less than 30 days nor more than 60 days notice, at the Optional Redemption Price. If the Securities of this series are only partially redeemed by
the Company pursuant to an Optional Redemption, such Securities will be redeemed pro rata or by lot or by any other method utilized by the Trustee; provided that if, at the time of redemption, the Securities of this series are
registered as a Global Security, the Depositary shall determine the principal amount of such Securities held by each Security Beneficial Owner to be redeemed in accordance with its procedures. 
 Any redemption of the Securities of this series, in whole or in part, prior to the stated maturity date is subject to the prior concurrence
or approval of the Federal Reserve or the staff thereof, (i) if such concurrence or approval is then required in order for securities such as the Securities of this series to qualify as tier 1 capital of a bank holding company under applicable
capital adequacy guidelines, regulations, policies, or published interpretations of the Federal Reserve, or (ii) if the Federal Reserve or its staff has informed the Company that it must obtain such approval before redeeming the Securities.

 [The Securities of this series are subject to redemption upon not less than 30 days’ nor, more than 60 days’ notice
by mail, (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 of             , (2) at any time [on or after
                    ,     , as a whole or in part, at the election of the Company, 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                      of the years indicated, 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 interest to the Redemption Date, but

  

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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.] 
 [Notwithstanding
the foregoing, the Company 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 monies borrowed having an interest cost to the Company (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 not more than $             aggregate principal amount of Securities of this series. Securities of this series acquired or redeemed by the Company otherwise than through
[mandatory] sinking fund payments may be credited against subsequent [mandatory] sinking fund payments otherwise required to be made in the [inverse] order in which they become due.] 
 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. 
 In case an Event of Default, as defined in the
Indenture, with respect to the Securities of this series shall have occurred and be continuing, the principal of all the Securities of this series may be declared, and upon such declaration shall become, due and payable, in the manner, with the
effect and subject to the conditions provided in the Indenture. 
 The Indenture contains provisions permitting the Company and
the Trustee, with the consent of the Holders of not less than a majority in aggregate principal amount of the Securities of each series affected at the time Outstanding, as defined in the Indenture, to execute supplemental indentures for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the Securities of such series under the
Indenture; provided, however, that no such supplemental indenture shall modify certain provisions of the Indenture, as set forth in the Indenture, without the consent of the Holders of each Security then outstanding and affected
thereby including, without limitation, to: (i) extend the fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium
payable upon the redemption thereof, 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 modify the provisions of the Indenture with respect to the subordination of the Securities in a manner adverse to the Holders, or
(ii) reduce the aforesaid percentage of Securities, the Holders of which are required to consent to any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of the
Indenture or certain defaults thereunder and their consequences) provided for in the Indenture. The Indenture also contains provisions permitting

  

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the Holders of a majority in aggregate principal amount of the Securities of any series at the time outstanding affected thereby, on behalf of all of the Holders of the Securities of such series,
to waive any past default in the performance of any of the covenants contained in the Indenture, or established pursuant to the Indenture with respect to such series, and its consequences, except a default in the payment of the principal of or
premium, if any, or interest on any of the Securities of such series. Any such consent or waiver by the registered Holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all
future Holders and owners of this Security and of any Security issued in exchange herefor or in place hereof (whether by registration of transfer or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon this
Security. In determining whether the Holders of the requisite principal amount of Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver under the Indenture or hereunder, Securities owned by the
U.S. Government shall not be deemed to be Securities owned by an Affiliate of the Company. 
 No reference herein to the
Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and premium, if any, and interest on this Security at the time and
place and at the rate and in the money herein prescribed. 
 So long as no Event of Default shall have occurred and be
continuing, the Company shall have the right at any time during the term of the Securities of this series and from time to time to extend the interest payment period of such Securities for up to 20 consecutive quarters (an “Extended Interest
Payment Period”), at the end of which period the Company shall pay all interest then accrued and unpaid (together with interest thereon at the rate specified for the Securities of this series to the extent that payment of such interest is
enforceable under applicable law); provided, that no such Extended Interest Payment Period shall extend beyond the maturity of such Securities; and provided further that during any such Extended Interest Payment Period (a) the
Company and any subsidiary of the Company (other than a subsidiary of the Company that is a depository institution, or a subsidiary thereof) shall not declare or pay any dividend on, make any distributions with respect to, or redeem, purchase,
acquire or make a liquidation payment with respect to, any of the Company’s capital stock or make any guarantee payment with respect thereto (other than (i) redemptions, purchases or other acquisitions of shares of capital stock of the
Company in connection with the administration of any employee benefit plan in the ordinary course of business and consistent with past practice, (ii) the acquisition by the Company or any of its subsidiaries of record ownership in capital stock
of the Company for the beneficial ownership of any other persons (other than the Company or any of its subsidiaries), including trustees or custodians, (iii) as a result of an exchange or conversion of any class or series of the Company’s
capital stock for any other class or series of the Company’s capital stock, in each case, solely to the extent required pursuant to binding contractual agreements entered into prior to or on the original issue date of the Securities of this
series or any subsequent agreement for the accelerated exercise, settlement or exchange thereof for capital stock of the Company, (iv) distributions by or among any wholly-owned subsidiary of the Company, (v) redemptions of securities held
by the Company or any wholly-owned subsidiary of the Company, and (vi) unpaid tax distributions to holders of membership interests of GMAC LLC pursuant to Section 4(b) of GMAC LLC’s Plan of Conversion, dated June 30, 2009), and
(b) the Company and any subsidiary of the Company (other than a subsidiary of the Company that is a depository

  

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institution, or a subsidiary thereof) shall not make any payment of interest on or principal of (or premium, if any, on), or repay, repurchase or redeem, any debt securities or guarantees issued
by the Company which rank pari passu with or junior to the Securities (“Junior Subordinated Indebtedness”) (other than (i) redemptions, purchases or other acquisitions of Junior Subordinated Indebtedness in connection with the
administration of any employee benefit plan in the ordinary course of business and consistent with past practice, (ii) the acquisition by the Company or any of its subsidiaries of record ownership in Junior Subordinated Indebtedness for the
beneficial ownership of any other persons (other than the Company or any of its subsidiaries), including trustees or custodians, (iii) as a result of an exchange or conversion of any class or series of Junior Subordinated Indebtedness for any
other class or series of Junior Subordinated Indebtedness, (iv) redemptions of securities held by the Company or any wholly-owned subsidiary of the Company and (v) any payment of interest on Junior Subordinated Indebtedness paid pro
rata with interest paid on the Securities of this series such that the respective amounts of such payments made shall bear the same ratio to each other as all accrued but unpaid interest per like-amount of such Securities and all Junior
Subordinated Indebtedness bear to each other). The foregoing restrictions, however, will not apply to (i) any stock dividends paid by the Company where the dividend stock is the same stock as that on which the dividend is being paid or
(ii) dividends or distributions by or other transactions solely among the Company and any wholly-owned subsidiary of the Company or solely among wholly-owned subsidiaries of the Company. For the avoidance of doubt, the Company shall have the
right to make partial payments of interest on any Interest Payment Date during an Extended Interest Payment Period. Before the termination of any such Extended Interest Payment Period, the Company may further extend such Extended Interest Payment
Period, provided that such Extended Interest Payment Period together with all such further extensions thereof shall not exceed 20 consecutive quarters and shall not extend beyond the maturity of the Securities of this series. At the
termination of any such Extended Interest Payment Period and upon the payment of all accrued and unpaid interest and any additional amounts then due, the Company may commence a new Extended Interest Payment Period. 
 As provided in the Indenture and subject to certain limitations therein set forth, this Security is transferable by the registered Holder
hereof on the Security Register of the Company, upon surrender of this Security for registration of transfer at the office or agency of the Trustee in the City and State of New York accompanied by a written instrument or instruments of transfer in
form satisfactory to the Company or the Trustee duly executed by the registered Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of authorized denominations and for the same aggregate principal
amount and series will be issued to the designated transferee or transferees. No service charge will be made for any such transfer, but the Company or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge
payable in relation thereto. 
 Prior to due presentment for registration of transfer of this Security, the Company, the
Trustee, any paying agent and the Security Registrar may deem and treat the registered holder hereof as the absolute owner hereof (whether or not this Security shall be overdue and notwithstanding any notice of ownership or writing hereon made by
anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal hereof and premium, if any, and interest due hereon and for all other purposes, and neither the Company nor the Trustee nor any paying
agent nor any Security Registrar shall be affected by any notice to the contrary. 
  

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 No recourse shall be had for the payment of the principal of or the interest on this
Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor
or 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
issuance hereof, expressly waived and released. 
 [The Securities of this series are issuable only in registered form without
coupons in denominations of $1,000 and any integral multiple thereof.] [This Global Security is exchangeable for Securities of this series in definitive form only under certain limited circumstances set forth in the Indenture. Securities of this
series so issued are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple thereof.] As provided in the Indenture and subject to certain limitations [herein and] therein set forth, Securities of this
series [so issued] 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. 
 All terms used in this Security that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

	Section 2.4	Form of Trustee’s Certificate of Authentication. 

 CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series of
Securities described in the within-mentioned Indenture. 
  

			
	 THE BANK OF NEW YORK MELLON,
as Trustee

		
	By:	 	  

		 	Authorized Signatory

 Dated:
                     
 ARTICLE III 
 THE SECURITIES 
  

	Section 3.1	Amount Unlimited; Issuable in Series. 

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

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 (b) The Securities may be issued in one or more series. There shall be established in or
pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 
 (1) the title of the Securities of the series (which shall distinguish the Securities of the series from all Securities of
any other series); 
 (2) the date or dates on which the principal of the Securities of the series is payable,
and, if applicable to the series, the terms of any sinking fund obligations with respect to such series; 
 (3)
the rate or rates at which the Securities of the series shall bear interest or the Floating or Adjustable Rate Provision, pursuant to which such rates shall be determined, the date or dates from which any such interest shall accrue, the Interest
Payment Dates on which any such interest shall be payable and the Regular Record Date for the interest payable on any Interest Payment Date (if such Interest Payment Dates or Regular Record Dates differ from those provided herein); 
 (4) the place or places where the principal of (and any premium, if any) and interest on Securities of the series shall be
payable; 
 (5) in addition to the redemption rights provided herein (including the Redemption Option Date for
the series), the period or periods within which and the price or prices at which any Securities of the series may be redeemed, in whole or in part, at the option of the Company; 
 (6) if other than denominations of $1,000 and any integral multiple thereof, the denominations in which Securities of the
series shall be issuable; 
 (7) any other defaults applicable with respect to the Securities of the series in
addition to those provided in Section 5.7(a) through (f); 
 (8) any other covenant or warranty included for
the benefit of Securities of the series in addition to (and not inconsistent with) those included in this Indenture for the benefit of Securities of all series, or any other covenant or warranty included for the benefit of Securities of the series
in lieu of any covenant or warranty included in this Indenture for the benefit of Securities of all series, or any provision that any covenant or warranty included in this Indenture for the benefit of Securities of all series shall not be for the
benefit of Securities of the series, or any combination of such covenants, warranties or provisions; 
 (9) the
subordination terms of the Securities of the series; 
 (10) the provisions of this Indenture, if any, that shall
not apply to the series; and 
 (11) any other terms of the series (which additional terms shall not be
inconsistent with the provisions of this Indenture). 
  

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 (c) All Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to such Board Resolution and set forth, or determined in the manner provided, in the Officers’ Certificate referred to above or in any such indenture supplemental hereto.

 (d) If any of the terms of the Securities of a series are established by action taken pursuant to a Board Resolution, a copy
of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the Securities
of such series. 
  

	Section 3.2	Denominations. 

 The
Securities of each series shall be issuable in registered form without coupons and in such denominations as shall be specified as contemplated by Section 3.1. 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 $1,000 and any integral multiple thereof. 
  

	Section 3.3	Execution, Authentication, Delivery and Dating. 

 (a) The Securities shall be executed on behalf of the Company by its Chief Executive Officer, its Chairman of the Board, its Chief Administrative Officer, any Vice Chairman, its Chief Financial Officer,
its Controller, its Chief Accounting Officer, its Treasurer or any Assistant Treasurer, attested by (x) its Corporate Secretary or (y) one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual
or facsimile. 
 (b) Securities bearing the manual or facsimile signatures of individuals who were at any time the proper
officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such
Securities. 
 (c) At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver
Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the 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 as permitted by Sections 2.1 and 3.1, in authenticating such Securities, and accepting the additional
responsibilities under this Indenture in relation to such Securities, the Trustee shall be given, at the time of the initial delivery by the Company of Securities of such series to the Trustee for authentication, and (subject to Section 6.1)
shall be fully protected in relying upon, an Opinion of Counsel stating, 
 (1) if the form of such Securities
has been established by or pursuant to Board Resolution as permitted by Section 2.1, that such form has been established in conformity with the provisions of this Indenture; 
  

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 (2) if the terms of such Securities have been established by or pursuant to
Board Resolution as permitted by Section 3.1, that such terms have been established in conformity with the provisions of this Indenture; and 
 (3) that such Securities, when authenticated and delivered by or on behalf of the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will
constitute valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, reorganization, and other laws of general applicability relating to or affecting the enforcement or
creditors’ rights and to general equity principles. 
 (d) If such form or terms have been so established, the Trustee
shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which
is not reasonably acceptable to the Trustee. 
 (e) Each Security shall be dated the date of its authentication. 
 (f) No Security 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 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 is entitled to the benefits of this Indenture. 
  

	Section 3.4	Temporary Securities. 

 (a) Pending the preparation of definitive Securities of any series, the Company may execute, and upon receipt of a Company Order the Trustee 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 with such appropriate insertions, omissions, substitutions and other variations as the
directors or officers executing such Securities may determine, as evidenced by their execution of such Securities. 
 (b) If
temporary Securities of any series are issued, the Company 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 the office or agency of the Company in a Place of Payment for Securities of that series, without charge to the Holder.
Upon surrender for cancellation of any one or more temporary Securities of any series the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like aggregate principal amount of definitive Securities of the
same series and of like tenor of authorized denominations. 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. 
  

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	Section 3.5	Registration, Registration of Transfer and Exchange. 

 (a) The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office and in any other office or agency of the Company 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 Company shall provide for the registration of Securities, or of Securities of a
particular series, and of transfers of Securities or of Securities of such series. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 

(b) Subject to Section 3.11, upon surrender for registration of transfer of any Security of any series at the office or agency of
the Company in a Place of Payment for Securities of that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of like tenor of the same
series, of any authorized denominations and of a like aggregate principal amount. 
 (c) Subject to Section 3.11, at the
option of the Holder, Securities of any series may be exchanged for other Securities of like tenor 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 Company shall execute, and the Trustee shall authenticate and deliver, the Securities that the Holder making the exchange is entitled to receive. 
 (d) All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 
 (e) Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing. 
 (f) No service charge shall be made for any registration of transfer or exchange of Securities, but the Company or the Trustee may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities. 
 (g) The
Company shall not be required (i) to issue, register the transfer of or exchange any Security 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
such series selected for redemption under Section 11.3 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. 
 (h) Subject to this Section 3.5, Securities shall be freely
transferable, subject to compliance with the Securities Act. Subject to the last sentence of this subsection (h), if a

  

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Security bears a Private Placement Legend, such Security (x) may be transferred to a Person or Persons who take delivery thereof in the form of a Security bearing a Private Placement Legend
only if the Security Registrar receives (A) an appropriately completed certificate of transfer in the form attached hereto as Exhibit A and (B) if applicable, a certificate substantially in the form attached hereto as Exhibit B (each, a
“Transfer Certification”); and (y) may be transferred to a Person or Persons who take delivery thereof in the form of a Security not bearing a Private Placement Legend, or may be exchanged for a Certificate not bearing a Private
Placement Legend, only if the Security Registrar has previously received an opinion of counsel in form reasonably acceptable to the Company to the effect that the Securities of the same series are eligible to be transferred without restriction (a
“Transfer Opinion”). The Trustee and the Security Registrar shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer or exchange imposed under this Indenture or under applicable
law with respect to any transfer or exchange of any interest in any Security (including any transfers between or among Depositary participants, members or beneficial owners in any Global Security) other than to require delivery of such certificates
and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements
hereof. At such time as the Company shall determine, in accordance with applicable law, that the Securities are no longer required to bear the Private Placement Legend, the Company shall deliver to the Trustee a Transfer Opinion, and no Transfer
Certification shall be required as a condition to any subsequent transfer of any Security. 
  

	Section 3.6	Mutilated, Destroyed, Lost and Stolen Securities. 

 (a) If any mutilated Security is surrendered to the Trustee, the Company shall execute and the 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. 
 (b) If there shall be delivered to the
Company and the Trustee (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 Company or the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute and upon its written request the 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 as such destroyed, lost or stolen Security and bearing a number not contemporaneously outstanding. 
 (c) In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its
discretion may, instead of issuing a new Security, pay such Security. 
 (d) Upon the issuance of any new Security under this
Section, the Company 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) connected therewith.

  

 - 27 - 

 (e) Every new Security of any series issued pursuant to this Section in lieu of any
mutilated, destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the mutilated, 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. 
 (f) 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 3.7	Payment of Interest; Interest Rights Preserved. 

 (a) 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. 
 (b) Interest on any Security
of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (other than pursuant to an Extended Interest Payment Period) (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 Company, at its election in each case, as provided in clause (1) or (2) below: 
 (1) The Company 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 Company shall notify the Trustee 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 Company shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the 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 the 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 the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, 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 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). 
  

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 (2) The Company 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 written notice given by the
Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee in its sole discretion. 
 (c) 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. 
 (d) For the purposes of
determining the Holders who are entitled to participate in any distribution on the Securities in respect of which a Regular Record Date or a Special Record Date is not otherwise provided for in this Indenture, or for the purpose of any other action
(unless provided for pursuant to Section 3.1), the Company may from time to time fix a date, not more than 90 days prior to the date of the payment of distribution or other action, as the case may be, as a record date for the determination of
the identity of the Holders of record for such purposes. 
  

	Section 3.8	Persons Deemed Owners. 

 The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name any Security is registered as the owner of such Security for the purpose of receiving payment of principal of (and premium, if any) and
(subject to Section 3.7) interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to
the contrary. 
  

	Section 3.9	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, be delivered to the Trustee and shall be promptly
cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall
be promptly cancelled by the 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. Unless otherwise directed by a Company
Order, delivery of which must be delivered in a timely manner to prevent such disposition, all cancelled Securities held by the Trustee shall be disposed of by it in its customary manner, and the Trustee, upon receipt of a written request of the
Company, shall deliver a certificate of such disposal to the Company. 
  

	Section 3.10	Interest. 

 (a) Each
Security will bear interest at the rate established for the series of Securities of which such Security is a part pursuant to Section 3.1 (the “Coupon Rate”) from and including the original date of issuance of such Security until the
principal thereof becomes due and

  

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payable, and on any overdue principal and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the Coupon Rate, compounded
quarterly, payable (subject to the provisions of Article IV) quarterly in arrears on February 15, May 15, August 15 and November 15 of each year (or in such other periodic installments on such other dates established as
payment dates for the series of Securities of which such Security is a part pursuant to Section 3.1) (each, an “Interest Payment Date”) commencing on the date established for the series of Securities of which such Security is a part
pursuant to Section 3.1, to the Person in whose name such Security or any Predecessor Security is registered, at the close of business on the Regular Record Date for such interest installment, which, in respect of any Securities of which the
Institutional Trustee of any GMAC Trust is the Holder or a Global Security, shall be the close of business on the Business Day next preceding that Interest Payment Date. Notwithstanding the foregoing sentence, if the Trust Preferred Securities of a
GMAC Trust are no longer in book-entry only form or, except if the Securities originally issued to such GMAC Trust are held by the Institutional Trustee of such GMAC Trust, the Securities of any series are not represented by a Global Security, the
Company may select a Regular Record Date for such interest installment on such series of Securities which shall be any date more than 14 days but less than 60 days before an Interest Payment Date. 
 (b) The amount of interest payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and will include
the first day but exclude the last day of such period. Except as provided in the following sentence, the amount of interest payable for any period shorter than a full quarterly period for which interest is computed, will be computed on the basis of
the actual number of days elapsed in a partial month in such period. In the event that any date on which interest is payable on the Securities of any series is not a Business Day, then payment of interest payable on such date will be made on the
next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding
Business Day, in each case with the same force and effect as if made on such date. 
 (c) If the Securities of a series are
established as a series of Floating or Adjustable Rate Securities pursuant to Section 3.1, then this Section 3.10(b) shall not apply and the Floating or Adjustable Rate Provisions, together with any additional terms established in the
applicable Board Resolution or supplemental indenture, shall govern such series. 
 (d) If, at any time while the Institutional
Trustee of a GMAC Trust is the Holder of Securities of any series, such GMAC Trust or such Institutional Trustee is required to pay any taxes, duties, assessments or governmental charges of whatever nature (other than withholding taxes) imposed by
the United States, or any other taxing authority, then, in any case, the Company will pay as additional interest (“Additional Interest”) on the Securities of such series, such additional amounts as shall be required so that the net amounts
received and retained by such GMAC Trust and/or such Institutional Trustee, as the case may be, after paying such taxes, duties, assessments or other governmental charges will be equal to the amounts such GMAC Trust and/or such Institutional
Trustee, as the case may be, would have received had no such taxes, duties, assessments or other government charges been imposed. 
  

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	Section 3.11	Form and Payment. 

 Except
as provided in Section 3.12, the Securities of each series shall be issued in fully registered certificated form without interest coupons. Principal and interest on the Securities issued in certificated form will be payable, the transfer of
such Securities will be registrable, and such Securities will be exchangeable, for Securities of the same series bearing identical terms and provisions at the office or agency of the Trustee; provided, however, that payment of interest
may be made at the option of the Company by check mailed to the Holders of such Securities at such address as shall appear in the Security Register. Notwithstanding the foregoing, so long as the Holder of all Securities of any series is the
Institutional Trustee of any GMAC Trust, the payment of the principal of and interest (including Compounded Interest and Additional Interest, if any) on Securities of such series will be made at such place and to such account as may be designated by
the Institutional Trustee. 
  

	Section 3.12	Global Securities. 

 (a)
In connection with a Dissolution Event with respect to any GMAC Trust, 
 (i) the Securities in non book-entry certificated form
held by such GMAC Trust, or its Institutional Trustee, will be presented to the Trustee by the Institutional Trustee of such GMAC Trust in exchange for a Global Security in an aggregate principal amount equal to the aggregate principal amount of all
outstanding Securities of the series issued to such GMAC Trust, to be registered in the name of the Depositary, or its nominee, and delivered by the Trustee to the Depositary for crediting to the accounts of its participants pursuant to the
instructions of the Administrative Trustees of the relevant GMAC Trust. The Company upon any such presentation shall execute a Global Security in such aggregate principal amount and deliver the same to the Trustee for authentication and delivery in
accordance with this Indenture. Payments on any Securities issued as a Global Security will be made to the Depositary; and 
 (ii) if any Trust Preferred Securities of such GMAC Trust are held in non book-entry certificated form, the Securities in non book-entry certificated form held by such GMAC Trust, or its Institutional Trustee, may be presented to the
Trustee by the Institutional Trustee of such GMAC Trust and any Trust Preferred Security Certificate which represents Trust Preferred Securities of such GMAC Trust other than Trust Preferred Securities held by the Depositary or its nominee
(“Non Book-Entry Trust Preferred Securities”) will be deemed to represent Securities presented to the Trustee by such Institutional Trustee having an aggregate principal amount equal to the aggregate liquidation amount of the Non
Book-Entry Trust Preferred Securities until such Trust Preferred Security Certificates are presented to the Security Registrar for transfer or reissuance at which time such Trust Preferred Security Certificates will be cancelled and a Security,
registered in the name of the holder of the Trust Preferred Security Certificate or the transferee of the holder of such Trust Preferred Security Certificate, as the case may be, with an aggregate principal amount equal to the aggregate liquidation
amount of the Trust Preferred Security Certificate cancelled, will be executed by the Company and delivered to the Trustee for authentication and delivery in accordance with this Indenture. On issue of such Securities, Securities with an equivalent
aggregate principal amount that were presented by the Institutional Trustee to the Trustee will be deemed to have been cancelled. 
  

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 (b) A Global Security may be transferred, in whole but not in part, only to another nominee
of the Depositary, or to a successor Depositary selected or approved by the Company or to a nominee of such successor Depositary. 
 (c) If at any time the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for any series of Securities or if at any time the Depositary for such series shall no longer be registered or in good standing
under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may
be, the Company will execute, and, subject to this Article III, the Trustee, upon written notice from the Company, will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal amount of the Global Security in exchange for such Global Security. In addition, the Company may at any time determine that the Securities of any series shall no longer be
represented by a Global Security, subject to the procedures of the Depositary. In such event the Company will execute and, subject to Section 3.5, the Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the
Company, will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security for such
series in exchange for such Global Security. Upon the exchange of the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security shall be cancelled by the Trustee. Such
Securities in definitive registered form issued in exchange for the Global Security shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or
otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Depositary, for delivery to the Persons in whose names such Securities are so registered. 
  

	Section 3.13	CUSIP Numbers. 

 The
Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; 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 Company will promptly notify the Trustee in writing of any change in the “CUSIP” numbers. 
 ARTICLE IV 
 SATISFACTION AND DISCHARGE; DEFEASANCE 
  

	Section 4.1	Satisfaction and Discharge of Indenture. 

 This Indenture shall upon Company Request cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Securities herein expressly provided for), and the
Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 
  

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 (1) either 
 (A) all Securities theretofore authenticated and delivered (other than (i) Securities which have been mutilated,
destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.6 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter
repaid to the Company or discharged from such trust, as provided in Section 10.3) have been delivered to the Trustee for cancellation; or 
 (B) all such Securities not theretofore delivered to the Trustee 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 satisfactory to the Trustee for the giving of notice
of redemption by the Trustee in the name, and at the expense, of the Company, and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose an
amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any) and interest 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
Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
 (3) the Company has
delivered to the Trustee an Officers’ 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. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.7, the
Company’s obligation to pay the expenses of any GMAC Trust under Section 10.6, and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of the Trustee under
Section 4.2 and the last paragraph of Section 10.3 shall survive. 
  

	Section 4.2	Defeasance and Discharge. 

 The following provisions shall apply to the Securities of each series unless specifically otherwise provided in a Board Resolution, Officers’ Certificate or indenture supplemental hereto provided pursuant to Section 3.1. In
addition to discharge of this Indenture pursuant to Sections 4.1 and 4.3, in the case of any series of Securities with respect to which an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to
the Trustee for cancellation, for principal (and premium, if any) and interest, as certified pursuant to subparagraph (a) of Section 4.4, can be determined at the time of making the deposit referred to

  

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in such subparagraph (a), the Company shall be deemed to have paid and discharged the entire indebtedness on all the Securities of such a series as provided in this Section on and after the date
the conditions set forth in Section 4.4 are satisfied, and the provisions of this Indenture with respect to the Securities of such series shall no longer be in effect (except as to (i) rights of registration of transfer and exchange of
Securities of such series, (ii) substitution of mutilated, defaced, destroyed, lost or stolen Securities of such series, (iii) rights of Holders of Securities of such series to receive, solely from the trust fund described in subparagraph
(a) of Section 4.4, payments of principal thereof and interest, if any, thereon upon the original stated due dates therefor (but not upon acceleration), and remaining rights of the Holders of Securities of such series to receive mandatory
sinking fund payments, if any, (iv) the rights, obligations, duties and immunities of the Trustee hereunder, (v) this Section 4.2, (vi) the rights of the Holders of Securities of such series as beneficiaries hereof with respect
to the property so deposited with the Trustee payable to all or any of them and (vii) the Company’s obligation to pay the expenses of any GMAC Trust under Section 10.6) (hereinafter called “Defeasance”), and the Trustee at
the cost and expense of the Company, shall execute proper instruments acknowledging the same. 
  

	Section 4.3	Covenant Defeasance. 

 In
the case of any series of Securities with respect to which an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any) and
interest, as certified pursuant to subparagraph (a) of Section 4.4 can be determined at the time of making the deposit referred to in such subparagraph (a), (i) the Company shall be released from its obligations under any covenants
specified in or pursuant to this Indenture (except as to (A) rights of registration of transfer and exchange of Securities of such series, (B) substitution of mutilated, defaced, destroyed, lost or stolen Securities of such series,
(C) rights of Holders of Securities of such series to receive, from the Company pursuant to Section 10.1, payments of principal thereof and interest, if any, thereon upon the original stated due dates therefor (but not upon acceleration),
the Holders of Securities of such series to receive mandatory sinking fund payments, if any, (D) the rights, obligations, duties and immunities of the Trustee hereunder, (E) the rights of the Holders of Securities of such series as
beneficiaries hereof with respect to the property so deposited with the Trustee payable to all or any of them and (F) the Company’s obligation to pay the expenses of any GMAC Trust under Section 10.6), and (ii) the occurrence of
any event specified in Sections 5.7(e) (with respect to any of the covenants specified in or pursuant to this Indenture) and 5.7(f) shall be deemed not to be or result in a Default, in each case with respect to the Outstanding Securities of such
series as provided in this Section on and after the date the conditions set forth in Section 4.4 are satisfied (hereinafter called “Covenant Defeasance”), and the Trustee, at the cost and expense of the Company, shall execute proper
instruments acknowledging the same. For this purpose, such Covenant Defeasance means that the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant (to the extent
so specified in the case of Section 5.7(e)), whether directly or indirectly by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other
document, but the remainder of this Indenture and the Securities of such series shall be unaffected thereby. 
  

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	Section 4.4	Conditions to Defeasance or Covenant Defeasance. 

 The following shall be the conditions to application of either Section 4.2 or 4.3 to the Outstanding Securities: 
 (a) with reference to Section 4.2 or 4.3, the Company has irrevocably deposited or caused to be irrevocably deposited with the Trustee as funds in trust, specifically pledged as security for, and
dedicated solely to, the benefit of the Holders of Securities of such series (i) cash in an amount, (ii) direct obligations of the United States of America, backed by its full faith and credit (“U.S. Government Obligations”),
maturing as to principal and interest, if any, at such times and in such amounts as will insure the availability of cash, or (iii) a combination of (i) and (ii), in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, (A) the principal of and interest, if any, on all Securities of such series on each date that such principal or interest, if any, is due
and payable, and (B) any mandatory sinking fund payments on the dates on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such series; 
 (b) in the case of Defeasance under Section 4.2, the Company has delivered to the Trustee an Opinion of Counsel based on the fact that
(x) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (y) since the date hereof, there has been a change in the applicable United States federal income tax law, in either case to the
effect that, and such opinion shall confirm that, the Holders of the Securities of such series will not recognize income, gain or loss for United States federal income tax purposes as a result of such deposit, Defeasance and discharge and will be
subject to United States federal income tax on the same amount and in the same manner and at the same times, as would have been the case if such deposit, Defeasance and discharge had not occurred; 
 (c) in the case of Covenant Defeasance under Section 4.3, the Company has delivered to the Trustee an Opinion of Counsel to the effect
that, and such opinion shall confirm that, the Holders of the Securities of such series will not recognize income, gain or loss for United States federal income tax purposes as a result of such deposit and Covenant Defeasance and will be subject to
United States federal income tax on the same amount and in the same manner and at the same times, as would have been the case if such deposit and Covenant Defeasance had not occurred; 
 (d) such Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any agreement or
instrument to which the Company is a party or by which it is bound; and 
 (e) the Company shall have delivered to the Trustee
an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent contemplated by this provision have been complied with. 
  

	Section 4.5	Application of Trust Money. 

 Subject to the provisions of the last paragraph of Section 10.3, all money and U.S. Government Obligations deposited with the Trustee pursuant to Section 4.4 shall be held in trust,

  

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and such money and all money from such U.S. Government Obligations shall be 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 Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money and U.S. Government
Obligations has been deposited with the Trustee. All money or U.S. Government Obligations deposited with the Trustee under Section 4.1 or Section 4.4 shall not be subject to the claims of the holders of Senior Indebtedness under Article
XIV. 
  

	Section 4.6	Indemnity for U.S. Government Obligations. 

 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 4.4 or the principal
or interest received in respect of such obligations other than any such tax, fee or other charge that by law is for the account of the Holders of Outstanding Securities. 
  

	Section 4.7	Reinstatement. 

 If the
Trustee is unable to apply any money or U.S. Government Obligations in accordance with Section 4.4 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, the Company’s obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to Section 4.4, until such time as the Trustee or Paying
Agent is permitted to apply all such money or U.S. Government Obligations in accordance with Section 4.4; provided that, if the Company has made any payment of principal or interest on the Securities of any series because of the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 
 ARTICLE V 
 REMEDIES 
  

	Section 5.1	Events of Default. 

 The
term “Event of Default” as used in this Indenture with respect to Securities of any series shall mean one of the following described 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): 
 (a) failure to pay in full interest accrued upon any Security of that series upon the conclusion of a period consisting of 20 consecutive quarters, commencing with the earliest quarter for which interest
(including Deferred Interest) has not been paid in full, and continuance of such failure to pay for a period of 30 days; 
 (b)
the entry by a court having jurisdiction in the premises of a decree or order for relief in respect of the Company in an involuntary case under the Federal bankruptcy code, as

  

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now or hereafter constituted, or any other applicable Federal or State bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee,
custodian, trustee or sequestrator (or similar official) of the Company or for substantially all of its property, or ordering the winding-up or liquidation of its affairs and such decree or order shall remain unstayed and in effect for a period of
90 consecutive days; or 
 (c) the commencement by the Company of a voluntary case under the Federal bankruptcy code, as now or
hereafter constituted, or any other applicable Federal or State bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by the Company to the entry of an order for relief in an involuntary case under any such law, or
the consent by the Company to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian or sequestrator (or similar official) of the Company or for substantially all of its property, or the making by it of an
assignment for the benefit of creditors. 
  

	Section 5.2	Acceleration of Maturity. 

 (a) If any one or more of the above described Events of Default shall occur with respect to Securities of any series at the time Outstanding, then, and in each and every such case, during the continuance of such Event of Default, the
Trustee or the Holders of 25% or more in principal amount of the Securities of such series then Outstanding may declare the principal amount of all the Securities of such series then Outstanding, if not then due and payable, to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given by such Holders), and upon any such declaration the principal amount and the accrued interest (including any Additional Interest) on the Securities of such series shall
become and be immediately due and payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding, provided that if, upon an Event of Default, the Trustee or the Holders of 25% or more in
principal amount of the Securities of that series then Outstanding fail to declare the principal amount of all the Securities of such series then Outstanding to be immediately due and payable, the holders of at least 25% in aggregate liquidation
amount of the corresponding series of Trust Preferred Securities then Outstanding shall have such right by a notice in writing to the Company and the Trustee; and upon any such declaration such principal amount of and the accrued interest (including
any Additional Interest) on all the Securities of such series then Outstanding shall become immediately due and payable. Payment of principal and interest (including any Additional Interest) on such Securities shall remain subordinated to the extent
provided in Article XIV notwithstanding that such amount shall become immediately due and payable as herein provided. This provision, however, is subject to the condition that, if at any time after the principal of all the Securities of such series
shall have been so declared to be due and payable, all arrears of interest, if any, upon all the Securities of such series (with interest, to the extent that interest thereon shall be legally enforceable, on any overdue installment of interest at
the rate borne by the Securities of such series) and all amounts owing the Trustee and any predecessor trustee hereunder under Section 6.7 and all other sums payable under this Indenture (except the principal of the Securities of such series
which would not be due and payable were it not for such declaration) shall be paid by the Company, and every other Default under this Indenture, other than the non-payment of the principal of Securities of that series which have become due solely by
such declaration of acceleration, shall have been made good to the reasonable satisfaction of the Trustee or of the Holders of a majority in principal amount of the Securities of such series then Outstanding, or

  

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provision deemed by the Trustee or by such Holders to be adequate therefor shall have been made, then and in every such case the Holders of a majority in principal amount of the Securities of
such series then Outstanding may, on behalf of the Holders of all the Securities of such series, waive the Event of Default by reason of which the principal of the Securities of such series shall have been so declared to be due and payable and may
rescind and annul such declaration and its consequences, provided that, if the Holders of at least a majority in principal amount of the Securities of such series then Outstanding fails to rescind and annul such declaration and its
consequences, the holders of a majority in aggregate liquidation amount of the related series of Trust Preferred Securities then outstanding shall have such right by written notice to the Company and the Trustee, subject to the satisfaction of the
conditions set forth in this sentence; but no such waiver, rescission or annulment shall extend to or affect any subsequent Default or impair any right consequent thereon. Any declaration by the Trustee pursuant to this Section 5.2 shall be by
written notice to the Company, and any declaration or waiver by the Holders of Securities of any series or by the holders of Trust Securities of any series pursuant to this Section 5.2 shall be by written notice to the Company and the Trustee.

  

	Section 5.3	Collection of Indebtedness and Suits for Enforcement by Trustee. 

 (a) If the Company shall fail for a period of 30 days to pay any installment of interest on the Securities of any series that is due and payable or shall fail to pay the principal of and premium, if any,
on any of the Securities of such series when and as the same shall become due and payable, whether at maturity, or by call for redemption (otherwise than pursuant to a sinking fund) by declaration as authorized by this Indenture, or otherwise, or
shall fail for a period of 30 days to make any sinking fund payment as to a series of Securities, then, upon demand of the Trustee, the Company will pay to the Trustee for the benefit of the Holders of Securities of such series then Outstanding the
whole amount which then shall have become due and payable on any such Security, with interest on the overdue principal and premium, if any, and (so far as the same may be legally enforceable) on the overdue installments of interest at the rate borne
by the Securities of such series, and all amounts owing the Trustee and any predecessor trustee hereunder under Section 6.7. 
 (b) In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceeding at law or in equity
for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor upon the Securities of such
series, and collect the moneys adjudged or decreed to be payable out of the property of the Company or any other obligor upon the Securities of such series, wherever situated, in the manner provided by law. Every recovery of judgment in any such
action or other proceeding, subject to the payment to the Trustee of all amounts owing the Trustee and any predecessor trustee hereunder under Section 6.7, shall be for the ratable benefit of the Holders of such series of Securities which shall
be the subject of such action or proceeding. All rights of action upon or under any of the Securities or this Indenture may be enforced by the Trustee without the possession of any of the Securities and without the production of any thereof at any
trial or any proceeding relative thereto. 
 (c) If a Default, of which a Responsible Officer of the Trustee has actual
knowledge, with respect to any series of Securities occurs and is continuing, the Trustee may in its discretion

  

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proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the 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 5.4	Trustee to File Claims As Attorney-In-Fact. 

 The Trustee is hereby appointed, and each and every Holder of the Securities, by receiving and holding the same, shall be conclusively deemed to have appointed the Trustee, the true and lawful
attorney-in-fact of such Holder, with authority to make or file (whether or not the Company shall be in default in respect of the payment of the principal of, or interest on, any of the Securities), in its own name and as trustee of an express trust
or otherwise as it shall deem advisable, in any receivership, insolvency, liquidation, bankruptcy, reorganization, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or to their
respective creditors or property, any and all claims, proofs of claim, proofs of debt, petitions, consents, other papers and documents and amendments of any thereof, as may be necessary or advisable in order to have the claims of the Trustee and any
predecessor trustee hereunder and of the Holders of the Securities allowed in any such proceeding and to collect and receive any moneys or other property payable or deliverable on any such claim, and to execute and deliver any and all other papers
and documents and to do and perform any and all other acts and things, as it may deem necessary or advisable in order to enforce in any such proceeding any of the claims of the Trustee and any predecessor trustee hereunder and of any of such Holders
in respect of any of the Securities; and any receiver, assignee, trustee, custodian or debtor in any such proceeding is hereby authorized, and each and every taker or Holder of the Securities, by receiving and holding the same, shall be conclusively
deemed to have authorized any such receiver, assignee, trustee, custodian or debtor, to make any such payment or delivery only to or on the order of the Trustee, and to pay to the Trustee any amount due it and any predecessor trustee hereunder under
Section 6.7; provided, however, that nothing herein contained shall be deemed to authorize or empower the Trustee to consent to or accept or adopt, on behalf of any Holder of Securities, any plan of reorganization or readjustment
of the Company affecting the Securities or the rights of any Holder thereof, or to authorize or empower the Trustee to vote in respect of the claim of any Holder of any Securities in any such proceeding. 
  

	Section 5.5	Application of Money Collected. 

 Any money or property collected or to be applied by the Trustee with respect to a series of Securities under this Article V shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such
money or property on account of principal or any premium or interest (including Additional Interest), upon presentation of the several 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 to the Trustee and any predecessor trustee hereunder under
Section 6.7. 
 Second: Subject to Article XIV, in case the principal of the Outstanding Securities of such
series shall not have become due and be unpaid, to the payment of

  

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interest on the Securities of such series, in the order of the maturity of the installments of such interest, with interest (to the extent that such interest has been collected by the Trustee)
upon the overdue installments of interest at the rate borne by such Securities, such payments to be made ratably to the Persons entitled thereto. 
 Third: Subject to Article XIV, in case the principal of the Outstanding Securities of such series shall have become due, by declaration or otherwise, to the payment of the whole amount then owing and
unpaid upon the Securities of such series for principal and premium, if any, and interest, with interest on the overdue principal and premium, if any, and (to the extent that such interest has been collected by the Trustee) upon overdue installments
of interest at the rate borne by the Securities of such series, and in case such moneys shall be insufficient to pay in full the whole amounts so due and unpaid upon the Securities of such series, then to the payment of such principal and premium,
if any, and interest without preference or priority of principal and premium, if any, over interest, or of interest over principal and premium, if any, 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 premium, if any, and accrued and unpaid interest. 
 Fourth: The balance, if any, to the Person or Persons entitled thereto. 
  

	Section 5.6	Control by Holders; Waiver of Past Default. 

 (a) The Holders of a majority in principal amount of the Outstanding Securities of any series may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee
hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series; provided, however, that the Trustee shall have the right to decline to follow any such direction if the
Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not joining in such direction or would involve the Trustee in personal liability. 
 (b) Prior to any declaration accelerating the maturity of the Securities of any series, the Holders of a majority in aggregate principal
amount of such series of Outstanding Securities may on behalf of the Holders of all of the Securities of such series waive any past default hereunder and its consequences except a default not theretofore cured in the payment of interest (including
any Additional Interest) or any premium on or the principal of the Securities of such series or in respect of any covenant or provision hereof which under Article IX cannot be modified or waived without the consent of the Holder of each Outstanding
Security of each series affected thereby; provided, however, that if the Securities of such series are held by a GMAC Trust or a trustee of such trust, such waiver or modification to such waiver shall not be effective until the holders
of Trust Securities representing a majority in liquidation preference of Trust Securities of the applicable GMAC Trust shall have consented to such waiver or modification to such waiver; provided further, that if the consent of the Holder of
each Outstanding Security is required, such waiver shall not be effective until each holder of the Trust Securities of the applicable GMAC Trust shall have consented to such waiver. Upon any such waiver the Company, the Trustee and the Holders of
the Securities of such series shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. Whenever any

  

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default hereunder shall have been waived as permitted by this Section 5.6, said default shall for all purposes of the Securities of such series and this Indenture cease to exist, and any
Default or Event of Default arising therefrom shall be deemed to have been cured and to be not continuing. 
  

	Section 5.7	Limitation on Suits; Default. 

 No Holder of any Security of any series shall have any right to institute any action, suit or proceeding at law or in equity for the execution of any trust hereunder or for the appointment of a receiver or for any other remedy hereunder, in
each case with respect to a Default with respect to such series of Securities, unless such Holder previously shall have given to the Trustee written notice of the happening of one or more of the Defaults herein specified with respect to such series
of Securities, and unless also the Holders of 25% or more in principal amount of the Securities of such series then Outstanding shall have requested the Trustee in writing to take action in respect of the matter complained of, and unless also there
shall have been offered to the Trustee security and indemnity satisfactory to it against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee, for 60 days after receipt of such notification, request and offer of
indemnity, shall have neglected or refused to institute any such action, suit or proceeding; and such notification, request and offer of indemnity are hereby declared in every such case to be conditions precedent to any such action, suit or
proceeding by any Holder of any Security of such series; it being understood and intended that no one or more of the Holders of Securities of such series shall have any right in any manner whatsoever by his or their action to enforce any right
hereunder, except in the manner herein provided, and that every action, suit or proceeding at law or in equity shall be instituted, had and maintained in the manner herein provided and for the equal and ratable benefit of all Holders of the
Outstanding Securities of such series; provided, however, that nothing contained in this Indenture or in the Securities of such series shall affect or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of, and premium, if any, and interest on the Securities of such series to the respective Holders of such Securities at the respective due dates in such Securities stated, or affect or impair the right, which is also absolute and
unconditional, of such Holders to institute suit to enforce the payment thereof. 
 The following events shall constitute a
“Default” with respect to any series of Securities under this Indenture: 
 (a) an Event of Default with respect to
such series specified in Section 5.1; or 
 (b) the failure of the Company to pay any installment of interest on any
Security of such series, when and as the same shall become payable, which failure shall have continued unremedied for a period of 30 days, it being understood that the occurrence of an Extended Interest Payment Period in accordance with the terms of
such Security will not constitute such a default; or 
 (c) the failure of the Company to pay the principal of (and premium, if
any, on) any Security of such series, when and as the same shall become payable, whether at maturity as therein expressed, by call for redemption (otherwise than pursuant to a sinking fund), by declaration as authorized by this Indenture or
otherwise, whether or not permitted by Article XIV; or 
  

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 (d) the failure of the Company to pay a sinking fund installment, if any, when and as the
same shall become payable by the terms of a Security of such series, which failure shall have continued unremedied for a period of 30 days, whether or not permitted by Article XIV; or 
 (e) the failure of the Company, subject to the provisions of Section 8.1, to observe and perform any other of the covenants or
agreements on the part of the Company contained in this Indenture (including any indenture supplemental hereto) (other than a covenant or agreement which has been expressly included in this Indenture solely for the benefit of a series of Securities
other than that series), which failure shall not have been remedied for a period of 90 days after written notice shall have been given to the Company by the Trustee or shall have been given to the Company and the Trustee by Holders of 25% or more in
aggregate principal amount of the Securities of such series then Outstanding, specifying such failure and requiring the Company to remedy the same; or 
 (f) in the event Securities of a series are issued and sold to a GMAC Trust or a trustee of such trust in connection with the issuance of Trust Securities by such GMAC Trust, such GMAC Trust shall have
voluntarily or involuntarily dissolved, wound up its business or otherwise terminated its existence except in connection with (i) the distribution of Securities to holders of Trust Securities in liquidation of their interests in such GMAC
Trust, (ii) the redemption of all of the outstanding Trust Securities of such GMAC Trust or (iii) mergers, consolidations or amalgamations permitted by the Declaration of such GMAC Trust; or 
 (g) any other Default provided with respect to Securities of that series. 
  

	Section 5.8	Costs and Attorneys’ Fees in Legal Proceedings. 

 All parties to this Indenture and the Holders of the Securities agree that the court may in its discretion require, in any action, suit or proceeding for the enforcement of any right or remedy under this
Indenture, or in any action, suit or proceeding against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such action, suit or proceeding of an undertaking to pay the costs of such action, suit or
proceeding, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such action, suit or proceeding, having due regard to the merits and good faith of the claims or
defenses made by such party litigant; provided, however, that the provisions of this Section 5.8 shall not apply to any action, suit or proceeding instituted by the Trustee, to any action, suit or proceeding instituted by any one
or more Holders of Securities holding in the aggregate more than 10% in principal amount of the Outstanding Securities, or to any action, suit or proceeding instituted by any Holder of Securities for the enforcement of the payment of the principal
of or premium, if any, or the interest on, any of the Securities, on or after the respective due dates expressed in such Securities. 
  

	Section 5.9	Remedies Cumulative. 

 Except as provided in the last sentence of Section 3.6, no remedy herein conferred upon or reserved to the Trustee or to the Holders of Securities of any series is intended to be exclusive of any other remedy or remedies, and each and
every remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. No delay or omission of the Trustee or of any Holder of the Securities of any

  

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series to exercise any right or power accruing upon any Default shall impair any such right or power or shall be construed to be a waiver of any such Default or an acquiescence therein; and every
power and remedy given by this Article V to the Trustee and to the Holders, respectively, may be exercised from time to time and as often as may be deemed expedient by the Trustee or by the Holders, as the case may be. In case the Trustee or any
Holder of Securities shall have proceeded to enforce any right under this Indenture and the proceedings for the enforcement thereof shall have been discontinued or abandoned because of waiver or for any other reason or shall have been adjudicated
adversely to the Trustee or to such Holder, then and in every such case the Company, the Trustee and the Holders shall severally and respectively be restored to their former positions and rights hereunder and thereafter all rights, remedies and
powers of the Trustee and the Holders shall continue as though no such proceedings had been instituted, except as to any matters so waived or adjudicated. 
  

	Section 5.10	Waiver of Stay or Extension Laws. 

 The Company 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 the Company (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, but will suffer and permit the execution of every such power as though no law had been enacted. 
 ARTICLE VI 
 THE TRUSTEE

  

	Section 6.1	Certain Duties and Responsibilities. 

 (a) Except during the continuance of a Default; 
 (1) the 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 the Trustee; and 
 (2) in the absence of bad faith on its part, the 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 the 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 the Trustee, the 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 a Default with respect to any series of Securities, of
which a Responsible Officer of the Trustee has actual knowledge, has occurred and is continuing, the Trustee 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 man would exercise or use under the circumstances in the conduct of his own affairs. 
  

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 (c) No provision of this Indenture shall be construed to relieve the Trustee 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) the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (3) the Trustee shall not be liable with respect to any action taken 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 series determined as provided in Section 5.6, relating to the time, method and place of conducting any proceeding for any remedy available
to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series; and 
 (4) no provision of this Indenture shall require the Trustee 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, if it shall have reasonable grounds for believing that repayment of such funds or indemnity, reasonably satisfactory to it, against such risk or liability is not reasonably assured to it. 
 (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 shall be subject to the provisions of this Section. 
  

	Section 6.2	Notice of Defaults. 

 Within 90 days after the occurrence of any Default hereunder with respect to Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such series, as their names and addresses appear in the Security
Register, notice of such Default hereunder actually known to a Responsible Officer of the Trustee, unless such Default shall have been cured or waived; provided that, except in the case of a Default in the payment of the principal of (or
premium, if any) or interest on any Security of such series or in the payment of any sinking fund installment with respect to Securities of such series, the Trustee shall be protected in withholding such notice if and so long as a Responsible
Officer of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders of Securities of such series; and provided, further, that in the case of any Default of the character specified in
Section 5.7(e) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. 
  

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	Section 6.3	Certain Rights of Trustee. 

 Subject to the provisions of Section 6.1: 
 (a) the Trustee may conclusively rely and shall be fully protected in
acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, 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 Company
mentioned herein shall be sufficiently evidenced by a Company Request or Company Order, and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 
 (c) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to
taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officers’ Certificate; 
 (d) the 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) the 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 pursuant to this Indenture, unless
such Holders shall have offered to the 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) the 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, but the Trustee, in its discretion, may make such further inquiry or investigation into such
facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the expense
of the Company and shall incur no liability of any kind by reason of such inquiry or investigation; 
 (g) the 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 the 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 charged with knowledge of any Default or Event of
Default with respect to the Securities, other than (1) an Event of Default under Section 5.1(a) if such an Event of Default shall have occurred; (2) a Default under Section 5.7(b) or
 5.7(c) if such a Default shall have
occurred; or (3) any Default as to which the Trustee shall have received

  

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written notice (which notice shall have been given to the Trustee at the Corporate Trust Office of the Trustee by the Company or by any Holder of the relevant Securities and which is in fact such
a Default) or of which a Responsible Officer shall have actual knowledge; 
 (i) the Trustee shall not be liable for special,
indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if 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 responsible or liable for any failure or delay in the performance of its obligations under this Indenture
arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or
acts of God, and interruptions, loss or malfunctions of third-party utilities, communications or computer (software or hardware) services; 
 (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 by the Trustee and appointed with due care by it; 
 (l) the Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions
pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not
superseded; 
 (m) the permissive rights of the Trustee enumerated herein shall not be construed as duties; and 
 (n) 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. 
  

	Section 6.4	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 Company, and the Trustee or any Authenticating Agent
assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee or any Authenticating Agent shall not be accountable for the use or
application by the Company of Securities or the proceeds thereof. 
  

	Section 6.5	May Hold Securities. 

 The
Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 6.8 and 6.13, may
otherwise deal with the

  

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Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. 
  

	Section 6.6	Money Held in Trust. 

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

	Section 6.7	Compensation and Reimbursement. 

 (a) The Company agrees: 
 (1) to pay to the Trustee from time to time reasonable compensation for all
services rendered by it hereunder (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 upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents, nominees, custodians and counsel), except any such
expense, disbursement or advance as shall be determined to have been caused by its own negligence, bad faith or willful misconduct; and 
 (3) to indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence, bad faith or willful misconduct on its part, arising out of or in connection
with the acceptance or administration of the trust hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 
 (b) As security for the performance of the obligations of the Company under this Section, the Trustee shall have a lien prior to the
Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of Holders of particular Securities. The obligations of the Company under this Section shall survive the removal or
resignation of the Trustee and the satisfaction, discharge or termination of this Indenture. 
 (c) Without prejudice to any
other rights available to the Trustee under applicable law, when the Trustee incurs any expenses or renders any services after the occurrence of an Event of Default specified in Section 5.1(b) or Section 5.1(c), such expenses and the
compensation for such services are intended to constitute expenses of administration under the United States Bankruptcy Code (Title 11 of the United States Code) or any similar federal or state law for the relief of debtors. 
  

	Section 6.8	Disqualification; Conflicting Interests. 

 The Trustee shall be subject to the provisions of Section 310(b) of the Trust Indenture Act during the period of time provided for therein. In determining whether the Trustee has a

  

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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 for purposes of the conflicting interest
provisions of such Section 310(b) the Securities of every other series issued under this Indenture. Nothing herein shall prevent the Trustee from filing with the Commission the application referred to in the second to last paragraph of
Section 310(b) of the Trust Indenture Act. 
  

	Section 6.9	Corporate Trustee Required; Eligibility. 

 There shall at all times be a Trustee hereunder which shall be a corporation 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 and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition
at least annually, pursuant to law or to the requirements of said supervision 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 the 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. 
  

	Section 6.10	Resignation and Removal; Appointment of Successor. 

 (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in
accordance with the applicable requirements of Section 6.11. 
 (b) The Trustee may resign at any time with respect to the
Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of
such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal
amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. 
 (d) If at any time:

 (1) the Trustee shall fail to comply with Section 310(b) of the Trust Indenture Act after written request
therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or 
 (2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or 
 (3) the Trustee shall become incapable of acting or shall be adjudged bankrupt or insolvent or a receiver of the Trustee or
of its property shall be appointed or any public

  

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officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case, (i) the Company, by a Board Resolution, may remove the Trustee with respect to all Securities, or (ii) subject to
Section 5.8, any Holder who has been a bona fide Holder of a Security 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 the Trustee with
respect to all Securities and the appointment of a successor Trustee or Trustees. 
 (e) If the Trustee shall resign, be removed
or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with
respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with
respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 6.11. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee
with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so
appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the
successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, 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 Company 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 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. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 
  

	Section 6.11	Acceptance of Appointment by Successor. 

 (a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to 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 Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument 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. 
  

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 (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 Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture 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 the Securities of all series for which it is the Trustee
hereunder, 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 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; and upon the execution and delivery of such supplemental indenture 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 Company 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 Company 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 shall be qualified and eligible under this Article. 
 (e) The Trustee shall not
be liable for the acts or omissions to act of any successor Trustee. 
  

	Section 6.12	Merger, Conversion, Consolidation or Succession to Business. 

 Any corporation or association into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or association resulting from any merger, conversion or
consolidation to which the Trustee shall be a party, or any corporation or association to which all or substantially all of the corporate trust business of the Trustee may be sold or otherwise transferred, shall be the successor of the Trustee
hereunder without the execution or filing of any paper or any further act, provided such corporation shall be otherwise qualified and eligible under this Article. In case any Securities shall have been authenticated, but not delivered, by the
Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities. 
  

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	Section 6.13	Preferential Collection of Claims Against Company. 

 The Trustee shall comply with the Trust Indenture Act Section 311(a), excluding any creditor relationship listed in the Trust Indenture Act Section 311(b). A Trustee who has resigned or been
removed shall be subject to the Trust Indenture Act Section 311(a) to the extent indicated therein. 
  

	Section 6.14	Appointment of Authenticating Agent. 

 (a) At any time when any of the Securities remain Outstanding the Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on
behalf of the Trustee to authenticate Securities of such series issued upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.6, and Securities so authenticated shall be entitled to the benefits of this
Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate
of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation 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
act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such Authenticating Agent 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 Authenticating Agent 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 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. 
 (b) Any corporation into which an Authenticating Agent 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 Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an
Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent. 
 (c) An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and
to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or
in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be

  

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acceptable to the Company and shall give notice of such appointment by first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating
Agent will serve, as their names and addresses appear in 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. 
 (d) The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section.

 (e) If an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may
have endorsed thereon an alternative certificate of authentication in the following form: 
 This is one of the Securities of
the series designated herein referred to in the within-mentioned Indenture. 
  

			
	 THE BANK OF NEW YORK MELLON,
As Trustee

		
	By:	 	  

		 	As Authenticating Agent
		
	By:	 	  

		 	Authorized Officer
		
	Dated:	 	  

 ARTICLE VII 
 HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY 
  

	Section 7.1	Company to Furnish Trustee Names and Addresses of Holders. 

 The Company will furnish or cause to be furnished to the Trustee: 
 (a)
semi-annually not more than 15 days after each Regular Record Date a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of such series as of the preceding March 1 or
September 1, or as of such Regular Record Date, as the case may be, and 
 (b) at such other times as the Trustee may
request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; and provided, further that the Company

  

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shall not be obligated to furnish such list at any time the list does not differ from the most recent list given to the Trustee by the Company; 
 provided that if and so long as the Trustee shall be the Security Registrar for such series, such list shall not be required to be furnished.

  

	Section 7.2	Preservation of Information; Communications to Holders. 

 Holders may communicate pursuant to the Trust Indenture Act Section 312(b) with other Holders with respect to their rights under this Indenture and the Securities. The Company, the Trustee, the
Registrar and any other person shall have the protection of the Trust Indenture Act Section 312(c). 
  

	Section 7.3	Reports by Trustee. 

 Within 60 days after May 15 of each year commencing with the year 2010, the Trustee shall provide to the Holders of Securities such reports as are required by Section 313(a) of the Trust Indenture Act, if any, in the form and in
the manner provided by Section 313 of the Trust Indenture Act. The Trustee shall also comply with the other requirements of Section 313 of the Trust Indenture Act. The Company will notify the Trustee when any such Securities are listed on
any securities exchange. 
  

	Section 7.4	Reports by Company. 

 The
Company shall: 
 (1) file with the Trustee, within 15 days after the Company 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 the Company may be
required to file with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934; or, if the Company is not required to file information, documents or reports pursuant to either of said Sections, then it
shall file with the 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 Securities Exchange Act of 1934 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 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 the Company 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, such

  

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summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (1) and (2) of this Section 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 is for
informational purposes only and the Trustee’s receipt of such reports shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with
any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
  

	Section 7.5	Officers’ Certificate as to Events of Default. 

 The Company shall deliver to the Trustee, as soon as practicable and in any event within five days after the Company becomes aware of the occurrence of any Default or Event of Default or an event which,
with notice or the lapse of time or both, would constitute a Default or an Event of Default, an Officers’ Certificate setting forth the details of such event, Default or Event of Default and the action which the Company proposes to take with
respect thereto. 
 ARTICLE VIII 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
  

	Section 8.1	Company May Consolidate, Etc., Only on Certain Terms. 

 The Company shall not consolidate with or merge into any other corporation or convey, transfer or lease its properties and assets substantially as an entirety to any Person, unless: 
 (1) the Person formed by such consolidation (if other than the Company) or into which the Company is merged or the Person
which acquires by conveyance or transfer, or which leases, the properties and assets of the Company substantially as an entirety shall be a corporation organized and existing under the laws of the United States of America, any State thereof or the
District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of (and premium, if any) and interest on
all the Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or observed; 
 (2) immediately after giving effect to such transaction, no Default, and no event which, after notice or lapse of time or both, would become a Default, shall have happened and be continuing; and

 (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that such consolidation, merger, conveyance, transfer or lease and such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 

 

	Section 8.2	Successor Corporation Substituted. 

 Upon any consolidation of the Company with, or merger of the Company into, any other corporation or any conveyance, transfer or lease of the properties and assets of the Company

  

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substantially as an entirety in accordance with Section 8.1, the successor corporation formed by such consolidation or into which the Company is merged or to which such conveyance, transfer
or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor corporation had been named as the Company herein, and thereafter, except
in the case of a lease, the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE IX 
 SUPPLEMENTAL INDENTURES 
  

	Section 9.1	Supplemental Indentures Without Consent of Holders. 

 Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in
form satisfactory to the Trustee, for any of the following purposes: 
 (1) to evidence the succession of another
corporation to the Company and the assumption by any such successor of the covenants of the Company contained herein and in the Securities, pursuant to Article VIII; or 
 (2) to add to the covenants of the Company 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 one or more specified series) or to surrender any right or power herein conferred upon the
Company; or 
 (3) to add any additional Defaults; or 
 (4) to change or eliminate any of the provisions of this Indenture, provided that any such change or elimination
(i) 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 provision or (ii) shall not apply to any Outstanding
Securities; or 
 (5) to secure the Securities; or 
 (6) to establish the form or terms of Securities of any series as permitted by Sections 2.1 and 3.1; or 
 (7) 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 6.11(b); or 
 (8) to cure any ambiguity or manifest error, to correct or supplement any provision
herein which may be inconsistent with any other provision herein, or to make

  

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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 
 (9) to comply with the requirements of the Commission in order to effect or
maintain the qualification of this Indenture under the Trust Indenture Act; provided such action shall not adversely affect the interests of the Holders of Securities of any series in any material respect. 
  

	Section 9.2	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 each series affected by such supplemental indenture, by Act of said Holders delivered to
the Company and the Trustee, the Company, when authorized by a Board Resolution, and the 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 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 on, any Security, or reduce the principal amount thereof or the rate of interest thereon (including any change in the Floating or Adjustable Rate Provision pursuant to which such rate is determined that would reduce that
rate for any period) or any premium payable upon the redemption thereof, 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 modify the provisions of this Indenture with respect to the subordination of the Securities in a
manner adverse to the Holders, or 
 (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, or 
 (3) modify any of the provisions of this Section or
Section 5.6, 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 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 or the deletion of this proviso, in accordance with the requirements of
Sections 6.11(b) and 9.1(8), or 
 (4) remove or impair the rights of any Holder of Securities to bring a Direct
Action in certain circumstances, as provided in Section 15.1; 
  

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 provided, further, that if the Securities of such series are held by a GMAC Trust or a trustee
of such trust, such supplemental indenture shall not be effective until the holders of a majority in liquidation preference of Trust Securities of the applicable GMAC Trust shall have consented to such supplemental indenture; provided,
further, that if the consent of the Holder of each Outstanding Securities is required, such supplemental indenture shall not be effective until each holder of the Trust Securities of the applicable GMAC Trust shall have consented to such
supplemental indenture. 
 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 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 9.3	Execution of Supplemental Indentures. 

 In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be
given, in addition to the documents required by Section 1.2, and (subject to Section 6.1) shall be fully protected in relying upon, an Opinion of Counsel and an Officers’ Certificate stating that the execution of such supplemental
indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

  

	Section 9.4	Effect of Supplemental Indentures. 

 Upon the execution of any supplemental indenture under this Article, 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 to the extent provided therein. 
  

	Section 9.5	Conformity with Trust Indenture Act. 

 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect. 
  

	Section 9.6	Reference in Securities to Supplemental Indentures. 

 Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved
by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture

  

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may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 
 ARTICLE X 
 COVENANTS 
  

	Section 10.1	Payment of Principal, Premium and Interest. 

 The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of (and premium, if any) and interest on the Securities of that series in
accordance with the terms of the Securities of such series and this Indenture, and will duly comply with all other terms, agreements and conditions contained in, or made in the Indenture for the benefit of, the Securities of such series. 

 

	Section 10.2	Maintenance of Office or Agency. 

 The Company 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 Company in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and
any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company 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 that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or
agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency.

  

	Section 10.3	Money for Securities Payments to Be Held in Trust. 

 If the Company 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) or interest 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) or interest 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 of its action or failure so to act. 
 Whenever
the Company 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) or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to
pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of

  

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the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

 The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the
Trustee an instrument in which such Paying Agent shall agree with the 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) or interest 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 the Trustee notice of any
default by the Company (or any other obligor upon the Securities of that series) in the making of any payment of principal (and premium, if any) or interest on the Securities of that series; and 
 (3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the
Trustee all sums so held in trust by such Paying Agent. 
 The Company 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 all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the
same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the 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, or then held by the Company, in trust for the payment of the
principal of (and premium, if any) or interest 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 Company on Company Request, or
(if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying
Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the
Company 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 Borough of Manhattan, The City of New York, 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 Company. 
  

	Section 10.4	Statement by Officers as to Default. 

 The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate stating whether or not to the

  

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best knowledge of the signers thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture, and if the Company shall be in
default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 
  

	Section 10.5	Covenants as to GMAC Trusts. 

 For so long as any Trust Securities of a GMAC Trust remain outstanding, the Company will (i) maintain 100% direct or indirect ownership of the Common Securities of such GMAC Trust; provided, however, that any permitted successor of the
Company hereunder may succeed to the Company’s ownership of such Common Securities, (ii) not voluntarily dissolve, wind up or terminate such GMAC Trust, except in connection with a distribution of Securities upon a Special Event, and in
connection with certain mergers, consolidations or amalgamations permitted by the Declaration of such GMAC Trust, (iii) timely perform its duties as Sponsor of the applicable GMAC Trust, (iv) use its reasonable efforts to cause such GMAC
Trust to (a) remain a statutory trust, except in connection with (I) the distribution of Securities to holders of Trust Securities in liquidation of their interests in such GMAC Trust, (II) the redemption of all of the outstanding Trust
Securities of such GMAC Trust, or (III) mergers, consolidations or amalgamations permitted by the Declaration of such GMAC Trust, and (b) otherwise continue to be classified as a grantor trust for United States federal income tax purposes and
(v) not knowingly take any action that would cause such GMAC Trust to not be classified as a grantor trust for United States federal income tax purposes. 
  

	Section 10.6	Payment of Expenses. 

 (a)
In connection with the sale and issuance of each series of Securities to the Institutional Trustee of a GMAC Trust and in connection with the offering and sale of Trust Securities by such GMAC Trust, the Company, in its capacity as borrower with
respect to such Securities, shall: 
 (i) pay all costs and expenses relating to the offering, sale and issuance of such
Securities, including any commissions to any underwriters engaged by the Company in connection with such offering, sale and issuance and compensation of the Trustee under this Indenture in accordance with the provisions of Section 6.7;

 (ii) pay all costs and expenses of such GMAC Trust(including, but not limited to, costs and expenses relating to the
organization of the trust, the offering, sale and issuance of the Trust Securities of such GMAC Trust (including any commissions to any underwriters engaged by the Company in connection therewith), the fees and expenses of the Institutional Trustee,
the Administrative Trustees and the Delaware Trustee of such GMAC Trust, the costs and expenses relating to the operation, maintenance and dissolution of such GMAC Trust and the enforcement by such Institutional Trustee of the rights of the holders
of the Trust Preferred Securities of such GMAC Trust, including, without limitation, costs and expenses of accountants, attorneys, statistical or bookkeeping services, expenses for printing and engraving and computing or accounting equipment, paying
agent(s), registrar(s), transfer agent(s), duplicating, travel and telephone and other telecommunications expenses and costs and expenses incurred in connection with the acquisition, financing, and disposition of assets of such GMAC Trust);

  

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 (iii) be primarily liable for any indemnification obligations arising with respect to the
Declaration of such GMAC Trust; and 
 (iv) pay any and all taxes (other than United States withholding taxes in respect of
amounts paid on the Securities held by such GMAC Trust) and all liabilities, costs and expenses with respect to such taxes of such GMAC Trust. 
 (b) Upon termination of this Indenture or any series of Securities or the removal or resignation of the Trustee pursuant to Section 6.10, the Company shall pay to the Trustee all amounts accrued and
owing to the Trustee to the date of such termination, removal or resignation. Upon termination of the Declaration of any GMAC Trust or the removal or resignation of the Delaware Trustee or the Institutional Trustee, as the case may be, pursuant to
Section 5.6 of the Declaration of such GMAC Trust, the Company shall pay to such Delaware Trustee or such Institutional Trustee, as the case may be, all amounts accrued and owing to such Delaware Trustee or such Institutional Trustee, as the
case may be, to the date of such termination, removal or resignation. 
  

	Section 10.7	Listing on an Exchange. 

 If Securities of any series are to be issued as a Global Security in connection with the distribution of such Securities to the holders of the Trust Preferred Securities of a GMAC Trust upon a Dissolution Event with respect to such GMAC
Trust and the Trust Preferred Securities are listed on the New York Stock Exchange, Inc. or on any other national securities exchange, the Company will use its best efforts to list such series of Securities on the New York Stock Exchange, Inc. or on
such other securities exchange as the Trust Preferred Securities of such GMAC Trust are then listed. The Company will promptly notify the Trustee in writing of any Securities that will be listed on or delisted from any securities exchange.

  

	Section 10.8	Future Issuance of Securities under this Indenture. 

 Any Securities issued under this Indenture shall (x) be issued with the concurrence or approval of the Federal Reserve or its staff or (y) qualify at the time of issuance for tier 1 capital
treatment (irrespective of any limits on the amount of the Company’s tier 1 capital) under applicable capital adequacy guidelines, regulations, policies, published interpretations or any applicable concurrence or approval of the Federal Reserve
or its staff. 
 ARTICLE XI 
 REDEMPTION OF SECURITIES 
  

	Section 11.1	Applicability of Article; Federal Reserve Approval. 

 Securities of each series are redeemable before their respective Stated Maturities in accordance with their respective terms and (except as otherwise specified as contemplated by Section 3.1 for
Securities of any series) in accordance with this Article. Any redemption of any series of Securities, in whole or in part, prior to their respective Stated Maturities shall be subject to receipt by the Company of the prior concurrence or approval
of the Federal Reserve or its staff, (i) if such concurrence or approval is then required in order for securities such as the Securities to qualify as tier 1 capital under applicable capital adequacy guidelines, regulations,

  

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policies, published interpretations, or any applicable concurrence or approval of the Federal Reserve or its staff, or (ii) if the Federal Reserve or its staff has informed the Company that
it must obtain such concurrence or approval before redeeming the Securities. 
  

	Section 11.2	Election to Redeem; Notice to Trustee. 

 (a) Subject to the provisions of Section 11.2(b) and to the other provisions of this Article XI, except as otherwise may be specified in this Indenture or, with respect to any series of Securities,
as otherwise specified as contemplated by Section 3.1 for the Securities of such series, the Company shall have the right to redeem any series of Securities, in whole or in part, at any time on or after the Redemption Option Date for such
series at the Redemption Price. The election of the Company to redeem any Securities redeemable at the election of the Company shall be evidenced by a Board Resolution. In case of any redemption at the election of the Company of the Securities of
any series, the Company shall, at least 40 days (unless a shorter period is acceptable to the Trustee), but not more than 60 days, prior to the Redemption Date fixed by the Company, notify the Trustee of such Redemption Date and of the principal
amount of Securities of such series to be redeemed. In the case of any redemption of Securities (a) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, or
(b) pursuant to an election of the Company which is subject to a condition provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance
with such restriction or condition. 
 (b) If the Trust Preferred Securities are listed on the New York Stock Exchange, Inc. or
on any other national securities exchange and a partial redemption of any series of Securities would result in the delisting of the Trust Preferred Securities of the GMAC Trust from any national securities exchange on which the Trust Preferred
Securities of such GMAC Trust are then listed, the Company shall not be permitted to effect such partial redemption and may only redeem such series of Securities in whole. 
  

	Section 11.3	Selection by Trustee of Securities to Be Redeemed. 

 If less than all the Securities of any series are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the
Outstanding Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the minimum authorized
denomination for Securities of that series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series; provided that,
if at the time of redemption such Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each Security Beneficial Owner to be redeemed.

 The Trustee shall promptly notify the Company in writing of the Securities selected for redemption and, in case of any
Securities selected for partial redemption, the principal amount thereof to be redeemed. 
  

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 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 11.4	Notice of Redemption. 

 Notice of redemption shall be given by first-class mail, postage prepaid, 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 address appearing in the Security
Register. 
 All notices of redemption shall state: 
 (1) the Redemption Date, 
 (2) the Redemption Price (or if not then ascertainable, the manner of calculation thereof), 
 (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 of such
series 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 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. 
 Notice of redemption of Securities to be redeemed at the
election of the Company shall be given by the Company or, at the Company’s request and provision of such notice information to the Trustee no less than 10 days prior to the mailing of such redemption notice, by the Trustee in the name and at
the expense of the Company. 
  

	Section 11.5	Deposit of Redemption Price. 

 Prior to 10:00 a.m., New York City time, on any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in
Section 10.3) 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. 
  

	Section 11.6	Securities Payable on Redemption Date. 

 (a) 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 Company shall default in the payment

  

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of the Redemption Price and accrued 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 Company at the Redemption Price, together with accrued interest to the Redemption Date; provided 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 3.7. 
 (b) 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. 
 (c) The Redemption
Price shall be paid prior to 12:00 noon, New York City time, on the date of such redemption or such earlier time as the Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Redemption
Price by 10:00 a.m., New York City time, on the date such Redemption Price is to be paid. 
  

	Section 11.7	Securities Redeemed in Part. 

 Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment for Securities of that series (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new
Security or Securities of the same series, of like tenor and 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. 
 ARTICLE XII 
 SINKING FUNDS 
  

	Section 12.1	Applicability of Article. 

 The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series except as otherwise specified as contemplated by Section 3.1 for the 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 12.2. Each sinking fund payment shall be applied to the redemption of Securities as provided for by the terms of Securities
of such series. 
  

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	Section 12.2	Satisfaction of Sinking Fund Payments with Securities. 

 Unless the form or terms of any series of Securities shall provide otherwise, the Company (1) may deliver to the Trustee Outstanding Securities of a series (other than any previously called for
redemption) and (2) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments
pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such Securities as provided for by the
terms of such Securities; provided that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption
through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 
  

	Section 12.3	Redemption of Securities for Sinking Fund. 

 Not less than 60 days prior to each sinking fund payment date for any series of Securities the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing
sinking fund payment for that series pursuant to the terms of that series, 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 12.2 and will also deliver to the Trustee any Securities to be so delivered. Not less than 45 days before each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such
sinking fund payment date in the manner specified in Section 11.3 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 11.4. The Company shall deposit the
amount of cash, if any, required for such sinking fund payment with the Trustee in the manner provided in Section 11.5. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated
in Sections 11.6 and 11.7. 
 ARTICLE XIII 
 EXTENSION OF INTEREST PAYMENT PERIOD 
  

	Section 13.1	Extension of Interest Payment Period. 

 So long as no Event of Default shall have occurred and be continuing, the Company shall have the right, at any time and from time to time during the term of the Securities of any series, to defer payments
of interest by extending the interest payment period of all Securities of such series for a period not exceeding 20 consecutive quarters (the “Extended Interest Payment Period”), during which Extended Interest Payment Period no interest
shall be due and payable on Securities of such series; provided that no Extended Interest Payment Period may extend beyond the Maturity of such Securities. To the extent permitted by applicable law, interest, the payment of which has been
deferred because of the extension of the interest payment period pursuant to this Section 13.1, will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extended Interest Payment Period (“Compounded
Interest”). At the end of any Extended Interest Payment Period with respect to any series of Securities, the Company shall pay all interest accrued and unpaid on such Securities, including any Additional Interest and Compounded Interest
(together, “Deferred Interest”) that shall be payable to the Holders of

  

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Securities of such Series in whose names such Securities are registered in the Security Register on the record date immediately preceding the end of such Extended Interest Payment Period. For the
avoidance of doubt, the Company shall have the right to make partial payments of interest on any Interest Payment Date during an Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may
further extend such period; provided that such period, together with all such further extensions thereof, shall not exceed 20 consecutive quarters; and provided further that no prepayment of interest during an Extended Interest Payment
Period shall allow the Company to extend such Extended Interest Payment Period beyond 20 consecutive quarters. Upon the termination of any Extended Interest Payment Period with respect to any series of Securities and upon the payment of all Deferred
Interest then due, the Company may commence a new Extended Interest Payment Period with respect to such series of Securities, subject to the foregoing requirements. No interest on a series of Securities shall be due and payable during an Extended
Interest Payment Period with respect thereto, except at the end thereof, provided the Company may prepay at any time all or any portion of the interest accrued during any Extended Interest Payment Period. 
  

	Section 13.2	Notice of Extension. 

 (a)
If the Institutional Trustee of a GMAC Trust is the only Holder of Securities of a series at the time the Company selects an Extended Interest Payment Period with respect thereto, the Company shall give written notice to the Administrative Trustees
and the Institutional Trustee of such GMAC Trust and to the Trustee of its selection of such Extended Interest Payment Period at least one Business Day before the earlier of (i) the next succeeding date on which Distributions on the Trust
Securities issued by such GMAC Trust would be payable, if not for such Extended Interest Payment Period, or (ii) the date such GMAC Trust is required to give notice of the record date, or the date such Distributions are payable, to the New York
Stock Exchange or other applicable self-regulatory organization or to holders of the Trust Preferred Securities issued by such GMAC Trust, but in any event at least one Business Day before such record date. 
 (b) If the Institutional Trustee of a GMAC Trust is not the only Holder of Securities of a series at the time the Company selects an
Extended Interest Payment Period with respect thereto, the Company shall give written notice to the Holders of Securities of such series, the Administrative Trustees and the Trustee of its selection of such Extended Interest Payment Period at least
10 Business Days before the earlier of (i) the next succeeding Interest Payment Date, or (ii) the date the Company is required to give notice of the record or payment date of such interest payment to the New York Stock Exchange or other
applicable self-regulatory organization or to Holders of Securities of such series. 
 (c) The quarter in which any notice is
given pursuant to paragraphs (a) or (b) of this Section 13.2 shall be counted as one of the 20 quarters permitted in the maximum Extended Interest Payment Period with respect to any series of Securities. 
 (d) Notwithstanding anything else contained in this Indenture, the Company shall be required to give notice to any Person of its selection
of an Extended Interest Payment Period no more than 15 Business Days and no less than 5 Business Days before the next succeeding Interest Payment Date of the affected Securities. 
  

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	Section 13.3	Limitation of Transactions. 

 If with respect to any series of Securities (i) the Company shall exercise its right to defer payments of interest thereon as provided in Section 13.1 or (ii) there shall have occurred and be continuing any Default, then
(a) the Company and any subsidiary of the Company (other than a subsidiary that is a depository institution, or a subsidiary thereof) shall not declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire
or make a liquidation payment with respect to, any of the Company’s capital stock or make any guarantee payment with respect thereto (other than (i) redemptions, purchases or other acquisitions of shares of capital stock of the Company in
connection with the administration of any employee benefit plan in the ordinary course of business and consistent with past practice, (ii) the acquisition by the Company or any of its subsidiaries of record ownership in capital stock of the
Company for the beneficial ownership of any other persons (other than the Company or any of its subsidiaries), including trustees or custodians, (iii) as a result of an exchange or conversion of any class or series of the Company’s capital
stock for any other class or series of the Company’s capital stock, in each case, solely to the extent required pursuant to binding contractual agreements entered into prior to or on the original issue date of the Securities of this series or
any subsequent agreement for the accelerated exercise, settlement or exchange thereof for capital stock of the Company, (iv) distributions by or among any wholly-owned subsidiary of the Company, (v) redemptions of securities held by the
Company or any wholly-owned subsidiary of the Company, and (vi) unpaid tax distributions to holders of membership interests of GMAC LLC pursuant to
 Section 4(b) of GMAC LLC’s Plan of Conversion, dated June 30, 2009), and
(b) the Company and any subsidiary of the Company (other than a subsidiary that is a depository institution, or a subsidiary thereof) shall not make any payment of interest on or principal of (or premium, if any, on), or repay, repurchase or
redeem, any debt securities or guarantees issued by the Company which rank pari passu with or junior to the Securities (“Junior Subordinated Indebtedness”) (other than (i) redemptions, purchases or other acquisitions of Junior
Subordinated Indebtedness in connection with the administration of any employee benefit plan in the ordinary course of business and consistent with past practice, (ii) the acquisition by the Company or any of its subsidiaries of record
ownership in Junior Subordinated Indebtedness for the beneficial ownership of any other persons (other than the Company or any of its subsidiaries), including trustees or custodians, (iii) as a result of an exchange or conversion of any class
or series of Junior Subordinated Indebtedness for any other class or series of Junior Subordinated Indebtedness, (iv) redemptions of securities held by the Company or any wholly-owned subsidiary of the Company and (v) any payment of
interest on Junior Subordinated Indebtedness paid pro rata with interest paid on the Securities of such series such that the respective amounts of such payments made shall bear the same ratio to each other as all accrued but unpaid interest
per like-amount of such Securities and all Junior Subordinated Indebtedness bear to each other), provided, however, the restrictions in the foregoing clauses (a) and (b) will not apply to (i) any stock dividends paid by
the Company where the dividend stock is the same stock as that on which the dividend is being paid or (ii) dividends or distributions by or other transactions solely among the Company and any wholly-owned subsidiary of the Company or solely
among wholly-owned subsidiaries of the Company. 
  

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 ARTICLE XIV 
 SUBORDINATION OF SECURITIES 
  

	Section 14.1	Agreement to Subordinate. 

 (a) The Company covenants and agrees, and each Holder of Securities issued hereunder by such Holder’s acceptance thereof likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this Article XIV;
and each Holder of a Security, whether upon original issue or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions. 
 (b) The payment by the Company of the principal of, premium, if any, and interest on all Securities issued hereunder shall, to the extent and in the manner hereinafter set forth, be subordinated and
junior in right of payment to the prior payment in full of all Senior Indebtedness of the Company, whether outstanding at the date of this Indenture or thereafter incurred. 
 (c) No provision of this Article XIV shall prevent the occurrence of any Default hereunder. 
  

	Section 14.2	Default on Senior Indebtedness. 

 (a) In the event and during the continuation of any default by the Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness of the Company, as the case may be, or in the event that the
maturity of any Senior Indebtedness of the Company, as the case may be, has been accelerated because of a default, then, in either case, no payment shall be made by the Company with respect to the principal (including redemption payments) of, or
premium, if any, or interest on, the Securities or to acquire any of the Securities (except sinking fund payments made in Securities acquired by the Company prior to such default): 
 (b) In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee, by any Holder or by any Paying Agent
(or, if the Company is acting as its own Paying Agent, money for any such payment is segregated and held in trust) when such payment is prohibited by the preceding paragraph of this Section 14.2, before all Senior Indebtedness of the Company is
paid in full, or provision is made for such payment in money in accordance with its terms, such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness of the Company or their
respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, ratably according to the aggregate amount remaining
unpaid on account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or represented by each, for application to the payment of all Senior Indebtedness of the Company, as the case may be, remaining unpaid to
the extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the holders of such Senior Indebtedness, but only to the
extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Trustee in writing within 90 days of such payment of the amounts then due and owing on the Senior Indebtedness and only the
amounts specified in such notice to the Trustee shall be paid to the holders of Senior Indebtedness. 
  

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	Section 14.3	Liquidation; Dissolution; Bankruptcy. 

 (a) Upon any payment by the Company or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any dissolution or winding-up or
liquidation or reorganization of the Company, whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, all amounts due upon all Senior Indebtedness of the Company shall first be paid in full, or payment
thereof provided for in money in accordance with its terms, before any payment is made by the Company on account of the principal (and premium, if any) or interest on the Securities; and upon any such dissolution or winding-up or liquidation or
reorganization, any payment by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders of the Securities or the Trustee would be entitled to receive, except for
the provisions of this Article XIV, shall be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the Holders of the Securities or by the Trustee under
this Indenture if received by them or it, directly to the holders of Senior Indebtedness of the Company (pro rata to such holders on the basis of the respective amounts of Senior Indebtedness held by such holders, as calculated by the
Company) or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, to the
extent necessary to pay such Senior Indebtedness in full, in money or money’s worth, after giving effect to any concurrent payment or distribution to or for the holders of such Senior Indebtedness, before any payment or distribution is made to
the Holders of Securities or to the Trustee. 
 (b) In the event that, notwithstanding the foregoing, any payment or
distribution of assets of the Company of any kind or character, whether in cash, property or securities, prohibited by the foregoing, shall be received by the Trustee, by any Holder or by any Paying Agent (or, if the Company is acting as its own
Paying Agent, money for any such payment is segregated and held in trust) before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in accordance with its terms, such payment or distribution shall
be held in trust for the benefit of and shall be paid over or delivered to the holders of such Senior Indebtedness or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior
Indebtedness may have been issued, as their respective interests may appear, ratably according to the aggregate amount remaining unpaid on account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or
represented by each, as calculated by the Company, for application to the payment of all Senior Indebtedness of the Company, as the case may be, remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance
with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the holders of such Senior Indebtedness. 
 (c) For purposes of this Article XIV, the words “cash, property or securities” shall not be deemed to include shares of stock of the Company as reorganized or readjusted, or securities of the
Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the extent provided in this Article

  

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XIV with respect to the Securities to the payment of all Senior Indebtedness of the Company, as the case may be, that may at the time be outstanding, provided that (i) such Senior
Indebtedness is assumed by the new corporation, if any, resulting from any such reorganization or readjustment, and (ii) the rights of the holders of such Senior Indebtedness are not, without the consent of such holders, altered by such
reorganization or readjustment. The consolidation of the Company with, or the merger of the Company into, another corporation or the liquidation or dissolution of the Company following the conveyance or transfer of its property as an entirety, or
substantially as an entirety, to another corporation upon the terms and conditions provided for in Article VIII shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 14.3 if such other
corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article VIII. Nothing in Section 14.2 or in this Section 14.3 shall apply to claims of, or payments to the Trustee
under or pursuant to Section 6.7. 
  

	Section 14.4	Subrogation. 

 (a) Subject
to the payment in full of all Senior Indebtedness of the Company, the rights of the Holders of the Securities shall be subrogated to the rights of the holders of such indebtedness to receive payments or distributions of cash, property or securities
of the Company, as the case may be, applicable to such Senior Indebtedness until the principal of (and premium, if any) and interest on the Securities shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to
the holders of such Senior Indebtedness of any cash, property or securities to which the Holders of the Securities or the Trustee would be entitled except for the provisions of this Article XIV, and no payment over pursuant to the provisions of this
Article XIV to or for the benefit of the holders of such Senior Indebtedness by Holders of the Securities or the Trustee, shall, as between the Company, its creditors other than Holders of Senior Indebtedness of the Company, and the holders of the
Securities, be deemed to be a payment by the Company to or on account of such Senior Indebtedness. It is understood that the provisions of this Article XIV are and are intended solely for the purposes of defining the relative rights of the Holders
of the Securities, on the one hand, and the holders of such Senior Indebtedness on the other hand. 
 (b) Nothing contained in
this Article XIV or elsewhere in this Indenture or in the Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness of the Company, and the Holders of the Securities, the
obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and premium, if any) and interest on the Securities as and when the same shall become due and payable in accordance with their
terms, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Company, as the case may be, other than the holders of Senior Indebtedness of the Company, as the case may be, nor shall anything
herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under the Indenture, subject to the rights, if any, under this Article XIV of the holders of such
Senior Indebtedness in respect of cash, property or securities of the Company, as the case may be, received upon the exercise of any such remedy. 
 (c) Upon any payment or distribution of assets of the Company referred to in this Article XIV, the Trustee, subject to the provisions of Section 6.1, and the Holders of the

  

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Securities shall be entitled to conclusively rely upon any order or decree made by any court of competent jurisdiction in which such dissolution, winding-up, liquidation or reorganization
proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidation trustee, agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of the Securities, for the purposes of
ascertaining the Persons entitled to participate in such distribution, the holders of Senior Indebtedness and other indebtedness of the Company, as the case may be, the amount thereof or payable thereon, the amount or amounts paid or distributed
thereon and all other facts pertinent thereto or to this Article XIV. 
  

	Section 14.5	Trustee to Effectuate Subordination. 

 Each Holder of Securities by such Holder’s acceptance thereof authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the
subordination provided in this Article XIV and appoints the Trustee such Holder’s attorney-in-fact for any and all such purposes. 
  

	Section 14.6	Notice by the Company. 

 The Company shall give prompt written notice to a Responsible Officer of the Trustee of any fact known to the Company that would prohibit the making of any payment of monies to or by the Trustee in respect of the Securities pursuant to the
provisions of this Article XIV. Notwithstanding the provisions of this Article XIV or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment
of monies to or by the Trustee in respect of the Securities pursuant to the provisions of this Article XIV, unless and until a Responsible Officer of the Trustee shall have received written notice thereof from the Company or a holder or holders of
Senior Indebtedness or their representative or representatives or from any trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the provisions of Section 6.1 shall be entitled in all respects to assume
that no such facts exist; provided, however, that if the Trustee shall not have received the notice provided for in this Section 14.6 at least three Business Days prior to the date upon which by the terms hereof any money may
become payable for any purpose (including, without limitation, the payment of the principal of (or premium, if any) or interest on any Security), then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and
authority to receive such money and to apply the same to the purposes for which they were received, and shall not be affected by any notice to the contrary that may be received by it within three Business Days prior to such date. 
 The Trustee, subject to the provisions of Section 6.1, shall be entitled to conclusively rely on the delivery to it of a written notice
by a Person representing himself to be a holder of Senior Indebtedness of the Company, as the case may be (or a trustee on behalf of such holder), to establish that such notice has been given by a holder of such Senior Indebtedness or a trustee on
behalf of any such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of such Senior Indebtedness to participate in any payment or
distribution pursuant to this Article XIV, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the extent to which such Person is
entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article XIV, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial
determination as to the right of such Person to receive such payment. 
  

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	Section 14.7	Rights of the Trustee; Holders of Senior Indebtedness. 

 The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XIV in respect of any Senior Indebtedness at any time held by it, to the same extent as any other
holder of Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder. 
 With respect to the holders of Senior Indebtedness of the Company, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XIV, and no implied covenants or
obligations with respect to the holders of such Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of such Senior Indebtedness and, subject to the
provisions of Section 6.1, the Trustee shall not be liable to any holder of such Senior Indebtedness if it shall pay over or deliver to Holders of Securities, the Company or any other Person money or assets to which any holder of such Senior
Indebtedness shall be entitled by virtue of this Article XIV or otherwise. 
  

	Section 14.8	Subordination May Not Be Impaired. 

 No right of any present or future holder of any Senior Indebtedness of the Company to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure
to act on the part of the Company, as the case may be, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company, as the case may be, with the terms, provisions and covenants of this Indenture,
regardless of any knowledge thereof that any such holder may have or otherwise be charged with. 
 Without in any way limiting
the generality of the foregoing paragraph, the holders of Senior Indebtedness of the Company may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders of the Securities, without incurring responsibility
to the Holders of the Securities and without impairing or releasing the subordination provided in this Article XIV or the obligations hereunder of the Holders of the Securities to the holders of such Senior Indebtedness, do any one or more of the
following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, such Senior Indebtedness, or otherwise amend or supplement in any manner such Senior Indebtedness or any instrument evidencing the
same or any agreement under which such Senior Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing such Senior Indebtedness; (iii) release any Person liable
in any manner for the collection of such Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against the Company, as the case may be, and any other Person. 
  

	Section 14.9	Trustee’s Compensation Not Prejudiced. 

 Nothing in this Article XIV shall apply to amounts due to the Trustee pursuant to Section 6.7 of this Indenture. 
  

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 ARTICLE XV 
 MISCELLANEOUS 
  

	Section 15.1	Acknowledgement of Rights. 

 The Company acknowledges that, with respect to any Securities held by a GMAC Trust or a trustee of such Trust, if the Institutional Trustee of such GMAC Trust fails to enforce its rights under this Indenture as the Holder of the series of
Securities held as the assets of such GMAC Trust, any holder of Trust Preferred Securities of such GMAC Trust may institute legal proceedings directly against the Company to enforce such Institutional Trustee’s rights under this Indenture
without first instituting any legal proceedings against such Institutional Trustee or any other person or entity. 
 Notwithstanding the foregoing, if a Default has occurred and is continuing and such event is attributable to the failure of the Company to pay interest or principal (or premium, if any) on the applicable series of Securities on the date
such interest or principal (or premium, if any) is otherwise payable (or in the case of redemption, on the redemption date), the Company acknowledges that a holder of Trust Securities issued by the GMAC Trust which is, or the Institutional Trustee
of which is, the Holder of such Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of or interest on (or premium, if any) the applicable series of Securities having a principal amount equal to
the aggregate liquidation amount of the Trust Securities of such holder (a “Direct Action”) on or after the respective due date specified of such holder on or after the respective due date specified in the applicable series of Securities.
Notwithstanding any payments made to such holder of Trust Securities by the Company in connection with a Direct Action, the Company shall remain obligated to pay the principal of or interest on (or premium, if any) the series of Securities held by a
GMAC Trust or the Institutional Trustee of a GMAC Trust, and the Company shall be subrogated to the rights of the holder of such Trust Securities to the extent of any payments made by the Company to such holder in any Direct Action. 
  

	Section 15.2	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. Delivery of an executed signature page of
this Indenture by facsimile or electronic (including PDF) transmission shall be effective as delivery of a manually executed counterpart thereof. 
  

 - 73 - 

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

					
	GMAC INC.
		
	By:	 	 /s/ Robert S. Hull

		 	Name:	 	Robert S. Hull
		 	Title:	 	Executive Vice President and Chief Financial Officer
	
	THE BANK OF NEW YORK MELLON
		 	As Trustee
		
	By:	 	 /s/ Geovanni Barris

		 	Name:	 	Geovanni Barris
		 	Title:	 	Vice President

  

 - 74 - 

 EXHIBIT A 
 [FORM OF CERTIFICATE TO BE DELIVERED UPON 
 TRANSFER OF SECURITIES] 
 GMAC Inc. 
 200 Renaissance Center 
 P.O. Box 200 
 Detroit, Michigan 48265-2000

 Facsimile: (313) 656-6214 
 Attention: General Counsel 
 The Bank of New York Mellon 
 101 Barclay Street — 8W 
 New York, New York 10286 
 Attention: Corporate Trust Administration 
 Re:
            Junior Subordinated Deferrable Interest Debentures due                     
(the “Securities”) CUSIP # [            ] 
 Reference is hereby made to that certain indenture dated as of December 30, 2009 (the “Indenture”), between GMAC Inc. and The Bank of New York Mellon, as trustee (the “Trustee”). Capitalized terms used
but not defined herein shall have the meanings set forth in the Indenture. 
 This certificate relates to
$             principal amount of Securities held in definitive form by the undersigned. 
 The undersigned,                          (transferor), hereby requests the Trustee
to transfer a Security or Securities to                          (transferee). 
 In connection with such transfer of the Security or Securities, the undersigned confirms that such Securities are being transferred in
accordance with their terms: 
 CHECK ONE BOX BELOW: 
  

	 	 ̈	to GMAC Inc. or any subsidiary thereof; or 

  

	 	 ̈	to a “qualified institutional buyer” within the meaning of Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the
“Securities Act”) and in compliance with Rule 144A or (B) an institutional “accredited investor” within the meaning of subparagraph (a)(1), (2), (3) or (7) of Rule 501 under the Securities Act;

  

	 	 ̈	pursuant to an exemption from registration provided by Rule 144 under the Securities Act or any other available exemption from the registration requirements of the
Securities Act. 

  

 - 1 - 

 EXHIBIT A 
 Unless one of the boxes is checked, the Security Registrar will refuse to register the transfer of any of the Securities referenced in this
certificate. 
  

	
	  

	Signature

  

			
	Signature Guarantee:	 	  

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

 TO BE COMPLETED BY PURCHASER IF THE SECOND BOX ABOVE IS CHECKED. 
 The undersigned represents and warrants that: (initial applicable statement)  
              it and any account for which it is acting is a
“qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, as amended (“Rule 144A”), (ii) it exercises sole investment discretion with respect to each such account, and
(iii) it is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and
that it is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A; or 
              it is an institutional “accredited investor”
within the meaning of subparagraph (a)(1), (2), (3) or (7) of Rule 501 under the Securities Act purchasing for its own account or for the account of such an “accredited investor”, and it is acquiring the Securities for investment
purposes and not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act, and it has such knowledge and experience in financial and business matters as to be capable of evaluation the merits and
risks of its investment in the Securities, and it and any account for which it is acting is able to bear the economic risks of the investment. 
  

			
	[Name of Transferee]
		
	By:	 	 
		 	 Name:1
 Date:

  

	1	 To be signed by an executive officer. 

  

 - 2 - 

 EXHIBIT B 
 [FORM OF CERTIFICATE TO BE DELIVERED BY QIBs 
 IN CONNECTION WITH TRANSFERS PURSUANT
TO RULE 144A] 
 GMAC Inc. 
 200
Renaissance Center 
 P.O. Box 200 
 Detroit, Michigan 48265-2000 
 Facsimile: (313) 656-6214 
 Attention: General Counsel 
 The Bank of New York Mellon 
 101 Barclay Street — 8W 
 New York, New York
10286 
 Attention: Corporate Trust Administration 
  

	Re:	[            ] Junior Subordinated Deferrable Interest Debentures due
                     (the “Securities”) CUSIP # [            ]

 Ladies and Gentlemen: 
 In connection with our proposed sale of $                         aggregate
principal amount at maturity of the Securities (the “Subject Securities”), we hereby certify that such transfer is being effected pursuant to and in accordance with Rule 144A (“Rule 144A”) under the United States
Securities Act of 1933, as amended, and, accordingly, we hereby further certify that the Subject Securities are being transferred to a person that we reasonably believe is purchasing the Subject Securities for its own account, or for one or more
accounts with respect to which such person exercises sole investment discretion, and such person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule
144A and such Subject Securities are being transferred in compliance with any applicable securities laws of any state of the United States. 
 The Bank of New York Mellon and GMAC Inc. are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or
legal proceedings or official inquiry with respect to the matters covered hereby. 
  

			
	Very truly yours,
	
	[Name of Transferor]
		
	By:	 	 
		 	 Name:2
 Date:

  

	2	 To be signed by an authorized signatory. 

  

 - 1 -

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