Document:

ex10-6.htm

Exhibit 10.6

 

NONSTANDARDIZED ADOPTION AGREEMENT

PROTOTYPE CASH OR DEFERRED PROFIT-SHARING PLAN

 

Sponsored by

 

Pentegra Retirement Services

 

The Employer named below hereby establishes a Cash or Deferred Profit-Sharing Plan for eligible Employees as provided in this Adoption Agreement and the accompanying Basic Plan Document #01.

 

I.             EMPLOYER INFORMATION

 

	
  

	
If more than one Employer is adopting the Plan, complete this section based on the lead Employer. Additional Employers who are members of the same controlled group or affiliated service group may adopt this Plan by completing and executing a Participation Agreement that, once executed, will become part of this Adoption Agreement.

 

A.            Name And Address:

 

First Federal Savings & Loan Association of Port Angeles

105 West 8th Street

Port Angeles, WA 98362

 

B.            Telephone Number: 360-457-0461

 

C.            Employer’s Tax ID Number: 91-0369590

 

	
  

	
D.

	
Form Of Business:

 

o           1.           Sole Proprietor                            o           5.           Limited Liability Company

 

o           2.           Partnership                                  o           6.           Limited Liability Partnership

 

x           3.           Corporation                                o           7.           _______________________________                                    

 

o           4.           S Corporation

 

E.             Is The Employer Part Of A Controlled Group?                 x  YES               o  NO

Part Of An Affiliated Service Group?                                 o  YES                x  NO

 

F.             Name Of Plan: First Federal Savings & Loan Association of Port Angeles 401(k) Plan

 

G.            Three Digit Plan Number: 002

 

H.            Employer’s Tax Year End: June 30

 

                I.               Employer’s Business Code: ______________________________________________________________________________  

 

II.           EFFECTIVE DATE

 

               A.             New Plan:

 

	
  

	
This is a new Plan having an Effective Date of December 1, 2012. The Effective Date may be no earlier than the Plan Year beginning after December 31, 2001 or if later, the first day of the Plan Year in which it is adopted.

 

  

	 1	 401(k) NS AA #010

  

 

               B.             Amended and Restated Plans:

 

This is an amendment and/or restatement of an existing Plan. The initial Effective Date of the Plan was ________________________________. The Effective Date of this amendment and/or restatement is ______________________. The Effective Date of the restated Plan may be no earlier than for Plan Years beginning after December 31, 2001.

 

               C.             Amended or Restated Plans for EGTRRA:

 

This is an amendment and/or restatement of an existing Plan to comply with the Economic Growth and Tax Relief Reconciliation Act of 2001, Pub. L. 107-17 (EGTRRA)]. The initial Effective Date of the Plan was ________________________________________. Except as provided for in the Plan, the Effective Date of this amendment and/or restatement is __________________________. (The restatement date should be no earlier than the first day of the current Plan Year. The Plan contains appropriate retroactive Effective Dates with respect to provisions of EGTRRA.)

 

Except to the extent permitted under Code Section 411(d)(6) and the Regulations issued thereunder, an Employer cannot reduce, eliminate or make subject to Employer discretion any Code Section 411(d)(6) protected benefit. Where this Plan document is being adopted to amend another plan that contains a protected benefit not provided for in the Basic Plan Document #01, the Employer may complete Schedule A as an addendum to this Adoption Agreement. Schedule A describes such protected benefits and shall become part of this Plan. If a prior plan document contains a plan feature not provided for in the Basic Plan Document #01, the Employer may attach Schedule B describing such feature. Provisions listed on Schedule B may not be covered by the IRS Opinion Letter issued with respect to the Basic Plan Document #01.

 

               D.             Effective Date for Elective Deferrals:

 

If different from above, the Elective Deferral provisions shall be effective __________________________.

 

               E.             Effective Date for Safe Harbor 401(k) Contributions:

 

If different from above, this provision shall be effective __________________________. This provision must be adopted prior to the first day of the Plan Year and remain in effect for an entire twelve (12) month period.

 

       F.              Effective Date for Roth Elective Deferrals:

 

If different from above, Roth Elective Deferral provisions shall be effective __________________________. The Effective Date of this provision cannot be earlier than January 1, 2006.

 

               G.             Frozen Plan:

 

This Plan was frozen effective __________________________. For any period following this Effective Date, neither the Employer nor any Participant may contribute to this Plan, and no otherwise eligible Employee shall become a Participant in this Plan. All existing account balances will become fully vested as of the date specified above.

 

  

	 2	 401(k) NS AA #010

  

 

III.           DEFINITIONS

 

	
  

	
A.

	
“Compensation”

 

	
  

	
Select the definition of Compensation, the Compensation Computation Period, any Compensation Dollar Limitation and Exclusions from Compensation for each contribution type from the options listed below. Enter the letter of the option selected on the lines provided below. Leave the line blank if no election needs to be made. The Compensation Computation Period must be the same as the Limitation Year defined at Section III(F).

 

	
 

  Employer

  Contribution Type

	
 

  Compensation

  Definition

	
 Compensation

 Computation

 Period

	
 

  Compensation

  Dollar Limitation

	
  Exclusions

  From

  Compensation

	
  All Contributions

	
d

	
b

	
  $

	
b, c, g, j

	
  Elective Deferrals (including 

  Roth Elective Deferrals, if applicable)

	  	  	
  $

	  
	
  Voluntary After-tax

	  	  	
  $

	  
	
  Required After-tax

	  	  	
  $

	  
	
  Matching Contribution

  (Formula 1)

	  	  	
  $

	  
	
  Matching Contribution

  (Formula 2)

	  	  	
  $

	  
	
  Non-Elective Contribution

  (Formula 1)

	  	  	
  $

	  
	
  Non-Elective Contribution

  (Formula 2)

	  	  	
  $

	  
	
  Safe Harbor Contribution

	  	  	
  N/A

	
N/A

	
  QNEC

	  	  	
  $

	  
	
  QMAC

	  	  	
  $

	  
	
  ADP/ACP Tests

	
d

	
b

	
  N/A

	
N/A

 

                               1.          Compensation Definition:

 

                                              a.           Code Section 3401(a) - W-2 Compensation subject to income tax withholding at the source, with all pre-tax contributions excluded.

 

                                              b.           Code Section 3401(a) - W-2 Compensation subject to income tax withholding at the source, with all pre-tax contributions included [Plan defaults to  this election].

 

                                              c.           Code Section 6041/6051 - Income reportable on Form W-2, with all pre-tax contributions excluded.

 

                                              d.          Code Section 6041/6051 - Income reportable on Form W-2, with all pre-tax contributions included.

 

                                              e.          Code Section 415 - All income received for services performed for the Employer, with all pre-tax contributions excluded.

 

                                               f.          Code Section 415 - All income received for services performed for the Employer, with all pre-tax contributions included.

 

                                             The selection of any of the above definitions of Compensation meets the Code Section 414(s) definition of Compensation. The Code Section 415 definition shall always apply with respect to sole proprietors and partners.

 

	
 o

	

2.

	
Deemed Compensation from permitted waiver of group health coverage under a Cafeteria Plan Arrangement: The Employer elects to include deemed Code Section 125 Compensation not available to a Participant in cash in lieu of group health coverage in the Plan’s definition of Compensation.

 

	
  

	
3.

	
Compensation Computation Period:

 

                                               a.          Compensation paid during a Plan Year while a Participant [Plan defaults to this election].

 

                                               b.         Compensation paid during the entire Plan Year.

     

                                               c.          Compensation paid during the Employer’s fiscal year.

              

                                               d.         Compensation paid during the calendar year.

 

	
  

	
4.

	
Compensation Dollar Limitation: The dollar limitation section does not need to be completed unless Compensation of less than the Code Section 401(a)(17) limit of $200,000 is to be used. When an integrated allocation formula in Section VI is selected, Compensation cannot be limited to an amount less than the maximum amount under Code Section 401(a)(17).

 

  

	 3	 401(k) NS AA #010

  

 

5.           Exclusions from Compensation (non-integrated plans only):

 

	
  

	
a.

	
There will be no exclusions from Compensation under the Plan [Plan defaults to this safe harbor election].

 

	
  

	
b.

	
Overtime

 

	 	
c.

	
Bonuses

 

	 	
d.

	
Commissions

                

	 	
e.

	

Exclusion applies only to Participants who are Highly Compensated Employees [safe harbor].

  

	 	
f.

	

Holiday and vacation pay

 

	 	
g.

	

Reimbursements or other expense allowances, fringe benefits (cash and non-cash), moving expenses, deferred compensation, and welfare benefits [safe harbor].

 

	 	
h. 

	

Post-severance payments, as described in paragraph 1.17(c)(6) of Basic Plan Document #01. (This exclusion may apply no earlier than the 2005 Limitation Year.)

 

	 	

i.

	

Compensation in excess of $__________________________ for Highly Compensated Employees [safe harbor].

 

	 	

j.

	

Other: Commissions in excess of $50,000

 

	 	

Any exclusion of Compensation except (a), (e), (g), (h) and (i) must satisfy the requirements of Section 1.401(a)(4) of the Income Tax Regulations and Code   Section 414(s) and the Regulations thereunder. These exclusions do not fall under the “safe harbor” modifications to Compensation and therefore must be tested to determine if the modified definition of Compensation satisfies Code Section 414(s).

 

	
  

	
B.

	
“Disability”

 

	
  

	
x

	
1.

	
As defined in the Basic Plan Document #01 [Plan defaults to this election].

 

	
  

	
o

	
2.

	
As defined in the Employer’s Disability Insurance Plan.

 

	 	
o

	

3.

	

An individual will be considered to be disabled if he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or to be of long, continued and indefinite duration. An individual shall not be considered to be disabled unless he or she furnishes proof of the existence thereof in such form and manner as the Secretary of the Treasury may prescribe.

 

	
  

	
C.

	
“Highly Compensated Employees – Top-Paid Group Election”

 

	
  

	
1.

	
Top-Paid Group Election: In determining who is a Highly Compensated Employee, the Employer may make the Top-Paid Group election. The effect of this election is that an Employee (who is not a 5% owner at any time during the determination year or the look-back year) who earned more than $95,000, as indexed for the look-back year, is a Highly Compensated Employee if the Employee was in the Top-Paid Group for the look-back year. This election is applicable for the Plan Year in which this Plan is effective.

                

	 	
x

	
a. 

	
The Employer does not make the Top-Paid Group election.

 

	
  

	
o

	
b.

	
The Employer makes the Top-Paid Group election [Plan defaults to this election].

 

	 	
o

	

2.

	

Calendar Year Data Election: If the Plan Year is not the calendar year, the prior year computation period for purposes of determining if an Employee earned more than $95,000, as indexed, is the calendar year beginning in the prior Plan Year. This election is applicable for the Plan Year in which this Plan is effective.

 

  

	 4	 401(k) NS AA #010

  

 

	
  

	
D.

	
“Hours Of Service”

 

Hours shall be determined by the method selected below. The method selected shall be applied to all Employees:

 

	
  

	
o

	
1.

	
Not applicable. A Year of Service (Period of Service) is defined using the Elapsed Time method.

 

	 	

x

	

2.

	

On the basis of actual hours for which an Employee is paid or entitled to payment [Plan defaults to this election].

 

	 	
o

	

3.

	

On the basis of days worked. An Employee shall be credited with ten (10) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the day.

 

	 	
o

	

4.

	

On the basis of weeks worked. An Employee shall be credited with forty-five (45) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the week.

 

	 	
o

	

5.

	

On the basis of semi-monthly payroll periods. An Employee shall be credited with ninety-five (95) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the semi-monthly payroll period.

 

	 	
o

	

6.

	

On the basis of months worked. An Employee shall be credited with one-hundred-ninety (190) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the month.

 

	 	

E.

	

“Integration Level”

 

	 	

x

	

1.

	

Not applicable. Either the Plan’s allocation formula is not integrated with Social Security or there are no Non-Elective Employer Contributions being made to the Plan [Plan defaults to this election].

 

	
  

	
o

	
2.

	
 The Taxable Wage Base.

 

	
  

	

o

	
3.

	
 ________% (not more than 100%) of the Taxable Wage Base.

 

	
  

	

o

	
4.

	
  $________, provided that such amount is not in excess of the amount determined under paragraph (E)(2) above.

 

	
  

	
o

	
5.

	
  One dollar over 80% of the Taxable Wage Base.

 

	
  

	

o

	
6.

	
  20% of the Taxable Wage Base.

 

	 	

F.  

	

“Limitation Year”

        

	
  

	
Unless elected otherwise below, the Limitation Year shall be the Plan Year.

 

	
  

	
The twelve (12) consecutive month period commencing on July 1 and ending on June 30.

 

	 	

 

	

If applicable, there will be a short Limitation Year commencing on December 1, 2012 and ending on June 30, 2013. Thereafter, the Limitation Year shall end on the date specified above.

 

  

	 5	 401(k) NS AA #010

  

 

	 	

G.

	

“Net Profit”

 

	
  

	
x

	
1.

	
Not applicable. Employer contributions to the Plan are not conditioned on profits [Plan defaults to this election].

 

	
  

	

o

	
2.

	
Net Profits are required for making Employer contributions and are defined as follows:

 

	
  

	

o

	
a.

	
As defined in the Basic Plan Document #01.

 

	
  

	

o

	
b.

	
Net Profits will be defined in a uniform and nondiscriminatory manner which will not result in a deprivation of an eligible Participant of any Employer Contribution.

 

	
  

	
c.

	
Net Profits are required for the following types of contributions:

 

	 	

o 

	
i. 

	
Employer Matching Contributions (Formula 1).

 

	 	

o  

	
ii.  

	
Employer Matching Contributions (Formula 2).

                    

	 	

o  

	

iii.

	
Employer QNEC and QMAC Contributions.

                

	 	

o  

	

iv. 

	
Non-Elective Employer Contributions (Formula 1).

           

	 	

o  

	

v. 

	
Non-Elective Employer Contributions (Formula 2).

          

Elective Deferrals, Top-Heavy minimums (if required), and Safe Harbor Contributions (if applicable) must be contributed regardless of profits.

 

	 	

H.

	

“Plan Year”

 

	
  

	
The 12-consecutive month period commencing on July 1 and ending on June 30.

 

                              If applicable, there will be a short Plan Year commencing on December 1, 2012 and ending on June 30, 2013. Thereafter, the Plan Year shall end on the date specified above.

 

	 	

I.

	

“QDRO Payment Date”

           

	 	
x

	

1.

	

The date the QDRO is determined to be qualified [Plan defaults to this election].

 

	
  

	
o

	
2.

	
The statutory age fifty (50) requirement applies for purposes of making distribution to an alternate payee under the provisions of a QDRO.

 

	 	

J.

	

“Qualified Joint and Survivor Annuity”

 

	
  

	
x

	
1.

	
Not applicable. The Plan is not subject to Qualified Joint and Survivor Annuity rules. The safe harbor provisions of paragraph 8.7 of the Basic Plan Document #01 apply. The normal form of payment is a lump sum. No annuities are offered under the Plan [Plan defaults to this election].

 

	
  

	
o

	
2.

	
The normal form of payment is a lump sum. The Plan does provide for annuities as an optional form of payment at Section XVI(D) of the Adoption Agreement. The Plan’s Joint and Survivor Annuity rules are avoided and the safe harbor provisions of paragraph 8.7 of the Basic Plan Document #01 will apply, unless the Participant elects to receive his or her distribution in the form of an annuity. If this option is selected, Section III(K) below must also be completed.

 

	
  

	
o

	
3.

	
The Joint and Survivor Annuity rules are applicable and the survivor annuity will be ________% (50%, 66-2/3%, 75% or 100%) of the annuity payable during the lives of the Participant and his or her Spouse. If no selection is specified, 50% shall be deemed elected.

 

	 	

K. 

	

“Qualified Pre-Retirement Survivor Annuity”

 

                             Do not complete this section if paragraph (J)(1) was elected.

 

	
  

	
o

	
1.

	
The Qualified Pre-Retirement Survivor Annuity shall be 100% of the Participant’s Vested Account Balance in the Plan as of the date of the Participant’s death.

 

	
  

	
o

	
2.

	
The Qualified Pre-Retirement Survivor Annuity shall be 50% of the Participant’s Vested Account Balance in the Plan as of the date of the Participant’s death.

 

                             If this provision applies but no selection is made, the Qualified Pre-Retirement Survivor Annuity shall be 50%.

 

  

	 6	 401(k) NS AA #010

  

 

L.           “Valuation of Plan Assets”

 

	
  

	
The assets of the Plan shall be valued on the last day of the Plan Year and on the following Valuation Date(s):

 

o          1.           There are no other mandatory Valuation Dates.

 

x         2.           The Valuation Dates are applicable for the contribution type specified below:

 

	
 

Contribution Type

	
 

Valuation Date

	
  All Contributions

	
a

	
  Elective Deferrals (including Roth Elective Deferrals, if applicable)

	  
	
  Voluntary After-tax Contributions

	  
	
  Required After-tax Contributions

	  
	
  Deemed IRA Contribution

	  
	
  Matching Contributions (Formula 1)

	  
	
  Matching Contributions (Formula 2)

	  
	
  Non-Elective Contributions (Formula 1)

	  
	
  Non-Elective Contributions (Formula 2)

	  
	
  Safe Harbor Contributions

	  
	
  QNEC

	  
	
  QMAC

	  

 

                                            a.            Daily valued.

 

                                           b.           The last day of each month.

 

                                           c.           The last day of each quarter in the Plan Year.

 

                                           d.           The last day of each semi-annual period in the Plan Year.

 

                                             e.            Other: __________________________________________

                                                         __________________.

                                                         (Note: Date must be at least once during the Plan Year.)

.

IV.           ELIGIBILITY REQUIREMENTS

 

Complete the following using the eligibility requirements as specified for each contribution type. To become a Participant in the Plan, the Employee must satisfy the following eligibility requirements.

 

	
 

 

  Contribution Type

	
 

  Minimum

  Age

	
 

  Service

  Requirement

	
 

  Class

  Exclusions

	
  Eligibility

  Computation

  Period

	
 

 

  Entry Date

	
 

  All Contributions

	  	  	  	  	  
	
 

  Elective Deferrals (including Roth Elective

  Deferrals, if applicable)

	
21

	
1

	
N/A

	
1

	
2

	
 

  Voluntary After-tax Contributions

	  	  	  	  	  
	
 

  Required After-tax Contributions

	  	  	  	  	  
	
 

  Matching Contributions

  (Formula 1)

	
21

	
5

	
N/A

	
3

	
2

 

	
  Matching Contributions

  (Formula 2)

	  	  	  	  	  
	
  Non-Elective Contributions (Formula 1)

	  	  	  	  	  
	
  Non-Elective Contributions (Formula 2)

	  	  	  	  	  
	
  Safe Harbor Contributions*

	  	  	  	  	  
	
 

  QNECs

	  	  	  	  	  
	
 

  QMACs

	  	  	  	  	  

 

  

	7	 401(k) NS AA #010

  

 

	
  

	
*If any age or Service requirement selected is more restrictive than that which is imposed on any Employee contribution, that group of Employees will be subject to the ADP and/or ACP testing as prescribed under applicable IRS Regulations

 

A.            Age:

 

1.            No age requirement.

 

	
  

	
2.

	
Insert the applicable age in the chart above. The age may not be more than twenty-one (21).

 

               B.             Service:

 

The maximum Service requirement for Elective Deferrals is one (1) year. For all other contributions, the maximum is two (2) years. If a Service requirement greater than one (1) year is selected, Participants must be 100% vested in that contribution.

 

	
  

	
1.

	

No Service requirement.

 

	
  

	
2.

	
Completion of _______ Days of Service. [No more than 730 Days of Service may be required; if more than 365 days are entered here, Participants must be 100% vested upon entering the Plan.]

 

	
  

	
3.

	
Completion of _______ months of Service [No more than twenty-four (24) months of Service may be required; if more than twelve (12) months are entered here, Participants must be 100% vested upon entering the Plan.]

 

	
  

	
4.

	
Completion of _______ months of Service [No more than twenty-four (24) months of Service may be required; if more than twelve (12) months are entered here, Participants must be 100% vested upon entering the Plan.]

 

	
  

	
5.

	
One (1) Year of Service or Period of Service.

 

	
  

	
6.

	
Two (2) Years of Service or Periods of Service.

 

	
  

	
7.

	
One (1) Expected Year of Service. An Employee whose position is required as a condition of employment to work a Year of Service may enter after six (6) months of actual Service.

 

	
  

	
8.

	
One (1) Expected Year of Service. An Employee whose position is required as a condition of employment to work a Year of Service may enter after __________ months of actual Service [must be twelve (12) months or less].

 

	
  

	
9.

	
One (1) Expected Year of Service. An Employee whose position is required as a condition of employment to work a Year of Service may enter after __________ months of actual Service [must be twelve (12) months or less].

 

	
  

	
10.

	
Completion of ___________ Hours of Service (1,000 hours or less) within the ___________ month(s) time period [the monthly period must be a pro-ration of twelve (12) months or less] following an Employee’s commencement of employment. An Employee who is otherwise eligible who meets the statutory one (1) Year of Service requirement and any age requirement if applicable, shall participate in the Plan not later than the earlier of the first day of the first Plan Year after the Employee has met the statutory requirements or six (6) months after the day such requirements are met.

 

  

	8	 401(k) NS AA #010

  

11.           Completion of ___________ Hours of Service (may not be more than 1,000 Hours).

 

	
  

	
C.

	
Method for Measuring Service Eligibility Period (do not enter this method in the table above):

 

	
  

	
 

	

A Year of Service for eligibility purposes is defined as follows (choose one):

 

	
  

	
o

	
1.

	
Not applicable.

 

	
  

	
x

	
2.

	

Hours of Service method.  A Year of Service will be credited upon completion of 1000 Hours of Service.  A Year of Service for eligibility purposes may not be less than one (1) Hour of Service nor greater than 1,000 hours by operation of law.  If left blank, the Plan will use 1,000 hours.

 

	
  

	
o

	
3.

	
Elapsed Time method

 

	
  

	
D.

	

Employee Class Exclusions:

 

The exclusion of any classification may cause the Plan to fail the ratio percentage test under Code Section 410(b)(1)(A) or (B) which may require the Plan to be tested under the average benefits test of Code Section 410(b)(1)(C).

 

	
  

	
1.

	
Employees included in a unit of Employees covered by a collective bargaining agreement between the Employer and Employee Representatives, if benefits were the subject of good faith bargaining and if two percent or less of the Employees are covered pursuant to the agreement are professionals as defined in Regulations Section 1.410(b)-9, unless participation in this Plan is specifically provided for in the collective bargaining agreement.  For this purpose, the term “employee representative” does not include any organization more than half of whose members are owners, officers, or executives of the Employer.

 

	
  

	
2.

	
Employees who are non-resident aliens [within the meaning of Code Section 7701(b)(1)(B)] who receive no Earned Income [within the meaning of Code Section 911(d)(2)] from the Employer which constitutes income from sources within the United States [within the meaning of Code Section 861(a)(3)].

 

	
  

	
3.

	
Employees compensated on an hourly basis.

 

	
  

	
4.

	
Employees compensated on a salaried basis.

 

	
  

	
5.

	
Employees compensated on a commission basis.

 

	
  

	
6.

	
Leased Employees.

 

	
  

	
7.

	
Highly Compensated Employees.

 

	
  

	
8.

	
Key Employees.

 

	
  

	
9.

	
Employees of any member of the controlled and/or affiliated service group Employer whose Employer does not affirmatively adopt this Plan.

 

	
  

	
10.

	
The Plan shall exclude from participation any nondiscriminatory classification of Employees determined as follows (any exclusion must pass coverage and nondiscrimination testing):

	
  

	
 

	
 

	
  

	
 

	
 

 

	
  

	
E.

	
Eligibility Computation Period:

 

	
  

	
The initial eligibility computation period shall commence on the date on which an Employee first performs an Hour of Service and end with the first anniversary thereof.  Each subsequent computation period shall commence on:

 

	
  

	
1.

	
Not applicable.  The Plan has a Service requirement of less than one (1) year or uses the Elapsed Time method to determine eligibility.

 

  

	9	 401(k) NS AA #010

  

 

	
  

	
2.

	
The anniversary of the Employee’s employment commencement date and each subsequent twelve (12) consecutive month period thereafter.

 

	
  

	
3.

	
The first day of the Plan Year which commences prior to the first anniversary date of the Employee’s employment commencement date and each subsequent Plan Year thereafter.

 

	
  

	
F.

	

Entry Date:

 

	
  

	
1.

	
The Employee’s date of hire.

 

	
  

	
2.

	
The first day of the month coinciding with or next following the date on which an Employee meets the eligibility requirements.

 

	
  

	
3.

	
The first day of the payroll period coinciding with or next following the date on which an Employee meets the eligibility requirements, or as soon as administratively feasible thereafter.

 

	
  

	
4.

	
When the Days of Service method is selected at Section IV(B)(2), the Entry Date shall be the day the Employee meets the eligibility requirements, or as soon as administratively feasible thereafter.

 

	
  

	
5.

	
The earlier of the first day of the Plan Year, or the first day of the fourth, seventh or tenth month of the Plan Year coinciding with or next following the date on which an Employee meets the eligibility requirements.

 

	
  

	
6.

	
The earlier of the first day of the Plan Year or the first day of the seventh month of the Plan Year coinciding with or next following the date on which an Employee meets the eligibility requirements.

 

	
  

	
7.

	
The first day of the Plan Year following the date on which the Employee meets the eligibility requirements.  If this election is made, the Service waiting period cannot be greater than one-half year and the minimum age requirement may not be greater than age twenty and one-half (201⁄2).

 

	
  

	
8.

	
The first day of the Plan Year nearest the date on which an Employee meets the eligibility requirements.  This option can only be selected for Employer related contributions.

 

	
  

	
9.

	
The first day of the Plan Year during which the Employee meets the eligibility requirements.  This option can only be selected for Employer related contributions.

 

	
  

	
10.

	
Other: ________________________.

This option may not require an entry date more than two (2) months following the date on which an Employee meets the eligibility requirements.

 

	
  

	
G.

	

Employees on Effective Date:

 

If option (1) is selected, options (2) and (3) should not be selected.  Options (2) and (3) can be selected or just option (2) or (3).

 

	
  

	
x

	
1.

	

All Employees will be required to satisfy both the age and Service requirements specified above.

 

	
  

	
o

	
2.

	

Employees employed on the Plan’s Effective Date do not have to satisfy the age requirement specified above.

 

	
  

	
o

	
3.

	

Employees employed on the Plan’s Effective Date do not have to satisfy the Service requirement specified above.

 

  

	 10	 401(k) NS AA #010

  

 

	
  

	
H.

	

Special Waiver of Eligibility Requirements:

 

	
  

	
 

	
The age and/or Service eligibility requirements specified above shall be waived for the eligible Employees specified below who are employed on the specified date for the contribution type(s) specified.  This waiver applies to either the age or Service requirement or both as elected below.

 

	
 

Waiver Date

	
Waiver of Age

Requirement

	
Waiver of Service

Requirement

	
 

Contribution Type

	  	  	  	
All Contributions

	  	  	  	
Elective Deferrals (including Roth Elective Deferrals, if applicable)

	  	  	  	
Matching Contribution (Formula 1)

	  	  	  	
Matching Contribution (Formula 2)

	  	  	  	
Non-Elective Contribution (Formula 1)

	  	  	  	
Non-Elective Contribution (Formula 2)

	  	  	  	
Safe Harbor Contribution

	  	  	  	
QNEC

	  	  	  	
QMAC

 

The waiver above applies to:

 

o           1.           All eligible Employees employed on the specified date.

 

o           2.           The indicated class of Employees employed on the specified date.

	 	 
	 	 

Note:  Any selection here may cause the Plan to be discriminatory in operation and therefore would have to be tested for nondiscrimination.

 

	
V.

	
RETIREMENT AGES

 

	
  

	
A.

	
Normal Retirement:

 

Select option (1) or (2) and either (3)(a) or (3)(b).

 

	
  

	
x

	
1.

	
Normal Retirement Age shall be age 65 [not to exceed sixty-five (65)].

 

	
  

	

o

	
2.

	
Normal Retirement Age shall be the later of attaining age ________ [not to exceed age sixty-five (65)] or the ________ (not to exceed the fifth) anniversary of the first day of the first Plan Year in which the Participant commenced participation in the Plan.

 

	
  

	
3.

	
The Normal Retirement Date shall be:

 

	
  

	
o

	
a.

	
as of the date the Participant attains Normal Retirement Age [Plan defaults to this election].

 

	
  

	
x

	
b.

	
the first day of the month next following the Participant’s attainment of Normal Retirement Age.

 

B.           Early Retirement:

 

x           1.           Not applicable.

 

	
  

	
o

	
2.

	
The Plan shall have an Early Retirement Age of ________ [not less than age fifty-five (55)] and completion of ________ Years of Service.

 

	
  

	
3.

	
The Early Retirement Date shall be:

 

	
  

	
o

	
a.

	
as of the date the Participant attains Early Retirement Age [Plan defaults to this election].

 

	
  

	

o

	
b.

	
the first day of the month next following the Participant’s attainment of Early Retirement Age.

 

  

	 11	 401(k) NS AA #010

  

 

VI.           CONTRIBUTIONS TO THE PLAN

 

The Employer shall make contributions to the Plan in accordance with the formula or formulas selected below.  The Employer’s contribution shall be subject to the limitations contained in Articles III and X of the Basic Plan Document #01.  For this purpose, a contribution for a Plan Year shall be limited by Compensation earned in the Limitation Year that ends with or within such Plan Year. For Limitation Years beginning on or after January 1, 2002, except to the extent permitted under paragraph 4.6(h) of the Basic Plan Document #01 and under Code Section 414(v), the Annual Addition that may be contributed or allocated to a Participant’s account under the Plan for any Limitation Year beginning after December 31, 2001 shall not exceed the lesser of (a) $40,000, as adjusted for increases in the cost-of-living under Code Section 415(d), or (b) 100% of the Participant’s Compensation within the meaning of Code Section 415(c)(3), for the Limitation Year.

 

	
  

	
A.

	
Elective Deferrals:

 

1.           Participants shall be permitted to make Elective Deferrals:

 

	
  

	
x

	
a.

	

in any amount up to 20% (may be no more than 100%) of Compensation.

 

	
  

	
o

	
b.

	

in any amount from a minimum of _______% (may be no less than 1%) to a maximum of _______% (may be no more than 100%) of their Compensation not to exceed $__________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

	
  

	
o

	
c.

	

in a flat dollar amount from a minimum of $______________ (may be no less than $500) to a maximum of $_____________, [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable] not to exceed ______% (no more than 100%) of their Compensation.

 

	
  

	
o

	
d.

	

in any amount up to the maximum percentage of Compensation and dollar amount permissible under Code Section 402(g) and 414(v) not to exceed the limits of Code Section 401(k), 404 and 415.

 

	
  

	
o

	
e.

	

Highly Compensated Employees may defer any amount up to ____% (may be no more than 100%) of Compensation or $__________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

	
  

	
x

	
f.

	
Catch-up Contributions may be made by eligible Participants.

 

	
  

	
2.

	
Participants shall be permitted to terminate their Elective Deferrals (including Roth Elective Deferrals, if any) at any time upon proper and timely notice to the Employer.  Modifications and reinstatement of Participants’ Elective Deferrals will become effective as soon as administratively feasible on a prospective basis as provided for below:

 

	 	
Modifications

	 	
Reinstatement

	 	
Method

	
 

	  	
  o

	 	

  o

	 	
On a daily basis.

	  	
  o

	 	

  o

	 	
On the first day of each quarter.

	  	
  o

	 	

  o

	 	
On the first day of the next month.

	  	
  x

	 	

  x

	 	
The beginning of the next payroll period.

	  	
  o

	 	

  o

	 	
On the first day of the next semi-annual period.

	  	
  o

	 	
n/a

	 	
Upon _____ days notice to the Plan Administrator.

	  	
n/a

	 	
  o

	 	
Upon _____ days notice to the Plan Administrator.

 

	
o

	
B.

	
Roth Elective Deferrals:

 

If Participants are permitted to make Elective Deferrals, they shall also be permitted to make Roth Elective Deferrals.  Roth Elective Deferrals may be treated as Catch-Up Contributions.

 

  

	 12	 401(k) NS AA #010

  

 

	
  

	
C.

	
Bonus Option:

 

	
  

	
o

	
1.

	
Not applicable. The Plan’s definition of Compensation excludes bonuses from deferrable Compensation for both Elective Deferrals and Roth Elective Deferrals.

 

	
  

	
x

	
2.

	
Not applicable.  Participants are not permitted to make a separate deferral election and the Participant’s deferral amount elected on their Salary Deferral Agreement will also apply to any bonus received by the Participant for any Plan Year.

 

	
  

	
o

	
3.

	
The Employer permits a Participant to amend his or her deferral election to defer to the Plan an amount not to exceed __________% (may be no more than 100%) or $_________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable] of any bonus received by the Participant for any Plan Year.

 

	
o

	
D.

	
Automatic Enrollment:

 

The Employer elects the automatic enrollment provisions for Elective Deferrals as follows. Automatic enrollment in Roth Elective Deferrals is not permitted under the Plan.  The automatic enrollment provisions apply to all eligible Employees.  Employees and Participants shall have the right to amend the stated automatic Elective Deferral percentage or receive cash in lieu of deferral into the Plan.

        

	
  

	
1.

	
RESERVED

 

	
 o

	
2.

	

Automatic Deferrals:

 

	
  

	
a.

	
New Employees:  Employees who have not met the eligibility requirements shall have Elective Deferrals withheld in the amount of ________% (not more than 10%) of Compensation or $________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable] upon entering the Plan.

	
  

	 

	
  

	
o

	
i.

	
On an annual basis the Elective Deferral rate under the Plan shall be increased up to a maximum amount determined by the Employer.

 

	
  

	
o

	
ii.

	
After _____ Years of Service, the amount specified above shall increase to ____% (no more than 10%) or $______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

	
  

	
o

	
This requirement is effective for Employees hired on or after ______________________.

 

	
  

	
o

	
b.

	
Current Employees:  Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ % (not more than 10%) of Compensation or $_________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

	
  

	
o

	
i.

	
On an annual basis the Elective Deferral rate under the Plan shall be increased up to a maximum amount determined by the Employer.

 

	
  

	
o

	
ii.

	
After _____ Years of Service, the amount specified above shall increase to _____% (no more than 10%) or $_______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

	
  

	
o

	
c.

	
Current Participants:  Current Participants who are deferring at a percentage less than the amount selected herein shall have Elective Deferrals withheld in the amount of  ________% (not more than 10%) of Compensation or $________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

	
  

	
o

	
i.

	
On an annual basis the Elective Deferral rate under the Plan shall be increased up to a maximum amount determined by the Employer.

 

	
  

	
o

	
ii.

	
After _____ Years of Service, the amount specified above shall increase to _____% (no more than 10%) or $_______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

  

	 13	 401(k) NS AA #010

  

 

Employees and Participants shall have the right to amend the stated automatic Elective Deferral provisions or receive cash in lieu of deferral into the Plan.  For purposes of this provision, Employees returning an election form indicating a “zero” deferral amount shall be deemed “Current Participants”.

 

	
  

	
E.

	
Voluntary After-tax Contributions:

 

If the Employer wishes to reserve the right to recharacterize Elective Deferrals as Voluntary After-tax Contributions in order to pass the ADP/ACP Test, this section must be completed.

 

	
  

	
x

	
1.

	
The Plan does not permit Voluntary After-tax Contributions.

 

	
  

	
o

	
2.

	
Participants may make Voluntary After-tax Contributions in any amount from a minimum of ________% (may not be less than 1%) to a maximum of ______% (may be no more than 100%) of their Compensation or a flat dollar amount from a minimum of $____________ (may not be less than $1,000) to a maximum of $______________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

	
  

	
o

	
3.

	
Participants may make Voluntary After-tax Contributions in any amount up to the maximum permitted by law.

 

	
  

	
o

	
4.

	
The maximum combined limit of Elective Deferrals, Roth Elective Deferrals, and Voluntary After-tax Contributions will not exceed ______% (may be no more than 100%) of Compensation or $_______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

	
  

	
F.

	
Required After-tax Contributions (for Thrift Savings Plans only):

 

	
  

	
x

	
1.

	
The Plan does not permit Required After-tax Contributions.

 

	
  

	
o

	
2.

	
Participants shall be required to make Required After-tax Contributions as follows:

 

o            a.             ________% (may be no more than 100%) of Compensation.

 

o            b.             A percentage determined by the Employee.

 

o            c.             A flat dollar amount of $________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

o            d.             The maximum combined limit of Elective Deferrals, Roth Elective Deferrals and Required After-tax Contributions will not exceed ______% (may be no   more than 100%) of Compensation or $_______  [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

	
  

	
G.

	

Rollover Contributions:

 

	
  

	
o

	
1.

	
The Plan does not accept Rollover Contributions.

 

	
  

	
x

	
2.

	
Rollover Contributions may be made:

 

	
  

	
o

	
a.

	
after meeting the eligibility requirements for participation in the Plan.

 

	
  

	
x

	
b.

	
prior to meeting the eligibility requirements for participation in the Plan.

 

	
  

	
3.

	
The Plan will accept a Participant Rollover Contribution of an Eligible Rollover Distribution from (check only those that apply):

 

	
  

	
x

	
a.

	
A Qualified Plan described in Code Section 401(a) or 403(a).

 

	
  

	
x

	
b.

	
An annuity contract described in Code Section 403(b).

 

	
  

	
x

	
c.

	

An eligible plan under Code Section 457(b) which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state.

 

  

	 14	 401(k) NS AA #010

  

 

	 	 	x	
d.

	
An Individual Retirement Account (which was not used as a conduit from a Qualified Plan) or Annuity described in Code Section 408(a) or 408(b) that is eligible to be rolled over and would otherwise be includable in gross income.

	 	 	 	 
	  	  	
4.

	
The Plan will accept a Direct Rollover of an Eligible Rollover Distribution from (check only those that apply):

	 	 	 	 
	  	  	
x

	
a.

	
A Qualified Plan described in Code Section 401(a) or 403(a), excluding Voluntary After-tax Contributions.

	 	 	 	 	 
	  	  	
o

	
b.

	
A Qualified Plan described in Code Section 401(a) or 403(a), including Voluntary After-tax Contributions.

	 	 	 	 	 
	  	  	
x

	
c.

	
An annuity contract described in Code Section 403(b), excluding Voluntary After-tax Contributions.

	 	 	 	 	 
	  	  	
o

	
d.

	
An annuity contract described in Code Section 403(b), including Voluntary After-tax Contributions.

	 	 	 	 	 
	  	  	
x

	
e.

	
An eligible plan under Code Section 457(b) which is maintained by a state, political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state.

	  	  	  	  	  
	  	  	
o

	
f.

	
A Roth Elective Deferral Account if it is a Direct Rollover from another Roth Elective Deferral Account under a Qualified Plan described in Code Section 402A(e)(1) and only to the extent the rollover is permitted under Code Section 402(c).

	  	  	  	  	  
	  	
H.

	
Deemed IRA Contributions/Reserved:

 

	  	
x

	
1.

	
The Plan does not accept any Deemed IRA contributions.

	  	  	  	  
	  	
o

	
2.

	
Deemed IRA contributions may be made to this Plan for Plan Years beginning ___________ (may be no earlier than January 1, 2003):

	  	  	  	  
	  	  	
o

	
a.

	
In accordance with the Traditional IRA rules as described in the Basic Plan Document #01. An Individual must meet the eligibility requirements for participation in the Plan in order to make a “Deemed IRA” contribution.

	  	  	  	  	  
	  	  	
o

	
b.

	
In accordance with the Roth IRA rules as described in the Basic Plan Document #01. An Individual must meet the eligibility requirements for participation in the Plan in order to make a “Deemed IRA” contribution.

	  	  	  	  	  
	
o

	
I.

	
Safe Harbor Plan Provisions:

	  	  	  	  	  
	  	  	
If the Safe Harbor Plan provisions are elected, the nondiscrimination tests at Article XI of the Basic Plan Document #01 are not applicable. Safe Harbor Contributions made are subject to the withdrawal restrictions of Code Section 401(k)(2)(B) and Treasury Regulation Section 1.401(k)-1(d); such contributions (and earnings thereon) must not be distributable earlier than severance from employment, death, Disability, an event described in Code Section 401(k)(10), or in the case of a profit-sharing or stock bonus plan, the attainment of age 591⁄2. Safe Harbor Contributions are NOT available for Hardship withdrawals.

	  	  	  
	  	  	
The ACP Test Safe Harbor is automatically satisfied if the only Matching Contribution to the Plan is either a Basic Matching Contribution or an Enhanced Matching Contribution that does not provide a match on Elective Deferrals in excess of 6% of Compensation. For Plans that allow Voluntary or Required After-tax Contributions, the ACP Test is applicable with regard to such contributions.

	  	  	  
	  	  	
Employees eligible to make Elective Deferrals to this Plan must be eligible to receive the Safe Harbor Contribution in the Plan listed below, to the extent required by applicable IRS Regulations.

	  	  	  
	  	  	
The Employer elects to comply with the Safe Harbor Cash or Deferred Arrangement provisions of Article XI of the Basic Plan Document #01 and elects one of the following contribution formulas:

 

  

	 15	 401(k) NS AA #010

  

 

	  	  	
1.

	
Safe Harbor Tests:

	  	  	  	  	  
	  	  	
o

	
a.

	
Only the ADP Test Safe Harbor provisions are applicable. A formula in paragraphs (3), (4) or (5) below has been selected and the ADP Safe Harbor has been satisfied.

	  	  	  	  	  
	  	  	
o

	
b.

	
Only the ACP Test Safe Harbor provisions are applicable. No additional Matching Contributions would be needed in order to satisfy the ACP Safe Harbor if the Plans satisfies the Basic or Enhanced Match.

	  	  	  	  	  
	  	  	
o

	
c.

	
Both the ADP and ACP Test Safe Harbor provisions are applicable. If both ADP and ACP provisions are applicable:

	  	  	  	  	  
	  	  	  	
o

	
i.

	
No additional Matching Contributions will be made in any Plan Year in which the Safe Harbor provisions are used.

	  	  	  	  	  	  
	  	  	  	
o

	
ii.

	
The Employer may make Matching Contributions in addition to any Safe Harbor Matching Contributions elected below. [Complete provisions in Section VI(J) regarding Matching Contributions that will be made in addition to those Safe Harbor Matching Contributions made below.]

	  	  	  	  	  
	  	  	  	
Safe Harbor Contributions cannot be subject to an Hours of Service or employment on the last day of the Plan Year requirement.

	  	  	  	  	  
	  	
o

	
2.

	
Designation of Alternate Plan to Receive Safe Harbor Contribution: If the Safe Harbor Contribution as elected below is not being made to this Plan, the name of the other plan that will receive the Safe Harbor Contribution is: ___________________.

	  	  	  	  	  
	  	
o

	
3.

	
Basic Matching Contribution Formula: Matching Contributions will be made on behalf of Participants in an amount equal to 100% of the amount of the Eligible Participant’s Elective Deferrals that do not exceed 3% of the Participant’s Compensation and 50% of the amount of the Participant’s Elective Deferrals that exceed 3% of the Participant’s Compensation but that do not exceed 5% of the Participant’s Compensation.

	  	  	  	  	  
	  	
o

	
4.

	
Enhanced Matching Contribution Formula: Matching Contributions will be made in an amount equal to the sum of:

	  	  	  	  	  
	  	  	  	
a.

	
_________% of the Participant’s Elective Deferrals that do not exceed _________% of the Participant’s Compensation [insert a number that is three (3) or greater but not greater than six (6); if a number greater than six (6) is inserted or if left blank, this will not qualify as an Enhanced Matching Contribution Formula and the ADP test will apply], plus

	  	  	  	  	  
	  	  	
o

	
b.

	
_________% of the Participant’s Elective Deferrals that exceed _________% of the Participant’s Compensation but do not exceed _________% of the Participant’s Compensation [insert a number that is three (3) or greater but not greater than six (6) in the second blank. Both blanks should be completed so that at any rate of Elective Deferrals, the Matching Contribution is at least equal to the Matching Contribution receivable if the Employer were making a Basic Matching Contribution. The rate of match cannot increase as Elective Deferrals increase. If a number greater than six (6) is inserted or if left blank, this will not qualify as an Enhanced Matching Contribution Formula and the ACP Test will apply.]

	  	  	  	  	  
	  	  	  	  	
If an additional discretionary Matching Contribution is made, the dollar amount of that contribution may not exceed 4% of eligible Plan Compensation.

	  	  	  	  	  
	  	
o

	
5.

	Guaranteed Non-Elective Contribution Formula: The Employer shall make a Non-Elective Contribution equal to _________% (not less than 3%) of the Compensation of each Eligible Participant.

 

  

	 16	 401(k) NS AA #010

  

 

	  	
o

	
6.

	
Flexible Non-Elective Contribution Formula: This provision provides the Employer with the ability to amend the Plan to comply with the Safe Harbor provisions during the Plan Year. To provide such option, the Employer must amend the Plan and indicate on Schedule C that the Safe Harbor Non-Elective Contribution (not less than 3%) will be made for the specified Plan Year. Such election must comply with all the applicable notice requirements.

	  	  	  	  	  	  
	  	  	
Additional non-Safe Harbor Contributions may be made to the Plan pursuant to Section VI(J) hereof. Any additional contributions may be subject to nondiscrimination testing.

	  	  	  	  	  	  
	  	  	
7.

	
Limitations on Safe Harbor Matching Contributions: If a Safe Harbor Matching Contribution is made to the Plan:

	  	  	  	  	  	  
	  	  	
o

	
a.

	
The Employer elects to match Safe Harbor Matching Contributions on an annual basis.

	  	  	  	  	  	  
	  	  	
o

	
b.

	
The Employer elects to match actual Elective Deferrals made:

	  	  	  	  	  	  
	  	  	  	
o

	
i.

	
on a payroll basis [Plan defaults to this election].

	  	  	  	  	  	  
	  	  	  	
o

	
ii.

	
on a monthly basis.

	  	  	  	  	  	  
	  	  	  	
o

	
iii.

	
on a Plan Year quarterly basis.

	  	  	  	  	  	  
	  	  	  	
o

	
iv.

	
The Employer elects to true up Safe Harbor Matching Contributions made to the Plan on the above basis.

	  	  	  	  	  	  
	  	  	  	  	
If one of the Matching Contribution calculation periods at paragraph (7)(b) above is selected, Matching Contributions must be deposited to the Plan not later than the last day of the calendar quarter next following the quarter to which they relate.

	  	  	  	  	  	  
	  	  	
o

	
c.

	
The Employer will only contribute the Safe Harbor Contribution to Non-Highly Compensated Employees.

	  	  	  	  	  	  
	
x

	
J.

	
Matching Employer Contribution:

	  	  	  	  	  	  
	  	  	
Do not complete this section of the Adoption Agreement if the Plan only offers a Safe Harbor Contribution. A Plan that offers both a Safe Harbor Contribution as well as an additional Employer Contribution that is specified below, must complete both Sections VI(I) and VI(J) of this Adoption Agreement.

	  	  	  	  	  	  
	  	  	
Select the Matching Contribution Formula, Computation Period and special Limitations for each contribution type from the options listed below. Enter the letter of the option(s) selected on the lines provided. Leave the line blank if no election is required.

	  	  	  	  	  	  
	  	
o

	
The Matching Contribution(s) selected below will be deemed an additional discretionary ACP Test Safe Harbor Matching Contribution in accordance with the selection made at Section VI(I). The allocation of any additional Matching Contribution made by the Employer will not exceed 4% of eligible Compensation.

	  	  	  	  	  	  
	  	
o

	
The Matching Contribution(s) selected below will be deemed a discretionary contribution that will be subject to nondiscrimination testing.

 

	
 

 

Type of

Contribution

	
 

Matching

Contribution 

(Formula 1)

	
 

Matching

Computation 

Period

	
 

 

 

Limitations

	
 

Matching

Contribution 

(Formula 2)

	
 

Matching

Computation

Period

	
 

 

 

Limitations

	
Elective Deferrals (including Roth Elective Deferrals, if applicable)

	
a

	
a

	  	  	  	  
	
Voluntary After-tax

	  	  	  	  	  	  
	
Required

After-tax

	  	  	  	  	  	  
	
403(b) Deferrals

	  	  	  	  	  	  

 

  

	 17	 401(k) NS AA #010

  

 

	  	
If any election is made with respect to “403(b) Deferrals” above, and if this Plan is used to fund any Employer Contributions, Employer Contributions will be based on the Elective Deferrals made to an existing 403(b) plan sponsored by the Employer.

	  	  	  
	  	
Name of corresponding 403(b) plan, as applicable: __________________________________________________________________

	  	  	  
	  	
If the Matching Contribution formula selected by the Employer is 100% vested and may not be distributed to the Participant before the earlier of the date the Participant has a severance from employment, retires, becomes disabled, attains 591⁄2, or dies, it may be treated as a Qualified Matching Contribution.

	  	  	  
	  	
Matching Contribution Formulas may be subject to a minimum or maximum dollar or percentage limit.

	  	  	  
	  	
1.

	
Matching Contribution Formulas:

	  	  	  
	  	 	
Matching Contribution Formulas for Elective Deferrals and Roth Elective Deferrals:

	  	  	  
	  	
 

	
a.

	
Percentage of Deferral Match: The Employer shall contribute to each eligible Participant’s account an amount equal to 50% (no more than 500%) of the Participant’s Elective Deferrals up to a maximum of 6% (no more than the Annual Addition limit for the Plan Year) of Compensation or $_________ [no more than the Annual Addition limit for the Plan Year].

	  	  	  
	  	
 

	
b.

	
Uniform Dollar Match: The Employer shall contribute to each eligible Participant’s account $________ (no more than the Annual Addition limit for the Plan Year) if the Participant contributes at least ________% (no more than 100%) of Compensation or $__________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. The Employer’s contribution will be made up to a maximum of _____% (no more than the Annual Addition limit for the Plan Year) of Compensation.

	  	  	  
	  	
 

	
c.

	
Discretionary Match: The Employer shall have the right to make a Discretionary Matching Contribution. The Employer’s Matching Contribution shall be determined by the Employer with respect to each Plan Year’s eligible Participants. Such contribution shall be in the amount specified and allocated as follows:  ________________________________________________________________

	  	  	  
	 	 	 	 
	 	 	 	 
	 	 	 	 
	  	
 

	
d.

	
Tiered Match: The Employer shall contribute to each eligible Participant’s account an amount equal to:

	  	  	  
	  	  	 	
________% of the first ________% (no more than 500%) of the Participant’s Compensation contributed, and

	  	  	  
	  	  	 	
________% of the next ________% (no more than 400%) of the Participant’s Compensation contributed, and

	  	  	  
	  	  	 	
________% of the next ________% (no more than 300%) of the Participant’s Compensation contributed.

	  	  	  
	  	  	 	
The Employer’s contribution will be made up to the [ ] greater of (may be no more than 500%) [ ] lesser of (may be no less than 1%) _________% of Compensation, or $__________ (no more than the Annual Addition limit for the Plan Year).

 

  

	18	 401(k) NS AA #010

  

 

	
  

	
The percentages specified above may not increase as the rate of Elective Deferrals or Employee Contributions increase.  This formula must meet Code Section 401(a)(4) and the ACP Test.

	
  

	
e.

	
Percentage of Compensation Match:  The Employer shall contribute to each eligible Participant’s account ________% (no less than 1%) of Compensation if the eligible Participant contributes at least ________% (no more than 100%)  of Compensation.

The Employer’s contribution will be made up to the [  ] greater of (may be no more than 500%) [  ] lesser of  (may be no less than 1%) _________% of Compensation or $__________ (no more than the Annual Addition limit for the Plan Year).

This formula must meet Code Section 401(a)(4) and the ACP Test.

	
  

	
f.

	
Proportionate Compensation Match:  The Employer shall contribute to each eligible Participant who defers at least ________% (may be no more than 100%) of Compensation, an amount determined by multiplying such Employer Matching Contribution by a fraction, the numerator of which is the Participant’s Compensation and the denominator of which is the Compensation of all Participants eligible to receive such an allocation.

The Employer’s contribution will be made up to the [  ] greater of (may be no more than 500%) [  ] lesser of  (may be no less than 1%) _________% of Compensation or $__________ (no more than the Annual Addition limit for the Plan Year).

This formula must meet Code Section 401(a)(4) and the ACP Test.

 

	
  

	
x

	
g.

	
Catch-Up Contributions:  The Employer elects to match Catch-Up Contributions under the same formula or formulas as elected above.

	
  

	
In the event that an Excess Contribution is recharacterized as a Catch-up Contribution, any Matching Contribution made thereon may remain in the Plan if the Matching Contribution Formula is not otherwise exceeded.

	
  

	
Additional Matching Contribution Formulas for Voluntary After-tax Contributions:

	
  

	
h.

	
Percentage of Deferral Match: The Employer shall contribute to each eligible Participant’s account an amount equal to ______% (no less than 1%) of the Participant’s Contribution up to a maximum of ______% (may be no more than 500%) of Compensation or $__________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

	
  

	
i.

	
Uniform Dollar Match: The Employer shall contribute to each eligible Participant’s account $________ (no more than the Annual Addition limit for the Plan Year) if the Participant contributes at least ________% (may be no more than 100%) of Compensation or $________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].  The Employer’s contribution will be made up to the maximum of _____% (may be no more than 500%) of Compensation.

	
  

	
j.

	
Discretionary Match: The Employer shall have the right to make a Discretionary Matching Contribution. The Employer’s Matching Contribution shall be determined by the Employer with respect to each Plan Year’s eligible Participants.  Such contribution shall be in the amount specified and allocated as follows: 

	
  

	
 

	
 

 

	
  

	
 

	
 

	
  

	
Additional Matching Contribution Formulas for Required After-tax Contributions:

	
  

	
k.

	
Percentage of Deferral Match: The Employer shall contribute to each eligible Participant’s account an amount equal to ________% no less than 1%) of the Participant’s Contribution up to a maximum of ________% (may be no more than 500%) of Compensation or $__________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

 

  

	 	19	 401(k) NS AA #010

  

 

	
  

	
l.

	
Uniform Dollar Match: The Employer shall contribute to each eligible Participant’s account $________ (no more than the Annual Addition limit for the Plan Year) if the Participant contributes at least _______% (may be no more than 100%) of Compensation or $__________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].  The Employer’s contribution will be made up to the maximum of ______% (may be no more than 500%) of Compensation.

	
  

	
m.

	
Discretionary Match: The Employer shall have the right to make a Discretionary Matching Contribution.  The Employer’s Matching Contribution shall be determined by the Employer with respect to each Plan Year’s eligible Participants.  Such contribution shall be in the amount specified and allocated as follows: 

 

	
  

	
 

	
 

 

	
  

	
 

	 	
 

	
  

	
Additional Matching Contribution Formulas for 403(b) Deferrals:

	
  

	
n.

	
Percentage of Deferral Match: The Employer shall contribute to each eligible Participant’s account an amount equal to ________% (no less than 1%) of the Participant’s deferral up to a maximum of ________% (may be no more than 500%) of Compensation or $__________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

	
  

	
o.

	
Uniform Dollar Match: The Employer shall contribute to each eligible Participant’s account $________ (no more than the Annual Addition limit for the Plan Year) if the Participant contributes at least ______% (may be no more than 100%) of Compensation or $___________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].  The Employer’s contribution will be made up to the maximum of ______% (may be no more than 500%) of Compensation.

	
  

	
p.

	
Discretionary Match: The Employer shall have the right to make a Discretionary Matching Contribution. The Employer’s Matching Contribution shall be determined by the Employer with respect to each Plan Year’s eligible Participants.  Such contribution shall be in the amount specified and allocated as follows:

 

	
  

	
 

	
 

 

	
  

	
2.

	
Matching Contribution Computation Period: The Compensation or any dollar limitation imposed in calculating the Matching Contribution will be based on the period selected below. Matching Contributions will be calculated on the following basis: 

 

	
  

	
 

	a.

b.

c.

d.	Payroll Based

Weekly

Bi-weekly

Semi-monthly	e.

f.

g.

h.	
Monthly

Quarterly

Semi-annually

Annually

 

The calculation of Matching Contributions based on the Computation Period selected above has no applicability as to when the Employer remits Matching Contributions to the Trust.

	
  

	
3.

	

Limitations on Matching Formulas:

 

	
  

	
a.

	

Contributions to Participants who are not Highly Compensated Employees: Contribution of the Employer’s Matching Contribution will be made only to eligible Participants who are Non-Highly Compensated Employees.

 

	
  

	
b.

	
Deferrals withdrawn prior to the end of the Matching Computation Period:  Matching Contributions (whether or not Qualified) will not be made on Employee contributions withdrawn prior to the end of the [  ] Matching Computation Period, or [  ] Plan Year.

 

  

	 	20	 401(k) NS AA #010

  

	
  

	

o

	

If elected, this requirement shall apply in the event of a withdrawal occurring as the result of a termination of employment for reasons of retirement, Disability or death.

 

	
  

	
c.

	
Maximum Plan Limit for Matching Contributions: In no event will Matching Contributions exceed ______% (no more than 500%) of Compensation, or $_______ (no more than the Annual Addition limit for the Plan Year).

	
  

	
o

	
If elected, this limitation applies to the total of all Elective Deferrals, Roth Elective Deferrals, Catch-Up Contributions, Voluntary After-tax Contributions,  Required After-tax Contributions and 403(b) Deferrals made to the Plan for the Plan Year.

	
  

	
d.

	
True Up of Matching Contributions:  The Employer elects to true up Matching Contributions made to the Plan.

	
o

	
K.

	
Non-Elective Employer Contributions:

The Employer shall have the right to make a discretionary contribution.  If a discretionary contribution is made, the Employer’s contribution for the Plan Year shall be allocated to the accounts of eligible Participants as follows (enter the number of the allocation method being used by the Plan):

	
Type of Contribution

	
Allocation Method

	
Non-Elective Formula 1

	  
	
Non-Elective Formula 2

	  

	
  

	
1.

	
Pro-Rata Formula:  The Employer’s contribution for the Plan Year shall be allocated to each eligible Participant on a pro-rata basis based on the Compensation of the Participant to the total Compensation of all Participants.

	
  

	
2.

	
Uniform Percentage Formula: The Employer’s contribution shall be allocated to each eligible Participant as a uniform percentage of the Employer’s Net Profit.

	
  

	
3.

	
Percentage of Compensation Formula: The Employer’s contribution shall be ______% of each Participant’s Compensation allocated on a pro-rata basis based on the Compensation of the Participant to the total Compensation of all Participants.

 

	
  

	
4.

	

Hours of Service Formula:  The Employer’s contribution shall be a discretionary amount allocated in the same dollar amount to each eligible Participant based on each Hour of Service performed or each day that the Participant is entitled to Compensation.

 

	
  

	
5.

	

Uniform Dollar Amount Formula:  The Employer shall contribute and allocate to the account of each eligible Participant an equal dollar amount.

 

	
  

	
6.

	
Excess Integrated Contribution Formula:  The Employer’s contribution shall be allocated as an amount taking into consideration amounts contributed to Social Security using the four-step Excess Integrated Allocation Formula as described in the Basic Plan Document #01; the Integration Level is defined at Section III(E) of this Adoption Agreement.

	
  

	
7.

	
Base Integrated Contribution Formula:  The Employer’s contribution shall be allocated as an amount taking into consideration amounts contributed to Social Security using the two-step Base Integrated Allocation Formula as described in the Basic Plan Document #01; Employer Contributions shall be allocated as follows: _____% of each eligible Participant’s Compensation, plus _____% of Compensation in excess of the Integration Level defined at Section III(E) hereof.  If the Integration Level selected in Section III(E) is other than the Taxable Wage Base, the maximum disparity rate will be adjusted as follows: (a) if the Integration Level selected is greater than zero (0) but not more than the greater of $10,000 or 20% of the Taxable Wage Base, the maximum disparity rate will be 5.7%; (b) if the Integration Level selected is more than the greater of $10,000 or 20% but not more than 80% of the Taxable Wage Base, the maximum disparity rate will be 4.3%; (c) if the Integration Level selected is more than 80% of the Taxable Wage Base, but not more than any amount more than 80% of the Taxable Wage Base, but less than 100% of the Taxable Wage Base, the maximum disparity rate will be 5.4%.

 

  

	 	21	 401(k) NS AA #010

  

 

Only one Plan maintained by the Employer may be integrated with Social Security.  Any Plan utilizing a Safe Harbor formula as provided in Section VI(I) of this Adoption Agreement may not apply the Safe Harbor Contributions to the integrated allocation formula.

	
  

	
8.

	
Uniform Points Contribution Formula: The allocation for each eligible Participant will be determined by a uniform points method. Each eligible Participant’s allocation shall bear the same relationship to the Employer contribution as the Participant’s total points bears to all points awarded.  The Employer must grant points for at least age or Service.  Each eligible Participant will receive _____ points for each of the following:

	
  

	
o

	
a.

	
_____ year(s) of age.

	
  

	

o

	
b.

	
_____ Year(s) of Service determined:

	
  

	

o

	
i.

	
In the same manner as determined for eligibility.

	
  

	

o

	
ii.

	
In the same manner as determined for vesting.

 

	
  

	

o

	
iii.

	

Points will not be awarded with respect to Year(s) of Service in excess of _____.

 

	
  

	

o

	
c.

	
$_________ (not to exceed $200) of Compensation.

	
  

	
The contribution formulas must satisfy the design-based safe harbors described in the Regulations under Code Section 401(a)(4).

	
  

	
L.

	
Qualified Matching (QMAC) and Qualified Non-Elective (QNEC) Employer Contribution Formulas:

	
  

	
o

	
1.

	
QMAC Contribution Formula:  The Employer may contribute to each eligible Participant’s Qualified Matching Contribution account an amount equal to (select one or more of the following):

	
  

	
o            a.

	
$_________ or ______% of the Participant’s Elective Deferrals (including Roth Elective Deferrals, if applicable).

 

	
  

	
o            b.

	

$_________ or ______% of the Participant’s Elective Deferrals (including Roth Elective Deferrals, if applicable) not to exceed ______% of Compensation.

 

	
  

	
o            c.

	

$_________ or ______% of the Participant’s Voluntary After-tax Contributions.

 

	
  

	
o            d.

	

$_________ or ______% of the Participant’s Required After-tax Contributions.

	
  

	
o

	
 2.

	
Discretionary QMAC Contribution Formula:  The Employer shall have the right to make a discretionary QMAC contribution.  The Employer’s Matching Contribution shall be determined by the Employer with respect to each Plan Year’s eligible Participants.  Such contribution shall be in the amount specified and allocated as follows:                                                                                                                                                    

 

	
  

	
This part of the Employer’s contribution shall be fully vested when made.

	
  

	
o

	
 3.

	
QNEC Contribution Formula: The Employer may contribute to each eligible Participant’s Qualified Non-Elective Contribution account an amount equal to (select one or more of the following):

 

	
  

	
o            a.

	

_____% of Compensation of all eligible Participants. This part of the Employer’s contributions shall be fully vested when made.

 

	
  

	
o            b.

	

$__________ not to exceed ___% of Compensation. This part of the Employer’s contribution shall be fully vested when made and subject to the limitations specified in the Basic Plan Document #01.

 

  

	 	22	 401(k) NS AA #010

  

 

	
  

	
o

	
 4.

	
Discretionary Percentage QNEC Contribution Formula:  The Employer shall have the right to make a discretionary QNEC contribution which shall be allocated to each eligible Participant’s account in proportion to his or her Compensation as a percentage of the Compensation of all eligible Participants.  This part of the Employer’s contribution shall be fully vested when made.  This contribution will be made to:

 

	
  

	
o

	
a.

	

All eligible Participants.

 

	
  

	
o

	
b.

	
Only eligible Participants who are Non-Highly Compensated Employees.

	
  

	
o

	
 5.

	
Discretionary Uniform Dollar QNEC Contribution Formula: The Employer shall have the right to make a discretionary QNEC contribution which shall be allocated to each eligible Participant’s account in a uniform dollar amount to be determined by the Employer and allocated in a nondiscriminatory manner.  This part of the Employer’s contribution shall be fully vested when made. This contribution will be made to:

 

	
  

	
o

	
a.

	

All eligible Participants.

 

	
  

	
o

	
b.

	

Only eligible Participants who are Non-Highly Compensated Employees.

	
  

	
o

	
 6.

	
Corrective QNEC Contribution Formula:  The Employer shall have the right to make a QNEC contribution in the amount necessary to pass the ADP/ACP Test or the maximum permitted under Code Section 415. This contribution will be allocated to some or all Non-Highly Compensated Participants designated by the Plan Administrator. The allocation will be the lesser of the amount required to pass the ADP/ACP Test, or the maximum permitted under Code Section 415. This part of the Employer’s contribution shall be fully vested when made.

 

	
  

	
o

	
 7.

	
Qualified Matching Contributions (QMAC):

 

	
  

	
o

	
a.

	

For purposes of the ADP and ACP Tests, all Matching Contributions made to the Plan will be deemed “Qualified” for purposes of calculating the Actual Deferral Percentage and/or Actual Contribution Percentage.  All Matching Contributions must be fully vested when made.

 

	
  

	
o

	
b.

	

For purposes of the ADP and ACP Tests, only Matching Contributions made to the Plan that are needed to meet the Actual Deferral Percentage or Actual Contribution Percentage Test will be deemed “Qualified” for purposes of calculating the Actual Deferral Percentage and/or Actual Contribution Percentage. All such Matching Contributions used must be fully vested when made.

 

	
  

	
o

	
 8.

	
Qualified Non-Elective Contributions (QNEC):

 

	
  

	
o

	
a.

	

For purposes of the ADP and  ACP Tests, all Non-Elective Contributions made to the Plan will be deemed “Qualified” for purposes of calculating the Actual Deferral Percentage and/or Actual Contribution Percentage. All Non-Elective Contributions must be fully vested when made.

 

	
  

	
o

	
b.

	

For purposes of the ADP and ACP Tests, only the Non-Elective Contributions made to the Plan that are needed to meet the Actual Deferral Percentage or Actual Contribution Percentage Test will  be deemed “Qualified” for purposes of calculating the Actual Deferral Percentage and/or Actual Contribution Percentage. All such Non-Elective Contributions used must be fully vested when made.

 

	
x

	
M.

	
Additional Adopting Employers:

 

	
  

	
x

	
1.

	
All participating Employers’ contributions and forfeitures, if applicable, attributable to each specific contribution source made by such Employer shall be pooled together and allocated uniformly among all eligible Participants.

	
  

	
o

	
2.

	
Each participating Employer’s contribution and forfeitures, if applicable, attributable to each specific contribution source made by such Employer shall be allocated only to eligible Participants of the participating Employer.

 

  

	 	
23

	 401(k) NS AA #010

  

	  	  	  	  	  
	  	
Where contributions and forfeitures are to be allocated to eligible Participants by participating Employers, each such Employer must maintain data demonstrating that the allocations by group satisfy the nondiscrimination rules under Code Section 401(a)(4).

	  	  	  	  	  
	
VII.

	
ALLOCATIONS TO PARTICIPANTS

	  	  	  	  	  
	  	
A.

	
Allocation Accrual Requirements:

	  	  	  	  	  
	  	  	
No Hours of Service or last day requirement may be imposed on any Employer contribution that is subject to the Safe Harbor Plan rules.

	  	  	  	  	  
	  	
x

	
1.

	
There are no allocation requirements for Participants to receive any contribution made to the Plan; however, a Participant must have received Compensation from the Employer to be entitled to an allocation of contributions.

	  	  	  	  	  
	  	
o

	
2.

	
Employer contributions will be allocated to all Participants employed on the last day of the Plan Year regardless of hours worked.

	  	  	  	  	  
	  	
o

	
3.

	
The Plan is using the Elapsed Time method; contributions will be allocated to all Participants who have completed _____ [not more than twelve (12)] months of Service regardless of the hours credited. If left blank, the Plan will use twelve (12) months.

	  	  	  	  	  
	  	
o

	
4.

	
Employer contributions for a Plan Year will be allocated to all Participants upon completion of the hours and/or employment requirements below.

	  	  	  	  	  
	  	  	  	
a.

	
A Year of Service for allocation accrual purposes cannot be less than one (1) Hour of Service nor greater than 1,000 hours by operation of law. If left blank, the Plan will use 1,000 hours. Enter whole digit numbers only.

 

	  	
Contribution Type

	
Hours

	  	
All contributions

	  
	  	
Matching Contribution (Formula 1)

	  
	  	
Matching Contribution (Formula 2)

	  
	  	
Non-Elective Contribution (Formula 1)

	  
	  	
Non-Elective Contribution (Formula 2)

	  
	  	
QNEC

	  
	  	
QMAC

	  

 

	  	
b.

	
Participants must be employed on the last day of each quarter of the Plan Year in order to receive the following contribution(s):

	  	  	  
	  	
o

	
All contributions

	  	
o

	
Matching Contribution (Formula 1)

	  	
o

	
Matching Contribution (Formula 2)

	  	
o

	
Non-Elective Contribution (Formula 1)

	  	
o

	
Non-Elective Contribution (Formula 2)

	  	
o

	
QNEC

	  	
o

	
QMAC

	  	  	  
	  	  	
Note: Use of this subsection (b) requires that no more than one (1) Hour of Service be required in subsection (a) above for the contribution types selected.

	  	  	  
	  	
c.

	
Participants must be employed on the last day of the Plan Year in order to receive the following contribution(s):

	  	  	  
	  	
o

	
All contributions

	  	
o

	
Matching Contribution (Formula 1)

	  	
o

	
Matching Contribution (Formula 2)

	  	
o

	
Non-Elective Contribution (Formula 1)

	  	
o

	
Non-Elective Contribution (Formula 2)

	  	
o

	
QNEC

	  	
o

	
QMAC

 

  

	24	 401(k) NS AA #010

  

	  	
o

	
d.

	
Participants must complete the Hours of Service indicated above or be employed on the last day of the Plan Year to receive the Employer Contribution(s) selected above.

	  	  	  	  
	  	
5.

	
Employer Contributions for a Plan Year will be allocated to terminated Participants who have met the following allocation accrual requirements (check all applicable boxes):

 

	 	 	 	 	 	 	 	 	 	 	Non-Elective	 	 Non-Elective 	 	 	 	 
	  	  	  	  	
All

Contributions

	  	
Match

Formula 1

	  	
Match

Formula 2

	  	
Formula 1

	  	
Formula 2

	  	
QNEC

	  	
QMAC

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	
a.

	
The Hours of Service or Period of 

Service requirement above will be 

waived if termination is due to:

	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	
i.

	
Retirement

	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
ii.

	
Disability

	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
iii.

	
Death

	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
iv.

	
Other (must be non-Discriminatory in operation):

	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	
—

	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	
b.

	
The last day of employment 

requirement above will be 

waived if termination is due to:

	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	
i.

	
Retirement

	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
ii.

	
Disability

	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
iii.

	
Death

	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
iv.

	
Other (must be non-Discriminatory in operation):

	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

	  	
o

 

	
o

	
B.

	
Contributions to Disabled Participants:

	  	  	  	  
	  	  	  	
The Employer will make contributions on behalf of a Participant who is permanently and totally disabled. These contributions will be based on the Compensation each such Participant would have received for the Limitation Year if the Participant had been paid at the rate of Compensation paid immediately before becoming permanently and totally disabled. Such imputed Compensation for the disabled Participant may be taken into account only if the Participant is not a Highly Compensated Employee. These contributions will be 100% vested when made.

	  	  	  	  
	
VIII.

	
DISPOSITION OF FORFEITURES

	  	  	  	  
	  	
A.

	
Forfeiture Allocation Alternatives:

	  	  	  	  
	  	
o

	
1.

	
Not applicable; all contributions are fully vested.

	  	  	  	  
	  	
x

	
2.

	
Select one or more methods in which forfeitures associated with the contribution type will be allocated (number each item in order of use):

 

  

	25	 401(k) NS AA #010

  

 

	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	
Employer Contribution Type

	  	  	  	  	  	  	  
	  	
Disposition Method

	  	  	
All Non-Safe Harbor

Matching Contributions

	  	
All Other

Contributions

	  	  	  	  	  	  	  	  	  	  	  
	  	
a.

	
Restoration of Participant’s forfeitures.

	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  
	  	
b.

	
Used to offset Plan expenses.

	  	  	
1

	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  
	  	
c.

	
Used to reduce the Employer’s Non-Elective Contribution.

	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  
	  	
d.

	
Used to reduce the Employer’s Matching Contribution.

	  	  	
2

	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  
	  	
e.

	
Added to the Employer’s contribution (other than Matching Contributions or Base Integration Formula) under the Plan.

	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  
	  	
f.

	
Added to the Employer’s Matching Contribution under the Plan (these contributions will be subject to ACP Testing).

	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  
	  	
g.

	
Allocate to all Participants eligible to share in the allocations in the same proportion that each Participant’s Compensation for the year bears to the Compensation of all other Participant’s for such year.

	  	  	
N/A

	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  
	  	
h.

	
Allocate to all NHCEs eligible to share in the allocations in proportion to each such Participant’s Compensation for the year.

	  	  	
N/A

	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  
	  	
i.

	
Allocate to all NHCEs eligible to share in the allocations in proportion to each such Participant’s Elective Deferrals for the year.

	  	  	  	  	  	  	
N/A

	  
	  	  	  	  	  	  	  	  	  	  	  
	  	
j.

	
Allocate to all Participants eligible to share in the allocations in the same proportion that each Participant’s Elective Deferrals for the year bears to the Elective Deferrals of all Participants for such year.

	  	  	
3

	  	  	  	
N/A

	  

 

	  	  	
Participants eligible to share in the allocation of other Employer contributions under Section VI shall be eligible to share in the allocation of forfeitures. The selection of (i) or (j) may require that the Plan be tested for nondiscrimination using a general test described in Regulations Section 1.410(b).

	  	  	  	  
	  	
B.

	
Timing of Allocation of Forfeitures:

	  	  	  	  
	  	  	
If no timely distribution or deemed distribution [pursuant to paragraph 6.5(c) of the Basic Plan Document #01] has been made to a former Participant, non-vested portions shall be forfeited at the end of the Plan Year during which the former Participant incurs his or her fifth consecutive one (1) year Break in Service or Period of Severance for Plans that use the Elapsed Time Method.

	  	  	  	  
	  	  	
If a former Participant has received the full amount of his or her Vested Account Balance, the non-vested portion of his or her account shall be forfeited and be disposed of:

	  	  	  	  
	  	
o

	
1.

	
during the Plan Year following the Plan Year in which the forfeiture arose.

	  	  	  	  
	  	
x

	
2.

	
as of any Valuation or Allocation Date during the Plan Year (or as soon as administratively feasible following the close of the Plan Year) in which the former Participant receives full payment of his or her vested benefit.

	  	  	  	  
	  	
o

	
3.

	
as of the end of the Plan Year during which the former Participant receives full payment of his or her vested benefit.

	  	  	  	  
	  	
o

	
4.

	
as of the earlier of the first day of the Plan Year, or the first day of the seventh month of the Plan Year following the date on which the former Participant has received full payment of his or her vested benefit.

	  	  	  	  
	  	
o

	
5.

	
as of the next Valuation or Allocation Date following the date on which the former Participant receives full payment of his or her vested benefit.

 

  

	26	 401(k) NS AA #010

  

  

 

	
IX.

	
MULTIPLE PLANS MAINTAINED BY THE EMPLOYER AND TOP-HEAVY CONTRIBUTIONS

	  	  	  	  
	
o

	
A.

	
Plans Maintained By The Employer:

	  	  	  	  
	  	  	
The Employer does maintain another Plan [including a Welfare Benefit Fund or an individual medical account as defined in Code Section 415(l)(2)], under which amounts are treated as Annual Additions and has completed the proper sections below. If the Participant is covered under another qualified Defined Contribution Plan maintained by the Employer, other than a Master or Prototype Plan [option (1) below shall automatically apply if the other plan is a Master or Prototype Plan]:

	  	  	  	  
	  	
o

	
1.

	
The provisions of Article X of the Basic Plan Document #01 will apply as if the other plan were a Master or Prototype Plan.

	  	  	  	  
	  	
o

	
2.

	
The Employer has specified below the method under which the plans will limit total Annual Additions to the Maximum Permissible Amount, and will properly reduce any Excess Amounts in a manner that precludes Employer discretion:

	 	 	 	 
	  	  	  	  
	 	
B.

	
Top-Heavy Provisions:

	 	 	 	 
	 	 	
In the event the Plan is or becomes Top-Heavy, the minimum contribution or benefit required under Code Section 416 and paragraph 14.3 of the Basic Plan Document #01 relating to Top-Heavy Plans shall be satisfied in the elected manner:

	  	  	  	  
	  	
x

	
1.

	
The minimum contribution will be satisfied by this Plan.

	  	  	  	  
	  	
o

	
2.

	
The minimum contribution will be satisfied by (name of other Qualified Plan): ________

	  	  	  	  
	  	  	  	
Minimum contribution or benefit to be provided (specify interest rates and mortality table, if applicable): ______________

	  	  	  	  
	  	  	
3.

	
For any Plan Year during which the Plan is Top-Heavy, the sum of the contributions (excluding Elective Deferrals) allocated to non-Key Employees shall not be less than the amount required under the Basic Plan Document #01. Top-Heavy minimums will be allocated to:

	  	  	  	  
	  	  	
o

	
a.

	
all eligible Participants [Plan defaults to this election].

	  	  	  	  	  
	  	  	
x

	
b.

	
only eligible non-Key Employees who are Participants.

	  	  	  	  
	  	
o

	
4.

	
Matching Contributions shall not be included when satisfying Top-Heavy minimum contributions.

	  	  	  	  
	
X.

	
NONDISCRIMINATION TESTING

	  	  	  	  
	  	
A Plan may use different testing methods for the ADP and ACP Tests provided the Plan does not permit recharacterization of Excess Contributions, Elective Deferrals to be used in the ACP Test, or Qualified Matching Contributions to be used in the ADP Test.

	  	  	  	  
	  	
If no election is made, the Plan will use the Current Year testing method for both the ADP and ACP Tests.

	  	  	  	  
	  	
A.

	
Testing Elections:

	  	  	  	  
	  	
o

	
1.

	
The Plan is not subject to ADP or ACP testing. The Plan does not offer Voluntary After-tax or Required After-tax Contributions and it either meets the Safe Harbor provisions of Section VI(I) of this Adoption Agreement, or it does not benefit any Highly Compensated Employees.

	  	  	  	  
	  	
o

	
2.

	
This Plan is using the Current Year testing method for purposes of the ADP Test.

	  	  	  	  
	  	
o

	
3.

	
This Plan is using the Current Year testing method for purposes of the ACP Test.

	  	  	  	  
	  	
x

	
4.

	
This Plan is using the Prior Year testing method for purposes of the ADP Test.

	  	  	  	  
	  	
x

	
5.

	
This Plan is using the Prior Year testing method for purposes of the ACP Test.

 

  

	27	 401(k) NS AA #010

  

 

	  	
B.

	
Testing Elections for the First Plan Year:

	  	  	  	  
	  	  	
Complete only when Prior Year testing method election is made and the Employer is not using the “deemed 3%” rule.

	  	  	  	  
	  	
o

	
1.

	
If this is not a successor Plan, then for the first Plan Year this Plan permits any Participant to make Elective Deferrals, the ADP used in the ADP Test for Participants who are Non-Highly Compensated Employees shall be such first Plan Year’s ADP.

	  	  	  	  
	  	
o

	
2.

	
If this is not a successor Plan, then for the first Plan Year this Plan permits (a) any Participant to make Employee contributions, (b) provides for Matching Contributions or (c) both, the ACP used in the ACP Test for Participants who are Non-Highly Compensated Employees shall be such first Plan Year’s ACP.

	  	  	  	  
	
o

	
C.

	
Recharacterization:

	  	  	  	  
	  	  	
Elective Deferrals may be recharacterized as Voluntary After-tax Contributions to the extent so provided by this Plan, to satisfy the ADP Test. The Employer must have elected to permit Voluntary After-tax Contributions in the Plan for this election to be operable.

	  	  	  	  
	
o

	
D.

	
Forfeitures of Vested Excess Aggregate Contributions Resulting from ADP Test Failure:

	  	  	  	  
	  	  	
Forfeitures of Excess Aggregate Contributions resulting from failure of the ADP Test and the inability to distribute corresponding Matching Contributions will be allocated to the Matching Contribution accounts of Non-Highly Compensated Employees instead of being used to reduce Employer Contributions for the Plan Year in which the failure occurred.

	  	  	  	  
	
XI.

	
VESTING

	  	  	  	  
	  	
Participants shall always have a fully vested and nonforfeitable interest in their Employee contributions (including Elective Deferrals, Catch-Up Contributions, Roth Elective Deferrals, Deemed IRA Contributions, Required After-tax Contributions, and Voluntary After-tax Contributions), Qualified Matching Contributions (“QMACs”), Qualified Non-Elective Contributions (“QNECs”) or Safe Harbor Contributions, and their investment earnings.

	  	  	  	  
	  	
Each Participant shall acquire a vested and nonforfeitable percentage in his or her account balance attributable to Employer contributions and their earnings under the schedule(s) selected below.

	  	  	  	  
	  	
A.

	
Vesting Computation Period:

	  	  	  	  
	  	  	
A Year of Service for vesting will be determined on the basis of the (choose one):

	  	  	  	  
	  	
o

	
1.

	
Not applicable. All contributions are fully vested.

	  	  	  	  
	  	
x

	
2.

	
Elapsed Time method.

	  	  	  	  
	  	
o

	
3.

	
Hours of Service method. A Year of Service will be credited upon completion of __________ Hours of Service. A Year of Service for vesting purposes will not be less than one (1) Hour of Service nor greater than 1,000 hours by operation of law. [If left blank, the Plan will use 1,000 hours.]

	  	  	  	  
	  	  	  	
The computation period for purposes of determining Years of Service and Breaks in Service for purposes of computing a Participant’s nonforfeitable right to his or her account balance derived from Employer contributions:

	  	  	  	  
	  	  	
o

	
a.

	
shall commence on the date on which an Employee first performs an Hour of Service for the Employer and each subsequent twelve (12) consecutive month period shall commence on the anniversary thereof.

	  	  	  	  	  
	  	  	
o

	
b.

	
shall commence on the first day of the Plan Year during which an Employee first performs an Hour of Service for the Employer and each subsequent twelve (12) consecutive month period shall commence on the anniversary thereof.

 

  

	28	 401(k) NS AA #010

  

 

	  	  	  	  
	  	  	  	
A Participant shall receive credit for a Year of Service if he or she completes the number of hours specified above at any time during the twelve (12) consecutive month computation period. A Year of Service may be earned prior to the end of the twelve (12) consecutive month computation period and the Participant need not be employed at the end of the twelve (12) consecutive month computation period to receive credit for a Year of Service.

	  	  	  
	  	
B.

	
Vesting Schedules:

	  	  	  
	  	  	
The Employer must select either the two-twenty vesting schedule option [(B)(4)] or the three-year cliff vesting schedule [(B)(3)] to apply in any Plan Year in which the Plan is Top-Heavy. The percentages selected for option (B)(5) may not be less for any year than the percentages shown at option (B)(4). Any switch to a Top-Heavy schedule will remain in effect even if the Plan later falls out of Top-Heavy status unless the Employer executes an amendment to this Adoption Agreement. If a Participant has at least three (3) Years of Service for vesting purposes at the time of the amendment, the Plan must provide that Participant the option of remaining on the vesting schedule in effect prior to such amendment.

	  	  	  
	  	  	
Select the appropriate schedule for each contribution type and complete the blank vesting percentages from the list below and insert the option number in the vesting schedule chart below. Employer Contributions that are not Safe Harbor Contributions may only choose option (3) or (4) or a schedule where amounts vest faster than at option (4).

 

	  	  	
Years of Service

	  
	  	     	
1

	
2

	
3

	
4

	
5

	
6

	  
	  	  	  	  	  	  	  	  
	  	
1.

	
Full and immediate Vesting

	  	  	  	  	  	  	  	  
	  	
2.

	
__%

	
100%

	  	  	  	  
	  	  	  	  	  	  	  	  
	  	
3.

	
__%

	
__%

	
100%

	  	  	  
	  	  	  	  	  	  	  	  
	  	
4.

	
__%

	
20%

	
40%

	
60%

	
80%

	
100%

	  	  	  	  	  	  	  	  
	  	
5.

	
25%

	
50%

	
75%

	
100%

	
100%

	
100%

	  	
Vesting Schedule Chart

	  	  	
Employer Contribution Type

	  
	  	  	  	  
	  	  	  	
All Employer Contributions

	  	
5

	  	
Matching Contribution (Formula 1)

	  	  	  	
Matching Contribution (Formula 2)

	  	  	  	
Match on Voluntary After-tax Contributions

	  	  	  	
Match on Required After-tax Contributions

	  	  	  	
Match on 403(b) Deferrals

	  	  	  	
Non-Elective Contribution (Formula 1)

	  	  	  	
Non-Elective Contribution (Formula 2)

	  	
5

	  	
Top-Heavy Minimum Contribution

 

	  	  	
If a different Vesting Schedule than that entered above applies to Employer Contributions made prior to the first day of the Plan’s 2007 Plan Year, it should be entered in Schedule B of this Adoption Agreement.

	  	  	  	  
	  	
C.

	
Service Disregarded for Vesting:

	  	  	  	  
	  	
x

	
1.

	
Not applicable. All Service is recognized.

	  	  	  	  
	  	
o

	
2.

	
Service prior to the Effective Date of this Plan or a predecessor plan is disregarded when computing a Participant’s vested and nonforfeitable interest.

	  	  	  	  
	  	
o

	
3.

	
Service prior to a Participant having attained age eighteen (18) is disregarded when computing a Participant’s vested and nonforfeitable interest.

 

  

	29	 401(k) NS AA #010

  

 

	
o

	
D.

	
Full Vesting of Employer Contributions for Current Participants:

	  	  	  	  
	  	  	
Notwithstanding the elections above, all Employer contributions made to a Participant’s account shall be 100% fully vested if the Participant is employed on the Effective Date of the Plan (or such other date as entered herein): _________________. The operation of this provision may not result in the discrimination in favor of Highly Compensated Employees.

	  	  	  	  
	
XII.

	
SERVICE WITH PREDECESSOR ORGANIZATION

	  	  	  	  
	  	
This option only applies in the situation where the Employer does not or did not maintain the plan of a Predecessor Organization.

	  	  	  	  
	
x

	
A.

	
Not applicable. The Employer does not maintain the plan of a Predecessor Organization.

	  	  	  	  
	
o

	
B.

	
The Plan will recognize Service with all Predecessor Organizations.

	  	  	  	  
	
o

	
C.

	
Service with the following organization(s) will be recognized for the Plan purpose indicated:

	  	  	  	
Eligibility

	  	
Allocation

Accrual

	  	
Vesting

	  	  	  	  	  	  	  	  
	  	  	  	
o

	  	
o

	  	
o

	  	  	  	
o

	  	
o

	  	
o

	  	  	  	
o

	  	
o

	  	
o

	  	  	  	
o

	  	
o

	  	
o

	  	  	  	
o

	  	
o

	  	
o

	  	
Attach additional pages as necessary.

	  	  	  	  	  	  

 

	
o

	
D.

	
The Plan shall recognize _____ Years of Service with the Employer(s) named in Section XII(C) above.

	  	  	  	  
	
XIII.

	
IN-SERVICE WITHDRAWALS

	  	  	  	  
	  	
Distribution restrictions apply in the case of Elective Deferrals (including Roth Elective Deferrals, if applicable), Safe Harbor Contributions, Qualified Matching Contributions and Qualified Non-Elective Contributions, including the withdrawal restrictions prior to attainment of age 591⁄2.

	  	  	  	  
	  	
If the Participant could withdraw his or her account in the past, this right may not be taken away.

	  	  	  	  
	  	
A.

	
In-Service Withdrawals:

	  	  	  	  
	  	
o

	
1.

	
In-service withdrawals are not permitted in the Plan.

	  	  	  	  
	  	
x

	
2.

	
In-service withdrawals are permitted in the Plan. Participants may withdraw the following contribution types after meeting the following requirements (select one or more of the following options):

 

	  	  	  	  	
Withdrawal Restrictions

	  	
Contribution Types

	  	  	
A

	
B

	
C

	
D

	
E

	
F

	
G

	
H

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
a.

	
All Contributions

	  	
n/a

	
n/a

	
n/a

	
o

	
o

	
n/a

	
n/a

	
n/a

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
b.

	
Elective Deferrals

	  	
o

	
n/a

	
n/a

	
o

	
x

	
n/a

	
n/a

	
n/a

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
c.

	
Roth Elective Deferrals

	  	
o

	
n/a

	
n/a

	
o

	
o

	
n/a

	
n/a

	
n/a

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
d.

	
Voluntary After-tax Contributions

	  	
o

	
o

	
o

	
o

	
o

	
n/a

	
n/a

	
n/a

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
e.

	
Required After-tax Contributions

	  	
o

	
o

	
o

	
o

	
o

	
n/a

	
n/a

	
n/a

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
f.

	
Rollover Contributions

	  	
o

	
x

	
o

	
o

	
o

	
n/a

	
n/a

	
n/a

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
g.

	
Vested Matching (Formula 1)

	  	
o

	
n/a

	
x

	
o

	
x

	
x

	
o

	
o

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
h.

	
Vested Matching (Formula 2)

	  	
o

	
n/a

	
o

	
o

	
o

	
o

	
o

	
o

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
i.

	
Vested Non-Elective (Formula 1)

	  	
o

	
n/a

	
o

	
o

	
o

	
o

	
o

	
o

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
j.

	
Vested Non-Elective (Formula 2)

	  	
o

	
n/a

	
o

	
o

	
o

	
o

	
o

	
o

	  	  	  	  	  	  	  	  	  	  	  	  
	  	
k.

	
Safe Harbor Matching

	  	
o

	
n/a

	
n/a

	
o

	
o

	
n/a

	
n/a

	
n/a

	  	  	  	  	  	  	  	
o

	
o

	  	  	  
	  	
l.

	
Safe Harbor Non-Elective

	  	
o

	
n/a

	
n/a

	
o

	
o

	
n/a

	
n/a

	
n/a

	  	  	  	  	  	  	  	
o

	
o

	  	  	  
	  	
m.

	
Qualified Non-Elective

	  	
o

	
n/a

	
n/a

	
o

	
o

	
n/a

	
n/a

	
n/a

	  	  	  	  	  	  	  	
o

	
o

	  	  	  
	  	
n.

	
Qualified Matching

	  	
o

	
n/a

	
n/a

	
o

	
o

	
n/a

	
n/a

	
n/a

 

  

	30	 401(k) NS AA #010

  

 

	  	  	  	  	  
	  	  	
Withdrawal Restriction Key

	  	  	  	  	  
	  	  	
A.

	
Not available for in-service withdrawals.

	  	  	  	  	  
	  	  	
B.

	
Available for in-service withdrawals without restrictions.

	  	  	  	  	  
	  	  	
C.

	
Participants having completed five (5) years of Plan participation may elect to withdraw all or any part of their Vested Account Balance.

	  	  	  	  	  
	  	  	
D.

	
Participants may withdraw all or any part of their Account Balance after having attained the Plan’s Normal Retirement Age (Normal Retirement Age cannot be less than age 591⁄2 for in-service withdrawal of Elective Deferrals, Roth Elective Deferrals, Safe Harbor Contributions, QMACs or QNECs).

	  	  	  	  	  
	  	  	
E.

	
Participants may withdraw all or any part of their Vested Account Balance after having attained age 59.5 (not less than age 591⁄2).

	  	  	  	  	  
	  	  	
F.

	
Participants may elect to withdraw all or any part of their Vested Account Balance which has been credited to their account for a period in excess of two (2) years.

	  	  	  	  	  
	  	  	
G.

	
Available for withdrawal only if the Participant is 100% vested (an election at (C), (D), (E) or (F) must also be made).

	  	  	  	  	  
	  	  	
H.

	
All requirements selected in (C) through (G) above must be satisfied prior to a distribution being made from the Plan.

	  	  	  	  	  
	  	
o

	
3.

	
In-service withdrawals may be made to Participants who have attained age 701⁄2.

	  	  	  	  	  
	  	
B.

	
Hardship Withdrawals:

	  	  	  	  	  
	  	  	
Prior to age 591⁄2, a Participant may withdraw balances attributable to Elective Deferrals (including Roth Elective Deferrals, if applicable) for reason of Hardship only. Safe Harbor Contributions, Qualified Matching Contributions, and Qualified Non-Elective Contributions are not available for Hardship distributions.

	  	  	  	  	  
	  	
o

	
1.

	
Hardship withdrawals are not permitted in the Plan.

	  	  	  	  	  
	  	
x

	
2.

	
Hardship withdrawals are permitted in the Plan and will be taken from the Participant’s account as follows (select one or more of these options):

	  	  	  	  	  
	  	  	
o

	
a.

	
Participants may withdraw Elective Deferrals.

	  	  	  	  	  
	  	  	
x

	
b.

	
Participants may withdraw Elective Deferrals and any earnings credited as of December 31, 1988 (or if later, the end of the last Plan Year ending before July 1, 1989).

	  	  	  	  	  
	  	  	
o

	
c.

	
Participants may withdraw Roth Elective Deferrals.

 

  

	31	 401(k) NS AA #010

  

 

	  	  	 	  	  
	  	
 

	
x

	
d.

	
Participants may withdraw Rollover Contributions plus their earnings.

	  	  	 	  	  
	  	
 

	
o

	
e.

	
Participants may withdraw vested Non-Elective Contributions (Formula 1) plus their earnings.

	  	  	 	  	  
	  	
 

	
o

	
f.

	
Participants may withdraw vested Non-Elective Contributions (Formula 2) plus their earnings.

	  	  	 	  	  
	  	
 

	o	
g.

	
Participants may withdraw fully vested Non-Elective Contributions (Formula 1) plus their earnings.

	  	  	 	  	  
	  	
 

	o	
h.

	
Participants may withdraw fully vested Non-Elective Contributions (Formula 2) plus their earnings.

	  	  	 	  	  
	  	
 

	x	
i.

	
Participants may withdraw vested Employer Matching Contributions (Formula 1) plus their earnings.

	  	  	 	  	  
	  	
 

	o	
j.

	
Participants may withdraw vested Employer Matching Contributions (Formula 2) plus their earnings.

	  	  	 	  	  
	  	
 

	
o

	
k.

	
Participants may withdraw Qualified Matching Contributions and Qualified Non-Elective Contributions plus their earnings, and the earnings on Elective Deferrals which have been credited to the Participant’s account as of December 31, 1988 (or if later, the end of the last Plan Year ending before July 1, 1989).

	  	  	 	  	  
	
XIV.

	
LOAN PROVISIONS

	  	  	 	  	  
	
o

	
A.

	Participant loans are not available from the Plan.
	  	  	 	  	  
	
x

	
B.

	Participant loans are permitted in accordance with the Employer’s established loan procedures.
	  	  	 	  	  
	
x

	
C.

	Loan payments will be suspended under the Plan as permitted under Code Section 414(u) in compliance with the Uniformed Services Employment and Reemployment Rights Act of 1994.
	  	  	 	  	  
	
XV.

	
INVESTMENT MANAGEMENT

	  	  	 	  	  
	  	
A.

	Investment Management Responsibility:
	  	  	 	  	  
	  	
o

	1.	The Employer shall appoint a discretionary Trustee to manage the assets of the Plan.
	  	  	 	  	  
	  	
o

	
2.

	The Employer shall retain investment management responsibility and/or authority. Unless otherwise appointed, the Trustee shall act in a nondiscretionary capacity.
	  	  	 	  	  
	  	
x

	
3.

	The party designated below shall be responsible for the investment of the Participant’s account. By selecting a box, the Employer is making a designation as to who will have authority to issue investment directives with respect to the specified contribution type (check all applicable boxes):

 

	  	  	  	  	
Trustee

	  	
Employer

	  	
Participant

	  	  	  	  	  	  	  	  	  
	  	
a.

	
All Contributions

	  	
n/a

	  	
n/a

	  	
[x]

	  	  	  	  	  	  	  	  	  
	  	
b.

	
Elective Deferrals/Roth Elective Deferrals

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
c.

	
Voluntary After-tax Contributions

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
d.

	
Required After-tax Contributions

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
e.

	
Safe Harbor Contributions

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
f.

	
Matching Contributions (Formula 1)

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
g.

	
Matching Contributions (Formula 2)

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
h.

	
QMACs

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
i.

	
QNECs

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
j.

	
Non-Elective Contributions (Formula 1)

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
k.

	
Non-Elective Contributions (Formula 2)

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
l.

	
Rollover Contributions

	  	
o

	  	
o

	  	
o

	  	  	  	  	  	  	  	  	  
	  	
m.

	
Deemed IRA Contributions

	  	
o

	  	
o

	  	
o

 

  

	32	 401(k) NS AA #010

  

 

	  	  	  	  	  
	  	  	  	  	
To the extent that Participant self-direction was previously permitted, the Employer shall have the right to either make the assets part of the general fund, or leave them as self-directed subject to the provisions of the Basic Plan Document #01.

	  	  	  	  	  
	  	
B.

	
Limitations on Participant Directed Investments:

	  	  	  	  	  
	  	
x

	
1.

	
Participants are permitted to invest among only those investment alternatives made available by the Employer under the Plan.

	  	  	  	  	  
	  	
o

	
2.

	
Participants are permitted to invest in any investment alternative permitted under the Basic Plan Document #01

	  	  	  	  	  
	
o

	
C.

	
Insurance:

	  	  	  	  	  
	  	  	
The Plan permits life insurance as an investment alternative.

	  	  	  	  	  
	
XVI.

	
DISTRIBUTION OPTIONS

	  	  	  	  	  
	  	
A.

	
Timing of Distributions [both (1) and (2) must be completed]:

	  	  	  	  	  
	  	  	
1.

	
Distributions payable as a result of termination for reasons other than death, Disability or retirement shall be paid c [select from the list at (A)(3) below].

	  	  	  	  	  
	  	  	
2.

	
Distributions payable as a result of termination for death, Disability or retirement shall be paid c [select from the list at (A)(3) below].

	  	  	  	  	  
	  	  	
3.

	
Distribution Options:

	  	  	  	  	  
	  	  	  	
a.

	
As soon as administratively feasible on or after the Valuation Date following the date on which a distribution is requested or is otherwise payable.

	  	  	  	  	  
	  	  	  	
b.

	
As soon as administratively feasible following the close of the Plan Year during which a distribution is requested or is otherwise payable.

	  	  	  	  	  
	  	  	  	
c.

	
As soon as administratively feasible following the date on which a distribution is requested or is otherwise payable. (This option is recommended for daily valuation plans.)

	  	  	  	  	  
	  	  	  	
d.

	
As soon as administratively feasible after the close of the Plan Year during which the Participant incurs ___________ [cannot be more than five (5)] consecutive one (1) year Breaks in Service.

	  	  	  	  	  
	  	  	  	
e.

	
Only after the Participant has attained the Plan’s Normal Retirement Age or Early Retirement Age, if applicable.

 

  

	33	 401(k) NS AA #010

  

	  	
B.

	
Required Beginning Date:

	  	  	  
	  	  	
The Required Beginning Date of a Participant with respect to the Plan is (select one from below):

	  	  	  
	  	
o

	
1.

	
The April 1 of the calendar year following the calendar year in which the Participant attains age 701⁄2

	  	  	  	  
	  	
x

	
2.

	
The April 1 of the calendar year following the calendar year in which the Participant attains age 701⁄2 except that distributions to a Participant (other than a 5% owner) with respect to benefits accrued after the later of the adoption of this Plan or Effective Date of the amendment of this Plan must commence no later than the April 1 of the calendar year following the later of the calendar year in which the Participant attains age 701⁄2 or the calendar year in which the Participant retires.

	  	  	  	  
	  	

o

	
3.

	
The later of the April 1 of the calendar year following the calendar year in which the Participant attains age 701⁄2 or retires except that distributions to a 5% owner must commence by the April 1 of the calendar year following the calendar year in which the Participant attains age 701⁄2.

	  	  	  	  
	  	  	
Option (3) may only be elected if (i) it corresponds to an amendment previously made to the Plan pursuant to Regulations Section 1.411(d)-4, Q&A-10(b), or (ii) it does not eliminate an age 701⁄2 distribution option as described in the preceding Regulations because either (A) the Plan is a new Plan or (B) Section XIII(A)(3) is checked or the Plan already offers a pre-retirement distribution at least as generous as Section XIII(A)(3).

	  	  	  	  
	  	
C.

	
Minimum Distribution Requirements:

	  	  	  	  
	  	

o

	
1.

	
Election to Apply Five (5) Year Rule to Distributions to Designated Beneficiaries: If the Participant dies before distributions begin and there is a Designated Beneficiary, distribution to the Designated Beneficiary is not required to begin by the date specified in the Basic Plan Document #01 but the Participant’s entire interest will be distributed to the Designated Beneficiary by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.

	  	  	  	  
	  	

o

	
2.

	
Election to Allow Participants or Beneficiaries to Elect Five (5) Year Rule: Participants or Beneficiaries may elect on an individual basis whether the five (5) year rule or the life expectancy rule described in the Basic Plan Document #01 applies to distributions after the death of a Participant who has a Designated Beneficiary. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under the Plan, or by September 30 of the calendar year which contains the fifth anniversary of the Participant’s (or, if applicable, surviving Spouse’s) death. If neither the Participant nor Beneficiary makes an election under this paragraph, distributions will be made in accordance with Article VII of the Basic Plan Document #01 and, if applicable, the elections in Section XVI(C)(1) above.

	  	  	  	  
	  	
D.

	
Forms of Payment (select all that apply):

	  	  	  	  
	  	  	
The normal form of payment is determined at Section III(J) of this Adoption Agreement. If option (1) or no selection is made in Section III(J), then options (4), (5) and (6) in this section cannot be selected.

	  	  	  	  
	  	
x

	
1.

	
Lump sum.

	  	  	  	  
	  	

x

	
2.

	
Installment payments.

	  	  	  	  
	  	

x

	
3.

	
Partial payments; the minimum amount will be $1000.

	  	  	  	  
	  	

o

	
4.

	
Life annuity.

	  	  	  	  
	  	

o

	
5.

	
Term certain annuity with payments guaranteed for ________ years [not to exceed twenty (20)].

	  	  	  	  
	  	

o

	
6.

	
Joint and [ ] 50%, [ ] 66-2/3%, [ ] 75% or [ ] 100% survivor annuity.

 

 

  

	34	 401(k) NS AA #010

  

 

	  	
E.

	
Type of Payment (select all that apply):

	 	 	 	 
	  	
x

	
1.

	
Cash.

	  	  	  	  	  	  
	  	

x

	
2.

	
Employer securities.

	  	  	  	  
	  	

o

	
3.

	
Other marketable securities.

	  	  	  	  
	  	

o

	
4.

	
Other: _____________________________________________________________ (fill in the blank with the type of other in-kind distributions allowed under the Plan).

	  	  	  	  	  	  
	  	
F.

	
Application of Involuntary Cash-out Provisions:

	  	  	  	  	  	  
	  	

o

	
1.

	
The Plan shall not make involuntary cash-outs to any terminated vested Participant. Distributions will only be made with the consent of the Participant.

	  	  	  	  	  	  
	  	
x

	
2.

	
The Plan shall make involuntary cash-outs to a terminated vested Participant as follows:

	  	  	  	  	  	  
	  	  	

o

	
a.

	
The Plan shall make involuntary cash-out distributions of Vested Account Balances of less than $200. Distribution of amounts $200 or greater shall only be made with the consent of the Participant.

	  	  	  	  	  
	  	  	

x

	
b.

	
The Plan shall make involuntary cash-out distributions of Vested Account Balances of $1,000 or less. Distribution of amounts greater than $1,000 shall only be made with the consent of the Participant.

	  	  	  	  	  
	  	  	
3.

	When determining the value of the Participant’s nonforfeitable account balance for purposes of the Plan’s involuntary cash-out rules, the Plan elects to:
	  	  	  	  	  	  
	  	  	
o

	

a.

	exclude Rollover Contributions.
	  	  	  	  	  	  
	  	     	
x

	

b.

	include Rollover Contributions.
	  	  	  	  	  
	  	  	  	If no selection is made, the Plan will exclude Rollover Contributions when determining the value of the Participant’s nonforfeitable account balance for involuntary cash-out purposes. Rollover Contributions, if any, will always be included when determining whether the $1,000 threshold has been exceeded.
	  	  	  
	  	
G.

	
Automatic Rollovers:

	  	  	  	  	  	  
	  	  	
Do not complete if a selection has been made at Section XVI(F)(1) or (2) above.

	  	  	  	  
	  	

o

	
1.

	
The Plan shall make automatic rollovers of Vested Account Balances that are greater than $1,000 but are not more than $5,000 in accordance with the provisions of Article VI of the Basic Plan Document #01.

	  	  	  	  	  	  
	  	

o

	
2.

	
The Plan shall make automatic rollovers of Vested Account Balances that are not more than $5,000 in accordance with the provisions of Article VI of the Basic Plan Document #01.

	  	  	  	  	  	  
	  	
H.

	
Distribution Upon Severance from Employment:

	  	  	  	  	  	  
	  	

o

	
1.

	
Not applicable.

	  	  	  	  	  	  
	  	
x

	
2.

	
Distribution upon severance from employment as described in the Basic Plan Document #01 shall apply for distributions after December 31, 2001 regardless of when the severance from employment occurred.

	  	  	  	  	  	  
	  	

o

	
3.

	
Distribution upon severance from employment as described in the Basic Plan Document #01 shall apply for distributions after ___________________ (no earlier than December 31, 2001) for severance from employment occurring after _______________ (enter the Effective Date if different than the Effective Date above).

 

  

	35	 401(k) NS AA #010

  

 

	
XVII.

	
SPONSOR INFORMATION AND ACCEPTANCE

	  	  
	  	
This Plan may not be used and shall not be deemed to be a Prototype Plan unless an authorized representative of the Sponsor has acknowledged the use of the Plan. Such acknowledgment that the Employer is using the Plan does not represent that the Adoption Agreement (as completed) and Basic Plan Document #01 have been reviewed by a representative of the Sponsor or constitute a qualified retirement plan.

	  	  
	  	
Acknowledged and accepted by the Sponsor this 22nd day of October, 2012.

 

	
Name:

	
Robert D. Alin

	  
	  	  	  
	
Title:

	
1st SVP, Secretary & General Counsel

	  
	  	  	  
	
Signature:

	/s/ Robert D. Alin	  
	  	  	  
	
Questions concerning the language contained in and qualification of the Prototype should be addressed to:

	  

 

	
(Position): _________________________________________

	  	
(Phone Number): _________________________________________

 

	  	
In the event that the Sponsor amends, discontinues or abandons this Prototype Plan, notification will be provided to the Employer’s address provided on the first page of this Adoption Agreement.

 

  

	36	 401(k) NS AA #010

  

 

	
XVIII.

	
SIGNATURES

	  	  
	  	
Completion of this Adoption Agreement requires consideration of complex tax and legal issues. The Employer should consult with or should obtain the advice of its legal counsel and/or tax advisor before executing this Adoption Agreement. By executing this Adoption Agreement, the Employer acknowledges that it is a legal document with significant tax and legal ramifications. The Employer understands that its failure to properly complete or amend this Adoption Agreement may result in failure of the Plan to qualify or in disqualification of the Plan. Neither the Sponsor nor any of its agents or affiliates assumes any responsibility for the completion and operation of the Plan established under this Adoption Agreement and Basic Plan Document #01.

	  	  
	
A.

	
Employer:

	  	  
	  	
This Adoption Agreement and the corresponding provisions of Basic Plan Document #01 are adopted by the Employer this__________ day of _____________________, ___________.

 

	  	
Executed on behalf of the Employer by:

	  
	 	 	 
	  	
Title:

	  
	 	 	 
	  	
Signature:

	  
	  	  
	  	
Employer’s Reliance: The adopting Employer may rely on an Opinion Letter issued by the Internal Revenue Service as evidence that the Plan is qualified under Code Section 401 except to the extent provided in Revenue Procedure 2005-16. The Employer may not rely on the Opinion Letter in certain other circumstances or with respect to certain qualification requirements, which are specified in the Opinion Letter issued with respect to the Plan and in Revenue Procedure 2005-16. In order to have reliance in such circumstances or with respect to such qualification requirements, application for a determination letter must be made to Employee Plans Determinations of the Internal Revenue Service. This Adoption Agreement may only be used in conjunction with Basic Plan Document #01.

 

  

	37	 401(k) NS AA #010

  

 

	  	  	  
	  	
B.

	
Trust Agreement/Custodial Agreement:

	  	  	  
	  	
o

	
Plan assets will be invested in group annuity contracts and the terms of the contract(s) will apply.

	  	  	  
	  	

o

	
Plan assets are held in a tax qualified Trust. The Trust provisions used will be as contained in the Basic Plan Document #01.

	  	  	  
	  	
x

	
Plan assets are held in a tax qualified Trust. The Trust provisions used will be as contained in the accompanying pre-approved executed Trust Agreement between the Employer and the Trustee attached hereto.

	  	  	  
	  	

o

	
Plan assets are being held in a Custodial Account arrangement. The Custodial Account provisions used will be as contained in the Basic Plan Document #01.

	  	  	  
	  	

x

	
Plan assets are being held in a Custodial Account arrangement. The Custodial Account provisions used will be as contained in the accompanying pre-approved executed Custodial Account Agreement between the Employer and the Custodian attached hereto.

	  	  	  
	  	
C.

	
Trustee:

	  	  	  
	  	

x

	
The Trustee appointed shall act in the capacity of a non-discretionary directed Trustee.

	  	  	  
	  	

o

	
The Trustee appointed shall act in the capacity of a discretionary Trustee.

Name and address of Trustee:

	  	  	

Pentegra Trust Company

c/o Pentegra Services, Inc.

108 Corporate Park Drive

White Plains, NY 10604

	  	  	  
	  	  	
The Employer’s Plan as contained herein is accepted by the Trustee this ____________ day of  ____________________, ___________.

 

	  	
Accepted on behalf of the Trustee by:

	  
	  	  	  
	  	
Title:

	  
	  	  	  
	  	
Signature:

	  
	  	  	  
	  	
Accepted on behalf of the Trustee by:

	  
	  	  	  
	  	
Title:

	  
	  	  	  
	  	
Signature:

	  
	  	  	  
	  	
Accepted on behalf of the Trustee by:

	  
	  	  	  
	  	
Title:

	  
	  	  	  
	  	
Signature:

	  

 

  

	38	 401(k) NS AA #010

  

 

	  	  	  	  
	  	
D.

	
Custodian:

	  	  	  
	  	  	
Name and address of Custodian:

	  	  	  
	  	  	
Reliance Trust Company

1100 Abernathy Drive NE

Suite 400

Atlanta, GA 30328

	  	  	  
	  	  	
The Employer’s Plan as contained herein is accepted by the Custodian this __________ day of ________________, __________.

	  	  	  
	  	  	
Accepted on behalf of the Custodian by:

	  
	  	  	  	  
	  	  	
Title:

	  
	  	  	  	  
	  	  	
Signature:

	  

 

  

	39	 401(k) NS AA #010

  

 

PARTICIPATION AGREEMENT

 

Each Participating Employer must execute a separate Participation Agreement. If not applicable, do not complete this Participation Agreement.

 

By executing this Participation Agreement, the undersigned Employer elects to become a Participating Employer in the Plan and accompanying Adoption Agreement as if the Participating Employer were a signatory to the Adoption Agreement. The Participating Employer accepts, and agrees to be bound by, all of the elections granted under the provisions of the Prototype Plan as made by the signatory sponsoring Employer in Section XVIII(A) of the Adoption Agreement. Further, the Participating Employer hereby appoints the signatory sponsoring Employer as its attorney in fact for the purpose of adopting on its behalf of all future amendments whether required or voluntary and any applicable corresponding documents (e.g., Loan Policy, QDRO procedures, Trust Agreement). This includes the adoption of all future Model Amendments to this Prototype Plan which are required by the U.S. Department of the Treasury or the Internal Revenue Service as a result of a modification or amendment of applicable Federal laws or regulations that become effective subsequent to the execution of this Participation Agreement.

	  	  	  	  
	
A.

	
PARTICIPATING EMPLOYER:

	  	  
	  	
Name and address of any Participating Employer.

	  	  
	  	  	  	  
	  	
First Northwest Bancorp

	  	  
	  	  	  	  
	  	
Phone Number: __________________

	  	
Tax ID Number: _________________

	  	  	  	  
	
B.

	
EFFECTIVE DATE:

	  	  
	  	
The Effective Date of the Plan for the Participating Employer is:   December 1, 2012.

	  	  	  	  
	
x

	
This is an adoption of a new plan by the Participating Employer.

	  	  	  	  
	
o

	
This is an adoption of an amendment and/or restatement of a plan currently maintained by the Participating Employer identified as follows:

	  	  	  	  
	  	
Name of Plan: First Federal Savings & Loan Association of Port Angeles 401(k) Plan

	  	  	  	  
	  	
Original Effective Date: December 1, 2012

	  	  	  	  
	
C.

	
SIGNATURES:

	  	  
	  	
Executed on behalf of the Participating Employer by:

	  	  
	  	  	  	  
	  	
Title:

	  	  
	  	  	  	  
	  	
Signature:

	  	  
	  	  	  	  
	  	
Executed on behalf of the Signatory Sponsoring Employer by:

	  	  
	  	  	  	  
	  	
Title:

	  	  
	  	  	  	  
	  	
Signature:

	  	  
	  	  	  	  
	  	
Executed on behalf of the Trustee by:

	  	  
	  	  	  	  
	  	
Title:

	  	  
	  	  	  	  
	  	
Signature:

	  	  

 

  

	40	 401(k) NS AA #010

  

 

SCHEDULE A

 

PROTECTED BENEFITS

 

This Schedule describes Code Section 411(d)(6) protected benefits included in the adopting Employer’s prior plan document that are not available in this Prototype Defined Contribution Plan, Basic Plan Document #01. Complete as applicable.

	  	  	  	  
	
1.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  
	  	  	  
	
2.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  
	  	  	  
	
3.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  
	  	  	  
	
4.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  
	  	  	  
	
5.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  

 

  

	41	 401(k) NS AA #010

  

 

SCHEDULE B

 

PRIOR PLAN PROVISIONS

 

This Schedule should be used by the adopting Employer if a prior plan contains provisions not found in this Prototype Defined Contribution Plan, Basic Plan Document #01, or where the Employer wishes to document transactions or historical provisions of the Employer’s Plan.

	  	  	  	  
	
1.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  
	  	  	  
	
2.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  
	  	  	  
	
3.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  
	  	  	  
	
4.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  
	  	  	  
	
5.

	
Plan Provision:

	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	  	  
	  	
Effective Date:

	  	  

 

  

	42	 401(k) NS AA #010

  

 

SCHEDULE C

 

SAFE HARBOR ELECTIONS FOR FLEXIBLE NON-ELECTIVE CONTRIBUTION

 

The following elections are made with regard to the Plan’s Safe Harbor status pursuant to Section VII herein. For Plan Years indicated below, the Plan hereby invokes a Safe Harbor status in accordance with IRS Notices 98-52 and 2000-3.

 

For all Plan Years in which this Safe Harbor election is being made, the limitations and restrictions found in Section VII herein apply.

	  	  
	
1.

	
For the Plan Year beginning _____ and ending _____, the Employer hereby invokes a Safe Harbor status as provided in IRS Notice 2000-3. The Safe Harbor Contribution will be an amount equal to _____% (not less than 3%) of Compensation. This election is made on this _____ day of _____, _____ (date may not be later than 30 days prior to the end of the Plan Year in which such election is being made).

	  	  
	
2.

	
For the Plan Year beginning _____ and ending _____, the Employer hereby invokes a Safe Harbor status as provided in IRS Notice 2000-3. The Safe Harbor Contribution will be an amount equal to _____% (not less than 3%) of Compensation. This election is made on this _____ day of _____, _____ (date may not be later than 30 days prior to the end of the Plan Year in which such election is being made).

	  	  
	
3.

	
For the Plan Year beginning _____ and ending _____, the Employer hereby invokes a Safe Harbor status as provided in IRS Notice 2000-3. The Safe Harbor Contribution will be an amount equal to _____% (not less than 3%) of Compensation. This election is made on this _____ day of _____, _____ (date may not be later than 30 days prior to the end of the Plan Year in which such election is being made).

	  	  
	
4.

	
For the Plan Year beginning _____ and ending _____, the Employer hereby invokes a Safe Harbor status as provided in IRS Notice 2000-3. The Safe Harbor Contribution will be an amount equal to _____% (not less than 3%) of Compensation. This election is made on this _____ day of _____, _____ (date may not be later than 30 days prior to the end of the Plan Year in which such election is being made).

	  	  
	
5.

	
For the Plan Year beginning _____ and ending _____, the Employer hereby invokes a Safe Harbor status as provided in IRS Notice 2000-3. The Safe Harbor Contribution will be an amount equal to _____% (not less than 3%) of Compensation. This election is made on this _____ day of _____, _____ (date may not be later than 30 days prior to the end of the Plan Year in which such election is being made).

 

  

	43	 401(k) NS AA #010

  

 

SCHEDULE D

 

COLLECTIVE AND COMMINGLED FUNDS

 

The Trustee is authorized to invest all or any part of the Fund in the following Collective and Commingled Funds as provided for in the Basic Plan Document #01:

 

	
1.

	  
	
2.

	  
	
3.

	  
	
4.

	  
	
5.

	  
	
6.

	  
	
7.

	  
	
8.

	  
	
9.

	  
	
10.

 

  

	44	 401(k) NS AA #010

  

 

SCHEDULE E

MISCELLANEOUS ADMINISTRATIVE ELECTIONS

 

The following elections are made with regard to the administration of the Plan:

	  	  	  	  	  
	
o

	
1.

	
ERISA Section 404(c): The Employer intends to be covered by the fiduciary liability provisions with respect to Participant-directed investments under ERISA Section 404(c). Under the terms of this Plan, Participants (or their Beneficiaries) have a reasonable opportunity to give instructions to the Plan Administrator in accordance with the policy set by the Plan Administrator (whether written, oral, or in electronic form) regarding the choice of investment of their account balance. The Plan Administrator is obligated to comply with the Participant’s or Beneficiary’s investment instructions unless complying with such instructions would result in a prohibited transaction under the Code, ERISA or the Department of Labor, violate the Plan document, or jeopardize the Plan’s tax-qualified status.

	  	  	  
	
x

	
2.

	
Fees: Listed below are the charges your account will incur as a condition of the receipt of a benefit under the Plan, depending upon the transaction involved.

 

	  	
x

	
a.

	
Participants have the ability to take a loan from the Plan. [x] There will be a loan set-up fee of $50 paid from the account prior to obtaining a loan from the Plan. [x] $40 will be charged on an annual basis until the loan is paid in full. [x] The loan set-up charge is deducted from the Participant’s account. All other costs of administering the Plan will be paid by the Employer or from Plan assets.

	  	  	  	  
	  	
x

	
b.

	
The costs of administering the Plan are shared between Participants and the Employer.

	  	  	  	  
	  	
o

	
c.

	
A service fee equal to $___ / ___% of a Participant’s account balance will be charged per [ ] Plan quarter [ ] Plan Year.

	  	  	  	  
	  	
o

	
d.

	
All costs of administering the Plan will be paid by the Employer or from Plan assets.

	  	  	  	  
	  	
o

	
e.

	
In order to maintain a self-directed brokerage option, Participants will be charged an initial fee of $_______ [ ] and annual fee of $_________.

	  	  	  	  
	  	
o

	
f.

	
To obtain a Hardship distribution, Participants will incur a charge of $_________.

	  	  	  	  
	  	
x

	
g.

	
Qualified Domestic Relations Order (QDRO) presented to the Plan for payment will be charged $500 to the Participant’s/Alternate Payee’s account for processing.

	  	  	  	  
	  	
o

	
h.

	
Other:

 

	
o

	
3.

	
Automatic Rollover Of Distributions: If a Plan Participant does not elect to take a distribution and include it in income or have the distribution rolled over to either a qualified retirement plan or an Individual Retirement Account (“IRA”), the Plan is required to make a Direct Rollover of the distribution to an IRA. The Employer as Plan Sponsor has the authority to execute the documents necessary to establish the IRA account, and once established, the Trustee/Issuer of the IRA will provide the Participant with a Disclosure Statement detailing the terms and conditions as well as any fees imposed on the IRA, including the procedures regarding the seven (7) day revocation period. The Plan has selected the following IRA Trustee/Issuer:

	  	
Name:

	
_______________________________________________________________________________________________________

	  	  	  
	  	
Address:

	  
	  	  	  
	  	
Phone:

	

_______________________________________________________________________________________________________

	  	  
	  	
The initial IRA setup fee shall be: _______________________________________________________________________________________

	  	  
	  	
The initial IRA setup fee shall be paid by: ________________________________________________________________________________

	  	  
	  	
The IRA Provider’s annual fee shall be: __________________________________________________________________________________

	  	  
	  	
The IRA funds shall be invested in:

 

  

	45	 401(k) NS AA #010

  

 

RESOLUTION OF THE BOARD OF DIRECTORS

OF

First Federal Savings & Loan Association of Port Angeles

 

I, _____________________________, Secretary of First Federal Savings & Loan Association of Port Angeles (the “Corporation”), hereby certify that the following is a true copy of resolutions duly adopted by the Board of Directors of the Corporation at a meeting held on __________________ at which a quorum was present and acting throughout.

 

WHEREAS, the Corporation previously participated in the Pentegra Defined Contribution Plan for Financial Institutions (a multiple employer plan) and now desires to adopt a single employer qualified retirement plan;

 

NOW THEREFORE, be it resolved, that the Corporation hereby adopts a 401(k) plan in the form of Pentegra Retirement Services Prototype Defined Contribution Plan and Trust and the accompanying Adoption Agreement filed with the minutes of this meeting (the “Plan”), and appoints the entity specified in the Adoption Agreement as Trustee(s) effective as of December 1, 2012;

 

RESOLVED, that the proper officers of the Corporation are hereby authorized and directed to execute all necessary documents setting forth the terms and conditions of the Corporation’s Plan, and each of them is hereby authorized and directed in the name of and on behalf of the Corporation, to execute and deliver the Adoption Agreement and to do all other things, including the execution of any other documents which they deem necessary or appropriate to implement the foregoing resolution or otherwise pertaining to the Plan;

 

RESOLVED, that the Corporation hereby designates the following individual(s) or position(s) to serve as the Plan Administrator under the terms of the Plan;

 

RESOLVED, that the Treasurer is hereby authorized and directed to remit to the Plan such sums in accordance with the terms of the Plan from year to year until otherwise directed by the Board.

 

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Corporation on the _______ day of __________________.

	  	  
	 	 
	
Secretary

	  
	  	  
	
Corporate Seal

	  

 

 

 

	 46	  401(k) NS AA #010Form of Indenture for Debt

 Exhibit 4.6 

 
  
 Tejon Ranch Co., 
 as Issuer 

 
  

INDENTURE 

Dated as of [                    ]

  
  

[                       
                 ] 
 as Trustee 

Debt Securities 
  

 

 [CROSS-REFERENCE SHEET* 

 

					
	 TIA Section
	  	Indenture Section	 
		
	 310 (a)(1)
	  	 	7.9	  
	        (a)(2)
	  	 	7.9	  
	        (a)(3)
	  	 	N/A	  
	        (a)(4)
	  	 	N/A	  
	        (a)(5)
	  	 	N/A	  
	        (b)
	  	 	N/A	  
	 311 (a)
	  	 	7.10	  
	        (b)
	  	 	7.10	  
	 312 (a)
	  	 	2.6	  
	        (b)
	  	 	10.2	  
	        (c)
	  	 	N/A	  
	 313 (a)
	  	 	N/A	  
	        (b)(1)
	  	 	N/A	  
	        (b)(2)
	  	 	N/A	  
	        (c)
	  	 	10.1	  
	        (d)
	  	 	N/A	  
	 314 (a)
	  	 	4.5(a)	  
	        (b)
	  	 	N/A	  
	        (c)(1)
	  	 	2.3, 8.1(a)–(c), 10.03, 11.03	  
	        (c)(2)
	  	 	2.3, 8.1(a)–(c), 10.03, 11.03	  
	        (c)(3)
	  	 	8.1(a) and (b)	  
	        (d)
	  	 	N/A	  
	        (e)
	  	 	10.04	  
	        (f)
	  	 	N/A	  
	 315 (a)
	  	 	7.1(b)	  
	        (b)
	  	 	7.5	  
	        (c)
	  	 	7.1(a)	  
	        (d)
	  	 	7.1(c), 7.2(d)	  
	        (e)
	  	 	6.14	  
	 316 (a) (last sentence)
	  	 	2.10	  
	        (a)(1)(A)
	  	 	6.12	  
	        (a)(1)(B)
	  	 	6.13	  
	        (a)(2)
	  	 	N/A	  
	        (b)
	  	 	6.8	  
	 317 (a)(1)
	  	 	6.3, 6.5	  
	        (a)(2)
	  	 	6.4	  
	        (b)
	  	 	2.5	  
	        318(a)
	  	 	N/A	  

  

	*	This cross reference sheet shall not, for any purpose, be deemed to be a part of the Indenture. 

 Attention should also be directed to Section 318(c) of the Trust Indenture Act of 1939, as amended, which provides that the provisions of Sections 310 through 317 of such Act are a part of and govern
every qualified indenture, whether or not physically contained therein.] 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
	 Section 1.1.
	  	 Definitions.
	  	 	1	  
	 Section 1.2.
	  	 Other Definitions.
	  	 	5	  
	 Section 1.3.
	  	 Rules of Construction.
	  	 	5	  
	 ARTICLE II. THE SECURITIES
	  	 	5	  
	 Section 2.1.
	  	 Issuable in Series.
	  	 	5	  
	 Section 2.2.
	  	 Establishment of Terms of Series of Securities.
	  	 	6	  
	 Section 2.3.
	  	 Execution and Authentication.
	  	 	8	  
	 Section 2.4.
	  	 Registrar, Paying Agent and Transfer Agent.
	  	 	10	  
	 Section 2.5.
	  	 Paying Agent to Hold Money in Trust.
	  	 	10	  
	 Section 2.6.
	  	 Securityholder Lists.
	  	 	11	  
	 Section 2.7.
	  	 Transfer and Exchange.
	  	 	11	  
	 Section 2.8.
	  	 Mutilated, Destroyed, Lost and Stolen Securities.
	  	 	11	  
	 Section 2.9.
	  	 Outstanding Securities.
	  	 	12	  
	 Section 2.10.
	  	 Treasury Securities.
	  	 	13	  
	 Section 2.11.
	  	 Temporary Securities.
	  	 	13	  
	 Section 2.12.
	  	 Cancellation.
	  	 	13	  
	 Section 2.13.
	  	 Global Securities.
	  	 	13	  
	 Section 2.14.
	  	 CUSIP Numbers.
	  	 	15	  
	 ARTICLE III. REDEMPTION
	  	 	15	  
	 Section 3.1.
	  	 Notice to Trustee; No Liability for Calculations.
	  	 	15	  
	 Section 3.2.
	  	 Selection of Securities to be Redeemed.
	  	 	15	  
	 Section 3.3.
	  	 Notice of Redemption.
	  	 	16	  
	 Section 3.4.
	  	 Effect of Notice of Redemption.
	  	 	17	  
	 Section 3.5.
	  	 Deposit of Redemption Price.
	  	 	17	  
	 Section 3.6.
	  	 Securities Redeemed in Part.
	  	 	17	  
	 Section 3.7.
	  	 Sinking Fund.
	  	 	18	  
	 Section 3.8.
	  	 Satisfaction of Sinking Fund Payments with Securities.
	  	 	18	  
	 Section 3.9.
	  	 Redemption of Securities for Sinking Fund.
	  	 	18	  
	 ARTICLE IV. COVENANTS
	  	 	19	  
	 Section 4.1.
	  	 Payment of Principal, Premium and Interest.
	  	 	19	  
	 Section 4.2.
	  	 Compliance Certificate.
	  	 	19	  
	 Section 4.3.
	  	 Stay, Extension and Usury Laws.
	  	 	19	  
	 Section 4.4.
	  	 Corporate Existence.
	  	 	20	  
	 Section 4.5.
	  	 Reports.
	  	 	20	  
	 ARTICLE V. SUCCESSORS
	  	 	20	  
	 Section 5.1.
	  	 Consolidation, Merger and Sale of Assets.
	  	 	20	  
	 ARTICLE VI. DEFAULTS AND REMEDIES
	  	 	21	  
	 Section 6.1.
	  	 Events of Default.
	  	 	21	  
	 Section 6.2.
	  	 Acceleration of Maturity; Rescission and Annulment.
	  	 	22	  
	 Section 6.3.
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee.
	  	 	22	  
	 Section 6.4.
	  	 Trustee May File Proofs of Claim.
	  	 	23	  
	 Section 6.5.
	  	 Trustee May Enforce Claims Without Possession of Securities.
	  	 	24	  

  
 i 

							
	 Section 6.6.
	  	 Application of Money Collected.
	  	 	24	  
	 Section 6.7.
	  	 Limitation on Suits.
	  	 	24	  
	 Section 6.8.
	  	 Unconditional Right of Holders to Receive Principal and Interest.
	  	 	25	  
	 Section 6.9.
	  	 Restoration of Rights and Remedies.
	  	 	25	  
	 Section 6.10.
	  	 Rights and Remedies Cumulative.
	  	 	25	  
	 Section 6.11.
	  	 Delay or Omission Not Waiver.
	  	 	26	  
	 Section 6.12.
	  	 Control by Holders.
	  	 	26	  
	 Section 6.13.
	  	 Waiver of Past Defaults.
	  	 	26	  
	 Section 6.14.
	  	 Undertaking for Costs.
	  	 	26	  
	 ARTICLE VII. TRUSTEE
	  	 	27	  
	 Section 7.1.
	  	 Duties of Trustee.
	  	 	27	  
	 Section 7.2.
	  	 Rights of Trustee.
	  	 	28	  
	 Section 7.3.
	  	 May Hold Securities.
	  	 	29	  
	 Section 7.4.
	  	 Trustee’s Disclaimer.
	  	 	30	  
	 Section 7.5.
	  	 Notice of Defaults.
	  	 	30	  
	 Section 7.6.
	  	 Compensation and Indemnity.
	  	 	30	  
	 Section 7.7.
	  	 Replacement of Trustee.
	  	 	31	  
	 Section 7.8.
	  	 Successor Trustee by Merger, etc.
	  	 	32	  
	 Section 7.9.
	  	 Eligibility; Disqualification.
	  	 	33	  
	 Section 7.10.
	  	 Preferential Collection of Claims Against Issuer.
	  	 	33	  
	 ARTICLE VIII. DISCHARGE OF INDENTURE
	  	 	33	  
	 Section 8.1.
	  	 Termination of Issuer’s Obligations.
	  	 	33	  
	 Section 8.2.
	  	 Application of Trust Money.
	  	 	37	  
	 Section 8.3.
	  	 Repayment to Issuer.
	  	 	37	  
	 Section 8.4.
	  	 Reinstatement.
	  	 	37	  
	 ARTICLE IX. AMENDMENTS AND WAIVERS
	  	 	37	  
	 Section 9.1.
	  	 Without Consent of Holders.
	  	 	37	  
	 Section 9.2.
	  	 With Consent of Holders.
	  	 	38	  
	 Section 9.3.
	  	 Limitations.
	  	 	39	  
	 Section 9.4.
	  	 Form of Amendments.
	  	 	40	  
	 Section 9.5.
	  	 Revocation and Effect of Consents.
	  	 	40	  
	 Section 9.6.
	  	 Notation on or Exchange of Securities.
	  	 	40	  
	 Section 9.7.
	  	 Trustee Protected.
	  	 	40	  
	 ARTICLE X. MISCELLANEOUS
	  	 	41	  
	 Section 10.1.
	  	 Notices.
	  	 	41	  
	 Section 10.2.
	  	 Communication by Holders with Other Holders.
	  	 	42	  
	 Section 10.3.
	  	 Certificate and Opinion as to Conditions Precedent.
	  	 	42	  
	 Section 10.4.
	  	 Statements Required in Certificate or Opinion.
	  	 	42	  
	 Section 10.5.
	  	 Rules by Trustee and Agents.
	  	 	43	  
	 Section 10.6.
	  	 Legal Holidays.
	  	 	43	  
	 Section 10.7.
	  	 No Personal Liability of Directors, Officers, Employees and Certain Others.
	  	 	43	  
	 Section 10.8.
	  	 Counterparts.
	  	 	43	  
	 Section 10.9.
	  	 Governing Laws.
	  	 	43	  
	 Section 10.10.
	  	 No Adverse Interpretation of Other Agreements.
	  	 	44	  
	 Section 10.11.
	  	 Successors.
	  	 	44	  

  
 ii 

							
	 Section 10.12.
	  	 Severability.
	  	 	44	  
	 Section 10.13.
	  	 Table of Contents, Headings, Etc.
	  	 	44	  
	 Section 10.14.
	  	 Judgment Currency.
	  	 	44	  
	 Section 10.15.
	  	 English Language.
	  	 	45	  
	 Section 10.16.
	  	 Submission to Jurisdiction; Appointment of Agent.
	  	 	45	  
	 Section 10.17.
	  	 Waiver of Immunity.
	  	 	45	  
	 Section 10.18.
	  	 Waiver of Jury Trial.
	  	 	46	  

  
 iii

 Indenture dated as of
[                    ] between Tejon Ranch Co., a Delaware corporation (the “Issuer”), and
[                    ], as trustee (the “Trustee”). 
 Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders (as defined below) of the Securities (as defined below) issued under this Indenture.

 ARTICLE I. 
 DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.1. Definitions.

 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled
by or under common control with such specified Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common control
with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities or by
agreement or otherwise. 
 “Agent” means any Registrar, Paying Agent or Transfer Agent or any other agent
appointed pursuant to this Indenture. 
 “Board of Directors” means the Board of Directors of the Issuer, or
any duly authorized committee thereof. 
 “Board Resolution” means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Issuer to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certification and delivered to the Trustee.

 “Business Day” means, unless otherwise provided by Board Resolution, Officer’s Certificate or
supplemental indenture for a particular Series, any day except a Saturday, Sunday or a Legal Holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. 

“Capital Stock” means (1) in the case of a corporation, corporate stock; (2) in the case of an association or
business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (3) in the case of a partnership or limited liability company, partnership interests (whether general or
limited) or membership interests; and (4) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of the
foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock. 
 “Certificated Securities” means definitive Securities in registered non-global certificated form. 

  
 1 

 “Company Order” or “Company Request” means a written order
signed in the name of the Issuer by one of the Officers of the Issuer. 
 “Corporate Trust Office” means the
office of the Trustee at which at any particular time its corporate trust business shall be principally administered, which, as of the date hereof is the address set forth in Section 10.1. 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default.

 “Depositary” means, with respect to the Securities of any Series issuable or issued in whole or in part in
the form of one or more Global Securities, the Person designated as Depositary for such Series by the Issuer which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such Person,
“Depositary” as used with respect to the Securities of any Series shall mean the Depositary with respect to the Securities of such Series. 
 “Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.2. 
 “Dollars” or “$” means the currency of The United
States of America. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“GAAP” means accounting principles generally accepted in the United States of America set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been
approved by a significant segment of the accounting profession, which are in effect from time to time. 
 “Global
Security” or “Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities, issued to the Depositary for such
Series or its nominee, and registered in the name of such Depositary or nominee. 
 “Government Obligations”
means securities which are (i) direct obligations of The United States of America for the payment of which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of The United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by The United States of America, and which in the case of (i) and (ii) are not callable or redeemable
at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific payment of interest on or principal of any such Government
Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository
receipt from any amount received by the custodian with respect to the Government Obligation evidenced by such depository receipt. 

  
 2 

 “Holder” or “Securityholder” means a Person in whose name
a Security is registered in the register maintained by the Registrar. 
 “Indenture” means this Indenture as
amended or supplemented from time to time and shall include the form and terms of particular Series of Securities established as contemplated hereunder. 
 “Issue Date” means, with respect to any Security, the date of original issuance of such Security. 
 “Maturity”, when used with respect to any Security, means the date on which the principal of such Security becomes due and payable as therein or herein provided, whether at the Stated
Maturity or by declaration of acceleration, call for redemption or otherwise. 
 “Officer” means the Chief
Executive Officer, Chief Operating Officer, Chief Financial Officer, Chief Accounting Officer, President, any Vice-President, the Treasurer, a Director, the Chairman, the Secretary, any Assistant Treasurer or any Assistant Secretary of the Issuer.

 “Officer’s Certificate” means a certificate signed by an Officer of the Issuer. 

“Opinion of Counsel” means a written opinion of legal counsel who is acceptable to the Trustee. The counsel may be a
direct or indirect employee of or counsel to the Issuer. 
 “Periodic Offering” means an offering of Securities
of a Series from time to time, during which any or all of the specific terms of the Securities, including the rate or rates of interest, if any, thereon, the maturity or maturities thereof and the redemption provisions, if any, with respect thereto,
are to be determined by the Issuer or its agents upon the issuance of such Securities in accordance with the terms of the relevant supplemental indenture. 
 “Person” means any individual, corporation, partnership, limited liability company, association, joint venture, trust, joint stock company or any other entity or organization, including a
government or political subdivision or an agency or instrumentality thereof. 
 “principal” of a Security means
the principal of the Security plus, when appropriate, the premium, if any, on the Security. 
 “Responsible
Officer” means any officer of the Trustee in its Corporate Trust Office responsible for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust
matter is referred because of his or her knowledge of and familiarity with a particular subject. 
 “Restricted
Security”, with respect to any Series of Securities, means a Security of such Series, unless or until it has been (i) effectively registered under the Securities Act and 

  
 3 

 
disposed of in accordance with a registration statement with respect to such Series or (ii) distributed to the public pursuant to Rule 144 under the Securities Act or any similar provision
then in force. 
 “SEC” means the Securities and Exchange Commission. 

“Securities” means the debentures, notes or other debt instruments of the Issuer of any Series authenticated and
delivered under this Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Series” or “Series of Securities” means each series of Securities of the Issuer created pursuant to
Sections 2.1 and 2.2 hereof. 
 “Stated Maturity” when used with respect to any Security, means the date
specified in such Security as the fixed date on which the principal of such Security or interest is due and payable. 

“Subsidiary” means, with respect to any specified Person, (a) any corporation, association or other business entity
of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers
voting power) to vote in the election of directors, managers or trustees of the corporation, association or other business entity which is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other
subsidiaries of that Person (or a combination thereof); and (b) any partnership or limited liability company of which (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited
partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited
partnership interests or otherwise, and (y) such Person or any subsidiary of such Person is a controlling general partner or otherwise controls such entity. 
 “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. 
 “Unrestricted
Securities”, with respect to any Series of Securities, means a Security (i) effectively registered under the Securities Act and disposed of in accordance with a registration statement with respect to such Series or
(ii) distributed to the public pursuant to Rule 144 under the Securities Act or any similar provision then in force. 

  
 4 

 Section 1.2. Other Definitions. 

 

			
	 TERM
	  	DEFINED
IN
SECTION
		
	 “Acceleration Notice”
	  	6.2
	 “Bankruptcy Law”
	  	6.1
	 “covenant defeasance”
	  	8.1(b)
	 “Custodian”
	  	6.1
	 “Event of Default”
	  	6.1
	 “Issuer”
	  	Preamble
	 “Judgment Currency”
	  	10.14
	 “legal defeasance”
	  	8.1(c)
	 “Legal Holiday”
	  	10.6
	 “New York Banking Day”
	  	10.14
	 “Paying Agent”
	  	2.4
	 “Process Agent”
	  	10.16
	 “Registrar”
	  	2.4
	 “Related Proceeding”
	  	10.16
	 “Required Currency”
	  	10.14
	 “Successor Company”
	  	5.1(a)
	 “TIA”
	  	7.10
	 “Transfer Agent”
	  	2.4

 Section 1.3. Rules of Construction. 

Unless the context otherwise requires: 
 (a) a term has the meaning assigned to it; 
 (b) an accounting term
not otherwise defined has the meaning assigned to it in accordance with GAAP; 
 (c) “or” is not
exclusive and “including” means including without limitation; 
 (d) words in the singular
include the plural, and in the plural include the singular; and 
 (e) provisions apply to successive events and
transactions. 
 ARTICLE II. 
 THE SECURITIES 
 Section 2.1. Issuable in Series. 

The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities
may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth in, or pursuant to a Board Resolution, Officer’s Certificate or supplemental indenture establishing the terms of such Series of
Securities. 

  
 5 

 Section 2.2. Establishment of Terms of Series of Securities. 

At or prior to the issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the
case of Subsection 2.2.1 and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through 2.2.28) by or pursuant to a Board Resolution, Officer’s Certificate or supplemental indenture:

 2.2.1. the title of the Series of Securities (which shall distinguish the Securities of that particular Series from the
Securities of any other Series); 
 2.2.2. any limit upon the aggregate principal amount of the Securities of the Series which
may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.7, 2.8, 2.11,
3.6, 9.3 or 9.6); 
 2.2.3. the date or dates on which the principal and premium, if any, of the Securities of the Series is
payable; 
 2.2.4. the rate or rates, which may be fixed or variable, at which the Securities of the Series shall bear interest
or the manner of calculation of such rate or rates, if any, including any procedures to vary or reset such rate or rates, and the basis upon which interest will be calculated if other than that of a 360-day year of twelve 30-day months 

2.2.5. the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the
Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Issuer with respect to the Securities of such Series and this Indenture may be served, and the method of such payment,
if by wire transfer, mail or other means if other than as set forth in this Indenture; 
 2.2.6. the date or dates from which
interest on the Securities of the Series shall accrue, the dates on which such interest will be payable or the manner of determination of such dates, and the record date for the determination of Holders to whom interest is payable on any such dates;

 2.2.7. any trustees, authenticating agents or paying agents with respect to the Securities of the Series, if different from
those set forth in this Indenture; 
 2.2.8. the right, if any, to extend the interest payment periods or defer the payment of
interest and the duration of such extension or deferral; 
 2.2.9. if applicable, the period or periods within which, the price
or prices at which and the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the Issuer if other than as set forth in this Indenture; 

2.2.10. the obligation, if any, of the Issuer to redeem, repurchase or repay, if other than as set forth herein, the Securities of the
Series pursuant to any sinking fund or analogous provisions, including payments made in cash in anticipation of future sinking fund obligations, or at the option of a Holder thereof and the period or periods within which, the price or prices at
which and the terms and conditions upon which Securities of the Series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation; 

  
 6 

 2.2.11. the forms of the Securities of the Series including the form of the Trustee’s
certificate of authentication for such Series; 
 2.2.12. if other than denominations of $1,000 or integral multiples of $1,000
in excess thereof, the denominations in which the Securities of the Series shall be issuable; 
 2.2.13. the currency or
currencies in which payment of the principal of, premium, if any, and interest on, the Securities of the Series shall be payable; 
 2.2.14. if the principal amount payable at the Stated Maturity of Securities of the Series will not be determinable as of any one or more dates prior to such Stated Maturity, the amount which will be
deemed to be such principal amount as of any such date for any purpose, including the portion of the principal amount thereof that will be due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2 or upon
any maturity other than the Stated Maturity or that will be deemed to be outstanding as of any such date, or, in any such case, the manner in which such deemed principal amount is to be determined; 

2.2.15. the terms of any repurchase or remarketing rights; 
 2.2.16. if the Securities of the Series shall be issued in whole or in part in the form of a Global Security or Securities, the type of Global Security to be issued; the terms and conditions, if different
from those contained in this Indenture, upon which such Global Security or Securities may be exchanged in whole or in part for other individual Securities in definitive registered form; the Depositary for such Global Security or Securities; and the
form of any legend or legends to be borne by any such Global Security or Securities in addition to or in lieu of the legend referred to in Section 2.13.2; 
 2.2.17. whether the Securities of the Series will be convertible into or exchangeable for other Securities, common shares or other securities of any kind of the Issuer or another obligor, and, if so, the
terms and conditions upon which such Securities will be so convertible or exchangeable, including the initial conversion or exchange price or rate or the method of calculation, how and when the conversion price or exchange ratio may be adjusted,
whether conversion or exchange is mandatory, at the option of the holder or at the Issuer’s option, the conversion or exchange period, and any other provision in addition to or in lieu of those described herein; 

2.2.18. any additional restrictive covenants or Events of Default that will apply to the Securities of the Series, or any changes to the
restrictive covenants set forth in Article IV or the Events of Default set forth in Section 6.1 that will apply to the Securities of the Series, which may consist of establishing different terms or provisions from those set forth in
Article IV or Section 6.1 or eliminating any such restrictive covenant or Event of Default with respect to the Securities of the Series; 
 2.2.19. any provisions granting special rights to Holders when a specified event occurs; 

  
 7 

 2.2.20. if the amount of principal of or any premium or interest on Securities of any Series
may be determined with reference to an index or pursuant to a formula, the manner in which such amounts will be determined; 

2.2.21. any special tax implications of the Securities, including provisions for original issue discount securities, if offered;

 2.2.22. whether and upon what terms Securities of the Series may be defeased if different from the provisions set forth in
this Indenture; 
 2.2.23. with regard to the Securities of any Series that do not bear interest, the dates for certain required
reports to the Trustee; 
 2.2.24. whether the Securities of any Series will be issued as Unrestricted Securities or Restricted
Securities, and, if issued as Restricted Securities, the rule or regulation promulgated under the Securities Act in reliance on which they will be sold; 
 2.2.25. any guarantees, on the Securities of the Series, and the terms and conditions upon which any guarantees, may be released or terminated; 

2.2.26. the provisions, if any, relating to any security provided for the Securities of the Series; 

2.2.27. any Depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities
of such Series if other than those appointed herein; and 
 2.2.28. any and all additional, eliminated or changed terms that
shall apply to the Securities of the Series, including any terms that may be required by or advisable under United States laws or regulations, including the Securities Act and the rules and regulations promulgated thereunder, or advisable in
connection with the marketing of Securities of that Series. 
 All Securities of any one Series need not be issued at the same
time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, Officer’s Certificate or supplemental indenture referred to above. 

Section 2.3. Execution and Authentication. 
 An Officer of the Issuer shall sign the Securities for the Issuer by manual or facsimile signature. 
 If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall nevertheless be valid. 

  
 8 

 A Security shall not be valid until authenticated by the manual signature of the Trustee or
an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 
 The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, Officer’s Certificate or supplemental
indenture, upon receipt by the Trustee of a Company Order. Each Security shall be dated the date of its authentication unless otherwise provided by the relevant Board Resolution, Officer’s Certificate or supplemental indenture. 

Notwithstanding the provisions of Section 2.2 and the preceding paragraph, in the case of Securities offered in a Periodic Offering,
the Trustee shall authenticate and deliver such Securities from time to time in accordance with a Company Order or such other procedures acceptable to the Trustee as may be specified by or pursuant to a supplemental indenture or the written order of
the Issuer delivered to the Trustee prior to the time of the first authentication of Securities of such Series. 
 The aggregate
principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series set forth in the Board Resolution, Officer’s Certificate or supplemental indenture delivered
pursuant to Section 2.2. 
 Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject
to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution, Officer’s Certificate or supplemental indenture establishing the form of the Securities of that Series or of Securities within that Series and the terms
of the Securities of that Series or of Securities within that Series, (b) an Officer’s Certificate complying with Section 10.4, and (c) an Opinion of Counsel complying with Section 10.4. With respect to Securities of a
Series subject to a Periodic Offering, the Trustee conclusively may rely, as to the authorization by the Issuer of any of such Securities, the forms and terms thereof and the legality, validity, binding effect and enforceability thereof, upon the
written order of the Issuer, Opinion of Counsel, Officer’s Certificate and other documents delivered pursuant to this Section 2.3 at or prior to the time of the first authentication of Securities of such Series unless and until such
written order, Opinion of Counsel, Officer’s Certificate or other documents have been superseded or revoked, and written notice thereof is provided to Trustee, or expire by their terms. 

The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series: (a) if the Trustee, being
advised by counsel, determines that such action may not be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a committee of Responsible Officers shall determine that such action
would expose the Trustee to personal liability. 
 The Trustee may appoint an authenticating agent to authenticate Securities.
An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to
deal with the Issuer or an Affiliate of the Issuer. 

  
 9 

 Section 2.4. Registrar, Paying Agent and Transfer Agent. 

The Issuer will maintain one or more paying agents (each, a “Paying Agent”) for the Securities in the Borough of
Manhattan, City of New York. The initial Paying Agent will be the Trustee and thereafter “Paying Agent” shall mean or include each Person who is then a Paying Agent hereunder, and if at any time there is more than one such Person,
“Paying Agent” as used with respect to the Securities of any Series shall mean the Paying Agent with respect to Securities of that Series. The Issuer, upon written notice to the Trustee accompanied by an Officer’s Certificate,
may appoint one or more paying agents, other than the Trustee, for all or any Series of Securities. If the Issuer fails to appoint or maintain another entity as paying agent, the Trustee shall act as such. The Issuer, or any of its Subsidiaries,
upon notice to the Trustee, may act as paying agent. 
 The Issuer will maintain one or more registrars (each, a
“Registrar”) for the Securities in the Borough of Manhattan, City of New York. The initial Registrar will be the Trustee and thereafter “Registrar” shall mean or include each Person who is then a Registrar
hereunder, and if at any time there is more than one such Person, “Registrar” as used with respect to the Securities of any Series shall mean the Registrar with respect to Securities of that Series. The Issuer, upon written notice
to the Trustee accompanied by an Officer’s Certificate, may appoint one or more registrars, other than the Trustee, for all or any Series of Securities. If the Issuer fails to appoint or maintain another entity as registrar, the Trustee shall
act as such. The Issuer, or any of its Subsidiaries, upon notice to the Trustee, may act as registrar. 
 The Issuer will also
maintain a transfer agent (each, a “Transfer Agent”) for the Securities in the Borough of Manhattan, City of New York. The initial Transfer Agent will be the Trustee and thereafter “Transfer Agent” shall mean or
include each Person who is then a Transfer Agent hereunder, and if at any time there is more than one such Person, “Transfer Agent” as used with respect to the Securities of any Series shall mean the Transfer Agent with respect to
Securities of that Series. The Issuer, upon written notice to the Trustee accompanied by an Officer’s Certificate, may appoint one or more transfer agents, other than the Trustee, for all or any Series of Securities. If the Issuer fails to
appoint or maintain another entity as transfer agent, the Trustee shall act as such. The Issuer, or any Subsidiary of the Issuer, upon notice to the Trustee, may act as transfer agent. 

The Issuer may change any Paying Agent, Registrar or Transfer Agent for its Securities without prior notice to the Holders. 

Section 2.5. Paying Agent to Hold Money in Trust. 
 The Issuer shall require each Paying Agent appointed by it other than the Issuer, a Subsidiary of the Issuer, or the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit
of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series of Securities, and will notify the Trustee of any default by the Issuer in making any such
payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the
Trustee, the Paying Agent (if other than the Issuer, or a 

  
 10 

 
Subsidiary of the Issuer) shall have no further liability for the money. If the Issuer or a Subsidiary of the Issuer acts as Paying Agent, it shall segregate and hold in a separate trust fund for
the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent. 
 Section 2.6.
Securityholder Lists. 
 The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Securityholders of each Series of Securities. If the Trustee is not the Registrar, the Issuer shall furnish to the Trustee at least ten days before each interest payment date and at such other times
as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each Series of Securities. 

Section 2.7. Transfer and Exchange. 
 Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities of the same Series, the
Registrar shall register the transfer or make the exchange if the requirements for such transactions set forth in this Indenture are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities at the
Registrar’s request upon the Trustee’s receipt of a Company Order from the Issuer. No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Issuer may require
payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).

 Neither the Issuer nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of
any Series for the period beginning at the opening of business fifteen days immediately preceding the delivery of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day of such
delivery, or (b) to register the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in
part. 
 Section 2.8. Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security is surrendered to the Trustee, the Issuer shall execute a new Security of the same Series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding, and the Trustee shall authenticate and deliver such new Security in exchange for the Security surrendered. 

If there shall be delivered to the Issuer 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 Issuer or the Trustee that such Security has been acquired by a
protected purchaser, the Issuer shall execute, and upon receipt of a Company Order, the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like
tenor and principal amount and bearing a number not contemporaneously outstanding. 

  
 11 

 In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Issuer in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the
issuance of any new Security under this Section 2.8, the Issuer may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and
expenses of the Trustee) connected therewith. 
 Every new Security of any Series issued pursuant to this Section 2.8 in
lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Issuer whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to
all the benefits of this Indenture equally and proportionately with any and all other Securities of that Series duly issued hereunder. 
 The provisions of this Section 2.8 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 2.9. Outstanding Securities. 

The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those
delivered to it for cancellation, those reductions in the interest on a Security, if applicable, effected by the Trustee in accordance with the provisions hereof and those described in this Section 2.9 as not outstanding. 

If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it
that the replaced Security is held by a protected purchaser. 
 If the Paying Agent (other than the Issuer, a Subsidiary of the
Issuer or an Affiliate of the Issuer) holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on
them ceases to accrue. 
 The Issuer may purchase or otherwise acquire the Securities, whether by open market purchases,
negotiated transactions or otherwise. A Security does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the 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 hereunder, the principal
amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity
thereof pursuant to Section 6.2. 

  
 12 

 Section 2.10. Treasury Securities. 

In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand,
authorization, direction, notice, consent or waiver, Securities of a Series owned by the Issuer or any Affiliate of the Issuer shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any
such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee knows are so owned shall be so disregarded. 

Section 2.11. Temporary Securities. 
 Until definitive Securities are ready for delivery, the Issuer may prepare and the Trustee shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be substantially in the
form of definitive Securities but may have variations that the Issuer considers appropriate for temporary Securities. Without unreasonable delay, the Issuer shall prepare and the Trustee upon request shall authenticate definitive Securities of the
same Series and date of maturity in exchange for temporary Securities. Until so exchanged, temporary securities shall have the same rights under this Indenture as the definitive Securities. 

Section 2.12. Cancellation. 
 The Issuer at any time may deliver Securities to the Trustee for cancellation. The Agents shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment.
The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled Securities (subject to the record retention requirement of the Exchange Act) and deliver a certificate
of such destruction to the Issuer upon written request. The Issuer may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation. 

Section 2.13. Global Securities. 
 2.13.1. Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.7 of this Indenture and in addition thereto, any Global Security shall be exchangeable
pursuant to Section 2.7 of this Indenture for Securities registered in the names of Holders other than the Depositary for such Security or its nominee only if (i) such Depositary notifies the Issuer that it is unwilling or unable to
continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Issuer fails to appoint a successor Depositary registered as a clearing
agency under the Exchange Act within 90 days of such event or (ii) the Issuer executes and delivers to the Trustee an Officer’s Certificate to the effect that such Global Security shall be so exchangeable. Any Global Security that is
exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like
tenor and terms. 
 Except as provided in this Section 2.13.1, a Global Security may not be transferred except as a whole
by the Depositary with respect to such Global Security to a 

  
 13 

 
nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee to a successor Depositary or a
nominee of such a successor Depositary. 
 Neither the Trustee nor any Agent shall have any obligation or duty to monitor,
determine or inquire as to compliance with any tax or securities laws with respect to any restrictions on transfer imposed under this Indenture or under applicable law (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. 
 2.13.2. Legend.
Any Global Security issued hereunder shall bear a legend in substantially the following form: 
 “THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE 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 MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY.” 
 2.13.3. Acts of Holders. The Depositary, as a Holder, may appoint agents and otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver
or other action which a Holder is entitled to give or take under this Indenture. 
 2.13.4. Payments. Notwithstanding the
other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.2, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof, which in the case of a Depositary
therefore will be made in accordance with its applicable procedures. 
 2.13.5. Holders. The Issuer, the Trustee and each
Agent shall treat the Person in whose name any Security is registered in the register maintained by the Registrar as the Holder for all purposes including for purposes of obtaining any consents, declarations, waivers or directions permitted or
required to be given by the Holders pursuant to this Indenture. 
 2.13.6. No Obligation of the Trustee. Neither the
Trustee nor any Agent shall have any responsibility or obligation to any beneficial owner of an interest in a Global Security, a member of, or a participant in, the Depositary or other Person with respect to the accuracy of the records of the
Depositary or its nominee or of any participant or member thereof, with 

  
 14 

 
respect to any ownership interest in the Securities or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depositary) of any notice
(including any notice of redemption) or the payment of any amount or delivery of any Securities (or other security or property) under or with respect to such Securities. All notices and communications to be given to the Holders and all payments to
be made to Holders with respect to the Securities shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or its nominee in the case of a Global Security). The rights of beneficial owners in any
Global Security shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary. The Trustee and each Agent may rely and shall be fully protected in relying upon information furnished by the Depositary
with respect to its members, participants and any beneficial owners. 
 Section 2.14. CUSIP Numbers. 

The Issuer in issuing the Securities may use “CUSIP”, “ISIN” and or “Common Code” numbers (if then
generally in use), and, if so, the Trustee shall use “CUSIP”, “ISIN” and or “Common Code” 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 elements of identification printed on the Securities,
and any such redemption shall not be affected by any defect in or omission of such numbers. 
 ARTICLE III. 

REDEMPTION 

Section 3.1. Notice to Trustee; No Liability for Calculations. 

The Issuer may, with respect to any Series of Securities, reserve the right to redeem and pay such Series of Securities or may covenant
to redeem and pay such Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in Sections 3.2 and 3.3 hereof or, as applicable, in the Board Resolution, Officer’s Certificate
or supplemental indenture relating to such Series. If a Series of Securities is redeemable and the Issuer wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such
Securities, it shall notify the Trustee in writing of the redemption date and the principal amount of Series of Securities to be redeemed at least 40 days before a redemption date (or such shorter notice as may be acceptable to the Trustee). The
Trustee shall have no liability with respect to or obligation to calculate the redemption price of any Securities to be redeemed pursuant to this Indenture. 
 Section 3.2. Selection of Securities to be Redeemed. 
 Unless
otherwise indicated for a particular Series by a Board Resolution, Officer’s Certificate or a supplemental indenture, if less than all of the Securities of a Series are to be redeemed at any time, the Trustee will select the Securities of a
Series to be redeemed on a pro rata basis (or, in the case of Securities issued in global form based on a method that most nearly approximates a pro rata selection as the Trustee deems fair and appropriate) unless otherwise required by
law or applicable stock exchange or Depositary requirements. The Trustee will not be liable for selections made by it as contemplated in this section. 

  
 15 

 No Securities of a Series in principal amount of $1,000 or less can be redeemed in part.

 Notices of purchase or redemption will be given to each Holder pursuant to Section 3.3 and Section 10.1.

 Section 3.3. Notice of Redemption. 
 Unless otherwise indicated for a particular Series by Board Resolution, Officer’s Certificate or supplemental indenture, at least 10 days but not more than 60 days before a redemption date, the
Issuer will deliver a notice of redemption to each Holder whose Securities are to be redeemed in accordance with Section 10.1, except that redemption notices may be given more than 60 days prior to a redemption date if the notice is issued in
connection with a defeasance of the Securities or a satisfaction and discharge of this Indenture pursuant to Article VIII hereof. 
 The notice shall identify the Securities to be redeemed and corresponding CUSIP, ISIN or Common Code numbers, as applicable, and will state: 

(a) the redemption date; 
 (b) the redemption price and the amount of accrued interest, if any, to be paid; 
 (c) if any Global Security is being redeemed in part, the portion of the principal amount of such Global Security to be redeemed and that, after the redemption date upon surrender of such Global Security,
the principal amount thereof will be decreased by the portion thereof redeemed pursuant thereto; 
 (d) if any
Certificated Security is being redeemed in part, the portion of the principal amount of such Security to be redeemed, and that, after the redemption date, upon surrender of such Security, a new Certificated Security or Certificated Securities in
principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Certificated Security; 

(e) the name and address of the Paying Agent(s) to which the Securities are to be surrendered for redemption; 

(f) that Securities called for redemption must be surrendered to the relevant Paying Agent to collect the redemption
price, plus accrued and unpaid interest, if any; 
 (g) that, unless the Issuer defaults in making such
redemption payment, interest on Securities called for redemption cease to accrue on and after the redemption date; 

  
 16 

 (h) that Securities of the Series called for redemption must be surrendered
to the Paying Agent to collect the redemption price; 
 (i) the paragraph of the Securities and/or Section of
this Indenture pursuant to which the Securities called for redemption are being redeemed; and 
 (j) that no
representation is made as to the correctness or accuracy of the CUSIP, ISIN or Common Code numbers, if any, listed in such notice or printed on the Securities. 
 At the Issuer’s written request, the Trustee shall give the notice of redemption in the Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the
Trustee, at least 40 days prior to the redemption date (or such shorter period of time as the Trustee may permit), an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such
notice as provided in the preceding paragraph. 
 Section 3.4. Effect of Notice of Redemption. 

Once notice of redemption is mailed or published as provided in Section 3.3, Securities of a Series called for redemption become due
and payable on the redemption date and at the redemption price. Unless otherwise indicated for a particular Series by Board Resolution, Officer’s Certificate or supplemental indenture, a notice of redemption may not be conditional. Upon
surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date. 
 On or after any purchase or redemption date, unless the Issuer defaults in payment of the purchase or redemption price, interest shall cease to accrue on Securities or portions thereof tendered for
purchase or called for redemption. 
 Section 3.5. Deposit of Redemption Price. 

On or before 10:00 a.m., New York City time, on the redemption date, the Issuer shall deposit with the Paying Agent money in immediately
available funds sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date. 
 Section 3.6. Securities Redeemed in Part. 
 Upon surrender of a
Certificated Security that is redeemed in part, the Trustee shall authenticate for the Holder a new Certificated Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered.

 In relation to Certificated Securities, a new Security in principal amount equal to the unpurchased or unredeemed portion of
any Security purchased or redeemed in part will be issued in the name of the Holder thereof upon cancellation of the original Certificated Security. 

  
 17 

 Section 3.7. Sinking Fund. 

Unless otherwise indicated for a particular Series by Board Resolution, Officer’s Certificate or supplemental indenture, the
provisions of Sections 3.7, 3.8 and 3.9 shall be applicable to any sinking fund for the retirement of Securities of a Series. 

The minimum amount of any sinking fund payment provided for by the terms of Securities of any Series is 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 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 3.8. Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of Securities of
such Series. 
 Section 3.8. Satisfaction of Sinking Fund Payments with Securities. 

The Issuer (i) may deliver outstanding Securities of a Series other than any Securities previously called for redemption and
(ii) may apply as a credit Securities of a Series that have been redeemed either at the election of the Issuer 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 the Securities of such Series required to be made pursuant to 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 3.9. Redemption of Securities for Sinking Fund. 

Not less than 10 days prior to each sinking fund payment date for any Series of Securities, the Issuer will deliver to the Trustee an
Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that Series pursuant to the terms of the Series, the portion thereof, if any, that is to be satisfied by payment of cash in the currency in which the
Securities of such Series are denominated (except as provided pursuant to Section 2.2), the portion thereof, if any, that is to be satisfied by delivering and crediting Securities of that Series pursuant to Section 3.8 and the basis for
such credit. Together with such Officer’s Certificate, the Issuer will deliver to the Trustee any Securities to be so delivered. Not less than 10 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 3.2 and cause notice of the redemption thereof to be given in the name of and at the expense of the Issuer in the manner provided in Section 3.3. 

  
 18 

 ARTICLE IV. 
 COVENANTS 
 Section 4.1. Payment of Principal, Premium and Interest.

 The Issuer covenants and agrees for the benefit of the Holders of each Series of Securities that it will duly and punctually
pay the principal of, premium, if any, and interest, on the Securities of that Series in accordance with the terms of such Securities and this Indenture. Unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental
indenture for a particular Series, on or before 10:00 a.m., New York City time, on the applicable payment date, the Issuer shall deposit with the Paying Agent money sufficient to pay the principal of, premium, if any, and interest on the Securities
of each such Series in accordance with the terms of such Securities and this Indenture. 
 Section 4.2. Compliance
Certificate. 
 The Issuer shall deliver to the Trustee, within 120 days after the end of the fiscal year of the Issuer
(which as of the date of this Indenture is December 31, or if the fiscal year with respect to the Issuer, is changed, such other fiscal year end date as the Issuer, shall notify to the Trustee in writing), an Officer’s Certificate stating
that a review of the activities of the Issuer and the Subsidiaries of the Issuer during the preceding fiscal year has been made under the supervision of the signing Officer with a view to determining whether the Issuer has kept, observed, performed
and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to his/her knowledge the Issuer is not in default in the performance or observance of any of the terms, provisions and
conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he may have knowledge). Such Officer’s Certificate need not include a reference to any non-compliance that
has been fully cured prior to the date as of which such certificate speaks. 
 The Issuer will, so long as any of the Securities
are outstanding, deliver to the Trustee, within 30 days upon becoming aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what action the Issuer is taking or proposes to take with
respect thereto. 
 Section 4.3. Stay, Extension and Usury Laws. 

The Issuer covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture or the Securities; and the Issuer (to
the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, 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 such law has been enacted. 

  
 19 

 Section 4.4. Corporate Existence. 

Subject to Article V, the Issuer will do or cause to be done all things necessary to preserve and keep in full force and effect its
corporate existence and rights (charter and statutory); provided, however, that the Issuer shall not be required to preserve any such right if its Board of Directors shall determine that the preservation thereof is no longer desirable
in the conduct of its business and its Subsidiaries taken as a whole and that the loss thereof is not adverse in any material respect to the Holders of the Securities. 
 Section 4.5. Reports. 
 (a) So long as any Securities
are outstanding, the Issuer shall file with the Trustee, within 15 days after the Issuer files with the SEC, 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
SEC may from time to time by rules and regulations prescribe) that the Issuer may be required to file with the SEC pursuant to Section 13 or Section 15(d) of the Exchange Act. The Issuer shall be deemed to have complied with the previous
sentence to the extent that such information, documents and reports are filed with the SEC via EDGAR (or any successor electronic delivery procedure). 
 (b) Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information
contained therein or determinable from information contained therein, including the Issuer’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

ARTICLE V. 

SUCCESSORS 

Section 5.1. Consolidation, Merger and Sale of Assets. 

The Issuer may not, directly or indirectly: (x) consolidate or merge with or into or wind up into another Person (whether or not the
Issuer is the surviving Person); or (y) sell, assign, transfer, convey or otherwise dispose of all or substantially all of its properties or assets, in one or more related transactions, to another Person; unless: 

(a) either: (i) the Issuer is the surviving Person; or (ii) the Person formed by or surviving any such
consolidation or merger (if other than the Issuer) or to which such sale, assignment, transfer, conveyance or other disposition has been made is a corporation, limited liability company or limited partnership organized or existing under the laws of
the jurisdiction of organization of the Issuer or the United States, any state of the United States, the District of Columbia or any territory thereof (the Issuer or such Person, as the case may be, hereinafter referred to as the “Successor
Company”); 
 (b) the Successor Company (if other than the Issuer) expressly assumes all the obligations
of the Issuer under the Securities and the Indenture; 

  
 20 

 (c) immediately after such transaction no Default or Event of Default
exists; 
 (d) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel, each stating that such consolidation, merger or transfer and such amendment or supplement (if any) comply with the Indenture. 
 The Successor Company shall succeed to, and be substituted for, the Issuer under this Indenture and the Securities. 
 ARTICLE VI. 
 DEFAULTS AND REMEDIES 

Section 6.1. Events of Default. 
 The following are “Events of Default” with respect to the Securities of any Series, unless in the establishing Board Resolution, Officer’s Certificate or supplemental indenture, it
is provided that such Series shall not have the benefit of said Event of Default: 
 (a) the Issuer defaults in
payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or premium, if any, on the Notes; 
 (b) the Issuer defaults in the payment when due of interest on or with respect to the Notes and such default continues for a period of 30 days; 

(c) the Issuer defaults in the performance of, or breaches any covenant, warranty or other agreement contained in this
Indenture (other than a default in the performance or breach of a covenant, warranty or agreement which is specifically dealt with in clauses (a) or (b) above) and such default or breach continues for a period of 90 days after the notice
specified below; 
 (d) the Issuer pursuant to or within the meaning of any Bankruptcy Law: 

(1) commences a voluntary case, 
 (2) consents to the entry of an order for relief against it in an involuntary case, 
 (3) consents to the appointment of a Custodian of it or for all or substantially all of its property, 
 (4) makes a general assignment for the benefit of its creditors, or 

(5) generally is unable to pay its debts as the same become due; or 

(e) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(1) is for relief against the Issuer in an involuntary case, 

  
 21 

 (2) appoints a Custodian of the Issuer for all or substantially all of its
property, or 
 (3) orders the liquidation of the Issuer, 

and the order or decree remains unstayed and in effect for 60 days; or 

(f) any other Event of Default provided in the supplemental indenture or Board Resolution under which such Series of
Securities is issued or in the form of Security for such Series. 
 The term “Bankruptcy Law” means title 11,
U.S. Code or any similar Federal or State law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

A Default under one Series of Securities issued under this Indenture will not necessarily be a default under another Series of Securities
under this Indenture. 
 Section 6.2. Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default for a Series of Securities occurs and is continuing (other than an Event of Default referred to in
Section 6.1(d) or (e)), the Trustee or the Holders of at least 25% in principal amount of such Series of Securities may declare the unpaid principal of all such Securities to be due and payable by notice in writing to the Issuer and the Trustee
specifying the respective Event of Default and that it is a “notice of acceleration” (the “Acceleration Notice”), and the same shall become immediately due and payable. If an Event of Default referred to in Section 6.1(d) or
(e) occurs, the principal amount plus accrued and unpaid interest on such Series of Securities will become immediately due and payable without any action on the part of the Trustee or any Holder. 

At any time after such a declaration of acceleration with respect to any Series has been made and before a judgment or decree for payment
of the money due has been obtained by the Trustee as hereinafter in this Article VI provided, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written notice to the Issuer and the Trustee, may rescind
and annul such declaration and its consequences if all Events of Default with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series which have become due solely by such
declaration of acceleration, have been cured or waived as provided in Section 6.13. 
 No such rescission shall affect any
subsequent Default or impair any right consequent thereon. 
 Section 6.3. Collection of Indebtedness and Suits for
Enforcement by Trustee. 
 The Issuer covenants that if 

(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such
default continues for a period of 30 days, or 

  
 22 

 (b) default is made in the payment of principal of any Security at the
Maturity thereof, or 
 (c) default is made in the deposit of any sinking fund payment when and as due by the
terms of a Security, 
 then, the Issuer will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities,
the whole amount then due and payable on such Securities for principal and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any overdue interest at the rate or rates
prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel. 
 If the Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and
as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Issuer or any other obligor upon
such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law out of the property of the Issuer or any other obligor upon such Securities, wherever situated. 

If an Event of Default with respect to any Securities of any Series occurs and is continuing, the Trustee may in its discretion proceed
to protect and enforce its rights and the rights of the Holders of Securities of such Series by such appropriate judicial proceedings as 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 6.4. Trustee May File Proofs of Claim. 
 In case of the
pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Issuer or any other obligor upon the Securities or the property of the Issuer or of
such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any
demand on the Issuer for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, 
 (a) to file and prove a claim for the whole amount of principal and interest owing and unpaid with respect to the Securities and to file such other papers or documents as may be necessary or advisable in
order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

(b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the
same, 

  
 23 

 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any
such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for
the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.6. 
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote with respect to the claim of any Holder in any such proceeding. 
 Section 6.5. Trustee May Enforce Claims Without Possession of Securities. 
 All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any
proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities with respect to which such judgment has been recovered. 

Section 6.6. Application of Money Collected. 
 Any money collected by the Trustee pursuant to this Article VI shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account
of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 
 First: To the payment of all amounts due the Trustee under Section 7.6; 

Second: To the payment of the amounts then due and unpaid for principal of, premium, if any, and interest on the Securities with respect
to which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and interest, respectively; and 

Third: To the Issuer. 
 Section 6.7. Limitation on Suits. 
 A Holder of Securities of any
Series may pursue any remedy under this Indenture applicable to such Securities only if: 
 (a) the Holder gives
the Trustee written notice of a continuing Event of Default for such Series of Securities; 

  
 24 

 (b) the Holders of at least 25% in principal amount of such outstanding
Series of Securities make a written request to the Trustee to pursue the remedy; 
 (c) the Holders furnish to
the Trustee indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request; 

(d) the Trustee fails to act for a period of 60 days after receipt of notice and furnishing of indemnity; and 

(e) during that 60-day period, the Holders of a majority in principal amount of such Securities do not give the Trustee a
direction inconsistent with the request. 
 This provision does not, however, affect the right of a Holder of Securities to sue
for enforcement of any overdue payment with respect to such Securities. 
 Section 6.8. Unconditional Right of Holders
to Receive Principal and Interest. 
 Notwithstanding any other provision in this Indenture, the Holder of any Security
shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Security on the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the
redemption date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
 Section 6.9. Restoration of Rights and Remedies. 
 If the Trustee or
any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every
such case, subject to any determination in such proceeding, the Issuer, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the
Holders shall continue as though no such proceeding had been instituted. 
 Section 6.10. Rights and Remedies
Cumulative. 
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or
stolen Securities in Section 2.8, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law,
be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent
permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy. 

  
 25 

 Section 6.11. Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article VI or by law to the Trustee or to the Holders 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. 
 Section 6.12. Control by
Holders. 
 The Holders of a majority in principal amount of the outstanding Securities of any Series shall have the right
to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Series, provided that 

(a) such direction shall not be in conflict with any rule of law or with this Indenture, 

(b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and

 (c) the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith
shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability or that it will not be adequately indemnified against the costs, expenses and liabilities which might be
incurred by it in complying with such direction. 
 Section 6.13. Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the outstanding Securities of any Series may on behalf of the Holders of
all the Securities of such Series waive an existing Default or Event of Default hereunder with respect to such Series and its consequences, except a Default in the payment of the principal of or interest on any Security of such Series
(provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any related payment default that resulted from such
acceleration). Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other
Default or impair any right consequent thereon. 
 Section 6.14. Undertaking for Costs. 

All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any
court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such
suit of an undertaking to pay the costs of such suit, and that such court may in its 

  
 26 

 
discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses
made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Issuer to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than
10% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the Stated Maturity or Stated Maturities
expressed in such Security (or, in the case of redemption, on the redemption date). 
 ARTICLE VII. 

TRUSTEE 

Section 7.1. Duties of Trustee. 
 (a) If an Event of Default 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 such
exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 

(b) Except during the continuance of an Event of Default with respect to the Securities of any Series: 

 

	 	(1)	the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, 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. However, the Trustee shall examine such certificates and opinions to determine whether, on their face, they appear to conform to the
requirements of this Indenture. 

 (c) The Trustee may not be relieved from liabilities for its own
grossly negligent action, its own grossly negligent failure to act or its own willful misconduct, except that: 
  

	 	(1)	this paragraph does not limit the effect of paragraph (b) of this Section 7.1; and 

 

	 	(2)	the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was grossly negligent in
ascertaining the pertinent facts. 

  
 27 

 (d) Whether or not therein expressly so provided, every provision of this
Indenture that in any way relates to the Trustee is subject to the provisions of this Article VII. 
 (e) No
provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The Trustee may refuse to perform any duty or exercise any right or power unless it receives indemnity reasonably satisfactory to it
against any loss, liability or expense. 
 (f) The Trustee shall not be liable for interest on or investment of
any money received by it except as the Trustee may agree in writing with the Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. All money received by the Trustee shall, until
applied as herein provided, be held in trust for the payment of the principal of and premium (if any) and interest on the Securities. 
 Section 7.2. Rights of Trustee. 
 (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, note, debenture or other paper or document
believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, security or other paper or document. 
 (b) Before the Trustee acts or refrains from
acting, it may require instruction, an Officer’s Certificate or an Opinion of Counsel or both to be provided by the Issuer. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such instruction,
Officer’s Certificate or Opinion of Counsel. The Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection with respect to any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon. 
 (c) The Trustee may act through
agents, attorneys, custodians or nominees and shall not be responsible for the misconduct or negligence of any agent, attorney, custodian or nominee appointed with due care. 

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be
authorized or within its rights or powers conferred upon it by this Indenture or with respect to any action it takes or omits to take in good faith in accordance with a direction received by it from the Holders of a majority in aggregate principal
amount of the relevant Series of Securities. 
 (e) Unless otherwise specifically provided in this Indenture, any
demand, request, direction or notice from the Issuer shall be sufficient if signed by an Officer of the Issuer. 

  
 28 

 (f) Anything in this Indenture to the contrary notwithstanding, in no event
shall the Trustee be liable under or in connection with this Indenture for indirect, special, incidental, punitive or consequential losses or damages of any kind whatsoever, including but not limited to lost profits, whether or not foreseeable, even
if the Trustee has been advised of the possibility thereof and regardless of the form of action in which such damages are sought. 
 (g) The Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Indenture at the request, order or direction of any of the Holders of Securities pursuant to the
provisions of this Indenture, unless such Holders of Securities shall have offered to the Trustee, security or indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred therein or thereby.

 (h) The Trustee shall not be deemed to have notice of any Event of Default with respect to the Securities
unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by a Responsible Officer at the Corporate Trust Office of the Trustee, and such notice
references the Securities and this Indenture. 
 (i) The Trustee may at any time request, and the Issuer shall
deliver an Officer’s Certificate setting forth the specimen signatures and the names of individuals and/or titles of Officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be
signed by any Person authorized to sign an Officer’s Certificate, including any Person specified as so authorized in any such certificate previously delivered and not superseded. 

(j) Notwithstanding any provision herein to the contrary, in no event shall the Trustee be liable for any failure or delay
in the performance of its obligations under this Indenture because of circumstances beyond its control, including, but not limited to, acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot, strikes or work stoppages for any
reason, embargo, government action, including any laws, ordinances, regulations or the like which restrict or prohibit the providing of the services contemplated by this Indenture, inability to obtain material, equipment, or communications or
computer facilities, or the failure of equipment or interruption of communications or computer facilities, and other causes beyond its control whether or not of the same class or kind as specifically named above. 

(k) The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, each Agent, and each other agent, custodian and other Person employed to act hereunder. 

Section 7.3. May Hold Securities. 
 The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Issuer or any of its Affiliates with the same rights it would have if it
were not Trustee. Any Agent may do the same with like rights and duties. However, the Trustee is subject to Sections 7.9 and 7.10. 

  
 29 

 Section 7.4. Trustee’s Disclaimer. 

The Trustee makes no representation as to the validity, sufficiency or adequacy of any offering materials, this Indenture or the
Securities, it shall not be accountable for the Issuer’s use of the proceeds from the Securities or any money paid to the Issuer or upon the Issuer’s direction under any provision hereof, it shall not be responsible for any statement or
recital herein or any statement in any offering materials or the Securities other than its certificate of authentication. 

Section 7.5. Notice of Defaults. 
 If a Default or Event of Default with respect to the Securities of any Series occurs and is continuing and it is actually known to the Trustee, the Trustee shall mail to Holders of Securities of such
Series a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of and premium (if any) and interest on any sinking fund installment with respect to the
Securities of such Series, the Trustee may withhold the notice if and so long as a Responsible Officer in good faith determines that withholding the notice is in the interests of Holders of Securities of such Series to do so. 

Section 7.6. Compensation and Indemnity. 
 The Issuer agrees to pay to the Trustee for its acceptance of this Indenture and services hereunder such compensation as the Issuer and the Trustee shall from time to time agree in writing. The
Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer agrees to reimburse the Trustee upon request for all reasonable disbursements, advances and expenses incurred by it. Such
expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 
 The
Issuer shall indemnify the Trustee from, and hold it harmless against any damage, cost, claim, loss, liability or expense (including the reasonable fees and expenses of the Trustee’s agents and counsel) incurred by it arising out of or in
connection with its acceptance and administration of the trusts set forth under this Indenture, the performance of its obligations and/or the exercise of its rights hereunder, including the reasonable costs and expenses of defending itself against
any claim, except as set forth in the next following paragraph. The Trustee shall notify the Issuer promptly of any claim for which it may seek indemnity. The Issuer shall defend the claim, with counsel reasonably acceptable to the Trustee, and the
Trustee shall cooperate in the defense, unless, the Trustee, in its reasonable discretion, determines that any actual or potential conflict of interest may exist, in which case the Trustee may have separate counsel, reasonably acceptable to the
Issuer and the Issuer shall pay the reasonable fees and expenses of such counsel. The Issuer need not pay for any settlement made without its consent. 
 The Issuer shall not be obligated to reimburse any expense or indemnify against any loss or liability incurred by the Trustee through the Trustee’s own gross negligence or bad faith. 

  
 30 

 To secure the payment obligations of the Issuer in this Section 7.6, the Trustee shall
have a lien prior to the Securities on all money or property held or collected by the Trustee, except that held in trust to pay principal of and premium (if any) and interest on Securities of any Series. Such lien and the obligations of the Issuer
under this Section 7.6 shall survive the satisfaction and discharge of this Indenture, the payment of the Securities and/or the resignation or removal of the Trustee. 
 When the Trustee incurs expenses or renders services in connection with an Event of Default, the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the
services are intended to constitute expenses of administration under any applicable Federal or State bankruptcy, insolvency or other similar law. 
 Section 7.7. Replacement of Trustee. 
 A resignation or removal of the
Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.7. 
 The Trustee may resign and be discharged at any time with respect to the Securities of one or more Series by so notifying the Issuer. The Holders of a majority in principal amount of the then outstanding
Securities of any Series may remove the Trustee with respect to the Securities of such Series by so notifying the Trustee and the Issuer. The Issuer may remove the Trustee for any or all Series of the Securities if: 

(a) the Trustee fails to comply with Section 7.9; 

(b) the Trustee is adjudged as bankrupt or an insolvent or an order for relief is entered with respect to the Trustee
under any Bankruptcy Law; 
 (c) a Custodian or public officer takes charge of the Trustee or its property; or

 (d) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, with respect to the Securities of
one or more Series, the Issuer 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). Within one year after the successor Trustee with respect to the Securities of any Series takes office, the Holders of a majority in principal amount of the Securities of such Series then outstanding may appoint a
successor Trustee to replace the successor Trustee appointed by the Issuer. 
 If a successor Trustee with respect to the
Securities of any Series does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in principal amount of the then outstanding Securities of such Series may
petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such Series. 

  
 31 

 If the Trustee with respect to the Securities of a Series fails to comply with
Section 7.9, any Holder of Securities of such Series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to the Securities of such Series. 

In case of the appointment of a successor Trustee with respect to all Securities, each such successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the retiring
Trustee under this Indenture. The successor Trustee shall give a notice of its succession to Holders in accordance with Section 10.1. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee,
subject to the lien provided for in Section 7.6. 
 In case of the appointment of a successor Trustee with respect to the
Securities of one or more Series, the Issuer, 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 in which each successor Trustee shall
accept such appointment and that (1) shall confer to each successor Trustee all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those Series to which the appointment of such successor Trustee
relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall confirm that all the rights, powers 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. Nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, and each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts
hereunder administered by any other such Trustee. 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 shall have all the rights, powers 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. On request of the Issuer, or any successor Trustee, such
retiring Trustee shall transfer to such successor Trustee all property held by such retiring Trustee as Trustee with respect to the Securities of that or those Series to which the appointment of such successor Trustee relates. Such retiring Trustee
shall, however, have the right to deduct its unpaid fees and expenses, including attorneys’ fees. 
 Notwithstanding
replacement of the Trustee or Trustees pursuant to this Section 7.7, the obligations of the Issuer under Section 7.6 shall continue for the benefit of the retiring Trustee or Trustees. 

Section 7.8. Successor Trustee by Merger, etc. 
 Subject to Section 7.9, if the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business (including this transaction) to, another
corporation, the successor corporation without any further act shall be the successor Trustee. 

  
 32 

 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; and in case at that time any of the Securities shall not have been
authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it
is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 
 Section 7.9.
Eligibility; Disqualification. 
 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, any State thereof or the District of Columbia and authorized under such laws to exercise corporate trust power, shall be subject to supervision or examination by Federal or State (or the
District of Columbia) authority and shall have, or be a subsidiary of a bank or bank holding company having, a combined capital and surplus of at least $50 million as set forth in its most recent published annual report of condition. 

Section 7.10. Preferential Collection of Claims Against Issuer. 

The Trustee is subject to and shall comply with the provisions of the Trust Indenture Act of 1939, as amended (the
“TIA”) § 311(a), as if such section applied hereto, excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a), as if such section applied
hereto, to the extent indicated therein. 
 ARTICLE VIII. 
 DISCHARGE OF INDENTURE 
 Section 8.1. Termination of Issuer’s
Obligations. 
 (a) This Indenture shall cease to be of further effect with respect to the Securities of a Series (except
that all obligations of the Issuer under Section 7.6, the Trustee’s and Paying Agent’s obligations under Section 8.3 and the rights, powers, protections and privileges accorded the Trustee under Article VII shall survive), and
the Trustee, on written demand of the Issuer shall execute instruments acknowledging the satisfaction and discharge of this Indenture with respect to the Securities of such Series, when: 

(1) either 
 (A) all outstanding Securities of such Series theretofore authenticated and issued (other than destroyed, lost or stolen Securities that have been replaced or paid) have been delivered to the Trustee for
cancellation; or 
 (B) all outstanding Securities of such Series not theretofore delivered to the Trustee for cancellation:

 (i) have become due and payable, or 

  
 33 

 (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 Issuer, 
 and, in the case of clause (i), (ii) or
(iii) above, the Issuer has irrevocably deposited or caused to be deposited with the Trustee as funds (immediately available to the Holders in the case of clause (i)) in trust for such purpose (x) cash in an amount, or (y) Government
Obligations, maturing as to principal and interest at such times and in such amounts as will ensure the availability of cash in an amount or (z) a combination thereof which will be sufficient, in the opinion (in the case of (y) or (z)) of
a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge the entire indebtedness on the Securities of such Series for principal and interest to the
date of such deposit (in the case of Securities which have become due and payable) or for principal, premium, if any, and interest to the Stated Maturity or redemption date, as the case may be; or 

(C) the Issuer has properly fulfilled such other means of satisfaction and discharge applicable to the Securities of such Series;

 (2) the Issuer has paid or caused to be paid all other sums payable by it hereunder with respect to the
Securities of such Series; and 
 (3) the Issuer has delivered to the Trustee an Officer’s Certificate
stating that all conditions precedent to satisfaction and discharge of this Indenture with respect to the Securities of such Series have been complied with, together with an Opinion of Counsel to the same effect. 

(b) Unless this Section 8.1(b) is specified as not being applicable to Securities of a Series as contemplated by Section 2.2,
the Issuer may terminate certain of its obligations under this Indenture (“covenant defeasance”) with respect to the Securities of a Series if: 
 (1) either the Issuer has irrevocably deposited or caused to be irrevocably deposited with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as
security for and dedicated solely to the benefit of the Holders of Securities of such Series, (i) money, or (ii) Government Obligations with respect to such Series, maturing as to principal and interest at such times and in such amounts as
will ensure the availability of money in the currency in which payment of the Securities of such Series is to be made in an amount or (iii) a combination thereof, that is sufficient, in the opinion (in the case of (ii) and (iii)) of a
nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to 

  
 34 

 
pay the principal of and premium (if any) and interest on all Securities of such Series on each date that such principal, premium (if any) or interest is due and payable and (at the Stated
Maturity thereof or upon redemption as provided in Section 8.1(e)) to pay all other sums payable by it hereunder; provided that the Trustee shall have been irrevocably instructed to apply such money and/or the proceeds of such Government
Obligations to the payment of said principal, premium (if any) and interest with respect to the Securities of such Series as the same shall become due; 
 (2) the Issuer has delivered to the Trustee an Officer’s Certificate stating that all conditions precedent to satisfaction and discharge of this Indenture with respect to the Securities of such
Series have been complied with, and an Opinion of Counsel to the same effect; 
 (3) no Default or Event of
Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit and the grant of
any lien securing such borrowings); 
 (4) the Issuer shall have delivered to the Trustee an Opinion of Counsel
from a nationally recognized counsel acceptable to the Trustee or a tax ruling to the effect that the Holders will not recognize income, gain or loss for Federal income tax purposes as a result of the Issuer’s exercise of its option under this
Section 8.1(b) and will be subject to 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 option had not been exercised; and 

(5) the Issuer has complied with any additional conditions specified pursuant to Section 2.2 to be applicable to the
discharge of Securities of such Series pursuant to this Section 8.1. 
 In such event, this Indenture shall cease to be of
further effect (except as set forth in this paragraph), and the Trustee, on written demand of the Issuer, shall execute instruments acknowledging satisfaction and discharge under this Indenture. However, the Issuer’s obligations in Sections
2.4, 2.5, 2.6, 2.7, 2.8, 2.9, 7.6, 7.7 and this Article VIII, the Trustee’s and Paying Agent’s obligations in Section 8.3 and the rights, powers, protections and privileges accorded the Trustee under Article VII shall survive until
all Securities of such Series are no longer outstanding. Thereafter, only the obligations of the Issuer in Section 7.6 and the Trustee’s and Paying Agent’s obligations in Section 8.3 shall survive with respect to Securities of
such Series. 
 In order to have money available on a payment date to pay principal of or premium (if any) or interest on the
Securities, the Government Obligations shall be payable as to principal or interest on or before such payment date in such amounts as will provide the necessary money. Government Obligations shall not be callable at the Issuer’s option.

  
 35 

 (c) If the Issuer has previously complied or is concurrently complying with the conditions
set forth in Section 8.1(b) (other than any additional conditions specified pursuant to Section 2.2 that are expressly applicable only to covenant defeasance) with respect to Securities of a Series, then unless this Section 8.1(c) is
specified as not being applicable to Securities of such Series as contemplated by Section 2.2, the Issuer may elect to be discharged (“legal defeasance”) from its obligations to make payments with respect to Securities of such
Series, if: 
 (1) unless otherwise specified with respect to Securities of such Series as contemplated by
Section 2.2, the Issuer has delivered to the Trustee an Opinion of Counsel from a nationally recognized counsel acceptable to the Trustee to the effect referred to in Section 8.1(b)(4) with respect to such legal defeasance, which opinion
is based on (i) a private ruling of the Internal Revenue Service addressed to the Issuer, (ii) a published ruling of the Internal Revenue Service or (iii) a change in the applicable federal income tax law (including regulations) after
the date of this Indenture; the Issuer has complied with any other conditions specified pursuant to Section 2.2 to be applicable to the legal defeasance of Securities of such Series pursuant to this Section 8.1(c); and 

(2) the Issuer has delivered to the Trustee a Company Request requesting such legal defeasance of the Securities of such
Series and an Officer’s Certificate stating that all conditions precedent with respect to such legal defeasance of the Securities of such Series have been complied with, together with an Opinion of Counsel to the same effect. 

In such event, the Issuer will be discharged from its obligations under this Indenture and the Securities of such Series to pay principal
of and premium (if any) and interest on Securities of such Series, the Issuer’s obligations under Sections 4.1 and 5.1 shall terminate with respect to such Securities, and the entire indebtedness of the Issuer evidenced by such Securities shall
be deemed paid and discharged. 
 (d) If and to the extent additional or alternative means of satisfaction, discharge or
defeasance of Securities of a Series are specified to be applicable to such Series as contemplated by Section 2.2, the Issuer may terminate any or all of its obligations under this Indenture with respect to the Securities of a Series and any or
all of its obligations under the Securities of such Series if it fulfills such other means of satisfaction and discharge as may be so specified, as contemplated by Section 2.2, to be applicable to the Securities of such Series. 

(e) If Securities of any Series subject to subsections (a), (b), (c) or (d) of this Section 8.1 are to be redeemed prior
to their Stated Maturity, whether pursuant to any optional redemption provisions or in accordance with any mandatory or optional sinking fund provisions, the terms of the applicable trust arrangement shall provide for such redemption, and the Issuer
shall make such arrangements as are reasonably satisfactory to the Trustee for the giving of notice of redemption in the name, and at the expense, of the Issuer. 

  
 36 

 Section 8.2. Application of Trust Money. 

The Trustee or a trustee satisfactory to the Trustee and the Issuer shall hold in trust money or Government Obligations deposited with it
pursuant to Section 8.1 hereof. It shall apply the deposited money and the money from Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and premium (if any) and interest on the
Securities of the Series with respect to which the deposit was made. 
 Section 8.3. Repayment to Issuer.

 The Trustee and the Paying Agent shall promptly pay to the Issuer, any excess money or Government Obligations (or proceeds
therefrom) held by them at any time upon the written request of the Issuer. 
 Subject to the requirements of any applicable
abandoned property laws, the Trustee and the Paying Agent shall pay to the Issuer, upon written request any money held by them for the payment of principal, premium (if any) or interest that remains unclaimed for two years after the date upon which
such payment shall have become due. After payment to the Issuer, Holders entitled to the money must look to the Issuer for payment as general creditors unless an applicable abandoned property law designates another Person, and all liability of the
Trustee and the Paying Agent with respect to such money shall cease. 
 Section 8.4. Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money or Government Obligations deposited with respect to Securities of any
Series in accordance with Section 8.1 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 obligations of the Issuer
under this Indenture with respect to the Securities of such Series and under the Securities of such Series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.1 until such time as the Trustee or the Paying
Agent is permitted to apply all such money or Government Obligations in accordance with Section 8.1; provided, however, that if the Issuer has made any payment of principal of, premium (if any) or interest on any Securities
because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or Government Obligations held by the Trustee or the Paying Agent. 

ARTICLE IX. 

AMENDMENTS AND WAIVERS 
 Section 9.1. Without Consent of Holders. 
 Without the consent of any
Holder of Securities of a Series, the Issuer and the Trustee may amend or supplement this Indenture or the Series of Securities in the following circumstances: 
 (1) to cure any ambiguity, omission, defect or inconsistency; 

  
 37 

 (2) to provide for the assumption of the Issuer’s obligations under
this Indenture by a successor upon any merger, consolidation or transfer of substantially all of the assets of the Issuer; 
 (3) to provide for uncertificated Securities in addition to or in place of Certificated Securities; 
 (4) to provide any security for or guarantees of its Securities or for the addition of an additional obligor on its Securities; 

(5) to comply with any requirement to effect or maintain the qualification of this Indenture under the Trust Indenture Act
of 1939, as amended, if applicable; 
 (6) to add covenants that would benefit the Holders of its Securities or
to surrender any rights the Issuer has under this Indenture; 
 (7) to change or eliminate any of the provisions
of this Indenture, provided that any such change or elimination shall not become effective with respect to any outstanding Securities of any Series created prior to the execution of such supplemental indenture which is entitled to the benefit
of such provision; 
 (8) to provide for the issuance of and establish forms and terms and conditions of a new
Series of Securities; 
 (9) to permit or facilitate the defeasance and discharge of the Securities; 

(10) to issue additional Securities of any Series, provided that such additional Securities have the same terms as,
and be deemed part of the same Series as, the applicable Series of Securities to the extent required under this Indenture; 
 (11) to evidence and provide for the acceptance of and appointment 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 trust by more than one trustee; 
 (12) to add additional Events of Default with respect to Securities; and 
 (13) to make any change that does not adversely affect any of its outstanding Securities in any material respect. 
 Section 9.2. With Consent of Holders. 
 This Indenture or the
Securities of a Series may be amended or supplemented, and waivers may be obtained, with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Securities of such Series voting as a single class

  
 38 

 
(including consents obtained in connection with a tender offer or exchange offer for, or purchase of, such Securities of a Series), and any existing Default or Event of Default (other than a
Default or Event of Default in the payment of the principal of, premium on, if any or interest, if any, on, such Securities of a Series, except a payment Default resulting from an acceleration that has been rescinded) or compliance with any
provision of this Indenture or the Securities of such Series may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Securities of such Series voting as a single class (including consents
obtained in connection with a purchase of, or tender offer or exchange offer for, such Securities of a Series). 
 The Holders
of a majority in principal amount of the outstanding Securities of a Series issued by the Issuer may waive any existing or past Default or Event of Default with respect to those Securities. Those Holders may not, however, waive any Default or Event
of Default in any payment on any Security. 
 For the avoidance of doubt, any amendment, supplement or waiver to any Series of
Securities made with the consent of Holders of such Series of Securities, shall be made with respect to that Series of Securities only, and not any other Series of Securities. 
 Section 9.3. Limitations. 
 Without the consent of each Holder of
Securities of a Series affected thereby, an amendment, supplement or waiver may not (with respect to any Securities of such Series held by a non-consenting Holder): 

(1) reduce the amount of the Securities of such Series whose Holders must consent to an amendment, supplement or waiver;

 (2) reduce the rate of or change the time for payment of interest on the Securities of such Series;

 (3) reduce the principal of the Securities of such Series or change the Stated Maturity of the Securities of
such Series; 
 (4) reduce any premium payable on the redemption of the Securities of such Series or change the
time at which the Securities of such Series may or must be redeemed; 
 (5) make payments on the Security of such
Series payable in currency other than as originally stated in such Security; 
 (6) impair the Holder’s
right to institute suit for the enforcement of any payment on the Security of such Series; 
 (7) make any change
in the percentage of principal amount of the Securities of such Series necessary to waive compliance with Sections 6.7 and 6.13 of this Indenture or to make any change in this Section 9.3(7); or 

(8) waive a continuing Default or Event of Default regarding any payment on Securities of such Series. 

  
 39 

 In the event that consent is obtained from some of the Holders but not from all of the
Holders with respect to any amendments or waivers pursuant to clauses (1) through (8) of this Section 9.3, new Securities of such Series with such amendments or waivers will be issued to those consenting Holders. Such new Securities
shall have separate CUSIP numbers and ISINs from those Securities of such Series held by non-consenting Holders. 

Section 9.4. Form of Amendments. 
 Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture. 
 Section 9.5. Revocation and Effect of Consents. 
 Until an amendment
is set forth in a supplemental indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt
as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the
written notice of revocation before the date of the supplemental indenture or the date the waiver becomes effective. 
 Any
amendment or waiver once effective shall bind every Securityholder of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (1) through (8) of Section 9.3. In that case, the amendment or
waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security. 

Section 9.6. Notation on or Exchange of Securities. 
 The Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series thereafter authenticated. The Issuer, in exchange for its Securities of that Series, may issue and
the Trustee shall authenticate upon request new Securities of that Series that reflect the amendment or waiver. 

Section 9.7. Trustee Protected. 
 In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article IX or the modifications thereby of the trusts created by this Indenture, the Trustee shall
be entitled to receive, and (subject to Section 7.1) shall be fully protected in relying upon, an Opinion of Counsel 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 supplemental indentures which affect the Trustee’s own rights, duties, immunities, or indemnities under this Indenture, the Securities or otherwise. 

  
 40 

 ARTICLE X. 
 MISCELLANEOUS 
 Section 10.1. Notices. 

Any request, direction, instruction, demand, document, notice or communication by the Issuer or the Trustee to the other, or by a Holder
to the Issuer or the Trustee, shall be in English and in writing and delivered in person, mailed by first-class mail, delivered via facsimile or delivered by overnight courier as follows: 
 if to the Issuer: 
 Tejon Ranch Co. 

P.O. Box 1000 
 Lebec, California 93243 
 Fax:
[                    ] 
 Attention: Chief Financial Officer 
 in either case, with a copy to: 

Gibson, Dunn & Crutcher LLP 

2029 Century Park East 
 Los Angeles, California 90067 
 Fax: (310) 552-7038

 Attention: Mark S. Lahive 
 if to the Trustee: 

[                    
] 
 Notices shall be effective upon the recipient’s actual receipt thereof. Any party by notice to the other parties may
designate additional or different addresses for subsequent notices or communications. 
 Any notice or communication to
(i) a Securityholder of a Certificated Security shall be mailed by first-class mail to his address shown on the register kept by the Registrar (ii) a Securityholder of a Global Security shall be delivered to the Depositary in accordance
with its applicable procedures. Failure to mail a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other Securityholders of that or any other Series. 

If a notice or communication to any Securityholder is mailed or published in the manner provided above, within the time prescribed, it is
duly given, whether or not the Securityholder receives it. 

  
 41 

 If the Issuer mails a notice or communication to Securityholders, it shall mail a copy to
the Trustee and each Agent at the same time. 
 With respect to this Indenture, the Trustee shall not have any duty or
obligation to verify or confirm that the Person sending instructions, directions, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such instructions, directions, reports,
notices or other communications or information on behalf of the party purporting to send such electronic transmission; and the Trustee shall not have any liability for any losses, liabilities, costs or expenses incurred or sustained by any party as
a result of such reliance upon or compliance with such instructions, directions, reports, notices or other communications or information. Each other party agrees to assume all risks arising out of the use of electronic methods to submit
instructions, directions, reports, notices or other communications or information to the Trustee, including the risk of the Trustee acting on unauthorized instructions, notices, reports or other communications or information, and the risk of
interception and misuse by third parties. 
 Section 10.2. Communication by Holders with Other Holders. 

Securityholders of a Series may communicate pursuant to TIA § 312(b), as if such section applied hereto, with other Securityholders
of such Series with respect to their rights under this Indenture or the Securities. 
 Section 10.3. Certificate and
Opinion as to Conditions Precedent. 
 Upon any request or application by the Issuer to the Trustee to take any action under
this Indenture, the Issuer shall furnish to the Trustee: 
  

	 	1.	an Officer’s Certificate stating that, in the opinion of the signer, all conditions precedent, if any, provided for in this Indenture relating to the proposed
action have been complied with; and 

  

	 	2.	an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 

Section 10.4. Statements Required in Certificate or Opinion. 

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

  

	 	1.	a statement that the Person making such certificate or opinion has read such covenant or condition; 

 

	 	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 such Person, 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 or not, in the opinion of such Person, such condition or covenant has been complied with. 

  
 42 

 Section 10.5. Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series. Any Agent may make reasonable
rules and set reasonable requirements for its functions. 
 Section 10.6. Legal Holidays. 

Unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental indenture for a particular Series, a
“Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall
accrue for the intervening period. 
 Section 10.7. No Personal Liability of Directors, Officers, Employees and Certain
Others. 
 No director, officer, employee, incorporator or similar founder, stockholder or member of the Issuer will have
any liability for or any obligations of the Issuer under this Indenture or the Securities or for any claim based on, with respect to or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and
releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. The waiver may not be effective to waive liabilities under the federal securities laws. 

Section 10.8. Counterparts. 
 This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. Delivery of an executed counterpart of this Indenture by facsimile or electronic transmission shall be equally as effective as delivery of an original executed counterpart of this Indenture. Any
party delivering an executed counterpart of this Indenture by facsimile or electronic transmission also shall deliver an original executed counterpart of this Indenture, but the failure to deliver an original executed counterpart shall not affect
the validity, enforceability and binding effect of this Indenture. 
 Section 10.9. Governing Laws. 

THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE SECURITIES,
SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

  
 43 

 Section 10.10. No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret another indenture, loan or debt agreement of the Issuer or any Subsidiary of the Issuer. Any
such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 10.11. Successors.

 All agreements of the Issuer in this Indenture and the Securities shall bind their respective successors. All agreements of
the Trustee in this Indenture shall bind its successor. 
 Section 10.12. Severability. 

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. 
 Section 10.13. Table
of Contents, Headings, Etc. 
 The Table of Contents, Cross Reference Table, and headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

Section 10.14. Judgment Currency. 
 The Issuer agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due with
respect to the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange
used shall be the rate at which in accordance with normal banking procedures the recipient could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless
such day is not a New York Banking Day, then the rate of exchange used shall be the rate at which in accordance with normal banking procedures the recipient could purchase in The City of New York the Required Currency with the Judgment Currency on
the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any
recovery pursuant to any judgment (whether or not entered in accordance with clause (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the
full amount of the Required Currency expressed to be payable with respect to such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by
which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected 

  
 44 

 
by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a Legal
Holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. 
 Section 10.15. English Language. 
 This Indenture has been negotiated
and executed in the English language. All certificates, reports, notices and other documents and communications delivered or delivered pursuant to this Indenture (including any modifications or supplements hereto), shall be in the English language,
or accompanied by a certified English translation thereof. In the case of any document originally issued in a language other than English, the English language version of any such document shall for purposes of this Indenture, and absent manifest
error, control the meaning of the matters set out therein. 
 Section 10.16. Submission to Jurisdiction; Appointment of
Agent. 
 Any suit, action or proceeding against the Issuer or any of its properties, assets or revenues with respect to
this Indenture or the Securities (a “Related Proceeding”) may be brought in any state or Federal court in the Borough of Manhattan in The City of New York, New York, as the Person bringing such Related Proceeding may elect in its
sole discretion. The Issuer hereby consents to the non-exclusive jurisdiction of each such court for the purpose of any Related Proceeding and has irrevocably waived any objection to the laying of venue of any Related Proceeding brought in any such
court and to the fullest extent it may effectively do so and the defense of an inconvenient forum to the maintenance of any Related Proceeding or any such suit, action or proceeding in any such court. The Issuer hereby agrees that service of all
writs, claims, process and summonses in any Related Proceeding brought against it in the State of New York may be made upon [CT Corporation System, 111 Eighth Avenue, New York, New York 10011 (and any successor entity) (the “Process
Agent”)]. The Issuer irrevocably appoints the Process Agent as its agent and true and lawful attorney in fact in its name, place and stead to accept such service of any and all such writs, claims, process and summonses, and hereby agrees
that the failure of the Process Agent to give any notice to it of any such service of process shall not impair or affect the validity of such service or of any judgment based thereon. The Issuer hereby agrees to have an office or to maintain at all
times an agent with offices in the United States of America to act as Process Agent. Nothing in this Indenture shall in any way be deemed to limit the ability to serve any such writs, process or summonses in any other manner permitted by applicable
law. 
 Section 10.17. Waiver of Immunity. 
 To the extent that the Issuer has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service of notice, attachment prior to judgment,
attachment in aid of execution or execution, on the ground of sovereignty or otherwise) with respect to itself or its property, each hereby irrevocably waives, to the fullest extent permitted by applicable law, such immunity with respect to its
obligations under this Indenture or the Securities. 

  
 45 

 Section 10.18. Waiver of Jury Trial. 

EACH OF THE ISSUER AND THE TRUSTEE HERETO HEREBY IRREVOCABLY WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
(WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 
 [Signature page follows.] 

  
 46 

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

			
	TEJON RANCH CO.
		
	By:	 	  

		 	Name:
		 	Title:

 [Base Indenture – Debt Securities] 

 
			
	[TRUSTEE]
		
	By:	 	  

		 	Name:
		 	Title:

 [Base Indenture – Debt Securities]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}]]