Document:

EX-4.1

 Exhibit 4.1 

 
  

 
 WESTAR ENERGY, INC.

 TO 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. 
 as Trustee

 (as Successor to 
 HARRIS TRUST AND SAVINGS BANK) 
  

 
 FORTY-FOURTH
SUPPLEMENTAL INDENTURE 
 Dated as of August 19, 2013 

First Mortgage Bonds, 4.625% Series due 2043 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
	 Parties
	  	 	1	  
	 Recitals
	  	 	1	  
	 Granting Clause
	  	 	4	  
	 Habendum
	  	 	6	  
	 Exceptions and Reservations
	  	 	6	  
		
	ARTICLE I	  			
	DESCRIPTION OF BONDS OF THE 4.625% SERIES DUE
2043	  			
		
	 Section 1. General Description of Bonds of the 4.625% Series due 2043
	  	 	7	  
	 Section 2. Denominations of Bonds of the 4.625% Series due 2043 and Privilege of Exchange
	  	 	8	  
	 Section 3. Form of Bonds of the 4.625% Series due 2043
	  	 	9	  
	 Section 4. Execution and Form of Temporary Bonds of the 4.625% Series due 2043
	  	 	18	  
		
	ARTICLE II	  			
	ISSUE OF BONDS OF THE 4.625% SERIES DUE 2043	  			
		
	 Section 1. Limitation as to Principal Amount of Bonds of the 4.625% Series due 2043
	  	 	18	  
	 Section 2. Execution and Delivery of Bonds of the 4.625% Series due 2043
	  	 	18	  
	 Section 3. Additional Bonds of the 4.625% Series due 2043
	  	 	18	  
		
	ARTICLE III	  			
	REDEMPTION AND SUBSTITUTION OF BONDS OF THE 4.625%
SERIES DUE 2043	  			
		
	 Section 1. Optional Redemption of Bonds of the 4.625% Series due 2043
	  	 	19	  
	 Section 2. Substitution of Bonds of the 4.625% Series due 2043
	  	 	21	  
		
	ARTICLE IV	  			
	ADDITIONAL COVENANTS	  			
		
	 Section 1. Title to Mortgaged Property
	  	 	23	  
	 Section 2. To Retire Certain Portions of Bonds upon Release of All or Substantially All of the Electric
Properties
	  	 	23	  

					
		
	ARTICLE V	  			
	AMENDMENTS AND RESERVATIONS OF RIGHTS TO AMEND
THE ORIGINAL INDENTURE	  			
		
	 Section 1. So Long as Bonds Issued Prior to January 1, 1997 Remain Outstanding
	  	 	24	  
	 Section 2. Facsimile Signatures
	  	 	27	  
	 Section 3. Reservation of Right to Amend Article VII
	  	 	28	  
	 Section 4. Reservation of Right to Delete Certain Requirements and Conditions
	  	 	31	  
	 Section 5. Issuance of Variable Rate Bonds
	  	 	31	  
	 Section 6. Substitution of Bonds
	  	 	31	  
	 Section 7. Addition of a Governing Law Clause
	  	 	32	  
	 Section 8. Event of Default for Failure to Pay Final Judgments in Excess of $100,000
	  	 	32	  
	 Section 9. Net Earnings Test in Connection with Property Acquisitions
	  	 	32	  
	 Section 10. Addition of Nuclear Fuel
	  	 	33	  
	 Section 11. Modernization of the Original Indenture
	  	 	33	  
		
	ARTICLE VI	  			
	MISCELLANEOUS PROVISIONS	  			
		
	 Section 1. Acceptance of Trust
	  	 	34	  
	 Section 2. Responsibility and Duty of Trustee
	  	 	34	  
	 Section 3. Parties to Include Successors and Assigns
	  	 	35	  
	 Section 4. Benefits Restricted to Parties and to Holders of Bonds and Coupons
	  	 	35	  
	 Section 5. Execution in Counterparts
	  	 	35	  
	 Section 6. Titles of Articles Not Part of the Forty-Fourth Supplemental Indenture
	  	 	35	  
		
	 TESTIMONIUM
	  	 	S-1	  
	 SIGNATURES AND SEALS
	  	 	S-1	  
	 ACKNOWLEDGEMENTS
	  	 	S-2	  

 APPENDIX A 
 DESCRIPTION OF PROPERTIES 

  
 ii 

 FORTY-FOURTH SUPPLEMENTAL INDENTURE, dated as of the 19th day of August, Two Thousand and Thirteen, made by and between Westar
Energy, Inc., formerly The Kansas Power and Light Company, a corporation organized and existing under the laws of the State of Kansas (hereinafter called the “Company”), party of the first part, and The Bank of New York Mellon Trust
Company, N.A., a national banking association whose mailing address is 2 North La Salle Street, Chicago, Illinois 60602 (hereinafter called the “Trustee”), as Trustee (as successor to Harris Trust and Savings Bank), under the
Mortgage and Deed of Trust dated July 1, 1939, hereinafter mentioned, party of the second part; 
 WHEREAS,
the Company has heretofore executed and delivered to the Trustee its Mortgage and Deed of Trust dated July 1, 1939 (hereinafter referred to as the “Original Indenture”), to provide for and to secure the issue of First Mortgage
Bonds of the Company, issuable in series, and to declare the terms and conditions upon which the Bonds (as defined in the Original Indenture) are to be issued thereunder; and 

WHEREAS, the Company has heretofore executed and delivered to the Trustee Forty-Three Supplemental Indentures, in addition to the
Forty-Second Supplemental (Reopening) Indenture, supplemental to said Original Indenture, of which Forty-Two provided for the issuance thereunder of series of the Company’s First Mortgage Bonds, and there is set forth below information with
respect to such Supplemental Indentures as have provided for the issuance of Bonds, and the principal amount of Bonds which remain outstanding as of August 19, 2013: 

 

													
	 Supplemental
 Indenture
	  	Date	  	Series of
First Mortgage Bonds
Provided
For	  	Principal
Amount
Issued	 	  	Principal
Amount
Outstanding	 
	 Supplemental Indenture
	  	July 1, 1939	  	3-1/2% Series
Due 1969	  	$	26,500,000	  	  	 	None	  
	 Second Supplemental Indenture
	  	April 1, 1949	  	2-7/8% Series
Due 1979	  	 	10,000,000	  	  	 	None	  
	 Fourth Supplemental Indenture
	  	October 1, 1949	  	2-3/4% Series
Due 1979	  	 	6,500,000	  	  	 	None	  
	 Fifth Supplemental Indenture
	  	December 1, 1949	  	2-3/4% Series
Due 1984	  	 	32,500,000	  	  	 	None	  
	 Seventh Supplemental Indenture
	  	December 1, 1951	  	3-1/4% Series
Due 1981	  	 	5,250,000	  	  	 	None	  
	 Eighth Supplemental Indenture
	  	May 1, 1952	  	3-1/4% Series
Due 1982	  	 	4,750,000	  	  	 	None	  
	 Ninth Supplemental Indenture
	  	October 1, 1954	  	3-1/8% Series
Due 1984	  	 	8,000,000	  	  	 	None	  
	 Tenth Supplemental Indenture
	  	September 1, 1961	  	4-3/4% Series
Due 1991	  	 	13,000,000	  	  	 	None	  
	 Eleventh Supplemental Indenture
	  	April 1, 1969	  	7-5/8% Series
Due 1999	  	 	19,000,000	  	  	 	None	  

													
	 Supplemental
 Indenture
	  	Date	  	Series of
First Mortgage Bonds
Provided
For	  	Principal
Amount
Issued	 	  	Principal
Amount
Outstanding	 
	 Twelfth Supplemental Indenture
	  	September 1, 1970	  	8-3/4% Series
Due 2000	  	 	20,000,000	  	  	 	None	  
	 Thirteenth Supplemental Indenture
	  	February 1, 1975	  	8-5/8% Series
Due 2005	  	 	35,000,000	  	  	 	None	  
	 Fourteenth Supplemental Indenture
	  	May 1, 1976	  	8-5/8% Series
Due 2006	  	 	45,000,000	  	  	 	None	  
	 Fifteenth Supplemental Indenture
	  	April 1, 1977	  	5.90% Pollution
Control Series
Due 2007	  	 	32,000,000	  	  	 	None	  
	 Sixteenth Supplemental Indenture
	  	June 1, 1977	  	8-1/8% Series
Due 2007	  	 	30,000,000	  	  	 	None	  
	 Seventeenth Supplemental Indenture
	  	February 1, 1978	  	8-3/4% Series
Due 2008	  	 	35,000,000	  	  	 	None	  
	 Eighteenth Supplemental Indenture
	  	January 1, 1979	  	6-3/4% Pollution
Control Series
Due 2009	  	 	45,000,000	  	  	 	None	  
	 Nineteenth Supplemental Indenture
	  	May 1, 1980	  	8-1/4% Pollution
Control Series
Due 1983	  	 	45,000,000	  	  	 	None	  
	 Twentieth Supplemental Indenture
	  	November 1, 1981	  	16.95% Series
Due 1988	  	 	25,000,000	  	  	 	None	  
	 Twenty-First Supplemental Indenture
	  	April 1, 1982	  	15% Series
 Due 1992
	  	 	60,000,000	  	  	 	None	  
	 Twenty-Second Supplemental Indenture
	  	February 1, 1983	  	9-5/8% Pollution
 Control
Series
Due 2013
	  	 	58,500,000	  	  	 	None	  
	 Twenty-Third Supplemental Indenture
	  	July 1, 1986	  	8-1/4% Series
Due 1996	  	 	60,000,000	  	  	 	None	  
	 Twenty-Fourth Supplemental Indenture
	  	March 1, 1987	  	8-5/8% Series
Due 2020	  	 	50,000,000	  	  	 	None	  
	 Twenty-Fifth Supplemental Indenture
	  	October 15, 1988	  	9.35% Series
Due 1998	  	 	75,000,000	  	  	 	None	  
	 Twenty-Sixth Supplemental Indenture
	  	February 15, 1990	  	8-7/8% Series
Due 2000	  	 	75,000,000	  	  	 	None	  
	 Twenty-Seventh Supplemental Indenture
	  	March 12, 1992	  	7.46% Demand
Series	  	 	370,000,000	  	  	 	None	  
	 Twenty-Eighth Supplemental Indenture
	  	July 1, 1992	  	7-1/4% Series
Due 1999	  	 	125,000,000	  	  	 	None	  
		  		  	8-1/2% Series
Due 2022	  	 	125,000,000	  	  	 	None	  
	 Twenty-Ninth Supplemental Indenture
	  	August 20, 1992	  	7-1/4% Series
Due 2002	  	 	100,000,000	  	  	 	None	  

  
 2 

													
	 Supplemental
 Indenture
	 	Date	 	Series of
First Mortgage Bonds
Provided
For	 	Principal
Amount
Issued	 	 	Principal
Amount
Outstanding	 
	 Thirtieth Supplemental Indenture
	 	February 1, 1993	 	6% Pollution Control
Revenue Refunding Series Due 2033
	 	 	58,500,000	  	 	 	None	  
	 Thirty-First Supplemental Indenture
	 	April 15, 1993	 	7.65% Series
 Due 2023
	 	 	100,000,000	  	 	 	None	  
	 Thirty-Second Supplemental Indenture
	 	April 15, 1994	 	7-1/2% Series Pollution
Control Revenue
Refunding Due 2032	 	 	75,500,000	  	 	 	75,500,000	  
	 Thirty-Third Supplemental Indenture
	 	August 11, 1997	 	6-7/8% Convertible Series
Due 2004	 	 	370,000,000	  	 	 	None	  
		 		 	7-1/8% Convertible Series
Due 2009	 	 	150,000,000	  	 	 	None	  
	 Thirty-Fourth Supplemental Indenture
	 	June 28, 2000	 	9-1/2% Series
 Due 2003
	 	 	397,800,000	  	 	 	None	  
	 Thirty-Fifth Supplemental Indenture
	 	May 10, 2002	 	7-7/8% Series
 Due 2007
	 	 	365,000,000	  	 	 	None	  
	 Thirty-Sixth Supplemental Indenture
	 	June 1, 2004	 	5.00% Series Pollution
Control Refunding
Revenue Due 2033	 	 	58,340,000	  	 	 	None	  
	 Thirty-Seventh Supplemental Indenture
	 	June 17, 2004	 	6.00% Series
 Due 2014
	 	 	250,000,000	  	 	 	250,000,000	  
	 Thirty-Eighth Supplemental Indenture
	 	January 18, 2005	 	5.15% Series
 Due 2017
	 	 	125,000,000	  	 	 	125,000,000	  
		 		 	5.95% Series
 Due 2035
	 	 	125,000,000	  	 	 	125,000,000	  
	 Thirty-Ninth Supplemental Indenture
	 	June 30, 2005	 	5.10% Series
 Due 2020
	 	 	250,000,000	  	 	 	250,000,000	  
		 		 	5.875% Series
 Due 2036
	 	 	150,000,000	  	 	 	150,000,000	  
	 Fortieth Supplemental Indenture
	 	May 15, 2007	 	6.10% Series
 Due 2047
	 	 	150,000,000	  	 	 	None	  
	 Forty-First Supplemental Indenture
	 	November 25, 2008	 	8.625% Series
 Due 2018
	 	 	300,000,000	  	 	 	300,000,000	  
	 Forty-Second Supplemental Indenture
	 	March 1, 2012	 	4.125% Series
 Due 2042
	 	 	250,000,000	  	 	 	250,000,000	  
	 Forty-Second Supplemental (Reopening) Indenture
	 	May 17, 2012	 	4.125% Series
 Due 2042
	 	 	300,000,000	  	 	 	300,000,000	  
	 Forty-Third Supplemental Indenture
	 	March 28, 2013	 	4.10% Series
 Due 2043
	 	 	250,000,000	  	 	 	250,000,000	  

  
 3 

 ; and 
 WHEREAS, the Company is entitled at this time to have authenticated and delivered additional bonds, upon compliance with the provisions of Article III of the Original Indenture, as amended; and

 WHEREAS, the Company desires by this Forty-Fourth Supplemental Indenture (hereinafter referred to as this
“Supplemental Indenture”) to supplement the Original Indenture and to provide for the creation of a new series of bonds under the Original Indenture to be designated “First Mortgage Bonds, 4.625% Series due 2043”
(hereinafter called “Bonds of the 4.625% Series due 2043”); and the Original Indenture provides that certain terms and provisions, as determined by the Board of Directors of the Company, of the Bonds of any particular series may be
expressed in and provided by the execution of an appropriate supplemental indenture; and 
 WHEREAS, the Company in the
exercise of the powers and authority conferred upon and reserved to it under the provisions of the Original Indenture and indentures supplemental thereto, and pursuant to appropriate resolutions of its Board of Directors, has duly resolved and
determined to make, execute and deliver to the Trustee a supplemental indenture in the form hereof for the purposes herein provided; and 
 WHEREAS, all conditions and requirements necessary to make this Supplemental Indenture a valid, binding and legal instrument have been done, performed and fulfilled, and the execution and delivery hereof
have been in all respects duly authorized; 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: That, in consideration of the
premises and of the mutual covenants herein contained and of the sum of One Dollar duly paid by the Company to the Trustee at or before the time of the execution of these presents, and of other valuable considerations, the receipt whereof is hereby
acknowledged, and in order further to secure the payment of the principal of and interest and premium, if any, on all Bonds at any time issued and outstanding under the Original Indenture as amended by all indentures supplemental thereto
(hereinafter sometimes collectively called the “Indenture”) according to their tenor, purpose and effect, and to declare certain  

  
 4 

 
terms and conditions upon and subject to which Bonds are to be issued and secured, the Company has executed and delivered this Supplemental Indenture, and by these presents grants, bargains,
sells, warrants, aliens, releases, conveys, assigns, transfers, mortgages, pledges, sets over and ratifies and confirms unto The Bank of New York Mellon Trust Company, N.A., as Trustee, and to its successors in trust under the Indenture forever, all
and singular the following described properties (in addition to all other properties heretofore specifically subjected to the lien of the Indenture and not heretofore released from the lien thereof), that is to say: 

FIRST. 

All and singular the lands, real estate, chattels real, easements, servitudes, and leaseholds of the Company, or which, subject to the
provisions of Article XII of the Original Indenture, the Company may hereafter acquire, including, among other things, the existing property described in Appendix A hereto under the caption “First,” which description is hereby incorporated
herein by reference and made a part hereof as if fully set forth herein, together with all improvements of any type located thereon. 
 Also all power houses, plants, buildings and other structures, dams, dam sites, substations, heating plants, gas works, holders and tanks, compressor stations, gasoline extraction plants, together with
all and singular the electric heating, gas and mechanical appliances appurtenant thereto of every nature whatsoever, now owned by the Company or which it may hereafter acquire, including all and singular the machinery, engines, boilers, furnaces,
generators, dynamos, turbines and motors, and all and every character of mechanical appliance for generating or producing electricity, steam, water, gas and other agencies for light, heat, cold or power or any other purpose whatsoever. 

SECOND. 

Also all transmission and distribution systems used for the transmission and distribution of electricity, steam, water, gas and other
agencies for light, heat, cold or power, or any other purpose whatsoever, whether underground or overhead or on the surface or otherwise of the Company, or which, subject to the provisions of Article XII of the Original Indenture, the Company may
hereafter acquire, including all poles, posts, wires, cables, conduits, mains, pipes, tubes, drains, furnaces, switchboards, transformers, insulators, meters, lamps, fuses, junction boxes, water pumping stations, regulator stations, town border
metering stations and other electric, steam, water and gas fixtures and apparatus. 
 THIRD. 

Also all franchises and all permits, ordinances, easements, privileges and immunities and licenses, all rights to construct, maintain and
operate overhead, surface and underground systems for the distribution and transmission of 

  
 5 

 
electricity, gas, water or steam for the supply to itself or others of light, heat, cold or power or any other purpose whatsoever, all rights-of-way, all waters, water rights and flowage rights
and all grants and consents, now owned by the Company or, subject to the provisions of Article XII of the Original Indenture, which it may hereafter acquire. 
 Also all inventions, patent rights and licenses of every kind now owned by the Company or, subject to the provisions of Article XII of the Original Indenture, which it may hereafter acquire. 

FOURTH. 

Also, subject to the provisions of Article XII of the Original Indenture, all other property, real, personal and mixed (except as therein
or herein expressly excepted) of every nature and kind and wheresoever situated now or hereafter possessed by or belonging to the Company, or to which it is now, or may at any time hereafter be, in any manner entitled at law or in equity.

 FIFTH. 
 Also any and all property of any kind or description which may from time to time after the date of the Original Indenture by delivery or by writing of any kind be conveyed, mortgaged, pledged, assigned or
transferred to the Trustee by the Company or by any person, copartnership or corporation, with the consent of the Company or otherwise, and accepted by the Trustee, to be held as part of the mortgaged property; and the Trustee is hereby authorized
to accept and receive any such property and any such conveyance, mortgage, pledge, assignment and transfer, as and for additional security hereunder, and to hold and apply any and all such property subject to and in accordance with the terms and
provisions upon which such conveyance, mortgage, pledge, assignment or transfer shall be made. 
 SIXTH. 

Together with all and singular, the tenements, hereditaments and appurtenances belonging or in anywise appertaining to the aforesaid
property or any part thereof, with the reversion and reversions, remainder and remainders, tolls, rents, revenues, issues, income, products and profits thereof, and all the estate, right, title, interest and claim whatsoever, at law and in equity,
which the Company now has or may hereafter acquire in and to the aforesaid property and franchises and every part and parcel thereof. 
 EXPRESSLY EXCEPTING AND EXCLUDING, HOWEVER, all properties of the character excepted from the lien of the Original Indenture. 
 TO HAVE AND TO HOLD all said properties, real, personal and mixed, mortgaged, pledged and conveyed by the Company as aforesaid, or intended so to be, unto the Trustee and its successors and assigns
forever; 

  
 6 

 SUBJECT, HOWEVER, to the exceptions and reservations hereinabove referred to, to existing
leases other than leases which by their terms are subordinate to the lien of the Indenture, to existing liens upon rights-of-way for transmission or distribution line purposes, as defined in Article I of the Original Indenture; and any extensions
thereof, and subject to existing easements for streets, alleys, highways, rights-of-way and railroad purposes over, upon and across certain of the property herein before described and subject also to all the terms, conditions, agreements, covenants,
exceptions and reservations expressed or provided in the deeds or other instruments respectively under and by virtue of which the Company acquired the properties hereinabove described and to undetermined liens and charges, if any, incidental to
construction or other existing permitted liens as defined in Article I of the Original Indenture; 
 IN TRUST, NEVERTHELESS,
upon the terms and trusts in the Original Indenture, and the indentures supplemental thereto, including this Supplemental Indenture, set forth, for the equal and proportionate benefit and security of all present and future holders of the Bonds and
coupons issued and to be issued thereunder, or any of them, without preference of any of said Bonds and coupons of any particular series over the Bonds and coupons of any other series by reason of priority in the time of issue, sale or negotiation
thereof, or by reason of the purpose of issue or otherwise howsoever, except as otherwise provided in Section 2 of Article IV of the Original Indenture. 
 AND IT IS HEREBY COVENANTED, DECLARED AND AGREED, by and between the parties hereto for the benefit of those who shall hold the Bonds and coupons, or any of them, to be issued under the Indenture as
follows: 
 ARTICLE I 
 DESCRIPTION OF BONDS OF THE 4.625% SERIES DUE 2043 

Section 1. General Description of Bonds of the 4.625% Series due 2043. The Bonds of the 4.625% Series due 2043 to be
executed, authenticated and delivered under and secured by the Original Indenture shall be designated as “First Mortgage Bonds, 4.625% Series due 2043” of the Company. The Bonds of the 4.625% Series due 2043 shall be executed,
authenticated and delivered in accordance with the provisions of, and shall in all respects be subject to, all of the terms, conditions and covenants of the Indenture and subject to all the terms, conditions and covenants of this Supplemental
Indenture. 
 Bonds of the 4.625% Series due 2043 shall mature on September 1, 2043 and shall bear interest at the rate of
four and five eighths percent (4.625%) per annum payable semi-annually on the first day of March and September in each year, commencing March 1, 2014. Every Bond of the 4.625% Series due 2043 shall be dated the date of authentication of
such Bond except that, notwithstanding the provisions of Section 6 of Article II of the Original Indenture, if any Bond of the 4.625% Series 

  
 7 

 
due 2043 shall be authenticated at any time subsequent to the record date (as hereinafter in this Section defined) for any interest payment date but prior to the day following such interest
payment date, it shall be dated as of the day following such interest payment date, provided, however, if at the time of authentication of any Bond of the 4.625% Series due 2043 interest shall be in default on any Bonds of the 4.625%
Series due 2043, such Bond shall be dated as of the day following the interest payment date to which interest has previously been paid in full or made available for payment in full on outstanding Bonds of the 4.625% Series due 2043, as the case may
be, or, if no interest has been paid or made available for payment, as of the date of initial authentication and delivery of such Bond. Every Bond of the 4.625% Series due 2043 shall bear interest from the March 1 or September 1
immediately preceding the date thereof, unless such Bond shall be dated prior to September 1, 2013, in which case it shall bear interest from August 19, 2013. 
 The person in whose name any Bond of the 4.625% Series due 2043 is registered at the close of business on any record date with regard to any interest payment date shall be entitled to receive the
interest payable thereon on such interest payment date notwithstanding the cancellation of such Bond upon the transfer or exchange thereof subsequent to such record date and prior to the day following such interest payment date, unless the Company
shall default in the payment of the interest due on such interest payment date, in which case such defaulted interest shall be paid to the person in whose name such Bond is registered on the date of payment of such defaulted interest. The term
“record date” as used in this Section with regard to any March 1 and September 1 interest payment date shall mean the close of business on the immediately preceding February 15 and August 15, respectively, or if
such day is not a business day, the business day immediately preceding such day. The Bonds of the 4.625% Series due 2043 shall be payable as to principal, premium, if any, and interest, in any coin or currency of the United States of America which
at the time of payment is legal tender for public and private debts, at the agency of the Company in the City of Chicago, Illinois, or at the option of the holder thereof at the agency of the Company in the Borough of Manhattan, The City of New
York, provided that at the option of the Company interest may be paid by check mailed to the holder at such holder’s registered address. 
 Section 2. Denominations of Bonds of the 4.625% Series due 2043 and Privilege of Exchange. The Bonds of the 4.625% Series due 2043 shall be registered bonds without coupons of the minimum
denominations of $2,000 and of any integral multiples of $1,000 in excess thereof, numbered consecutively from R-1. Bonds of the 4.625% Series due 2043 may each be interchanged for other Bonds within the same Series in authorized denominations and
in the same aggregate principal amounts, without charge, except for any tax or governmental charge imposed in connection with such interchange. 

  
 8 

 Section 3. Form of Bonds of the 4.625% Series due 2043. The Bonds of the 4.625%
Series due 2043, and the Trustee’s Certificate with respect thereto, shall be substantially in the following forms, respectively: 
 [Form of Bond appears on following page] 

  
 9 

 [FORM OF LEGEND FOR GLOBAL SECURITY] 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE
THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE OR ANY SUPPLEMENT THERETO. 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT HEREON IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO A PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP 95709TAK6 

WESTAR ENERGY, INC. 
 (Incorporated under the laws of the State of Kansas) 
 FIRST MORTGAGE BOND, 4.625%
Series due 2043 
 DUE SEPTEMBER 1, 2043 
  

			
	No. R-	  	$            

 WESTAR ENERGY, INC., a corporation organized and existing under the laws of the State of Kansas
(hereinafter called the “Company”, which term shall include any successor corporation as defined in the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO. or registered assigns, on
the first day of September 2043, the principal sum of                in any coin or currency of the United States of America which at the time of payment is legal tender for
public and private debts, and to pay interest thereon in 

  
 10 

 
like coin or currency from the first day of March and September immediately preceding the date of this Bond, unless such Bond shall be dated prior to September 1, 2013, in which case from
August 19, 2013 at the rate of four and five eighths percent (4.625%) per annum, payable semi-annually, on March 1 and September 1 of each year, commencing March 1, 2014, until maturity, or, if this Bond shall be duly called
for redemption or submitted for repurchase, until the redemption date or repurchase date, as the case may be, or, if the Company shall default in the payment of the principal or premium hereof, until the Company’s obligation with respect to the
payment of such principal or premium shall be discharged as provided in the Indenture hereinafter mentioned. The interest payable on any March 1 or September 1 interest payment date as aforesaid will be paid to the person in whose name
this Bond is registered at the close of business on the immediately preceding February 15 and August 15, respectively, or if such day is not a business day, the business day immediately preceding such day (the “record
date”), unless the Company shall default in the payment of the interest due on such interest payment date, in which case such defaulted interest shall be paid to the person in whose name this Bond is registered on the date of payment of
such defaulted interest. Principal of, premium, if any, and interest on, this Bond are payable at the agency of the Company in the City of Chicago, Illinois in immediately available funds, or at the option of the holder thereof at the agency of the
Company in the Borough of Manhattan, The City of New York, provided that at the option of the Company interest may be paid by check mailed to the holder at such holder’s registered address. 

This Bond is one of a duly authorized issue of Bonds of the Company (herein called the “Bonds”), in unlimited aggregate
principal amount, of the series hereinafter specified, all issued and to be issued under and equally and ratably secured by a Mortgage and Deed of Trust, dated July 1, 1939 (the “Original Mortgage”), executed by the Company to
The Bank of New York Mellon Trust Company, N.A. (herein called the “Trustee”), as Trustee (as successor to Harris Trust and Savings Bank), as amended by indentures supplemental thereto including the Forty-Fourth indenture
supplemental thereto dated as of August 19 , 2013 (herein called the “Supplemental Indenture”), between the Company and the Trustee (said Original Mortgage, as so amended, being herein called the “Indenture”),
to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the properties mortgaged and pledged, the nature and extent of the security, the rights of the bearers or registered owners of the Bonds and of
the Trustee in respect thereto, and the terms and conditions upon which the Bonds are, and are to be, secured. The Bonds may be issued in series, for various principal sums, may mature at different times, may bear interest at different rates and may
otherwise vary as in the Indenture provided. This Bond is one of a series designated as the “First Mortgage Bonds, 4.625% Series due 2043” (herein called “Bonds of the 4.625% Series due 2043”) of the Company, issued under
and secured by the Indenture executed by the Company to the Trustee. Additional Bonds of the 4.625% Series due 2043 may be issued, at the option of the Company, without the consent of any holder of the Bonds of the 4.625% Series due 2043, at any
time and from time to time in unlimited aggregate principal amount. 

  
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 To the extent permitted by, and as provided in the Indenture, modifications or alterations
of the Indenture or of any indenture supplemental thereto, and of the rights and obligations of the Company and of the holders of the Bonds and coupons, may be made with the consent of the Company by an affirmative vote of not less than 60% in
principal amount of the Bonds entitled to vote then outstanding, at a meeting of Bondholders called and held as provided in the Indenture, and by an affirmative vote of not less than 60% in principal amount of the Bonds of any series entitled to
vote then outstanding and affected by such modification or alteration, in case one or more but less than all of the series of Bonds then outstanding under the Indenture are so affected. No modification or alteration shall be made which will affect
the terms of payment of the principal of or premium, if any, or interest on, this Bond, which are unconditional. The Company has reserved the right to make certain amendments to the Indenture, without any consent or other action by holders of the
Bonds of this series (i) to the extent necessary from time to time to qualify the Indenture under the Trust Indenture Act of 1939, (ii) to delete the requirement that the Company meet a net earnings test as a condition to authenticating
additional Bonds or merging into another company, (iii) to make certain other amendments which make the provisions for the release of mortgaged property less restrictive and (iv) to make certain other amendments, all as more fully provided
in the Indenture and in the Supplemental Indenture. In addition, once all Bonds issued prior to January 1, 1997 are no longer outstanding, the Company will be permitted to issue additional Bonds in an amount equal to 70% of the value of net
bondable property additions not subject to an unfunded prior lien, as provided in the Original Mortgage. 
 This Bond is subject
to redemption by the Company, at its option, on or after March 1, 2043 at any time in whole, or from time to time in part, at a redemption price equal to 100% of the principal amount of the Bond to be redeemed, plus accrued and unpaid interest
on the Bond to but excluding the redemption date. 
 This Bond is subject to redemption by the Company prior to March 1,
2043 at any time in whole, or from time to time in part, at a price equal to the greater of: (a) 100% of the principal amount of the Bond to be redeemed, plus accrued and unpaid interest on the Bond to but excluding the redemption date, or
(b) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the Bond to be redeemed (not including any portion of payments of interest accrued as of the redemption
date) discounted to the redemption date on a semi-annual basis at the Adjusted Treasury Rate plus fifteen (15) basis points, plus accrued and unpaid interest on the Bond to but excluding the redemption date, in each of cases (a) and
(b) as provided in the Supplemental Indenture. 

  
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 Such redemption in every case shall be effected upon notice given: (1) at least thirty
days and not more than sixty days prior to the redemption date, to the registered owners of such Bonds at their addresses as the same shall appear on the transfer register of the Company; and (2) stating, among other things, the redemption
price and date, in each case, subject to the conditions of and as more fully set forth in the Indenture. 
 The redemption price
will be calculated assuming a 360-day year consisting of twelve 30-day months. 
 A notice of redemption may provide that the
optional redemption described in such notice is conditioned upon the occurrence of certain events before the redemption date. Such notice of conditional redemption will be of no effect unless all such conditions to the redemption have occurred
before the redemption date or have been waived by the Company. If any of these events fail to occur and are not waived by the Company, the Company will be under no obligation to redeem the Bonds or pay the holders thereof any redemption proceeds,
and the Company’s failure to so redeem the Bonds will not be considered a default or event of default under the Indenture. In the event that any of these conditions fail to occur and are not waived by the Company, the Company will promptly
notify the Trustee in writing that the conditions precedent to such redemption have failed to occur and the Bonds will not be redeemed. 
 Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the bonds or portions of the bonds called for redemption. 

“Adjusted Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for the redemption date. 

“Business Day” means any day that is not a day on which banking institutions in New York City are authorized or required
by law or regulation to close. 
 “Comparable Treasury Issue” means the United States Treasury security
selected by the Quotation Agent as having a maturity comparable to the remaining term of the Bonds that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities
of comparable maturity to the remaining term of the Bonds. 
 “Comparable Treasury Price” means, with respect
to any redemption date: 

  
 13 

	 	•	 	 the average of the Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of the Reference Treasury
Dealer Quotations; or 

  

	 	•	 	 if the Quotation Agent obtains fewer than four Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so
received. 

 “Quotation Agent” means, as selected by the Company, one of the Reference
Treasury Dealers. 
 “Reference Treasury Dealer” means (1) each of (a) a Primary Treasury Dealer (as
hereinafter defined) selected by Mitsubishi UFJ Securities (USA), Inc., (b) UBS Securities LLC, and (c) a Primary Treasury Dealer selected by Wells Fargo Securities, LLC, and their respective successors, unless any of them ceases to be a
primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), in which case the Company shall substitute for such Reference Treasury Dealer another Primary Treasury Dealer; and (2) any other
Primary Treasury Dealer selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect
to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in
writing to the Quotation Agent by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding that redemption date. 
 In case an event of default, as defined in the Indenture, shall occur, the principal of all of the Bonds at any such time outstanding under the Indenture may be declared or may become due and payable,
upon the conditions and in the manner and with the effect provided in the Indenture. The Indenture provides that such declaration may in certain events be waived by the holders of a majority in principal amount of the Bonds outstanding. 

This Bond is transferable by the registered owner hereof, in person or by duly authorized attorney, on the books of the Company to be
kept for that purpose at the agency of the Company in the City of Chicago, Illinois, and at the agency of the Company in the Borough of Manhattan, The City of New York, upon surrender and cancellation of this Bond and on presentation of a duly
executed written instrument of transfer, and thereupon a new registered Bond or Bonds of the same series, of the same aggregate principal amount and in authorized denominations will be issued to the transferee or transferees in exchange herefor; and
this Bond, with or without others of like form and series, may in like manner be exchanged for one or more new registered Bonds of the same series of other authorized denominations but of the same aggregate principal amount; all upon payment of the
charges and subject to the terms and conditions set forth in the Indenture. 

  
 14 

 The Company or a successor entity may deliver to the Trustee in substitution for any Bonds
of the 4.625% Series due 2043, mortgage bonds or other similar instruments as set forth in the Indenture. 
 Subject to the
preceding sentence, no recourse shall be had for the payment of the principal of or premium, if any, or interest on this Bond, or for any claim based hereon or on the Indenture or any indenture supplemental thereto, against any incorporator, or
against any stockholder, director or officer, past, present or future, of the Company, or of any predecessor or successor corporation, as such, either directly or through the Company or any such predecessor or successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability, whether at common law, in equity, by any constitution, statute or otherwise, of incorporators, stockholders,
directors or officers being released by every owner hereof by the acceptance of this Bond and as part of the consideration for the issue hereof, and being likewise released by the terms of the Indenture. 

No director, officer, employee or stockholder of the Company will have any liability for any obligations of the Company under the Bonds
or Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each holder by accepting a Bond waives and releases all such liability. The waiver and release are part of the consideration for issuance of
the Bonds. The waiver may not be effective to waive liabilities under the federal securities laws. It is the view of the Securities and Exchange Commission that this type of waiver is against public policy. 

This Bond shall not be entitled to any benefit under the Indenture or any indenture supplemental thereto, or become valid or obligatory
for any purpose, until The Bank of New York Mellon Trust Company, N.A., the Trustee (as successor to Harris Trust and Savings Bank) under the Indenture, or a successor trustee thereto under the Indenture, shall have signed the form of certificate
endorsed hereon. 

  
 15 

 IN WITNESS WHEREOF, WESTAR ENERGY, INC. has caused this Bond to be signed in its name by its
Chairman of the Board, President and Chief Executive Officer or a Vice President, manually or by facsimile, and its corporate seal (or a facsimile thereof) to be hereto affixed and attested by its Secretary or an Assistant Secretary, manually or by
facsimile. 
 Dated: August         , 2013 

 

			
	WESTAR ENERGY, INC.
		
	By	 	  

		 	Anthony D. Somma
		 	Senior Vice President,
		 	Chief Financial Officer and Treasurer

  

	
	Attest:
	  

	Larry D. Irick
	Vice President, General Counsel and
	Corporate Secretary

 [SIGNATURE PAGE TO GLOBAL NOTE] 

  
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 TRUSTEE’S CERTIFICATE 

This Bond is one of the Bonds, of the series designated herein, described in the within-mentioned Mortgage and Deed of Trust of
July 1, 1939 and Supplemental Indenture dated as of August         , 2013. 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. As Trustee
		
	By	 	  

		 	Authorized Person

 [TRUSTEE’S CERTIFICATE TO GLOBAL NOTE] 

  
 17 

 Section 4. Execution and Form of Temporary Bonds of the 4.625% Series due 2043.
Until Bonds of the 4.625% Series due 2043 in definitive form are ready for delivery, the Company may execute, and upon its request in writing the Trustee shall authenticate and deliver, in lieu thereof, Bonds of the 4.625% Series due 2043 in
temporary form, as provided in Section 9 of Article II of the Original Indenture. 
 ARTICLE II 

ISSUE OF BONDS OF THE 4.625% SERIES
DUE 2043 
 Section 1. Limitation as to Principal Amount of Bonds of the 4.625% Series due 2043. The
total principal amount of Bonds of the 4.625% Series due 2043 which may be authenticated and delivered hereunder is not limited except as the Original Indenture and this Supplemental Indenture limit the principal amount of Bonds which may be issued
thereunder. 
 Section 2. Execution and Delivery of Bonds of the 4.625% Series due 2043. Bonds of the 4.625% Series
due 2043 for the aggregate principal amount of $250,000,000 may forthwith be executed by the Company and delivered to the Trustee and shall be authenticated by the Trustee and delivered (either before or after the filing or recording hereof) to or
upon the order of the Company, upon receipt by the Trustee of the resolutions, certificates, instruments and opinions required by Article III of the Original Indenture. 
 Section 3. Additional Bonds of the 4.625% Series due 2043. The Bonds of the 4.625% Series due 2043 need not be issued at the same time. Subject to the limitations of the Original Indenture and this
Supplemental Indenture with respect to the principal amount of Bonds which may be issued thereunder, the Company may, from time to time, at its option and without the consent of any holder of the Bonds of the 4.625% Series due 2043, reopen the
4.625% Series due 2043 for issuance of additional Bonds of the 4.625% Series due 2043 (such Bonds, “Additional Bonds”); provided that if the Additional Bonds are not fungible with the previously issued Bonds of the 4.625%
Series due 2043 for United States federal income tax purposes, the Additional Bonds will have a separate CUSIP number, and further provided that Additional Bonds shall rank pari passu with any outstanding Bonds of the 4.625% Series due
2043, shall be consolidated with and treated as a single class with the outstanding Bonds of the 4.625% Series due 2043 for all purposes, and shall have terms and conditions identical to those of the other outstanding Bonds of the 4.625% Series due
2043, except that Additional Bonds may differ with respect to: 
 (i) the date of issuance; 

(ii) the amount of interest payable on the first interest payment date therefor; 

  
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 (iii) the first interest payment date; 

(iv) the issue price; and 
 (v) any adjustments necessary in order to conform to and ensure compliance with the Securities Act of 1933 (or other applicable securities laws), which are not adverse in any material respect to the
holder of any outstanding Bonds of the 4.625% Series due 2043. 
 Additional Bonds of the 4.625% Series due 2043 executed by the
Company and delivered to the Trustee shall be authenticated by the Trustee and delivered (either before or after the filing or recording hereof) to or upon the order of the Company, upon receipt by the Trustee of the resolutions, certificates,
instruments and opinions required by Article III of the Original Indenture. 
 ARTICLE III 

REDEMPTION AND SUBSTITUTION OF BONDS OF
THE 4.625% SERIES DUE 2043 
 Section 1. Optional Redemption of Bonds of
the 4.625% Series due 2043. 
 (1) Optional Redemption of Bonds of the 4.625% Series due 2043. Prior to
March 1, 2043, the Company may, at its option, redeem the Bonds of the 4.625% Series due 2043 at any time in whole, or from time to time in part, after giving the required notice under subsection (2) of this Article III, Section 1, at
a redemption price equal to the greater of: (a) 100% of the principal amount of the Bonds of the 4.625% Series due 2043 to be redeemed, plus accrued and unpaid interest on Bonds of the 4.625% Series due 2043 to be redeemed to but excluding the
redemption date or (b) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the Bonds of the 4.625% Series due 2043 to be redeemed (not including any portion of
payments of interest accrued as of the redemption date) discounted to the redemption date on a semi-annual basis at the Adjusted Treasury Rate plus fifteen (15) basis points, plus accrued and unpaid interest on those Bonds of the 4.625% Series
due 2043 to be redeemed to but excluding the redemption date.  
 On or after March 1, 2043, the Company may, at its
option, redeem the Bonds of the 4.625% Series due 2043 at any time in whole, or from time to time in part, after giving the required notice under subsection (2) of this Article III, Section 1, at a redemption price equal to 100% of the
principal amount of the Bonds to be redeemed, plus accrued and unpaid interest on the Bonds to but excluding the redemption date. 
 The redemption price will be calculated assuming a 360-day year consisting of twelve 30-day months. 

  
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 Unless the Company defaults in payment of the redemption price, on and after the redemption
date, interest will cease to accrue on the Bonds of the 4.625% Series due 2043 or portions of the Bonds of the 4.625% Series due 2043 called for redemption. 
 (2) Notice of Redemption. Subject to the provisions of Article V of the Original Indenture, in the case of redeeming all or any portion of the Bonds of the 4.625% Series due 2043, the
Company shall cause notice of redemption to be given (1) at least thirty days and not more than sixty days prior to the date of redemption, to the registered owners of such Bonds of the 4.625% Series due 2043 at their addresses as the same
shall appear on the transfer register of the Company; and (2) stating, among other things, the redemption price and date. 
 Notwithstanding the foregoing, a notice of redemption may provide that the optional redemption described in such notice is conditioned upon the occurrence of certain events before the date of redemption.
Such notice of conditional redemption will be of no effect unless all such conditions to the redemption shall have occurred before the redemption date or shall have been waived by the Company. If any of these events fail to occur and are not waived
by the Company, the Company will be under no obligation to redeem the Bonds of the 4.625% Series due 2043 or pay the holders thereof any redemption proceeds and the Company’s failure to so redeem the Bonds of the 4.625% Series due 2043 will not
be considered a default or event of default under the Indenture. In the event that any of these conditions fail to occur or are not waived by the Company, the Company will promptly notify the Trustee in writing that the conditions precedent to such
redemption have failed to occur and the Bonds of the 4.625% Series due 2043 will not be redeemed. 
 “Adjusted
Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for the redemption date.  

“Business Day” means any day that is not a day on which banking institutions in New York City are authorized or
required by law or regulation to close. 
 “Comparable Treasury Issue” means the United States Treasury
security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Bonds that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the Bonds. 
 “Comparable Treasury Price” means,
with respect to any redemption date: 

  
 20 

	 	•	 	 the average of the Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of the Reference Treasury
Dealer Quotations; or 

  

	 	•	 	 if the Quotation Agent obtains fewer than four Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so
received. 

 “Quotation Agent” means, as selected by the Company, one of the Reference
Treasury Dealers. 
 “Reference Treasury Dealer” means (1) each of (a) a Primary Treasury Dealer (as
hereinafter defined) selected by Mitsubishi UFJ Securities (USA), Inc., (b) UBS Securities LLC, and (c) a Primary Treasury Dealer selected by Wells Fargo Securities, LLC, and their respective successors, unless any of them ceases to be a
primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), in which case the Company shall substitute for such Reference Treasury Dealer another Primary Treasury Dealer; and (2) any other
Primary Treasury Dealer selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect
to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in
writing to the Quotation Agent by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding that redemption date. 
 Section 2. Substitution of Bonds of the 4.625% Series due 2043 . The Company may deliver to the Trustee in substitution for any Bonds of the 4.625% Series due 2043, mortgage bonds or
other similar secured instruments of the Company or any successor entity, whether by merger, combination or acquisition of all or substantially all of the assets of the Company, or otherwise, issued under a mortgage and deed of trust or similar
instrument of the Company or any successor entity in like principal amount of like term and bearing the same rate of interest and having the same interest payment dates and same redemption provisions as the Bonds of the 4.625% Series due 2043 and
which are otherwise substantially similar to the Bonds of the 4.625% Series due 2043 (such substituted bonds hereinafter being referred to in this Article III, Section 2 as the “4.625% Series due 2043 Substituted Mortgage
Bonds”). The 4.625% Series due 2043 Substituted Mortgage Bonds may only be delivered to the Trustee upon receipt by the Trustee of (i) a letter from Moody’s (as hereinafter defined), dated within ten days prior to the date of
delivery of the 4.625% Series due 2043 Substituted Mortgage Bonds, stating that its rating of the 4.625% Series due 2043 

  
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Substituted Mortgage Bonds is at least equal to its then current rating on the Bonds of the 4.625% Series due 2043, (ii) a letter from S&P (as hereinafter defined), dated within ten days
prior to the date of delivery of the 4.625% Series due 2043 Substituted Mortgage Bonds, stating that its rating to the 4.625% Series due 2043 Substituted Mortgage Bonds is at least equal to its then current rating on the Bonds of the 4.625% Series
due 2043, (iii) a letter from Fitch (as hereinafter defined), dated within ten days prior to the date of delivery of the 4.625% Series due 2043 Substituted Mortgage Bonds, stating that its rating to the 4.625% Series due 2043 Substituted
Mortgage Bonds is at least equal to its then current rating on the Bonds of the 4.625% Series due 2043, (iv) an opinion of counsel, which may be counsel to the Company or any successor entity, that such substitution will not result in the
recognition of capital gain or loss for U.S. federal income tax purposes to the holders of the Bonds of the 4.625% Series due 2043, (v) an opinion of counsel which may be counsel to the Company or any successor entity, to the effect that the
4.625% Series due 2043 Substituted Mortgage Bonds shall have been duly and validly authorized, executed, authenticated, and delivered and shall constitute the valid, legally binding and enforceable obligations of the Company or any successor entity
enforceable in accordance with their terms, except as limited by bankruptcy, insolvency or other laws affecting the enforcement of mortgagees’ and other creditors’ rights and shall be entitled to the benefit of the mortgage and deed of
trust or other similar instrument pursuant to which they shall have been issued and (vi) such other certificates and documents with respect to the issuance and delivery of the 4.625% Series due 2043 Substituted Mortgage Bonds as may be required
by law or as the Trustee may reasonably request. 
 “Fitch” means Fitch Ratings, which is part of the
Fitch Group, a jointly-owned subsidiary of Fimalac, S.A. and Hearst Corporation, its successors and their assigns, except that if such entity shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency,
then the term “Fitch” shall be deemed to refer to any other nationally recognized securities rating agency selected by the Company. 
 “Moody’s” means Moody’s Investors Service, Inc., a corporation organized and existing under the laws of the State of Delaware, its successors and their assigns, except
that if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, then the term “Moody’s” shall be deemed to refer to any other nationally recognized securities rating
agency selected by the Company. 
 “S&P” means Standard & Poor’s Ratings
Services, a division of The McGraw Hill Companies, Inc., duly organized and existing under and by virtue of the laws of the State of New York, and its successors and assigns, except that if such rating agency shall be dissolved or liquidated or
shall no longer perform the functions of a securities rating agency, then the term “S&P” shall be deemed to refer to any other nationally recognized securities rating agency selected by the Company. 

  
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 ARTICLE IV 
 ADDITIONAL COVENANTS 
 The Company hereby covenants,
warrants and agrees: 
 Section 1. Title to Mortgaged Property. That the Company is lawfully seized and possessed of
all of the mortgaged property described in the granting clauses of this Supplemental Indenture; that it has good, right and lawful authority to mortgage the same as provided in this Supplemental Indenture; and that such mortgaged property is, at the
actual date of the initial issue of the Bonds of the 4.625% Series due 2043 and at the date of issuance of any Additional Bonds, as applicable, free and clear of any deed of trust, mortgage, lien, charge or encumbrance thereon or affecting the title
thereto prior to the Indenture, except as set forth in the granting clauses of the Original Indenture, the Thirty-Second Supplemental Indenture, the Thirty-Seventh Supplemental Indenture, the Thirty-Eighth Supplemental Indenture, the Thirty-Ninth
Supplemental Indenture, the Forty-First Supplemental Indenture, the Forty-Second Supplemental Indenture, the Forty-Second Supplemental (Reopening) Indenture, the Forty-Third Supplemental Indenture and this Supplemental Indenture. 

Section 2. To Retire Certain Portions of Bonds upon Release of All or Substantially All of the Electric Properties. So long
as any Bonds of any series originally issued prior to January 1, 1997 are outstanding, in the event all or substantially all of the electric properties shall have been released as an entirety from the lien of the Original Indenture, the Company
will, at any time or from time to time within six months after the date of such release, retire Bonds outstanding under the Original Indenture in an aggregate principal amount equal to the fair value of the electric properties so released pursuant
to Section 3 of Article VII of the Original Indenture, as stated in the engineer’s certificate required by Section 3(b) of said Article VII, and the proceeds of the electric properties so released pursuant to Section 5
of said Article VII. Such retirement of Bonds shall be effected in either one or both of the following methods: 
 (a) By
the withdrawal pursuant to Section 2 of Article VIII of the Original Indenture of any moneys deposited with the Trustee pursuant to Sections 3(d), 4(d) and 5 of Article VII of the Original Indenture upon such release; or 

(b) By causing the Trustee to purchase or redeem bonds, pursuant to Section 8 of Article VIII of the Original Indenture, out of
any moneys deposited with the Trustee pursuant to Sections 3(d), 4(d) and 5 of Article VII of the Original Indenture upon such release. 
 The Bonds to be so retired pursuant to such Section 3 of Article VII of the Original Indenture shall include a principal amount of Bonds of each Series then outstanding in the same ratio to the
aggregate principal amount of all Bonds so retired as the aggregate principal amount of all Bonds of each Series outstanding immediately prior to such release bears to the total principal amount of all Bonds then outstanding. 

  
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 ARTICLE V 
 AMENDMENTS AND RESERVATIONS OF RIGHTS TO AMEND THE ORIGINAL
INDENTURE 
 Section 1. So Long as Bonds Issued Prior to January 1, 1997 Remain Outstanding. So
long as any of the Bonds of any series originally issued prior to January 1, 1997 shall remain outstanding: 
 (a)
Notwithstanding the provisions of Section 4 of Article III of the Original Indenture, no Bonds shall be authenticated and delivered pursuant to the provisions of Article III of the Original Indenture and issued upon the basis of net bondable
value of property additions for an aggregate principal amount in excess of sixty percent (60%) of the net bondable value of property additions not subject to an unfunded prior lien. 

For the purposes of Subsections (e) and (f) of the definition of “net bondable value of property additions not subject to
an unfunded prior lien,” contained in Article I of the Original Indenture, and Subdivisions 8 and 9 of clause (a) of Section 4 of Article III of the Original Indenture, in all computations made with respect to a period subsequent to
April 1, 1949, the deductions therein referred to shall in each case be ten-sixths (10/6ths) of the respective amounts mentioned, in lieu of ten-sevenths (10/7ths). 
 (b) Notwithstanding the provisions of Section 3(a) of Article VIII of the Original Indenture, no moneys received by the Trustee pursuant to Section 5(a) of Article III of the Original Indenture
shall be paid over by the Trustee in an amount in excess of sixty percent (60%) of the net bondable value of property additions not subject to an unfunded prior lien, and for the purposes of Section 3 of Article VII of the Original
Indenture, the amount of cash required to be deposited by the Company pursuant to Subsection (d) of said Section 3 of Article VII shall not be reduced in an amount in excess of sixty percent (60%) of the net bondable value of
property additions not subject to an unfunded prior lien. 
 (c) For the purposes of clauses (c) and (d) of the
definition of “net bondable value of property additions subject to an unfunded prior lien,” contained in Article I of the Original Indenture, and Subsection 7 of clause (a) of Section 4 of Article III of the Original Indenture,
in all computations made with respect to a period subsequent to April 1, 1949, the deductions therein referred to shall in each case be ten-sixths (10/6ths) of the respective amounts mentioned, in lieu of ten-sevenths (10/7ths).

  
 24 

 (d) Subsection (a) of Section 14, clauses (1) and (2) of
Subsection (a) of Section 16 of Article IV and clause (1) of Subsection (b) of Section 1 of Article XII of the Original Indenture shall be deemed amended by substituting the words “sixty percent (60%)” for
“seventy percent (70%)” where they appear in said provisions of the Original Indenture. 
 (e) The definition of the
term “net earnings available for interest, depreciation and property retirement,” as contained in Article I of the Original Indenture, shall be deemed to mean the net earnings of the Company ascertained as follows: 

(i) The total operating revenues of the Company and the net non-operating revenues of the properties of the Company shall
be ascertained: 
 (A) From the total, determined as provided in Subsection (a), there shall be deducted all
operating expenses, including all salaries, rentals, insurance, license and franchise fees, expenditures for repairs and maintenance, taxes (other than income, excess profits and other taxes measured by or dependent on net taxable income),
depreciation as shown on the books of the Company or an amount equal to the minimum provision for depreciation as hereinafter defined, whichever is greater, but excluding all property retirement appropriations, all interest and sinking fund charges,
amortization of stock and debt discount and expense or premium and further excluding any charges to income or otherwise for the amortization of plant or property accounts or of amounts transferred therefrom. 

(B) The balance remaining after the deduction of the total amount computed pursuant to Subsection (b) from the total
amount computed pursuant to Subsection (a) shall constitute the “net earnings of the Company available for interest,” provided that not more than fifteen percent (15%) of the net earnings of the Company available for
interest may consist of the aggregate of (1) net non-operating income, (2) net earnings from mortgaged property other than property of the character of property additions and (3) net earnings from property not subject to the lien of
this Indenture. 
 (C) No income received or accrued by the Company from securities and no profits or losses of
capital assets shall be included in making the computations aforesaid. 

  
 25 

 (D) In case the Company shall have acquired any acquired plant or systems or
shall have been consolidated or merged with any other corporation, within or after the particular period for which the calculation of net earnings of the Company available for interest, depreciation and property retirement is made, then, in
computing the net earnings of the Company available for interest, depreciation and property retirement, there may be included, to the extent they may not have been otherwise included, the net earnings or net losses of such acquired plant or system
or of such other corporation, as the case may be, for the whole of such period. The net earnings or net losses of such property additions, or of such other corporation for the period preceding such acquisition or such consolidation or merger, shall
be ascertained and computed as provided in the foregoing subsections of this definition as if such acquired plant or system had been owned by the Company during the whole of such period, or as if such other corporation had been consolidated or
merged with the Company prior to the first day of such period. 
 (E) In case the Company shall have obtained the
release of any property pursuant to Section 3 of Article VII of the Original Indenture, of a fair value in excess of Five Hundred Thousand Dollars ($500,000), as shown by the engineer’s certificate required by said Section 3, or
shall have obtained the release of any property pursuant to Section 5 of Article VII of the Original Indenture, the proceeds of which shall have exceeded Five Hundred Thousand Dollars ($500,000), within or after the particular period for
which the calculation of net earnings of the Company available for interest, depreciation and property retirement is made, then, in computing the net earnings of the Company available for interest, depreciation and property retirement, the net
earnings or net losses of such property for the whole of such period shall be excluded to the extent practicable on the basis of actual earnings and expenses of such property or on the basis of such estimates of the earnings and expenses of such
property as the signers of an officers’ certificate filed with the Trustee pursuant to Section 3(b) of Article III or Section 16 of Article IV of the Original Indenture shall deem proper. 

(ii) The term “minimum charge for depreciation” as used herein shall mean an amount equal to
(A) fifteen percent (15%) of the total operating revenues of the Company after deducting therefrom an amount equal to the aggregate cost to the Company of electric energy, gas and water purchased for resale to others and rentals paid for,
or other payments made for the use of, property owned by others and leased to or operated by the Company, the maintenance of which and depreciation on which are borne by the owners, less (B) an amount equal to the expenditures for maintenance
and repairs to the plants and property of the Company and included or reflected in its operating expense accounts. 

  
 26 

 (iii) The terms “net earnings available for interest, depreciation
and property retirement” and “net earnings of another corporation available for interest, depreciation and property retirement” as contained in Article I of the Original Indenture, when used with respect to any property or
with respect to another corporation, shall mean the net earnings of such property or the net earnings of such other corporation, as the case may be, computed in the manner provided in Subsections (a), (b), (c) and (d) hereof. 

(f) Notwithstanding the provisions of clauses (1) and (2) of Subsection (b) of Section 3 of Article III, and
Subsection (b) of Section 14 of Article IV, and Subsection (b) of Section 16 of Article IV and clause (2) of Subsection (b) of Section 1 of Article XII of the Original Indenture, the computation of net
earnings required therein shall be made as provided in Subsection (e) of this Section 1, and the net earnings tests required in said mentioned provisions of Articles III, IV and XII of the Original Indenture shall be based on two times the
annual interest charges described in such provisions, instead of two and one-half times such charges, but shall not otherwise affect such provisions or relieve from the requirements therein pertaining to ten
percent (10%) of the principal amount of Bonds therein described. 
 Section 2. Facsimile Signatures. All of
the Bonds of the 4.625% Series due 2043 and of any series initially issued after the initial issuance of Bonds of the 4.625% Series due 2043 shall, from time to time, be executed on behalf of the Company by its Chairman of the Board, Chief Executive
Officer, President or one of its Vice Presidents whose signature, notwithstanding the provisions of Section 12 of Article II of the Original Indenture, may be by facsimile, and its corporate seal (which may be in facsimile) shall be thereunto
affixed and attested by its Secretary or one of its Assistant Secretaries whose signature, notwithstanding the provisions of the aforesaid Section 12, may be by facsimile. 

In case any of the officers who have signed or sealed any of the Bonds of the 4.625% Series due 2043 or of any series initially issued
after the initial issuance of Bonds of the 4.625% Series due 2043 manually or by facsimile shall cease to be such officers of the Company before such Bonds so signed and sealed shall have been actually authenticated by the Trustee or delivered by
the Company, such Bonds nevertheless may be authenticated, issued and delivered with the same force and effect as though the person or persons who so signed or sealed such Bonds had not ceased to be such officer or officers of the Company; and also
any such Bonds may be signed or sealed by manual or facsimile signature on behalf of the Company by such persons as at the actual date of the execution of any of such Bonds shall be the proper officers of the Company, although at the nominal date of
any such Bond any such person shall not have been such officer of the Company. 

  
 27 

 Section 3. Reservation of Right to Amend Article VII. The Company reserves the
right subject to appropriate corporate action, but without the consent or other action of holders of bonds of any series created after January 1, 1997, to make such amendments to the Original Indenture, as supplemented, as shall be necessary in
order to amend Article VII thereof by adding thereto a Section 8 and a Section 9 to read as follows: 

“SECTION 8. Notwithstanding any other provision of this Indenture, unless an event of default shall have happened and
be continuing, or shall happen as a result of the making or granting of an application to release mortgaged property permitted by this Section 8, the Trustee shall release from the lien of this Indenture any mortgaged property if the fair value
to the Company of all of the property constituting the trust estate (excluding the mortgaged property to be released but including any mortgaged property to be acquired by the Company with the proceeds of, or otherwise in connection with, such
release) equals or exceeds an amount equal to 10/7ths of the aggregate principal amount of outstanding Bonds and prior lien bonds outstanding at the time of such release, upon receipt by the Trustee of: 

“(a) an officers’ certificate dated the date of such release, requesting such release, describing in reasonable
detail the mortgaged property to be released and stating the reason for such release; 
 “(b) an
engineer’s certificate, dated the date of such release, stating (i) that the signer of such engineer’s certificate has examined such officers’ certificate in connection with such release, (ii) the fair value to the Company,
in the opinion of the signer of such engineer’s certificate, of (A) all of the property constituting the trust estate, and (B) the mortgaged property to be released, in each case as of a date not more than 90 days prior to the date of
such release, and (iii) that in the opinion of such signer, such release will not impair the security under this Indenture in contravention of the provisions hereof; 

“(c) in case any bondable property is being acquired by the Company with the proceeds of, or otherwise in connection
with, such release, an engineer’s certificate, dated the date of such release, as to the fair value to the Company, as of the date not more than 90 days prior to the date of such release, of the bondable property being so acquired (and if
within six months prior to the date of acquisition by the Company of the bondable property being 

  
 28 

 
so acquired, such bondable property has been used or operated by a person or persons other than the Company in a business similar to that in which it has been or is to be used or operated by the
Company, and the fair value to the Company of such bondable property, as set forth in such certificate, is not less than $25,000 and not less than 1% of the aggregate principal amount of Bonds at the time outstanding, such certificate shall be an
independent appraiser’s certificate); 
 “(d) an officer’s certificate, dated the date of such
release, stating the aggregate principal amount of outstanding Bonds and prior lien bonds outstanding at the time of such release, and stating that the fair value to the Company of all of the property constituting the trust estate (excluding the
mortgaged property to be released but including any bondable property to be acquired by the Company with the proceeds of, or otherwise in connection with, such release) stated on the independent appraiser’s certificate filed pursuant to
Section 8(c) equals or exceeds an amount equal to 10/7ths of such aggregate principal amount; 
 “(e)
an officers’ certificate, dated the date of such release, stating that, the Company is not, and by the making or granting of the application will not be, in default in the performance of any of the terms and covenants of this Indenture; and

 “(f) an opinion of counsel, dated the date of such release, as to compliance with conditions precedent.

 “SECTION 9. If the Company is unable to obtain, in accordance with any other Section of this Article VII,
the release from the lien of this Indenture of any property constituting part of the trust estate, unless an event of default shall have happened and be continuing, or shall happen as a result of the making or granting of an application to release
mortgaged property permitted by this Section 9, the Trustee shall release from the lien of this Indenture any mortgaged property if the fair value to the Company thereof, as shown by the engineer’s certificate filed pursuant to
Section 9(b), is less than 1/2 of 1% of the aggregate principal amount of outstanding Bonds and prior lien bonds outstanding at the time of such release, provided that the aggregate fair value to the Company of all mortgaged property released
pursuant to this Section 9, as shown by all engineer’s certificates filed pursuant to Section 9(b) in any period of 12 consecutive calendar months which includes the date of such engineer’s certificate, shall not exceed 1% of the
aggregate principal amount of the outstanding Bonds and prior lien bonds outstanding at the time of such release, upon receipt by the Trustee of: 

  
 29 

 “(a) an officers’ certificate, dated the date of such release,
requesting such release, describing in reasonable detail the mortgaged property to be released and stating the reason for such release; 
 “(b) an engineer’s certificate, dated the date of such release, stating (A) that the signer of such engineer’s certificate has examined such officers’ certificate in connection
with such release, (B) the fair value to the Company, in the opinion of the signer of such engineer’s certificate, of such mortgaged property to be released as of a date not more than 90 days prior to the date of such release, and
(C) that in the opinion of such signer such release will not impair the security under this Indenture in contravention of the provisions hereof; 
 “(c) an officers’ certificate, dated the date of such release, stating the aggregate principal amount of outstanding Bonds and prior lien bonds outstanding at the time of such release, that 1/2
of 1% of such aggregate principal amount does not exceed the fair value to the Company of the mortgaged property for which such release is applied for as shown by the engineer’s certificate referred to in Section 9(b), and that 1% of such
aggregate principal amount does not exceed the aggregate fair value to the Company of all mortgaged property released from the lien of this Indenture pursuant to this Section 9 as shown by all engineer’s certificates filed pursuant to
Section 9(b) in such period of 12 consecutive calendar months; 
 “(d) an officers’ certificate,
dated the date of such release, stating that, the Company is not, and by the making or granting of the application will not be, in default in the performance of any of the terms and covenants of this Indenture; and 

“(e) an opinion of counsel, dated the date of such release, as to compliance with conditions precedent.”

 The Company also reserves the right subject to appropriate corporate action, but without the consent or other action of
holders of Bonds of any series created after January 1, 1997 to amend, modify or delete any other provision of the Original Indenture, as supplemented, as may be necessary in order to effectuate the intents and purposes contemplated by the
foregoing Sections 8 and 9. 

  
 30 

 Section 4. Reservation of Right to Delete Certain Requirements and Conditions.
The Company reserves the right subject to appropriate corporate action, but without the consent or other action of holders of Bonds of any series created after January 1, 1997 to: 

(a) delete as a condition to the authentication of additional Bonds pursuant to Sections 4, 5 or 6 of Article III of the Original
Indenture the requirement to file or deposit with the Trustee the officers’ certificate described in Section 3(b) of Article III of the Original Indenture; 
 (b) delete as a condition to the consolidation or merger of the Company into, or sale by the Company of its property as an entirety or substantially as an entirety to another corporation the requirement
set forth in Section 1(b)(2) of Article XII of the Original Indenture; 
 (c) delete as a condition to the release of
property pursuant to Section 3 of Article VII of the Original Indenture, the requirement to obtain an independent engineer’s certificate under the circumstances set forth in Section 3(c) of Article VII; and 

(d) amend, modify or delete any other provision of the Original Indenture, as supplemented, as may be necessary in order to effectuate the
intents and purposes contemplated by this Section 4. 
 Section 5. Issuance of Variable Rate Bonds. The Company
reserves the right, subject to appropriate action, but without any consent or other action by holders of Bonds of the 4.625% Series due 2043, or of any subsequent series of bonds, to clarify the ability of the Company to issue variable rate bonds
under the Original Indenture, notwithstanding any provision of the Original Indenture to the contrary. The Company may make such other amendments to the Original Indenture as may be necessary or desirable in the opinion of the Company to effect the
foregoing. 
 Section 6. Substitution of Bonds. The Company reserves the right, subject to appropriate
action, but without any consent or other action by holders of Bonds of the 4.625% Series due 2043, or of any subsequent series of bonds, to amend the Original Indenture as may be necessary in order to permit the Company to deliver to the Trustee in
substitution for any bonds issued under the Original Indenture (except Bonds of the 4.625% Series due 2043, which are subject to Article III, Section 2 hereof), mortgage bonds or other similar instruments of the Company or any successor entity,
whether by merger, combination or acquisition of all or substantially all of the assets of the Company, or otherwise, issued under a mortgage and deed of trust or similar instrument of the Company or any successor entity in like principal amount of
like term and bearing the same rate of interest as the original bonds (such substituted bonds hereinafter being referred to as the “Substituted Mortgage Bonds”). The Substituted Mortgage Bonds may only be delivered to the Trustee
upon receipt by the Trustee of (i) if the original bonds were rated by Moody’s, a letter from Moody’s, dated within ten days prior to the 

  
 31 

 
date of delivery of the Substituted Mortgage Bonds, stating that its rating of the Substituted Mortgage Bonds is at least equal to its then current rating on the original bonds, (ii) if the
original bonds were rated by S&P, a letter from S&P, dated within ten days prior to the date of delivery of the Substituted Mortgage Bonds, stating that its rating to the Substituted Mortgage Bonds is at least equal to its then current
rating on the original bonds, (iii) if the original bonds were rated by Fitch, a letter from Fitch, dated within ten days prior to the date of delivery of the Substituted Mortgage Bonds, stating that its rating to the Substituted Mortgage Bonds
is at least equal to its then current rating on the original bonds (iv) an opinion of counsel which may be counsel to the Company or any successor entity, to the effect that the Substituted Mortgage Bonds shall have been duly and validly
authorized, executed, authenticated, and delivered and shall constitute the valid, legally binding and enforceable obligations of the Company or any successor entity enforceable in accordance with their terms, except as limited by bankruptcy,
insolvency or other laws affecting the enforcement of mortgagees’ and other creditors’ rights and shall be entitled to the benefit of the mortgage and deed of trust or other similar instrument pursuant to which they shall have been issued
and (v) such other certificates and documents with respect to the issuance and delivery of the Substituted Mortgage Bonds as may be required by law or as the Trustee may reasonably request. The Company may make such other amendments to the
Original Indenture as may be necessary or desirable in the opinion of the Company to effect the foregoing. 
 Section 7.
Addition of a Governing Law Clause. The Company reserves the right, subject to appropriate action, but without any consent or other action by holders of Bonds of the 4.625% Series due 2043, or of any subsequent series of bonds, to amend
the Original Indenture to add the following new section: 
 “This Indenture shall be deemed to be a contract
made under the laws of the State of Kansas and for all purposes shall be construed in accordance with the laws of the State of Kansas, without regard to conflicts of laws principles thereof.” 

Section 8. Event of Default for Failure to Pay Final Judgments in Excess of $100,000. The Company reserves the right, subject
to appropriate action, but without any consent or other action by holders of Bonds of the 4.625% Series due 2043, or of any subsequent series of bonds, to amend the Original Indenture to delete Article IX, Section 1(j). The Company may make
such other amendments to the Original Indenture as may be necessary or desirable in the opinion of the Company to effect the foregoing. 
 Section 9. Net Earnings Test in Connection with Property Acquisitions. The Company reserves the right, subject to appropriate action, but without any consent or other action by holders of
Bonds of the 4.625% Series due 2043, or of any subsequent series of bonds, to amend the Original Indenture to delete Article IV, Section 14(b) and reserves the right to further amend, modify or delete any other provision of the Original
Indenture, as supplemented, as may be necessary in order to effectuate the intents and purposes contemplated by this Section 9. 

  
 32 

 Section 10. Addition of Nuclear Fuel. The Company reserves the right,
subject to appropriate action, but without any consent or other action by holders of Bonds of the 4.625% Series due 2043, or of any subsequent series of bonds, to amend the Original Indenture to (i) add Nuclear Fuel to the definition of
“Property Additions”; provided that there shall be no restrictions under the Original Indenture on the application of any controls, liens, regulations, easements, restrictions, exceptions or reservations by any governmental
authority on the Nuclear Fuel, (ii) to allow the Company to at any time, unless the Company is in default in the payment of the interest on any of the bonds then outstanding or there is an ongoing event of default without any release or consent
by, or report to, the Trustee, sell or otherwise dispose of, free from the lien of the Original Indenture, any Nuclear Fuel which shall have become old, inadequate, obsolete, worn out, unfit, unadapted, unserviceable, undesirable or unnecessary for
use in the operations of the Company upon the replacement or substitution of such Nuclear Fuel with other Nuclear Fuel of at least equal value and subject to the lien of the Original Indenture and (iii) to further amend, modify or delete any
other provision of the Original Indenture, as supplemented, as may be necessary in order to effectuate the intents and purposes contemplated by this Section 10. 
 The term ‘Nuclear Fuel’ shall mean (a) any fuel element, including nuclear fuel and associated means (and any similar or analogous device or substance), whether or not
classified as fuel and whether or not chargeable to operating expenses, comprising or intended to comprise, or formerly comprising, the core, or other part, of a nuclear reactor or any similar or analogous device, (b) any fuel element,
including nuclear fuel, and associated means (and any similar or analogous device or substance) while in the process of fabrication or preparation and special nuclear or other materials held for use in such fabrication or preparation, (c) any
substances or materials formerly comprising such nuclear fuel and associated means (or any similar or analogous device or substance) and which substances or materials are undergoing or have undergone reprocessing and (d) uranium, thorium,
plutonium, and any other substance or material from time to time used or selected for use by the Company as fuel material, or as potential fuel material, in a nuclear reactor or any similar or analogous device. 

Section 11. Modernization of the Original Indenture. The Company reserves the right, subject to appropriate action, but
without any consent or other action by holders of Bonds of the 4.625% Series due 2043, or of any subsequent series of bonds, to amend the Original Indenture to: 
 (i) Eliminate maintenance and improvement fund requirements; 

  
 33 

 (ii) Simplify the provisions for release of obsolete property, de minimis
property releases and substitution of property and unfunded property; 
 (iii) Permit additional terms of bonds
or forms of bond in supplemental indentures, including terms for uncertificated and global securities (or definitive securities in lieu thereof) and medium-term notes; 

(iv) Make any changes necessary to conform the Mortgage with the requirements of the Trust Indenture Act; 

(v) Add defeasance provisions providing for covenant and legal defeasance options; 

(vi) Permit the Company to remove the trustee in certain circumstances; 

(vii) Provide for direction to the trustee under the Mortgage to vote pledged prior lien bonds for specified amendments to
the prior lien mortgage; 
 (viii) Provide broader investment directions to the trustee or permitting the Company
to direct investment of money held by the Trustee, so long as there is no event of default under the Mortgage; 

(ix) Amend the definition of “Excepted Property” to exclude property which generally cannot be mortgaged without
undue administrative burden (i.e. automobiles), but allowing the Company to subject Excepted Property to the Mortgage; 
 (x) Amend the definition of “Bondable Property” to allow all mortgaged property to be bondable; and 
 (xi) Update the definition of “Permitted Liens.” 
 ARTICLE VI 

MISCELLANEOUS PROVISIONS 
 Section 1. Acceptance of Trust. The Trustee accepts the trusts herein declared, provided, created or supplemented and agrees to perform the same upon the terms and conditions herein and in the
Original Indenture, as amended, set forth and upon the following terms and conditions. 
 Section 2. Responsibility and
Duty of Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals

  
 34 

 
contained herein, all of which recitals are made by the Company solely. In general each and every term and condition contained in Article XIII of the Original Indenture, as amended by the Second
Supplemental Indenture, shall apply to and form part of this Supplemental Indenture with the same force and effect as if the same were herein set forth in full with such omissions, variations and insertions, if any, as may be appropriate to make the
same conform to the provisions of this Supplemental Indenture. 
 Section 3. Parties to Include Successors and
Assigns. Whenever in this Supplemental Indenture either of the parties hereto is named or referred to, such reference shall, subject to the provisions of Articles XII and XIII of the Original Indenture, be deemed to include the successors and
assigns of such party, and all the covenants and agreements in this Supplemental Indenture contained by or on behalf of the Company, or by or on behalf of the Trustee, shall, subject as aforesaid, bind and inure to the respective benefits of the
respective successors and assigns of such parties, whether so expressed or not. 
 Section 4. Benefits Restricted to
Parties and to Holders of Bonds and Coupons. Nothing in this Supplemental Indenture, expressed or implied, is intended or shall be construed, to confer upon, or to give to, any person, firm or corporation, other than the parties hereto and the
holders of the Bonds and coupons outstanding under the Indenture, any right, remedy or claim under or by reason of this Supplemental Indenture or any covenant, condition, stipulation, promise or agreement hereof, and all the covenants, conditions,
stipulations, promises and agreements in this Supplemental Indenture contained by and on behalf of the Company shall be for the sole and exclusive benefit of the parties hereto, and of the holders of the Bonds and of the coupons outstanding under
the Indenture. 
 Section 5. Execution in Counterparts. This Supplemental Indenture may be executed in several
counterparts, and all such counterparts executed and delivered, each as an original, shall constitute but one and the same instrument. 
 Section 6. Titles of Articles Not Part of the Forty-Fourth Supplemental Indenture. The Titles of the several Articles of this Supplemental Indenture shall not be deemed to be any part thereof.

  
 35 

 IN WITNESS HEREOF, WESTAR ENERGY, INC., party hereto of the first part, has caused its
corporate name to be hereunto affixed, and this instrument to be signed and sealed by its Chairman of the Board, President, Chief Executive Officer or a Vice President, and its corporate seal to be attested by its Secretary or an Assistant Secretary
for and in its behalf, and The Bank of New York Mellon Trust Company, N.A., party hereto of the second part, has caused its corporate name to be hereunto affixed, and this instrument to be signed and sealed by its duly authorized officer and its
corporate seal to be attested by its duly authorized officer, all as of the day and year first above written. 
 (CORPORATE SEAL) 

 

			
	WESTAR ENERGY, INC.
		
	By:	 	  

		 	 Anthony D. Somma
 Senior
Vice President,
 Chief Financial Officer and Treasurer

 

			
	 ATTEST:

		
	 By:
	 	  

		 	 Larry D. Irick,
 Vice
President,
 General Counsel and Corporate Secretary

  

			
	 Executed, sealed and delivered by WESTAR ENERGY, INC. in the presence of:

		
	By:	 	  

		
	By:	 	  

 

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

		
	By:	 	  

		 	Lawrence Dillard, Vice President

  

			
	ATTEST:
		
	By:	 	  

		 	R. Tarnas, Vice President            

  

			
	 Executed, sealed and delivered by THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. in the presence
of:

		
	By:	 	  

		 	Emily Gigerich
		
	By:	 	  

		 	Medita Vucic

			
	STATE OF KANSAS	  	)
		  	: ss.:
	COUNTY OF SHAWNEE	  	)

 BE IT REMEMBERED, that on this
            day of August, 2013, before me, the undersigned, a Notary Public within and for the County and State aforesaid, personally came Anthony D. Somma and Larry D. Irick, of Westar
Energy, Inc., a corporation duly organized, incorporated and existing under the laws of the State of Kansas, who are personally known to me to be such officers, and who are personally known to me to be the same persons who executed as such officers
the within instrument of writing, and such persons duly acknowledged the execution of the same to be the act and deed of said corporation. 
 IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the day and year last above written. 

 

	
	  

	 Notary Public
 My Commission Expires                    

  
 S-2

			
	STATE OF ILLINOIS	  	)
		  	: ss.:
	COUNTY OF COOK	  	)

 BE IT REMEMBERED, that on this
            day of August, 2013, before me, the undersigned, a Notary Public within and for the County and State aforesaid, personally came Lawrence Dillard and R. Tarnas, of The Bank of
New York Mellon Trust Company, N.A., a national banking association, who are personally known to me to be such officers, and who are personally known to me to be the same persons who executed as such officers the within instrument of writing, and
such persons duly acknowledged the execution of the same to be the act and deed of said corporation. 
  

	
	  

	 Notary Public
 My Commission Expires                    

  
 S-3

			
	STATE OF KANSAS	  	)
		  	: ss.:
	COUNTY OF SHAWNEE	  	)

 BE IT REMEMBERED, that on this
            day of August, 2013, before me, the undersigned, a Notary Public within and for the County and State aforesaid, personally came Anthony D. Somma, and Larry D. Irick, of Westar
Energy, Inc., a corporation duly organized, incorporated and existing under the laws of the State of Kansas, who are personally known to me to be such officers, being by me respectively duly sworn, did each say that the said Anthony D. Somma is
Senior Vice President, Chief Financial Officer and Treasurer and that the said Larry D. Irick is Vice President, General Counsel and Corporate Secretary of said corporation, that the consideration of and for the foregoing instrument was actual and
adequate, that the same was made and given in good faith, for the uses and purposes therein set forth and without any intent to hinder, delay, or defraud creditors or purchasers. 

IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the day and year last above written. 

 

	
	  

	 Notary Public
 My Commission Expires                    

  
 S-4

 APPENDIX A 
 to 
 FORTY-FOURTH SUPPLEMENTAL INDENTURE 

Dated as of August 19, 2013 
 Westar Energy, Inc. 
 to 

The Bank of New York Mellon Trust Company, N.A. 
 (as successor to 
 Harris Trust and Savings Bank) 

 
  

DESCRIPTION OF PROPERTIES 
 LOCATED IN THE STATE OF KANSAS 
 FIRST 

PARCELS OF REAL ESTATE 
  

 
 SHAWNEE
COUNTY 
 A tract of land located in the Northwest Quarter of Section 13, Township 11 South, Range 15 East of the
6th P. M. in Shawnee County, Kansas, described as follows:

 Commencing at the Northwest corner of the East half of said Northwest Quarter; thence on an assumed bearing of South 01°25’50”
East on the West line of said Northwest Quarter, a distance of 660.65 feet; thence North 88°34’10” East, a distance of 20.00 feet to the point of beginning; thence North 88°34’10” East a distance of 590.00 feet; thence
South 01°25’50” East, a distance of 550.00 feet; thence South 88°34’10” West, a distance of 590.00 feet; thence North 01°25’50” West, a distance of 550.00 feet to the point of beginning 

 RENO COUNTY 

The South Half of the Northwest Quarter of Section 29, Township 22 South, Range 4 West of the 6th P.M., Reno County, Kansas 

  
 2EX-4.3

 Exhibit 4.3 
 FRANK’S INTERNATIONAL N.V. 
 2013 LONG-TERM INCENTIVE PLAN

 TABLE OF CONTENTS 

 
  

									
	 	 	 	 	 	  	Page	 
	 1.
	 	Purpose	  	 	1	  
			
	 2.
	 	Definitions	  	 	1	  
			
	 3.
	 	Administration	  	 	5	  
		 	 (a)
	 	Authority of the Committee	  	 	5	  
		 	 (b)
	 	Manner of Exercise of Committee Authority	  	 	6	  
		 	 (c)
	 	Limitation of Liability	  	 	7	  
			
	 4.
	 	Stock Subject to Plan	  	 	7	  
		 	 (a)
	 	Overall Number of Shares Available for Delivery	  	 	7	  
		 	 (b)
	 	Application of Limitation to Grants of Awards	  	 	7	  
		 	 (c)
	 	Availability of Shares Not Issued under Awards	  	 	7	  
		 	 (d)
	 	Stock Offered	  	 	7	  
			
	 5.
	 	Eligibility; Per Person Award Limitations	  	 	7	  
			
	 6.
	 	Specific Terms of Awards	  	 	8	  
		 	 (a)
	 	General	  	 	8	  
		 	 (b)
	 	Options	  	 	8	  
		 	 (c)
	 	Stock Appreciation Rights	  	 	9	  
		 	 (d)
	 	Restricted Stock	  	 	10	  
		 	 (e)
	 	Restricted Stock Units	  	 	11	  
		 	 (f)
	 	Bonus Stock and Awards in Lieu of Obligations	  	 	12	  
		 	 (g)
	 	Dividend Equivalents	  	 	12	  
		 	 (h)
	 	Other Awards	  	 	12	  
			
	 7.
	 	Certain Provisions Applicable to Awards	  	 	13	  
		 	 (a)
	 	Termination of Employment	  	 	13	  
		 	 (b)
	 	Stand-Alone, Additional, Tandem, and Substitute Awards	  	 	13	  
		 	 (c)
	 	Term of Awards	  	 	13	  
		 	 (d)
	 	Form and Timing of Payment under Awards; Deferrals	  	 	13	  
		 	 (e)
	 	Exemptions from Section 16(b) Liability	  	 	14	  
		 	 (f)
	 	Non-Competition Agreement	  	 	14	  
			
	 8.
	 	Performance and Annual Incentive Awards	  	 	14	  
		 	 (a)
	 	Performance Conditions	  	 	14	  
		 	 (b)
	 	Status of Section 8(c) and Section 8(d) Awards under Section 162(m) of the Code	  	 	14	  
		 	 (c)
	 	Performance Awards Granted to Designated Covered Employees	  	 	15	  
		 	 (d)
	 	Annual Incentive Awards Granted to Designated Covered Employees	  	 	17	  
		 	 (e)
	 	Written Determinations	  	 	18	  

  
 i 

									
			
	 9.
	 	Subdivision or Consolidation; Recapitalization; Change in Control; Reorganization	  	 	18	  
		 	(a)	  	Existence of Plans and Awards	  	 	18	  
		 	(b)	  	Subdivision or Consolidation of Shares	  	 	19	  
		 	(c)	  	Corporate Recapitalization	  	 	20	  
		 	(d)	  	Additional Issuances	  	 	20	  
		 	(e)	  	Change in Control	  	 	20	  
		 	(f)	  	Change in Control Price	  	 	21	  
		 	(g)	  	Impact of Corporate Events on Awards Generally	  	 	21	  
			
	 10.
	 	General Provisions	  	 	21	  
		 	(a)	  	Transferability	  	 	21	  
		 	(b)	  	Taxes	  	 	23	  
		 	(c)	  	Changes to this Plan and Awards	  	 	23	  
		 	(d)	  	Limitation on Rights Conferred under Plan	  	 	23	  
		 	(e)	  	Unfunded Status of Awards	  	 	24	  
		 	(f)	  	Nonexclusivity of this Plan	  	 	24	  
		 	(g)	  	Fractional Shares	  	 	24	  
		 	(h)	  	Severability	  	 	24	  
		 	(i)	  	Governing Law	  	 	24	  
		 	(j)	  	Conditions to Delivery of Stock	  	 	25	  
		 	(k)	  	Section 409A of the Code	  	 	25	  
		 	(l)	  	Clawback	  	 	25	  
		 	(m)	  	Plan Effective Date and Term	  	 	25	  

  
 ii 

 FRANK’S INTERNATIONAL N.V. 

2013 Long-Term Incentive Plan 
 1. Purpose. The purpose of the Frank’s International N.V. 2013 Long-Term Incentive Plan (the “Plan”) is (a) to provide a means through which Frank’s
International, N.V., a limited liability company organized in the Netherlands (the “Company”), and its Subsidiaries may attract and retain able persons as employees, directors, and consultants of the Company and its
Subsidiaries, and (b) to provide a means whereby those persons upon whom the responsibilities for the successful administration and management of the Company and its Subsidiaries rest, and whose present and potential contributions to the
welfare of the Company and its Subsidiaries are of importance, can acquire and maintain stock ownership, or awards the value of which is tied to the performance of the Company, thereby strengthening such persons’ concern for the welfare of the
Company and its Subsidiaries and their desire to remain employed. A further purpose of this Plan is to provide such employees, directors, and consultants with additional incentive and reward opportunities designed to enhance the profitable growth of
the Company. Accordingly, this Plan primarily provides for the granting of Incentive Stock Options, options which do not constitute Incentive Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Dividend Equivalents,
Bonus Stock, Other Stock-Based Awards, Annual Incentive Awards, Performance Awards, or any combination of the foregoing, as is best suited to the circumstances of the particular individual as provided herein. 

2. Definitions. For purposes of this Plan, the following terms shall be defined as set forth below, in addition to such
terms defined in Section 1 hereof: 
 (a) “Annual Incentive Award” means a conditional right
granted to an Eligible Person under Section 8(d) hereof to receive a cash payment, Stock, or other Award, unless otherwise determined by the Committee, after the end of a specified year. 

(b) “Award” means any Option, SAR, Restricted Stock, Restricted Stock Unit, Bonus Stock, Dividend Equivalent,
Other Stock-Based Award, Performance Award, or Annual Incentive Award, together with any other right or interest granted to a Participant under this Plan. 
 (c) “Beneficiary” means one or more persons, trusts, or other entities which have been designated by a Participant, in his or her most recent written beneficiary designation filed
with the Committee, to receive the benefits specified under this Plan upon such Participant’s death or to which Awards or other rights are transferred if and to the extent permitted under Section 10(a) hereof. If, upon a Participant’s
death, there is no designated Beneficiary or surviving designated Beneficiary, then the term “Beneficiary” means the persons, trusts, or other entities entitled by will or the laws of descent and distribution to receive such benefits.

 (d) “Board” means the Company’s Supervisory Board, or such other board that may serve as the
Company’s single Board of Directors. 
 (e) “Bonus Stock” means Stock granted as a bonus pursuant to
Section 6(f). 

  
 1 

 (f) “Change in Control” means, except as otherwise provided in an
Award Agreement, the occurrence of any of the following events: 
 (i) The consummation of an agreement to
acquire, or a tender offer for beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) by any Person of, 50% or more of either (x) the then outstanding shares of Stock (the “Outstanding
Stock”) or (y) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”);
provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change in Control: (A) any acquisition directly from the Company, (B) any acquisition by the Company, (C) any
acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company, or (D) any acquisition by any entity pursuant to a transaction that complies with clauses (A), (B), and
(C) of paragraph (iii) below; 
 (ii) Individuals who constitute the Incumbent Board cease for any reason to
constitute at least a majority of the Board; 
 (iii) Consummation of a reorganization, merger, or consolidation or sale or
other disposition of all or substantially all of the assets of the Company, or an acquisition of assets of another entity (a “Business Combination”), in each case, unless, following such Business Combination, (A) the
Outstanding Stock and Outstanding Company Voting Securities immediately prior to such Business Combination represent or are converted into or exchanged for securities which represent or are convertible into more than 50% of, respectively, the then
outstanding shares of common stock or common equity interests and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors or other governing body, as the case may be, of the entity
resulting from such Business Combination (including, without limitation, an entity which as a result of such transaction owns the Company, or all or substantially all of the Company’s assets either directly or through one or more subsidiaries),
(B) no Person (excluding any employee benefit plan (or related trust) of the Company or the entity resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of
common stock or common equity interests of the entity resulting from such Business Combination or the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors or other governing body of
such entity except to the extent that such ownership results solely from ownership of the Company that existed prior to the Business Combination, and (C) at least a majority of the members of the board of directors or similar governing body of
the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

(iv) Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

Notwithstanding the foregoing, for purposes of any Award that provides for a deferral of compensation under the Nonqualified Deferred
Compensation Rules, to the extent the impact of a Change in Control on such an Award would subject a Participant to additional taxes under the 

  
 2 

 
Nonqualified Deferred Compensation Rules, a Change in Control for purposes of such Award will mean a Change in Control that is also a “change in the ownership or effective control of a
corporation, or a change in the ownership of a substantial portion of the assets of a corporation” within the meaning of the Nonqualified Deferred Compensation Rules. 
 (g) “Code” means the Internal Revenue Code of 1986, as amended from time to time, including regulations thereunder and successor provisions and regulations
thereto. 
 (h) “Committee” means a committee of two or more directors of the
Board and/or of the Company’s Management Board designated by the Board to administer this Plan; provided, however, that, unless otherwise determined by the Board, the Committee shall consist solely of two or more directors, each
of whom shall be a Qualified Member (except to the extent administration of this Plan by “outside directors” is not then required in order to qualify for tax deductibility under section 162(m) of the Code, but only applying this exception
for purposes of an Award’s compliance with section 162(m) of the Code). 
 (i) “Covered
Employee” means an Eligible Person who is a Covered Employee as specified in Section 8(b) of this Plan. 

(j) “Dividend Equivalent” means a right, granted to an Eligible Person under Section 6(g), to
receive cash, Stock, other Awards, or other property equal in value to dividends paid with respect to a specified number of shares of Stock, or other periodic payments. 

(k) “Effective Date” means, notwithstanding the Plan’s establishment date described in
Section 10(m), the first date upon which Awards may be granted pursuant to the Plan, which date shall be immediately prior to the closing of the initial public offering of the Company, which is August 14, 2013. 

(l) “Eligible Person” means all officers and employees of the Company or of any of its Subsidiaries,
and other persons who provide services to the Company or any of its Subsidiaries, including directors of the Company. An employee on a leave of absence may be considered as still in the employ of the Company or any of its Subsidiaries for purposes
of eligibility for participation in this Plan. 
 (m) “Exchange Act” means
the Securities Exchange Act of 1934, as amended from time to time, including rules thereunder and successor provisions and rules thereto. 
 (n) “Fair Market Value” means, as of any specified date, (i) if the Stock is listed on a national securities exchange, the closing sales price of the Stock, as
reported on the stock exchange composite tape on the immediately preceding date (or if no sales occur on that date, on the last preceding date on which such sales of the Stock are so reported); (ii) if the Stock is not traded on a national
securities exchange but is traded over the counter at the time a determination of its fair market value is required to be made under the Plan, the average between the reported high and low bid and asked prices of Stock on the most recently preceding
date on which Stock was publicly traded; (iii) in the event Stock is not publicly traded at the time a determination of its value is required to be made under the Plan, the amount determined by the Committee in its discretion in such manner as
it deems appropriate, taking into account all factors the Committee deems appropriate, including, without limitation, the Nonqualified Deferred Compensation Rules; or (iv) on the date of a Qualifying Public Offering of Stock, the offering price
under such Qualifying Public Offering. 

  
 3 

 (o) “Incentive Stock Option” or
“ISO” means any Option intended to be and designated as an incentive stock option within the meaning of section 422 of the Code or any successor provision thereto. 

(p) “Incumbent Board” means the portion of the Board constituted of the individuals who are members
of the Board as of the Effective Date and any other individual who becomes a director of the Board after the Effective Date and whose election or appointment by the Board or nomination for election by the Company’s stockholders was approved by
a vote of at least a majority of the directors then comprising the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect
to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Incumbent Board. 

(q) “Nonqualified Deferred Compensation Rules” means the limitations or requirements of section 409A
of the Code and the guidance and regulations promulgated thereunder. 
 (r)
“Option” means a right, granted to an Eligible Person under Section 6(b) hereof, to purchase Stock or other Awards at a specified price during specified time periods. 

(s) “Other Stock-Based Awards” means Awards granted to an Eligible Person under Section 6(h) hereof.

 (t) “Participant” means a person who has been granted an Award under this Plan which
remains outstanding, including a person who is no longer an Eligible Person. 
 (u)
“Performance Award” means a right, granted to an Eligible Person under Section 8 hereof, to receive Awards based upon performance criteria specified by the Committee. 

(v) “Performance Based Compensation” means compensation that is intended by the Committee to
constitute “performance-based compensation” within the meaning of section 162(m) of the Code and regulations thereunder. 
 (w) “Person” means any person or entity of any nature whatsoever, specifically including an individual, a firm, a company, a corporation, a partnership, a limited
liability company, a trust, or other entity; a Person, together with that Person’s Affiliates and Associates (as those terms are defined in Rule 12b-2 under the Exchange Act, provided that “registrant” as used in Rule 12b-2 shall mean
the Company), and any Persons acting as a partnership, limited partnership, joint venture, association, syndicate, or other group (whether or not formally organized), or otherwise acting jointly or in concert or in a coordinated or consciously
parallel manner (whether or not pursuant to any express agreement), for the purpose of acquiring, holding, voting, or disposing of securities of the Company with such Person, shall be deemed a single “Person.” 

  
 4 

 (x) “Qualifying Public Offering” means a firm
commitment underwritten public offering of Stock for cash, where the shares of Stock registered under the Securities Act are listed on a national securities exchange. 

(y) “Qualified Member” means a member of the Committee who is a “nonemployee director”
within the meaning of Rule 16b-3(b)(3) and an “outside director” within the meaning of Treasury Regulation 1.162-27 under section 162(m) of the Code. 
 (z) “Restricted Stock” means Stock granted to an Eligible Person under Section 6(d) hereof, that is subject to certain restrictions and to a risk of
forfeiture. 
 (aa) “Restricted Stock Unit” means a right, granted to an
Eligible Person under Section 6(e) hereof, to receive Stock, cash, or a combination thereof at the end of a specified deferral period. 
 (bb) “Rule 16b-3” means Rule 16b-3, promulgated by the Securities and Exchange Commission under section 16 of the Exchange Act, as from time to time in effect and
applicable to this Plan and Participants. 
 (cc) “Securities Act” means the
Securities Act of 1933 and the rules and regulations promulgated thereunder, or any successor law, as it may be amended from time to time. 
 (dd) “Stock” means the Company’s Common Stock, par value €0.01 per share, and such other securities as may be substituted (or resubstituted) for Stock
pursuant to Section 9. 
 (ee) “Stock Appreciation Right” or “SAR”
means a right granted to an Eligible Person under Section 6(c) hereof. 
 (ff)
“Subsidiary” means with respect to the Company, any corporation or other entity of which a majority of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by the
Company. 
 3. Administration.  

(a) Authority of the Committee. This Plan shall be administered by the Committee except to the extent the Board elects to
administer this Plan, in which case references herein to the “Committee” shall be deemed to include references to the “Board.” Subject to the express provisions of the Plan and Rule 16b-3, the Committee shall have the authority,
in its sole and absolute discretion, to (i) adopt, amend, and rescind administrative and interpretive rules and regulations relating to the Plan; (ii) determine the Eligible Persons to whom, and the time or times at which, Awards shall be
granted; (iii) determine the amount of cash and/or the number of shares of Stock, Stock Appreciation Rights, Restricted Stock Units, Restricted Stock, Dividend Equivalents, Bonus Stock, Other Stock-Based Awards, Annual Incentive Awards,
Performance Awards, as applicable, or any combination thereof, that shall be the subject of each Award; (iv) determine the terms and provisions of each Award agreement (which need not be identical), including provisions defining or otherwise
relating to (A) the term and the period or periods and extent of exercisability of any Options, (B) the extent to which the transferability of shares of 

  
 5 

 
Stock issued or transferred pursuant to any Award is restricted, (C) except as otherwise provided herein, the effect on the Award of a Participant’s termination of employment or service
relationship with the Company, and (D) the effect of approved leaves of absence (consistent with any applicable regulations of the Internal Revenue Service); (v) accelerate the time of vesting or exercisability of any Award that has been
granted; (vi) construe the respective Award agreements and the Plan; (vii) make determinations of the Fair Market Value of the Stock pursuant to the Plan; (viii) delegate its duties under the Plan (including, but not limited to, the
authority to grant Awards) to such agents as it may appoint from time to time, provided that the Committee may not delegate its duties where such delegation would violate state or foreign corporate law, or with respect to making Awards to, or
otherwise with respect to Awards granted to, Eligible Persons who are subject to section 16(b) of the Exchange Act or who are Covered Employees receiving Awards that are intended to constitute Performance Based Compensation; (ix) subject to
Section 10(f), terminate, modify, or amend the Plan; and (x) make all other determinations, perform all other acts, and exercise all other powers and authority necessary or advisable for administering the Plan, including the delegation of
those ministerial acts and responsibilities as the Committee deems appropriate. Subject to Rule 16b-3 and section 162(m) of the Code, the Committee may correct any defect, supply any omission, or reconcile any inconsistency in the Plan, in any
Award, or in any Award agreement in the manner and to the extent it deems necessary or desirable to carry the Plan into effect, and the Committee shall be the sole and final judge of that necessity or desirability. The determinations of the
Committee on the matters referred to in this Section 3(a) shall be final and conclusive. 
 (b) Manner of Exercise of
Committee Authority. At any time that a member of the Committee is not a Qualified Member, any action of the Committee relating to an Award (i) granted or to be granted to an Eligible Person who is then subject to section 16 of the Exchange
Act in respect of the Company or (ii) relating to an Award intended intended by the Committee to qualify as Performance Based Compensation, may be taken either (a) by the full Board but only for purposes of actions relating to Awards
described in clause (i) of this Section 3(b) but not relating to Awards described in clause (ii), (b) by a subcommittee, designated by the Committee, composed solely of two or more Qualified Members, or (c) by the Committee but
with each such member who is not a Qualified Member abstaining or recusing himself or herself from such action; provided, however, that, upon such abstention or recusal, the Committee remains composed solely of two or more Qualified
Members. Such action, authorized by such a subcommittee, by the full Board (or if required for purposes of the exemption under Rule 16b-3(d)(1), the full Board, including both the Company’s Supervisory Board and Management Board), or by the
Committee upon the abstention or recusal of such non-Qualified Member(s), as applicable, shall be the action of the Committee for purposes of this Plan. Any action of the Committee shall be final, conclusive, and binding on all Persons, including
the Company, its Subsidiaries, stockholders, Participants, Beneficiaries, and transferees under Section 10(a) hereof or other persons claiming rights from or through a Participant. The express grant of any specific power to the Committee, and
the taking of any action by the Committee, shall not be construed as limiting any power or authority of the Committee. The Committee may delegate to officers or managers of the Company or any of its Subsidiaries, or committees thereof, the
authority, subject to such terms as the Committee shall determine, to perform such functions, including administrative functions, as the Committee may determine, to the extent that such delegation will not result in the loss of an exemption under
Rule 16b-3(d)(1) for Awards granted to Participants subject to section 16 of the Exchange Act in respect of the Company and will not cause Awards intended to qualify as Performance Based Compensation to fail to so qualify. The Committee may appoint
agents to assist it in administering the Plan. 

  
 6 

 (c) Limitation of Liability. The Committee and each member thereof shall be entitled
to, in good faith, rely or act upon any report or other information furnished to him or her by any officer or employee of the Company or any of its Subsidiaries, the Company’s legal counsel, independent auditors, consultants, or any other
agents assisting in the administration of this Plan. Members of the Committee and any officer or employee of the Company or any of its Subsidiaries acting at the direction of or on behalf of the Committee shall not be personally liable for any
action or determination taken or made in good faith with respect to this Plan and shall, to the fullest extent permitted by law, be indemnified and held harmless by the Company with respect to any such action or determination. 

4. Stock Subject to Plan.  
 (a) Overall Number of Shares Available for Delivery. Subject to adjustment in a manner consistent with any adjustment made pursuant to Section 9, the total number of shares of Stock reserved
and available for issuance in connection with Awards under this Plan shall not exceed 20,000,000 shares, and such total will be available for the issuance of Incentive Stock Options. 

(b) Application of Limitation to Grants of Awards. No Award may be granted if the number of shares of Stock to be delivered in
connection with such Award exceeds the number of shares of Stock remaining available under this Plan, minus the number of shares of Stock issuable in settlement of or relating to then-outstanding Awards. The Committee may adopt reasonable counting
procedures to ensure appropriate counting, avoid double-counting (as, for example, in the case of tandem or substitute awards), and make adjustments if the number of shares of Stock actually delivered differs from the number of shares previously
counted in connection with an Award. 
 (c) Availability of Shares Not Issued under Awards. Shares of Stock subject to an
Award under this Plan that expire or are canceled, forfeited, exchanged, settled in cash, or otherwise terminated, including (i) shares forfeited with respect to Restricted Stock, (ii) the number of shares withheld in payment of any
exercise or purchase price of an Award or taxes relating to Awards, and (iii) the number of shares surrendered in payment of any exercise or purchase price of an Award or taxes relating to any Award, will again be available for Awards under
this Plan, except that if any such shares could not again be available for Awards to a particular Participant under any applicable law or regulation, such shares shall be available exclusively for Awards to Participants who are not subject to such
limitation. 
 (d) Stock Offered. The shares to be delivered under the Plan shall be made available from
(i) authorized but unissued shares of Stock, (ii) Stock held in the treasury of the Company, or (iii) previously issued shares of Stock reacquired by the Company, including shares purchased on the open market. 

  
 7 

 5. Eligibility; Per Person Award Limitations. Awards may be granted under this
Plan only to Persons who are Eligible Persons at the time of grant thereof. In each calendar year, during any part of which this Plan is in effect, a Covered Employee may not be granted, to the extent the Awards will be subject to the limitations
under section 162(m) of the Code that apply to compensation paid following the reliance period described in Treas. Reg. § 1.162-27(f), (a) Awards (other than Awards designated to be paid only in cash or the settlement of which is not based
on a number of shares of Stock) relating to more than 2,500,000 shares of Stock, subject to adjustment in a manner consistent with any adjustment made pursuant to Section 9 and (b) Awards designated to be paid only in cash, or the
settlement of which is not based on a number of shares of Stock, having a value determined on the date of grant in excess of $50,000,000.  
 6. Specific Terms of Awards.  
 (a) General. Awards may be
granted on the terms and conditions set forth in this Section 6. In addition, the Committee may impose on any Award or the exercise thereof, at the date of grant or thereafter (subject to Section 10(c)), such additional terms and
conditions, not inconsistent with the provisions of this Plan, as the Committee shall determine, including terms requiring forfeiture of Awards in the event of termination of employment by the Participant, or termination of the Participant’s
service relationship with the Company, and terms permitting a Participant to make elections relating to his or her Award. The Committee shall retain full power and discretion to accelerate, waive, or modify, at any time, any term or condition of an
Award that is not mandatory under this Plan; provided, however, that the Committee shall not have any discretion (i) to accelerate, waive, or modify any term or condition of an Award that is intended to qualify as Performance
Based Compensation if such discretion would cause the Award to not so qualify or (ii) to accelerate the terms of payment of any Award that provides for a deferral of compensation under the Nonqualified Deferred Compensation Rules if such
acceleration would subject a Participant to additional taxes under the Nonqualified Deferred Compensation Rules, in each case, unless the Committee makes an informed decision based on consultation with legal counsel to take such action and
disqualify the Award from meeting such requirements of either section 162(m) of the Code or the Nonqualified Deferred Compensation Rules due to other considerations. 
 (b) Options. The Committee is authorized to grant Options to Eligible Persons on the following terms and conditions: 
 (i) Exercise Price. Each Option agreement shall state the exercise price per share of Stock (the “Exercise Price”); provided, however, that the Exercise Price
per share of Stock subject to an Option shall not be less than the greater of (A) the par value per share of the Stock or (B) 100% of the Fair Market Value per share of the Stock as of the date of grant of the Option (or in the case of an
ISO granted to an individual who owns stock possessing more than 10 percent of the total combined voting power of all classes of stock of the Company or its parent or any subsidiary, 110% of the Fair Market Value per share of the Stock on the date
of grant). 
 (ii) Time and Method of Exercise. The Committee shall determine the time or times at which, or the
circumstances under which, an Option may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the methods by which such Exercise Price may be paid or deemed to be paid, the form
of such payment, including without limitation cash, Stock, other Awards or awards granted 

  
 8 

 
under other plans of the Company or any Subsidiary, or other property (including notes or other contractual obligations of Participants to make payment on a deferred basis), and the methods by,
or forms in which, Stock will be delivered or deemed to be delivered to Participants, including, but not limited to, the delivery of Restricted Stock subject to Section 6(d). In the case of an exercise whereby the Exercise Price is paid with
Stock, such Stock shall be valued as of the date of exercise. 
 (iii) ISOs. The terms of any ISO granted under this Plan
shall comply in all respects with the provisions of section 422 of the Code. Except as otherwise provided in Section 9, no provision of this Plan relating to ISOs (including any SAR in tandem therewith) shall be interpreted, amended or altered,
nor shall any discretion or authority granted under this Plan be exercised, so as to disqualify either this Plan or any ISO under section 422 of the Code, unless the Participant has first requested the change that will result in such
disqualification. ISOs shall not be granted more than ten years after the earlier of the adoption of this Plan or the approval of this Plan by the Company’s stockholders. Notwithstanding the foregoing, the Fair Market Value of shares of Stock
subject to an ISO and the aggregate Fair Market Value of shares of stock of any parent or subsidiary corporation (within the meaning of sections 424(e) and (f) of the Code) subject to any other ISO (within the meaning of section 422 of the
Code) of the Company or a parent or subsidiary corporation (within the meaning of sections 424(e) and (f) of the Code) that first becomes purchasable by a Participant in any calendar year may not (with respect to that Participant) exceed
$100,000, or such other amount as may be prescribed under section 422 of the Code or applicable regulations or rulings from time to time. As used in the previous sentence, Fair Market Value shall be determined as of the date the ISOs are granted.
Failure to comply with this provision shall not impair the enforceability or exercisability of any Option, but shall cause the excess amount of shares to be reclassified in accordance with the Code. 

(c) Stock Appreciation Rights. The Committee is authorized to grant SARs to Eligible Persons on the following terms and conditions:

 (i) Right to Payment. An SAR shall confer on the Participant to whom it is granted a right to receive, upon exercise
thereof, the excess of (A) the Fair Market Value of one share of Stock on the date of exercise over (B) the grant price of the SAR as determined by the Committee. 
 (ii) Rights Related to Options. An SAR granted pursuant to an Option shall entitle a Participant, upon exercise, to surrender that Option or any portion thereof, to the extent unexercised, and to
receive payment of an amount computed pursuant to Section 6(c)(ii)(B). That Option shall then cease to be exercisable to the extent surrendered. SARs granted in connection with an Option shall be subject to the terms of the Award agreement
governing the Option, which shall comply with the following provisions in addition to those applicable to Options: 
 (A) An SAR
granted in connection with an Option shall be exercisable only at such time or times and only to the extent that the related Option is exercisable and shall not be transferable except to the extent that the related Option is transferable.

  
 9 

 (B) Upon the exercise of an SAR related to an Option, a Participant shall be entitled to
receive payment from the Company of an amount determined by multiplying: 
 (1) the difference obtained by subtracting the
Exercise Price with respect to a share of Stock specified in the related Option from the Fair Market Value of a share of Stock on the date of exercise of the SAR, by 
 (2) the number of shares as to which that SAR has been exercised. 
 (iii) Right
Without Option. An SAR granted independent of an Option shall be exercisable as determined by the Committee and set forth in the Award agreement governing the SAR, which Award agreement shall comply with the following provisions: 

(A) Each Award agreement shall state the total number of shares of Stock to which the SAR relates. 

(B) Each Award agreement shall state the time or periods in which the right to exercise the SAR or a portion thereof shall vest and the
number of shares of Stock for which the right to exercise the SAR shall vest at each such time or period. 
 (C) Each Award
agreement shall state the date at which the SARs shall expire if not previously exercised. 
 (D) Each SAR shall entitle a
Participant, upon exercise thereof, to receive payment of an amount determined by multiplying: 
 (1) the difference obtained by
subtracting the Fair Market Value of a share of Stock on the date of grant of the SAR from the Fair Market Value of a share of Stock on the date of exercise of that SAR, by 
 (2) the number of shares as to which the SAR has been exercised. 
 (iv)
Terms. Except as otherwise provided herein, the Committee shall determine at the date of grant or thereafter, the time or times at which and the circumstances under which an SAR may be exercised in whole or in part (including based on
achievement of performance goals and/or future service requirements), the method of exercise, method of settlement, form of consideration payable in settlement, method by or forms in which Stock will be delivered or deemed to be delivered to
Participants, whether or not an SAR shall be in tandem or in combination with any other Award, and any other terms and conditions of any SAR. SARs may be either freestanding or in tandem with other Awards. 

(d) Restricted Stock. The Committee is authorized to grant Restricted Stock to Eligible Persons on the following terms and
conditions: 

  
 10 

 (i) Grant and Restrictions. Restricted Stock shall be subject to such restrictions
on transferability, risk of forfeiture, and other restrictions, if any, as the Committee may impose, which restrictions may lapse separately or in combination at such times, under such circumstances (including based on achievement of performance
goals and/or future service requirements), in such installments, or otherwise, as the Committee may determine at the date of grant or thereafter. During the restricted period applicable to the Restricted Stock, the Restricted Stock may not be sold,
transferred, pledged, hypothecated, margined, or otherwise encumbered by the Participant. 
 (ii) Certificates for Stock.
Restricted Stock granted under this Plan may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Stock are registered in the name of the Participant, the Committee may require that such certificates
bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock, that the Company retain physical possession of the certificates, and that the Participant deliver a stock power to the Company,
endorsed in blank, relating to the Restricted Stock. 
 (iii) Dividends and Splits. As a condition to the grant of an
Award of Restricted Stock, the Committee may require or permit a Participant to elect that any cash dividends paid on a share of Restricted Stock be automatically reinvested in additional shares of Restricted Stock, applied to the purchase of
additional Awards under this Plan, or deferred without interest to the date of vesting of the associated Award of Restricted Stock; provided, that, to the extent applicable, any such election shall comply with the Nonqualified Deferred
Compensation Rules. Unless otherwise determined by the Committee, Stock distributed in connection with a Stock split or Stock dividend, and other property (other than cash) distributed as a dividend, shall be subject to restrictions and a risk of
forfeiture to the same extent as the Restricted Stock with respect to which such Stock or other property has been distributed. 

(e) Restricted Stock Units. The Committee is authorized to grant Restricted Stock Units, which are rights to receive Stock or cash
(or a combination thereof) at the end of a specified deferral period (which may or may not be coterminous with the vesting schedule of the Award), to Eligible Persons, subject to the following terms and conditions: 

(i) Award and Restrictions. Settlement of an Award of Restricted Stock Units shall occur upon expiration of the deferral period
specified for such Restricted Stock Unit by the Committee (or, if permitted by the Committee, as elected by the Participant). In addition, Restricted Stock Units shall be subject to such restrictions (which may include a risk of forfeiture) as the
Committee may impose, if any, which restrictions may lapse at the expiration of the deferral period or at earlier specified times (including based on achievement of performance goals and/or future service requirements), separately or in combination,
in installments or otherwise, as the Committee may determine. Restricted Stock Units shall be satisfied by the delivery of cash or Stock in the amount equal to the Fair Market Value of the specified number of shares of Stock covered by the
Restricted Stock Units, or a combination thereof, as determined by the Committee at the date of grant or thereafter. 

  
 11 

 (ii) Dividend Equivalents. Unless otherwise determined by the Committee at date of
grant, Dividend Equivalents on the specified number of shares of Stock covered by an Award of Restricted Stock Units shall be either (A) paid with respect to such Restricted Stock Units on the dividend payment date in cash or in shares of
unrestricted Stock having a Fair Market Value equal to the amount of such dividends, or (B) deferred with respect to such Restricted Stock Units, and the amount or value thereof automatically deemed reinvested in additional Restricted Stock
Units (or in other Awards or other investment vehicles, as the Committee shall determine or permit the Participant to elect, but only to the extent compliant with the Nonqualified Deferred Compensation Rules). 

(f) Bonus Stock and Awards in Lieu of Obligations. The Committee is authorized to grant Stock as a bonus, or to grant Stock or
other Awards in lieu of obligations to pay cash or deliver other property under this Plan or under other plans or compensatory arrangements, provided that, in the case of Participants subject to section 16 of the Exchange Act, the amount of such
grants remains within the discretion of the Committee to the extent necessary to ensure that acquisitions of Stock or other Awards are exempt from liability under section 16(b) of the Exchange Act. Stock or Awards granted hereunder shall be subject
to such other terms as shall be determined by the Committee. In the case of any grant of Stock to an officer of the Company or any of its Subsidiaries in lieu of salary or other cash compensation, the number of shares granted in place of such
compensation shall be reasonable, as determined by the Committee. 
 (g) Dividend Equivalents. The Committee is authorized
to grant Dividend Equivalents to a Participant, entitling the Participant to receive cash, Stock, other Awards, or other property equal in value to dividends paid with respect to a specified number of shares of Stock, or other periodic payments.
Dividend Equivalents may be awarded on a free-standing basis or in connection with another Award. The Committee may provide that Dividend Equivalents shall be paid or distributed when accrued or shall be deemed to have been reinvested in additional
Stock, Awards, or other investment vehicles, and subject to such restrictions on transferability and risks of forfeiture, as the Committee may specify. 
 (h) Other Awards. The Committee is authorized, subject to limitations under applicable law, to grant to Participants such other Awards that may be denominated or payable in, valued in whole or in
part by reference to, or otherwise based on, or related to, Stock, as deemed by the Committee to be consistent with the purposes of this Plan, including without limitation convertible or exchangeable debt securities, other rights convertible or
exchangeable into Stock, purchase rights for Stock, Awards with value and payment contingent upon performance of the Company or any other factors designated by the Committee, and Awards valued by reference to the book value of Stock or the value of
securities of or the performance of specified Subsidiaries of the Company. The Committee shall determine the terms and conditions of such Other Stock-Based Awards. Stock delivered pursuant to an Award in the nature of a purchase right granted under
this Section 6(h) shall be purchased for such consideration, paid for at such times, by such methods, and in such forms, including, without limitation, cash, Stock, other Awards, or other property, as the Committee shall determine. Cash awards,
as an element of or supplement to any other Award under this Plan, may also be granted pursuant to this Section 6(h). 

  
 12 

 7. Certain Provisions Applicable to Awards. 

(a) Termination of Employment. Except as provided herein, the treatment of an Award upon a termination of employment or any other
service relationship by and between a Participant and the Company or any Subsidiary shall be specified in the agreement controlling such Award. 
 (b) Stand-Alone, Additional, Tandem, and Substitute Awards. Awards granted under this Plan may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with, or in
substitution or exchange for, any other Award; any award granted under another plan of the Company, or any of its Subsidiaries, or of any business entity to be acquired by the Company or any of its Subsidiaries; or any other right of an Eligible
Person to receive payment from the Company or any of its Subsidiaries. Such additional, tandem, and substitute or exchange Awards may be granted at any time. If an Award is granted in substitution or exchange for another Award, the Committee shall
require the surrender of such other Award in consideration for the grant of the new Award. Awards under this Plan may be granted in lieu of cash compensation, including in lieu of cash amounts payable under other plans of the Company or any of its
Subsidiaries, in which the value of Stock subject to the Award is equivalent in value to the cash compensation, or in which the exercise price, grant price, or purchase price of the Award in the nature of a right that may be exercised is equal to
the Fair Market Value of the underlying Stock minus the value of the cash compensation surrendered, but only to the extent such substitution does not cause the Award to violate the requirements of Section 6(b)(i) hereof. Awards granted pursuant
to the preceding sentence shall be designed, awarded and settled in a manner that does not result in additional taxes under the Nonqualified Deferred Compensation Rules. 
 (c) Term of Awards. Except as specified herein, the term of each Award shall be for such period as may be determined by the Committee; provided, that in no event shall the term of any Option
or SAR exceed a period of ten years (or such shorter term as may be required in respect of an ISO under section 422 of the Code). 
 (d) Form and Timing of Payment under Awards; Deferrals. Subject to the terms of this Plan and any applicable Award agreement, payments to be made by the Company or any of its Subsidiaries upon the
exercise of an Option or other Award or upon the settlement of an Award may be made in such forms as the Committee shall determine, including, without limitation, cash, Stock, other Awards, or other property, and may be made in a single payment or
transfer, in installments, or on a deferred basis; provided, however, that any such deferred payment will be set forth in the agreement evidencing such Award and/or otherwise made in a manner that will not result in additional taxes
under the Nonqualified Deferred Compensation Rules. Except as otherwise provided herein, the settlement of any Award may be accelerated, and cash paid in lieu of Stock in connection with such settlement, in the discretion of the Committee or upon
the occurrence of one or more specified events (in addition to a Change in Control). Installment or deferred payments may be required by the Committee (subject to Section 10(c) of this Plan, including the consent provisions thereof in the case
of any deferral of an outstanding Award not provided for in the original Award agreement) or permitted at the election of the Participant on terms and conditions established by the Committee and in compliance with the Nonqualified Deferred
Compensation Rules. Payments may include, 

  
 13 

 
without limitation, provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant or crediting of Dividend Equivalents or other amounts in
respect of installment or deferred payments denominated in Stock. Any deferral shall only be allowed as is provided in a separate deferred compensation plan adopted by the Company (to the extent such separate plan is required for compliance with the
Nonqualified Deferred Compensation Rules) and shall further be made pursuant to the Nonqualified Deferred Compensation Rules. This Plan shall not constitute an “employee benefit plan” for purposes of section 3(3) of the Employee Retirement
Income Security Act of 1974, as amended. 
 (e) Exemptions from Section 16(b) Liability. It is the intent of the
Company that the grant of any Awards to or other transaction by a Participant who is subject to section 16 of the Exchange Act shall be exempt from such section pursuant to an applicable exemption (except for transactions acknowledged in writing to
be non-exempt by such Participant). Accordingly, if any provision of this Plan or any Award agreement does not comply with the requirements of Rule 16b-3 as then applicable to any such transaction, such provision shall be construed or deemed amended
to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant shall avoid liability under section 16(b) of the Exchange Act. 
 (f) Non-Competition Agreement. Each Participant to whom an Award is granted under this Plan may be required to agree in writing as a condition to the granting of such Award not to engage in conduct
in competition with the Company or any of its Subsidiaries for a period after the termination of such Participant’s employment with the Company and its Subsidiaries as determined by the Committee (a “Non-Competition
Agreement”); provided, however, to the extent a legally binding right to an Award within the meaning of the Nonqualified Deferred Compensation Rules is created with respect to a Participant, the Non-Competition Agreement must be entered
into by such Participant within 30 days following the creation of the legally binding right. 
 8. Performance and Annual
Incentive Awards.  
 (a) Performance Conditions. The right of an Eligible Person to receive a grant, and the right of
a Participant to exercise or receive a grant or settlement of any Award, and the timing thereof, may be subject to such performance conditions as may be specified by the Committee. The Committee may use such business criteria and other measures of
performance as it may deem appropriate in establishing any performance conditions, and may exercise its discretion to reduce or increase the amounts payable under any Award subject to performance conditions, except as limited under Sections 8(c) and
8(d) hereof in the case of a Performance Award or Annual Incentive Award intended to qualify as Performance-Based Compensation under section 162(m) of the Code. 
 (b) Status of Section 8(c) and Section 8(d) Awards under Section 162(m) of the Code. It is the intent of the Company that Performance Awards and Annual Incentive Awards under
Sections 8(c) and 8(d) hereof granted to Persons who are designated by the Committee as likely to be “Covered Employees” within the meaning of section 162(m) of the Code and the regulations thereunder (including Treasury
Regulation §1.162-27 and successor regulations thereto) shall, if so designated by the Committee, constitute Performance Based 

  
 14 

 
Compensation. Accordingly, the terms of this Section 8(b) and Sections 8(c), (d), and (e), including the definitions of Covered Employee and other terms used therein, shall be interpreted in
a manner consistent with section 162(m) of the Code and regulations thereunder. The foregoing notwithstanding, because the Committee cannot determine with certainty whether a given Eligible Person will be a Covered Employee with respect to a fiscal
year that has not yet been completed, the term “Covered Employee” as used herein shall mean only a Person designated by the Committee, at the time of grant of a Performance Award or an Annual Incentive Award, who is likely to be a Covered
Employee with respect to that fiscal year. If any provision of this Plan as in effect on the date of adoption of any agreements relating to Performance Awards or Annual Incentive Awards that are designated as intended to comply with the requirements
of section 162(m) of the Code and regulations thereunder for Performance Based Compensation does not so comply or is inconsistent with such requirements, such provision shall be construed or deemed amended to the extent necessary to conform to such
requirements. Notwithstanding anything to the contrary in this Section 8(b) or elsewhere in this Plan, the Company intends to rely on the transition relief set forth in Treasury Regulation §1.162-27(f), and hence the deduction limitation
imposed by section 162(m) of the Code will not be applicable to the Company until the earliest to occur of (i) the material modification of the Plan within the meaning of Treasury Regulation §1.162-27(h)(1)(iii); (ii) the issuance of
the number of shares of Stock set forth in Section 4(a); or (iii) the first meeting of shareholders of the Company at which directors are to be elected that occurs after December 31, 2016 (the “Transition
Period”), and during the Transition Period, Awards to Covered Employees shall only be required to comply with the limitations in Section 5 and the transition relief described in this Section 8(b). 

(c) Performance Awards Granted to Designated Covered Employees. If the Committee determines that a Performance Award to be granted
to an Eligible Person who is designated by the Committee as likely to be a Covered Employee should qualify as Performance Based Compensation, the grant, exercise, and/or settlement of such Performance Award may be contingent upon achievement of
preestablished performance goals and other terms set forth in this Section 8(c). 
 (i) Performance Goals Generally.
The performance goals for such Performance Awards shall consist of one or more business criteria or individual performance criteria and a targeted level or levels of performance with respect to each of such criteria, as specified by the Committee
consistent with this Section 8(c). Performance goals shall be objective and shall otherwise meet the requirements of section 162(m) of the Code and regulations thereunder (including Treasury Regulation §1.162-27 and successor regulations
thereto), including the requirement that the level or levels of performance targeted by the Committee result in the achievement of performance goals being “substantially uncertain” at the time the Committee actually establishes the
performance goal or goals. The Committee may determine that such Performance Awards shall be granted, exercised, and/or settled upon achievement of any one performance goal or that two or more of the performance goals must be achieved as a condition
to grant, exercise, and/or settlement of such Performance Awards. Performance goals may differ for Performance Awards granted to any one Participant or to different Participants. 

  
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 (ii) Business and Individual Performance Criteria 

(A) Business Criteria. One or more of the following business criteria that may apply to a Participant and may include business
criteria for the Company, on a consolidated basis, and/or for specified Subsidiaries or business or geographical units of the Company (except with respect to the total stockholder return, change in the Fair Market Value of the Stock, and earnings
per share criteria), shall be used by the Committee in establishing performance goals for such Performance Awards: (1) earnings per share; (2) increase in revenues; (3) increase in cash flow; (4) increase in cash flow from
operations; (5) increase in cash flow return; (6) return on net assets; (7) return on assets; (8) return on investment; (9) return on capital; (10) return on equity; (11) economic value added; (12) operating
margin; (13) contribution margin; (14) net income; (15) net income per share; (16) pretax earnings; (17) pretax earnings before interest, depreciation and amortization; (18) pretax operating earnings after interest
expense and before incentives, service fees, and extraordinary or special items; (19) total stockholder return; (20) debt reduction; (21) market share; (22) change in the Fair Market Value of the Stock; (23) operating
income; (24) objective safety measures, such as the total recordable incident rate (TRIR) or the lost time incident rate (LTIR); (25) other objective measures related to the completion of projects; and (26) any of the above goals
determined on an absolute or relative basis or as compared to the performance of a published or special index deemed applicable by the Committee, including, but not limited to, the Standard & Poor’s 500 Stock Index or a group of
comparable companies. One or more of the foregoing business criteria shall also be exclusively used in establishing performance goals for Annual Incentive Awards granted to a Covered Employee under Section 8(d) hereof that are intended to
qualify as Performance Based Compensation. The Committee may provide for adjustment of performance goals for certain accounting charges as it determines is appropriate; provided, however, that any such adjustment not described in the immediately
following sentence shall have been provided for by the Committee in the performance goals that are established at the time such performance goals are established in accordance with Section 8(c)(iii). The Committee may also exclude the impact of
any of the following events or occurrences which the Committee determines should appropriately be excluded, but only to the extent such exclusions will not cause Awards intended to qualify as Performance Based Compensation to fail to so qualify:
(a) asset write-downs; (b) litigation, claims, judgments, or settlements; (c) the effect of changes in tax law or other such laws or regulations affecting reported results; (d) accruals for reorganization and restructuring
programs; (e) any extraordinary, unusual, or nonrecurring items as described in the Accounting Standards Codification Topic 225, as the same may be amended or superseded from time to time; (f) any change in accounting principles as defined
in the Accounting Standards Codification Topic 250, as the same may be amended or superseded from time to time; (g) any loss from a discontinued operation as described in the Accounting Standards Codification Topic 360, as the same may be
amended or superseded from time to time; (h) goodwill impairment charges; (i) operating results for any business acquired during the calendar year; (j) third party expenses associated with any acquisition by us or any subsidiary; and
(k) any other extraordinary events or occurrences identified by the Committee, to the extent set forth with reasonable particularity in connection with the establishment of performance goals. 

(B) Individual Performance Criteria. The grant, exercise, and/or settlement of Performance Awards may also be contingent upon
individual performance goals established by the Committee. If required for compliance with section 162(m) of the Code for Performance Based Compensation, such criteria shall be approved by the stockholders of the Company. 

  
 16 

 (iii) Performance Period; Timing for Establishing Performance Goals. Achievement of
performance goals in respect of such Performance Awards shall be measured over a performance period of up to ten years, as specified by the Committee. Performance goals shall be established not later than 90 days after the beginning of any
performance period applicable to such Performance Awards, or at such other date as may be required or permitted for Performance Based Compensation. 
 (iv) Performance Award Pool. The Committee may establish a Performance Award pool, which shall be an unfunded pool, for purposes of measuring performance of the Company in connection with
Performance Awards. The amount of such Performance Award pool shall be based upon the achievement of a performance goal or goals based on one or more of the criteria set forth in Section 8(c)(ii) hereof during the given performance period, as
specified by the Committee in accordance with Section 8(c)(iii) hereof. The Committee may specify the amount of the Performance Award pool as a percentage of any of such criteria, a percentage thereof in excess of a threshold amount, or as
another amount, which need not bear a strictly mathematical relationship to such criteria. 
 (v) Settlement of Performance
Awards; Other Terms. After the end of each performance period, the Committee shall determine the amount, if any, of (A) the Performance Award pool and the maximum amount of the potential Performance Award payable to each Participant in the
Performance Award pool, or (B) the amount of the potential Performance Award otherwise payable to each Participant. Settlement of such Performance Awards shall be in cash, Stock, other Awards, or other property, in the discretion of the
Committee. The Committee may, in its discretion, reduce the amount of a settlement otherwise to be made in connection with such Performance Awards, but may not exercise discretion to increase any such amount payable to a Covered Employee in respect
of a Performance Award subject to this Section 8(c). The Committee shall specify the circumstances in which such Performance Awards shall be paid or forfeited in the event of termination of employment by the Participant prior to the end of a
performance period or settlement of Performance Awards. 
 (d) Annual Incentive Awards Granted to Designated Covered
Employees. If the Committee determines that an Annual Incentive Award to be granted to an Eligible Person who is designated by the Committee as likely to be a Covered Employee should qualify as Performance Based Compensation, the grant,
exercise, and/or settlement of such Annual Incentive Award shall be contingent upon achievement of pre-established performance goals and other terms set forth in this Section 8(d). 

(i) Potential Annual Incentive Awards. Not later than the end of the 90th day of each applicable performance year, or at such
other date as may be required or permitted in the case of Awards intended to be Performance Based Compensation, the Committee shall determine the Eligible Persons who will potentially receive Annual Incentive Awards, and the amounts potentially
payable thereunder, for that fiscal year, either out of an Annual Incentive Award pool established by such date under Section 8(d)(i) hereof or as individual Annual Incentive Awards. The amount potentially payable, with respect to Annual

  
 17 

 
Incentive Awards, shall be based upon the achievement of a performance goal or goals based on one or more of the business criteria set forth in Section 8(c)(ii) hereof in the given
performance year, as specified by the Committee, in accordance with Section 8(c)(iii) hereof. 
 (ii) Annual Incentive
Award Pool. The Committee may establish an Annual Incentive Award pool, which shall be an unfunded pool, for purposes of measuring performance of the Company in connection with Annual Incentive Awards. The amount of such Annual Incentive Award
pool shall be based upon the achievement of a performance goal or goals based on one or more of the business criteria set forth in Section 8(c)(ii) hereof during the given performance period, as specified by the Committee in accordance with
Section 8(c)(iii) hereof. The Committee may specify the amount of the Annual Incentive Award pool as a percentage of any of such business criteria, a percentage thereof in excess of a threshold amount, or as another amount which need not bear a
strictly mathematical relationship to such business criteria. 
 (iii) Payout of Annual Incentive Awards. After the end
of each applicable performance year, the Committee shall determine the amount, if any, of (A) the Annual Incentive Award pool, and the maximum amount of the potential Annual Incentive Award payable to each Participant in the Annual Incentive
Award pool, or (A) the amount of the potential Annual Incentive Award otherwise payable to each Participant. The Committee may, in its discretion, determine that the amount payable to any Participant as a final Annual Incentive Award shall be
reduced from the amount of his or her potential Annual Incentive Award, including a determination to make no final Award whatsoever, but may not exercise discretion to increase any such amount in the case of an Annual Incentive Award intended to
qualify as Performance Based Compensation. The Committee shall specify the circumstances in which an Annual Incentive Award shall be paid or forfeited in the event of termination of employment by the Participant prior to the end of the applicable
year or settlement of such Annual Incentive Award. 
 (e) Written Determinations. All determinations by the Committee as
to the establishment of performance goals, the amount of any Performance Award pool or potential individual Performance Awards, the achievement of performance goals relating to and final settlement of Performance Awards under Section 8(c), the
amount of any Annual Incentive Award pool or potential individual Annual Incentive Awards, and the achievement of performance goals relating to and final settlement of Annual Incentive Awards under Section 8(d) shall be made in writing in the
case of any Award intended to qualify as Performance Based Compensation. The Committee may not delegate any responsibility relating to such Performance Awards or Annual Incentive Awards. 

9. Subdivision or Consolidation; Recapitalization; Change in Control; Reorganization. 

(a) Existence of Plans and Awards. The existence of this Plan and the Awards granted hereunder shall not affect in any way the
right or power of the Board or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization, or other change in the Company’s capital structure or its business, any merger or consolidation of the
Company, any issue of debt or equity securities ahead of or affecting Stock 

  
 18 

 
or the rights thereof, the dissolution or liquidation of the Company or any sale, lease, exchange, or other disposition of all or any part of its assets or business, or any other corporate act or
proceeding. In no event will any action taken by the Committee pursuant to this Section 9 result in the creation of deferred compensation within the meaning of section 409A of the Code and the regulations and other guidance promulgated
thereunder. 
 (b) Subdivision or Consolidation of Shares. The terms of an Award and the number of shares of Stock
authorized pursuant to Section 4 for issuance under the Plan shall be subject to adjustment from time to time, in accordance with the following provisions: 
 (i) If at any time, or from time to time, the Company shall subdivide as a whole (by reclassification, by a Stock split, by the issuance of a distribution on Stock payable in Stock, or otherwise) the
number of shares of Stock then outstanding into a greater number of shares of Stock, then, as appropriate: (A) the maximum number of shares of Stock available for the Plan or in connection with Awards as provided in Sections 4 and 5 shall be
increased proportionately, and the kind of shares or other securities available for the Plan shall be appropriately adjusted, (B) the number of shares of Stock (or other kind of shares or securities) that may be acquired under any then
outstanding Award shall be increased proportionately, and (C) the price (including the exercise price) for each share of Stock (or other kind of shares or securities) subject to then outstanding Awards shall be reduced proportionately, all
without changing the aggregate purchase price or value as to which outstanding Awards remain exercisable or subject to restrictions. 
 (ii) If at any time, or from time to time, the Company shall consolidate as a whole (by reclassification, by reverse Stock split, or otherwise) the number of shares of Stock then outstanding into a lesser
number of shares of Stock, (A) the maximum number of shares of Stock for the Plan or available in connection with Awards as provided in Sections 4 and 5 shall be decreased proportionately, and the kind of shares or other securities available
for the Plan shall be appropriately adjusted, (B) the number of shares of Stock (or other kind of shares or securities) that may be acquired under any then outstanding Award shall be decreased proportionately, and (C) the price (including
the exercise price) for each share of Stock (or other kind of shares or securities) subject to then outstanding Awards shall be increased proportionately, all without changing the aggregate purchase price or value as to which outstanding Awards
remain exercisable or subject to restrictions. 
 (iii) Whenever the number of shares of Stock subject to outstanding Awards and
the price for each share of Stock subject to outstanding Awards are required to be adjusted as provided in this Section 9(b), the Committee shall promptly prepare a notice setting forth, in reasonable detail, the event requiring adjustment, the
amount of the adjustment, the method by which such adjustment was calculated, and the change in price and the number of shares of Stock, other securities, cash, or property purchasable subject to each Award after giving effect to the adjustments.
The Committee shall promptly provide each affected Participant with such notice. 

  
 19 

 (iv) Adjustments under Sections 9(b)(i) and (ii) shall be made by the Committee, and
its determination as to what adjustments shall be made and the extent thereof shall be final, binding, and conclusive. No fractional interest shall be issued under the Plan on account of any such adjustments. 

(c) Corporate Recapitalization. If the Company recapitalizes, reclassifies its capital stock, or otherwise changes its capital
structure (a “Recapitalization”) without the occurrence of a Change in Control, the number and class of shares of Stock covered by an Option or an SAR theretofore granted shall be adjusted so that such Option or SAR shall
thereafter cover the number and class of shares of stock and securities to which the holder would have been entitled pursuant to the terms of the Recapitalization if, immediately prior to the Recapitalization, the holder had been the holder of
record of the number of shares of Stock then covered by such Option or SAR and the share limitations provided in Sections 4 and 5 shall be adjusted in a manner consistent with the Recapitalization. 

(d) Additional Issuances. Except as hereinbefore expressly provided, the issuance by the Company of shares of stock of any class or
securities convertible into shares of stock of any class for cash, property, labor, or services, upon direct sale, upon the exercise of rights or warrants to subscribe therefor, or upon conversion of shares or obligations of the Company convertible
into such shares or other securities, and in any case whether or not for fair value, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Stock subject to Awards theretofore granted or the
purchase price per share, if applicable. 
 (e) Change in Control. Upon a Change in Control the Committee, acting in its
sole discretion without the consent or approval of any holder, shall affect one or more of the following alternatives, which may vary among individual holders and which may vary among Options or SARs (collectively “Grants”) held by any
individual holder: (i) accelerate the time at which Grants then outstanding may be exercised so that such Grants may be exercised in full for a limited period of time on or before a specified date (before or after such Change in Control) fixed
by the Committee, after which specified date all unexercised Grants and all rights of holders thereunder shall terminate, (ii) require the mandatory surrender to the Company by selected holders of some or all of the outstanding Grants held by
such holders (irrespective of whether such Grants are then exercisable under the provisions of this Plan) as of a date, before or after such Change in Control, specified by the Committee, in which event the Committee shall thereupon cancel such
Grants and pay to each holder an amount of cash per share equal to the excess, if any, of the amount calculated in Section 9(f) (the “Change in Control Price”) of the shares subject to such Grants over the Exercise Price(s) under such
Grants for such shares (except that to the extent the Exercise Price under any such Grant is equal to or exceeds the Change in Control Price, in which case no amount shall be payable with respect to such Grant), or (iii) make such adjustments
to Grants then outstanding as the Committee deems appropriate to reflect such Change in Control; provided, however, that the Committee may determine in its sole discretion that no adjustment is necessary to Grants then outstanding;
provided, further, however, that the right to make such adjustments shall include, but not require or be limited to, the modification of Grants such that the holder of the Grant shall be entitled to purchase or receive (in lieu of the total
number of shares of Stock as to which an Option or SAR is exercisable (the “Total Shares”) or other consideration that the holder would otherwise be entitled to purchase or receive under the Grant (the “Total
Consideration”)), the number of shares of stock or other securities or the amount of cash or property to which the Total Consideration relates that the 

  
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holder would have been entitled to purchase or receive in connection with the Change in Control (A) (in the case of Options), at an aggregate exercise price equal to the exercise price that
would have been payable if the Total Shares had been purchased upon the exercise of the Grant immediately before the consummation of the Change in Control and (B) in the case of SARs, calculated as if the SARs had been exercised immediately
before the occurrence of the Change in Control. 
 (f) Change in Control Price. The “Change in Control Price”
shall equal the amount determined in the following clause (i), (ii), (iii), (iv) or (v), whichever is applicable, as follows: (i) the price per share offered to holders of Stock in any merger or consolidation, (ii) the per share Fair
Market Value of the Stock immediately before the Change in Control without regard to assets sold in the Change in Control and assuming the Company has received the consideration paid for the assets in the case of a sale of the assets, (iii) the
amount distributed per share of Stock in a dissolution transaction, (iv) the price per share offered to holders of Stock in any tender offer or exchange offer whereby a Change in Control takes place, or (v) if such Change in Control occurs
other than pursuant to a transaction described in clauses (i), (ii), (iii), or (iv) of this Section 9(f), the Fair Market Value per share of the Stock that may otherwise be obtained with respect to such Grants or to which such Grants
track, as determined by the Committee as of the date determined by the Committee to be the date of cancellation and surrender of such Grants. In the event that the consideration offered to stockholders of the Company in any transaction described in
this Section 9(f) or in Section 9(e) consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration offered which is other than cash and such determination shall be binding
on all affected Participants to the extent applicable to Awards held by such Participants. 
 (g) Impact of Corporate Events
on Awards Generally. In the event of a Change in Control or changes in the outstanding Stock by reason of a recapitalization, reorganization, merger, consolidation, combination, exchange, or other relevant change in capitalization occurring
after the date of the grant of any Award and not otherwise provided for by this Section 9, any outstanding Awards and any Award agreements evidencing such Awards shall be subject to adjustment by the Committee at its discretion, which
adjustment may, in the Committee’s discretion, be described in the Award agreement and may include, but not be limited to, adjustments as to the number and price of shares of Stock or other consideration subject to such Awards, accelerated
vesting (in full or in part) of such Awards, conversion of such Awards into awards denominated in the securities or other interests of any successor Person, or the cash settlement of such Awards in exchange for the cancellation thereof. In the event
of any such change in the outstanding Stock, the aggregate number of shares of Stock available under this Plan may be appropriately adjusted by the Committee, whose determination shall be conclusive. 

10. General Provisions. 
 (a) Transferability. 
 (i) Permitted Transferees. The Committee may,
in its discretion, permit a Participant to transfer all or any portion of an Option or SAR, or authorize all or a portion of an Option or SAR to be granted to an Eligible Person to be on terms which permit

  
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transfer by such Participant; provided that, in either case the transferee or transferees must be any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former
spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, in each case with respect to the Participant, an individual sharing the Participant’s
household (other than a tenant or employee of the Company), a trust in which any of the foregoing individuals have more than fifty percent of the beneficial interest, a foundation in which any of the foregoing individuals (or the Participant)
control the management of assets, and any other entity in which any of the foregoing individuals (or the Participant) owns more than fifty percent of the voting interests (collectively, “Permitted Transferees”);
provided further that, (A) there may be no consideration for any such transfer and (B) subsequent transfers of Options or SARs transferred as provided above shall be prohibited except subsequent transfers back to the original holder
of the Option or SAR and transfers to other Permitted Transferees of the original holder. Agreements evidencing Options or SARs with respect to which such transferability is authorized at the time of grant must be approved by the Committee and must
expressly provide for transferability in a manner consistent with this Section 10(a)(i). 
 (ii) Qualified
Domestic Relations Orders. An Option, Stock Appreciation Right, Restricted Stock Unit, Restricted Stock, or other Award may be transferred to a Permitted Transferee, pursuant to a domestic relations order entered or approved by a court of
competent jurisdiction upon delivery to the Company of written notice of such transfer and a certified copy of such order. 

(iii) Other Transfers. Except as expressly permitted by Sections 10(a)(i) and 10(a)(ii), Awards shall not be transferable other
than by will or the laws of descent and distribution. Notwithstanding anything to the contrary in this Section 10, an Incentive Stock Option shall not be transferable other than by will or the laws of descent and distribution. 

(iv) Effect of Transfer. Following the transfer of any Award as contemplated by Sections 10(a)(i), 10(a)(ii) and 10(a)(iii),
(A) such Award shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that the term “Participant” shall be deemed to refer to the Permitted Transferee, the recipient
under a qualified domestic relations order, or the estate or heirs of a deceased Participant or other transferee, as applicable, to the extent appropriate to enable the Participant to exercise the transferred Award in accordance with the terms of
this Plan and applicable law and (B) the provisions of the Award relating to exercisability shall continue to be applied with respect to the original Participant and, following the occurrence of any applicable events described therein, the
Awards shall be exercisable by the Permitted Transferee, the recipient under a qualified domestic relations order, or the estate or heirs of a deceased Participant, as applicable, only to the extent and for the periods that would have been
applicable in the absence of the transfer. 
 (v) Procedures and Restrictions. Any Participant desiring to transfer an
Award as permitted under Sections 10(a)(i), 10(a)(ii) or 10(a)(iii) shall make application therefor in the manner and time specified by the Committee and shall comply with such other requirements as the Committee may require to assure compliance
with all applicable securities laws. The Committee shall not give permission for such a transfer if (A) it would give rise to short swing liability under section 16(b) of the Exchange Act or (B) it may not be made in compliance with all
applicable federal, state, and foreign securities laws. 

  
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 (vi) Registration. To the extent the issuance to any Permitted Transferee of any
shares of Stock issuable pursuant to Awards transferred as permitted in this Section 10(a) is not registered pursuant to the effective registration statement of the Company generally covering the shares to be issued pursuant to this Plan to
initial holders of Awards, the Company shall not have any obligation to register the issuance of any such shares of Stock to any such transferee. 
 (b) Taxes. The Company and any of its Subsidiaries are authorized to withhold from any Award granted, or any payment relating to an Award under this Plan, including from a distribution of Stock,
amounts of withholding and other taxes due or potentially payable in connection with any transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company and Participants to satisfy obligations
for the payment of withholding taxes and other tax obligations relating to any Award. This authority shall include authority to withhold or receive Stock or other property and to make cash payments in respect thereof in satisfaction of a
Participant’s tax obligations, either on a mandatory or elective basis, in the discretion of the Committee. 
 (c)
Changes to this Plan and Awards. The Board may amend, alter, suspend, discontinue or terminate this Plan or the Committee’s authority to grant Awards under this Plan without the consent of stockholders or Participants, except that any
amendment or alteration to this Plan, including any increase in any share limitation, shall be subject to the approval of the Company’s stockholders not later than the annual meeting next following such Board action if such stockholder approval
is required by any federal or state law or regulation or the rules of any stock exchange or automated quotation system on which the Stock may then be listed or quoted, and the Board may otherwise, in its discretion, determine to submit other such
changes to this Plan to stockholders for approval; provided, that, without the consent of an affected Participant, no such Board action may materially and adversely affect the rights of such Participant under any previously granted and
outstanding Award. The Committee may waive any conditions or rights under, or amend, alter, suspend, discontinue, or terminate any Award theretofore granted and any Award agreement relating thereto, except as otherwise provided in this Plan;
provided, however, that, without the consent of an affected Participant, no such Committee action may materially and adversely affect the rights of such Participant under such Award. For purposes of clarity, any adjustments made to
Awards pursuant to Section 9 will be deemed not to materially and adversely affect the rights of any Participant under any previously granted and outstanding Award and therefore may be made without the consent of affected Participants.

 (d) Limitation on Rights Conferred under Plan. Neither this Plan nor any action taken hereunder shall be construed as
(i) giving any Eligible Person or Participant the right to continue as an Eligible Person or Participant or in the employ or service of the Company or any of its Subsidiaries, (ii) interfering in any way with the right of the Company or
any of its Subsidiaries to terminate any Eligible Person’s or Participant’s employment or service relationship at any time, (iii) giving an Eligible Person or Participant any claim to be granted any Award under this Plan or to be
treated uniformly with other Participants and/or employees and/or other service providers, or (iv) conferring on a Participant any of the rights of a stockholder of the Company unless and until the Participant is duly issued or transferred
shares of Stock in accordance with the terms of an Award. 

  
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 (e) Unfunded Status of Awards. This Plan is intended to constitute an
“unfunded” plan for certain incentive awards. 
 (f) Nonexclusivity of this Plan. Neither the adoption of this
Plan by the Board nor its submission to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other incentive arrangements as it may deem desirable,
including incentive arrangements and awards which do not qualify as Performance Based Compensation under section 162(m) of the Code. Nothing contained in this Plan shall be construed to prevent the Company or any of its Subsidiaries from taking any
corporate action which is deemed by the Company or such Subsidiary to be appropriate or in its best interest, whether or not such action would have an adverse effect on this Plan or any Award made under this Plan. No employee, beneficiary or other
person shall have any claim against the Company or any of its Subsidiaries as a result of any such action. 
 (g) Fractional
Shares. No fractional shares of Stock shall be issued or delivered pursuant to this Plan or any Award. The Committee shall determine whether cash, other Awards, or other property shall be issued or paid in lieu of such fractional shares or
whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated. 
 (h) Severability. If
any provision of this Plan is held to be illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining provisions hereof, but such provision shall be fully severable, and the Plan shall be construed and enforced as
if the illegal or invalid provision had never been included herein. If any of the terms or provisions of this Plan or any Award agreement conflict with the requirements of Rule 16b-3 (as those terms or provisions are applied to Eligible Persons who
are subject to section 16(b) of the Exchange Act) or section 422 of the Code (with respect to Incentive Stock Options), then those conflicting terms or provisions shall be deemed inoperative to the extent they so conflict with the requirements of
Rule 16b-3 (unless the Board (including the Company’s Management Board if required under Rule 16b-3(d)(1)) or the Committee, as appropriate, has expressly determined that the Plan or such Award should not comply with Rule 16b-3) or section 422
of the Code. With respect to Incentive Stock Options, if this Plan does not contain any provision required to be included herein under section 422 of the Code, that provision shall be deemed to be incorporated herein with the same force and effect
as if that provision had been set out at length herein; provided, further, that, to the extent any Option that is intended to qualify as an Incentive Stock Option cannot so qualify, that Option (to that extent) shall be deemed an Option not
subject to section 422 of the Code for all purposes of the Plan. 
 (i) Governing Law. All questions arising with respect
to the provisions of the Plan and Awards shall be determined by application of the laws of the State of Texas, without giving effect to any conflict of law provisions thereof, except to the extent Texas law is preempted by federal law. The
obligation of the Company to sell and deliver Stock hereunder is subject to applicable federal and state laws and to the approval of any governmental authority required in connection with the authorization, issuance, sale, or delivery of such Stock.

  
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 (j) Conditions to Delivery of Stock. Nothing herein or in any Award granted hereunder
or any Award agreement shall require the Company to issue any shares with respect to any Award if that issuance would, in the opinion of counsel for the Company, constitute a violation of the Securities Act or any similar or superseding statute or
statutes, any other applicable statute or regulation, or the rules of any applicable securities exchange or securities association, as then in effect. At the time of any exercise of an Option or Stock Appreciation Right, or at the time of any grant
of Restricted Stock, a Restricted Stock Unit, or other Award the Company may, as a condition precedent to the exercise of such Option or Stock Appreciation Right or settlement of any Restricted Stock, Restricted Stock Unit or other Award, require
from the Participant (or in the event of his or her death, his or her legal representatives, heirs, legatees, or distributees) such written representations, if any, concerning the holder’s intentions with regard to the retention or disposition
of the shares of Stock being acquired pursuant to the Award and such written covenants and agreements, if any, as to the manner of disposal of such shares as, in the opinion of counsel to the Company, may be necessary to ensure that any disposition
by that holder (or in the event of the holder’s death, his or her legal representatives, heirs, legatees, or distributees) will not involve a violation of the Securities Act or any similar or superseding statute or statutes, any other
applicable state or federal statute or regulation, or any rule of any applicable securities exchange or securities association, as then in effect. No Option or Stock Appreciation Right shall be exercisable and no settlement of any Restricted Stock
or Restricted Stock Unit shall occur with respect to a Participant unless and until the holder thereof shall have paid cash or property to, or performed services for, the Company or any of its Subsidiaries that the Committee believes is equal to or
greater in value than the par value of the Stock subject to such Award. 
 (k) Section 409A of the Code. In the event
that any Award granted pursuant to this Plan provides for a deferral of compensation within the meaning of the Nonqualified Deferred Compensation Rules, it is the general intention, but not the obligation, of the Company to design such Award to
comply with the Nonqualified Deferred Compensation Rules and such Award should be interpreted accordingly. 
 (l)
Clawback. To the extent required by (i) applicable law, including, without limitation, the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, any Securities Exchange Commission rule or any applicable
securities exchange listing standards and/or (ii) any policy that may be adopted by the Board, Awards and amounts paid or payable pursuant to or with respect to Awards shall be subject to clawback to the extent necessary to comply with such
law(s) and/or policy, which clawback may include forfeiture, repurchase and/or recoupment of Awards and amounts paid or payable pursuant to or with respect to Awards. 
 (m) Plan Establishment and Term. This Plan was adopted and established by the Board and approved by the Company’s stockholders on July 26, 2013. Awards may be granted under this Plan no
earlier than the date specified in Section 2(k), which is the Effective Date, and no Awards may be granted under this Plan on or after the tenth anniversary of the Effective Date. 

  
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