Document:

Exhibit 4.1

    
      	
               

            

    

     

    SAFE AUTO GROUP, INC.,

      as Issuer

     

    INDENTURE

      Dated as of May 12, 2004

     

    U.S. BANK NATIONAL ASSOCIATION,

      as Trustee

     

    FLOATING RATE JUNIOR SUBORDINATED

      DEFERRABLE INTEREST DEBENTURES

     

    DUE 2034

    
      	
               

            

    

    
      
        
 

    

    
    
      TABLE OF CONTENTS

      

      	 	 	 	
              Page

            
	 	 	 	 
	
              ARTICLE I.

            	
              DEFINITIONS

            	
              1

            
	 	 	 	 
	
              Section 1.1.

            	 	
              Definitions

            	
              1

            
	 	 	 	 
	
              ARTICLE II.

            	
              DEBENTURES

            	
              7

            
	 	 	 	 
	
              Section 2.1.

            	 	
              Authentication and Dating

            	
              7

            
	
              Section 2.2.

            	 	
              Form of Trustee’s Certificate of Authentication

            	
              8

            
	
              Section 2.3.

            	 	
              Form and Denomination of Debentures

            	
              8

            
	
              Section 2.4.

            	 	
              Execution of Debentures

            	
              8

            
	
              Section 2.5.

            	 	
              Exchange and Registration of Transfer of Debentures

            	
              9

            
	
              Section 2.6.

            	 	
              Mutilated, Destroyed, Lost or Stolen Debentures

            	
              11

            
	
              Section 2.7.

            	 	
              Temporary Debentures

            	
              12

            
	
              Section 2.8.

            	 	
              Payment of Interest and Additional Interest

            	
              12

            
	
              Section 2.9.

            	 	
              Cancellation of Debentures Paid, etc.

            	
              14

            
	
              Section 2.10.

            	 	
              Computation of Interest

            	
              14

            
	
              Section 2.11.

            	 	
              Extension of Interest Payment Period

            	
              16

            
	
              Section 2.12.

            	 	
              CUSIP Numbers

            	
              17

            
	 	 	 	 
	
              ARTICLE III.

            	
              PARTICULAR COVENANTS OF THE COMPANY

            	
              17

            
	 	 	 	 
	
              Section 3.1.

            	 	
              Payment of Principal, Premium and Interest; Agreed Treatment of the Debentures

            	
              17

            
	
              Section 3.2.

            	 	
              Offices for Notices and Payments, etc.

            	
              18

            
	
              Section 3.3.

            	 	
              Appointments to Fill Vacancies in Trustee’s Office

            	
              18

            
	
              Section 3.4.

            	 	
              Provision as to Paying Agent

            	
              19

            
	
              Section 3.5.

            	 	
              Certificate to Trustee

            	
              19

            
	
              Section 3.6.

            	 	
              Additional Sums

            	
              20

            
	
              Section 3.7.

            	 	
              Compliance with Consolidation Provisions

            	
              20

            
	
              Section 3.8.

            	 	
              Limitation on Dividends

            	
              20

            
	
              Section 3.9.

            	 	
              Covenants as to the Trust

            	
              21

            
	
              Section 3.10.

            	 	
              Additional Junior Indebtedness

            	
              21

            
	 	 	 	 
	
              ARTICLE IV.

            	
              SECURITYHOLDERS LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

            	
              21

            
	 	 	 	 
	
              Section 4.1.

            	 	
              Securityholders Lists

            	
              21

            
	
              Section 4.2.

            	 	
              Preservation and Disclosure of Lists

            	
              22

            
	 	 	 	 
	
              ARTICLE V.

            	
              REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS UPON AN EVENT OF DEFAULT

            	
              23

            
	 	 	 	 
	
              Section 5.1.

            	 	
              Events of Default

            	
              23

            
	
              Section 5.2.

            	 	
              Payment of Debentures on Default; Suit Therefor

            	
              25

            
	
              Section 5.3.

            	 	
              Application of Moneys Collected by Trustee

            	
              26

            

      
        i

        
          
 

      

      	
              Section 5.4.

            	 	
              Proceedings by Securityholders

            	
              27

            
	
              Section 5.5.

            	 	
              Proceedings by Trustee

            	
              27

            
	
              Section 5.6.

            	 	
              Remedies Cumulative and Continuing; Delay or Omission Not a Waiver

            	
              28

            
	
              Section 5.7.

            	 	
              Direction of Proceedings and Waiver of Defaults by Majority of Securityholders

            	
              28

            
	
              Section 5.8.

            	 	
              Notice of Defaults

            	
              29

            
	
              Section 5.9.

            	 	
              Undertaking to Pay Costs

            	
              29

            
	 	 	 	 
	
              ARTICLE VI.

            	
              CONCERNING THE TRUSTEE

            	
              29

            
	 	 	 	 
	
              Section 6.1.

            	 	
              Duties and Responsibilities of Trustee

            	
              29

            
	
              Section 6.2.

            	 	
              Reliance on Documents, Opinions, etc.

            	
              30

            
	
              Section 6.3.

            	 	
              No Responsibility for Recitals, etc.

            	
              31

            
	
              Section 6.4.

            	 	
              Trustee, Authenticating Agent, Paying Agents, Transfer Agents or Registrar May Own Debentures

            	
              32

            
	
              Section 6.5.

            	 	
              Moneys to be Held in Trust

            	
              32

            
	
              Section 6.6.

            	 	
              Compensation and Expenses of Trustee

            	
              32

            
	
              Section 6.7.

            	 	
              Officers’ Certificate as Evidence

            	
              33

            
	
              Section 6.8.

            	 	
              Eligibility of Trustee

            	
              33

            
	
              Section 6.9.

            	 	
              Resignation or Removal of Trustee

            	
              34

            
	
              Section 6.10.

            	 	
              Acceptance by Successor Trustee

            	
              35

            
	
              Section 6.11.

            	 	
              Succession by Merger, etc.

            	
              36

            
	
              Section 6.12.

            	 	
              Authenticating Agents

            	
              36

            
	 	 	 	 
	
              ARTICLE VII.

            	
              CONCERNING THE SECURITYHOLDERS

            	
              37

            
	 	 	 	 
	
              Section 7.1.

            	 	
              Action by Securityholders

            	
              37

            
	
              Section 7.2.

            	 	
              Proof of Execution by Securityholders

            	
              38

            
	
              Section 7.3.

            	 	
              Who Are Deemed Absolute Owners

            	
              38

            
	
              Section 7.4.

            	 	
              Debentures Owned by Company Deemed Not Outstanding

            	
              38

            
	
              Section 7.5.

            	 	
              Revocation of Consents; Future Holders Bound

            	
              39

            
	 	 	 	 
	
              ARTICLE VIII.

            	
              SECURITYHOLDERS MEETINGS

            	
              39

            
	 	 	 	 
	
              Section 8.1.

            	 	
              Purposes of Meetings

            	
              39

            
	
              Section 8.2.

            	 	
              Call of Meetings by Trustee

            	
              39

            
	
              Section 8.3.

            	 	
              Call of Meetings by Company or Securityholders

            	
              40

            
	
              Section 8.4.

            	 	
              Qualifications for Voting

            	
              40

            
	
              Section 8.5.

            	 	
              Regulations

            	
              40

            
	
              Section 8.6.

            	 	
              Voting

            	
              40

            
	
              Section 8.7.

            	 	
              Quorum; Actions

            	
              41

            
	 	 	 	 
	
              ARTICLE IX.

            	
              SUPPLEMENTAL INDENTURES

            	
              42

            
	 	 	 	 
	
              Section 9.1.

            	 	
              Supplemental Indentures without Consent of Securityholders

            	
              42

            
	
              Section 9.2.

            	 	
              Supplemental Indentures with Consent of Securityholders

            	
              43

            
	
              Section 9.3.

            	 	
              Effect of Supplemental Indentures

            	
              44

            
	
              Section 9.4.

            	 	
              Notation on Debentures

            	
              44

            

      
        ii

        
          
 

      

      	
              Section 9.5.

            	 	
              Evidence of Compliance of Supplemental Indenture to be Furnished to Trustee

            	
              44

            
	 	 	 	 
	
              ARTICLE X.

            	
              REDEMPTION OF SECURITIES

            	
              44

            
	 	 	 	 
	
              Section 10.1.

            	 	
              Optional Redemption

            	
              44

            
	
              Section 10.2.

            	 	
              Special Event Redemption

            	
              45

            
	
              Section 10.3.

            	 	
              Notice of Redemption; Selection of Debentures

            	
              45

            
	
              Section 10.4.

            	 	
              Payment of Debentures Called for Redemption

            	
              46

            
	 	 	 	 
	
              ARTICLE XI.

            	
              CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE

            	
              46

            
	 	 	 	 
	
              Section 11.1.

            	 	
              Company May Consolidate, etc., on Certain Terms

            	
              46

            
	
              Section 11.2.

            	 	
              Successor Entity to be Substituted

            	
              46

            
	
              Section 11.3.

            	 	
              Opinion of Counsel to be Given to Trustee

            	
              47

            
	 	 	 	 
	
              ARTICLE XII.

            	 	
              SATISFACTION AND DISCHARGE OF INDENTURE

            	
              47

            
	 	 	 	 
	
              Section 12.1.

            	 	
              Discharge of Indenture

            	
              47

            
	
              Section 12.2.

            	 	
              Deposited Moneys to be Held in Trust by Trustee

            	
              48

            
	
              Section 12.3.

            	 	
              Paying Agent to Repay Moneys Held

            	
              48

            
	
              Section 12.4.

            	 	
              Return of Unclaimed Moneys

            	
              48

            
	 	 	 	 
	
              ARTICLE XIII.

            	
              IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

            	
              48

            
	 	 	 	 
	
              Section 13.1.

            	 	
              Indenture and Debentures Solely Corporate Obligations

            	
              48

            
	 	 	 	 
	
              ARTICLE XIV.

            	
              MISCELLANEOUS PROVISIONS

            	
              49

            
	 	 	 	 
	
              Section 14.1.

            	 	
              Successors

            	
              49

            
	
              Section 14.2.

            	 	
              Official Acts by Successor Entity

            	
              49

            
	
              Section 14.3.

            	 	
              Surrender of Company Powers

            	
              49

            
	
              Section 14.4.

            	 	
              Addresses for Notices, etc.

            	
              49

            
	
              Section 14.5.

            	 	
              Governing Law

            	
              49

            
	
              Section 14.6.

            	 	
              Evidence of Compliance with Conditions Precedent

            	
              49

            
	
              Section 14.7.

            	 	
              Table of Contents, Headings, etc.

            	
              50

            
	
              Section 14.8.

            	 	
              Execution in Counterparts

            	
              50

            
	
              Section 14.9.

            	 	
              Severability

            	
              50

            
	
              Section 14.10.

            	 	
              Assignment

            	
              50

            
	
              Section 14.11.

            	 	
              Acknowledgment of Rights

            	
              50

            
	 	 	 	 
	
              ARTICLE XV.

            	
              SUBORDINATION OF DEBENTURES

            	
              51

            
	 	 	 	 
	
              Section 15.1.

            	 	
              Agreement to Subordinate

            	
              51

            
	
              Section 15.2.

            	 	
              Default on Senior Indebtedness

            	
              51

            
	
              Section 15.3.

            	 	
              Liquidation, Dissolution, Bankruptcy

            	
              52

            
	
              Section 15.4.

            	 	
              Subrogation

            	
              53

            
	
              Section 15.5.

            	 	
              Trustee to Effectuate Subordination

            	
              54

            
	
              Section 15.6.

            	 	
              Notice by the Company

            	
              54

            

      

      

      
        iii

        
          
 

      

      	
              Section 15.7.

            	 	
              Rights of the Trustee; Holders of Senior Indebtedness

            	
              54

            
	
              Section 15.8.

            	 	
              Subordination May Not Be Impaired

            	
              55

            

       

      Exhibit A     Form of Junior Subordinated Deferrable Interest Debenture

    

    
      iv

      
        
 

    

    
    THIS INDENTURE, dated as of May 12, 2004, between Safe Auto Group, Inc., an Ohio corporation (the “Company”), and U.S. Bank National Association, a national banking association organized under the laws of the United States of America, as debenture trustee (the “Trustee”).

     

    WITNESSETH:

     

    WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issuance of its Floating Rate Junior Subordinated
      Deferrable Interest Debentures due 2034 (the “Debentures”) under this Indenture to provide, among other things, for the execution and authentication, delivery
      and administration thereof, and the Company has duly authorized the execution of this Indenture; and

     

    WHEREAS, all acts and things necessary to make this Indenture a valid agreement according to its terms, have been done and performed;

     

    NOW, THEREFORE, in consideration of the premises, and the purchase of the Debentures by the holders thereof, the Company covenants and
      agrees with the Trustee for the equal and proportionate benefit of the respective holders from time to time of the Debentures as follows:

     

    ARTICLE I.

      DEFINITIONS

     

    Section 1.1.     Definitions. The terms defined in this Section 1.1 (except as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any
      indenture supplemental hereto shall have the respective meanings specified in this Section 1.1. All accounting terms used herein and not expressly defined shall have the meanings assigned to such terms in accordance with generally accepted accounting
      principles and the term “generally accepted accounting principles” means such accounting principles as are generally accepted in the United States at the time of any computation. The words “herein,” “hereof” and “hereunder” and other words of similar
      import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.

     

    “Additional Interest” has the meaning set forth
      in Section 2.11.

     

    “Additional Junior Indebtedness” means, without
      duplication and other than the Debentures, (a) any indebtedness, liabilities or obligations of the Company, or any Subsidiary of the Company, under debt securities (or guarantees in respect of debt securities) initially issued on or after the date of
      this Indenture to any trust, or a trustee of a trust, partnership or other entity affiliated with the Company that is, directly or indirectly, a finance subsidiary (as such term is defined in Rule 3a-5 under the Investment Company Act of 1940) or
      other financing vehicle of the Company or any Subsidiary of the Company in connection with the issuance by that entity of preferred securities, (b) other securities that are issued either junior and subordinate to or on a pari passu basis with the Debentures or (c) any guarantees of the Company in respect of the equity or other securities of any entity referred to in clause (a).

     

    “Additional Sums” has the meaning set forth in
      Section 3.6.

    
      1

      
        
 

    

    “Affiliate” has the same meaning as given to
      that term in Rule 405 under the Securities Act or any successor rule thereunder.

     

    “Authenticating Agent” means any agent or
      agents of the Trustee which at the time shall be appointed and acting pursuant to Section 6.12.

     

    “Bankruptcy Law” means Title 11, U.S. Code, or
      any similar federal or state law for the relief of debtors.

     

    “Board of Directors” means the board of
      directors or the executive committee or any other duly authorized designated officers of the Company.

     

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

     

    “Business Day” means any day other than a
      Saturday, Sunday or any other day on which banking institutions in New York City or Hartford, Connecticut are permitted or required by any applicable law to close.

     

    “Capital Securities” means undivided beneficial
      interests in the assets of the Trust which rank pari passu with Common Securities issued by the Trust; provided, however, that upon the occurrence and during the continuation of an Event of Default (as defined in
      the Declaration), the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital Securities.

     

    “Capital Securities Guarantee” means the
      guarantee agreement that the Company enters into with U.S. Bank National Association, as guarantee trustee, or other Persons that operates directly or indirectly for the benefit of holders of Capital Securities of the Trust.

     

    “Certificate” means a certificate signed by any
      one of the principal executive officer, the principal financial officer or the principal accounting officer of the Company.

     

    “Common Securities” means undivided beneficial
      interests in the assets of the Trust which rank pari passu with Capital Securities issued by the Trust; provided, however, that upon the occurrence and during the continuation of an Event of Default
      (as defined in the Declaration), the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital Securities.

     

    “Company” means Safe Auto Group, Inc., an Ohio
      corporation, and, subject to the provisions of Article XI, shall include its successors and assigns.

     

    “Coupon Rate” has the meaning set forth in
      Section 2.8.

     

    “Debenture” or “Debentures” has the meaning stated in the first recital of this Indenture.

    
      2

      
        
 

    

    “Debenture Register” has the meaning specified
      in Section 2.5.

     

    “Declaration” means the Amended and Restated
      Declaration of Trust of the Trust, as amended or supplemented from time to time.

     

    “Default” means any event, act or condition
      that with notice or lapse of time, or both, would constitute an Event of Default.

     

    “Defaulted Interest” has the meaning set forth
      in Section 2.8.

     

    “Determination Date” has the meaning set forth
      in Section 2.10.

     

    “Distribution Period” means (i) with respect to
      the first Interest Payment Date, the period beginning on (and including) the date of original issuance and ending on (but excluding) the Interest Payment Date in September 2004 and (ii) thereafter, with respect to each Interest Payment Date, the
      period beginning on (and including) the preceding Interest Payment Date and ending on (but excluding) such current Interest Payment Date.

     

    “Event of Default” means any event specified in
      Section 5.1, continued for the period of time, if any, and after the giving of the notice, if any, therein designated.

     

    “Extension Period” has the meaning set forth in
      Section 2.11.

     

    “Indenture” means this instrument as originally
      executed or, if amended or supplemented as herein provided, as so amended or supplemented, or both.

     

    “Institutional Trustee” has the meaning set
      forth in the Declaration.

     

    “Interest Payment Date” means each March 17,
      June 17, September 17 and December 17 of each year during the term of this Indenture, or if any such day is not a Business Day, then the next succeeding Business Day, commencing in September 2004.

     

    “Interest Rate” means for the period beginning
      on (and including) the date of original issuance and ending on (but excluding) the Interest Payment Date in September 2004 the rate per annum of 4.880% and for each Distribution Period thereafter, the Coupon Rate.

     

    “Investment Company Event” means the receipt by
      the Company and the Trust of an opinion of counsel experienced in such matters to the effect that, as a result of the occurrence of a change in law or regulation or written change (including any announced prospective change) in interpretation or
      application of law or regulation by any legislative body, court, governmental agency or regulatory authority, there is more than an insubstantial risk that the Trust is or, within 90 days of the date of such opinion will be considered an “investment
      company” that is required to be registered under the Investment Company Act of 1940, as amended, which change or prospective change becomes effective or would become effective, as the case may be, on or after the date of the issuance of the
      Debentures.

     

    “Liquidation Amount” means the stated amount of
      $1,000.00 per Trust Security.

    
      3

      
        
 

    

    “Maturity Date” means June 17, 2034.

     

    “Officers’ Certificate” means a certificate
      signed by the Chief Executive Officer, the Vice Chairman, the President, any Vice President, and by the Chief Financial Officer, the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company, and delivered to the
      Trustee. Each such certificate shall include the statements provided for in Section 14.6 if and to the extent required by the provisions of such Section.

     

    “Opinion of Counsel” means an opinion in
      writing signed by legal counsel, who may be an employee of or counsel to the Company, or may be other counsel reasonably satisfactory to the Trustee. Each such opinion shall include the statements provided for in Section 14.6 if and to the extent
      required by the provisions of such Section.

     

    “Optional Redemption Date” has the meaning set
      forth in Section 10.1.

     

    “Optional Redemption Price” means 100% of the
      principal amount of the Debentures being redeemed, plus accrued and unpaid interest (including any Additional Interest) on such Debentures to the Optional Redemption Date.

     

    The term “outstanding,” when used with
      reference to Debentures, means, subject to the provisions of Section 7.4, as of any particular time, all Debentures authenticated and delivered by the Trustee or the Authenticating Agent under this Indenture, except:

     

    (a)          Debentures theretofore canceled by the Trustee or the Authenticating Agent or delivered to the Trustee for cancellation;

     

    (b)          Debentures, or portions thereof, for the payment or redemption of which moneys in the necessary amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside and
        segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that, if such Debentures, or portions thereof, are to be redeemed prior to maturity thereof, notice of such redemption shall have been given as provided in Section 10.3 or provision satisfactory to the
        Trustee shall have been made for giving such notice; and

     

    (c)          Debentures paid pursuant to Section 2.6 or in lieu of or in substitution for which other Debentures shall have been authenticated and delivered pursuant to the terms of Section 2.6 unless proof satisfactory to the Company and the Trustee
        is presented that any such Debentures are held by bona fide holders in due course.

     

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

     

    “Predecessor Security” of any particular
      Debenture means every previous Debenture evidencing all or a portion of the same debt as that evidenced by such particular Debenture; and, for purposes of this definition, any Debenture authenticated and delivered under Section 2.6 in lieu of a lost,
      destroyed or stolen Debenture shall be deemed to evidence the same debt as the lost, destroyed or stolen Debenture.

    
      4

      
        
 

    

    “Principal Office of the Trustee,” or other
      similar term, means the office of the Trustee, at which at any particular time its corporate trust business shall be principally administered, which at the time of the execution of this Indenture shall be 225 Asylum Street, Goodwin Square, Hartford,
      Connecticut 06103.

     

    “Responsible Officer” means, with respect to
      the Trustee, any officer within the Principal Office of the Trustee, including any vice-president, any assistant vice-president, any secretary, any assistant secretary, the treasurer, any assistant treasurer, any trust officer or other officer of the
      Principal Trust Office of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is
      referred because of that officer’s knowledge of and familiarity with the particular subject.

     

    “Securities Act” means the Securities Act of
      1933, as amended from time to time or any successor legislation.

     

    “Securityholder,” “holder of Debentures,” or other similar terms, means any Person in whose name at the time a particular Debenture is registered on the register kept by the Company or the Trustee for
      that purpose in accordance with the terms hereof.

     

    “Senior Indebtedness” means, with respect to
      the Company, (i) the principal, premium, if any, and interest in respect of (A) indebtedness of the Company for money borrowed and (B) indebtedness evidenced by securities, debentures, notes, bonds or other similar instruments issued by the Company;
      (ii) all capital lease obligations of the Company; (iii) all obligations of the Company issued or assumed as the deferred purchase price of property, all conditional sale obligations of the Company and all obligations of the Company under any title
      retention agreement; (iv) all obligations of the Company for the reimbursement of any letter of credit, any banker’s acceptance, any security purchase facility, any repurchase agreement or similar arrangement, any interest rate swap, any other
      hedging arrangement, any obligation under options or any similar credit or other transaction; (v) all obligations of the type referred to in clauses (i) through (iv) above of other Persons for the payment of which the Company is responsible or liable
      as obligor, guarantor or otherwise; and (vi) all obligations of the type referred to in clauses (i) through (v) above of other Persons secured by any lien on any property or asset of the Company (whether or not such obligation is assumed by the
      Company), whether incurred on or prior to the date of this Indenture or thereafter incurred. Notwithstanding the foregoing, “Senior Indebtedness” shall not include (1) any Additional Junior Indebtedness, (2) Debentures issued pursuant to this
      Indenture and guarantees in respect of such Debentures, (3) trade accounts payable of the Company arising in the ordinary course of business (such trade accounts payable being pari passu in right of payment to the Debentures), or (4) obligations with respect to which (a) in the instrument creating or evidencing the same or pursuant to which the same is outstanding, it is provided that
      such obligations are pari passu, junior or otherwise not superior in right of payment to the Debentures and (b) the Company, prior to the issuance
      thereof, has, if required, notified the relevant state insurance regulatory agency. Senior Indebtedness shall continue to be Senior Indebtedness and be entitled to the subordination provisions irrespective of any amendment, modification or waiver of
      any term of such Senior Indebtedness.

    
      5

      
        
 

    

    “Special Event” means either of an Investment
      Company Event or a Tax Event.

     

    “Special Redemption Date” has the meaning set
      forth in Section 10.2.

     

    “Special Redemption Price” means (i) 107.5% of
      the principal amount of the Debentures being redeemed on a Special Redemption Date that occurs before the Interest Payment Date in June 2009 and (ii) 100% of the principal amount of the Debentures being redeemed on a Special Redemption Date that
      occurs on the Interest Payment Date in June 2009 or thereafter, plus accrued and unpaid interest (including any Additional Interest) on such Debentures to the Special Redemption Date.

     

    “Subsidiary” means with respect to any Person,
      (i) any corporation or limited liability company at least a majority of the outstanding voting stock of which is owned, directly or indirectly, by such Person or by one or more of its Subsidiaries, or by such Person and one or more of its
      Subsidiaries, (ii) any general partnership, joint venture or similar entity, at least a majority of the outstanding partnership or similar interests of which shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such
      Person and one or more of its Subsidiaries and (iii) any limited partnership of which such Person or any of its Subsidiaries is a general partner. For the purposes of this definition, “voting stock” means shares, interests, participations or other
      equivalents in the equity interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests, participations or other equivalents
      having such power only by reason of the occurrence of a contingency.

     

    “Tax Event” means the receipt by the Company
      and the Trust of an opinion of counsel experienced in such matters to the effect that, as a result of any amendment to or change (including any announced prospective change) in the laws or any regulations thereunder of the United States or any
      political subdivision or taxing authority thereof or therein, or as a result of any official administrative pronouncement (including any private letter ruling, technical advice memorandum, field service advice, regulatory procedure, notice or
      announcement, including any notice or announcement of intent to adopt such procedures or regulations (an “Administrative Action”)) or judicial decision
      interpreting or applying such laws or regulations, regardless of whether such Administrative Action or judicial decision is issued to or in connection with a proceeding involving the Company or the Trust and whether or not subject to review or
      appeal, which amendment, clarification, change, Administrative Action or decision is enacted, promulgated or announced, in each case on or after the date of original issuance of the Debentures, there is more than an insubstantial risk that: (i) the
      Trust is, or will be within 90 days of the date of such opinion, subject to United States federal income tax with respect to income received or accrued on the Debentures; (ii) interest payable by the Company on the Debentures is not, or within 90
      days of the date of such opinion, will not be, deductible by the Company, in whole or in part, for United States federal income tax purposes; or (iii) the Trust is, or will be within 90 days of the date of such opinion, subject to more than a de
      minimis amount of other taxes (excluding withholding taxes), duties or other governmental charges.

     

    “Telerate Page 3750” has the meaning set forth
      in Section 2.10.

     

    “3-Month LIBOR” has the meaning set forth in
      Section 2.10.

    
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    “Trust” shall mean SAG Statutory Trust I, a
      Connecticut statutory trust, or any other similar trust created for the purpose of issuing Capital Securities in connection with the issuance of Debentures under this Indenture, of which the Company is the sponsor.

     

    “Trustee” means U.S. Bank National Association,
      and, subject to the provisions of Article VI hereof, shall also include its successors and assigns as Trustee hereunder.

     

    “Trust Securities” means Common Securities and
      Capital Securities of the Trust.

     

    ARTICLE II.

      DEBENTURES

     

    Section 2.1.     Authentication and Dating. Upon the execution and delivery of this Indenture, or from time to time thereafter, Debentures in an aggregate principal amount not in excess of $13,403,000
      may be executed and delivered by the Company to the Trustee for authentication, and the Trustee shall thereupon authenticate and make available for delivery said Debentures to or upon the written order of the Company, signed by its Chief Executive
      Officer, the President, or one of its Vice Presidents without any further action by the Company hereunder. In authenticating such Debentures, and accepting the additional responsibilities under this Indenture in relation to such Debentures, the
      Trustee shall be entitled to receive, and (subject to Section 6.1) shall be fully protected in relying upon:

     

    (a)           a copy of any Board Resolution or Board Resolutions relating thereto and, if applicable, an appropriate record of any action taken pursuant to such resolution, in each case certified by the Secretary or an Assistant Secretary of the
        Company, as the case may be; and

     

    (b)           an Opinion of Counsel prepared in accordance with Section 14.6 which shall also state:

     

    (1)          that such Debentures, when authenticated and delivered by the Trustee and issued by the Company in each case in the manner and subject to any conditions specified in such Opinion of Counsel, will have been duly authorized,
        executed and delivered by the Company, will be entitled to the benefits of this Indenture and will be legal, valid and binding obligations of the Company enforceable against the Company in accordance with their terms, subject to the effect of
        bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the rights and remedies of creditors generally and of general principles of equity; and

     

    (2)          that all laws and requirements in respect of the execution and delivery by the Company of the Debentures have been complied with and that authentication and delivery of the Debentures by the Trustee will not violate the terms
        of this Indenture.

     

    The Trustee shall have the right to decline to authenticate and deliver any Debentures under this Section if the Trustee, being advised
      in writing by counsel, determines that such action may not lawfully be taken or if a Responsible Officer of the Trustee in good faith shall determine that such action would expose the Trustee to personal liability to existing holders.

    
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    The definitive Debentures shall be typed, printed, lithographed or engraved on steel engraved borders or may be produced in any other
      manner, all as determined by the officers executing such Debentures, as evidenced by their execution of such Debentures.

     

    Section 2.2.     Form of Trustee’s Certificate of Authentication. The Trustee’s certificate of authentication on all Debentures shall be in substantially the following form:

     

    This is one of the Debentures referred to in the within-mentioned Indenture.

     

    U.S. Bank National Association, as Trustee

     

    
      By _______________________________________

      Authorized Signer

    

    

     

    Section 2.3.     Form and Denomination of Debentures. The Debentures shall be substantially in the form of Exhibit A attached hereto. The Debentures shall be in registered, certificated form without
      coupons and in minimum denominations of $100,000.00 and any multiple of $1,000.00 in excess thereof. Any attempted transfer of the Debentures in a block having an aggregate principal amount of less than $100,000.00 shall be deemed to be void and of
      no legal effect whatsoever. Any such purported transferee shall be deemed not to be a holder of such Debentures for any purpose, including, but not limited to the receipt of payments on such Debentures, and such purported transferee shall be deemed
      to have no interest whatsoever in such Debentures. The Debentures shall be numbered, lettered, or otherwise distinguished in such manner or in accordance with such plans as the officers executing the same may determine with the approval of the
      Trustee as evidenced by the execution and authentication thereof.

     

    Section 2.4.     Execution of Debentures. The Debentures shall be signed in the name and on behalf of the Company by the manual or facsimile signature of its Chief Executive Officer, President, or one
      of its Executive Vice Presidents, Senior Vice Presidents or Vice Presidents. Only such Debentures as shall bear thereon a certificate of authentication substantially in the form herein before recited, executed by the Trustee or the Authenticating
      Agent by the manual signature of an authorized signer, shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee or the Authenticating Agent upon any Debenture executed by the
      Company shall be conclusive evidence that the Debenture so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture.

     

    In case any officer of the Company who shall have signed any of the Debentures shall cease to be such officer before the Debentures so
      signed shall have been authenticated and delivered by the Trustee or the Authenticating Agent, or disposed of by the Company, such Debentures nevertheless may be authenticated and delivered or disposed of as though the Person who signed such
      Debentures had not ceased to be such officer of the Company; and any Debenture may be signed on behalf of the Company by such Persons as, at the actual date of the execution of such Debenture, shall be the proper officers of the Company, although at
      the date of the execution of this Indenture any such person was not such an officer.

     

    Every Debenture shall be dated the date of its authentication.

    
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    Section 2.5.     Exchange and Registration of Transfer of Debentures. The Company shall cause to be kept, at the office or agency maintained for the purpose of registration of transfer and for exchange
      as provided in Section 3.2, a register (the “Debenture Register”) for the Debentures issued hereunder in which, subject to such reasonable regulations as it may
      prescribe, the Company shall provide for the registration and transfer of all Debentures as in this Article II provided. The Debenture Register shall be in written form or in any other form capable of being converted into written form within a
      reasonable time.

     

    Debentures to be exchanged may be surrendered at the Principal Office of the Trustee or at any office or agency to be maintained by the
      Company for such purpose as provided in Section 3.2, and the Company shall execute, the Company or the Trustee shall register and the Trustee or the Authenticating Agent shall authenticate and make available for delivery in exchange therefor the
      Debenture or Debentures which the Securityholder making the exchange shall be entitled to receive. Upon due presentment for registration of transfer of any Debenture at the Principal Office of the Trustee or at any office or agency of the Company
      maintained for such purpose as provided in Section 3.2, the Company shall execute, the Company or the Trustee shall register and the Trustee or the Authenticating Agent shall authenticate and make available for delivery in the name of the transferee
      or transferees a new Debenture for a like aggregate principal amount. Registration or registration of transfer of any Debenture by the Trustee or by any agent of the Company appointed pursuant to Section 3.2, and delivery of such Debenture, shall be
      deemed to complete the registration or registration of transfer of such Debenture.

     

    All Debentures presented for registration of transfer or for exchange or payment shall (if so required by the Company or the Trustee or
      the Authenticating Agent) be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and the Trustee or the Authenticating Agent duly executed by the holder or his attorney duly
      authorized in writing.

     

    No service charge shall be made for any exchange or registration of transfer of Debentures, but the Company or the Trustee may require
      payment of a sum sufficient to cover any tax, fee or other governmental charge that may be imposed in connection therewith.

     

    The Company or the Trustee shall not be required to exchange or register a transfer of any Debenture for a period of 15 days next
      preceding the date of selection of Debentures for redemption.

     

    Notwithstanding anything herein to the contrary, Debentures may not be transferred except in compliance with the restricted securities
      legend set forth below, unless otherwise determined by the Company, upon the advice of counsel expert in securities law, in accordance with applicable law:

    
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    THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), ANY STATE SECURITIES LAWS OR
      ANY OTHER APPLICABLE SECURITIES LAW. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
      TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ANY APPLICABLE STATE OR OTHER SECURITIES LAWS. THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER
      THIS SECURITY ONLY (A) TO THE COMPANY, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING
      THE REQUIREMENTS OF RULE 144A SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A IN ACCORDANCE WITH RULE 144A, (D) TO A NON-U.S. PERSON IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE 904 (AS APPLICABLE) OF
      REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (A) OF RULE 501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THIS SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN
      INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO IT IN ACCORDANCE WITH THE INDENTURE,
      A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY.

     

    THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF ALSO AGREES, REPRESENTS AND WARRANTS THAT IT IS NOT AN EMPLOYEE BENEFIT, INDIVIDUAL
      RETIREMENT ACCOUNT OR OTHER PLAN OR ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) (EACH A “PLAN”), OR AN
      ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY, AND NO PERSON INVESTING “PLAN ASSETS” OF ANY PLAN MAY ACQUIRE OR HOLD THE SECURITIES OR ANY INTEREST THEREIN, UNLESS SUCH PURCHASER OR HOLDER IS
      ELIGIBLE FOR EXEMPTIVE RELIEF AVAILABLE UNDER U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE EXEMPTION OR ITS PURCHASE AND HOLDING OF THIS SECURITY IS NOT PROHIBITED BY SECTION
      406 OF ERISA OR SECTION 4975 OF THE CODE WITH RESPECT TO SUCH PURCHASE OR HOLDING. ANY PURCHASER OR HOLDER OF THE SECURITIES OR ANY INTEREST THEREIN WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING THEREOF THAT EITHER (i) IT IS NOT AN
      EMPLOYEE BENEFIT PLAN WITHIN THE MEANING OF SECTION 3(3) OF ERISA, OR A PLAN TO WHICH SECTION 4975 OF THE CODE IS APPLICABLE, A TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF AN EMPLOYEE BENEFIT PLAN OR PLAN, OR ANY OTHER PERSON OR ENTITY USING THE
      ASSETS OF ANY EMPLOYEE BENEFIT PLAN OR PLAN TO FINANCE SUCH PURCHASE, OR (ii) SUCH PURCHASE WILL NOT RESULT IN A PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE FOR WHICH THERE IS NO APPLICABLE STATUTORY OR
      ADMINISTRATIVE EXEMPTION.

    
      10

      
        
 

    

    THIS SECURITY WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN BLOCKS HAVING AN AGGREGATE PRINCIPAL AMOUNT OF NOT LESS THAN $100,000.00 AND
      MULTIPLES OF $1,000.00 IN EXCESS THEREOF. ANY ATTEMPTED TRANSFER OF THIS SECURITY IN A BLOCK HAVING AN AGGREGATE PRINCIPAL AMOUNT OF LESS THAN $100,000.00 SHALL BE DEEMED TO BE VOID AND OF NO LEGAL EFFECT WHATSOEVER.

     

    THE HOLDER OF THIS SECURITY AGREES THAT IT WILL COMPLY WITH THE FOREGOING RESTRICTIONS.

     

    THIS SECURITY IS IN REGISTERED FORM WITHIN THE MEANING OF TREASURY REGULATIONS SECTION 1.871-14(c)(1)(i) FOR U.S. FEDERAL INCOME AND
      WITHHOLDING TAX PURPOSES.

     

    IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS
      MAY BE REQUIRED BY THE INDENTURE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.

     

    Section 2.6.          Mutilated, Destroyed, Lost or Stolen Debentures. In case any Debenture shall become mutilated or be destroyed, lost or stolen, the Company shall execute, and upon its written
      request the Trustee shall authenticate and deliver, a new Debenture bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Debenture, or in lieu of and in substitution for the Debenture so destroyed, lost
      or stolen. In every case the applicant for a substituted Debenture shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the
      applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of such Debenture and of the ownership thereof.

     

    The Trustee may authenticate any such substituted Debenture and deliver the same upon the written request or authorization of any officer
      of the Company. Upon the issuance of any substituted Debenture, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith.
      In case any Debenture which has matured or is about to mature or has been called for redemption in full shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Debenture, pay or authorize the payment
      of the same (without surrender thereof except in the case of a mutilated Debenture) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless
      and, in case of destruction, loss or theft, evidence satisfactory to the Company and to the Trustee of the destruction, loss or theft of such Debenture and of the ownership thereof.

    
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    Every substituted Debenture issued pursuant to the provisions of this Section 2.6 by virtue of the fact that any such Debenture is
      destroyed, lost or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Debenture shall be found at any time, and shall be entitled to all the benefits of this Indenture equally and
      proportionately with any and all other Debentures duly issued hereunder. All Debentures shall be held and owned upon the express condition that, to the extent permitted by applicable law, the foregoing provisions are exclusive with respect to the
      replacement or payment of mutilated, destroyed, lost or stolen Debentures and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or
      payment of negotiable instruments or other securities without their surrender.

     

    Section 2.7.     Temporary Debentures. Pending the preparation of definitive Debentures, the Company may execute and the Trustee shall authenticate and make available for delivery temporary Debentures
      that are typed, printed or lithographed. Temporary Debentures shall be issuable in any authorized denomination, and substantially in the form of the definitive Debentures in lieu of which they are issued but with such omissions, insertions and
      variations as may be appropriate for temporary Debentures, all as may be determined by the Company. Every such temporary Debenture shall be executed by the Company and be authenticated by the Trustee upon the same conditions and in substantially the
      same manner, and with the same effect, as the definitive Debentures. Without unreasonable delay the Company will execute and deliver to the Trustee or the Authenticating Agent definitive Debentures and thereupon any or all temporary Debentures may be
      surrendered in exchange therefor, at the principal corporate trust office of the Trustee or at any office or agency maintained by the Company for such purpose as provided in Section 3.2, and the Trustee or the Authenticating Agent shall authenticate
      and make available for delivery in exchange for such temporary Debentures a like aggregate principal amount of such definitive Debentures. Such exchange shall be made by the Company at its own expense and without any charge therefor except that in
      case of any such exchange involving a registration of transfer the Company may require payment of a sum sufficient to cover any tax, fee or other governmental charge that may be imposed in relation thereto. Until so exchanged, the temporary
      Debentures shall in all respects be entitled to the same benefits under this Indenture as definitive Debentures authenticated and delivered hereunder.

     

    Section 2.8.     Payment of Interest and Additional Interest. Interest at the Interest Rate and any Additional Interest on any Debenture that is payable, and is punctually paid or duly provided for, on
      any Interest Payment Date for Debentures shall be paid to the Person in whose name said Debenture (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment except that
      interest and any Additional Interest payable on the Maturity Date shall be paid to the Person to whom principal is paid.

     

    Each Debenture shall bear interest for the period beginning on (and including) the date of original issuance and ending on (but
      excluding) the Interest Payment Date in September 2004 at a rate per annum of 4.880%, and shall bear interest for each successive period beginning on or after the Interest Payment Date in September 2004 at a rate per annum equal to the 3-Month LIBOR,
      determined as described in Section 2.10, plus 3.70% (the “Coupon Rate”), applied to the principal amount thereof, until the principal thereof becomes due and
      payable, and on any overdue principal and to the extent that payment of such interest is enforceable under applicable law (without duplication) on any overdue installment of interest (including Additional Interest) at the Interest Rate in effect for
      each applicable period compounded quarterly. Interest shall be payable (subject to any relevant Extension Period) quarterly in arrears on each Interest Payment Date with the first installment of interest to be paid on the Interest Payment Date in
      September 2004.

    
      12

      
        
 

    

    Any interest on any Debenture, including Additional Interest, that is payable, but is not punctually paid or duly provided for, on any
      Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by
      virtue of having been such holder; and such Defaulted Interest shall be paid by the Company to the Persons in whose names such Debentures (or their respective Predecessor Securities) are registered at the close of business on a special record date
      for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing at least 25 days prior to the date of the proposed payment of the amount of Defaulted Interest proposed to be
      paid on each such Debenture and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make
      arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided.
      Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the
      Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the
      special record date therefor to be mailed, first class postage prepaid, to each Securityholder at its address as it appears in the Debenture Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such
      Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Debentures (or their respective Predecessor Securities) are registered on such special
      record date and shall be no longer payable.

     

    The Company may make payment of any Defaulted Interest on any Debentures in any other lawful manner after notice given by the Company to
      the Trustee of the proposed payment method; provided, however, the
      Trustee in its sole discretion deems such payment method to be practical.

     

    Any interest (including Additional Interest) scheduled to become payable on an Interest Payment Date occurring during an Extension Period
      shall not be Defaulted Interest and shall be payable on such other date as may be specified in the terms of such Debentures.

     

    The term “regular record date” as used in this Section shall mean the close of business on the 15th calendar day next preceding the applicable Interest Payment Date.

     

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

    
      13

      
        
 

    

    Section 2.9.     Cancellation of Debentures Paid, etc.  All

      Debentures surrendered for the purpose of payment, redemption, exchange or registration of transfer, shall, if surrendered to the Company or any paying agent, be surrendered to the Trustee and promptly canceled by it, or, if surrendered to the
      Trustee or any Authenticating Agent, shall be promptly canceled by it, and no Debentures shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. All Debentures canceled by any Authenticating Agent
      shall be delivered to the Trustee. The Trustee shall destroy all canceled Debentures unless the Company otherwise directs the Trustee in writing. If the Company shall acquire any of the Debentures, however, such acquisition shall not operate as a
      redemption or satisfaction of the indebtedness represented by such Debentures unless and until the same are surrendered to the Trustee for cancellation.

     

    Section 2.10.   Computation of Interest. The amount of interest payable for the Distribution Period commencing on the Interest Payment Date in September 2004 and each succeeding Distribution Period
      will be calculated by applying the Interest Rate to the principal amount outstanding at the commencement of the Distribution Period and multiplying each such amount by the actual number of days in the Distribution Period concerned divided by 360. All
      percentages resulting from any calculations on the Debentures will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with five one-millionths of a percentage point rounded upward (e.g., 9.876545% (or .09876545)
      being rounded to 9.87655% (or .0987655), and all dollar amounts used in or resulting from such calculation will be rounded to the nearest cent (with one-half cent being rounded upward)).

     

    (a)           “3-Month LIBOR” means the London interbank offered interest rate for three-month, U.S. dollar deposits determined by the Trustee in the following
        order of priority:

     

    (1)          the rate (expressed as a percentage per annum) for U.S. dollar deposits having a three-month maturity that appears on Telerate Page 3750 as of 11:00 a.m. (London time) on the related Determination Date (as defined below).
        “Telerate Page 3750” means the display designated as “Page 3750” on the Dow Jones Telerate Service or such other page as may replace Page 3750 on that service or such other service or services as may be nominated by the British Bankers’ Association
        as the information vendor for the purpose of displaying London interbank offered rates for U.S. dollar deposits;

     

    (2)          if such rate cannot be identified on the related Determination Date, the Trustee will request the principal London offices of four leading banks in the London interbank market to provide such banks’ offered quotations
        (expressed as percentages per annum) to prime banks in the London interbank market for U.S. dollar deposits having a three-month maturity as of 11:00 a.m. (London time) on such Determination Date. If at least two quotations are provided, 3-Month
        LIBOR will be the arithmetic mean of such quotations;

    
      14

      
        
 

    

    (3)          if fewer than two such quotations are provided as requested in clause (2) above, the Trustee will request four major New York City banks to provide such banks’ offered quotations (expressed as percentages per annum) to
        leading European banks for loans in U.S. dollars as of 11:00 a.m. (London time) on such Determination Date. If at least two such quotations are provided, 3-Month LIBOR will be the arithmetic mean of such quotations; and

     

    (4)          if fewer than two such quotations are provided as requested in clause (3) above, 3-Month LIBOR will be a 3-Month LIBOR determined with respect to the Distribution Period immediately preceding such current Distribution Period.

     

    If the rate for U.S. dollar deposits having a three-month maturity that initially appears on Telerate Page 3750 as of 11:00 a.m. (London
      time) on the related Determination Date is superseded on the Telerate Page 3750 by a corrected rate by 12:00 noon (London time) on such Determination Date, then the corrected rate as so substituted on the applicable page will be the applicable
      3-Month LIBOR for such Determination Date.

     

    (b)           The Interest Rate for any Distribution Period will at no time be higher than the maximum rate then permitted by New York law as the same may be modified by United States law.

     

    (c)           “Determination Date” means the date that is two London Banking Days (i.e., a business day in which dealings in deposits in U.S. dollars are
        transacted in the London interbank market) preceding the particular Distribution Period for which a Coupon Rate is being determined.

     

    (d)           The Trustee shall notify the Company, the Institutional Trustee and any securities exchange or interdealer quotation system on which the Capital Securities are listed, of the Coupon Rate and the Determination Date for each Distribution
        Period, in each case as soon as practicable after the determination thereof but in no event later than the thirtieth (30th) day of the relevant Distribution Period. Failure to notify the Company, the Institutional Trustee or any securities exchange
        or interdealer quotation system, or any defect in said notice, shall not affect the obligation of the Company to make payment on the Debentures at the applicable Coupon Rate. Any error in the calculation of the Coupon Rate by the Trustee may be
        corrected at any time by notice delivered as above provided. Upon the request of a holder of a Debenture, the Trustee shall provide the Coupon Rate then in effect and, if determined, the Coupon Rate for the next Distribution Period.

     

    (e)           Subject to the corrective rights set forth above, all certificates, communications, opinions, determinations, calculations, quotations and decisions given, expressed, made or obtained for the purposes of the provisions relating to the
        payment and calculation of interest on the Debentures and distributions on the Capital Securities by the Trustee or the Institutional Trustee will (in the absence of willful default, bad faith and manifest error) be final, conclusive and binding on
        the Trust, the Company and all of the holders of the Debentures and the Capital Securities, and no liability shall (in the absence of willful default, bad faith or manifest error) attach to the Trustee or the Institutional Trustee in connection
        with the exercise or non-exercise by either of them of their respective powers, duties and discretion.

    
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    Section 2.11.   Extension of Interest Payment Period. So long as no Event of Default has occurred and is continuing, the Company shall have the right, from time to time, and without causing an Event of
      Default, to defer payments of interest on the Debentures by extending the interest payment period on the Debentures at any time and from time to time during the term of the Debentures, for up to 20 consecutive quarterly periods (each such extended
      interest payment period, an “Extension Period”), during which Extension Period no interest (including Additional Interest) shall be due and payable (except any
      Additional Sums that may be due and payable). No Extension Period may end on a date other than an Interest Payment Date. During an Extension Period, interest will continue to accrue on the Debentures, and interest on such accrued interest will accrue
      at an annual rate equal to the Interest Rate in effect for such Extension Period, compounded quarterly from the date such interest would have been payable were it not for the Extension Period, to the extent permitted by law (such interest referred to
      herein as “Additional Interest”). At the end of any such Extension Period the Company shall pay all interest then accrued and unpaid on the Debentures (together
      with Additional Interest thereon); provided, however, that no
      Extension Period may extend beyond the Maturity Date; provided further,
      however, that during any such Extension Period, the Company shall not and shall not permit any Affiliate of the Company controlled by the Company to (i) declare
      or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company’s or such Affiliate’s capital stock (other than payments of dividends or distributions to the Company or a
      Subsidiary of the Company) or make any guarantee payments with respect to the foregoing; or (ii) make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company or any Affiliate of
      the Company controlled by the Company that rank pari passu in all respects with or junior in interest to the Debentures (other than, with respect
      to clauses (i) and (ii) above, (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company or any Subsidiary of the Company in connection with any employment contract, benefit plan or other similar arrangement with or
      for the benefit of one or more employees, officers, directors or consultants, in connection with a dividend reinvestment or stockholder stock purchase plan or in connection with the issuance of capital stock of the Company or of such Subsidiary (or
      securities convertible into or exercisable for such capital stock) as consideration in an acquisition transaction entered into prior to the applicable Extension Period, (b) as a result of any reclassification, exchange or conversion of any class or
      series of the Company’s capital stock (or any capital stock of a Subsidiary of the Company) for any class or series of the Company’s capital stock (or in the case of a Subsidiary of the Company, any class or series of such Subsidiary’s capital stock)
      or of any class or series of the Company’s indebtedness for any class or series of the Company’s capital stock (or in the case of indebtedness of a Subsidiary of the Company, of any class or series of such Subsidiary’s indebtedness for any class or
      series of such Subsidiary’s capital stock), (c) the purchase of fractional interests in shares of the Company’s capital stock (or the capital stock of a Subsidiary of the Company) pursuant to the conversion or exchange provisions of such capital
      stock or the security being converted or exchanged or pursuant to a merger, consolidation or other business combination, (d) any declaration of a dividend in connection with any stockholders’ rights plan, or the issuance of rights, stock or other
      property under any stockholders’ rights plan, or the redemption or repurchase of rights pursuant thereto, (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such
      warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks pari passu with or junior to such stock and any cash payments in lieu of fractional shares issued in connection therewith, or (f) payments under the Capital Securities Guarantee).
      Prior to the termination of any Extension Period, the Company may further extend such period, provided that such period together with all such previous and further consecutive extensions thereof shall not exceed 20 consecutive quarterly periods, or
      extend beyond the Maturity Date. Upon the termination of any Extension Period and upon the payment of all accrued and unpaid interest and Additional Interest, the Company may commence a new Extension Period, subject to the foregoing requirements. No
      interest or Additional Interest shall be due and payable during an Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during an Extension Period shall bear Additional Interest
      to the extent permitted by applicable law. The Company must give the Trustee notice of its election to begin or extend an Extension Period at least 5 Business Days prior to the regular record date (as such term is used in Section 2.8) immediately
      preceding the Interest Payment Date with respect to which interest on the Debentures would have been payable except for the election to begin or extend an Extension Period. The Trustee shall give notice of the Company’s election to begin a new
      Extension Period to the Securityholders.

    
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    Section 2.12.   CUSIP Numbers. The Company in issuing the Debentures may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use CUSIP numbers in notices of redemption as a
      convenience to Securityholders; provided, however, that any such
      notice may state that no representation is made as to the correctness of such numbers either as printed on the Debentures or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed
      on the Debentures, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee in writing of any change in the CUSIP numbers.

     

    ARTICLE III.

      PARTICULAR COVENANTS OF THE COMPANY

     

    Section 3.1.          Payment of Principal, Premium and Interest; Agreed Treatment of the Debentures.

     

    (a)           The Company covenants and agrees that it will duly and punctually pay or cause to be paid the principal of and premium, if any, and interest and any Additional Interest and other payments on the Debentures at the place, at the respective
        times and in the manner provided in this Indenture and the Debentures. Each installment of interest on the Debentures may be paid (i) by mailing checks for such interest payable to the order of the holders of Debentures entitled thereto as they
        appear on the registry books of the Company if a request for a wire transfer has not been received by the Company or (ii) by wire transfer to any account with a banking institution located in the United States designated in writing by such Person
        to the paying agent no later than the related record date. Notwithstanding the foregoing, so long as the holder of this Debenture is the Institutional Trustee, the payment of the principal of and interest on this Debenture will be made in
        immediately available funds at such place and to such account as may be designated by the Institutional Trustee.

     

    (b)           The Company will treat the Debentures as indebtedness of the Company that is in registered form within the meaning of Treasury Regulations Section 1.871-14(c)(1)(i). The Company will further treat the amounts payable in respect of the
        principal amount of such Debentures as interest for all United States federal income and withholding tax purposes. All interest payments in respect of such Debentures will be made free and clear of United States withholding tax to any beneficial
        owner thereof that has provided an Internal Revenue Service Form W-8BEN (or any substitute or successor form) establishing its non-United States status for United States federal income and withholding tax purposes.

    
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    (c)            As of the date of this Indenture, the Company has no present intention to exercise its right under Section 2.11 to defer payments of interest on the Debentures by commencing an Extension Period.

     

    (d)           As of the date of this Indenture, the Company believes that the likelihood that it would exercise its right under Section 2.11 to defer payments of interest on the Debentures by commencing an Extension Period at any time during which the
        Debentures are outstanding is remote because of the restrictions that would be imposed on the Company’s ability to declare or pay dividends or distributions on, or to redeem, purchase or make a liquidation payment with respect to, any of its
        outstanding equity and on the Company’s ability to make any payments of principal of or interest on, or repurchase or redeem, any of its debt securities that rank pari passu in all respects with (or junior in interest to) the Debentures.

     

    Section 3.2.     Offices for Notices and Payments, etc.
         So long as any of the Debentures remain outstanding, the Company will maintain in Hartford, Connecticut, an office or agency where the Debentures may be presented for payment, an office or agency where the Debentures may be presented
      for registration of transfer and for exchange as in this Indenture provided and an office or agency where notices and demands to or upon the Company in respect of the Debentures or of this Indenture may be served. The Company will give to the Trustee
      written notice of the location of any such office or agency and of any change of location thereof. Until otherwise designated from time to time by the Company in a notice to the Trustee, or specified as contemplated by Section 2.5, such office or
      agency for all of the above purposes shall be the office or agency of the Trustee. In case the Company shall fail to maintain any such office or agency in Hartford, Connecticut, or shall fail to give such notice of the location or of any change in
      the location thereof, presentations and demands may be made and notices may be served at the Principal Office of the Trustee.

     

    In addition to any such office or agency, the Company may from time to time designate one or more offices or agencies outside Hartford,
      Connecticut, where the Debentures may be presented for registration of transfer and for exchange in the manner provided in this Indenture, and the Company may from time to time rescind such designation, as the Company may deem desirable or expedient;
      provided, however, that no such designation or rescission shall in
      any manner relieve the Company of its obligation to maintain any such office or agency in Hartford, Connecticut, for the purposes above mentioned. The Company will give to the Trustee prompt written notice of any such designation or rescission
      thereof.

     

    Section 3.3.     Appointments to Fill Vacancies in Trustee’s Office. The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section
      6.9, a Trustee, so that there shall at all times be a Trustee hereunder.

    
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    Section 3.4.     Provision as to Paying Agent.

     

    (a)          If the Company shall appoint a paying agent other than the Trustee, it will cause such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provision of this
        Section 3.4,

     

    (1)          that it will hold all sums held by it as such agent for the payment of the principal of and premium, if any, or interest, if any, on the Debentures (whether such sums have been paid to it by the Company or by any other obligor on the
        Debentures) in trust for the benefit of the holders of the Debentures;

     

    (2)          that it will give the Trustee prompt written notice of any failure by the Company (or by any other obligor on the Debentures) to make any payment of the principal of and premium, if any, or interest, if any, on the Debentures when the same
        shall be due and payable; and

     

    (3)          that it will, at any time during the continuance of any Event of Default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent.

     

    (b)          If the Company shall act as its own paying agent, it will, on or before each due date of the principal of and premium, if any, or interest or other payments, if any, on the Debentures, set aside, segregate and hold in trust for the benefit
        of the holders of the Debentures a sum sufficient to pay such principal, premium, interest or other payments so becoming due and will notify the Trustee in writing of any failure to take such action and of any failure by the Company (or by any
        other obligor under the Debentures) to make any payment of the principal of and premium, if any, or interest or other payments, if any, on the Debentures when the same shall become due and payable.

     

    Whenever the Company shall have one or more paying agents for the Debentures, it will, on or prior to each due date of the principal of
      and premium, if any, or interest, if any, on the Debentures, deposit with a paying agent a sum sufficient to pay the principal, premium, interest or other payments so becoming due, such sum to be held in trust for the benefit of the Persons entitled
      thereto and (unless such paying agent is the Trustee) the Company shall promptly notify the Trustee in writing of its action or failure to act.

     

    (c)          Anything in this Section 3.4 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a satisfaction and discharge with respect to the Debentures, or for any other reason, pay, or direct any paying agent
        to pay to the Trustee all sums held in trust by the Company or any such paying agent, such sums to be held by the Trustee upon the trusts herein contained.

     

    (d)          Anything in this Section 3.4 to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section 3.4 is subject to Sections 12.3 and 12.4.

     

    Section 3.5.     Certificate to Trustee. The Company will deliver to the Trustee on or before 120 days after the end of each fiscal year, so long as Debentures are outstanding hereunder, a Certificate
      stating that in the course of the performance by the signers of their duties as officers of the Company they would normally have knowledge of any default during such fiscal year by the Company in the performance of any covenants contained herein,
      stating whether or not they have knowledge of any such default and, if so, specifying each such default of which the signers have knowledge and the nature and status thereof.

    
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    Section 3.6.     Additional Sums. If and for so long as the Trust or a trustee of the Trust is the holder of all Debentures and the Trust is required to pay any additional taxes (excluding withholding
      taxes), duties, assessments or other governmental charges as a result of a Tax Event, then the Company will pay such additional amounts (“Additional Sums”) on
      the Debentures as shall be required so that the net amounts received and retained by the Trust after paying such taxes (excluding withholding taxes), duties, assessments or other governmental charges will be equal to the amounts the Trust would have
      received if no such taxes (excluding withholding taxes), duties, assessments or other governmental charges had been imposed. Whenever in this Indenture or the Debentures there is a reference in any context to the payment of principal of or interest
      on the Debentures, such mention shall be deemed to include mention of payments of the Additional Sums provided for in this paragraph to the extent that, in such context, Additional Sums are, were or would be payable in respect thereof pursuant to the
      provisions of this paragraph and express mention of the payment of Additional Sums (if applicable) in any provisions hereof shall not be construed as excluding Additional Sums in those provisions hereof where such express mention is not made; provided, however, that the deferral of the payment of interest during an
      Extension Period pursuant to Section 2.11 shall not defer the payment of any Additional Sums that may be due and payable.

     

    Section 3.7.     Compliance with Consolidation Provisions. The Company will not, while any of the Debentures remain outstanding, consolidate with, or merge into, or merge into itself, or sell or convey
      all or substantially all of its property to any other Person unless the provisions of Article XI hereof are complied with.

     

    Section 3.8.     Limitation on Dividends. If Debentures are initially issued to the Trust or a trustee of such Trust in connection with the issuance of Trust Securities by the Trust (regardless of
      whether Debentures continue to be held by such Trust) and (i) there shall have occurred and be continuing an Event of Default, (ii) the Company shall be in default with respect to its payment of any obligations under the Capital Securities Guarantee,
      or (iii) the Company shall have given notice of its election to defer payments of interest on the Debentures by extending the interest payment period as provided herein and such period, or any extension thereof, shall be continuing, then the Company
      shall not, and shall not permit any Affiliate of the Company controlled by the Company to, (x) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company’s or such
      Affiliates’ capital stock (other than payments of dividends or distributions to the Company or a Subsidiary of the Company) or make any guarantee payments with respect to the foregoing or (y) make any payment of principal of or interest or premium,
      if any, on or repay, repurchase or redeem any debt securities of the Company or any Affiliate of the Company controlled by the Company that rank pari
        passu in all respects with or junior in interest to the Debentures (other than, with respect to clauses (x) and (y) above, (1) repurchases, redemptions or other acquisitions of shares of capital stock of the Company or any Subsidiary of the
      Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of one or more employees, officers, directors or consultants, in connection with a dividend reinvestment or stockholder stock
      purchase plan or in connection with the issuance of capital stock of the Company or of such Subsidiary (or securities convertible into or exercisable for such capital stock) as consideration in an acquisition transaction entered into prior to the
      applicable Extension Period, (2) as a result of any reclassification exchange or conversion of any class or series of the Company’s capital stock (or any capital stock of a Subsidiary of the Company) for any class or series of the Company’s capital
      stock (or in the case of a Subsidiary of the Company, any class or series of such Subsidiary’s capital stock) or of any class or series of the Company’s indebtedness for any class or series of the Company’s capital stock (or in the case of
      indebtedness of a Subsidiary of the Company, of any class or series of such Subsidiary’s indebtedness for any class or series of such Subsidiary’s capital stock), (3) the purchase of fractional interests in shares of the Company’s capital stock (or
      the capital stock of a Subsidiary of the Company) pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged or pursuant to a merger, consolidation or other business combination, (4) any
      declaration of a dividend in connection with any stockholders’ rights plan, or the issuance of rights, stock or other property under any stockholders’ rights plan, or the redemption or repurchase of rights pursuant thereto, (5) any dividend in the
      form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks pari passu with or junior to such stock and any cash payments in lieu of fractional shares issued in connection therewith, or (6) payments under the Capital Securities
      Guarantee).

    
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    Section 3.9.     Covenants as to the Trust. For so long as the Trust Securities remain outstanding, the Company shall maintain 100% ownership of the Common Securities; provided, however, that any permitted successor of the Company under this Indenture may succeed
      to the Company’s ownership of such Common Securities. The Company, as owner of the Common Securities, shall, except in connection with a distribution of Debentures to the holders of Trust Securities in liquidation of the Trust, the redemption of all
      of the Trust Securities or certain mergers, consolidations or amalgamations, each as permitted by the Declaration, cause the Trust (a) to remain a statutory trust, (b) to otherwise continue to be classified as a grantor trust for United States
      federal income tax purposes, and (c) to cause each holder of Trust Securities to be treated as owning an undivided beneficial interest in the Debentures.

     

    Section 3.10.   Additional Junior Indebtedness. The Company shall not, and it shall not cause or permit any Subsidiary of the Company to, incur, issue or be obligated on any Additional Junior
      Indebtedness, either directly or indirectly, by way of guarantee, suretyship or otherwise, other than Additional Junior Indebtedness that, by its terms, is expressly stated to be either junior and subordinate or pari passu in all respects to the Debentures.

     

    ARTICLE IV.

      SECURITYHOLDERS LISTS AND REPORTS

      BY THE COMPANY AND THE TRUSTEE

     

    Section 4.1.     Securityholders Lists. The Company covenants and agrees that it will furnish or cause to be furnished to the Trustee:

     

    (a)           on each regular record date for the Debentures, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Securityholders of the Debentures as of such record date; and

    
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    (b)           at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished;

    

     

    

    except that no such lists need be furnished under this Section 4.1 so long as the Trustee is in possession thereof by reason of its acting as Debenture registrar.

     

    Section 4.2.     Preservation and Disclosure of Lists.

     

    (a)           The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the holders of Debentures (1) contained in the most recent list furnished to it as provided in Section 4.1 or
        (2) received by it in the capacity of Debentures registrar (if so acting) hereunder. The Trustee may destroy any list furnished to it as provided in Section 4.1 upon receipt of a new list so furnished.

     

    (b)           In case three or more holders of Debentures (hereinafter referred to as “applicants”) apply in writing to the Trustee and furnish to the Trustee reasonable proof that each such applicant has owned a Debenture for a period of at least 6
        months preceding the date of such application, and such application states that the applicants desire to communicate with other holders of Debentures with respect to their rights under this Indenture or under such Debentures and is accompanied by a
        copy of the form of proxy or other communication which such applicants propose to transmit, then the Trustee shall within 5 Business Days after the receipt of such application, at its election, either:

     

    (1)      afford

        such applicants access to the information preserved at the time by the Trustee in accordance with the provisions of subsection (a) of this Section 4.2, or

     

    (2)      inform

        such applicants as to the approximate number of holders of Debentures whose names and addresses appear in the information preserved at the time by the Trustee in accordance with the provisions of subsection (a) of this Section 4.2, and as to the
        approximate cost of mailing to such Securityholders the form of proxy or other communication, if any, specified in such application.

     

    If the Trustee shall elect not to afford such applicants access to such information, the Trustee shall, upon the written request of such
      applicants, mail to each Securityholder whose name and address appear in the information preserved at the time by the Trustee in accordance with the provisions of subsection (a) of this Section 4.2 a copy of the form of proxy or other communication
      which is specified in such request with reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless within five days after such tender,
      the Trustee shall mail to such applicants and file with the Securities and Exchange Commission, if permitted or required by applicable law, together with a copy of the material to be mailed, a written statement to the effect that, in the opinion of
      the Trustee, such mailing would be contrary to the best interests of the holders of all Debentures, as the case may be, or would be in violation of applicable law. Such written statement shall specify the basis of such opinion. If said Commission, as
      permitted or required by applicable law, after opportunity for a hearing upon the objections specified in the written statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining
      one or more of such objections, said Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been met and shall enter an order so declaring, the Trustee shall mail copies of such material to all such
      Securityholders with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the Trustee shall be relieved of any obligation or duty to such applicants respecting their application.

    
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    (c)            Each and every holder of Debentures, by receiving and holding the same, agrees with Company and the Trustee that neither the Company nor the Trustee nor any paying agent shall be held accountable by reason of the disclosure of any such
        information as to the names and addresses of the holders of Debentures in accordance with the provisions of subsection (b) of this Section 4.2, regardless of the source from which such information was derived, and that the Trustee shall not be held
        accountable by reason of mailing any material pursuant to a request made under said subsection (b).

     

    ARTICLE V.

      REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS

      UPON AN EVENT OF DEFAULT

     

    Section 5.1.     Events of Default. “Event

      of Default,” wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order
      of any court or any order, rule or regulation of any administrative or governmental body):

     

    (a)           the Company defaults in the payment of any interest upon any Debenture when it becomes due and payable, and fails to cure such default for a period of 30 days; provided,
        however, that a valid extension of an interest payment period by the Company in accordance with the terms of this Indenture shall not constitute a default in
        the payment of interest for this purpose; or

     

    (b)           the Company defaults in the payment of all or any part of the principal of (or premium, if any, on) any Debentures as and when the same shall become due and payable either at maturity, upon redemption, by declaration of acceleration or
        otherwise; or

     

    (c)           the Company defaults in the performance of, or breaches, any of its covenants or agreements in this Indenture or in the terms of the Debentures established as contemplated in this Indenture (other than a covenant or agreement a default in
        whose performance or whose breach is elsewhere in this Section specifically dealt with), and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or
        to the Company and the Trustee by the holders of at least 25% in aggregate principal amount of the outstanding Debentures, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice
        of Default” hereunder; or

    
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    (d)           a court of competent jurisdiction shall enter a decree or order for relief in respect of the Company in an involuntary case under any applicable bankruptcy, insolvency, reorganization or other similar law now or hereafter in effect, or
        shall appoint a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Company or for any substantial part of its property, or shall order the winding-up or liquidation of its affairs and such decree or order
        shall remain unstayed and in effect for a period of 90 consecutive days; or

     

    (e)           the Company shall commence a voluntary case under any applicable bankruptcy, insolvency, reorganization or other similar law now or hereafter in effect, shall consent to the entry of an order for relief in an involuntary case under any
        such law, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of the Company or of any substantial part of its property, or shall make any
        general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due; or

     

    (f)            the Trust shall have voluntarily or involuntarily liquidated, dissolved, wound-up its business or otherwise terminated its existence except in connection with (i) the distribution of the Debentures to holders of the Trust Securities in
        liquidation of their interests in the Trust, (ii) the redemption of all of the outstanding Trust Securities or (iii) certain mergers, consolidations or amalgamations, each as permitted by the Declaration.

     

    If an Event of Default occurs and is continuing with respect to the Debentures, then, and in each and every such case, unless the
      principal of the Debentures shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Debentures then outstanding hereunder, by notice in writing to the Company (and to the
      Trustee if given by Securityholders), may declare the entire principal of the Debentures and the interest accrued thereon, if any, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable.

     

    The foregoing provisions, however, are subject to the condition that if, at any time after the principal of the Debentures shall have
      been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, (i) the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all
      matured installments of interest upon all the Debentures and the principal of and premium, if any, on the Debentures which shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any, and Additional
      Interest) and such amount as shall be sufficient to cover reasonable compensation of the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and all other amounts due to the Trustee pursuant to Section 6.6, if any,
      and (ii) all Events of Default under this Indenture, other than the non-payment of the principal of or premium, if any, on the Debentures which shall have become due by acceleration, shall have been cured, waived or otherwise remedied as provided
      herein -- then and in every such case the holders of a majority in aggregate principal amount of the Debentures then outstanding, by written notice to the Company and to the Trustee, may waive all defaults and rescind and annul such declaration and
      its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon.

    
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    In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or
      abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the holders of the Debentures shall be restored respectively to
      their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the holders of the Debentures shall continue as though no such proceeding had been taken.

     

    Section 5.2.     Payment of Debentures on Default; Suit Therefor. The Company covenants that upon the occurrence and during the continuation of an Event of Default pursuant to Section 5.1(a) or Section
      5.1(b) then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Debentures the whole amount that then shall have become due and payable on all Debentures for principal and premium, if any, or
      interest, or both, as the case may be, with Additional Interest accrued on the Debentures (to the extent that payment of such interest is enforceable under applicable law and, if the Debentures are held by the Trust or a trustee of such Trust,
      without duplication of any other amounts paid by the Trust or a trustee of the Trust in respect thereof); and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including a reasonable
      compensation to the Trustee, its agents, attorneys and counsel, and any other amounts due to the Trustee under Section 6.6. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of
      an express trust, shall be entitled and empowered to institute any actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may
      enforce any such judgment or final decree against the Company or any other obligor on such Debentures and collect in the manner provided by law out of the property of the Company or any other obligor on such Debentures wherever situated the moneys
      adjudged or decreed to be payable.

     

    In case there shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any other obligor on the
      Debentures under Bankruptcy Law, or in case a receiver or trustee shall have been appointed for the property of the Company or such other obligor, or in the case of any other similar judicial proceedings relative to the Company or other obligor upon
      the Debentures, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of the Debentures shall then be due and payable as therein expressed or by declaration of acceleration or
      otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section 5.2, shall be entitled and empowered, by intervention in such proceedings or otherwise,

     

    
      		(a)	
              to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Debentures,

            

    

     

    
      		(b)	
              in case of any judicial proceedings, to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
                Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all other amounts due to the Trustee under Section 6.6), and
                of the Securityholders allowed in such judicial proceedings relative to the Company or any other obligor on the Debentures, or to the creditors or property of the Company or such other obligor, unless prohibited by applicable law and
                regulations, to vote on behalf of the holders of the Debentures in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or Person performing similar
                functions in comparable proceedings,

            

    

    
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      		(c)	
              to collect and receive any moneys or other property payable or deliverable on any such claims, and

            

    

     

    
      		(d)	
              to distribute the same after the deduction of its charges and expenses.

            

    

     

    By its acceptance of any Debentures, each Securityholder shall be deemed to have authorized any receiver, assignee or trustee in bankruptcy or
      reorganization to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to the Securityholders, to pay to the Trustee such amounts as shall be sufficient to cover reasonable
      compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other amounts due to the Trustee under Section 6.6.

     

    Nothing herein contained shall be construed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
      Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Debentures or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding.

     

    All rights of action and of asserting claims under this Indenture, or under any of the Debentures, may be enforced by the Trustee without
      the possession of any of the Debentures, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and,
      subject to Section 5.3, any recovery of judgment shall be for the ratable benefit of the holders of the Debentures.

     

    In any proceedings brought by the Trustee (and also any proceedings involving the interpretation of any provision of this Indenture to
      which the Trustee shall be a party), the Trustee shall be held to represent all the holders of the Debentures, and it shall not be necessary to make any holders of the Debentures parties to any such proceedings.

     

    Section 5.3.     Application of Moneys Collected by Trustee. Any moneys collected by the Trustee pursuant to this Article V shall be applied in the following order, at the date or dates fixed by the
      Trustee for the distribution of such moneys, upon presentation of the several Debentures in respect of which moneys have been collected, and stamping thereon the payment, if only partially paid, and upon surrender thereof if fully paid:

     

    First: To the payment of costs and expenses incurred by, and reasonable fees of, the Trustee, its agents, attorneys and counsel, and of
      all other amounts due to the Trustee under Section 6.6;

    
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    Second: To the payment of all Senior Indebtedness of the Company if and to the extent required by Article XV;

     

    Third: To the payment of the amounts then due and unpaid upon the Debentures for principal (and premium, if any), and interest on the
      Debentures, in respect of which or for the benefit of which money has been collected, ratably, without preference or priority of any kind, according to the amounts due on such Debentures for principal (and premium, if any) and interest (including
      Additional Interest), respectively; and

     

    Fourth: The balance, if any, to the Company.

     

    Section 5.4.      Proceedings by Securityholders. No holder of any Debenture shall have any right to institute any suit, action or proceeding for any remedy hereunder, unless such holder previously shall
      have given to the Trustee written notice of an Event of Default with respect to the Debentures and unless the holders of not less than 25% in aggregate principal amount of the Debentures then outstanding shall have given the Trustee a written request
      to institute such action, suit or proceeding and shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred thereby, and the Trustee for 60 days after its receipt of such
      notice, request and offer of indemnity shall have failed to institute any such action, suit or proceeding.

     

    Notwithstanding any other provisions in this Indenture, however, the right of any holder of any Debenture to receive payment of the
      principal of, premium, if any, and interest, on such Debenture when due, or to institute suit for the enforcement of any such payment, shall not be impaired or affected without the consent of such holder and by accepting a Debenture hereunder it is
      expressly understood, intended and covenanted by the taker and holder of every Debenture with every other such taker and holder and the Trustee, that no one or more holders of Debentures shall have any right in any manner whatsoever by virtue or by
      availing itself of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other Debentures, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under
      this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all holders of Debentures. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall
      be entitled to such relief as can be given either at law or in equity.

     

    Section 5.5.     Proceedings by Trustee. In case of an Event of Default hereunder the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such
      appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any
      covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

    
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    Section 5.6.      Remedies Cumulative and Continuing; Delay or Omission Not a Waiver. Except as otherwise provided in Section 2.6 with respect to the replacement of mutilated, destroyed, lost or stolen
      Debentures, all powers and remedies given by this Article V to the Trustee or to the Securityholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the
      holders of the Debentures, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture or otherwise established with respect to the Debentures, and no delay or omission of
      the Trustee or of any holder of any of the Debentures to exercise any right, remedy or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right, remedy or power, or shall be construed to be a waiver
      of any such default or an acquiescence therein; and, subject to the provisions of Section 5.4, every power and remedy given by this Article V or by law to the Trustee or to the Securityholders may be exercised from time to time, and as often as shall
      be deemed expedient, by the Trustee (in accordance with its duties under Section 6.1) or by the Securityholders.

     

    No delay or omission of the Trustee or any Securityholder to exercise any right or remedy accruing upon any Event of Default shall impair
      any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to any Securityholder may be exercised from time to time, and as often
      as may be deemed expedient, by the Trustee (in accordance with its duties under Section 6.1 hereof) or by such holder, as the case may be.

     

    Section 5.7.     Direction of Proceedings and Waiver of Defaults by Majority of Securityholders. The holders of a majority in aggregate principal amount of the Debentures affected (voting as one class)
      at the time outstanding shall have the right to direct the time, method, and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such Debentures; provided, however, that (subject to the provisions of Section 6.1) the
      Trustee shall have the right to decline to follow any such direction if the Trustee shall determine that the action so directed would be unjustly prejudicial to the holders not taking part in such direction or if the Trustee being advised by counsel
      determines that the action or proceeding so directed may not lawfully be taken or if a Responsible Officer of the Trustee shall determine that the action or proceedings so directed would involve the Trustee in personal liability.

     

    The holders of a majority in aggregate principal amount of the Debentures at the time outstanding may on behalf of the holders of all of
      the Debentures waive (or modify any previously granted waiver of) any past default or Event of Default, and its consequences, except an Event of Default (a) specified in Sections 5.1(a) and (b), (b) in respect of covenants or provisions hereof which
      cannot be modified or amended without the consent of the holder of each Debenture affected, or (c) in respect of the covenants contained in Section 3.9; provided,
      however, that if the Debentures are held by the Trust or the Institutional Trustee, such waiver or modification to such waiver shall not be effective until the
      holders of a majority in Liquidation Amount of the Trust Securities shall have consented to such waiver or modification to such waiver, provided, further, that if the consent of the holder of each outstanding Debenture is required, such waiver shall not be effective until each holder of the Trust Securities
      shall have consented to such waiver. Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Debentures shall be restored to their former
      positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. Whenever any default or Event of Default hereunder shall have been waived as
      permitted by this Section, said default or Event of Default shall for all purposes of the Debentures and this Indenture be deemed to have been cured and to be not continuing.

    
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    Section 5.8.     Notice of Defaults. The Trustee shall, within 90 days after the actual knowledge by a Responsible Officer of the Trustee of the occurrence of a default with respect to the Debentures,
      mail to all Securityholders, as the names and addresses of such holders appear upon the Debenture Register, notice of all defaults with respect to the Debentures known to the Trustee, unless such defaults shall have been cured before the giving of
      such notice (the term “defaults” for the purpose of this Section 5.8 being hereby defined to be the events specified in clauses (a), (b), (c), (d), (e) and (f) of Section 5.1, not including periods of grace, if any, provided for therein); provided, however, that, except in the case of default in the payment of
      the principal of, premium, if any, or interest on any of the Debentures, the Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Trustee in good faith determines that the withholding of such notice is
      in the interests of the Securityholders.

     

    Section 5.9.     Undertaking to Pay Costs. All parties to this Indenture agree, and each holder of any Debenture by his acceptance thereof shall be deemed to have agreed, that any court may in its
      discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to
      pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or
      defenses made by such party litigant; provided, however, that the
      provisions of this Section 5.9 shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding in the aggregate more than 10% in principal amount of the Debentures outstanding,
      or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Debenture against the Company on or after the same shall have become due and payable.

     

    ARTICLE VI.

      CONCERNING THE TRUSTEE

     

    Section 6.1.     Duties and Responsibilities of Trustee. With respect to the holders of Debentures issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Debentures
      and after the curing or waiving of all Events of Default which may have occurred, with respect to the Debentures, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants shall
      be read into this Indenture against the Trustee. In case an Event of Default with respect to the Debentures has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture,
      and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.

    
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    No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
      failure to act or its own willful misconduct, except that:

     

    (a)           prior to the occurrence of an Event of Default with respect to Debentures and after the curing or waiving of all Events of Default which may have occurred

     

    (1)          the duties and obligations of the Trustee with respect to Debentures shall be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations with
        respect to the Debentures as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee, and

     

    (2)          in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee
        and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the
        same to determine whether or not they conform to the requirements of this Indenture;

     

    (b)           the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and

     

    (c)           the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith, in accordance with the direction of the Securityholders pursuant to Section 5.7, relating to the time, method and place of
        conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture.

     

    None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal
      financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is ground for believing that the repayment of such funds or liability is not assured to it under the terms of this Indenture or
      indemnity satisfactory to the Trustee against such risk is not reasonably assured to it.

      

    Section 6.2.      Reliance on Documents, Opinions, etc. Except as otherwise provided in Section 6.1:

     

    (a)           the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, note, debenture or other
        paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties;

    
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    (b)           any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may
        be evidenced to the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;

     

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

     

    (d)           the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such
        Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which may be incurred therein or thereby;

     

    (e)           the Trustee shall not be liable for any action taken or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; nothing contained herein shall,
        however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect to the Debentures (that has not been cured or waived) to exercise with respect to Debentures such of the rights and powers vested in it by this
        Indenture, and to use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs;

     

    (f)           the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, coupon or other
        paper or document, unless requested in writing to do so by the holders of not less than a majority in aggregate principal amount of the outstanding Debentures affected thereby; provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be
        incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such
        expense or liability as a condition to so proceeding;

     

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

     

    (h)           with the exceptions of defaults under Sections 5.1(a) or 5.1(b), the Trustee shall not be charged with knowledge of any Default or Event of Default with respect to the Debentures unless a written notice of such Default or Event of Default
        shall have been given to the Trustee by the Company or any other obligor on the Debentures or by any holder of the Debentures.

     

    Section 6.3.     No Responsibility for Recitals, etc. The recitals contained herein and in the Debentures (except in the certificate of authentication of the Trustee or the Authenticating Agent) shall
      be taken as the statements of the Company, and the Trustee and the Authenticating Agent assume no responsibility for the correctness of the same. The Trustee and the Authenticating Agent make no representations as to the validity or sufficiency of
      this Indenture or of the Debentures. The Trustee and the Authenticating Agent shall not be accountable for the use or application by the Company of any Debentures or the proceeds of any Debentures authenticated and delivered by the Trustee or the
      Authenticating Agent in conformity with the provisions of this Indenture.

    
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    Section 6.4.      Trustee, Authenticating Agent, Paying Agents, Transfer Agents or Registrar May Own Debentures. The Trustee or any Authenticating Agent or any paying agent or any transfer agent or any
      Debenture registrar, in its individual or any other capacity, may become the owner or pledgee of Debentures with the same rights it would have if it were not Trustee, Authenticating Agent, paying agent, transfer agent or Debenture registrar.

     

    Section 6.5.      Moneys to be Held in Trust. Subject to the provisions of Section 12.4, all moneys received by the Trustee or any paying agent shall, until used or applied as herein provided, be held in
      trust for the purpose for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee and any paying agent shall be under no liability for interest on any money received by it hereunder
      except as otherwise agreed in writing with the Company. So long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time to the Company upon the written order of the
      Company, signed by the Chief Executive Officer, the President, a Vice President, the Treasurer or an Assistant Treasurer of the Company.

     

    Section 6.6.     Compensation and Expenses of Trustee. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation as shall be
      agreed to in writing between the Company and the Trustee (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), and the Company will pay or reimburse the Trustee upon its request for all
      reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not
      regularly in its employ) except any such expense, disbursement or advance as may arise from its negligence or willful misconduct. The Company also covenants to indemnify the Trustee and any predecessor Trustee (and its officers, agents, directors and
      employees) for, and to hold it harmless against, any and all loss, damage, claim, liability or expense including taxes (other than taxes based on the income of the Trustee) incurred without negligence or willful misconduct on the part of the Trustee
      and arising out of or in connection with the acceptance or administration of this trust, including the reasonable costs and expenses of defending itself against any claim of liability. The obligations of the Company under this Section 6.6 to
      compensate and indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of the
      Debentures upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Debentures.

     

    Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs expenses or renders services
      in connection with an Event of Default specified in Section 5.1(d), Section 5.1(e) or Section 5.1(f), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute
      expenses of administration under any applicable federal or state bankruptcy, insolvency or other similar law.

    
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    The provisions of this Section shall survive the resignation or removal of the Trustee and the defeasance or other termination of this
      Indenture.

     

    Notwithstanding anything in this Indenture or any Debenture to the contrary, the Trustee shall have no obligation whatsoever to advance
      funds to pay any principal of or interest on or other amounts with respect to the Debentures or otherwise advance funds to or on behalf of the Company.

     

    Section 6.7.     Officers’ Certificate as Evidence. Except as otherwise provided in Sections 6.1 and 6.2, whenever in the administration of the provisions of this Indenture the Trustee shall deem it
      necessary or desirable that a matter be proved or established prior to taking or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or willful
      misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee, and such certificate, in the absence of negligence or willful misconduct on the part of the Trustee,
      shall be full warrant to the Trustee for any action taken or omitted by it under the provisions of this Indenture upon the faith thereof.

     

    Section 6.8.      Eligibility of Trustee. The Trustee hereunder shall at all times be a banking corporation or national association organized and doing business under the laws of the United States of
      America or any state or territory thereof or of the District of Columbia authorized under such laws to exercise corporate trust powers, having (or whose obligations under this Indenture are guaranteed by an affiliate having) a combined capital and
      surplus of at least fifty million U.S. dollars ($50,000,000.00) and subject to supervision or examination by federal, state, territorial, or District of Columbia authority. If such corporation or national association publishes reports of condition at
      least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.8 the combined capital and surplus of such corporation or national association shall be deemed to be
      its combined capital and surplus as set forth in its most recent records of condition so published.

     

    The Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Company,
      serve as Trustee.

     

    In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.8, the Trustee shall
      resign immediately in the manner and with the effect specified in Section 6.9.

     

    If the Trustee has or shall acquire any “conflicting interest” within the meaning of §310(b) of the Trust Indenture Act of 1939, the
      Trustee shall either eliminate such interest or resign, to the extent and in the manner described by this Indenture.

    
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    Section 6.9.          Resignation or Removal of Trustee.

     

    (a)           The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof, at the Company’s expense, to the holders of the Debentures at
        their addresses as they shall appear on the Debenture Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of its Board of
        Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such
        notice of resignation to the affected Securityholders, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee, or any Securityholder who has been a bona fide holder of a Debenture or
        Debentures for at least six months may, subject to the provisions of Section 5.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor Trustee. Such court may thereupon, after such
        notice, if any, as it may deem proper and prescribe, appoint a successor Trustee.

     

    (b)           In case at any time any of the following shall occur --

     

    (1)          the Trustee shall fail to comply with the provisions of Section 6.8 after written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Debenture or Debentures for at least 6 months, or

     

    (2)          the Trustee shall cease to be eligible in accordance with the provisions of Section 6.8 and shall fail to resign after written request therefor by the Company or by any such Securityholder, or

     

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

     

    then, in any such case, the Company may remove the Trustee and appoint a successor Trustee by written instrument, in duplicate, executed
      by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor Trustee, or, subject to the provisions of Section 5.9, any Securityholder who has been a bona fide holder of a
      Debenture or Debentures for at least 6 months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Such court may
      thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor Trustee.

     

    (c)           Upon prior written notice to the Company and the Trustee, the holders of a majority in aggregate principal amount of the Debentures at the time outstanding may at any time remove the Trustee and nominate a successor Trustee, which shall be
        deemed appointed as successor Trustee unless within 10 Business Days after such nomination the Company objects thereto, in which case, or in the case of a failure by such holders to nominate a successor Trustee, the Trustee so removed or any
        Securityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 6.9 provided, may petition any court of competent jurisdiction for an appointment of a successor Trustee.

    
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    (d)           Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 6.10.

     

    Section 6.10.   Acceptance by Successor Trustee. Any successor Trustee appointed as provided in Section 6.9 shall execute, acknowledge and deliver to the Company and to its predecessor Trustee an
      instrument accepting such appointment hereunder, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights,
      powers, duties and obligations with respect to the Debentures of its predecessor hereunder, with like effect as if originally named as Trustee herein; but, nevertheless, on the written request of the Company or of the successor Trustee, the Trustee
      ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of Section 6.6, execute and deliver an instrument transferring to such successor Trustee all the rights and powers of the Trustee so ceasing to act and shall
      duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee thereunder. Upon request of any such successor Trustee, the Company shall execute any and all instruments in writing for more fully and
      certainly vesting in and confirming to such successor Trustee all such rights and powers. Any Trustee ceasing to act shall, nevertheless, retain a lien upon all property or funds held or collected by such Trustee to secure any amounts then due it
      pursuant to the provisions of Section 6.6.

     

    If a successor Trustee is appointed, the Company, the retiring Trustee and the successor Trustee shall execute and deliver an indenture
      supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Debentures as to which the predecessor Trustee is
      not retiring shall continue to be vested in the predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the Trust hereunder by more than one
      Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any
      trust or trusts hereunder administered by any other such Trustee.

     

    No successor Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Trustee
      shall be eligible under the provisions of Section 6.8.

     

    In no event shall a retiring Trustee be liable for the acts or omissions of any successor Trustee hereunder.

     

    Upon acceptance of appointment by a successor Trustee as provided in this Section 6.10, the Company shall mail notice of the succession
      of such Trustee hereunder to the holders of Debentures at their addresses as they shall appear on the Debenture Register. If the Company fails to mail such notice within 10 Business Days after the acceptance of appointment by the successor Trustee,
      the successor Trustee shall cause such notice to be mailed at the expense of the Company.

    
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    Section 6.11.  Succession by Merger, etc. Any

      corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all
      or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto; provided that such corporation shall be otherwise eligible and qualified under this Article.

     

    In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture any of the Debentures shall have
      been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver such Debentures so authenticated; and in case at that time any of the Debentures shall not
      have been authenticated, any successor to the Trustee may authenticate such Debentures either in the name of any predecessor hereunder or in the name of the successor Trustee; and in all such cases such certificates shall have the full force which it
      is anywhere in the Debentures or in this Indenture provided that the certificate of the Trustee shall have; provided, however, that the right to adopt the certificate of authentication of any predecessor Trustee or authenticate Debentures in the name of any predecessor Trustee shall apply only to its
      successor or successors by merger, conversion or consolidation.

     

    Section 6.12.   Authenticating Agents. There may be one or more Authenticating Agents appointed by the Trustee upon the request of the Company with power to act on its behalf and subject to its
      direction in the authentication and delivery of the Debentures issued upon exchange or registration of transfer thereof as fully to all intents and purposes as though any such Authenticating Agent had been expressly authorized to authenticate and
      deliver Debentures; provided, however, that the Trustee shall have
      no liability to the Company for any acts or omissions of the Authenticating Agent with respect to the authentication and delivery of any Debentures. Any such Authenticating Agent shall at all times be a corporation organized and doing business under
      the laws of the United States or of any state or territory thereof or of the District of Columbia authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of at least $50,000,000.00 and being subject to
      supervision or examination by federal, state, territorial or District of Columbia authority. If such corporation publishes reports of condition at least annually pursuant to law or the requirements of such authority, then for the purposes of this
      Section 6.12 the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be
      eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect herein specified in this Section.

     

    Any corporation into which any Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation
      resulting from any merger, consolidation or conversion to which any Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of any Authenticating Agent, shall be the successor
      of such Authenticating Agent hereunder, if such successor corporation is otherwise eligible under this Section 6.12 without the execution or filing of any paper or any further act on the part of the parties hereto or such Authenticating Agent.

    
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    Any Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee
      may at any time terminate the agency of any Authenticating Agent with respect to the Debentures by giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a
      termination, or in case at any time any Authenticating Agent shall cease to be eligible under this Section 6.12, the Trustee may, and upon the request of the Company shall, promptly appoint a successor Authenticating Agent eligible under this Section
      6.12, shall give written notice of such appointment to the Company and shall mail notice of such appointment to all holders of Debentures as the names and addresses of such holders appear on the Debenture Register. Any successor Authenticating Agent
      upon acceptance of its appointment hereunder shall become vested with all rights, powers, duties and responsibilities with respect to the Debentures of its predecessor hereunder, with like effect as if originally named as Authenticating Agent herein.

     

    The Company agrees to pay to any Authenticating Agent from time to time reasonable compensation for its services. Any Authenticating
      Agent shall have no responsibility or liability for any action taken by it as such in accordance with the directions of the Trustee.

     

    ARTICLE VII.

      CONCERNING THE SECURITYHOLDERS

     

    Section 7.1.     Action by Securityholders. Whenever in this Indenture it is provided that the holders of a specified percentage in aggregate principal amount of the Debentures may take any action
      (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action) the fact that at the time of taking any such action the holders of such specified percentage have joined therein may be
      evidenced (a) by any instrument or any number of instruments of similar tenor executed by such Securityholders in person or by agent or proxy appointed in writing, or (b) by the record of such holders of Debentures voting in favor thereof at any
      meeting of such Securityholders duly called and held in accordance with the provisions of Article VIII, or (c) by a combination of such instrument or instruments and any such record of such a meeting of such Securityholders or (d) by any other method
      the Trustee deems satisfactory.

     

    If the Company shall solicit from the Securityholders any request, demand, authorization, direction, notice, consent, waiver or other
      action or revocation of the same, the Company may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record date for such Debentures for the determination of Securityholders entitled to give such request, demand,
      authorization, direction, notice, consent, waiver or other action or revocation of the same, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or
      other action or revocation of the same may be given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether
      Securityholders of the requisite proportion of outstanding Debentures have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action or revocation of the same, and for that purpose
      the outstanding Debentures shall be computed as of the record date; provided, however,
      that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than 6 months after the record date.

    
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    Section 7.2.     Proof of Execution by Securityholders. Subject to the provisions of Section 6.1, 6.2 and 8.5, proof of the execution of any instrument by a Securityholder or his agent or proxy shall be
      sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The ownership of Debentures shall be proved by the Debenture Register or by a
      certificate of the Debenture registrar. The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary.

     

    The record of any Securityholders meeting shall be proved in the manner provided in Section 8.6.

     

    Section 7.3.      Who Are Deemed Absolute Owners. Prior to due presentment for registration of transfer of any Debenture, the Company, the Trustee, any Authenticating Agent, any paying agent, any
      transfer agent and any Debenture registrar may deem the Person in whose name such Debenture shall be registered upon the Debenture Register to be, and may treat him as, the absolute owner of such Debenture (whether or not such Debenture shall be
      overdue) for the purpose of receiving payment of or on account of the principal of, premium, if any, and interest on such Debenture and for all other purposes; and neither the Company nor the Trustee nor any Authenticating Agent nor any paying agent
      nor any transfer agent nor any Debenture registrar shall be affected by any notice to the contrary. All such payments so made to any holder for the time being or upon his order shall be valid, and, to the extent of the sum or sums so paid, effectual
      to satisfy and discharge the liability for moneys payable upon any such Debenture.

     

    Section 7.4.      Debentures Owned by Company Deemed Not Outstanding. In determining whether the holders of the requisite aggregate principal amount of Debentures have concurred in any direction, consent
      or waiver under this Indenture, Debentures which are owned by the Company or any other obligor on the Debentures or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any
      other obligor on the Debentures shall be disregarded and deemed not to be outstanding for the purpose of any such determination; provided, however, that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Debentures which a
      Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Debentures so owned which have been pledged in good faith may be regarded as outstanding for the purposes of this Section 7.4 if the pledgee shall establish to
      the satisfaction of the Trustee the pledgee’s right to vote such Debentures and that the pledgee is not the Company or any such other obligor or Person directly or indirectly controlling or controlled by or under direct or indirect common control
      with the Company or any such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.

    
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    Section 7.5.      Revocation of Consents; Future Holders Bound. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 7.1, of the taking of any action by the holders
      of the percentage in aggregate principal amount of the Debentures specified in this Indenture in connection with such action, any holder (in cases where no record date has been set pursuant to Section 7.1) or any holder as of an applicable record
      date (in cases where a record date has been set pursuant to Section 7.1) of a Debenture (or any Debenture issued in whole or in part in exchange or substitution therefor) the serial number of which is shown by the evidence to be included in the
      Debentures the holders of which have consented to such action may, by filing written notice with the Trustee at the Principal Office of the Trustee and upon proof of holding as provided in Section 7.2, revoke such action so far as concerns such
      Debenture (or so far, as concerns the principal amount represented by any exchanged or substituted Debenture). Except as aforesaid any such action taken by the holder of any Debenture shall be conclusive and binding upon such holder and upon all
      future holders and owners of such Debenture, and of any Debenture issued in exchange or substitution therefor or on registration of transfer thereof, irrespective of whether or not any notation in regard thereto is made upon such Debenture or any
      Debenture issued in exchange or substitution therefor.

     

    ARTICLE VIII.

      SECURITYHOLDERS MEETINGS

     

    Section 8.1.      Purposes of Meetings. A meeting of Securityholders may be called at any time and from time to time pursuant to the provisions of this Article VIII for any of the following purposes:

     

    (a)           to give any notice to the Company or to the Trustee, or to give any directions to the Trustee, or to consent to the waiving of any default hereunder and its consequences, or to take any other action authorized to be taken by
        Securityholders pursuant to any of the provisions of Article V;

     

    (b)           to remove the Trustee and nominate a successor trustee pursuant to the provisions of Article VI;

     

    (c)           to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section 9.2; or

     

    (d)           to take any other action authorized to be taken by or on behalf of the holders of any specified aggregate principal amount of such Debentures under any other provision of this Indenture or under applicable law.

     

    Section 8.2.     Call of Meetings by Trustee. The Trustee may at any time call a meeting of Securityholders to take any action specified in Section 8.1, to be held at such time and at such place as the
      Trustee shall determine. Notice of every meeting of the Securityholders, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be mailed to holders of Debentures affected at
      their addresses as they shall appear on the Debentures Register and, if the Company is not a holder of Debentures, to the Company. Such notice shall be mailed not less than 20 nor more than 180 days prior to the date fixed for the meeting.

    
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    Section 8.3.     Call of Meetings by Company or Securityholders. In case at any time the Company pursuant to a Board Resolution, or the holders of at least 10% in aggregate principal amount of the
      Debentures, as the case may be, then outstanding, shall have requested the Trustee to call a meeting of Securityholders, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not
      have mailed the notice of such meeting within 20 days after receipt of such request, then the Company or such Securityholders may determine the time and the place for such meeting and may call such meeting to take any action authorized in Section
      8.1, by mailing notice thereof as provided in Section 8.2.

     

    Section 8.4.     Qualifications for Voting. To be entitled to vote at any meeting of Securityholders a Person shall be (a) a holder of one or more Debentures with respect to which the meeting is being
      held or (b) a Person appointed by an instrument in writing as proxy by a holder of one or more such Debentures. The only Persons who shall be entitled to be present or to speak at any meeting of Securityholders shall be the Persons entitled to vote
      at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.

     

    Section 8.5.     Regulations. Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Securityholders, in
      regard to proof of the holding of Debentures and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and
      such other matters concerning the conduct of the meeting as it shall think fit.

     

    The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by
      the Company or by Securityholders as provided in Section 8.3, in which case the Company or the Securityholders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary
      of the meeting shall be elected by majority vote of the meeting.

     

    Subject to the provisions of Section 7.4, at any meeting each holder of Debentures with respect to which such meeting is being held or
      proxy therefor shall be entitled to one vote for each $1,000.00 principal amount of Debentures held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Debenture challenged as not outstanding and ruled by the chairman of the meeting to be not
      outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Debentures held by him or instruments in writing as aforesaid duly designating him as the Person to vote on behalf of other Securityholders. Any meeting of
      Securityholders duly called pursuant to the provisions of Section 8.2 or 8.3 may be adjourned from time to time by a majority of those present, whether or not constituting a quorum, and the meeting may be held as so adjourned without further notice.

     

    Section 8.6.     Voting. The vote upon any resolution submitted to any meeting of holders of Debentures with respect to which such meeting is being held shall be by written ballots on which shall be
      subscribed the signatures of such holders or of their representatives by proxy and the serial number or numbers of the Debentures held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count
      all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in triplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each
      meeting of Securityholders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having
      knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was mailed as provided in Section 8.2. The record shall show the serial numbers of the Debentures voting in favor of or against any resolution. The
      record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have
      attached thereto the ballots voted at the meeting.

    
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    Any record so signed and verified shall be conclusive evidence of the matters therein stated.

     

    Section 8.7.     Quorum; Actions. The Persons entitled to vote a majority in aggregate principal amount of the Debentures then outstanding shall constitute a quorum for a meeting of Securityholders; provided, however, that if any action is to be taken at such meeting with
      respect to a consent, waiver, request, demand, notice, authorization, direction or other action which may be given by the holders of not less than a specified percentage in aggregate principal amount of the Debentures then outstanding, the Persons
      holding or representing such specified percentage in principal amount of the Debentures then outstanding will constitute a quorum. In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened
      at the request of Securityholders, be dissolved. In any other case the meeting may be adjourned for a period of not less than 10 days as determined by the permanent chairman of the meeting prior to the adjournment of such meeting. In the absence of a
      quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days as determined by the permanent chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the
      reconvening of any adjourned meeting shall be given as provided in Section 8.2, except that such notice need be given only once not less than 5 days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an
      adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Debentures then outstanding which shall constitute a quorum.

     

    Except as limited by the provisos in the first paragraph of Section 9.2, any resolution presented to a meeting or adjourned meeting duly
      reconvened at which a quorum is present as aforesaid may be adopted by the affirmative vote of the holders of a majority in aggregate principal amount of the Debentures then outstanding; provided, however, that, except as limited by the provisos in the first paragraph of Section 9.2, any resolution with respect to
      any consent, waiver, request, demand, notice, authorization, direction or other action which this Indenture expressly provides may be given by the holders of not less than a specified percentage in aggregate principal amount of the Debentures then
      outstanding may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid only by the affirmative vote of the holders of a not less than such specified percentage in principal amount of the
      Debentures then outstanding.

    
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    Any resolution passed or decision taken at any meeting of holders of Debentures duly held in accordance with this Section shall be
      binding on all the Securityholders, whether or not present or represented at the meeting.

     

    ARTICLE IX.

      SUPPLEMENTAL INDENTURES

     

    Section 9.1.     Supplemental Indentures without Consent of Securityholders. The Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an
      indenture or indentures supplemental hereto, without the consent of the Securityholders, for one or more of the following purposes:

     

    (a)           to evidence the succession of another Person to the Company, or successive successions, and the assumption by the successor Person of the covenants, agreements and obligations of the Company, pursuant to Article XI hereof;

     

    (b)           to add to the covenants of the Company such further covenants, restrictions or conditions for the protection of the holders of Debentures as the Board of Directors shall consider to be for the protection of the holders of such Debentures,
        and to make the occurrence, or the occurrence and continuance, of a default in any of such additional covenants, restrictions or conditions a default or an Event of Default permitting the enforcement of all or any of the several remedies provided
        in this Indenture as herein set forth; provided, however, that in
        respect of any such additional covenant, restriction or condition such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may
        provide for an immediate enforcement upon such default or may limit the remedies available to the Trustee upon such default;

     

    (c)           to cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective or inconsistent with any other provision contained herein or in any supplemental indenture, or to make
        such other provisions in regard to matters or questions arising under this Indenture; provided that any such action shall not materially adversely affect the
        interests of the holders of the Debentures;

     

    (d)          to add to, delete from, or revise the terms of Debentures, including, without limitation, any terms relating to the issuance, exchange, registration or transfer of Debentures, including to provide for transfer procedures and restrictions
        substantially similar to those applicable to the Capital Securities as required by Section 2.5 (for purposes of assuring that no registration of Debentures is required under the Securities Act); provided, however, that any such action shall not adversely affect the interests of the holders of the Debentures
        then outstanding (it being understood, for purposes of this proviso, that transfer restrictions on Debentures substantially similar to those that were applicable to Capital Securities shall not be deemed to materially adversely affect the holders
        of the Debentures);

     

    (e)           to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Debentures and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
        the administration of the trusts hereunder by more than one Trustee;

    
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    (f)            to make any change (other than as elsewhere provided in this paragraph) that does not adversely affect the rights of any Securityholder in any material respect; or

     

    (g)           to provide for the issuance of and establish the form and terms and conditions of the Debentures, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or the Debentures, or to add to
        the rights of the holders of Debentures.

     

    The Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, to make any further
      appropriate agreements and stipulations which may be therein contained and to accept the conveyance, transfer and assignment of any property thereunder, but the Trustee shall not be obligated to, but may in its discretion, enter into any such
      supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

     

    Any supplemental indenture authorized by the provisions of this Section 9.1 may be executed by the Company and the Trustee without the
      consent of the holders of any of the Debentures at the time outstanding, notwithstanding any of the provisions of Section 9.2.

     

    Section 9.2.     Supplemental Indentures with Consent of Securityholders. With the consent (evidenced as provided in Section 7.1) of the holders of not less than a majority in aggregate principal amount
      of the Debentures at the time outstanding affected by such supplemental indenture (voting as a class), the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures
      supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of the
      Debentures; provided, however, that no such supplemental indenture
      shall without the consent of the holders of each Debenture then outstanding and affected thereby (i) change the fixed maturity of any Debenture, or reduce the principal amount thereof or any premium thereon, or reduce the rate or extend the time of
      payment of interest thereon, or reduce any amount payable on redemption thereof or make the principal thereof or any interest or premium thereon payable in any coin or currency other than that provided in the Debentures, or impair or affect the right
      of any Securityholder to institute suit for payment thereof or impair the right of repayment, if any, at the option of the holder, or (ii) reduce the aforesaid percentage of Debentures the holders of which are required to consent to any such
      supplemental indenture; provided further, however, that if the Debentures are held by a trust or a trustee of such trust, such supplemental indenture shall not be effective until the holders of a majority in Liquidation
      Amount of Trust Securities shall have consented to such supplemental indenture; provided further, however, that if the consent of the Securityholder of each outstanding Debenture is required, such supplemental indenture shall
      not be effective until each holder of the Trust Securities shall have consented to such supplemental indenture.

     

    Upon the request of the Company accompanied by a Board Resolution authorizing the execution of any such supplemental indenture, and upon
      the filing with the Trustee of evidence of the consent of Securityholders as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights,
      duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture.

    
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    Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the
      Trustee shall transmit by mail, first class postage prepaid, a notice, prepared by the Company, setting forth in general terms the substance of such supplemental indenture, to the Securityholders as their names and addresses appear upon the Debenture
      Register. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.

     

    It shall not be necessary for the consent of the Securityholders under this Section 9.2 to approve the particular form of any proposed
      supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof.

     

    Section 9.3.     Effect of Supplemental Indentures. Upon the execution of any supplemental indenture pursuant to the provisions of this Article IX, this Indenture shall be and be deemed to be modified
      and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the holders of Debentures shall thereafter be determined, exercised and
      enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all
      purposes.

     

    Section 9.4.     Notation on Debentures. Debentures authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article IX may bear a notation as to
      any matter provided for in such supplemental indenture. If the Company or the Trustee shall so determine, new Debentures so modified as to conform, in the opinion of the Board of Directors of the Company, to any modification of this Indenture
      contained in any such supplemental indenture may be prepared and executed by the Company, authenticated by the Trustee or the Authenticating Agent and delivered in exchange for the Debentures then outstanding.

     

    Section 9.5.     Evidence of Compliance of Supplemental Indenture to be Furnished to Trustee. The Trustee, subject to the provisions of Sections 6.1 and 6.2, shall, in addition to the documents required
      by Section 14.6, receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant hereto complies with the requirements of this Article IX. The Trustee shall receive an Opinion of
      Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article IX is authorized or permitted by, and conforms to, the terms of this Article IX and that it is proper for the Trustee under the provisions of this
      Article IX to join in the execution thereof.

     

    ARTICLE X.

      REDEMPTION OF SECURITIES

     

    Section 10.1.   Optional Redemption. The Company shall have the right to redeem the Debentures, in whole or in part, but in all cases in a principal amount with integral multiples of $1,000.00, on any
      Interest Payment Date on or after the Interest Payment Date in June 2009 (an “Optional Redemption Date”), at the Optional Redemption Price.

    
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    Section 10.2.   Special Event Redemption. If a Special Event shall occur and be continuing, the Company shall have the right to redeem the Debentures in whole, but not in part, at any Interest Payment
      Date, within 120 days following the occurrence of such Special Event (the “Special Redemption Date”) at the Special Redemption Price.

     

    Section 10.3.   Notice of Redemption; Selection of Debentures. In case the Company shall desire to exercise the right to redeem all, or, as the case may be, any part of the Debentures, it shall cause
      to be mailed a notice of such redemption at least 30 and not more than 60 days prior to the Optional Redemption Date or the Special Redemption Date to the holders of Debentures so to be redeemed as a whole or in part at their last addresses as the
      same appear on the Debenture Register. Such mailing shall be by first class mail. The notice if mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the holder receives such notice. In any case,
      failure to give such notice by mail or any defect in the notice to the holder of any Debenture designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Debenture.

     

    Each such notice of redemption shall specify the CUSIP number, if any, of the Debentures to be redeemed, the Optional Redemption Date or
      the Special Redemption Date, as applicable, the Optional Redemption Price or the Special Redemption Price, as applicable, at which Debentures are to be redeemed, the place or places of payment, that payment will be made upon presentation and
      surrender of such Debentures, that interest accrued to the date fixed for redemption will be paid as specified in said notice, and that on and after said date interest thereon or on the portions thereof to be redeemed will cease to accrue. If less
      than all the Debentures are to be redeemed the notice of redemption shall specify the numbers of the Debentures to be redeemed. In case the Debentures are to be redeemed in part only, the notice of redemption shall state the portion of the principal
      amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon surrender of such Debenture, a new Debenture or Debentures in principal amount equal to the unredeemed portion thereof will be issued.

     

    Prior to 10:00 a.m. (New York City time) on the Optional Redemption Date or Special Redemption Date, as applicable, the Company will
      deposit with the Trustee or with one or more paying agents an amount of money sufficient to redeem on the Optional Redemption Date or the Special Redemption Date, as applicable, all the Debentures so called for redemption at the appropriate Optional
      Redemption Price or Special Redemption Price, together with accrued interest to the Optional Redemption Date or Special Redemption Date, as applicable.

     

    If all, or less than all, the Debentures are to be redeemed, the Company will give the Trustee notice not less than 45 nor more than 60
      days, respectively, prior to the Optional Redemption Date or Special Redemption Date, as applicable, as to the aggregate principal amount of Debentures to be redeemed and the Trustee shall select, in such manner as in its sole discretion it shall
      deem appropriate and fair, the Debentures or portions thereof (in integral multiples of $1,000.00) to be redeemed.

    
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    Section 10.4.   Payment of Debentures Called for Redemption. If notice of redemption has been given as provided in Section 10.3, the Debentures or portions of Debentures with respect to which such
      notice has been given shall become due and payable on the Optional Redemption Date or Special Redemption Date, as applicable, and at the place or places stated in such notice at the applicable Optional Redemption Price or Special Redemption Price,
      together with interest accrued to the Optional Redemption Date or Special Redemption Date, as applicable, and on and after said date (unless the Company shall default in the payment of such Debentures at the Optional Redemption Price or Special
      Redemption Price, as applicable, together with interest accrued to said date) interest on the Debentures or portions of Debentures so called for redemption shall cease to accrue. On presentation and surrender of such Debentures at a place of payment
      specified in said notice, such Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Optional Redemption Price or Special Redemption Price, together with interest accrued thereon to the Optional
      Redemption Date or Special Redemption Date, as applicable.

     

    Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available
      for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures of authorized denominations, in principal amount equal to the unredeemed portion of the Debenture so presented.

     

    ARTICLE XI.

      CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE

     

    Section 11.1.   Company May Consolidate, etc., on Certain Terms. Nothing contained in this Indenture or in the Debentures shall prevent any consolidation or merger of the Company with or into any other
      Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the
      property or capital stock of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other Person (whether or not affiliated with the Company, or its successor or successors) authorized to acquire and
      operate the same; provided, however, that the Company hereby
      covenants and agrees that, upon any such consolidation, merger (where the Company is not the surviving corporation), sale, conveyance, transfer or other disposition, the due and punctual payment of the principal of (and premium, if any) and interest
      on all of the Debentures in accordance with their terms, according to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture to be kept or performed by the Company, shall be expressly
      assumed by supplemental indenture satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which shall have acquired such
      property or capital stock.

     

    Section 11.2.   Successor Entity to be Substituted. In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor entity, by
      supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of and premium, if any, and interest on all of the Debentures and the due and punctual performance
      and observance of all of the covenants and conditions of this Indenture to be performed or observed by the Company, such successor entity shall succeed to and be substituted for the Company, with the same effect as if it had been named herein as the
      Company, and thereupon the predecessor entity shall be relieved of any further liability or obligation hereunder or upon the Debentures. Such successor entity thereupon may cause to be signed, and may issue in its own name, any or all of the
      Debentures issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee or the Authenticating Agent; and, upon the order of such successor entity instead of the Company and subject to all the terms,
      conditions and limitations in this Indenture prescribed, the Trustee or the Authenticating Agent shall authenticate and deliver any Debentures which previously shall have been signed and delivered by the officers of the Company, to the Trustee or the
      Authenticating Agent for authentication, and any Debentures which such successor entity thereafter shall cause to be signed and delivered to the Trustee or the Authenticating Agent for that purpose. All the Debentures so issued shall in all respects
      have the same legal rank and benefit under this Indenture as the Debentures theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Debentures had been issued at the date of the execution hereof.

    
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    Section 11.3.   Opinion of Counsel to be Given to Trustee. The Trustee, subject to the provisions of Sections 6.1 and 6.2, shall receive, in addition to the Opinion of Counsel required by Section 9.5,
      an Opinion of Counsel as conclusive evidence that any consolidation, merger, sale, conveyance, transfer or other disposition, and any assumption, permitted or required by the terms of this Article XI complies with the provisions of this Article XI.

     

    ARTICLE XII.

      SATISFACTION AND DISCHARGE OF INDENTURE

      

    Section 12.1.   Discharge of Indenture. When

     

    
      		(a)	
              the Company shall deliver to the Trustee for cancellation all Debentures theretofore authenticated (other than any Debentures which shall have been destroyed, lost or
                stolen and which shall have been replaced or paid as provided in Section 2.6) and not theretofore canceled, or

            

    

     

    
      		(b)	
              all the Debentures not theretofore canceled or delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and
                payable within 1 year or are to be called for redemption within 1 year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit with the Trustee, in trust, funds, which shall be
                immediately due and payable, sufficient to pay at maturity or upon redemption all of the Debentures (other than any Debentures which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section
                2.6) not theretofore canceled or delivered to the Trustee for cancellation, including principal and premium, if any, and interest due or to become due to such date of maturity or redemption date, as the case may be, but excluding, however,
                the amount of any moneys for the payment of principal of, and premium, if any, or interest on the Debentures (1) theretofore repaid to the Company in accordance with the provisions of Section 12.4, or (2) paid to any state or to the
                District of Columbia pursuant to its unclaimed property or similar laws,

            

    

    
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    and if in the case of either clause (a) or clause (b) the Company shall also pay or cause to be paid all other sums payable hereunder by the Company, then
      this Indenture shall cease to be of further effect except for the provisions of Sections 2.5, 2.6, 2.8, 3.1, 3.2, 3.4, 6.6, 6.8, 6.9 and 12.4 hereof shall survive until such Debentures shall mature and be paid. Thereafter, Sections 6.6 and 12.4 shall
      survive, and the Trustee, on demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have
      been complied with, and at the cost and expense of the Company, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture. The Company agrees to reimburse the Trustee for any costs or expenses thereafter reasonably
      and properly incurred by the Trustee in connection with this Indenture or the Debentures.

     

    Section 12.2.   Deposited Moneys to be Held in Trust by Trustee. Subject to the provisions of Section 12.4, all moneys deposited with the Trustee pursuant to Section 12.1 shall be held in trust in a
      non-interest bearing account and applied by it to the payment, either directly or through any paying agent (including the Company if acting as its own paying agent), to the holders of the particular Debentures for the payment of which such moneys
      have been deposited with the Trustee, of all sums due and to become due thereon for principal, and premium, if any, and interest.

     

    Section 12.3.   Paying Agent to Repay Moneys Held. Upon the satisfaction and discharge of this Indenture all moneys then held by any paying agent of the Debentures (other than the Trustee) shall, upon
      demand of the Company, be repaid to it or paid to the Trustee, and thereupon such paying agent shall be released from all further liability with respect to such moneys.

     

    Section 12.4.   Return of Unclaimed Moneys. Any moneys deposited with or paid to the Trustee or any paying agent for payment of the principal of, and premium, if any, or interest on Debentures and not
      applied but remaining unclaimed by the holders of Debentures for 2 years after the date upon which the principal of, and premium, if any, or interest on such Debentures, as the case may be, shall have become due and payable, shall, subject to
      applicable escheatment laws, be repaid to the Company by the Trustee or such paying agent on written demand; and the holder of any of the Debentures shall thereafter look only to the Company for any payment which such holder may be entitled to
      collect, and all liability of the Trustee or such paying agent with respect to such moneys shall thereupon cease.

     

    ARTICLE XIII.

      IMMUNITY OF INCORPORATORS, STOCKHOLDERS,

      OFFICERS AND DIRECTORS

     

    Section 13.1.          Indenture and Debentures Solely Corporate Obligations. No recourse for the payment of the principal of or premium, if any, or interest on any Debenture, or for any claim based
      thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture, or in any such Debenture, or because of the creation of any indebtedness
      represented thereby, shall be had against any incorporator, stockholder, employee, officer or director, as such, past, present or future, of the Company or of any successor Person of the Company, either directly or through the Company or any
      successor Person of the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, it being expressly understood that all such liability is hereby expressly waived and
      released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Debentures.

    
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    ARTICLE XIV.

      MISCELLANEOUS PROVISIONS

     

    Section 14.1.   Successors. All the covenants, stipulations, promises and agreements of the Company in this Indenture shall bind its successors and assigns whether so expressed or not.

     

    Section 14.2.   Official Acts by Successor Entity. Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of the
      Company shall and may be done and performed with like force and effect by the like board, committee, officer or other authorized Person of any entity that shall at the time be the lawful successor of the Company.

     

    Section 14.3.   Surrender of Company Powers. The Company by instrument in writing executed by authority of at least 2/3 (two-thirds) of its Board of Directors and delivered to the Trustee may surrender
      any of the powers reserved to the Company and thereupon such power so surrendered shall terminate both as to the Company, and as to any permitted successor.

     

    Section 14.4.   Addresses for Notices, etc. Any notice, consent, direction, request, authorization, waiver or demand which by any provision of this Indenture is required or permitted to be given,
      made, furnished or served by the Trustee or by the Securityholders on or to the Company may be given or served in writing by being deposited postage prepaid by registered or certified mail in a post office letter box addressed (until another address
      is filed by the Company, with the Trustee for the purpose) to the Company, 3883 East Broad Street, Columbus, Ohio 43213, Attention: Greg Sutton. Any notice, consent, direction, request, authorization, waiver or demand by any Securityholder or the
      Company to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the office of the Trustee, addressed to the Trustee, 225 Asylum Street, Goodwin Square, Hartford, Connecticut
      06103 Attention: Vice President, Corporate Trust Services, with a copy to the Trustee, 1 Federal Street, Boston, Massachusetts 02110, Attention: Paul D. Allen, Corporate Trust Services. Any notice, consent, direction, request, authorization, waiver
      or demand on or to any Securityholder shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the address set forth in the Debenture Register.

     

    Section 14.5.   Governing Law. Pursuant to Section 5-1401 of the General Obligations Law of the State of New York, this Indenture and each Debenture shall be deemed to be a contract made under the law
      of the State of New York, and for all purposes shall be governed by and construed in accordance with the law of said State.

     

    Section 14.6.   Evidence of Compliance with Conditions Precedent. Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the
      Company shall furnish to the Trustee an Officers’ Certificate stating that in the opinion of the signers all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of
      Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

    
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    Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or
      covenant provided for in this Indenture shall include (1) a statement that the person making such certificate or opinion has read such covenant or condition; (2) a brief statement as to the nature and scope of the examination or investigation upon
      which the statements or opinions contained in such certificate or opinion are based; (3) a statement that, in the opinion of such person, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to
      whether or not such covenant or condition has been complied with; and (4) a statement as to whether or not in the opinion of such person, such condition or covenant has been complied with.

     

    Section 14.7.   Table of Contents, Headings, etc. The table of contents and the titles and headings of the articles and sections of this Indenture have been inserted for convenience of reference only,
      are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

     

    Section 14.8.   Execution in Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and
      the same instrument.

     

    Section 14.9.   Severability. In case any one or more of the provisions contained in this Indenture or in the Debentures shall for any reason be held to be invalid, illegal or unenforceable in any
      respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Debentures, but this Indenture and such Debentures shall be construed as if such invalid or illegal or unenforceable provision
      had never been contained herein or therein.

     

    Section 14.10. Assignment. The Company will have the right at all times to assign any of its rights or obligations under this Indenture to a direct or indirect wholly owned Subsidiary of the Company,
      provided that, in the event of any such assignment, the Company will remain liable for all such obligations. Subject to the foregoing, this Indenture is binding upon and inures to the benefit of the parties hereto and their respective successors and
      assigns. This Indenture may not otherwise be assigned by the parties hereto.

     

    Section 14.11. Acknowledgment of Rights. The Company agrees that, with respect to any Debentures held by the Trust or the Institutional Trustee of the Trust, if the Institutional Trustee of the Trust
      fails to enforce its rights under this Indenture as the holder of Debentures held as the assets of such Trust after the holders of a majority in Liquidation Amount of the Capital Securities of such Trust have so directed such Institutional Trustee, a
      holder of record of such Capital Securities may, to the fullest extent permitted by law, institute legal proceedings directly against the Company to enforce such Institutional Trustee’s rights under this Indenture without first instituting any legal
      proceedings against such trustee or any other Person. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay interest (or premium, if any) or principal
      on the Debentures on the date such interest (or premium, if any) or principal is otherwise payable (or in the case of redemption, on the redemption date), the Company agrees that a holder of record of Capital Securities of the Trust may directly
      institute a proceeding against the Company for enforcement of payment to such holder directly of the principal of (or premium, if any) or interest on the Debentures having an aggregate principal amount equal to the aggregate Liquidation Amount of the
      Capital Securities of such holder on or after the respective due date specified in the Debentures.

    
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    ARTICLE XV.

      SUBORDINATION OF DEBENTURES

     

    Section 15.1.   Agreement to Subordinate. The Company covenants and agrees, and each holder of Debentures by such Securityholder’s acceptance thereof likewise covenants and agrees, that all Debentures
      shall be issued subject to the provisions of this Article XV; and each holder of a Debenture, whether upon original issue or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions.

     

    The payment by the Company of the principal of, and premium, if any, and interest on all Debentures shall, to the extent and in the
      manner hereinafter set forth, be subordinated and junior in right of payment to the prior payment in full of all Senior Indebtedness of the Company, whether outstanding at the date of this Indenture or thereafter incurred.

     

    No provision of this Article XV shall prevent the occurrence of any default or Event of Default hereunder.

     

    Section 15.2.   Default on Senior Indebtedness. In the event and during the continuation of any default by the Company in the payment of principal, premium, interest or any other payment due on any
      Senior Indebtedness of the Company following any grace period, or in the event that the maturity of any Senior Indebtedness of the Company has been accelerated because of a default and such acceleration has not been rescinded or canceled and such
      Senior Indebtedness has not been paid in full, then, in either case, no payment shall be made by the Company with respect to the principal (including redemption) of, or premium, if any, or interest on the Debentures.

     

    In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee when such payment is prohibited by the
      preceding paragraph of this Section 15.2, such payment shall, subject to Section 15.7, be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness or their respective representatives, or to the
      trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent that the holders of the Senior Indebtedness (or their representative or
      representatives or a trustee) notify the Trustee in writing within 90 days of such payment of the amounts then due and owing on the Senior Indebtedness and only the amounts specified in such notice to the Trustee shall be paid to the holders of
      Senior Indebtedness.

    
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    Section 15.3.   Liquidation, Dissolution, Bankruptcy. Upon any payment by the Company or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to
      creditors upon any dissolution or winding-up or liquidation or reorganization of the Company, whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, all amounts due upon all Senior Indebtedness of the
      Company shall first be paid in full, or payment thereof provided for in money in accordance with its terms, before any payment is made by the Company, on account of the principal (and premium, if any) or interest on the Debentures. Upon any such
      dissolution or winding-up or liquidation or reorganization, any payment by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Securityholders or the Trustee would be
      entitled to receive from the Company, except for the provisions of this Article XV, shall be paid by the Company, or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the
      Securityholders or by the Trustee under this Indenture if received by them or it, directly to the holders of Senior Indebtedness (pro rata to such
      holders on the basis of the respective amounts of Senior Indebtedness held by such holders, as calculated by the Company) or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments
      evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, to the extent necessary to pay such Senior Indebtedness in full, in money or money’s worth, after giving effect to any concurrent payment or
      distribution to or for the holders of such Senior Indebtedness, before any payment or distribution is made to the Securityholders or to the Trustee.

     

    In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character, whether
      in cash, property or securities, prohibited by the foregoing, shall be received by the Trustee before all Senior Indebtedness is paid in full, or provision is made for such payment in money in accordance with its terms, such payment or distribution
      shall be held in trust for the benefit of and shall be paid over or delivered to the holders of such Senior Indebtedness or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments
      evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of all Senior Indebtedness, remaining unpaid to the extent necessary to pay such Senior
      Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the holders of such Senior Indebtedness.

     

    For purposes of this Article XV, the words “cash, property or securities” shall not be deemed to include shares of stock of the Company
      as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the extent provided in this Article XV with respect to the
      Debentures to the payment of all Senior Indebtedness, that may at the time be outstanding, provided that (i) such Senior Indebtedness is assumed by the new corporation, if any, resulting from any such reorganization or readjustment, and (ii) the
      rights of the holders of such Senior Indebtedness are not, without the consent of such holders, altered by such reorganization or readjustment. The consolidation of the Company with, or the merger of the Company into, another corporation or the
      liquidation or dissolution of the Company following the conveyance or transfer of its property as an entirety, or substantially as an entirety, to another corporation upon the terms and conditions provided for in Article XI of this Indenture shall
      not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section if such other corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article XI
      of this Indenture. Nothing in Section 15.2 or in this Section shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.6 of this Indenture.

    
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    Section 15.4.   Subrogation. Subject to the payment in full of all Senior Indebtedness, the Securityholders shall be subrogated to the rights of the holders of such Senior Indebtedness to receive
      payments or distributions of cash, property or securities of the Company, applicable to such Senior Indebtedness until the principal of (and premium, if any) and interest on the Debentures shall be paid in full. For the purposes of such subrogation,
      no payments or distributions to the holders of such Senior Indebtedness of any cash, property or securities to which the Securityholders or the Trustee would be entitled except for the provisions of this Article XV, and no payment over pursuant to
      the provisions of this Article XV to or for the benefit of the holders of such Senior Indebtedness by Securityholders or the Trustee, shall, as between the Company, its creditors other than holders of Senior Indebtedness of the Company, and the
      holders of the Debentures be deemed to be a payment or distribution by the Company to or on account of such Senior Indebtedness. It is understood that the provisions of this Article XV are and are intended solely for the purposes of defining the
      relative rights of the holders of the Securities, on the one hand, and the holders of such Senior Indebtedness, on the other hand.

     

    Nothing contained in this Article XV or elsewhere in this Indenture or in the Debentures is intended to or shall impair, as between the
      Company, its creditors other than the holders of Senior Indebtedness, and the holders of the Debentures, the obligation of the Company, which is absolute and unconditional, to pay to the holders of the Debentures the principal of (and premium, if
      any) and interest on the Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the holders of the Debentures and creditors of the Company, other than the
      holders of Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the holder of any Debenture from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if
      any, under this Article XV of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company, received upon the exercise of any such remedy.

     

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

    
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    Section 15.5.   Trustee to Effectuate Subordination. Each Securityholder by such Securityholder’s acceptance thereof authorizes and directs the Trustee on such Securityholder’s behalf to take such
      action as may be necessary or appropriate to effectuate the subordination provided in this Article XV and appoints the Trustee such Securityholder’s attorney-in-fact for any and all such purposes.

     

    Section 15.6.   Notice by the Company. The Company shall give prompt written notice to a Responsible Officer of the Trustee at the Principal Office of the Trustee of any fact known to the Company that
      would prohibit the making of any payment of monies to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article XV. Notwithstanding the provisions of this Article XV or any other provision of this Indenture, the
      Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment of monies to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article XV, unless and until a
      Responsible Officer of the Trustee at the Principal Office of the Trustee shall have received written notice thereof from the Company or a holder or holders of Senior Indebtedness or from any trustee therefor; and before the receipt of any such
      written notice, the Trustee, subject to the provisions of Article VI of this Indenture, shall be entitled in all respects to assume that no such facts exist; provided,
      however, that if the Trustee shall not have received the notice provided for in this Section at least 2 Business Days prior to the date upon which by the terms
      hereof any money may become payable for any purpose (including, without limitation, the payment of the principal of (or premium, if any) or interest on any Debenture), then, anything herein contained to the contrary notwithstanding, the Trustee shall
      have full power and authority to receive such money and to apply the same to the purposes for which they were received, and shall not be affected by any notice to the contrary that may be received by it within 2 Business Days prior to such date.

     

    The Trustee, subject to the provisions of Article VI of this Indenture, shall be entitled to conclusively rely on the delivery to it of a
      written notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee or representative on behalf of such holder), to establish that such notice has been given by a holder of such Senior Indebtedness or a trustee or
      representative on behalf of any such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of such Senior Indebtedness to participate in any
      payment or distribution pursuant to this Article XV, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the extent to which such
      Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article XV, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending
      judicial determination as to the right of such Person to receive such payment.

     

    Section 15.7.   Rights of the Trustee; Holders of Senior Indebtedness. The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XV in respect of any Senior
      Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder.

    
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    With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and
      obligations as are specifically set forth in this Article XV, and no implied covenants or obligations with respect to the holders of such Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to
      owe any fiduciary duty to the holders of such Senior Indebtedness and, subject to the provisions of Article VI of this Indenture, the Trustee shall not be liable to any holder of such Senior Indebtedness if it shall pay over or deliver to
      Securityholders, the Company or any other Person money or assets to which any holder of such Senior Indebtedness shall be entitled by virtue of this Article XV or otherwise.

     

    Nothing in this Article XV shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.6.

     

    Section 15.8.   Subordination May Not Be Impaired. No right of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be
      prejudiced or impaired by any act or failure to act on the part of the Company, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company, with the terms, provisions and covenants of this Indenture,
      regardless of any knowledge thereof that any such holder may have or otherwise be charged with.

     

    Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time
      to time, without the consent of or notice to the Trustee or the Securityholders, without incurring responsibility to the Securityholders and without impairing or releasing the subordination provided in this Article XV or the obligations hereunder of
      the holders of the Debentures to the holders of such Senior Indebtedness, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, such Senior Indebtedness, or
      otherwise amend or supplement in any manner such Senior Indebtedness or any instrument evidencing the same or any agreement under which such Senior Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged,
      mortgaged or otherwise securing such Senior Indebtedness; (iii) release any Person liable in any manner for the collection of such Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against the Company, and any other Person.

     

    Signatures appear on the following page

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

     

    
      	 	
              SAFE AUTO GROUP INC.

            
	 	 	 
	 	By: 	
              /s/ Ari Deshe

            
	 	 	
              Name: Ari Deshe

            
	 	 	
              Title: Chairman & CEO

            
	 	 	 
	 	
              U.S. BANK NATIONAL ASSOCIATION, as Trustee

            
	 	 	 
	 	By: 	
              /s/ Paul D. Allen

            
	 	 	
              Name: Paul D. Allen

            
	 	 	
              Title: Vice President

            

    

     

    
      Signature page to INDENTURE between U.S. BANK NATIONAL ASSOCIATION, as Trustee, SAFE AUTO GROUP, INC., as Issuer, Dated as of May 12, 2004.

      
        
          
 

        

      

    

  

  
  
    

       

    FORM OF FLOATING RATE JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURE

     

    [FORM OF FACE OF SECURITY]

     

    THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), ANY STATE SECURITIES LAWS OR
      ANY OTHER APPLICABLE SECURITIES LAW. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
      TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ANY APPLICABLE STATE OR OTHER SECURITIES LAWS. THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER
      THIS SECURITY ONLY (A) TO SAFE AUTO GROUP, INC. (THE “COMPANY”), (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL
      BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A IN ACCORDANCE WITH RULE 144A, (D) TO A NON-U.S. PERSON IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE
      904 (AS APPLICABLE) OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (A) OF RULE 501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THIS SECURITY FOR ITS OWN ACCOUNT, OR FOR THE
      ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM
      THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO IT IN ACCORDANCE
      WITH THE INDENTURE, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. HEDGING TRANSACTIONS INVOLVING THIS SECURITY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

    
      A-1-1

      
        
 

    

    THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF ALSO AGREES, REPRESENTS AND WARRANTS THAT IT IS NOT AN EMPLOYEE BENEFIT, INDIVIDUAL
      RETIREMENT ACCOUNT OR OTHER PLAN OR ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) (EACH A “PLAN”), OR AN
      ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY, AND NO PERSON INVESTING “PLAN ASSETS” OF ANY PLAN MAY ACQUIRE OR HOLD THE SECURITIES OR ANY INTEREST THEREIN, UNLESS SUCH PURCHASER OR HOLDER IS
      ELIGIBLE FOR EXEMPTIVE RELIEF AVAILABLE UNDER U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE EXEMPTION OR ITS PURCHASE AND HOLDING OF THIS SECURITY IS NOT PROHIBITED BY SECTION
      406 OF ERISA OR SECTION 4975 OF THE CODE WITH RESPECT TO SUCH PURCHASE OR HOLDING. ANY PURCHASER OR HOLDER OF THE SECURITIES OR ANY INTEREST THEREIN WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING THEREOF THAT EITHER (i) IT IS NOT AN
      EMPLOYEE BENEFIT PLAN WITHIN THE MEANING OF SECTION 3(3) OF ERISA, OR A PLAN TO WHICH SECTION 4975 OF THE CODE IS APPLICABLE, A TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF AN EMPLOYEE BENEFIT PLAN OR PLAN, OR ANY OTHER PERSON OR ENTITY USING THE
      ASSETS OF ANY EMPLOYEE BENEFIT PLAN OR PLAN TO FINANCE SUCH PURCHASE, OR (ii) SUCH PURCHASE WILL NOT RESULT IN A PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE FOR WHICH THERE IS NO APPLICABLE STATUTORY OR
      ADMINISTRATIVE EXEMPTION.

     

    THIS SECURITY WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN BLOCKS HAVING AN AGGREGATE PRINCIPAL AMOUNT OF NOT LESS THAN $100,000.00 AND
      MULTIPLES OF $1,000.00 IN EXCESS THEREOF. ANY ATTEMPTED TRANSFER OF THIS SECURITY IN A BLOCK HAVING AN AGGREGATE PRINCIPAL AMOUNT OF LESS THAN $100,000.00 SHALL BE DEEMED TO BE VOID AND OF NO LEGAL EFFECT WHATSOEVER.

     

    THE HOLDER OF THIS SECURITY AGREES THAT IT WILL COMPLY WITH THE FOREGOING RESTRICTIONS.

     

    THIS SECURITY IS IN REGISTERED FORM WITHIN THE MEANING OF TREASURY REGULATIONS SECTION 1.871-14(c)(1)(i) FOR U.S. FEDERAL INCOME AND
      WITHHOLDING TAX PURPOSES.

     

    IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS MAY BE REQUIRED BY THE INDENTURE TO CONFIRM THAT THE TRANSFER
      COMPLIES WITH THE FOREGOING RESTRICTIONS. 

    

    

    
      A-1-2

      
        
 

    

    
      Floating Rate Junior Subordinated Deferrable Interest Debenture

       

      of

       

      Safe Auto Group, Inc.

       

      May 12, 2004

    

     

    

    Safe Auto Group, Inc., a corporation duly organized and existing under the laws of Ohio (the “Company,” which term includes any successor
      Person under the Indenture hereinafter referred to), for value received promises to pay to U.S. Bank National Association, not in its individual capacity but solely as Institutional Trustee for SAG Statutory Trust I (the “Holder”) or registered
      assigns, the principal sum of thirteen million four hundred three thousand dollars ($13,403,000) on June 17, 2034, and to pay interest on said principal sum from May 12, 2004, or from the most recent Interest Payment Date (defined herein) to which
      interest has been paid or duly provided for, quarterly (subject to deferral as set forth herein) in arrears on March 17, June 17, September 17 and December 17 of each year or if such day is not a Business Day, then the next succeeding Business Day
      (each such date, an “Interest Payment Date”) commencing on the Interest Payment Date in September 2004, at an annual rate equal to 4.880% beginning on (and including) the date of original issuance and ending on (but excluding) the Interest Payment
      Date in September 2004 and at an annual rate for each successive period beginning on (and including) the Interest Payment Date in September 2004, and each succeeding Interest Payment Date, and ending on (but excluding) the next succeeding Interest
      Payment Date (each a “Distribution Period”), equal to 3-Month LIBOR, determined as described below, plus 3.70% (the “Coupon Rate”), applied to the principal amount hereof, until the principal hereof is paid or duly provided for or made available for
      payment, and on any overdue principal and (without duplication and to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest (including Additional Interest) at the Interest Rate in effect
      for each applicable period, compounded quarterly, from the dates such amounts are due until they are paid or made available for payment. The amount of interest payable for any period will be computed on the basis of the actual number of days in the
      Distribution Period concerned divided by 360. The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Debenture (or one
      or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment, which shall be fifteen days prior to the day on which the relevant Interest Payment Date occurs. Any such interest
      installment not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such regular record date and may be paid to the Person in whose name this Debenture (or one or more Predecessor Securities) is registered at
      the close of business on a special record date.

     

    “3-Month LIBOR” as used herein, means the London interbank offered interest rate for three-month U.S. dollar deposits determined by the
      Trustee in the following order of priority: (i) the rate (expressed as a percentage per annum) for U.S. dollar deposits having a three-month maturity that appears on Telerate Page 3750 as of 11:00 a.m. (London time) on the related Determination Date
      (“Telerate Page 3750” means the display designated as “Page 3750” on the Dow Jones Telerate Service or such other page as may replace Page 3750 on that service or such other service or services as may be nominated by the British Bankers’ Association
      as the information vendor for the purpose of displaying London interbank offered rates for U.S. dollar deposits); (ii) if such rate cannot be identified on the related Determination Date, the Trustee will request the principal London offices of four
      leading banks in the London interbank market to provide such banks’ offered quotations (expressed as percentages per annum) to prime banks in the London interbank market for U.S. dollar deposits having a three-month maturity as of 11:00 a.m. (London
      time) on such Determination Date. If at least two quotations are provided, 3-Month LIBOR will be the arithmetic mean of such quotations; (iii) if fewer than two such quotations are provided as requested in clause (ii) above, the Trustee will request
      four major New York City banks to provide such banks’ offered quotations (expressed as percentages per annum) to leading European banks for loans in U.S. dollars as of 11:00 a.m. (London time) on such Determination Date. If at least two such
      quotations are provided, 3-Month LIBOR will be the arithmetic mean of such quotations; and (iv) if fewer than two such quotations are provided as requested in clause (iii) above, 3-Month LIBOR will be a 3-Month LIBOR determined with respect to the
      Distribution Period immediately preceding such current Distribution Period. If the rate for U.S. dollar deposits having a three-month maturity that initially appears on Telerate Page 3750 as of 11:00 a.m. (London time) on the related Determination
      Date is superseded on the Telerate Page 3750 by a corrected rate by 12:00 noon (London time) on such Determination Date, then the corrected rate as so substituted on the applicable page will be the applicable 3-Month LIBOR for such Determination
      Date. As used herein, “Determination Date” means the date that is two London Banking Days (i.e., a business day in which dealings in deposits in U.S. dollars are transacted in the London interbank market) preceding the commencement of the relevant
      Distribution Period.

    
      A-1-3

      
        
 

    

    “Interest Rate” means for the period beginning on (and including) the date of original issuance and ending on (but excluding) the
      Interest Payment Date in September 2004 the rate per annum of 4.880% and for each Distribution Period thereafter, the Coupon Rate.

     

    The Interest Rate for any Distribution Period will at no time be higher than the maximum rate then permitted by New York law as the same
      may be modified by United States law.

     

    All percentages resulting from any calculations on the Debentures will be rounded, if necessary, to the nearest one hundred-thousandth of
      a percentage point, with five one-millionths of a percentage point rounded upward (e.g., 9.876545% (or .09876545) being rounded to 9.87655% (or .0987655), and all dollar amounts used in or resulting from such calculation will be rounded to the
      nearest cent (with one-half cent being rounded upward)).

     

    The principal of and interest on this Debenture shall be payable at the office or agency of the Trustee (or other paying agent appointed
      by the Company) maintained for that purpose in any coin or currency of the United States of America that at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made by check mailed to the registered holder at such address as shall appear
      in the Debenture Register if a request for a wire transfer by such holder has not been received by the Company or by wire transfer to an account appropriately designated by the holder hereof. Notwithstanding the foregoing, so long as the holder of
      this Debenture is the Institutional Trustee, the payment of the principal of and interest on this Debenture will be made in immediately available funds at such place and to such account as may be designated by the Trustee.

    
      A-1-4

      
        
 

    

    So long as no Event of Default has occurred and is continuing, the Company shall have the right, from time to time, and without causing
      an Event of Default, to defer payments of interest on the Debentures by extending the interest payment period on the Debentures at any time and from time to time during the term of the Debentures, for up to 20 consecutive quarterly periods (each such
      extended interest payment period, an “Extension Period”), during which Extension Period no interest (including Additional Interest) shall be due and payable (except any Additional Sums that may be due and payable). No Extension Period may end on a
      date other than an Interest Payment Date. During an Extension Period, interest will continue to accrue on the Debentures, and interest on such accrued interest will accrue at an annual rate equal to the Interest Rate in effect for such Extension
      Period, compounded quarterly from the date such interest would have been payable were it not for the Extension Period, to the extent permitted by law (such interest referred to herein as “Additional Interest”). At the end of any such Extension Period
      the Company shall pay all interest then accrued and unpaid on the Debentures (together with Additional Interest thereon); provided, however, that no Extension Period may extend beyond the Maturity Date; provided further, however, that during any such Extension Period, the Company
      shall not and shall not permit any Affiliate of the Company controlled by the Company to engage in any of the activities or transactions described on the reverse side hereof and in the Indenture. Prior to the termination of any Extension Period, the
      Company may further extend such period, provided that such period together with all such previous and further consecutive extensions thereof shall not exceed 20 consecutive quarterly periods, or extend beyond the Maturity Date. Upon the termination
      of any Extension Period and upon the payment of all accrued and unpaid interest and Additional Interest, the Company may commence a new Extension Period, subject to the foregoing requirements. No interest or Additional Interest shall be due and
      payable during an Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during an Extension Period shall bear Additional Interest. The Company must give the Trustee notice of its
      election to begin or extend an Extension Period at least 5 Business Days prior to the regular record date (as such term is used in Section 2.8 of the Indenture) immediately preceding the Interest Payment Date with respect to which interest on the
      Debentures would have been payable except for the election to begin or extend an Extension Period.

     

    The indebtedness evidenced by this Debenture is, to the extent provided in the Indenture, subordinate and junior in right of payment to
      the prior payment in full of all Senior Indebtedness, and this Debenture is issued subject to the provisions of the Indenture with respect thereto. Each holder of this Debenture, by accepting the same, (a) agrees to and shall be bound by such
      provisions, (b) authorizes and directs the Trustee on his or her behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination so provided and (c) appoints the Trustee his or her attorney-in-fact for any
      and all such purposes. Each holder hereof, by his or her acceptance hereof, hereby waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness, whether now
      outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions.

     

    This Debenture shall not be entitled to any benefit under the Indenture hereinafter referred to, be valid or become obligatory for any
      purpose until the certificate of authentication hereon shall have been signed by or on behalf of the Trustee.

     

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

    

    
      A-1-5

      
        
 

    

     

    IN WITNESS WHEREOF, the Company has duly executed this certificate.

     

    
      	
               

            	
              Safe Auto Group, Inc.

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
              By:

            	
               

            
	
               

            	
               

            	
              Name:

            	
               

            
	
               

            	
               

            	
              Title:

            	
               

            

    

      

    CERTIFICATE OF AUTHENTICATION

      

    This is one of the Debentures referred to in the within-mentioned Indenture.

      

    
      	
               

            	
              U. S. Bank National Association, as Trustee

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
              By:

            	
               

            
	
               

            	
               

            	
              Authorized Officer

            

    

    
      A-1-6

      
        
 

    

    [FORM OF REVERSE OF DEBENTURE]

     

    This Debenture is one of the floating rate junior subordinated deferrable interest debentures of the Company, all issued or to be issued
      under and pursuant to the Indenture dated as of May 12, 2004 (the “Indenture”), duly executed and delivered between the Company and the Trustee, to which Indenture reference is hereby made for a description of the rights, limitations of rights,
      obligations, duties and immunities thereunder of the Trustee, the Company and the holders of the Debentures. The Debentures are limited in aggregate principal amount as specified in the Indenture.

     

    Upon the occurrence and continuation of a Special Event prior to the Interest Payment Date in June 2009, the Company shall have the right
      to redeem the Debentures in whole, but not in part, at any Interest Payment Date, within 120 days following the occurrence of such Special Event, at the Special Redemption Price.

     

    In addition, the Company shall have the right to redeem the Debentures, in whole or in part, but in all cases in a principal amount with
      integral multiples of $1,000.00, on any Interest Payment Date on or after the Interest Payment Date in June 2009, at the Optional Redemption Price.

     

    Prior to 10:00 a.m. New York City time on the Optional Redemption Date or Special Redemption Date, as applicable, the Company will
      deposit with the Trustee or with one or more paying agents an amount of money sufficient to redeem on the Optional Redemption Date or the Special Redemption Date, as applicable, all the Debentures so called for redemption at the appropriate Optional
      Redemption Price or Special Redemption Price.

     

    If all, or less than all, the Debentures are to be redeemed, the Company will give the Trustee notice not less than 45 nor more than 60
      days prior to the Optional Redemption Date or Special Redemption Date, as applicable, as to the aggregate principal amount of Debentures to be redeemed and the Trustee shall select, in such manner as in its sole discretion it shall deem appropriate
      and fair, the Debentures or portions thereof (in integral multiples of $1,000.00) to be redeemed.

     

    Notwithstanding the foregoing, any redemption of Debentures by the Company shall be subject to the receipt of any and all required
      regulatory approvals.

     

    In case an Event of Default shall have occurred and be continuing, upon demand of the Trustee, the principal of all of the Debentures
      shall become due and payable in the manner, with the effect and subject to the conditions provided in the Indenture.

     

    The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a majority in
      aggregate principal amount of the Debentures at the time outstanding, to execute supplemental indentures for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any
      supplemental indenture or of modifying in any manner the rights of the holders of the Debentures; provided, however, that no such supplemental indenture shall without the consent of the holders of each Debenture then outstanding and affected thereby (i) change the fixed maturity of any Debenture, or reduce the
      principal amount thereof or any premium thereon, or reduce the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof or make the principal thereof or any interest or premium thereon payable in any
      coin or currency other than that provided in the Debentures, or impair or affect the right of any Securityholder to institute suit for payment thereof or impair the right of repayment, if any, at the option of the holder, or (ii) reduce the aforesaid
      percentage of Debentures the holders of which are required to consent to any such supplemental indenture.

    
      A-1-7

      
        
 

    

    The Indenture also contains provisions permitting the holders of a majority in aggregate principal amount of the Debentures at the time
      outstanding on behalf of the holders of all of the Debentures to waive (or modify any previously granted waiver of) any past default or Event of Default, and its consequences, except an Event of Default (a) specified in Sections 5.1(a) and (b), (b)
      in respect of covenants or provisions hereof or of the Indenture which cannot be modified or amended without the consent of the holder of each Debenture affected, or (c) in respect of the covenants contained in Section 3.9 of the Indenture; provided, however, that if the Debentures are held by the Trust or a
      trustee of the Trust, such waiver or modification to such waiver shall not be effective until the holders of a majority in Liquidation Amount of the Trust Securities shall have consented to such waiver or modification to such waiver, provided, further, that if the consent of the holder of each outstanding
      Debenture is required, such waiver shall not be effective until each holder of the Trust Securities shall have consented to such waiver. Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of the Indenture
      and the Company, the Trustee and the holders of the Debentures shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right
      consequent thereon. Whenever any default or Event of Default hereunder shall have been waived as permitted by the Indenture, said default or Event of Default shall for all purposes of the Debentures and the Indenture be deemed to have been cured and
      to be not continuing.

     

    No reference herein to the Indenture and no provision of this Debenture or of the Indenture shall alter or impair the obligation of the
      Company, which is absolute and unconditional, to pay the principal of and premium, if any, and interest, including Additional Interest, on this Debenture at the time and place and at the rate and in the money herein prescribed.

    
      A-1-8

      
        
 

    

    The Company has agreed that if Debentures are initially issued to the Trust or a trustee of such Trust in connection with the issuance of
      Trust Securities by the Trust (regardless of whether Debentures continue to be held by such Trust) and (i) there shall have occurred and be continuing an Event of Default, (ii) the Company shall be in default with respect to its payment of any
      obligations under the Capital Securities Guarantee, or (iii) the Company shall have given notice of its election to defer payments of interest on the Debentures by extending the interest payment period as provided herein and such Extension Period, or
      any extension thereof, shall be continuing, then the Company shall not, and shall not permit any Affiliate of the Company controlled by the Company to, (x) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a
      liquidation payment with respect to, any of the Company’s or such Affiliates’ capital stock (other than payments of dividends or distributions to the Company or a Subsidiary of the Company) or make any guarantee payments with respect to the foregoing
      or (y) make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company or any Affiliate of the Company controlled by the Company that rank pari passu in all respects with or junior in interest to the Debentures (other than, with respect to clauses (x) and (y) above, (1) repurchases, redemptions or other
      acquisitions of shares of capital stock of the Company or any Subsidiary of the Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of one or more employees, officers, directors or
      consultants, in connection with a dividend reinvestment or stockholder stock purchase plan or in connection with the issuance of capital stock of the Company or of such Subsidiary (or securities convertible into or exercisable for such capital stock)
      as consideration in an acquisition transaction entered into prior to the applicable Extension Period, (2) as a result of any reclassification, exchange or conversion of any class or series of the Company’s capital stock (or any capital stock of a
      Subsidiary of the Company) for any class or series of the Company’s capital stock (or in the case of a Subsidiary of the Company, any class or series of such Subsidiary’s capital stock) or of any class or series of the Company’s indebtedness for any
      class or series of the Company’s capital stock (or in the case of indebtedness of a Subsidiary of the Company, of any class or series of such Subsidiary’s indebtedness for any class or series of such Subsidiary’s capital stock), (3) the purchase of
      fractional interests in shares of the Company’s capital stock (or the capital stock of a Subsidiary of the Company) pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged or pursuant to a
      merger, consolidation or other business combination, (4) any declaration of a dividend in connection with any stockholders’ rights plan, or the issuance of rights, stock or other property under any stockholders’ rights plan, or the redemption or
      repurchase of rights pursuant thereto, (5) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which
      the dividend is being paid or ranks pari passu with or junior to such stock and any cash payments in lieu of fractional shares issued in
      connection therewith, or (6) payments under the Capital Securities Guarantee).

     

    The Debentures are issuable only in registered, certificated form without coupons and in minimum denominations of $100,000.00 and any
      multiple of $1,000.00 in excess thereof. As provided in the Indenture and subject to the transfer restrictions and limitations as may be contained herein and therein from time to time, this Debenture is transferable by the holder hereof on the
      Debenture Register of the Company. Upon due presentment for registration of transfer of any Debenture at the Principal Office of the Trustee or at any office or agency of the Company maintained for such purpose as provided in Section 3.2 of the
      Indenture, the Company shall execute, the Company or the Trustee shall register and the Trustee or the Authenticating Agent shall authenticate and make available for delivery in the name of the transferee or transferees a new Debenture for a like
      aggregate principal amount. All Debentures presented for registration of transfer or for exchange or payment shall (if so required by the Company or the Trustee or the Authenticating Agent) be duly endorsed by, or be accompanied by a written
      instrument or instruments of transfer in form satisfactory to, the Company and the Trustee or the Authenticating Agent duly executed by the holder or his attorney duly authorized in writing. No service charge shall be made for any exchange or
      registration of transfer of Debentures, but the Company or the Trustee may require payment of a sum sufficient to cover any tax, fee or other governmental charge that may be imposed in connection therewith.

    
      A-1-9

      
        
 

    

    Prior to due presentment for registration of transfer of any Debenture, the Company, the Trustee, any Authenticating Agent, any paying
      agent, any transfer agent and any Debenture registrar may deem the Person in whose name such Debenture shall be registered upon the Debenture Register to be, and may treat him as, the absolute owner of such Debenture (whether or not such Debenture
      shall be overdue) for the purpose of receiving payment of or on account of the principal of, premium, if any, and interest on such Debenture and for all other purposes; and neither the Company nor the Trustee nor any Authenticating Agent nor any
      paying agent nor any transfer agent nor any Debenture registrar shall be affected by any notice to the contrary. All such payments so made to any holder for the time being or upon his order shall be valid, and, to the extent of the sum or sums so
      paid, effectual to satisfy and discharge the liability for moneys payable upon any such Debenture.

     

    The Debentures are in registered form within the meaning of Treasury Regulations Section 1.871-14(c)(1)(i) for U.S. federal income and
      withholding tax purposes.

     

    No recourse for the payment of the principal of or premium, if any, or interest on any Debenture, or for any claim based thereon or
      otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or in any supplemental indenture, or in any such Debenture, or because of the creation of any indebtedness represented
      thereby, shall be had against any incorporator, stockholder, employee, officer or director, as such, past, present or future, of the Company or of any successor Person of the Company, either directly or through the Company or any successor Person of
      the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, it being expressly understood that all such liability is hereby expressly waived and released as a condition
      of, and as a consideration for, the execution of the Indenture and the issue of the Debentures.

     

    Capitalized terms used and not defined in this Debenture shall have the meanings assigned in the Indenture dated as of the date of
      original issuance of this Debenture between the Trustee and the Company.

     

    PURSUANT TO SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, THE INDENTURE AND THIS DEBENTURE SHALL BE GOVERNED BY
      AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

    
      A-1-10Exhibit 10.1

  

  
    

    

  

  
    

   

  

  SAFE AUTO INSURANCE GROUP, INC.

  

  

  REGISTRATION RIGHTS AGREEMENT

  

  

  Dated as of [●], 2019

   

    

  
    
 

  
    
      

  

  
  

  

  

  

  TABLE OF CONTENTS

  

  

  	 	 	
          Page

        
	 	 	 
	
          Section 1

        	
          Certain Definitions

        	
          1

        
	
          Section 2

        	
          Demand Registrations

        	
          3

        
	
          Section 3

        	
          Piggyback Registrations

        	
          6

        
	
          Section 4

        	
          S-3 Registration

        	
          7

        
	
          Section 5

        	
          Lock-Up Agreements

        	
          8

        
	
          Section 6

        	
          Registration Procedures

        	
          8

        
	
          Section 7

        	
          Registration Expenses

        	
          12

        
	
          Section 8

        	
          Indemnification

        	
          13

        
	
          Section 9

        	
          Participation in Underwritten Registrations

        	
          15

        
	
          Section 10

        	
          Expenses

        	
          16

        
	
          Section 11

        	
          Aggregation of Stock

        	
          16

        
	
          Section 12

        	
          Entire Agreement

        	
          16

        
	
          Section 13

        	
          Governing Law; Venue; Service of Process

        	
          16

        
	
          Section 14

        	
          Successors and Assignees; Assignment

        	
          17

        
	
          Section 15

        	
          Notices

        	
          17

        
	
          Section 16

        	
          Modifications; No Implied Waiver

        	
          17

        
	
          Section 17

        	
          Severability

        	
          18

        
	
          Section 18

        	
          Headings

        	
          18

        
	
          Section 19

        	
          Counterparts

        	
          18

        
	
          Section 20

        	
          Construction; Interpretation

        	
          18

        
	
          Section 21

        	
          No Inconsistent Agreement

        	
          19

        
	
          Section 22

        	
          No Joint Venture, Etc.

        	
          19

        
	
          Section 23

        	
          Specific Performance

        	
          19

        
	
          Section 24

        	
          Securities Law Acknowledgment

        	
          19

        
	
          Section 25

        	
          Term

        	
          19

        
	
          Section 26

        	
          Effectiveness

        	
          19

        
	 	 	 
	
          SCHEDULES

        	 	 
	 	 	 
	
          Schedule 1

        	
          Shareholders

        	 

  

  

  
    i

    
      

  

  SAFE AUTO INSURANCE GROUP, INC.

  

  

  REGISTRATION RIGHTS AGREEMENT

  

  

  THIS REGISTRATION RIGHTS AGREEMENT, dated as of [●],

      2019 (this “Agreement”), is by and among Safe Auto Insurance Group, Inc., an Ohio corporation (the “Company”), and each of the Persons listed on Schedule 1 hereto (such persons, in their capacity as holders of Registrable Securities, including any permitted transferees hereunder, the “Shareholders” and each a “Shareholder” and, the Shareholders together with the Company,
      the “Parties”).

  

  

  WHEREAS, the board of directors of the Company (the “Board”) has determined that it is advisable and in the best interests of the Company and its shareholders to take steps to enable the Company to effect an initial public offering of the Company’s common equity (the “IPO”);
      and

  

  

  WHEREAS, upon the effectiveness of the Amended and Restated Articles of Incorporation of the Company to occur substantially
      concurrently with the IPO, all outstanding voting common shares, par value $0.001 per share, of the Company and all outstanding non-voting common shares, par value $0.001 per share, of the Company will be reclassified as and converted into common
      shares, par value $0.01 per share, of the Company (the “Common Shares”); and

  

  

  WHEREAS, in connection with the IPO, the Company and the Shareholders desire to enter into this Agreement in order to provide
      the Shareholders the registration rights described herein.

  

  

  NOW, THEREFORE, in consideration of the foregoing and the mutual promises herein contained and for other good and valuable
      consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, covenant and agree as follows:

  

  

      Section 1    Certain Definitions

   

        

  In addition to the terms defined elsewhere in this Agreement, the following terms shall have the following meanings:

  

  

  “Affiliate” means, with reference to
      any Person, any other Person of which such Person is a member, director, officer, general partner or employee, or any other Person directly or indirectly controlling or controlled by, or under direct or indirect common control with, such Person.

  

  

  “Board” shall have the meaning set forth in the Preamble.

  

  

  “Business Day” means any day other
      than a Saturday or Sunday that is not a legal holiday or a day on which banks are generally authorized or obligated by law or regulation to close in the City of New York.

      

  

  
    
      

  

  
  

  

  “Deshe Family Shareholders” means
      those persons or trusts listed as Deshe Family Shareholders on Schedule 1.

  

  

  “Diamond Family Shareholders” means
      those persons or trusts listed as Diamond Family Shareholders on Schedule 1.

  

  

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

  

  

  “Initiating Shareholder” shall have
      the meaning set forth in Section 2(a).

  

  

  “Indemnified Persons” means the
      Shareholder Indemnified Persons (as defined below) or the Company Indemnified Persons (as defined below), as the case may be.

  

  

  “Person” means any individual,
      corporation, association, partnership, limited liability company, joint venture, joint stock or other company, business trust, trust, organization, governmental authority or other entity of any kind.

  

  

  “Preliminary Prospectus” means any
      preliminary Prospectus (as defined below) or preliminary Prospectus supplement that may be included in any Registration Statement (as defined below).

  

  

  “Prospectus” means the prospectus or
      prospectuses included in any Registration Statement (including a prospectus that includes information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance on Rule 430A under the Securities Act), as
      amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement, and all supplements to the prospectus, including all material
      incorporated by reference in such prospectus.

  

  

  “Public Offering” means the offer of
      Common Shares (or securities exercisable or convertible into or redeemable for Common Shares) on a broadly-distributed basis to the public pursuant to an effective Registration Statement under the Securities Act (other than a Registration Statement
      on Form S-4, Form S-8 or any similar or successor form) pursuant to a firm-commitment or best-efforts underwriting or purchase commitment.

  

  

  “Registrable Securities” means (a) any Common Shares (including any Common Shares
      issuable or issued upon exercise, exchange, redemption or conversion of any securities) owned by any Shareholder and (b) the securities issued or issuable with respect to such Common Shares by way of stock dividend or stock split or in connection
      with a combination of shares, merger, consolidation, business combination, scheme of arrangement, amalgamation, recapitalization or similar transaction; provided,
      however, that Registrable Securities shall not include (i) any securities sold or disposed of either pursuant to an effective Registration Statement or
      pursuant to Rule 144 under the Securities Act, (ii) any securities that have ceased to be outstanding or (iii) as to any Shareholder, the securities owned by such Shareholder to the extent that all such securities may be sold in a single transaction
      without volume limitations or other restrictions on transfer pursuant to Rule 144 under the Securities Act.

  
    2

    
      

  

  

  

  “Registration Statement” means any
      registration statement of the Company filed with the SEC (as defined below) that covers any of the Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration
      statement, including post-effective amendments, all exhibits and all materials incorporated by reference in such registration statement.

  

  

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

  

  

  “Securities Act” means the United
      States Securities Act of 1933, as amended.

  

  

  “Shareholder” shall have the meaning
      set forth in the Preamble.

  

  

  “Underwritten registration or underwritten
          offering” means a transaction registered with the SEC in which securities of the Company are sold to underwriters for reoffering to the public.

  

  

  “WKSI” means a well-known seasoned
      issuer, as defined in Rule 405 under the Securities Act.

  

  

  Section 2     Demand
          Registrations.

  

  

  (a)          Right to Request Registration.  Subject to Section 2(c), at any time or
        from time to time following 180 days after the consummation by the Company of the IPO, each of (y) the Deshe Family Shareholders and (z) the Diamond Family Shareholders may request at any time (at which time, such requesting Shareholders shall be
        referred to as the “Initiating Shareholders”) in writing and require that
        the Company register under the Securities Act all or part of their Registrable Securities (a “Demand Registration”). Promptly after its receipt of any such request for Demand Registration, the Company shall give written notice of such request to all other Shareholders holding Registrable Securities and shall,
        subject to the provisions of Section 2(c) hereof, include in such registration all such Registrable Securities with respect to which the Company has received written requests for inclusion therein within fifteen (15) days after the receipt of the
        Company’s written notice, except in the case of a “takedown” off of a shelf Registration Statement, in which case such time period shall be three (3) days after the receipt of the Company’s written notice. Notwithstanding the foregoing, the Company
        shall have no obligation to register Registrable Securities pursuant to this Section 2(a) if, based on then current market prices, the number of Registrable Securities requested to be included in such registration by the Shareholders would not
        yield gross proceeds to the selling Shareholders of at least $30 million.

  

  

   (b)          Priority on Demand Registrations.  Subject to the provisions of this Section 2, the Company shall not include in any Demand Registration any
      securities other than Registrable Securities without: (i) the written consent of the Shareholders representing at least a majority of the Registrable Securities to be included in such registration and (ii) if such Demand Registration is an
      underwritten offering, the consent of the managing underwriter(s). If the managing underwriter(s) in any requested Demand Registration advise(s) the Company and the Initiating Shareholders of the Registrable Securities proposed to be registered in
      writing that in its or their opinion the number of Registrable Securities proposed to be included in any such registration exceeds the largest number of securities that can be expected to be sold in such offering and/or that the number of Registrable
      Securities proposed to be included in any such registration would have an adverse effect on the offering, including the price per share at which the Company’s equity securities can be sold in such offering, the Company shall include in such
      registration only the number of Registrable Securities that in the opinion of such managing underwriter(s) can be sold without adversely affecting the offering; provided,
      however, that the number of Registrable Securities to be sold in such underwriting shall not be reduced unless all other securities are first entirely

  
    3

    
      

  

   excluded from the underwriting. If the number of Registrable
        Securities that can be sold is less than the number of Registrable Securities proposed to be registered, the number of Registrable Securities to be so sold shall be allocated pro rata among the Shareholders of Registrable Securities that desire to
        participate in such registration on the basis of the amount of Registrable Securities beneficially owned by such Shareholders. If the number of shares that the Initiating Shareholders are allowed to include in a Demand Registration is less than 75%
        of the number of Registrable Securities that such Initiating Shareholders requested to be included in such Demand Registration due to a reduction by the Company pursuant to the provisions of this Section 2(b), such Demand Registration shall not be
        counted for purposes of the limitations to two registrations set forth in the second and fourth sentences of Section 2(c) of this Agreement for the Initiating Shareholders.

   

      

  (c)          Restrictions on Demand Registrations.  The Company shall not be obligated to effect more than one (1) Demand Registration within any (i) twelve
      (12)-month period unless the Company is eligible for S-3 Registration (as defined below) and (ii) six (6)-month period if the Company is eligible for S-3 Registration. The Company shall not be obligated to effect any Demand Registration within three
      (3) months after the effective date of a previous S-3 Registration or a previous registration under which the Shareholders had piggyback registration rights pursuant to Section 3 hereof wherein the Shareholders were permitted to register, and
      actually sold, at least 50% of the Registrable Securities requested to be included therein by such Shareholders. The Company shall not be obligated to take action to effect any Demand Registration after the Company has effected two (2) such
      registrations for each of (y) the Deshe Family Shareholders and (z) the Diamond Family Shareholders, pursuant to this Section 2(c) and such registrations have been declared effective. The Company may postpone or withdraw for up to one hundred twenty
      (120) days the confidential submission, filing or the effectiveness of (or suspend the use of) a Registration Statement for a Demand Registration if (A) based on the reasonable judgment of the disinterested members of the Board, such postponement or
      withdrawal is necessary in order to avoid premature disclosure of a matter the Board has determined would not be in the best interest of the Company to be disclosed at such time or (B) the Company is pursuing a material financing, material
      acquisition or other material corporate transaction; provided that if the Company exercises its right to withdraw the filing or the effectiveness of a
      Registration Statement for a Demand Registration then the Initiating Shareholders may withdraw its or their request for such Demand (and such Demand shall not count against such Initiating Shareholders). The Company shall provide written notices to
      the relevant Initiating Shareholders requesting such Demand Registration of (x) any postponement or withdrawal of the filing or effectiveness of (or suspension of the use of) a Registration Statement pursuant to this Section 2(c), (y) the Company’s
      decision to refile or seek effectiveness of such Registration Statement following such withdrawal or postponement (or suspension) and (z) the effectiveness of such Registration Statement. The Company may defer the filing of a particular Registration
      Statement pursuant to this Section 2(c) only once during any twelve-month period. The restrictions set forth in this Section 2(c) shall apply regardless of the form of the Registration Statement containing Registrable Securities and for the avoidance
      of doubt shall apply to S-3 Registrations. Notwithstanding anything to the contrary herein, the Company shall have no obligation to register, file any Registration Statement or take any other action during any underwriter lock-up period applicable to
      the Company’s Public Offering to the extent any such action would result in a violation of such lock-up agreement of the Company.

  
    4

    
      

  

  

  

  (d)          Selection of Underwriters.  If any Registrable Securities covered by a Demand Registration are to be sold in an underwritten offering, the managing
      underwriter(s) to administer the offering shall be selected by the Initiating Shareholders representing a majority of the Registrable Securities participating in such offering, subject to the approval of the Company, which approval shall not be
      unreasonably withheld or delayed.

   

    

  (e)          Effective Period of Demand Registrations.  If any Initiating Shareholders
        request(s) a Demand Registration pursuant to Section 2(a) above, such Demand Registration shall not be deemed to have been effected unless the Registration Statement filed pursuant to such Demand Registration has been effective for a period equal
        to ninety (90) days (or three hundred (300) days in the case of a shelf S-3 Registration Statement) from the date on which such Registration Statement became effective (or if such Demand Registration is not effective during any period within such
        ninety (90) days (or three hundred (300) days in the case of a shelf S-3 Registration Statement), such ninety (90)-day (or three hundred (300)-day in the case of a shelf S-3 Registration Statement) period shall be extended by the number of days
        during such period when such Registration Statement is not effective), or such shorter period which shall terminate when all of the Registrable Securities covered by such Demand Registration have been sold pursuant to such Demand Registration or
        otherwise disposed of by such Initiating Shareholders. If the Company shall withdraw any Demand Registration pursuant to Section 2(c) (a “Withdrawn Demand
          Registration”), the Initiating Shareholders of the Registrable Securities remaining unsold and originally covered by such Withdrawn Demand Registration shall
        be entitled to a replacement Demand Registration which (subject to the provisions of this Section 2) the Company shall use its reasonable best efforts to keep effective for a period commencing on the effective date of such Demand Registration and
        ending on the earlier to occur of the date (i) which is ninety (90) days (or three hundred (300) days in the case of a shelf S-3 Registration Statement) from the effective date of such Demand Registration and (ii) on which all of the Registrable
        Securities covered by such Demand Registration have been sold or otherwise disposed of such Initiating Shareholders. Each such additional Demand Registration otherwise shall be subject to all of the provisions of this Agreement.

  
    5

    
      

  

  

  

  

  

  Section 3    Piggyback
          Registrations.

   

        

  (a)          Right to Piggyback.  At any time or from time to time following the date
        of this Agreement, whenever the Company proposes to register any equity securities under the Securities Act (other than a Registration Statement (i) relating to shares issuable upon exercise of employee share options or in connection with any
        employee benefit, equity incentive or similar plan of the Company or (ii) in connection with any merger, consolidation, business combination, scheme of arrangement or amalgamation by the Company or any Affiliate of the Company or the acquisition by
        the Company or any such Affiliate of the shares or the assets of any other Person or other registration statement on Form S-4 (clauses (i) and (ii) are referred to as “Permitted Offerings”)) for purposes of a Public Offering of such shares for its own account, and the registration form to be used may be used for any
        registration of Registrable Securities (a “Piggyback Registration”), the
        Company shall give prompt written notice to all Shareholders of its intention to effect such a registration and, subject to Section 3(b) and Section 3(c) hereof, shall include in such registration all Registrable Securities with respect to which
        the Company has received written requests for inclusion therein within fifteen (15) days after the receipt of the Company’s written notice; provided that any participation in such Public Offering shall be on terms not less favorable, taken as a whole, than the Company’s participation therein. The Company may postpone or
        withdraw the filing or the effectiveness of a Piggyback Registration at any time in its discretion.

   

      

  

  (b)          Priority on Primary Registrations.  If a Piggyback Registration is an underwritten primary registration on behalf of the Company, and the managing
      underwriter(s) advise(s) the Company in writing that in its or their opinion the number of securities requested to be included in such registration exceeds the largest number that can be sold in such offering and/or that the number of Registrable
      Securities proposed to be included in any such registration would have an adverse effect on the offering, including the price per share at which the Company’s equity securities can be sold in such offering, the Company shall include in such
      registration (i) first, the securities the Company proposes to sell, (ii) second, the Registrable Securities requested to be included therein by the Shareholders, pro rata among the Shareholders of such Registrable Securities on the basis of the
      number of Registrable Securities requested to be registered by such Shareholders and (iii) third, other securities requested to be included in such registration pro rata among the holders of such securities on the basis of the number of shares
      requested to be registered by such holders or as such holders may otherwise agree in writing.

  

   

    

  (c)          Priority on Secondary Registrations.  If a Piggyback Registration is an underwritten secondary registration on behalf of a holder of the Company’s
      securities other than Registrable Securities, and the managing underwriter(s) advise(s) the Company in writing that in its or their opinion the number of securities requested to be included in such registration exceeds the largest number that can be
      sold in such offering and/or that the number of Registrable Securities proposed to be included in any such registration would have an adverse effect on the offering, including the price per share at which the Company’s equity securities can be sold
      in such offering, the Company shall include in such registration (i) first, the securities requested to be included therein by the holders requesting such registration, together with the Registrable Securities requested to be included therein by the
      Shareholders, pro rata among (A) the holders of securities requesting such registration and (B) the Shareholders of such Registrable Securities, in each case, on the basis of the number of Registrable Securities requested to be registered by such
      Shareholders or holders of securities, as applicable, (ii) second, securities the Company proposes to sell and (iii) third, other securities requested to be included in such registration pro rata among the holders of such securities on the basis of
      the number of shares requested to be registered by such holders or as such holders may otherwise agree in writing.

  
    6

    
      

  

   (d)          Selection of Underwriters.  If any Piggyback Registration is a primary underwritten offering, the Company shall have the right to select the managing
      underwriter(s) to administer any such offering.

  

  
    

    

    

  (e)          Other Jurisdictions.  If the Company at any time proposes to effect a Public Offering in a jurisdiction other than the United States of any of its
      shares or any options, warrants or other rights to acquire, or securities convertible into or exchangeable for, its shares (other than a Public Offering relating to a Permitted Offering), the Company and the Shareholders will have the rights and be
      subject to the obligations agreed in this Section 3 to the extent and where applicable.

   

    

  

      Section 4    S-3 Registration.  At any time that the Company is eligible to use Form S-3, each of (y)
      the Deshe Family Shareholders and (z) the Diamond Family Shareholders may request (by written notice to the Company stating the number of Registrable Securities proposed to be sold and the intended method of disposition) that the Company file a
      registration statement on Form S-3 (an “S-3 Registration”) for a Public Offering of all or any portion of such Shareholder’s Registrable Securities, or
      that the Company take all steps necessary to include such Registrable Securities in a Form S-3 that the Company has previously filed under Rule 415 under the Securities Act; provided that the Company shall not be obligated to effect more than two Public Offerings on an underwritten basis that are
      initiated by the Shareholders within any twelve (12)-month period. Whenever the Company is required pursuant to this Section 4 to effect the registration of Registrable Securities, each of the procedures and requirements of Section 2 (including but
      not limited to the requirement that the Company notify all Shareholders from whom notice has not been received and provide them with the opportunity to participate in the offering and the postponement, withdrawal and suspension provisions) shall
      apply to such registration. If at the time of such request the Company is a WKSI, such S-3 Registration shall, upon the approval of the board of directors of the Company, cover an unspecified number of Common Shares to be sold by the Company and the
      Shareholders. The Company will use its reasonable best efforts to qualify for Form S-3 registration or a similar short-form registration. Notwithstanding the foregoing, the Company shall have no obligation to effect any underwritten offering pursuant
      to this Section 4 if, based on the current market prices, the number of Registrable Securities requested to be included in such offering by the Shareholders would not yield gross proceeds to the selling Shareholders of at least $30 million.

  

  
    7

    
      

  

  

  

  

  

      Section 5    Lock-Up Agreements.  In connection with each underwritten offering, the Company and each Shareholder, if requested, agree to be bound by the underwriting agreement’s lock-up restrictions (which
      must apply in like manner to all Shareholders); provided that in no event shall any lock-up restriction exceed a period of 180 days from the date of the final
      prospectus for any such Public Offering. The Company shall cause its executive officers and directors (and managers, if applicable) and shall use commercially reasonable efforts to cause other holders of Common Shares who beneficially own (within the
      meaning of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the date of this Agreement) any of the Common Shares participating in such offering, to enter into lock-up agreements that contain restrictions that are no less restrictive than
      the restrictions contained in the lock-up agreements executed by the Shareholders.

  

  

  Section 6   
        Registration Procedures

   

        

   (a)          Whenever
      Shareholders request that any Registrable Securities be registered with the SEC pursuant to this Agreement, the Company shall use its reasonable best efforts to effect the registration and the sale of such Registrable Securities in accordance with
      the intended methods of disposition thereof, and pursuant thereto the Company shall:

  

   

    

  (i)          prepare and
      file with or submit to the SEC a Registration Statement with respect to such Registrable Securities as soon as practicable, but in any event within sixty (60) days of written request from a Shareholder or Shareholders, and use its reasonable best
      efforts to cause such Registration Statement to become effective as soon as practicable thereafter; and before filing a Registration Statement or Prospectus or any amendments or supplements thereto, furnish to the Shareholders of Registrable
      Securities covered by such Registration Statement and the underwriter or underwriters, if any, copies of all such documents proposed to be filed, including documents incorporated by reference in the Prospectus and, if reasonably requested by such
      Shareholders, the exhibits incorporated by reference, and such Shareholders shall have the reasonable opportunity to object to any information pertaining to such Shareholders that is contained therein and the Company will make the corrections
      reasonably requested by such Shareholders with respect to such information prior to filing any Registration Statement or Prospectus;

  

   

    

  (ii)          prepare
      and file with or submit to the SEC such amendments and supplements to such Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective for a period of not less than ninety
      (90) days (or three hundred (300) days in the case of a shelf S-3 Registration Statement), in the case of a Demand Registration, or such shorter period as is necessary to complete the distribution of the securities covered by such Registration
      Statement and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration Statement during such period in accordance with the intended methods of disposition by the sellers thereof
      set forth in such Registration Statement;

  
    8

    
      

  

  

  

  

  (iii)          furnish
      the number of copies of such Registration Statement and the Prospectus included in such Registration Statement (including each preliminary Prospectus and each amendment and supplement thereto) as reasonably required by each seller of Registrable
      Securities under such Registration Statement, and such other documents as each seller may reasonably request in writing in order to facilitate the disposition of Registrable Securities owned by each seller; provided, however, that the Company shall have no obligation to furnish copies of a final prospectus if the
      conditions of Rule 172(c) under the Securities Act are satisfied by the Company;

  

   

    

  (iv)          use its
      reasonable best efforts to register or qualify such Registrable Securities under such other securities or “blue sky” laws of such jurisdictions as any seller reasonably requests in writing and do any and all other acts and things that may be
      reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller; provided
      that the Company will not be required to (A) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this clause (iv), (B) subject itself to taxation in any such jurisdiction or (C) consent to
      general service of process in any such jurisdiction;

  

   

    

  (v)          promptly
      notify each seller of Registrable Securities, at any time when a Prospectus relating thereto is required to be delivered under the Securities Act, of the occurrence of any event as a result of which the Prospectus included in such Registration
      Statement contains an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, and, at
      the request of any such seller, to prepare a supplement to such Prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such Prospectus shall not contain an untrue statement of a material fact or omit to state a
      material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;

  

   

    

  (vi)          in the
      case of an underwritten offering, enter into such customary agreements (including underwriting agreements in customary form and containing customary indemnification provisions in favor of the underwriters) and take all such other actions as the
      Shareholders of the Registrable Securities being sold or the underwriters reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (including making members of senior management of the Company reasonably
      available to participate in, and cause them to reasonably cooperate with the underwriters in connection with, “roadshow” and other customary marketing activities) and cause to be delivered to the underwriters and the sellers, if any, opinions of
      counsel to the Company in customary form, covering such matters as are customarily covered by opinions for an underwritten offering as the underwriters may reasonably request and addressed to the underwriters and the sellers;

  
    9

    
      

  

  

  

  

  

  (vii)          make
      available for inspection by a seller of Registrable Securities pursuant to a Registration Statement hereunder, any underwriter participating in any disposition pursuant to such Registration Statement, and any attorney, accountant or other agent
      retained on behalf of such seller or underwriter, all material financial and other records, material corporate documents and material properties of the Company, and cause the Company’s officers, directors, employees and independent accountants to
      supply all information reasonably requested by any such seller representative, underwriter, attorney, accountant or agent in connection with such Registration Statement;

  

   

    

  (viii)          use its
      reasonable best efforts to cause all such Registrable Securities to be listed or quoted on each securities exchange or automated interdealer quotation system on which securities of the same class issued by the Company are then listed or quoted;

  

   

    

  (ix)          provide a
      transfer agent and registrar for all such Registrable Securities not later than the effective date of such Registration Statement;

  

   

    

  (x)          if
      requested, cause to be delivered, immediately prior to the effectiveness of the Registration Statement (and, in the case of an underwritten offering, at the time of delivery of any Registrable Securities sold pursuant thereto), letters from the
      Company’s independent certified public accountants (and the independent certified public accountants for any other acquired company or business whose financial statements are required to be included in such Registration Statement in accordance with
      the applicable requirements of Regulation S-X) addressed to the underwriters stating that such accountants are independent public accountants or an independent registered public accounting firm within the meaning of the Securities Act and the
      applicable rules and regulations adopted by the SEC thereunder and, to the extent applicable, the PCAOB, and otherwise in customary form and covering such financial and accounting matters as are customarily covered by letters of the independent
      certified public accountants delivered in connection with primary or secondary underwritten offerings, as the case may be;

  

   

    

  (xi)          make
      generally available to Shareholders a consolidated earnings statement (which need not be audited) for the twelve (12) months beginning after the effective date of a Registration Statement as soon as reasonably practicable after the end of such
      period, which earnings statement shall satisfy the requirements of an earnings statement under Section 11(a) of the Securities Act;

   

    

  

  (xii)          promptly
      notify each seller of Registrable Securities and the underwriter or underwriters, if any:

  

   

    

  (1)          when the
      Registration Statement, any pre-effective amendment, the Prospectus or any Prospectus supplement or post-effective amendment to the Registration Statement has been filed and, with respect to the Registration Statement or any post-effective amendment,
      when the same has become effective;

  
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  (2)          of any
      written request by the SEC for amendments or supplements to the Registration Statement or Prospectus;

  

   

    

  (3)          of the
      notification to the Company by the SEC of its initiation of any proceeding with respect to the issuance by the SEC of any stop order suspending the effectiveness of the Registration Statement; and

  

   

    

  (4)          of the
      receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or “blue sky” laws of any jurisdiction; and

  

   

    

  (xiii)          use its
      reasonable best efforts to obtain as soon as practicable the lifting of any stop order that might be issued suspending the effectiveness of such Registration Statement.

  

   

    

  (b)          The Company
      shall make available to each Shareholder whose Registrable Securities are included in a Registration Statement (i) promptly after the same is prepared and publicly distributed, filed with the SEC, or received by the Company, one (1) copy of each
      Registration Statement and any amendment thereto and each Preliminary Prospectus and Prospectus and each supplement thereto. The Company will promptly notify each such Shareholder by facsimile of the effectiveness of each Registration Statement or
      any post-effective amendment. The Company will promptly respond to any and all comments received from the SEC, with a view towards causing each Registration Statement or any amendment thereto to be declared effective by the SEC as soon as practicable
      and shall file an acceleration request as soon as practicable following the resolution or clearance of all SEC comments or, if applicable, following notification by the SEC that any such Registration Statement or any amendment thereto will not be
      subject to review.

  

   

    

  (c)          At all
      times after the Company has filed a Registration Statement with the SEC pursuant to the requirements of either the Securities Act or the Exchange Act, the Company shall file all reports required to be filed by it under the Securities Act and the
      Exchange Act and the rules and regulations adopted by the SEC thereunder, all to the extent required to enable such Shareholders to be eligible to sell Registrable Securities pursuant to Rule 144 under the Securities Act.

  

   

    

  (d)          The Company
      may require each seller of Registrable Securities as to which any registration is being effected to furnish to the Company any information regarding such seller and the distribution of such securities as the Company may from time to time reasonably
      request in writing in connection with such registration. The Company’s obligations to a Shareholder under this Agreement shall be subject to the compliance by such Shareholder with the terms and conditions applicable to such Shareholder under this
      Agreement.

  
    11

    
      

  

  

  

  

  (e)          Each seller
      of Registrable Securities agrees that, upon written notice by the Company of the happening of any event as a result of which the Prospectus included in such Registration Statement contains an untrue statement of a material fact or omits to state a
      material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, such seller will forthwith discontinue disposition of Registrable Securities for a
      reasonable length of time not to exceed sixty (60) days until such seller is advised in writing by the Company that the use of the Prospectus may be resumed and is furnished with a supplemented Prospectus as contemplated by Section 6(b) hereof, and,
      if so directed by the Company, such seller will promptly deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such seller’s possession which shall not be disseminated or made available to any Person,
      of the Prospectus covering such Registrable Securities current at the time of receipt of such notice; provided, however, that such postponement of sales of Registrable Securities by the Shareholders shall not exceed ninety (90) days in the aggregate in any twelve (12)-month period. If the Company shall give any
      written notice to suspend the disposition of Registrable Securities pursuant to a Prospectus, the Company shall extend the period of time during which the Company is required to maintain the Registration Statement effective pursuant to this Agreement
      by the number of days during the period from and including the date of the giving of such notice to and including the date such seller either is advised by the Company in writing that the use of the Prospectus may be resumed or receives the copies of
      the supplemented Prospectus contemplated by Section 6(a)(iii) and Section 6(b) hereof.

   

      

  Section 7    Registration
          Expenses.

  

  

  (a)          All expenses incident to the Company’s performance of or compliance with this Agreement, including all registration and filing fees, fees and expenses of compliance with
        securities or “blue sky” laws, listing application fees, printing expenses, transfer agent’s and registrar’s fees, costs of distributing Prospectuses in preliminary and final form as well as any supplements thereto, and fees and disbursements of
        counsel for the Company and all independent certified public accountants and other Persons retained by the Company (all such expenses being herein called “Registration

          Expenses”) (but not including any underwriting discounts or commissions or transfer taxes attributable to the sale or disposition of Registrable Securities),
        shall be borne by the Company. In addition, the Company shall pay its internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit or quarterly review,
        the expense of any liability insurance and the expenses and fees for listing or quoting the securities to be registered on each securities exchange or automated interdealer quotation system on which they are to be listed or quoted.

  

   

    

  (b)          In
      connection with each Demand Registration, S-3 Registration or Piggyback Registration initiated hereunder, the Company shall reimburse the Shareholders covered by such registration or sale for the reasonable fees and disbursements of one (1) law firm
      to represent all Shareholders participating in such registration or sale chosen by the Shareholders holding a majority of the Registrable Securities included in such registration or sale.

  
    12

    
      

  

  (c)          The
      obligation of the Company to bear the Registration Expenses and to reimburse the Shareholders for the expenses described in Section 7(b) hereof shall apply irrespective of whether a registration, once properly demanded, if applicable, becomes
      effective, is withdrawn or suspended, is converted to another form of registration and irrespective of when any of the foregoing shall occur; provided, however, that Registration Expenses and the fees and disbursements reimbursed by the Company under Section 7(b) hereof for any Registration Statement withdrawn
      solely at the request of a Shareholder(s) (unless withdrawn following postponement of filing by the Company in accordance with Section 2(c)(A) or Section 2(c)(B) hereof or due to adverse market conditions) or any supplements or amendments to a
      Registration Statement or Prospectus resulting from a misstatement furnished to or on behalf of the Company by or on behalf of a Shareholder shall be borne by such Shareholder; provided that, for the avoidance of doubt, if a Registration Statement is withdrawn solely at the request of a Shareholder due to adverse market conditions, such Registration Statement shall count as a Demand Registration for
      purposes of Section 2(c) hereof.

  

   

        

  Section 8    Indemnification.

  

  

  (a)          In
      connection with any Registration Statement in which a Shareholder of Registrable Securities is participating, the Company shall agree that in the event of any registration under the Securities Act pursuant to this Agreement, the Company shall
      indemnify and hold harmless, to the fullest extent permitted by applicable law, each Shareholder, and the respective directors, officers, members, general partners, limited partners, employees, agents and representatives of each Shareholder, each
      Person who controls each such Shareholder (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) and the directors, officers, members, general partners, limited partners, employees, agents and representatives of
      each such controlling Person (collectively, the “Shareholder Indemnified Persons”) from and against any and all losses, claims, damages, liabilities (joint or
      several), costs (including attorney’s fees and disbursements), and expenses, including amounts paid in settlement (collectively, “Losses”), without
      duplication, (i) in connection with, arising out of or based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus or Preliminary Prospectus or any amendment thereof or supplement thereto
      or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in light of the circumstances under which they were made) not misleading, except (A) to the
      extent that such untrue statement or alleged untrue statement or omission or alleged omission has been made in reliance upon and in conformity with information furnished in writing to or on behalf of the Company by or on behalf of such Shareholder
      expressly for use therein, (B) if it was caused by the Shareholder’s failure to deliver to the Shareholder’s immediate purchaser a copy of the Registration Statement, Preliminary Prospectus or Prospectus (if the same was required by applicable law to
      be so delivered) after the Company has furnished the Shareholder with a sufficient number of copies of the same or (C) if it arises out of or is based upon offers or sales by the Shareholder “by means of” (as defined in Rule 159A under the Securities
      Act) a “free writing prospectus” (as defined in Rule 405 under the Securities Act) that was not authorized in writing by the Company, or (ii) for any violation or alleged violation by the Company of any United States federal, state or common law rule
      or regulation applicable to the Company. The Company shall reimburse each such Shareholder Indemnified Person for any out-of-pocket legal or any other expenses actually and reasonably incurred by it in connection with investigating or defending such
      Losses.

  
    13

    
      

  

  

  

  

  (b)          In
      connection with any Registration Statement in which a Shareholder is participating, each such Shareholder shall indemnify and hold harmless, to the fullest extent permitted by applicable law, the Company, and the respective directors, officers,
      members, general partners, limited partners, employees, agents and representatives of the Company, each Person who controls the Company and (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) and the directors,
      officers, members, general partners, limited partners, employees, agents and representatives of each such controlling Person (collectively, the “Company Indemnified
          Persons”) from and against any and all Losses, without duplication, in connection with, arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in the Registration Statement, Preliminary
      Prospectus or Prospectus or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in light of the circumstances under which they were made) not
      misleading, but only to the extent that such untrue statement or alleged untrue statement or omission or alleged omission has been made in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of such
      Shareholder expressly for use therein, (ii) such Shareholder’s failure to deliver to its immediate purchaser a copy of the Registration Statement, Preliminary Prospectus or Prospectus (if the same was required by applicable law to be so delivered by
      such Shareholder) after the Company has furnished the Shareholder with a sufficient number of copies of the same or (iii) offers or sales by the Shareholder “by means of” (as defined in Rule 159A under the Securities Act) a “free writing prospectus”
      (as defined in Rule 405 under the Securities Act) that was not authorized in writing by the Company; provided, however, that the obligation to indemnify and hold harmless shall be several, not joint and several, among such Shareholders and the liability of each such Shareholder shall be in proportion to and
      limited to the gross proceeds received by such Shareholder from the sale of Registrable Securities pursuant to such Registration Statement. Such Shareholder shall reimburse each such Company Indemnified Person for any out-of-pocket legal or any other
      expenses actually and reasonably incurred by it in connection with investigating or defending such Losses.

  

   

    

  (c)          Each
      Indemnified Person shall give prompt written notice to the party or parties from which indemnity is sought (the “Indemnifying Party”) of the commencement of
      any action or proceeding (including any governmental investigation) (collectively, a “Proceeding”) with respect to which such Indemnified Person seeks
      indemnification or contribution pursuant hereto; provided, however,
      that the failure so to notify the Indemnifying Party shall not relieve the Indemnifying Party from any obligation or liability hereunder, except to the extent the Indemnifying Party was prejudiced by such failure. The Indemnifying Party shall have
      the right, exercisable by giving written notice to an Indemnified Person within twenty (20) days after receipt of written notice from such Indemnified Person of such Proceeding, to assume, at the Indemnifying Party’s expense, the defense of such
      Proceeding, with counsel reasonably satisfactory to such Indemnified Person and shall pay as incurred the fees and disbursements of such counsel related to such Proceeding; provided,
      however, that an Indemnified Person or Indemnified Persons (if more than one Indemnified Person is named in any Proceeding) shall have the right to employ
      separate counsel in any such Proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of the Indemnified Person or Indemnified Persons. Whether or not such defense is assumed by the
      Indemnifying Party, such Indemnifying Party or Indemnified Person or Indemnified Persons will not be subject to any obligation or liability for any settlement made without its or their written consent, which settlement shall include as an
      unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Person an irrevocable release from all liability in respect of such claim or litigation.

  
    14

    
      

  

  

  

  

  (d)          The
      indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of Registrable Securities.

  

   

    

  (e)          If the
      indemnification provided for in this Section 8 is unavailable to an Indemnified Person or is insufficient to hold such Indemnified Person harmless for any Losses in respect to which this Section 8 would otherwise apply by its terms, then, in lieu of
      the amount paid or payable under Section 8(a) or Section 8(b) hereof, as applicable, the Indemnifying Party and the Indemnified Person, shall contribute to the aggregate Losses (i) in such proportion as is appropriate to reflect the relative fault of
      the Indemnifying Party on the one hand, and the Indemnified Person on the other hand, with respect to the statements or omissions which resulted in such Losses, as well as any other relevant equitable considerations. The relative fault of the
      Indemnifying Party on the one hand, and the Indemnified Person on the other hand, shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or the omission or alleged omission
      to state a material fact relates to information supplied by or on behalf of the Indemnifying Party or by or on behalf of the Indemnified Person, and by the parties’ relative intent, knowledge, access to information and opportunity to correct or
      prevent such statement or omission. The parties hereto agree that it would not be just or equitable if the contribution pursuant to this Section 8(e) were to be determined solely by pro rata allocation or by any other method of allocation that does
      not take into account such equitable considerations. In no event shall the liability of an Indemnifying Party under this Section 8(e) be greater in amount than such Person would have been obligated to pay by way of indemnification if the
      indemnification provided for under Section 8(a) or Section 8(b) hereof, as applicable, had been available under the circumstances. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
      entitled to contribution from any Person who was not guilty of fraudulent misrepresentation. A Shareholder’s obligation to contribute pursuant to this Section 8(e) shall be in proportion to and limited to the gross proceeds received by such
      Shareholder from the sale of Registrable Securities pursuant to such Registration Statement.

  

   

        

      Section 9    Participation in Underwritten Registrations.  Notwithstanding anything in this Agreement to the contrary, no Person may
      participate in any registration hereunder that is underwritten unless such Person (a) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements not inconsistent with the terms of this Agreement approved by the
      Person or Persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting
      arrangements; provided that a Shareholder shall only be required to make customary representations or warranties to the Company or the underwriters (including
      representations and warranties regarding such Shareholder and such Shareholder’s intended method of distribution) and to undertake only customary indemnification obligations to the underwriters with respect thereto.

  
    15

    
      

  

  

  

  

  

      Section 10    Expenses.  Except as otherwise expressly provided for herein, all costs, fees and expenses incurred in connection with this
      Agreement and the transactions contemplated hereby shall be borne by the party incurring such costs and expenses.

  

  

      Section 11    Aggregation of Stock.  All Registrable Securities held by or acquired by any Affiliate(s) of a Shareholder will be aggregated together for the purpose of determining the availability of any
      rights under this Agreement.

  

  

      Section 12    Entire Agreement.  This Agreement and the schedules, exhibits and annexes attached thereto set forth all of the promises, agreements, conditions, understandings and covenants
      between and among the parties hereto with respect to the subject matter referred to herein. Any and all prior agreements with respect to such subject matter are hereby revoked. This Agreement and the schedules, exhibits and annexes attached thereto
      are, and are intended to be, an integration of any and all prior agreements or understandings, oral or written, with respect to such subject matter.

  

  

      Section 13    Governing Law; Venue; Service of Process.  This Agreement shall be governed, construed and enforced in accordance with the laws of the State of Ohio, without reference to any
      principles of conflicts of law thereof. Each party to this Agreement, by its execution hereof, hereby (a) irrevocably submits to the exclusive jurisdiction of the state courts of the State of Ohio or the United States District Court located in the
      Southern District of the State of Ohio for the purpose of any litigation or proceeding between and among the parties hereto arising in whole or in part under or in connection with this Agreement, (b) waives to the extent not prohibited by applicable
      law, and agrees not to assert, by way of motion, as a defense or otherwise, in any such litigation or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from
      attachment or execution, that any such litigation or proceeding brought in one of the above-named courts should be dismissed on grounds of forum non conveniens, should be transferred or removed to any court other than one of the above-named courts,
      or should be stayed by reason of the pendency of some other proceeding in any other court other than one of the above-named courts, or that this Agreement or the subject matter hereof may not be enforced in or by such court and (c) agrees not to
      commence any such litigation or any other type of proceeding or action other than before one of the above-named courts. Notwithstanding the previous sentence, a party may commence any litigation or proceeding in a court other than the above-named
      courts solely for the purpose of enforcing an order, judgment or writ issued by one of the above-named courts. Each party hereto further waives any claim and will not assert that venue should properly lie in any other location within the selected
      jurisdiction. Each party hereto hereby (i) agrees that service of process made by registered or certified mail, return receipt requested, at its address specified pursuant to Section 15 hereof, will constitute good and valid service of process in any
      such litigation or proceeding and (ii) waives and agrees not to assert (by way of motion, as a defense, or otherwise) in any such litigation or proceeding any claim that service of process made in accordance with clause (i) above does not constitute
      good and valid service of process.

  
    16

    
      

  

  

  

  

  

      Section 14    Successors and Assignees; Assignment.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal representatives,
      successors, permitted transferees and permitted assignees and this Agreement shall not inure to the benefit of or be enforceable by any other Person. Such successor or assign shall not be entitled to such rights unless the successor or assign, unless
      already a Shareholder hereunder, shall have executed and delivered to the Company a joinder providing that such Person shall be bound by and shall fully comply with the terms of this Agreement (which shall also be executed by the Company) promptly
      following the acquisition of such Registrable Securities, in which event such successor or assign shall be deemed a Shareholder for purposes of this Agreement. Neither this Agreement nor any obligation hereunder may be assigned without the prior
      written consent of the Company and the party proposing such assignment, including by operation of law. Notwithstanding the foregoing, nothing contained in this Section 14 shall have any effect on (a) any other provision of this Agreement that
      contemplates or requires that any transferee or assignee of the parties hereto be required to be bound by any obligation hereunder and (b) any of the rights of a Shareholder of any of the Registrable Securities as such.

  

  

      Section 15    Notices.  All notices, requests, demands and other communications made under or by reason of the provisions of this Agreement shall be in writing and shall be given by hand
      delivery, certified or registered mail, return receipt requested, facsimile, e-mail or internationally recognized courier to the recipient party at such address, facsimile number or e-mail address as shall be submitted to the Company in writing. Any
      such notice, request, demand or other communication shall be deemed given: (a) at the time personally delivered to the recipient with receipt acknowledged in writing, if delivered by hand; (b) at the time received by the recipient, if sent by
      certified or registered mail, return receipt requested; (c) upon issuance by the transmitting machine of a confirmation slip that the number of pages constituting the notice has been transmitted by facsimile without error and confirmed
      telephonically, if sent by facsimile; (d) upon confirmation by return e-mail from the recipient of its receipt of the e-mail, if sent by email; and (e) at 5:00 p.m., local time, on the third Business Day after timely delivery to the courier, if sent
      by courier specifying delivery on or before the third-Business Day after delivery to the courier and signature of recipient required. Notwithstanding the foregoing, if any such notice, request, demand or other communication shall be given under both
      clause (c) and clause (d), such delivery shall be valid for all purposes of this Agreement notwithstanding that such receipt has not been confirmed telephonically in the case of clause (c) or has not been confirmed by return e-mail in the case of
      clause (d).

  

  

      Section 16    Modifications; No Implied Waiver.  The provisions of this Agreement, including the provisions of this sentence, may not be terminated, amended, modified or supplemented, and
      waivers or consents to departures from the provisions hereof may not be given, without the prior written consent of Shareholders representing at least a majority of then outstanding Registrable Securities; provided, however, that without a Shareholder’s written consent no such termination, amendment,
      modification, supplement, waiver or consent shall (a) adversely affect such Shareholder’s rights and protections hereunder in a discriminatory manner or (b) result in such Shareholder incurring a material financial obligation (or materially
      increasing an existing material financial obligation) hereunder that it was not responsible for immediately prior to the effectiveness of such termination, amendment, modification, supplement, waiver or consent; provided, further, that in order to adversely amend the foregoing proviso or Section 2(a)
      hereof, all Shareholders of the outstanding Registrable Securities at the time and the Board must consent in writing; provided that the Company shall be
      permitted to grant immaterial waivers hereunder without the consent of any of the Shareholders. The failure of any party at any time to insist upon, or any delay by any party at any time to insist upon, strict performance of any condition, promise,
      agreement or understanding set forth herein shall not be construed as a waiver or relinquishment of the right to insist upon strict performance of the same condition, promise, agreement or understanding at a future time.

  
    17

    
      

  

  

  

  

  

      Section 17    Severability.  The holding of any provision of this Agreement to be invalid or unenforceable by a court of competent jurisdiction shall not affect any other provision of this
      Agreement, which shall remain in full force and effect.

  

  

      Section 18    Headings.  The headings and other captions in this Agreement are for convenience and reference only and shall not be used in interpreting, construing or enforcing any provision
      of this Agreement.

  

  

      Section 19    Counterparts.  This Agreement may be executed in one or more counterparts, which may be by facsimile, each of which shall be deemed an original, but all of which shall together
      constitute one and the same instrument.

  

  

      Section 20    Construction; Interpretation.  The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation
      arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. The
      parties intend that each representation, warranty, covenant, obligation, agreement and condition contained herein will have independent significance. The phrases “the date of this Agreement,” “the date hereof” and terms of similar import, shall be
      deemed to refer to the date set forth in the first paragraph of this Agreement. The words “hereof,” “herein,” “hereby” and other words of similar import refer to this Agreement as a whole unless otherwise indicated. Whenever the words “include,”
      “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” All references in this Agreement to “$” are to United States currency. All references in this Agreement to “Form S-3” shall include any successor form thereto. Whenever the singular is used herein, the same shall include the plural, and whenever the plural is used herein, the
      same shall include the singular, where appropriate. A reference to the male gender shall be deemed to be a reference to the female gender and vice versa. Whenever the last day for the exercise of any right or the discharge of any duty under this
      Agreement falls on other than a Business Day, the party having such right or duty shall have until the next Business Day to exercise such right or discharge such duty. Unless otherwise indicated, the word “day” shall be interpreted as a calendar day.
      For purposes of this Agreement, the Company may deem and treat the registered holder of Registrable Securities as the Shareholder and absolute owner thereof, and the Company shall not be affected by any notice to the contrary.

  
    18

    
      

  

  

  

      Section 21    No Inconsistent Agreement.  No Shareholder shall enter into, or remain a party to, any agreement with respect to, or that is implicated by, the Registrable Securities
      beneficially owned or held of record by such Shareholder that is inconsistent with the rights granted to, or agreements between or among, the Shareholders and the Company in this Agreement or otherwise conflicts with the provisions hereof. The
      Company has not entered into nor will it enter into, or remain a party to, any agreement with respect to, or that is implicated by, the Registrable Securities beneficially owned or held of record by the Shareholders that is inconsistent with the
      rights granted to, or agreements between and among, the Company and the Shareholders in this Agreement or otherwise conflicts with the provisions hereof, except with the prior written consent of Shareholders representing at least a majority of then
      outstanding Registrable Securities.

  

  

      Section 22    No Joint Venture, Etc.  The entering into of this Agreement and the performance by any party hereto of the matters contemplated hereby shall not be deemed to create a
      partnership, limited liability company, joint venture, or principal/agency relationship between or among the parties hereto.

  

  

      Section 23    Specific Performance.  The parties hereto agree that legal remedies may be inadequate to enforce the provisions of this Agreement and that equitable relief, including specific
      performance and injunctive relief, may be used to enforce the provisions of this Agreement.

  

  

      Section 24    Securities Law Acknowledgment.  Each Shareholder acknowledges and agrees that such Shareholder may receive material non-public information in connection with the matters
      contemplated by this Agreement, and further that such Shareholder is aware that the United States securities laws impose restrictions on purchasing or selling debt or equity securities of the Company or any of its subsidiaries when in possession of
      such information.

  

  

      Section 25    Term.  This Agreement shall terminate with respect to each Shareholder on the date on which, and at the time at which, such Shareholder ceases to own Registrable Securities; provided, that, such Shareholder’s rights and obligations pursuant to Section 8, as well as the Company’s obligations to pay expenses pursuant to Section 7, shall
      survive with respect to any Registration Statement in which any Registrable Securities of the Shareholder were included.

  

  

      Section 26    Effectiveness.  This Agreement shall become effective upon completion of the IPO.

  

  

  [Signature Pages Follow]

  
    19

    
      

  

  

  

  

  

  Accepted and agreed as of the date first written above:

  

  

  

  

  

  	SAFE AUTO INSURANCE GROUP, INC.
	 	 
	
          By:

        	 
	 	
          Name: Ronald H. Davies

        
	 	
          Title:  Chief Executive Officer,

        
	 	
          President and Director

        

  

  

  Contact information for Person authorized to receive notices on behalf of the Company pursuant to Section 15 of the Agreement
      (which shall not constitute notice):

  

  

  

  Safe Auto Insurance Group, Inc.

  4 Easton Oval

  Columbus, Ohio 43219

  Attention: General Counsel

  

   
  
    
      
        [Signature Page to Registration Rights Agreement]

      

      

    

    
      

  

  IN WITNESS WHEREOF, a duly authorized signatory of each of the Shareholders has executed this Agreement as of the date first
      written above.

   

    

  

    	 	
            Shareholders:

          
	 	 	 
	 	
            ARI DESHE

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name: Ari Deshe

          
	 	 	 
	 	
            ANN S. DESHE

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name: Ann S. Deshe

          
	 	 	 
	 	
            ANN S. DESHE, TRUSTEE OF THE ELIE

            MICHAEL DESHE IRREVOCABLE

            TRUST DATED DECEMBER 24, 2012

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name: Ann S. Deshe

          
	 	 	 
	 	
            ANN S. DESHE, TRUSTEE OF THE

            DAVID SCOTT DESHE IRREVOCABLE

            TRUST DATED DECEMBER 24, 2012

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name: Ann S. Deshe

          
	 	 	 
	 	
            ANN S. DESHE, TRUSTEE OF THE

            DARA LAUREN DESHE IRREVOCABLE

            TRUST DATED DECEMBER 24, 2012

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name: Ann S. Deshe

          

  

  

  

  
    
      
        [Signature Page to Registration Rights Agreement]

      

      

    

    
      

  

  

  

  

  

  	 	
          ANN S. DESHE, TRUSTEE OF THE

          DANIEL MATTHEW DESHE

          IRREVOCABLE TRUST DATED

          DECEMBER 24, 2012

        
	 	 	 	
	 	
          By:

        	 	
	 	 	
          Name: Ann S. Deshe

        
	 	 	 	 
	 	
          ANN S. DESHE, TRUSTEE OF THE

          DANIEL MATTHEW DESHE 1987

          SUBCHAPTER S TRUST

        
	 	 	 	 
	 	
          By:

        	 	 
	 	 	
          Name: Ann S. Deshe

        
	 	 	 	 

  	 	
          JON P. DIAMOND

        
	 	 	 	 
	 	
          By:

        	 	 
	 	 	
          Name: Jon P. Diamond

        

  
    
      
        [Signature Page to Registration Rights Agreement]

      

      

    

    
      

  

  

  

  

  

  	 	
          JON P. DIAMOND, TRUSTEE OF THE

          JACOB DIAMOND 1998 IRREVOCABLE

          TRUST

        	 
	 	 	 	 
	 	
          By:

        	 	 
	 	 	
          Name: Jon P. Diamond

        	 
	 	 	 
	 	
          SUSAN S. DIAMOND, TRUSTEE OF

          THE JILLIAN L. DIAMOND TRUST

          AGREEMENT DATED JANUARY 5, 2009

        
	 	 	 
	 	
          By:

        	 
	 	 	
          Name: Susan S. Diamond

        
	 	 	 
	 	
          SUSAN S. DIAMOND, TRUSTEE OF

          THE JOSHUA L. DIAMOND TRUST

          AGREEMENT DATED JANUARY 6, 2009

        
	 	 	 
	 	
          By:

        	 
	 	 	
          Name: Susan S. Diamond

        
	 	 	 
	 	
          SUSAN S. DIAMOND, TRUSTEE OF

          THE JON P. DIAMOND 2011

          IRREVOCABLE TRUST NO. 1

        
	 	 	 
	 	
          By:

        	 
	 	 	
          Name: Susan S. Diamond

        

  
    
      
        [Signature Page to Registration Rights Agreement]

      

      

    

    
      

  

  

  

  Schedule 1

  

  

  With respect to the rights granted pursuant to this Agreement, those rights shall only extend to the following persons and trusts:

  

  

  “Deshe Family Shareholders” shall refer to:

  

  

  
    
      	

            	1.	
              Ari Deshe

            

    

  

  

  
    
      	

            	2.	
              Ann S. Deshe

            

    

  

  

  
    
      	

            	3.	
              Ann S. Deshe, trustee of the Elie Michael Deshe Irrevocable Trust dated December 24, 2012

            

    

  

  

  
    
      	

            	4.	
              Ann S. Deshe, trustee of the David Scott Deshe Irrevocable Trust dated December 24, 2012

            

    

  

  

  
    
      	

            	5.	
              Ann S. Deshe, trustee of the Dara Lauren Deshe Irrevocable Trust dated December 24, 2012

            

    

  

  

  
    
      	

            	6.	
              Ann S. Deshe, trustee of the Daniel Matthew Deshe Irrevocable Trust dated December 24, 2012

            

    

  

  

  
    
      	

            	7.	
              Ari Deshe, trustee of the Daniel Matthew Deshe 1987 Subchapter S Trust

            

    

  

  

  
     

  

  

  
     

  

  

  

  “Diamond Family Shareholders” shall refer to:

  

  

  
    
      	

            	1.	
              Jon P. Diamond

            

    

  

  

  
    
      	

            	2.	
              Jon P. Diamond, trustee of the Jacob Diamond 1998 Irrevocable Trust

            

    

  

  

  
    
      	

            	3.	
              Susan S. Diamond, trustee of the Jillian L. Diamond Trust Agreement dated January 5, 2009

            

    

  

  

  
    
      	

            	4.	
              Susan S. Diamond, trustee of the Joshua L. Diamond Trust Agreement dated January 6, 2009

            

    

  

  

  
    
      	

            	5.	
              Susan S. Diamond, trustee of the Jon P. Diamond 2011 Irrevocable Trust No. 1

            

    

  

  
  

  

  
    Schedule 1-1

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