Document:

EX-4.47

 Exhibit 4.47 

THE CHARLES SCHWAB CORPORATION, as Issuer 

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

 
 3.550% Senior
Notes due 2024 
 4.000% Senior Notes due 2029 
  

 
 Twelfth
Supplemental Indenture 
 Dated as of October 31, 2018 

to 
 Senior Indenture
dated as of June 5, 2009 
  

 Table of Contents 

 

							
	 	  	 	  	Page	 
	 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	 
	 Section 1.01 
	  	Definitions	  	 	1	 
	 Section 1.02
	  	Conflicts with Base Indenture	  	 	3	 
		
	 ARTICLE II FORM OF NOTES
	  	 	4	 
	 Section 2.01
	  	Form of Notes	  	 	4	 
		
	 ARTICLE III THE NOTES
	  	 	4	 
	 Section 3.01
	  	Amount; Series; Terms	  	 	4	 
	 Section 3.02
	  	Denominations	  	 	5	 
	 Section 3.03
	  	Execution, Authentication, Delivery and Dating	  	 	5	 
	 Section 3.04
	  	Additional Notes	  	 	6	 
		
	 ARTICLE IV OPTIONAL REDEMPTION OF SECURITIES
	  	 	6	 
	 Section 4.01
	  	Optional Redemption	  	 	6	 
		
	 ARTICLE V COVENANTS AND REMEDIES
	  	 	8	 
	 Section 5.01
	  	Limitations on Liens	  	 	8	 
		
	 ARTICLE VI SUPPLEMENTAL INDENTURES
	  	 	9	 
	 Section 6.01
	  	Supplemental Indentures with Consent of Holders	  	 	9	 
		
	 ARTICLE VII MISCELLANEOUS
	  	 	9	 
	 Section 7.01
	  	Sinking Funds	  	 	9	 
	 Section 7.02
	  	Conversion of Notes	  	 	9	 
	 Section 7.03
	  	Reports by the Company	  	 	9	 
	 Section 7.04
	  	Confirmation of Indenture	  	 	9	 
	 Section 7.05
	  	Counterparts	  	 	9	 
	 Section 7.06
	  	Governing Law	  	 	9	 
	 Section 7.07
	  	Trustee	  	 	10	 
			
	 Exhibit A
	  	Form of 2024 Note	  	 	A-1	 
	 Exhibit B
	  	Form of 2029 Note	  	 	B-1	 

  
 i 

 TWELFTH SUPPLEMENTAL INDENTURE, dated as of October 31, 2018 (“Supplemental
Indenture”), to the Indenture dated as of June 5, 2009 (as amended, modified or supplemented from time to time in accordance therewith, other than with respect to a particular series of debt securities, the “Base
Indenture” and, as amended, modified and supplemented by this Supplemental Indenture, the “Indenture”), by and among THE CHARLES SCHWAB CORPORATION (the “Company”), and THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as trustee (the “Trustee”). 
 Each party agrees as follows for the benefit of the other party and for the
equal and ratable benefit of the Holders of the Notes: 
 WHEREAS, the Company has duly authorized the execution and delivery of the Base
Indenture to provide for the issuance from time to time of senior debt securities to be issued in one or more series as provided in the Base Indenture; 

WHEREAS, the Company has duly authorized the execution and delivery, and desires and has requested the Trustee to join it in the execution and
delivery, of this Supplemental Indenture in order to establish and provide for the issuance by the Company of two new series of Securities designated as its 3.550% Senior Notes due 2024 (the “2024 Notes”) and its 4.000% Senior Notes
due 2029 (the “2029 Notes” and, together with the 2024 Notes, the “Notes”), on the terms set forth herein; 

WHEREAS, Article IX of the Base Indenture provides that a supplemental indenture may be entered into by the parties for such purpose provided
certain conditions are met; 
 WHEREAS, the conditions set forth in the Base Indenture for the execution and delivery of this Supplemental
Indenture have been met; and 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid and legally binding agreement of
the parties, in accordance with its terms, and a valid and legally binding amendment of, and supplement to, the Base Indenture with respect to the Notes have been done; 

NOW, THEREFORE: 
 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.01    Definitions. Capitalized terms used herein and not otherwise defined herein have the meanings
assigned to them in the Base Indenture. The words “herein”, “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any
particular section hereof. 
 As used herein, the following terms have the specified meanings: 

“2024 Notes” has the meaning specified in the recitals of this Supplemental Indenture. 

  
 1 

 “2029 Notes” has the meaning specified in the recitals of this Supplemental
Indenture. 
 “Additional Notes” has the meaning specified in Section 3.04 of this Supplemental Indenture. 

“Base Indenture” has the meaning specified in the recitals of this Supplemental Indenture. 

“Business Day” means any day other than (i) a Saturday or Sunday or (ii) a day on which banking institutions in Los
Angeles, California or New York, New York are authorized or obligated by law or executive order to close. 
 “Company” has
the meaning specified in the recitals of this Supplemental Indenture. 
 “Comparable Treasury Issue” means the United
States Treasury security or securities selected by the Quotation Agent as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Notes. 

“Comparable Treasury Price” means, with respect to any Redemption Date pursuant to Section 4.01 of this Supplemental
Indenture, (A) the arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Quotation Agent obtains fewer than
five such Reference Treasury Dealer Quotations, the arithmetic average of all such quotations for such Redemption Date. 

“Depositary” means The Depository Trust Company or such other Depositary designated by the Company from time to time. 

“EDGAR” means the Electronic Data Gathering, Analysis and Retrieval system or such successor system so designated by the
Commission. 
 “Indenture” has the meaning specified in the recitals of this Supplemental Indenture. 

“Interest Payment Date” has the meaning set forth in Section 3.01(d) of this Supplemental Indenture. 

“ISIN” means International Securities Identifying Number. 

“Notes” has the meaning specified in the recitals of this Supplemental Indenture. 

“Permitted Liens” has the meaning set forth in Section 5.01 of this Supplemental Indenture. 

“Primary Treasury Dealer” means a primary U.S. Government securities dealer in the United States. 

  
 2 

 “Quotation Agent” means the Reference Treasury Dealer that is selected by
the Company in connection with an optional redemption pursuant to Article IV hereof to act as Quotation Agent in addition to acting as a Reference Treasury Dealer; provided, however, that if such Reference Treasury Dealer ceases to be a Primary
Treasury Dealer, the Company will substitute another Primary Treasury Dealer. 
 “Redemption Date,” when used with respect
to any Note to be redeemed, means the date specified for redemption by the Company. 
 “Redemption Price” means, when used
with respect to any Note to be redeemed, the price at which it is to be redeemed pursuant to this Supplemental Indenture. 

“Reference Treasury Dealer” means each of (i) Citigroup Global Markets Inc. (or its successor) or any affiliate
that is a Primary Treasury Dealer, (ii) Credit Suisse Securities (USA) LLC (or its successor) or any affiliate that is a Primary Treasury Dealer, (iii) J.P. Morgan Securities LLC (or its successor) or any affiliate that is a Primary
Treasury Dealer, (iv) Merrill Lynch, Pierce, Fenner & Smith Incorporated (or its successor) or any affiliate that is a Primary Treasury Dealer, (v) Morgan Stanley & Co. LLC (or its successor) or any affiliate that is a
Primary Treasury Dealer, and (vi) one other Primary Treasury Dealer that is selected by the Company; provided, however, that if any of the foregoing or their affiliates cease to be a Primary Treasury Dealer, the Company will substitute therefor
another Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the
Quotation Agent by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Regular Record Date” has the meaning set forth in Section 3.01(d) of this Supplemental Indenture. 

“Supplemental Indenture” has the meaning specified in the recitals of this Supplemental Indenture. 

“Treasury Rate” means, with respect to any Redemption Date pursuant to Section 4.01 of this Supplemental Indenture, the
rate per annum equal to the semiannual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal
to the Comparable Treasury Price for such Redemption Date. 
 “Voting Securities” has the meaning specified in
Section 5.01 of this Supplemental Indenture. 
 Section 1.02    Conflicts with Base Indenture. In the
event that any provision of this Supplemental Indenture limits, qualifies or conflicts with a provision of the Base Indenture, such provision of this Supplemental Indenture shall control. 

  
 3 

 ARTICLE II 

FORM OF NOTES 

Section 2.01    Form of Notes. The Notes shall be substantially in the forms of Exhibit A and Exhibit B for
the 2024 Notes and the 2029 Notes, respectively, hereto which are hereby incorporated in and expressly made a part of this Indenture. 

ARTICLE III 
 THE NOTES 

Section 3.01    Amount; Series; Terms. 

(a)    There are hereby created and designated two series of Securities under the Base Indenture: the title of the 2024
Notes shall be “3.550% Senior Notes Due 2024” and the title of the 2029 Notes shall be “4.000% Senior Notes Due 2029”. The changes, modifications and supplements to the Base Indenture effected by this Supplemental Indenture shall
be applicable only with respect to, and govern the terms of, the Notes of the applicable series and shall not apply to any other series of Securities that may be issued under the Base Indenture unless a supplemental indenture with respect to such
other series of Securities specifically incorporates such changes, modifications and supplements. 
 (b)    The
aggregate principal amount of 2024 Notes that initially may be authenticated and delivered under this Supplemental Indenture shall be limited to $500,000,000, and the aggregate principal amount of 2029 Notes that initially may be authenticated and
delivered under this Supplemental Indenture shall be limited to $600,000,000, each subject to increase as set forth in Section 3.04 of this Supplemental Indenture. 

(c)    The Stated Maturity of the 2024 Notes shall be February 1, 2024 and the Stated Maturity of the 2029 Notes
shall be February 1, 2029. The Notes shall be payable and may be presented for payment, redemption, registration of transfer and exchange, without service charge, at the Corporate Trust Office. 

(d)    The 2024 Notes shall bear interest at the rate of 3.550% per annum from and including October 31, 2018, or
from and including the most recent date to which interest has been paid or duly provided for, as further provided in the form of 2024 Notes annexed hereto as Exhibit A. The 2029 Notes shall bear interest at the rate of 4.000% per annum from and
including October 31, 2018, or from and including the most recent date to which interest has been paid or duly provided for, as further provided in the form of 2029 Notes annexed hereto as Exhibit B. Interest shall be computed on the basis
of a 360-day year composed of twelve 30-day months. The dates on which such interest shall be payable (each, an “Interest Payment Date”) shall be
February 1 and August 1 of each year, commencing on February 1, 2019 and the “Regular Record Date” for any interest payable on each such Interest Payment Date shall be the close of business on the immediately
preceding January 15 and July 15, respectively, whether or not a Business Day. Interest will be payable to the Holder of record on the Regular Record Date, provided, however, interest payable on the Stated Maturity of any series of Notes
will be paid to the person to whom the principal will be payable. 

  
 4 

 (e)    If any Interest Payment Date, Redemption Date or the Stated
Maturity of the applicable series of Notes is not a Business Day, then the related payment of interest and/or principal payable, as applicable, on such date will be paid on the next succeeding Business Day with the same force and effect as if made
on such Interest Payment Date, Redemption Date or Stated Maturity and no further interest will accrue as a result of such delay. 

(f)    Each series of Notes will be issued in the form of one or more Global Securities, duly executed by the Company and
authenticated by the Trustee as provided in Section 3.03 of this Supplemental Indenture and the Base Indenture and deposited with the Trustee as custodian for the Depositary or its nominee. 

(g)    Initially, the Trustee will act as Paying Agent. The Company may change any Paying Agent without notice to the
Holders. 
 Section 3.02    Denominations. The Notes shall be issuable only in registered form without
coupons and only in denominations of $2,000 and any multiple of $1,000 in excess thereof. 

Section 3.03    Execution, Authentication, Delivery and Dating. The Notes shall be executed on behalf of the
Company by its Chairman of the Board, its Chief Executive Officer, its Chief Financial Officer or its Treasurer, and attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Notes may be manual or
facsimile and shall not be required to be under the Company’s corporate seal. 
 Notes bearing the manual or facsimile signatures of
individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold
such offices at the date of such Notes. 
 Pursuant to a Company Order, the Trustee shall authenticate for original issue Notes in an
aggregate principal amount specified in the Company Order. The Trustee shall be provided with an Officer’s Certificate and an Opinion of Counsel of the Company that it may reasonably request in connection with such authentication of Notes. Such
Company Order shall specify the amount of Notes to be authenticated and the date on which the original issue of Notes is to be authenticated. 

Each Note shall be dated the date of its authentication. 

No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Note a
certificate of authentication substantially in the form provided for in the Base Indenture executed by the Trustee by manual or facsimile signature, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such
Note has been duly authenticated and delivered hereunder. 

  
 5 

 Section 3.04    Additional Notes. The Company may, from time
to time, subject to compliance with any other applicable provisions of this Indenture, without notice to or consent of the Holders of the Notes, create and issue pursuant to this Indenture additional Notes of either series (“Additional
Notes”) having terms and conditions set forth in this Supplemental Indenture, identical to the Notes of one of the two series issued on the date hereof, except that Additional Notes may: 

(i)    have a different issue date than other Outstanding Notes of such series; 

(ii)    have a different issue price than other Outstanding Notes of such series; 

(iii)    have a different initial Interest Payment Date than other Outstanding Notes of such series; and

 (iv)    have a different amount of interest payable on the first Interest Payment Date after issuance
than is payable on other Outstanding Notes of such series; 
 provided, no Additional Notes shall be issued unless such Additional Notes will be fungible
for U.S. federal income tax and securities law purposes with Notes of one of the two series issued on the date hereof; and provided further, the Additional Notes have the same CUSIP number as the Notes of one of the two series issued on the date
hereof. No Additional Notes may be issued if on the issue date therefor, any Event of Default has occurred and is continuing. 
 The Notes
issued on the date hereof and any Additional Notes of the same series shall be treated as a single class for all purposes under this Indenture, including waivers, amendments and United States federal tax purposes. 

With respect to any issuance of Additional Notes, the Company shall deliver to the Trustee a resolution of the Board of Directors or, if
applicable, a certificate signed by the Chairman of the Board of Directors of the Company, the Chief Executive Officer, the Chief Financial Officer or the Treasurer of the Company and an Officers’ Certificate in respect of such Additional
Notes, which shall together provide the following information: 
 (i) the aggregate principal amount of such Additional
Notes to be authenticated and delivered pursuant to this Indenture; and 
 (ii) the issue date, issue price, the first
Interest Payment Date, the amount of interest accrued and payable on the first Interest Payment Date, the applicable series, the CUSIP number and corresponding ISIN of such Additional Notes. 

ARTICLE IV 
 OPTIONAL REDEMPTION
OF SECURITIES 
 Section 4.01    Optional Redemption. 

  
 6 

 (a)    The provisions of Article XI of the Base Indenture, as
supplemented by the provisions of this Supplemental Indenture, shall apply to the Notes. 
 (b)    On or after
May 1, 2019 and prior to January 1, 2024, the 2024 Notes shall be redeemable, as a whole or in part, at the Company’s option, on at least 10 days, but not more than 60 days, prior notice electronically delivered or mailed to each
registered Holder of the 2024 Notes to be redeemed, at a Redemption Price equal to the greater of (i) 100% of the principal amount of the 2024 Notes to be redeemed, or (ii) as determined by the Quotation Agent, the sum of the present values of
the remaining scheduled payments of interest and principal thereon (exclusive of interest accrued and unpaid to, but not including, the Redemption Date) discounted to the Redemption Date on a semiannual basis, assuming a 360-day year consisting of twelve 30-day months, at the Treasury Rate plus 10 basis points, plus, in either case, accrued and unpaid interest to, but not including, the
Redemption Date for such 2024 Notes; provided, however, if the Redemption Date is after a Regular Record Date and on or prior to a corresponding Interest Payment Date, such accrued and unpaid interest will be paid on the Redemption Date to the
holder of record on the Regular Record Date. 
 (c)    On or after January 1, 2024, the 2024 Notes shall be
redeemable, as a whole or in part, at the Company’s option, on at least 10 days, but not more than 60 days, prior notice electronically delivered or mailed to each registered Holder of the 2024 Notes to be redeemed, at a Redemption Price equal
to 100% of the principal amount of the 2024 Notes to be redeemed plus accrued and unpaid interest to, but not including, the Redemption Date for such 2024 Notes. 

(d)    On or after May 1, 2019 and prior to November 1, 2028, the 2029 Notes shall be redeemable, as a whole or
in part, at the Company’s option, on at least 10 days, but not more than 60 days, prior notice electronically delivered or mailed to each registered Holder of the 2029 Notes to be redeemed, at a Redemption Price equal to the greater of (i) 100%
of the principal amount of the 2029 Notes to be redeemed, or (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of interest and principal thereon (exclusive of interest accrued and
unpaid to, but not including, the Redemption Date) discounted to the Redemption Date on a semiannual basis, assuming a 360-day year consisting of twelve 30-day months,
at the Treasury Rate plus 15 basis points, plus, in either case, accrued and unpaid interest to, but not including, the Redemption Date for such 2029 Notes; provided, however, if the Redemption Date is after a Regular Record Date and on or prior to
a corresponding Interest Payment Date, such accrued and unpaid interest will be paid on the Redemption Date to the holder of record on the Regular Record Date. 

(e)    On or after November 1, 2028, the 2029 Notes shall be redeemable, as a whole or in part, at the Company’s
option, on at least 10 days, but not more than 60 days, prior notice electronically delivered or mailed to each registered Holder of the 2029 Notes to be redeemed, at a Redemption Price equal to 100% of the principal amount of the 2029 Notes to be
redeemed plus accrued and unpaid interest to, but not including, the Redemption Date for such 2029 Notes. 

  
 7 

 (f)    On and after the Redemption Date for the applicable series of
Notes to be redeemed, interest will cease to accrue on such Notes or any portion thereof called for redemption, unless the Company defaults in the payment of the Redemption Price and accrued interest, if any. On or before the Redemption Date for
such Notes, the Company shall deposit with the Trustee or a Paying Agent, funds sufficient to pay the Redemption Price of the applicable series of Notes to be redeemed on the Redemption Date, and accrued and unpaid interest, if any, on such Notes.
If less than all of the applicable series of Notes are to be redeemed, the Notes to be redeemed shall be selected in accordance with the procedures of the Depositary; provided, however, that in no event, shall Notes of a principal amount of $2,000
or less be redeemed in part. 
 (g)    Notice of any redemption shall be mailed (or otherwise electronically delivered)
at least 10 days but not more than 60 days before the Redemption Date to each Holder of the applicable series of Notes to be redeemed; provided, however, that if the Trustee is asked to give such notice it shall be notified in writing of such
request at least 5 days prior to the date of the giving of such notice (unless a shorter notice shall be satisfactory to the Trustee). Such notice shall state the Redemption Price (if known) or the formula pursuant to which the Redemption Price is
to be determined if the Redemption Price cannot be determined at the time the notice is given. If the Redemption Price cannot be determined at the time such notice is to be given, the actual Redemption Price, calculated as described above in clause
(b) or (c), in the case of the 2024 Notes, or in clause (d) or (e), in the case of the 2029 Notes, shall be set forth in an Officer’s Certificate of the Company delivered to the Trustee no later than two Business Days prior to the
Redemption Date. Notice of redemption having been given as provided in the Indenture, the applicable series of Notes called for redemption shall become due and payable on the Redemption Date and at the applicable Redemption Price, plus accrued and
unpaid interest, if any, to, but not including, the Redemption Date. 
 ARTICLE V 

COVENANTS AND REMEDIES 

Section 5.01    Limitations on Liens. The Company (or any successor corporation) will not, and will not permit
any Subsidiary to, create, assume, incur or guarantee any indebtedness for borrowed money secured by a pledge, lien or other encumbrance, except for Permitted Liens (defined below), on the Voting Securities (defined below) of Charles
Schwab & Co., Inc., Charles Schwab Bank, Charles Schwab Investment Management, Inc., or Schwab Holdings, Inc. unless the Company shall cause the Notes to be secured equally and ratably with (or, at the Company’s option, prior to) any
indebtedness secured thereby. “Permitted Liens” means (i) liens for taxes or assessments or governmental charges or levies (a) that are not then due and delinquent, (b) the validity of which is being contested in good
faith or (c) which are less than $1,000,000 in amount; (ii) liens created by or resulting from any litigation or legal proceedings which are currently being contested in good faith by appropriate proceedings or which involve claims of less
than $1,000,000; (iii) deposits to secure (or in lieu of) surety, stay, appeal or customs bonds; and (iv) such other liens as the Board of Directors of the Company determines do not materially detract from or interfere with the present value or
control of the Voting Securities subject thereto or affected thereby. 

  
 8 

 
“Voting Securities” means stock of any class or classes having general voting power under ordinary circumstances to elect a majority of the board of directors, managers or
trustees of the corporation in question, provided that, for the purposes hereof, stock which carries only the right to vote conditionally on the happening of an event shall not be considered voting stock whether or not such event shall have
happened. 
 ARTICLE VI 

SUPPLEMENTAL INDENTURES 

Section 6.01    Supplemental Indentures with Consent of Holders. The terms of this Supplemental Indenture may
be modified as set forth in Article IX of the Base Indenture. For the avoidance of doubt, no supplemental indenture shall, without the consent of the Holder of each Outstanding Note of a series affected thereby, reduce the Redemption Price of any
Note of the same series. 
 ARTICLE VII 

MISCELLANEOUS 

Section 7.01    Sinking Funds. Article XII of the Base Indenture shall have no application. The Notes shall
not have the benefit of a sinking fund. 
 Section 7.02    Conversion of Notes. Article XIV of the Base
Indenture shall have no application. The Notes shall not be convertible into shares of Common Stock of the Company. 

Section 7.03    Reports by the Company. The Company shall be deemed to have complied with the first sentence
of Section 7.4 of the Base Indenture to the extent that such information, documents and reports are filed with the Commission via EDGAR (or any successor electronic delivery procedure); provided, however, that the Trustee shall have no
obligation whatsoever to determine whether or not such information, documents or reports have been filed pursuant to the EDGAR system (or its successor). 

Section 7.04    Confirmation of Indenture. The Base Indenture, as supplemented and amended by this
Supplemental Indenture and all other indentures supplemental thereto, is in all respects ratified and confirmed, and the Base Indenture, this Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one
and the same instrument. 
 Section 7.05    Counterparts. The parties hereto may sign one or more copies of
this Supplemental Indenture in counterparts, all of which together shall constitute one and the same agreement. 

Section 7.06    Governing Law. THIS SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF CALIFORNIA. 

  
 9 

 Section 7.07    Trustee. The Trustee makes no
representations as to the validity or sufficiency of this Supplemental Indenture. The recitals herein are deemed to be those of the Company and not of the Trustee. 

[Remainder of Page Intentionally Left Blank] 

  
 10 

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

			
	 THE CHARLES SCHWAB CORPORATION,
 as
Issuer

		
	By:	 	/s/ Peter Crawford
		 	 Name: Peter Crawford
 Title:
  Executive Vice President and
             Chief Financial Officer

  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	/s/ R. Tarnas
		 	 Name: R. Tarnas
 Title:   Vice
President

  
 11 

 EXHIBIT A 

FORM OF 2024 NOTE 
 THIS
SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO
TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 
 TRANSFERS OF THIS NOTE ARE LIMITED TO TRANSFERS IN WHOLE,
BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO
ON THE REVERSE HEREOF. 

  
 A-1 

 THE CHARLES SCHWAB CORPORATION 

3.550% Senior Notes due 2024 
  

			
	 No. [    ]
	  	CUSIP No.: 808513 AY1
ISIN No.: US808513AY14

 THE CHARLES SCHWAB CORPORATION, a Delaware corporation (the “Issuer”), for value received
promises to pay to CEDE & CO., or its registered assigns, the principal sum of
[                                ] DOLLARS, or such lesser amount as is indicated in the
records of the Trustee and Depositary, on February 1, 2024. 
 Interest Payment Dates: February 1 and August 1 of each year
(each, an “Interest Payment Date”), commencing on February 1, 2019. 
 Interest Record Dates: January 15 and
July 15 (each, a “Regular Record Date”). 
 Reference is made to the further provisions of this Note contained herein,
which will for all purposes have the same effect as if set forth at this place. 
 Dated: October 31, 2018 

  
 A-2 

 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by
its duly authorized officers. 
  

			
	THE CHARLES SCHWAB CORPORATION
		
	By:	 	 
		 	 Name: William F. Quinn
 Title:
  Senior Vice President and Treasurer

 Attest: 

_______________________________ 
 Name: 

Title: 

  
 A-3 

 This is one of the Notes of the series designated herein and referred to in the within-mentioned Indenture.

  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 
		 	 Authorized Signatory

 Dated: October 31, 2018 

  
 A-4 

 (REVERSE OF NOTE) 

THE CHARLES SCHWAB CORPORATION 

3.550% Senior Notes due 2024 

1.    Interest. 

The Charles Schwab Corporation (the “Issuer”) promises to pay interest on the principal amount of this Note at the rate per
annum described above. Cash interest on the Notes will accrue from the most recent date to which interest has been paid; or, if no interest has been paid, from and including October 31, 2018. Interest on this Note will be paid to but excluding
the relevant Interest Payment Date or on such earlier date as the principal amount shall become due in accordance with the provisions hereof. Interest will be payable to the Holder of record on the Regular Record Date, provided, however, interest
payable on the Stated Maturity will be paid to the person to whom the principal will be payable. The Issuer will pay interest semi-annually in arrears on each Interest Payment Date, commencing February 1, 2019. If any Interest Payment Date,
Redemption Date or the Stated Maturity of the Notes is not a Business Day, then the related payment of interest and/or principal payable, as applicable, on such date will be paid on the next succeeding Business Day with the same force and effect as
if made on such Interest Payment Date Redemption Date or Stated Maturity and no further interest will accrue as a result of such delay. Interest will be computed on the basis of a 360-day year consisting of
twelve 30-day months. 
 The Issuer shall pay interest on overdue principal from time to time on
demand by the Trustee pursuant to Section 5.3 of the Base Indenture (defined below) at the rate borne by the Notes and on overdue installments of interest (without regard to any applicable grace periods) to the extent lawful. 

2.    Paying Agent. 

Initially, The Bank of New York Mellon Trust Company, N.A. (the “Trustee”) will act as paying agent (the “Paying
Agent”). The Issuer may change any paying agent without notice to the Holders. 
 3.    Indenture; Defined
Terms. 
 This Note is one of the 3.550% Senior Notes due 2024 (the “Notes”) issued under the Senior Indenture dated as of
June 5, 2009 (as amended, modified or supplemented from time to time in accordance therewith, the “Base Indenture” and, as amended, modified and supplemented by the Twelfth Supplemental Indenture dated as of October 31,
2018, the “Indenture”) by and between the Issuer and the Trustee, as trustee. This Note is a “Global Security” and the Notes are “Global Securities” under the Indenture. 

For purposes of this Note, unless otherwise defined herein, capitalized terms herein are used as defined in the Indenture. The terms of the
Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the “TIA”) as in effect on the date on which the Indenture was
qualified under the TIA. Notwithstanding anything to the contrary herein, the Notes are subject to all such terms, and holders of Notes are referred to the Indenture and the TIA for a statement of them. To the extent the terms of the Indenture and
this Note are inconsistent, the terms of the Indenture shall govern. 

  
 A-5 

 4.    Denominations; Transfer; Exchange. 

The Notes are in registered form, without coupons, in denominations of $2,000 and multiples of $1,000 thereafter. A Holder shall register the
transfer or exchange of Notes in accordance with the Indenture. The Issuer may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable
in connection therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any Notes or portions thereof for a period of fifteen (15) days before the electronic delivery or mailing of a
notice of redemption, nor need the Issuer register the transfer or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

5.    Amendment; Modification; Waiver. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Issuer and the rights of the Holders of the Securities of all series affected under the Indenture at any time by the Issuer and the Trustee with the consent of the Holders of not less than a majority in aggregate principal amount of the
Securities of all series at the time Outstanding affected thereby (voting together as a single class). The Indenture contains provisions permitting the Holders of not less than a majority in aggregate principal amount of the Securities of all series
at the time Outstanding with respect to which an Event of Default under the Indenture shall have occurred and be continuing (voting together as a single class), on behalf of the Holders of all Securities of such affected series, to waive, with
certain exceptions, such past default with respect to all such series and its consequences. The Indenture also permits the Holders of not less than a majority in aggregate principal amount of the Securities of each series at the time Outstanding
affected thereby (voting together as a single class), on behalf of the Holders of all Securities of such affected series, to waive compliance by the Issuer with certain provisions of the Indenture. Any such consent or waiver by the Holder of this
Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Security issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Note. 
 6.    Optional Redemption. 

Beginning on or after May 1, 2019, the Issuer may redeem the Notes in whole or in part, at its option, at any time or from time to time
prior to maturity on at least 10 days, but not more than 60 days, prior notice electronically delivered or mailed to each registered Holder of the Notes (the “Redemption Date”). 

  
 A-6 

 If any or all of the Notes are redeemed on or after May 1, 2019 and before
January 1, 2024, the redemption price will be equal to the greater of: (i) 100% of the principal amount of the Notes to be redeemed, or (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled
payments of interest and principal thereon (exclusive of interest accrued and unpaid to, but not including, the Redemption Date) discounted to the Redemption Date, on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months), at a rate equal to the sum of the Treasury Rate plus 10 basis points, plus, in either case, accrued interest thereon to, but not including, the Redemption Date;
provided, however, if the Redemption Date is after a Regular Record Date and on or prior to a corresponding Interest Payment Date, such accrued and unpaid interest will be paid on the Redemption Date to the holder of record on the Regular Record
Date. 
 If any or all of the Notes are redeemed on or after January 1, 2024, the redemption price will be equal to 100% of the
principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but not including, the Redemption Date for such Notes. 

On and after the Redemption Date for the Notes, interest will cease to accrue on the Notes or any portion thereof called for redemption,
unless the Issuer defaults in the payment of the Redemption Price and accrued interest, if any. On or before the Redemption Date for the Notes, the Issuer shall deposit with the Trustee or a Paying Agent, funds sufficient to pay the Redemption Price
of the Notes to be redeemed on the Redemption Date, and accrued and unpaid interest, if any, on such Notes. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected in accordance with the procedures of the
Depositary; provided, however, that in no event, shall Notes of a principal amount of $2,000 or less be redeemed in part. 
 Notice of any
redemption shall be mailed (or otherwise electronically delivered) at least 10 days but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed; provided, however, that if the Trustee is asked to give such notice
it shall be notified in writing of such request at least 5 days prior to the date of the giving of such notice (unless a shorter notice shall be satisfactory to the Trustee). Such notice shall state the Redemption Price (if known) or the formula
pursuant to which the Redemption Price is to be determined if the Redemption Price cannot be determined at the time the notice is given. If the Redemption Price cannot be determined at the time such notice is to be given, the actual Redemption
Price, calculated as described above, shall be set forth in an Officer’s Certificate of the Issuer delivered to the Trustee no later than two Business Days prior to the Redemption Date. Notice of redemption having been given as provided in the
Indenture, the Notes called for redemption shall become due and payable on the Redemption Date and at the applicable Redemption Price, plus accrued and unpaid interest, if any, to, but not including, the Redemption Date. 

7.    Defaults and Remedies. 

If an Event of Default with respect to Notes at the time Outstanding occurs and is continuing, then in every such case the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Securities of all affected series then Outstanding (voting together as a single class) may declare the principal amount of all the Securities of the affected series to be due and
payable immediately, by a notice in writing to the Issuer (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) of and the accrued interest on all the Securities of such affected series
shall become immediately due and payable. 

  
 A-7 

 The Indenture permits, subject to certain limitations therein provided, Holders of not less
than a majority in aggregate principal amount of the Securities of all affected series (voting together as a single class) at the time Outstanding, to direct the time, method and place of conducting any proceeding for any remedy available to the
Trustee or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series. 

8.    Authentication. 

This Note shall not be valid until the Trustee manually or by facsimile signs the certificate of authentication on this Note. 

9.    Abbreviations and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT
(= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

10.    CUSIP Numbers. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers
to be printed on the Notes as a convenience to the Holders of the Notes. No representation is made as to the accuracy of such numbers as printed on the Notes and reliance may be placed only on the other identification numbers printed hereon. 

11.    Governing Law. 

This Note and the Indenture shall be governed by, and construed in accordance with, the laws of the State of California. 

  
 A-8 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign
and transfer this Note to 
 (Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 

and irrevocably
appoint                            as agent to transfer this Note on the books of the Issuer. The agent may
substitute another to act for him. 
  
  

Date:                         
                            Your
Signature:                                     

 
  

Sign exactly as your name appears on the other side of this Note. 
  

					
	Signature Guarantee:	 		  	Signature
			
	    	 		  	    
	Signature must be guaranteed	 		  	Signature

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the United States Securities Exchange Act of 1934, as amended. 

  
 A-9 

 EXHIBIT B 

FORM OF 2029 NOTE 
 THIS
SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO
TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 
 TRANSFERS OF THIS NOTE ARE LIMITED TO TRANSFERS IN WHOLE,
BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO
ON THE REVERSE HEREOF. 

  
 B-1 

 THE CHARLES SCHWAB CORPORATION 

4.000% Senior Notes due 2029 
  

			
	 No. [    ]
	  	CUSIP No.: 808513 AZ8
ISIN No.: US808513AZ88

 THE CHARLES SCHWAB CORPORATION, a Delaware corporation (the “Issuer”), for value received
promises to pay to CEDE & CO., or its registered assigns, the principal sum of
[                                ] DOLLARS, or such lesser amount as is indicated in the
records of the Trustee and Depositary, on February 1, 2029. 
 Interest Payment Dates: February 1 and August 1 of each year
(each, an “Interest Payment Date”), commencing on February 1, 2019. 
 Interest Record Dates: January 15 and
July 15 (each, a “Regular Record Date”). 
 Reference is made to the further provisions of this Note contained herein,
which will for all purposes have the same effect as if set forth at this place. 
 Dated: October 31, 2018 

  
 B-2 

 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by
its duly authorized officers. 
  

			
	THE CHARLES SCHWAB CORPORATION
		
	By:	 	 
		 	 Name: William F. Quinn
 Title:
  Senior Vice President and Treasurer

 Attest: 

_______________________________ 
 Name: 

Title: 

  
 B-3 

 This is one of the Notes of the series designated herein and referred to in the within-mentioned Indenture.

  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 
		 	 Authorized Signatory

 Dated: October 31, 2018 

  
 B-4 

 (REVERSE OF NOTE) 

THE CHARLES SCHWAB CORPORATION 

4.000% Senior Notes due 2029 

1.    Interest. 

The Charles Schwab Corporation (the “Issuer”) promises to pay interest on the principal amount of this Note at the rate per
annum described above. Cash interest on the Notes will accrue from the most recent date to which interest has been paid; or, if no interest has been paid, from and including October 31, 2018. Interest on this Note will be paid to but excluding
the relevant Interest Payment Date or on such earlier date as the principal amount shall become due in accordance with the provisions hereof. Interest will be payable to the Holder of record on the Regular Record Date, provided, however, interest
payable on the Stated Maturity will be paid to the person to whom the principal will be payable. The Issuer will pay interest semi-annually in arrears on each Interest Payment Date, commencing February 1, 2019. If any Interest Payment Date,
Redemption Date or the Stated Maturity of the Notes is not a Business Day, then the related payment of interest and/or principal payable, as applicable, on such date will be paid on the next succeeding Business Day with the same force and effect as
if made on such Interest Payment Date, Redemption Date or Stated Maturity and no further interest will accrue as a result of such delay. Interest will be computed on the basis of a 360-day year consisting of
twelve 30-day months. 
 The Issuer shall pay interest on overdue principal from time to time on
demand by the Trustee pursuant to Section 5.3 of the Base Indenture (defined below) at the rate borne by the Notes and on overdue installments of interest (without regard to any applicable grace periods) to the extent lawful. 

2.    Paying Agent. 

Initially, The Bank of New York Mellon Trust Company, N.A. (the “Trustee”) will act as paying agent (the “Paying
Agent”). The Issuer may change any paying agent without notice to the Holders. 
 3.    Indenture; Defined
Terms. 
 This Note is one of the 4.000% Senior Notes due 2029 (the “Notes”) issued under the Senior Indenture dated as of
June 5, 2009 (as amended, modified or supplemented from time to time in accordance therewith, the “Base Indenture” and, as amended, modified and supplemented by the Twelfth Supplemental Indenture dated as of October 31,
2018, the “Indenture”) by and between the Issuer and the Trustee, as trustee. This Note is a “Global Security” and the Notes are “Global Securities” under the Indenture. 

For purposes of this Note, unless otherwise defined herein, capitalized terms herein are used as defined in the Indenture. The terms of the
Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the “TIA”) as in effect on the date on which the Indenture was
qualified under the TIA. Notwithstanding anything to the contrary herein, the Notes are subject to all such terms, and holders of Notes are referred to the Indenture and the TIA for a statement of them. To the extent the terms of the Indenture and
this Note are inconsistent, the terms of the Indenture shall govern. 

  
 B-5 

 4.    Denominations; Transfer; Exchange. 

The Notes are in registered form, without coupons, in denominations of $2,000 and multiples of $1,000 thereafter. A Holder shall register the
transfer or exchange of Notes in accordance with the Indenture. The Issuer may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable
in connection therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any Notes or portions thereof for a period of fifteen (15) days before the electronic delivery or mailing of a
notice of redemption, nor need the Issuer register the transfer or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

5.    Amendment; Modification; Waiver. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Issuer and the rights of the Holders of the Securities of all series affected under the Indenture at any time by the Issuer and the Trustee with the consent of the Holders of not less than a majority in aggregate principal amount of the
Securities of all series at the time Outstanding affected thereby (voting together as a single class). The Indenture contains provisions permitting the Holders of not less than a majority in aggregate principal amount of the Securities of all series
at the time Outstanding with respect to which an Event of Default under the Indenture shall have occurred and be continuing (voting together as a single class), on behalf of the Holders of all Securities of such affected series, to waive, with
certain exceptions, such past default with respect to all such series and its consequences. The Indenture also permits the Holders of not less than a majority in aggregate principal amount of the Securities of each series at the time Outstanding
affected thereby (voting together as a single class), on behalf of the Holders of all Securities of such affected series, to waive compliance by the Issuer with certain provisions of the Indenture. Any such consent or waiver by the Holder of this
Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Security issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Note. 
 6.    Optional Redemption. 

Beginning on or after May 1, 2019, the Issuer may redeem the Notes in whole or in part, at its option, at any time or from time to time
prior to maturity on at least 10 days, but not more than 60 days, prior notice electronically delivered or mailed to each registered Holder of the Notes (the “Redemption Date”). 

  
 B-6 

 If any or all of the Notes are redeemed on or after May 1, 2019 and before
November 1, 2028 the redemption price will be equal to the greater of: (i) 100% of the principal amount of the Notes to be redeemed, or (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled
payments of interest and principal thereon (exclusive of interest accrued and unpaid to, but not including, the Redemption Date) discounted to the Redemption Date, on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months), at a rate equal to the sum of the Treasury Rate plus 15 basis points, plus, in either case, accrued interest thereon to, but not including, the Redemption Date;
provided, however, if the Redemption Date is after a Regular Record Date and on or prior to a corresponding Interest Payment Date, such accrued and unpaid interest will be paid on the Redemption Date to the holder of record on the Regular Record
Date. 
 If any or all of the Notes are redeemed on or after November 1, 2028, the redemption price will be equal to 100% of the
principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but not including, the Redemption Date for such Notes. 

On and after the Redemption Date for the Notes, interest will cease to accrue on the Notes or any portion thereof called for redemption,
unless the Issuer defaults in the payment of the Redemption Price and accrued interest, if any. On or before the Redemption Date for the Notes, the Issuer shall deposit with the Trustee or a Paying Agent, funds sufficient to pay the Redemption Price
of the Notes to be redeemed on the Redemption Date, and accrued and unpaid interest, if any, on such Notes. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected in accordance with the procedures of the
Depositary; provided, however, that in no event, shall Notes of a principal amount of $2,000 or less be redeemed in part. 
 Notice of any
redemption shall be mailed (or otherwise electronically delivered) at least 10 days but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed; provided, however, that if the Trustee is asked to give such notice
it shall be notified in writing of such request at least 5 days prior to the date of the giving of such notice (unless a shorter notice shall be satisfactory to the Trustee). Such notice shall state the Redemption Price (if known) or the formula
pursuant to which the Redemption Price is to be determined if the Redemption Price cannot be determined at the time the notice is given. If the Redemption Price cannot be determined at the time such notice is to be given, the actual Redemption
Price, calculated as described above, shall be set forth in an Officer’s Certificate of the Issuer delivered to the Trustee no later than two Business Days prior to the Redemption Date. Notice of redemption having been given as provided in the
Indenture, the Notes called for redemption shall become due and payable on the Redemption Date and at the applicable Redemption Price, plus accrued and unpaid interest, if any, to, but not including, the Redemption Date. 

7.    Defaults and Remedies. 

If an Event of Default with respect to Notes at the time Outstanding occurs and is continuing, then in every such case the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Securities of all affected series then Outstanding (voting together as a single class) may declare the principal amount of all the Securities of the affected series to be due and
payable immediately, by a notice in writing to the Issuer (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) of and the accrued interest on all the Securities of such affected series
shall become immediately due and payable. 

  
 B-7 

 The Indenture permits, subject to certain limitations therein provided, Holders of not less
than a majority in aggregate principal amount of the Securities of all affected series (voting together as a single class) at the time Outstanding, to direct the time, method and place of conducting any proceeding for any remedy available to the
Trustee or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series. 

8.    Authentication. 

This Note shall not be valid until the Trustee manually or by facsimile signs the certificate of authentication on this Note. 

9.    Abbreviations and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT
(= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

10.    CUSIP Numbers. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers
to be printed on the Notes as a convenience to the Holders of the Notes. No representation is made as to the accuracy of such numbers as printed on the Notes and reliance may be placed only on the other identification numbers printed hereon. 

11.    Governing Law. 

This Note and the Indenture shall be governed by, and construed in accordance with, the laws of the State of California. 

  
 B-8 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign
and transfer this Note to 
 (Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 

and irrevocably appoint                as agent to transfer this Note on the
books of the Issuer. The agent may substitute another to act for him. 
  

 

Date:                         
                            Your
Signature:                                     

 
  

Sign exactly as your name appears on the other side of this Note. 
  

					
	Signature Guarantee:	 		  	Signature
			
	    	 		  	    
	Signature must be guaranteed	 		  	Signature

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the United States Securities Exchange Act of 1934, as amended. 

  
 B-9Exhibit

Execution Version

===================================================================
FIRST AMENDMENT
TO
AMENDED AND RESTATED SYNDICATED FACILITY AGREEMENT
dated as of
October 26, 2018
among
CIVEO CORPORATION, 
 
CIVEO CANADA LIMITED PARTNERSHIP,
CIVEO PTY LIMITED
and
CIVEO MANAGEMENT LLC, 
 
as Borrowers
THE LENDERS NAMED HEREIN,
ROYAL BANK OF CANADA, 
as Administrative Agent, U.S. Collateral Agent, 
Canadian Administrative Agent, Canadian Collateral Agent 
and an Issuing Bank,
and
RBC EUROPE LIMITED, 
as Australian Administrative Agent, Australian Collateral Agent 
and an Issuing Bank
=============================================

RBC CAPITAL MARKETS, (1)
as Lead Arranger and Sole Bookrunner

(1)RBC Capital Markets is the global brand name of the corporate and investment banking business of Royal Bank of Canada and its affiliates. 
 

US-DOCS\103672518.6

FIRST AMENDMENT TO  
AMENDED AND RESTATED SYNDICATED FACILITY AGREEMENT
THIS FIRST AMENDMENT TO AMENDED AND RESTATED SYNDICATED FACILITY AGREEMENT (this “First Amendment”), dated as of October 26, 2018, is among CIVEO CORPORATION, a corporation incorporated under the laws of the Province of British Columbia (the “Parent Borrower”), CIVEO MANAGEMENT LLC, a Delaware limited liability company (the “U.S. Borrower”), CIVEO CANADA LIMITED PARTNERSHIP, a limited partnership organized under the laws of the Province of Alberta (the “New Canadian Borrower”), CIVEO PTY LIMITED ACN 003 657 510, an Australian proprietary limited company (the “Australian Borrower” and, together with the Parent Borrower, U.S. Borrower and the New Canadian Borrower, the “Borrowers”), certain subsidiary guarantors of the Borrowers party hereto, the Lenders party hereto (the “Lenders”), the Issuing Banks, the Swing Line Lenders, ROYAL BANK OF CANADA, as administrative agent for the U.S. Lenders, as U.S. collateral agent for the Lenders, as administrative agent for the Canadian Lenders and as Canadian collateral agent for the Lenders, and RBC EUROPE LIMITED, as administrative agent for the Australian Lenders and as Australian collateral agent for the Lenders.
R E C I T A L S
A.    The Borrowers, the Agents and the Lenders are parties to that certain Amended and Restated Syndicated Facility Agreement, dated as of April 2, 2018 (the “Credit Agreement” and, as amended by this First Amendment, the “Amended Credit Agreement”), pursuant to which the Lenders have made certain loans to and other extensions of credit on behalf of the Borrowers.
B.    The Borrowers, the Agents, the Issuing Banks, the Swing Line Lenders and the Lenders desire to amend certain provisions of the Credit Agreement.
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Section 1.Defined Terms.  Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Amended Credit Agreement.  Unless otherwise indicated, all article and section references in this First Amendment refer to articles and sections of the Amended Credit Agreement.
Section 2.Amendments to Credit Agreement.  Effective as of the First Amendment Effective Date, the Credit Agreement is hereby amended as follows: 
(a)    Section 1.01 of the Credit Agreement is amended by adding the following definitions where alphabetically appropriate: 

“First Amendment” shall mean that certain First Amendment to Amended and Restated Syndicated Facility Agreement, dated as of October 26, 2018, among the Borrowers, the Administrative Agents and the Lenders party thereto.

“First Amendment Effective Date” shall have the meaning set forth in the First Amendment.

(b)    Section 4.01 of the Credit Agreement is amended by 
(1)        adding the following new subsection (e):

(e)    After giving pro forma effect to such Credit Event, the Parent Borrower is in compliance with the financial covenants described in Section 6.11 as of the most recently ended four (4) quarter period for which financial statements are required to be delivered under Section 5.04 as if such Credit Event had occurred on the last day of such period.
(2)        replacing “(b), (c) and (d)” in the last paragraph thereof with “(b), (c), (d) and (e)”.
(c)    Section 6.11(a) of the Credit Agreement is amended in its entirety as follows: 
(a)    Maximum Total Leverage Ratio.  Commencing with the four fiscal quarter period ending March 31, 2018, permit the Total Leverage Ratio for any period of four consecutive fiscal quarters of the Parent Borrower, in each case taken as one accounting period, as of the last day of any fiscal quarter, to be greater than (A) if a Qualified Offering has not been consummated:
	
		
	Fiscal Quarter Ending
	Total Leverage Ratio

	March 31, 2018 and June 30, 2018
	4.50:1.00

	September 30, 2018
	4.25:1.00

	December 31, 2018
	4.50:1.00

	March 31, 2019
	4.75:1.00

	June 30, 2019
	4.50:1.00

	September 30, 2019
	4.00:1.00

	December 31, 2019 and thereafter
	3.50:1.00

 
    and (B) if a Qualified Offering has been consummated, 
	
		
	Fiscal Quarter Ending
	Total Leverage Ratio

	September 30, 2018
	4.25:1.00

	December 31, 2018
	4.50:1.00

	March 31, 2019
	4.75:1.00

	June 30, 2019
	4.50:1.00

	September 30, 2019 and thereafter
	4.00:1.00

(d)    Schedule 2.04 to the Credit Agreement is amended and replaced in its entirety with Annex I attached hereto.
Section 3.Consent Fees. The Borrowers agree to pay to the Administrative Agent for the account of each Lender that (a) notifies the Administrative Agent (or its counsel) that it has consented to this First Amendment and (b) delivers evidence satisfactory to the Administrative Agent that it has obtained all credit and other internal approvals necessary to enter into this First Amendment, in each case at or prior to 5:00 p.m., New York City time, on October 25, 2018, a consent fee (the “Consent Fees”) in an amount equal to 0.20% of the aggregate principal amount of the outstanding Canadian Term Loans, the U.S. Revolving Commitment, the Canadian Revolving Commitment and the Australian Revolving Commitment of such Lender as of the First Amendment Effective Date.  Consent Fees shall be payable (i) in U.S. dollars for the U.S. Revolving Commitment, (ii) in U.S. Dollar Equivalent for the Australian Revolving Commitment and the Canadian Revolving Commitment and (iii) in Canadian dollars for the Canadian Term Loans.

2

Section 4.Conditions Precedent.  This First Amendment shall not be deemed to be effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.08 of the Credit Agreement) (the “First Amendment Effective Date”):
(a)    The Administrative Agent shall have received from the Required Lenders, the Borrowers and the Guarantors, counterparts (in such number as may be requested by the Administrative Agent) of this First Amendment signed on behalf of such Persons.
(b)    The Administrative Agents and the Lead Arranger shall have received all Fees and other amounts due and payable on or prior to the First Amendment Effective Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses (including, without limitation, the reasonable fees, charges and disbursements of counsel for the Agents) required to be reimbursed or paid by the Borrowers hereunder, under the Credit Agreement or under any other Loan Document.
(c)    The representations and warranties set forth in Article III of the Amended Credit Agreement and in each other Loan Document shall be true and correct in all material respects (provided that to the extent any representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty is true and correct in all respects) on and as of the First Amendment Effective Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representation and warranty is true and correct in all material respects (provided that to the extent any such representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty is true and correct in all respects) as of such earlier date.
(d)    No Default or Event of Default shall have occurred and be continuing, after giving effect to the terms of this First Amendment.
Section 5.Representations and Warranties.  As of the date hereof, each Borrower hereby represents and warrants to the Administrative Agent and each of the Lenders as follows:
(a)    The representations and warranties set forth in Article III of the Credit Agreement and in each other Loan Document are true and correct in all material respects (provided that to the extent any representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty is true and correct in all respects) on and as of the date hereof with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representation and warranty is true and correct in all material respects (provided that to the extent any such representation and warranty is qualified as to “Material Adverse Effect” or otherwise as to “materiality”, such representation and warranty is true and correct in all respects) as of such earlier date.
(b)    No Default or Event of Default has occurred and is continuing.
Section 6.Miscellaneous.
(a)    Confirmation.  The provisions of the Credit Agreement, as amended by this First Amendment, are hereby ratified and confirmed by the Borrowers and shall remain in full force and effect following the effectiveness of this First Amendment.  The amendments contained herein shall not be construed as a waiver or amendment of any other provision of the Credit Agreement or the other Loan Documents or for any purpose except as expressly set forth herein or a consent to any further or future action on the part of the Borrowers or the other Loan Parties that would require the waiver or consent of the Administrative Agents or the Lenders.

3

(b)    Ratification and Affirmation.  Each of the Borrowers and Guarantors hereby (a) acknowledges the terms of this First Amendment and (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended or modified hereby.
(c)    Loan Document.  This First Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Amended Credit Agreement relating to Loan Documents shall apply hereto.
(d)    Counterparts.  This First Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of this First Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart hereof.
(e)    NO ORAL AGREEMENT.  THIS FIRST AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.
(f)    GOVERNING LAW.  THIS FIRST AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
Section 7.Not Fiduciary Relationship.  The Loan Parties acknowledge that none of the Agents, the Issuing Banks, the Swing Line Lenders, the Lenders or their respective Affiliates is acting as a fiduciary for or advisor to the Loan Parties.

[SIGNATURES BEGIN NEXT PAGE]

4

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed as of the date first written above.

BORROWERS:
CIVEO CORPORATION

By:  /s/ Frank C. Steininger_______________ 
Name:     Frank C. Steininger 
Title:       Executive Vice President, Chief Financial Officer and Treasurer

CIVEO CANADA LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson_________________ 
Name: Bradley J. Dodson 
Title: Director and President

CIVEO MANAGEMENT LLC

By:  /s/ Frank C. Steininger________________ 
Name:     Frank C. Steininger 
Title:    Executive Vice President, Chief Financial Officer and Treasurer 
 
 
CIVEO PTY LIMITED

/s/ Frank C. Steininger____________________ 
Signature of Director  

Frank C. Steininger                 
Name of Director

/s/ Bradley J. Dodson______________________ 
Signature of Director/Company Secretary  

Bradley J. Dodson                 
Name of Director/Company Secretary

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

GUARANTORS:
CIVEO OFFSHORE LLC

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Senior Vice President and Treasurer

CIVEO USA LLC

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Senior Vice President and Treasurer

CIVEO USA MANUFACTURING LLC

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Senior Vice President and Treasurer

CIVEO WATER AND WASTE WATER USA, LLC

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Senior Vice President and Treasurer

CIVEO GP HOLDINGS CORPORATION

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

CIVEO CANADA OPERATIONS GP LTD., on behalf of and in its capacity as general partner of CIVEO CANADA LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson______________
Name: Bradley J. Dodson 
Title: Director 

CIVEO CANADA OPERATIONS GP LTD.

By:  /s/ Bradley J. Dodson______________
Name: Bradley J. Dodson 
Title: Director 

CIVEO LODGE GP LTD.

By:  /s/ Bradley J. Dodson______________
Name: Bradley J. Dodson 
Title: Director 

CIVEO CANADA HOLDCO3 LTD.

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

CIVEO LODGE GP LTD., on behalf of and in its capacity as general partner of CIVEO LODGE EMPLOYEES LIMITED PARTNERSHIP

By: /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Director

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

STRUCTURES GP LTD.

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

WATER CANADA GP LTD.

By:  /s/ Bradley J. Dodson______________
Name: Bradley J. Dodson 
Title: Director and President

PACIFIC CATERING GP LTD.

By:  /s/ Bradley J. Dodson______________
Name: Bradley J. Dodson 
Title: Director and President

CANADA GP LTD.

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

CIVEO PREMIUM SERVICES GP LTD.

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

NORTHERN METIS CATERING GP LTD.

By:  /s/ Bradley J. Dodson______________
Name: Bradley J. Dodson 
Title: Director and President

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

BUFFALO METIS CATERING GP LTD.

By:  /s/ Bradley J. Dodson_____________
Name: Bradley J. Dodson 
Title: Director and President

INSTALLATIONS GP LTD.

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

CROWN SERVICES GP LTD.

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

FORT MCMURRAY LODGE SERVICES GP LTD.

By:  /s/ Bradley J. Dodson_____________
Name: Bradley J. Dodson 
Title: Director and President

STRUCTURES GP LTD., on behalf of and in its capacity as general partner of CIVEO STRUCTURES EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Director

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

WATER CANADA GP LTD, on behalf of and in its capacity as general partner of CIVEO WATER CANADA EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson_____________
Name: Bradley J. Dodson 
Title: Director and President

PACIFIC CATERING GP LTD, on behalf of and in its capacity as general partner of CIVEO PACIFIC CATERING EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson_____________
Name: Bradley J. Dodson 
Title: Director and President

CIVEO PREMIUM SERVICES GP LTD, on behalf of and in its capacity as general partner of CIVEO PREMIUM SERVICES EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

INSTALLATIONS GP LTD, on behalf of and in its capacity as general partner of CIVEO INSTALLATIONS EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

CROWN SERVICES GP LTD, on behalf of and in its capacity as general partner of CIVEO CROWN SERVICES EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

CANADA GP LTD., on behalf of and in its capacity as general partner of CIVEO CANADA EMPLOYEES LIMITED PARTNERSHIP

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Vice President and Director

FORT MCMURRAY LODGE SERVICES GP LTD., on behalf of and in its capacity as general partner of FORT MCMURRAY LODGE SERVICES LIMITED PARTNERSHIP

By:  /s/ Bradley J. Dodson_____________
Name: Bradley J. Dodson 
Title: Director and President

CIVEO PROPERTY PTY LTD.

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Director

By:  /s/ Bradley J. Dodson_____________
Name: Bradley J. Dodson 
Title: Director 

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

CIVEO LINEN PTY LTD.

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Director

By:  /s/ Bradley J. Dodson_____________
Name: Bradley J. Dodson 
Title: Director

CIVEO HOLDING COMPANY 2 PTY LTD.

By:  /s/ Frank C. Steininger_____________
Name: Frank C. Steininger 
Title: Director

By:  /s/ Bradley J. Dodson_____________
Name: Bradley J. Dodson 
Title: Director 

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

ROYAL BANK OF CANADA,  
as Administrative Agent, U.S. Collateral Agent, Canadian Administrative Agent and Canadian Collateral Agent
    
By:  /s/ Helena Sadowski__________________ 
Name: Helena Sadowski 
Title: Manager, Agency

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

RBC EUROPE LIMITED,  
as Australian Administrative Agent, Australian Collateral Agent and an Issuing Lender
    
By:  /s/ Simon Hilton______________________ 
Name: Simon Hilton 
Title: Authorised Signatory

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

ROYAL BANK OF CANADA, as a U.S. Lender, the U.S. Swing Line Lender and an Issuing Bank
    
By:  /s/ Jay T. Sartain______________________ 
Name: Jay T. Sartain 
Title: Authorized Signatory

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

ROYAL BANK OF CANADA, as a Canadian Lender, the Canadian Swing Line Lender and an Issuing Bank

By:  /s/ Bryn Davies_______________________ 
Name: Bryn Davies 
Title: Authorized Signatory

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

ROYAL BANK OF CANADA, as an Australian Lender and an Issuing Bank

By:  /s/ Marcus Rayment_ __________________ 
Name: Marcus Rayment 
Title: Director, Corporate Banking

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

THE BANK OF NOVA SCOTIA, as a Canadian Lender and an Issuing Bank

By:  /s/ Scott Nickel    
		
	Name: Scott Nickel
	 

		
	Title: Director
	 

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

BNS ASIA LIMITED, as an Australian Lender 

By:  /s/ Mark Levia    
Name: Mark Levia    
Title: Director, Head of Execution & Head of BNSAL    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

HSBC BANK CANADA, as a Canadian Lender

By:  /s/ Ryan Smith    
Name: Ryan Smith    
Title: Assistant Vice President, Energy Financing    

By:  /s/ Bruce Robinson    
Name: Bruce Robinson    
Title: Vice President, Energy Financing    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

For and on behalf of THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, SYDNEY BRANCH by its duly authorised attorney pursuant to a power of attorney in the presence of:

By:  /s/ Robert Agati    
Name: Robert Agati    
Title: Secretary    

By:  /s/ Albert Kin Cheung Leung    
Name: Albert Kin Cheung Leung    
Title: Asst. Company Secretary    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

THE TORONTO-DOMINION BANK, as a Canadian Lender and an Issuing Bank 

By:  /s/ Vanessa Cheung    
Name: Vanessa Cheung    
Title: Director, Commercial National Accounts    

By:  /s/ Ian M. McGuire    
Name: Ian M. McGuire    
Title: Manager of Commercial Credit, National Accounts    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

TORONTO-DOMINION (TEXAS) LLC, as a U.S. Lender

By:  /s/ Pradeep Mehra    
Name: Pradeep Mehra    
Title: Authorized Signatory    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

NATIONAL BANK OF CANADA, as a Canadian Lender and an Australian Lender 

By:  /s/ Jason Anderson    
Name: Jason Anderson    
Title: Director, Energy Services    

By:  /s/ Darrell Stelmack    
Name: Darrell Stelmack    
Title: Director, Energy Services    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

ATB FINANCIAL, as Canadian Lender

By:  /s/ Neil Ternovatsky    
Name: Neil Ternovatsky    
Title: Director    

By:  /s/ Jeffrey Lam    
Name: Jeffrey Lam    
Title: Porfolio Manager    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

WELLS FARGO BANK N.A., CANADIAN BRANCH, as Canadian Lender

By:  /s/ Lindy Couillard    
Name: Lindy Couillard    
Title: Director, Wells Fargo Corporate Banking    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

WELLS FARGO BANK, NATIONAL ASSOCIATION, as an Australian Lender

By:  /s/ Kevin M. Davidson    
Name: Kevin M. Davidson    
Title: Director    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

SUMITOMO MITSUI BANKING CORPORATION, as a U.S. Lender

By:  /s/ Toshitake Funaki    
Name: Toshitake Funaki    
Title: Managing Director    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

SUMITOMO MITSUI BANKING CORPORATION, CANADA BRANCH, as a Canadian Lender 

By:  /s/ Alfred Lee    
Name: Alfred Lee    
Title: Managing Director    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

CANADIAN WESTERN BANK, as a Canadian Lender

By:  /s/Kuno Ryckborst    
Name: Kuno Ryckborst    
Title: Senior Manager, Energy & Corporate Banking    

By:  /s/ Dean Proctor    
Name: Dean Proctor    
Title: Vice President and Branch Manager    

Signature Page to First Amendment to Amended and Restated Syndicated Facility Agreement

ANNEX I

SCHEDULE 2.04
Amortization

Canadian Term Loans

	
		
	Date
	Amount

	June 30, 2018
	C$9,203,085.94

	September 30, 2018
	C$9,203,085.94

	December 31, 2018
	C$11,503,857.42

	March 31, 2019
	C$11,503,857.42

	June 30, 2019
	C$11,503,857.42

	September 30, 2019
	C$11,503,857.42

	December 31, 2019
	C$11,503,857.42

	March 31, 2020
	C$11,503,857.42

	June 30, 2020
	C$11,503,857.42

	September 30, 2020
	C$11,503,857.42

	Maturity Date
	Remaining Balance

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