Document:

EX-4.3

 Exhibit 4.3 
  

 
  

AMERICAN INTERNATIONAL GROUP, INC. 
  

 
 Twenty-Eighth
Supplemental 
 Indenture 

Dated as of July 10, 2015  
  

 
 (Supplemental to
Indenture Dated as of October 12, 2006)  
  

 
 THE BANK OF NEW
YORK MELLON, 
 as Trustee 
  

 
  

 TWENTY-EIGHTH SUPPLEMENTAL INDENTURE, dated as of July 10, 2015 (the “Twenty-Eighth
Supplemental Indenture”), between American International Group, Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”), and The Bank of New York Mellon, a New York banking
corporation, as Trustee (herein called “Trustee”); 
 R E C I T A L S: 

WHEREAS, the Company has heretofore executed and delivered to The Bank of New York Mellon, as trustee, an Indenture, dated as of
October 12, 2006 (the “Base Indenture”), as supplemented by the Fourth Supplemental Indenture, dated as of April 18, 2007 (the “Fourth Supplemental Indenture”), and the Eighth Supplemental Indenture, dated as of
December 3, 2010 (the “Eighth Supplemental Indenture”, and, together with the Base Indenture and the Fourth Supplemental Indenture, the “Existing Indenture”), providing for the issuance from time to time of the
Company’s unsecured debentures, notes or other evidences of indebtedness (herein and therein called the “Securities”), to be issued in one or more series; and the Existing Indenture, as may be amended or supplemented from time to
time, including by this Twenty-Eighth Supplemental Indenture, is hereinafter referred to as the “Indenture”; 
 WHEREAS,
Section 901 of the Existing Indenture permits the Company and the Trustee to enter into an indenture supplemental to the Existing Indenture to establish the form and terms of additional series of Securities; 

WHEREAS, Sections 201, 301 and 901 of the Existing Indenture permit the form and the terms of Securities of any additional series of
Securities to be established pursuant to an indenture supplemental to the Existing Indenture; 
 WHEREAS, the Company has authorized the
issuance of $750,000,000 in aggregate principal amount of its 4.800% Notes due 2045 (the “Notes”); 
 WHEREAS, the Notes will be
established as a series of Securities under the Indenture; 
 WHEREAS, pursuant to resolutions of (i) the Board of Directors of the
Company adopted at a meeting duly called on September 14, 2010, approving certain additional covenants made by the Company, and (ii) the Risk and Capital Committee of the Board of Directors of the Company adopted at a meeting duly called
on March 10, 2015, the Company has duly authorized the execution and delivery of this Twenty-Eighth Supplemental Indenture to establish the form and terms of the Notes; and 

WHEREAS, all things necessary to make this Twenty-Eighth Supplemental Indenture a valid and legally binding agreement according to its terms
have been done; 

 NOW, THEREFORE, THIS TWENTY-EIGHTH SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, it is mutually covenanted and agreed, for the
equal and proportionate benefit of all Holders of the Notes, as follows: 
 ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS 

OF GENERAL APPLICATION 
  

	Section 1.1	Relation to Existing Indenture 

 This Twenty-Eighth Supplemental Indenture
constitutes a part of the Indenture (the provisions of which, as modified by this Twenty-Eighth Supplemental Indenture, shall apply to the Notes) in respect of the Notes, and shall not modify, amend or otherwise affect the Existing Indenture insofar
as it relates to any other series of Securities or affect in any manner the terms and conditions of the Securities of any other series. 
  

	Section 1.2	Definitions 

 For all purposes of this Twenty-Eighth Supplemental Indenture, the
capitalized terms used herein (i) which are defined in the recitals or introductory paragraph hereof have the respective meanings assigned thereto in the applicable provision of the recitals and introductory paragraph, and (ii) which are
defined in the Existing Indenture (and which are not defined in the recitals or introductory paragraph hereof) have the respective meanings assigned thereto in the Existing Indenture. For all purposes of this
Twenty-Eighth Supplemental Indenture: 
 All references herein to Articles and Sections, unless
otherwise specified, refer to the corresponding Articles and Sections of this Twenty-Eighth Supplemental Indenture; and 
 The terms
“herein”, “hereof”, and “hereunder” and words of similar import refer to this Twenty-Eighth Supplemental Indenture. 

ARTICLE TWO 
 GENERAL
TERMS AND CONDITIONS OF THE NOTES 
  

	Section 2.1	Forms of Notes Generally 

 The Notes shall be in substantially the forms set forth
in this Article with such appropriate insertions, omissions, substitutions and other variations as are required or 

  
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permitted by the Existing Indenture and this Twenty-Eighth Supplemental Indenture and may have such letters, numbers or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with the rules of any securities exchange or Depositary thereto, or as may, consistent with the Existing Indenture and this Twenty-Eighth Supplemental Indenture, be determined by the officers executing such
Notes, as evidenced by their execution of such Notes. 
 The Notes shall be issued initially in the form of the Global Notes, registered in
the name of the Depositary or its nominee and deposited with the Trustee, as custodian for the Depositary, for credit by the Depositary to the respective accounts of beneficial owners of the Notes represented thereby (or such other accounts as they
may direct). Each such Global Note will constitute a single Security for all purposes of the Indenture. 
  

	Section 2.2	Form of Notes 

 The Notes shall be in substantially the form of Annex A to this
Twenty-Eighth Supplemental Indenture. 
  

	Section 2.3	Form of Trustee’s Certificate of Authentication of the Notes 

 The
Trustee’s certificates of authentication shall be in substantially the following form: 
 This is one of the Notes of the series
designated therein referred to in the within-mentioned Indenture. 
 Dated: 

 

			
	THE BANK OF NEW YORK MELLON
	As Trustee
		
	By:		  

			Authorized Signatory

  

	Section 2.4	Title and Terms 

 Pursuant to Sections 201 and 301 of the Indenture, there is
hereby established a series of Securities, the terms of which shall be as follows: 
 (a) Designation. The Notes shall be
known and designated as the “4.800% Notes due 2045.” 
 (b) Aggregate Principal Amount. The aggregate principal
amount of the Notes that may be authenticated and delivered under this Twenty-Eighth Supplemental Indenture is initially limited to $750,000,000, except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or
in lieu of, other Notes 

  
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issued pursuant to Section 304, 305, 306, 906, 1107 or 1203 of the Existing Indenture. The Company may, without the consent of the Holders of the Notes, issue additional notes of this series
in an unlimited amount having the same ranking, interest rate, Stated Maturity, CUSIP and ISIN numbers and terms as to status, redemption or otherwise as the Notes (other than dates as to issuance and the initial accrual of interest), in which event
such notes and the Notes shall constitute one series for all purposes under the Indenture, including without limitation, amendments, waivers and redemptions. 

(c) Interest and Maturity. The Stated Maturity of the Notes shall be July 10, 2045 and the Notes shall bear interest and
have such other terms as are described in the form of Note attached as Annex A to this Twenty-Eighth Supplemental Indenture. 

(d) Redemption. The Company shall have no obligation to redeem or purchase the Notes pursuant to any sinking fund or analogous
provision, or at the option of a Holder thereof. The Notes shall be redeemable at the election of the Company from time to time, in whole or in part, at the times and at the prices specified in the form of Note attached as Annex A to this
Twenty-Eighth Supplemental Indenture. Notice of redemption shall be transmitted not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Notes to be redeemed at his address appearing in the Security Register.

 (e) Defeasance. The Notes shall be subject to the defeasance and discharge provisions of Section 1302 of the
Existing Indenture and the defeasance of certain obligations and certain events of default provisions of Section 1303 of the Existing Indenture. 

(f) Denominations. The Notes shall be issuable only in fully registered form without coupons and only in denominations of $2,000
and multiples of $1,000 in excess thereof. 
 (g) Authentication and Delivery. The Notes shall be executed,
authenticated, delivered and dated in accordance with Section 303 of the Existing Indenture. 
 (h) Additional
Covenant and Amendment to the Base Indenture. The additional covenant of the Company and amendment to the Base Indenture, each as set forth in Article III of the Eighth Supplemental Indenture, shall apply to the Notes. 

(i) Depositary. With respect to Notes issuable or issued in whole or in part in the form of one or more Global Notes, the Depositary
shall be The Depository Trust Company, for so long as it shall be a clearing agency registered under the Exchange Act, or such successor (which shall be a clearing agency registered under the Exchange Act) as the Company shall designate from time to
time in an Officers’ Certificate delivered to the Trustee. 

  
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	Section 2.5	Exchanges of Global Note for Non-Global Note 

 Notwithstanding any other provision
in this Indenture, no Global Note may be exchanged in whole or in part for Notes registered, and no transfer of a Global Note in whole or in part may be registered, in the name of any Person other than the Depositary for such Global Note or a
nominee thereof unless (A) such Depositary has notified the Company that it is unwilling or unable or no longer permitted under applicable law to continue as Depositary for such Global Note and the Company does not appoint another institution
to act as Depositary within 90 days, (B) there shall have occurred and be continuing an Event of Default with respect to such Global Note, or (C) the Company so directs the Trustee by a Company Order. 

ARTICLE THREE 

MISCELLANEOUS 
  

	Section 3.1	Relationship to Existing Indenture 

 This Twenty-Eighth Supplemental Indenture is
a supplemental indenture within the meaning of the Existing Indenture. The Existing Indenture, as supplemented and amended by this Twenty-Eighth Supplemental Indenture, is in all respects ratified, confirmed and approved and, with respect to the
Notes, the Existing Indenture, as supplemented and amended by this Twenty-Eighth Supplemental Indenture, shall be read, taken and construed as one and the same instrument. 
  

	Section 3.2	Modification of the Existing Indenture 

 Except as expressly modified by this
Twenty-Eighth Supplemental Indenture, the provisions of the Existing Indenture shall govern the terms and conditions of the Notes. 
  

	Section 3.3	Governing Law 

 This instrument shall be governed by and construed in accordance
with the laws of the State of New York. 
  

	Section 3.4	Counterparts 

 This instrument may be executed in any number of counterparts, each
of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
  

	Section 3.5	Trustee Makes No Representation 

 The recitals contained herein are made by the
Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes 

  
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no representation as to the validity or sufficiency of this Twenty-Eighth Supplemental Indenture other than its certificates of authentication. 

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

					
	AMERICAN INTERNATIONAL GROUP, INC.
		
	By:		 /s/ Monika M. Machon

			Name:		Monika M. Machon
			Title:		Senior Vice President and Treasurer

  

	
	Attest:
	
	 /s/ Christopher B. Chorengel

  

					
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:		 /s/ Thomas Hacker

			Name:		Thomas Hacker
			Title:		Vice President

 [Signature Page to Twenty-Eighth Supplemental Indenture] 

 ANNEX A 

FORM OF THE NOTES 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE OF A DEPOSITARY. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE 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 CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (“DTC”), A NEW YORK CORPORATION, TO AMERICAN INTERNATIONAL GROUP, INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CEDE & CO. (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 AN INTEREST HEREIN. 

  
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 AMERICAN INTERNATIONAL GROUP, INC. 

4.800% NOTES DUE 2045 
  

			
	No. [●]		
	CUSIP No.: 026874DF1		$[●]

 AMERICAN INTERNATIONAL GROUP, INC., a corporation duly organized and existing under the laws of Delaware
(herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or its registered assigns, the principal sum of
[●] Dollars ($[●]) on July 10, 2045, and to pay interest thereon from July 10, 2015, or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, semiannually in arrears
on each January 10 and July 10 (each such date, an “Interest Payment Date”), commencing on January 10, 2016, at the rate of 4.800% per annum, until the principal hereof is paid or made available for payment. The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business
on the Regular Record Date for such interest, which shall be January 1 or July 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for
will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on a Special Record Date for the
payment of such Defaulted Interest to be fixed by the Trustee, notice whereof which shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. 
 In the event that an Interest Payment Date is not a Business Day, the Company shall pay
interest on the next succeeding Business Day, with the same force and effect as if made on the Interest Payment Date, and without any interest or other payment with respect to the delay. If the Stated Maturity or earlier Redemption Date falls on a
day that is not a Business Day, the payment of principal, premium, if any, and interest need not be made on such date, but may be made on the next succeeding Business Day, with the same force and effect as if made on the Stated Maturity or earlier
Redemption Date, provided that no interest shall accrue for the period from and after such Stated Maturity or earlier Redemption Date. 

  
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 Payment of the principal of and premium, if any, and interest on this Note will be made at the
office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, which shall initially be the Corporate Trust Office, in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. 
 Reference is hereby made to the further provisions of this Note set forth on the
reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
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 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: 
  

					
	AMERICAN INTERNATIONAL GROUP, INC.
		
	By:		  

			Name:		Monika M. Machon
			Title:		Senior Vice President and Treasurer

  

	
	Attest:
	
	  

  
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 This is one of the Notes of the series designated therein referred to in the within-mentioned
Indenture. 
 Dated: 
  

			
	THE BANK OF NEW YORK MELLON
	As Trustee
		
	By:		  

			Authorized Signatory

  
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 [Reverse of the Notes] 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), designated as its 4.800% Notes
due 2045, issued and to be issued in one or more series under an Indenture, dated as of October 12, 2006, as supplemented by the Fourth Supplemental Indenture, dated as of April 18, 2007, the Eighth Supplemental Indenture, dated as of
December 3, 2010, and the Twenty-Eighth Supplemental Indenture, dated as of July 10, 2015 (as so supplemented, the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Company and The
Bank of New York Mellon, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series
designated on the face hereof. 
 The Notes of this series are subject to redemption at any time, in whole or in part, at the election of
the Company, upon not less than 30 nor more than 60 days’ notice given as provided in the Indenture, at a Redemption Price equal to (A) in the case of a Redemption Date prior to January 10, 2045, the greater of (i) 100% of the
principal amount, together with accrued and unpaid interest to, but excluding, the Redemption Date, and (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest
thereon (not including any portion of such payments of interest accrued as of 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 Adjusted Treasury Rate
plus 30 basis points, plus accrued and unpaid interest to, but excluding, the Redemption Date; or (B) in the case of a Redemption Date on or after January 10, 2045, 100% of the principal amount, together with accrued and unpaid interest
to, but excluding, the Redemption Date. 
 The definitions of certain terms used in the paragraph above are listed below. 

“Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such Redemption Date. 
 “Comparable Treasury Issue” means the U.S. Treasury security selected by the Quotation
Agent as having a maturity comparable to the remaining term of the Notes that would be utilized, at the time of selection and in accordance with customary 

  
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financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 

“Comparable Treasury Price” means, with respect to any Redemption Date, the average of the Reference Treasury Dealer Quotations for
such Redemption Date. 
 “Quotation Agent” means AIG Markets, Inc. or any other firm appointed by the Company, acting as quotation
agent for the Notes. Any successor or substitute Quotation Agent may be an Affiliate of the Company. 
 “Reference Treasury
Dealer” means (i) each of (a) a Primary Treasury Dealer (as defined below) selected by U.S. Bancorp Investments, Inc. and (b) BNP Paribas Securities Corp. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, or the
respective successor of any of the foregoing; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States (a “Primary Treasury Dealer”), the Company shall
substitute therefor another Person that is a Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Quotation Agent after consultation with the Company. 

“Reference Treasury Dealer Quotations” means with respect to each Reference Treasury Dealer and any Redemption Date, the average, as
determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer at 3:30 p.m.
on the third Business Day preceding such Redemption Date. 
 In the event of redemption of the Notes in part only, a new Note or Notes of
this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

The Notes of this series do not have the benefit of any sinking fund obligation and are not subject to repurchase at the option of the
Holders. 
 The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note or certain restrictive
covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be
declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as
therein provided, the amendment thereof and the modification of the rights and obligations of the Company 

  
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and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in
principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time
Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. 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 Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of
such consent or waiver is made upon this Note. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Note
shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a
continuing Event of Default with respect to the Notes of this series, the Holders of not less than 25% in principal amount of the Notes of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in
respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes of this series at the time Outstanding a direction
inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the
enforcement of any payment of principal hereof or premium, if any, or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Note 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, or interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and premium, if any, or interest on this Note are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

  
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 The Notes of this series are issuable only in fully registered form without coupons in
denominations of $2,000 and any multiple of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Notes of this series are exchangeable for a like aggregate principal amount of Notes of this
series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge
shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Note which are defined in the Indenture shall have the meaning assigned to them in the Indenture. 

  
 -15-EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 2 TO AMENDED AND RESTATED 

CREDIT AGREEMENT 
 THIS
AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), as of July 9, 2015, (“Effective Date”) is made by and among WORLD OF JEANS & TOPS, a California corporation
(“Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”). 
 RECITALS 

A. Bank and Borrower entered into that certain Amended and Restated Credit Agreement dated as of May 3, 2012 (as amended, amended and
restated, or otherwise modified from time to time to the date hereof, the “Agreement”), pursuant to which Bank agreed to extend credit to Borrower on the terms and conditions set forth in such Agreement. 

B. Borrower also executed a certain Revolving Line of Credit Note (as amended, amended and restated, or otherwise modified from time to time
to the date hereof, the “Note”) dated as of May 3, 2012, in favor of Bank in an initial principal amount of $25,000,000. 

C. Borrower has requested that the Agreement be amended to provide for certain changes to Section 6.1(j) of the Agreement as set forth
herein, and the Bank is willing to amend the Agreement on the terms and subject to the conditions set forth herein. 
 D. Borrower and Bank
now desire to execute this Amendment to set forth their agreements with respect to the modifications to the Agreement. 
 Accordingly, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of Bank and Borrower hereby agrees as follows: 

SECTION 1. Definitions. Capitalized terms used in this Amendment and not defined herein are defined in the Agreement. 

SECTION 2. Amendments to Agreement. The Agreement is hereby amended as follows: 

A. Events of Default. Section 6.1(j) of the Agreement is hereby amended and restated in its entirety as follows:

 “(j) Tilly’s, Inc. shall cease to own and control 100% of the issued and outstanding capital stock of the Borrower, or, as to
Tilly’s, Inc., (i) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934) other than Hezy Shaked and Tialit Levine (and their respective heirs and executors,
and trusts as to which they are settlors or trustees or other trusts to which such trusts are settlors) shall become the “beneficial owner” (as defined in Rules 13-d and 13d-5 under the Securities Exchange Act of 1934), directly or
indirectly, of 35% or more of the equity interests of Tilly’s, Inc. entitled to vote for members of the board of directors of Tilly’s, Inc. on a fully-

 
diluted basis or (ii) during any period of 12 consecutive months, a majority of the members of the board of directors of Tilly’s, Inc. cease to be composed of individuals who either
were members of such board on the first day of such period or whose election or nomination to such board was approved by individuals who at the time of such election or nomination constituted at least a majority of such board.” 

SECTION 3. Representations and Warranties of Borrowers. Borrower represents and warrants to Bank that: 

(a) It has the power and authority to enter into and to perform this Amendment, to execute and deliver all documents relating
to this Amendment, and to incur the obligations provided for in this Amendment, all of which have been duly authorized and approved in accordance with Borrower’s organizational documents; 

(b) This Amendment, together with all documents executed pursuant hereto, shall constitute when executed the valid and legally
binding obligations of Borrower in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by
general equitable principles; 
 (c) All representations and warranties contained in the Agreement and the other Loan
Documents are true and correct with the same effect as though such representations and warranties had been made on and as of the Effective Date (except to the extent that such representations and warranties expressly relate solely to an earlier date
(in which case such representations and warranties are true and accurate on and as of such earlier date)); 
 (d)
Borrower’s obligations under the Loan Documents remain valid and enforceable obligations, and the execution and delivery of this Amendment and the other documents executed in connection herewith shall not be construed as a novation of the
Agreement or any of the other Loan Documents; 
 (e) As of the Effective Date, to Borrower’s knowledge, it has no
offsets or defenses against the payment of any of the obligations under the Loan Documents; 
 (f) No law, regulation, order,
judgment or decree of any Governmental Authority exists, and no action, suit, investigation, litigation or proceeding is pending or threatened in any court or before any arbitrator or Governmental Authority, which (i) purports to enjoin,
prohibit, restrain or otherwise affect (A) the making of the financings hereunder or (B) the consummation of the transactions contemplated pursuant to the terms of this Amendment, the Agreement, the Note, or the other Loan Documents or
(ii) has or would reasonably be expected to have a material adverse effect on the Borrower; and 
 (g) No Default or
Event of Default exists or has occurred and is continuing on and as of the Effective Date and after giving effect hereto. 

  
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 SECTION 4. Miscellaneous. 

A. Reference to Agreement. Upon the effectiveness of this Amendment, each reference in the Agreement to “this Agreement” and
each reference in the other Loan Documents to the Agreement, shall mean and be a reference to the Agreement as amended hereby. 
 B. No
Waiver. The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Bank under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 

C. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of California. 

D. Counterparts; Electronic Signatures. This Amendment may be executed in any number of counterparts and by different parties to this
Amendment on separate counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same agreement. Any signature delivered by a party by facsimile or other electronic
transmission shall be deemed to be an original signature to this Amendment. 
 E. Entire Agreement. This Amendment and the Note
constitute the entire agreement among the parties with respect to the subject matter hereof, and supersedes all prior agreements, written or oral, concerning said subject matter. 

[SIGNATURE PAGES FOLLOW] 

  
 -3- 

 IN WITNESS WHEREOF, Borrower and Bank have caused this Amendment to be signed by their duly
authorized representatives as of the day and year first above written. 
  

									
	WORLD OF JEANS & TOPS				WELLS FARGO BANK, NATIONAL ASSOCIATION
					
	By:		/s/ Mike Henry				By:		/s/ Mark Magdaleno
					
	Name:		Mike Henry				Name:		Mark Magdaleno
					
	Title:		Chief Financial Officer				Title:		Senior Vice President

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