Document:

Exhibit 10.2

 Exhibit 10.2 
 REGISTRATION RIGHTS AGREEMENT 
 This Registration
Rights Agreement (this “Agreement”) is made and entered into as of March 10, 2010, by and among Citizens South Banking Corporation, a Delaware corporation (the “Company”), and the several purchasers signatory
hereto (each a “Purchaser” and collectively, the “Purchasers”). 
 This Agreement is made
pursuant to the Securities Purchase Agreement, dated as of the date hereof between the Company and each Purchaser (the “Purchase Agreement”). 
 NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company
and each of the Purchasers agree as follows: 
 1. Definitions. Capitalized terms used and not otherwise defined herein
that are defined in the Purchase Agreement shall have the meanings given such terms in the Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings: 
 “Advice” shall have the meaning set forth in Section 6(d). 
 “Affiliate” means, with respect to any person, any other person which directly or indirectly controls, is controlled by, or
is under common control with, such person. 
 “Agreement” shall have the meaning set forth in the Preamble.

 “Business Day” means a day, other than a Saturday or Sunday, on which banks in New York City are open for
the general transaction of business. 
 “Closing” has the meaning set forth in the Purchase Agreement.

 “Closing Date” has the meaning set forth in the Purchase Agreement. 
 “Commission” means the Securities and Exchange Commission. 
 “Common Stock” means the common stock of the Company, $0.01 par value per share, and any securities into which such shares
of common stock may hereinafter be reclassified. 
 “Company” shall have the meaning set forth in the Preamble.

 “Contractual Securities” means collectively, (i) securities of the Company which are subject to an
Existing Contract and (ii) Registrable Securities. 
 “Contractual Securityholder” means all Persons that
hold Contractual Securities. 
 “Effective Date” means the date that the Registration Statement filed pursuant
to Section 2(a) is first declared effective by the Commission. 
 “Effectiveness
Deadline” means, with respect to the Initial Registration Statement or the New Registration Statement, the earlier of (i) the 90th calendar day following the Closing Date (or the 135th calendar day following the Closing Date in the
event that such registration statement is subject to review by the Commission) and (ii) the 5th Trading Day after the date the Company is notified (orally or

 
in writing, whichever is earlier) by the Commission that such Registration Statement will not be “reviewed” or will not be subject to further review; provided, that if the
Effectiveness Deadline falls on a Saturday, Sunday or other day that the Commission is closed for business, the Effectiveness Deadline shall be extended to the next Business Day on which the Commission is open for business. 
 “Effectiveness Period” shall have the meaning set forth in Section 2(b). 
 “Event” shall have the meaning set forth in Section 2(c). 
 “Event Date” shall have the meaning set forth in Section 2(c). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “Existing Contract” means that certain contract to which the Company is a party under which the Company may
be required to register securities issued to the U.S. Treasury Department on December 12, 2008 in connection with the TARP Capital Purchase Program. 
 “Filing Deadline” means, with respect to the Initial Registration Statement required to be filed pursuant to Section 2(a), the 60th calendar day following the Closing Date,
provided, that if the Filing Deadline falls on a Saturday, Sunday or other day that the Commission is closed for business, the Filing Deadline shall be extended to the next business day on which the Commission is open for business.

 “Holder” or “Holders” means the holder or holders, as the case may be, from time to time of
Registrable Securities. 
 “Indemnified Party” shall have the meaning set forth in Section 5(c).

 “Indemnifying Party” shall have the meaning set forth in Section 5(c). 
 “Initial Registration Statement” means the initial Registration Statement filed pursuant to Section 2(a) of this
Agreement. 
 “Liquidated Damages” shall have the meaning set forth in Section 2(c). 
 “Losses” shall have the meaning set forth in Section 5(a). 
 “New Registration Statement” shall have the meaning set forth in Section 2(a). 
 “Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture,
limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 
 “Principal Market” means the Trading Market on which the Common Stock is primarily listed on and quoted for trading, which, as of the Closing Date, shall be the NASDAQ Global Select Market. 
 “Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or
partial proceeding, such as a deposition), whether commenced or threatened. 
  

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 “Prospectus” means the prospectus included in a Registration Statement
(including, without limitation, a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the Prospectus, including
post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
 “Purchase Agreement” shall have the meaning set forth in the Recitals. 
 “Purchaser”
or “Purchasers” shall have the meaning set forth in the Preamble. 
 “Registrable Securities”
means all of the Shares and the Underlying Shares and any securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the Shares and the Underlying Shares, provided,
that the Holder has completed and delivered to the Company a Selling Stockholder Questionnaire; and provided, further, that Shares or Underlying Shares shall cease to be Registrable Securities upon the earliest to occur of the following:
(A) a sale pursuant to a Registration Statement or Rule 144 under the Securities Act (in which case, only such security sold shall cease to be a Registrable Security); (B) becoming eligible for sale without the requirement for the Company
to be in compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable) and without volume or manner of sale restrictions by Holders who are not Affiliates of the Company; (C) if such Shares or
Underlying Shares have ceased to be outstanding; or (D) if such Shares or Underlying Shares have been sold in a private transaction in which the Holder’s rights under this Agreement have not been assigned to the transferee. 
 “Registration Statements” means any one or more registration statements of the Company filed under the Securities Act that
covers the resale of any of the Registrable Securities pursuant to the provisions of this Agreement (including without limitation the Initial Registration Statement, the New Registration Statement and any Remainder Registration Statements),
amendments and supplements to such Registration Statements, including post-effective amendments, all exhibits and all material incorporated by reference or deemed to be incorporated by reference in such Registration Statements. 
 “Remainder Registration Statement” shall have the meaning set forth in Section 2(a). 
 “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Rule 415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having
substantially the same effect as such Rule. 
 “Rule 424” means Rule 424 promulgated by the Commission pursuant
to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “SEC Guidance” means (i) any publicly-available written or oral guidance, comments, requirements or requests of the
Commission staff and (ii) the Securities Act. 
 “Securities Act” means the Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder. 
  

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 “Selling Stockholder Questionnaire” means a questionnaire in the form
attached as Annex B hereto, or such other form of questionnaire as may reasonably be adopted by the Company from time to time. 
 “Trading Day” means (i) a day on which the Common Stock is listed or quoted and traded on its Principal Market (other than the OTC Bulletin Board), or (ii) if the Common Stock is not listed on a Trading Market
(other than the OTC Bulletin Board), a day on which the Common Stock is traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on any Trading Market, a day on which the Common
Stock is quoted in the over-the-counter market as reported in the “pink sheets” by Pink Sheets LLC (or any similar organization or agency succeeding to its functions of reporting prices); provided, that in the event that the Common
Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day. 
 “Trading Market” means whichever of the New York Stock Exchange, the NYSE Amex, the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market or OTC Bulletin Board on which the Common Stock is listed
or quoted for trading on the date in question. 
 2. Registration. 
 (a) On or prior to the Filing Deadline, the Company shall prepare and file with the Commission a Registration Statement covering the resale
of all of the Registrable Securities not already covered by an existing and effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 or, if Rule 415 is not available for offers and sales of the
Registrable Securities, by such other means of distribution of Registrable Securities as the Company may reasonably determine (the “Initial Registration Statement”). The Initial Registration Statement shall be on Form S-3 (except if
the Company is then ineligible to register for resale of the Registrable Securities on Form S-3, in which case such registration shall be on such other form available to the Company to register for resale of the Registrable Securities as a secondary
offering) subject to the provisions of Section 2(f) and shall contain (except if otherwise required pursuant to written comments received from the Commission upon a review of such Registration Statement) the “Plan of Distribution”
section substantially in the form attached hereto as Annex A. Notwithstanding the registration obligations set forth in this Section 2, in the event the Commission informs the Company that all of the Registrable Securities cannot, as a
result of the application of Rule 415, be registered for resale as a secondary offering on a single registration statement, the Company agrees to promptly (i) inform each of the Holders thereof and use its commercially reasonable efforts to
file amendments to the Initial Registration Statement as required by the Commission and/or (ii) withdraw the Initial Registration Statement and file a new registration statement (a “New Registration Statement”), in either case
covering the maximum number of Registrable Securities permitted to be registered by the Commission, on Form S-3 or such other form available to the Company to register for resale the Registrable Securities as a secondary offering; provided,
that prior to filing such amendment or New Registration Statement, the Company shall be obligated to use its commercially reasonable efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance with
the SEC Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09. Notwithstanding any other provision of this Agreement and subject to the payment of Liquidated Damages in Section 2(c), if any SEC Guidance sets
forth a limitation of the number of Registrable Securities or other shares of Common Stock permitted to be registered on a particular Registration Statement as a secondary offering (and notwithstanding that the Company used diligent efforts to
advocate with the Commission for the registration of all or a greater number of Registrable Securities), the number of Registrable Securities or other shares of Common Stock to be registered on such Registration Statement will be reduced on a pro
rata basis. In the event the Company amends the Initial Registration Statement or files a New Registration Statement, as the case may be, under

  

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clauses (i) or (ii) above, the Company will use its commercially reasonable efforts to file with the Commission, as promptly as allowed by Commission or SEC Guidance provided to the
Company or to registrants of securities in general, one or more registration statements on Form S-3 or such other form available to the Company to register for resale those Registrable Securities that were not registered for resale on the Initial
Registration Statement, as amended, or the New Registration Statement (the “Remainder Registration Statements”). No Holder shall be named as an “underwriter” in any Registration Statement without such Holder’s prior
written consent. 
 (b) The Company shall use its commercially reasonable efforts to cause each Registration Statement to be
declared effective by the Commission as soon as practicable and, with respect to the Initial Registration Statement or the New Registration Statement, as applicable, no later than the Effectiveness Deadline, and shall use its commercially reasonable
efforts to keep each Registration Statement continuously effective under the Securities Act until the earlier of (i) such time as all of the Registrable Securities covered by such Registration Statement have been publicly sold by the Holders or
(ii) the date that all Registrable Securities covered by such Registration Statement may be sold by non-affiliates without volume or manner of sale restrictions under Rule 144, without the requirement for the Company to be in compliance with
the current public information requirements under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as determined by counsel to the Company pursuant to a written opinion letter to such effect, addressed and reasonably acceptable to the
Company’s transfer agent and the effected Holders (the “Effectiveness Period”). The Company shall request effectiveness of a Registration Statement as of 5:00 p.m. New York City time on a Trading Day. The Company shall promptly
notify the Holders via facsimile or electronic mail of a “.pdf” format data file of the effectiveness of a Registration Statement within one (1) Business Day of the Effective Date. The Company shall, by 9:30 a.m. New York City time on
the first Trading Day after the Effective Date, file a final Prospectus with the Commission, as required by Rule 424(b). 
 (c)
If: (i) the Initial Registration Statement is not filed with the Commission on or prior to the Filing Deadline, (ii) the Initial Registration Statement or the New Registration Statement, as applicable, is not declared effective by the
Commission (or otherwise does not become effective) for any reason on or prior to the Effectiveness Deadline, other than as a result of any open issues arising out of any routine Commission review of Exchange Act filings in effect as of the date
hereof, or (iii) after its Effective Date, (A) such Registration Statement ceases for any reason (including without limitation by reason of a stop order, or the Company’s failure to update the Registration Statement), to remain
continuously effective as to all Registrable Securities for which it is required to be effective or (B) the Holders are not permitted to utilize the Prospectus therein to resell such Registrable Securities, in the case of (A) and
(B) (other than during an Allowable Grace Period (as defined in Section 2(e) of this Agreement)), (iv) a Grace Period (as defined in Section 2(e) of this Agreement) exceeds the length of an Allowable Grace Period, or
(v) after the date six months following the Closing Date, and only in the event a Registration Statement is not effective or available to sell all Registrable Securities, the Company fails to file with the SEC any required reports under
Section 13 or 15(d) of the 1934 Act such that it is not in compliance with Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as a result of which the Holders who are not affiliates are unable to sell Registrable Securities without restriction
under Rule 144 (or any successor thereto) (any such failure or breach in clauses (i) through (v) above being referred to as an “Event,” and, for purposes of clauses (i), (ii), (iii) or (v), the date on which such
Event occurs, or for purposes of clause (iv) the date on which such Allowable Grace Period is exceeded, being referred to as an “Event Date”), then in addition to any other rights the Holders may have hereunder or under
applicable law, on each such Event Date and on each monthly anniversary of each such Event Date (if the applicable Event shall not have been cured by such date) until the applicable Event is cured, the Company shall pay to each Holder an amount in
cash, as liquidated damages and not as a penalty (“Liquidated Damages”), equal to 0.5% of the aggregate purchase price paid by such Holder pursuant to the Purchase Agreement for any Registrable Securities held by such Holder on the
Event Date. The parties agree that

  

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notwithstanding anything to the contrary herein or in the Purchase Agreement, no Liquidated Damages shall be payable (i) if as of the relevant Event Date, the Registrable Securities may be
sold by non-affiliates without volume or manner of sale restrictions under Rule 144 and the Company is in compliance with the current public information requirements under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as determined by counsel
to the Company pursuant to a written opinion letter to such effect, addressed and reasonably acceptable to the Company’s transfer agent and (ii) with respect to any period after the expiration of the Effectiveness Period (it being
understood that this sentence shall not relieve the Company of any Liquidated Damages accruing prior to the Effectiveness Period). If the Company fails to pay any Liquidated Damages pursuant to this Section 2(c) in full within five
(5) Business Days after the date payable, the Company will pay interest thereon at a rate of 1.0% per month (or such lesser maximum amount that is permitted to be paid by applicable law) to the Holder, accruing daily from the date such
Liquidated Damages are due until such amounts, plus all such interest thereon, are paid in full. The Liquidated Damages pursuant to the terms hereof shall apply on a daily pro-rata basis for any portion of a month prior to the cure of an Event,
except in the case of the first Event Date. The Effectiveness Deadline for a Registration Statement shall be extended without default or Liquidated Damages hereunder in the event that the Company’s failure to obtain the effectiveness of the
Registration Statement on a timely basis results from the failure of a Purchaser to timely provide the Company with information requested by the Company and necessary to complete the Registration Statement in accordance with the requirements of
the Securities Act (in which case the Effectiveness Deadline would be extended with respect to Registrable Securities held by such Purchaser). 
 (d) Each Holder agrees to furnish to the Company a completed Selling Stockholder Questionnaire not more than ten (10) Trading Days following the date of this Agreement. At least five (5) Trading
Days prior to the first anticipated filing date of a Registration Statement for any registration under this Agreement, the Company will notify each Holder of the information the Company requires from that Holder other than the information contained
in the Selling Stockholder Questionnaire, if any, which shall be completed and delivered to the Company promptly upon request and, in any event, within two (2) Trading Days prior to the applicable anticipated filing date. Each Holder further
agrees that it shall not be entitled to be named as a selling securityholder in the Registration Statement or use the Prospectus for offers and resales of Registrable Securities at any time, unless such Holder has returned to the Company a completed
and signed Selling Stockholder Questionnaire and a response to any requests for further information as described in the previous sentence. If a Holder of Registrable Securities returns a Selling Stockholder Questionnaire or a request for further
information, in either case, after its respective deadline, the Company shall use its commercially reasonable efforts at the expense of the Holder who failed to return the Selling Stockholder Questionnaire or to respond for further information to
take such actions as are required to name such Holder as a selling security holder in the Registration Statement or any pre-effective or post-effective amendment thereto and to include (to the extent not theretofore included) in the Registration
Statement the Registrable Securities identified in such late Selling Stockholder Questionnaire or request for further information. Each Holder acknowledges and agrees that the information in the Selling Stockholder Questionnaire or request for
further information as described in this Section 2(d) will be used by the Company in the preparation of the Registration Statement and hereby consents to the inclusion of such information in the Registration Statement. 
 (e) Notwithstanding anything to the contrary herein, at any time after the Registration Statement has been declared effective by the
Commission, the Company may delay the disclosure of material non-public information concerning the Company if the disclosure of such information at the time is not, in the good faith judgment of the Company, in the best interests of the Company (a
“Grace Period”); provided, the Company shall promptly (i) notify the Holders in writing of the existence of material non-public information giving rise to a Grace Period (provided that the Company shall not disclose the
content of such material non-public information to the Holders) or the need to file a post-effective amendment, as applicable, and the date on which such Grace Period will

  

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begin, (ii) use reasonable best efforts to terminate a Grace Period as promptly as practicable and (iii) notify the Holders in writing of the date on which the Grace Period ends;
provided, further, that no single Grace Period shall exceed thirty (30) consecutive days, and during any three hundred sixty-five (365) day period, the aggregate of all Grace Periods shall not exceed an aggregate of sixty
(60) days (each Grace Period complying with this provision being an “Allowable Grace Period”). For purposes of determining the length of a Grace Period, the Grace Period shall be deemed to begin on and include the date the
Holders receive the notice referred to in clause (i) above and shall end on and include the later of the date the Holders receive the notice referred to in clause (iii) above and the date referred to in such notice; provided, that
no Grace Period shall be longer than an Allowable Grace Period. Notwithstanding anything to the contrary, the Company shall cause the Transfer Agent to deliver unlegended Common Stock to a transferee of a Holder in accordance with the terms of the
Purchase Agreement in connection with any sale of Registrable Securities with respect to which a Holder has entered into a contract for sale prior to the Holder’s receipt of the notice of a Grace Period and for which the Holder has not yet
settled. 
 (f) In the event that Form S-3 is not available for the registration of the resale of Registrable Securities
hereunder, the Company shall (i) register the resale of the Registrable Securities on another appropriate form and (ii) undertake to register the Registrable Securities on Form S-3 promptly after such form is available, provided
that the Company shall maintain the effectiveness of the Registration Statement then in effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by the Commission. 
 3. Registration Procedures 
 In connection with the Company’s registration obligations hereunder: 
 (a)
the Company shall not less than three (3) Trading Days prior to the filing of a Registration Statement and not less than one (1) Trading Day prior to the filing of any related Prospectus or any amendment or supplement thereto (except for
Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and any similar or successor reports), the Company shall, furnish to the Holder copies of such Registration Statement, Prospectus or amendment or supplement
thereto, as proposed to be filed, which documents will be subject to the review of such Holder (it being acknowledged and agreed that if a Holder does not object to or comment on the aforementioned documents within such three (3) Trading Day or
one (1) Trading Day period, as the case may be, then the Holder shall be deemed to have consented to and approved the use of such documents). The Company shall not file any Registration Statement or amendment or supplement thereto in a form to
which a Holder reasonably objects in good faith, provided that, the Company is notified of such objection in writing within the three (3) Trading Day or one (1) Trading Day period described above, as applicable. 
 (b) (i) the Company shall prepare and file with the Commission such amendments (including post-effective amendments) and supplements, to
each Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement continuously effective as to the applicable Registrable Securities for its Effectiveness Period (except during an
Allowable Grace Period); (ii) the Company shall cause the related Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented or amended, to be filed pursuant
to Rule 424 (except during an Allowable Grace Period); (iii) the Company shall respond as promptly as reasonably practicable to any comments received from the Commission with respect to each Registration Statement or any amendment thereto and,
as promptly as reasonably possible, provide the Holders true and complete copies of all correspondence from and to the Commission relating to such Registration Statement that pertains to the Holders as “Selling Stockholders” but not any
comments that would result in the disclosure to the Holders of material and non-public information concerning the Company; and (iv) the Company shall comply with the provisions of the

  

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Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by a Registration Statement until such time as all of such Registrable Securities shall
have been disposed of (subject to the terms of this Agreement) in accordance with the intended methods of disposition by the Holders thereof as set forth in such Registration Statement as so amended or in such Prospectus as so supplemented;
provided, that each Purchaser shall be responsible for the delivery of the Prospectus to the Persons to whom such Purchaser sells any of the Registrable Securities (including in accordance with Rule 172 under the Securities Act), and each
Purchaser agrees to dispose of Registrable Securities in compliance with the plan of distribution described in the Registration Statement and otherwise in compliance with applicable federal and state securities laws. In the case of amendments and
supplements to a Registration Statement which are required to be filed pursuant to this Agreement (including pursuant to this Section 3(b)) by reason of the Company filing a report on Form 10-K, Form 10-Q or Form 8-K or any analogous report
under the Exchange Act, the Company shall have incorporated such report by reference into such Registration Statement, if applicable, or shall file such amendments or supplements with the Commission on the same day on which the Exchange Act report
which created the requirement for the Company to amend or supplement such Registration Statement was filed. 
 (c) the Company
shall notify the Holders (which notice shall, pursuant to clauses (iii) through (v) hereof, be accompanied by an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as reasonably
practicable (and, in the case of (i)(A) below, not less than two Trading Days prior to such filing, in the case of (iii) and (iv) below, not more than one Trading Day after such issuance or receipt, and in the case of (v) below, not
more than one Trading Day after the occurrence or existence of such development) and (if requested by any such Person) confirm such notice in writing no later than one Trading Day following the day (i)(A) when a Prospectus or any Prospectus
supplement or post-effective amendment to a Registration Statement is proposed to be filed; (B) when the Commission notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission
comments in writing on any Registration Statement (in which case the Company shall provide to each of the Holders true and complete copies of all comments that pertain to the Holders as a “Selling Stockholder” or to the “Plan of
Distribution” and all written responses thereto, but not information that the Company believes would constitute material and non-public information); and (C) with respect to each Registration Statement or any post-effective amendment, when
the same has become effective; (ii) of any request by the Commission or any other Federal or state governmental authority for amendments or supplements to a Registration Statement or Prospectus or for additional information that pertains to the
Holders as “Selling Stockholders” or the “Plan of Distribution”; (iii) of the issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of a Registration
Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from
qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and (v) of the occurrence of any event or passage of time that makes the financial statements
included in a Registration Statement ineligible for inclusion therein or any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or
that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus, form of prospectus or supplement thereto, in light of the circumstances under which they were made), not misleading.

 (d) the Company shall use commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of
(i) any order suspending the effectiveness of a Registration

  

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Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, as soon as practicable.

 (e) the Company shall, if requested by a Holder, furnish to such Holder, without charge, at least one conformed copy of each
Registration Statement and each amendment thereto and all exhibits to the extent requested by such Person (including those previously furnished or incorporated by reference) promptly after the filing of such documents with the Commission;
provided, that the Company shall have no obligation to provide any document pursuant to this clause that is available on the Commission’s EDGAR system. 
 (f) the Company shall, prior to any resale of Registrable Securities by a Holder, use its commercially reasonable efforts to register or qualify or cooperate with the selling Holders in connection with
the registration or qualification (or exemption from the registration or qualification) of such Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such jurisdictions within the United States as any Holder
reasonably requests in writing, to keep each registration or qualification (or exemption therefrom) effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition in such
jurisdictions of the Registrable Securities covered by each Registration Statement; provided, that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified, subject the
Company to any material tax in any such jurisdiction where it is not then so subject or file a general consent to service of process in any such jurisdiction. 
 (g) the Company shall, cooperate with the Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be delivered to a transferee pursuant to the
Registration Statement, which certificates shall be free, to the extent permitted by the Purchase Agreement and under law, of all restrictive legends, and to enable such Registrable Securities to be in such denominations and registered in such names
as any such Holders may reasonably request. Certificates for Registrable Securities free from all restrictive legends may be transmitted by the transfer agent to a Holder by crediting the account of such Holder’s prime broker with DTC as
directed by such Holder. 
 (h) the Company shall following the occurrence of any event contemplated by
Section 3(c)(iii)-(v), as promptly as reasonably practicable (taking into account the Company’s good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure of such event), prepare and
file a supplement or amendment, including a post-effective amendment, to the affected Registration Statements or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any
other required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus, form of prospectus or supplement thereto, in light of the circumstances under which they were made), not misleading. 
 (i) the Company may require each selling Holder to furnish to the Company a certified statement as to (i) the number of shares of Common Stock beneficially owned by such Holder and any Affiliate
thereof, (ii) any Financial Industry Regulatory Authority (“FINRA”) affiliations, (iii) any natural persons who have the power to vote or dispose of the Common Stock and (iv) any other information as may be requested
by the Commission, FINRA or any state securities commission. During any periods that the Company is unable to meet its obligations hereunder with respect to the registration of Registrable Securities because any Holder fails to furnish such
information within three Trading Days of the Company’s request, any Liquidated Damages that are accruing at such time as to such Holder only

  

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shall be tolled and any Event that may otherwise occur solely because of such delay shall be suspended as to such Holder only, until such information is delivered to the Company. 
 (j) the Company shall cooperate with any registered broker through which a Holder proposes to resell its Registrable Securities in effecting
a filing with FINRA pursuant to NASD Rule 2710 as requested by any such Holder and the Company shall pay the filing fee required for the first such filing within two (2) Business Days of the request therefore. 
 (k) the Company shall use its commercially reasonable efforts to maintain eligibility for use of Form S-3 (or any successor form thereto)
for the registration of the resale of Registrable Securities. 
 (l) if requested by a Holder, the Company shall
(i) promptly incorporate in a Prospectus supplement or post-effective amendment to the Registration Statement such information as the Company reasonably agrees should be included therein and (ii) make all required filings of such
Prospectus supplement or such post-effective amendment as soon as reasonably practicable after the Company has received notification of the matters to be incorporated in such Prospectus supplement or post-effective amendment. 
 (m) the Company shall otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission
under the Securities Act and the Exchange Act, including Rule 172, notify the Holders promptly if the Company no longer satisfies the conditions of Rule 172 and take such other actions as may be reasonably necessary to facilitate the registration of
the Registrable Securities hereunder; and make available to its security holders, as soon as reasonably practicable, but not later than the Availability Date (as defined below), an earnings statement covering a period of at least twelve
(12) months, beginning after the effective date of each Registration Statement, which earning statement shall satisfy the provisions of Section 11(a) of the Securities Act, including Rule 158 promulgated thereunder (for the purpose of this
Section 3, “Availability Date” means the 45th day following the end of the fourth fiscal quarter that includes the effective date of such Registration Statement, except that, if such fourth fiscal quarter is the last quarter of the
Company’s fiscal year, “Availability Date” means the 90th day after the end of such fourth fiscal quarter), in each case subject to extensions permissible under applicable law. 
 4. Registration Expenses. All fees and expenses incident to the Company’s performance of or compliance with its obligations
under this Agreement (excluding any underwriting discounts and selling commissions and all legal fees and expenses of legal counsel for any Holder) shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a
Registration Statement. The fees and expenses referred to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation, fees and expenses (A) with respect to filings
required to be made with any Trading Market on which the Common Stock is then listed for trading, (B) with respect to compliance with applicable state securities or Blue Sky laws (including, without limitation, fees and disbursements of counsel
for the Company in connection with Blue Sky qualifications or exemptions of the Registrable Securities and determination of the eligibility of the Registrable Securities for investment under the laws of such jurisdictions as requested by the
Holders) and (C) if not previously paid by the Company in connection with an Issuer Filing, with respect to any filing that may be required to be made by any broker through which a Holder intends to make sales of Registrable Securities with
FINRA pursuant to FINRA Rule 5110, so long as the broker is receiving no more than a customary brokerage commission in connection with such sale, (ii) printing expenses (including, without limitation, expenses of printing certificates for
Registrable Securities and of printing prospectuses if the printing of prospectuses is reasonably requested by the Holders of a majority of the Registrable Securities included in

  

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the Registration Statement), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel for the Company, (v) Securities Act liability insurance, if
the Company so desires such insurance, and (vi) fees and expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by this Agreement. In addition, the Company shall be responsible
for all of its internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting
duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall the Company be responsible for any
underwriting, broker or similar fees or commissions of any Holder or, except to the extent provided for in the Transaction Documents, any legal fees or other costs of the Holders. 
 5. Indemnification. 
 (a) Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify, defend and hold harmless each Holder, the officers, directors, agents, general
partners, managing members, managers, Affiliates and employees of each of them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers,
directors, general partners, managing members, managers, agents and employees of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including,
without limitation, reasonable costs of preparation and investigation and reasonable attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise out of or are based upon any untrue or alleged untrue
statement of a material fact contained in any Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged
omission to state a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement thereto, in light of the circumstances under which they were made) not
misleading, except to the extent, but only to the extent, that (A) such untrue statements, alleged untrue statements, omissions or alleged omissions are based solely upon information regarding such Holder furnished in writing to the Company by
such Holder expressly for use therein, or to the extent that such information relates to such Holder or such Holder’s proposed method of distribution of Registrable Securities and was reviewed and approved by such Holder expressly for use in
the Registration Statement, such Prospectus or such form of Prospectus or in any amendment or supplement thereto (it being understood that each Holder has approved Annex A hereto for this purpose), or (B) in the case of an occurrence of
an event of the type specified in Section 3(c)(iii)-(v), related to the use by a Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior to the
receipt by such Holder of the Advice contemplated and defined in Section 6(d) below, but only if and to the extent that following the receipt of the Advice the misstatement or omission giving rise to such Loss would have been corrected. The
Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding arising from or in connection with the transactions contemplated by this Agreement of which the Company is aware. Such indemnity shall remain in full
force and effect regardless of any investigation made by or on behalf of an Indemnified Party (as defined in Section 5(c)) and shall survive the transfer of the Registrable Securities by the Holders. 
 (b) Indemnification by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors,
officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons,
to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or are based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement,

  

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any Prospectus, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a
material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus, or any form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading
(i) to the extent, but only to the extent, that such untrue statements or omissions are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein or (ii) to the extent,
but only to the extent, that such information relates to such Holder or such Holder’s proposed method of distribution of Registrable Securities and was reviewed and approved by such Holder expressly for use in a Registration Statement (it being
understood that the Holder has approved Annex A hereto for this purpose), such Prospectus or such form of Prospectus or in any amendment or supplement thereto or (iii) in the case of an occurrence of an event of the type specified in
Section 3(c)(iii)-(v), to the extent, but only to the extent, related to the use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior
to the receipt by such Holder of the Advice contemplated in Section 6(d), but only if and to the extent that following the receipt of the Advice the misstatement or omission giving rise to such Loss would have been corrected. In no event shall
the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation. 
 (c) Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity
hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought (the “Indemnifying Party”) in writing, and the Indemnifying Party shall have the right to
assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all reasonable fees and expenses incurred in connection with defense thereof; provided, that the failure of
any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by a court of competent jurisdiction
(which determination is not subject to appeal or further review) that such failure shall have materially and adversely prejudiced the Indemnifying Party. 
 An Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of
such Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed in writing to pay such fees and expenses; (2) the Indemnifying Party shall have failed promptly to assume the defense of such Proceeding and to employ counsel
reasonably satisfactory to such Indemnified Party in any such Proceeding; or (3) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and such Indemnified
Party shall have been advised by counsel that a conflict of interest exists if the same counsel were to represent such Indemnified Party and the Indemnifying Party; provided, that the Indemnifying Party shall not be liable for the fees and
expenses of more than one separate firm of attorneys at any time for all Indemnified Parties. The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which consent shall not be
unreasonably withheld, delayed or conditioned. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such
settlement includes an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding. 
 Subject to the terms of this Agreement, all fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in connection with investigating or preparing to
defend such Proceeding in a manner not inconsistent with this Section 5(c)) shall be paid to the Indemnified Party, as incurred, within twenty Trading Days of written notice thereof to the

  

 12 

 
Indemnifying Party; provided, that the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and expenses applicable to such actions for which
such Indemnified Party is finally judicially determined to not be entitled to indemnification hereunder). The failure to deliver written notice to the Indemnifying Party within a reasonable time of the commencement of any such action shall not
relieve such Indemnifying Party of any liability to the Indemnified Party under this Section 5, except to the extent that the Indemnifying Party is materially and adversely prejudiced in its ability to defend such action. 
 (d) Contribution. If a claim for indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party or
insufficient to hold an Indemnified Party harmless for any Losses, then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in
such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable
considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or
omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information and opportunity
to correct or prevent such action, statement or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in this Agreement, any reasonable attorneys’ or other
reasonable fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section 5(d) was available to such
party in accordance with its terms. 
 The parties hereto agree that it would not be just and equitable if contribution pursuant
to this Section 5(d) were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of
this Section 5(d), no Holder shall be required to contribute, in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder from the sale of the Registrable Securities subject to the Proceeding
exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 
 The indemnity and contribution agreements contained in this Section 5 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties and are not in diminution or
limitation of the indemnification provisions under the Purchase Agreement. 
 6. Miscellaneous. 
 (a) Remedies. In the event of a breach by the Company or by a Holder of any of their obligations under this Agreement, each Holder or
the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Company
and each Holder agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and hereby further agrees that, in the event of any action for
specific performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate. 
  

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 (b) No Piggyback on Registrations; Prohibition on Filing Other Registration
Statements. Neither the Company nor any of its security holders (other than the Contractual Securityholders) may include securities of the Company in a Registration Statement hereunder other than the Contractual Securities and the Company shall
not prior to the Effective Date enter into any agreement providing any such right to any of its security holders. The Company shall not, from the date hereof until the date that is 30 days after the Effective Date of the Initial Registration
Statement, prepare and file with the Commission a registration statement relating to an offering for its own account under the Securities Act of any of its equity securities, other than (i) a registration statement on Form S-8, (ii) in
connection with an acquisition, on Form S-4 or (iii) a registration statement to register for resale securities issued by the Company pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors of
the Company, provided that any such issuance shall only be to a Person which is, itself or through its subsidiaries, an operating company in a business synergistic with the business of the Company and in which the Company receives benefits in
addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities. For the avoidance of
doubt, the Company shall not be prohibited from preparing and filing with the Commission a registration statement relating to an offering of Common Stock by existing stockholders of the Company under the Securities Act pursuant to the terms of
registration rights held by such stockholder or from filing amendments to registration statements filed prior to the date of this Agreement. 
 (c) Compliance. Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable to it (unless an exemption therefrom is available)
in connection with sales of Registrable Securities pursuant to the Registration Statement and shall sell the Registrable Securities only in accordance with a method of distribution described in the Registration Statement 
 (d) Discontinued Disposition. By its acquisition of Registrable Securities, each Holder agrees that, upon receipt of a notice from
the Company of the occurrence of any event of the kind described in Section 3(c)(iii)-(v), such Holder will forthwith discontinue disposition of such Registrable Securities under a Registration Statement until it is advised in writing (the
“Advice”) by the Company that the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company may provide appropriate stop orders to enforce the provisions of this paragraph.

 (e) No Inconsistent Agreements. Neither the Company nor any of its Subsidiaries has entered, as of the date hereof,
nor shall the Company or any of its Subsidiaries, on or after the date hereof, enter into any agreement with respect to its securities, that would have the effect of impairing the rights granted to the Holders in this Agreement or otherwise
conflicts with the provisions hereof. 
 (f) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, modified or supplemented, or waived unless the same shall be in writing and signed by the Company and Holders holding at least two-thirds of the then outstanding Registrable Securities, provided that
any party may give a waiver as to itself. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders and that does not directly or indirectly
affect the rights of other Holders may be given by Holders of all of the Registrable Securities to which such waiver or consent relates; provided, that the provisions of this sentence may not be amended, modified, or supplemented except in
accordance with the provisions of the immediately preceding sentence. Notwithstanding the foregoing, if any such amendment, modification or waiver would adversely affect in any material respect any Holder or group of Holders who have comparable
rights under this Agreement disproportionately to the other Holders having such comparable rights, such amendment, modification, or waiver shall also require the written consent of the Holder(s) so adversely affected. 
  

 14 

 (g) Notices. Any and all notices or other communications or deliveries required or
permitted to be provided hereunder shall be delivered as set forth in the Purchase Agreement; provided that the Company may deliver to each Holder the documents required to be delivered to such Holder under Section 3(a) of this Agreement by
e-mail to the e-mail addresses provided by such Holder to the Company solely for such specific purpose. 
 (h) Successors and
Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties and shall inure to the benefit of each Holder. Nothing in this Agreement, express or implied, is intended to
confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. The Company may
not assign its rights (except by merger or in connection with another entity acquiring all or substantially all of the Company’s assets) or obligations hereunder without the prior written consent of all the Holders of the then outstanding
Registrable Securities. Each Holder may assign its respective rights hereunder in the manner and to the Persons as permitted under the Purchase Agreement. 
 (i) Execution and Counterparts. This Agreement may be executed in two or more counterparts, each of which when so executed shall be deemed to be an original and, all of which taken together shall
constitute one and the same Agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any
signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the
same force and effect as if such facsimile or “.pdf” signature were the original thereof. 
 (j) Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined in accordance with the provisions of the Purchase Agreement. 
 (k) Cumulative Remedies. Except as provided in Section 2(c) with respect to Liquidated Damages, the remedies provided herein are
cumulative and not exclusive of any other remedies provided by law. 
 (l) Severability. If any term, provision, covenant
or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect
and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their good faith reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such
term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable. 
 (m) Headings. The headings in this Agreement are for
convenience only and shall not limit or otherwise affect the meaning hereof. 
 (n) Independent Nature of Purchasers’
Obligations and Rights. The obligations of each Purchaser under this Agreement are several and not joint with the obligations of any other Purchaser hereunder, and no Purchaser shall be responsible in any way for the performance of the
obligations of any other Purchaser hereunder. The decision of each Purchaser to purchase the Preferred Shares pursuant to the Transaction Documents has been made independently of any other Purchaser. Nothing contained

  

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herein or in any other agreement or document delivered at any closing, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers as a
partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert with respect to such obligations or the transactions contemplated by this Agreement. Each
Purchaser acknowledges that no other Purchaser has acted as agent for such Purchaser in connection with making its investment hereunder and that no Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment in
the Preferred Shares or enforcing its rights under the Transaction Documents. Each Purchaser shall be entitled to protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary
for any other Purchaser to be joined as an additional party in any Proceeding for such purpose. The Company acknowledges that each of the Purchasers has been provided with the same Registration Rights Agreement for the purpose of closing a
transaction with multiple Purchasers and not because it was required or requested to do so by any Purchaser. 
  

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 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	CITIZENS SOUTH BANKING CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

 [REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK, 
 SIGNATURE PAGES OF HOLDERS TO FOLLOW] 

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	NAME OF INVESTING ENTITY
	
	  

	
	AUTHORIZED SIGNATORY
		
	By:	 	  

		 	Name:
		 	Title:

			
	
	ADDRESS FOR NOTICE
		
	c/o:	 	  

			
		
	Street:	 	  

			
		
	City/State/Zip:	 	  

			
		
	Attention:	 	  

			
		
	Tel:	 	  

		
	Fax:	 	  

		
	Email:	 	  

 Annex A 
 PLAN OF DISTRIBUTION 
 We are registering the Securities issued to the
selling stockholder to permit the resale of these Securities by the holders of the Securities from time to time after the date of this prospectus. We will not receive any of the proceeds from the sale by the selling stockholders of the Securities.
We will bear all fees and expenses incident to our obligation to register the Securities. 
 The selling stockholders may sell
all or a portion of the Securities beneficially owned by them and offered hereby from time to time directly or through one or more underwriters, broker-dealers or agents. If the Securities are sold through underwriters or broker-dealers, the selling
stockholders will be responsible for underwriting discounts or commissions or agent’s commissions. The Securities may be sold on any national securities exchange or quotation service on which the securities may be listed or quoted at the time
of sale, in the over-the-counter market or in transactions otherwise than on these exchanges or systems or in the over-the-counter market and in one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at
varying prices determined at the time of sale, or at negotiated prices. These sales may be effected in transactions, which may involve crosses or block transactions. The selling stockholders may use any one or more of the following methods when
selling Securities: 
  

	 	•	 	 ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; 

  

	 	•	 	 block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to
facilitate the transaction; 

  

	 	•	 	 purchases by a broker-dealer as principal and resale by the broker-dealer for its account; 

  

	 	•	 	 an exchange distribution in accordance with the rules of the applicable exchange; 

  

	 	•	 	 privately negotiated transactions; 

  

	 	•	 	 settlement of short sales entered into after the effective date of the registration statement of which this prospectus is a part;

  

	 	•	 	 broker-dealers may agree with the selling stockholders to sell a specified number of such securities at a stipulated price per share;

  

	 	•	 	 through the writing or settlement of options or other hedging transactions, whether such options are listed on an options exchange or otherwise;

  

	 	•	 	 a combination of any such methods of sale; and 

  

	 	•	 	 any other method permitted pursuant to applicable law. 

 The selling stockholders also may resell all or a portion of the Securities in open market transactions in reliance upon Rule 144 under the Securities Act, as permitted by that rule, or Section 4(1)
under the Securities Act, if available, rather than under this prospectus, provided that they meet the criteria and conform to the requirements of those provisions. 
 Broker-dealers engaged by the selling stockholders may arrange for other broker-dealers to participate in sales. If the selling stockholders effect such transactions by selling Securities to or through

 
underwriters, broker-dealers or agents, such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions or commissions from the selling stockholders or
commissions from purchasers of the Securities for whom they may act as agent or to whom they may sell as principal. Such commissions will be in amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in the case of an
agency transaction will not be in excess of a customary brokerage commission in compliance with NASD Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with NASD IM-2440. 
 In connection with sales of the Securities or otherwise, the selling stockholders may enter into hedging transactions with broker-dealers or
other financial institutions, which may in turn engage in short sales of the Securities in the course of hedging in positions they assume. The selling stockholders may also sell Securities short and if such short sale shall take place after the date
that this Registration Statement is declared effective by the Commission, the selling stockholders may deliver Securities covered by this prospectus to close out short positions and to return borrowed shares in connection with such short sales. The
selling stockholders may also loan or pledge Securities to broker-dealers that in turn may sell such shares, to the extent permitted by applicable law. The selling stockholders may also enter into option or other transactions with broker-dealers or
other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares offered by this prospectus, which shares such broker-dealer or other
financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). Notwithstanding the foregoing, the selling stockholders have been advised that they may not use shares registered on this
registration statement to cover short sales of our Securities made prior to the date the registration statement, of which this prospectus forms a part, has been declared effective by the SEC. 
 The selling stockholders may, from time to time, pledge or grant a security interest in some or all of the Securities owned by them and, if
they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the Securities from time to time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other
applicable provision of the Securities Act of 1933, as amended, amending, if necessary, the list of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders under this prospectus. The selling
stockholders also may transfer and donate the Securities in other circumstances in which case the transferees, donees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus. 
 The selling stockholders and any broker-dealer or agents participating in the distribution of the Securities may be deemed to be
“underwriters” within the meaning of Section 2(11) of the Securities Act in connection with such sales. In such event, any commissions paid, or any discounts or concessions allowed to, any such broker-dealer or agent and any profit on
the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Selling Stockholders who are “underwriters” within the meaning of Section 2(11) of the Securities Act will
be subject to the applicable prospectus delivery requirements of the Securities Act and may be subject to certain statutory liabilities of, including but not limited to, Sections 11, 12 and 17 of the Securities Act and Rule 10b-5 under the
Securities Exchange Act of 1934, as amended, or the Exchange Act. 
 Each selling stockholder has informed the Company that it
is not a registered broker-dealer and does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the Securities. Upon the Company being notified in writing by a selling stockholder that any
material arrangement has been entered into with a broker-dealer for the sale of Securities through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer, a supplement to this prospectus
will be filed, if required, pursuant to Rule 424(b) under the Securities Act, disclosing (i) the name of each such selling stockholder and of the participating broker-dealer(s), (ii) the number of shares involved, (iii) the price at
which such the Securities were sold, (iv) the commissions paid or discounts or concessions allowed to such broker-dealer(s), where applicable, (v) that such broker-dealer(s)

 
did not conduct any investigation to verify the information set out or incorporated by reference in this prospectus, and (vi) other facts material to the transaction. In no event shall any
broker-dealer receive fees, commissions and markups, which, in the aggregate, would exceed eight percent (8%). 
 Under the
securities laws of some states, the Common Stock may be sold in such states only through registered or licensed brokers or dealers. In addition, in some states the Common Stock may not be sold unless such shares have been registered or qualified for
sale in such state or an exemption from registration or qualification is available and is complied with. 
 There can be no
assurance that any selling stockholder will sell any or all of the Securities registered pursuant to the shelf registration statement, of which this prospectus forms a part. 
 Each selling stockholder and any other person participating in such distribution will be subject to applicable provisions of the Securities
Exchange Act of 1934, as amended, and the rules and regulations thereunder, including, without limitation, to the extent applicable, Regulation M of the Exchange Act, which may limit the timing of purchases and sales of any of the Securities by the
selling stockholder and any other participating person. To the extent applicable, Regulation M may also restrict the ability of any person engaged in the distribution of the Securities to engage in market-making activities with respect to the
Securities. All of the foregoing may affect the marketability of the Securities and the ability of any person or entity to engage in market-making activities with respect to the Securities. 
 We will pay all expenses of the registration of the Securities pursuant to the registration rights agreement, including, without limitation,
Securities and Exchange Commission filing fees and expenses of compliance with state securities or “blue sky” laws; provided, that each selling stockholder will pay all underwriting discounts and selling commissions, if any and any
related legal expenses incurred by it. We will indemnify the selling stockholders against certain liabilities, including some liabilities under the Securities Act, in accordance with the registration rights agreement, or the selling stockholders
will be entitled to contribution. We may be indemnified by the selling stockholders against civil liabilities, including liabilities under the Securities Act, that may arise from any written information furnished to us by the selling stockholders
specifically for use in this prospectus, in accordance with the related registration rights agreements, or we may be entitled to contribution. 

 Annex B 
 CITIZENS SOUTH BANKING CORPORATION 
 SELLING STOCKHOLDER NOTICE AND
QUESTIONNAIRE 
 The undersigned holder of securities of Citizens South Banking Corporation, a Delaware corporation (the
“Company”), issued pursuant to a certain Investment Agreement by and among the Company and the Purchasers named therein, dated as of March     , 2010, understands that the Company intends to file with the
Securities and Exchange Commission a registration statement on Form S-3 (the “Resale Registration Statement”) for the registration and the resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities
Act”), of the Registrable Securities in accordance with the terms of a certain Registration Rights Agreement by and among the Company and the Purchasers named therein, dated as of March     , 2010 (the
“Agreement”). All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Agreement. 
 In order to sell or otherwise dispose of any Registrable Securities pursuant to the Resale Registration Statement, a holder of Registrable Securities generally will be required to be named as a selling
stockholder in the related prospectus or a supplement thereto (as so supplemented, the “Prospectus”), deliver the Prospectus to purchasers of Registrable Securities (including pursuant to Rule 172 under the Securities Act) and be
bound by the provisions of the Agreement (including certain indemnification provisions, as described below). Holders must complete and deliver this Notice and Questionnaire in order to be named as selling stockholders in the Prospectus. Holders
of Registrable Securities who do not complete, execute and return this Notice and Questionnaire within ten (10) Trading Days following the date of the Agreement (1) will not be named as selling stockholders in the Resale Registration
Statement or the Prospectus and (2) may not use the Prospectus for resales of Registrable Securities.  
 Certain legal
consequences arise from being named as a selling stockholder in the Resale Registration Statement and the Prospectus. Holders of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named
or not named as a selling stockholder in the Resale Registration Statement and the Prospectus. 
 NOTICE 
 The undersigned holder (the “Selling Stockholder”) of Registrable Securities hereby gives notice to the Company of its
intention to sell or otherwise dispose of Registrable Securities owned by it and listed below in Item (3), unless otherwise specified in Item (3), pursuant to the Resale Registration Statement. The undersigned, by signing and returning this Notice
and Questionnaire, understands and agrees that it will be bound by the terms and conditions of this Notice and Questionnaire and the Agreement. 
 The undersigned hereby provides the following information to the Company and represents and warrants that such information is accurate and complete: 
 QUESTIONNAIRE 
 1. Name.

  

	 	(a)	Full Legal Name of Selling Stockholder: 

  

	
	  

	 	(b)	Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities Listed in Item 3 below are held:

  

	
	  

  

	 	(c)	Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly alone or with others has power to vote or dispose of the securities
covered by the questionnaire): 

  

	
	  

 2. Address for Notices to Selling Stockholder: 
  

			
	  

	  

	  

	Telephone:	 	  

			
	Fax:	 	  

			
	Contact Person:	 	  

					
	E-mail address of Contact Person:  	 	  
	 	

 3. Beneficial Ownership of Registrable Securities Issuable Pursuant to the Purchase Agreement: 
  

	 	(a)	Type and Number of Registrable Securities beneficially owned and issued pursuant to the Agreement: 

  

	
	  

	  

	  

  

	 	(b)	Number of Securities to be registered pursuant to this Notice for resale: 

  

	
	  

	  

	  

 4. Broker-Dealer Status: 
  

	 	(a)	Are you a broker-dealer? 

 Yes   ̈            No   ̈ 

	 	(b)	If “yes” to Section 4(a), did you receive your Registrable Securities as compensation for investment banking services to the Company?

 Yes   ̈            No   ̈ 
 Note:    If no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement. 
  

	 	(c)	Are you an affiliate of a broker-dealer? 

 Yes   ̈            No   ̈ 
  

	 	Note:	If yes, provide a narrative explanation below: 

  

	
	  

	  

  

	 	(d)	If you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities in the ordinary course of business, and at the time of the
purchase of the Registrable Securities to be resold, you had no agreements or understandings, directly or indirectly, with any person to distribute the Registrable Securities? 

 Yes   ̈            No   ̈ 
  

	 	Note:	If no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement. 

 5. Beneficial Ownership of Other Securities of the Company Owned by the Selling Stockholder. 
 Except as set forth below in this Item 5, the undersigned is not the beneficial or registered owner of any securities of the Company
other than the Registrable Securities listed above in Item 3. 
 Type and amount of other securities beneficially owned:

  

	
	  

	
	  

 6. Relationships with the Company: 
 Except as set forth below, neither
the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the equity securities of the undersigned) has held any position or office or has had any other material relationship with the Company
(or its predecessors or affiliates) during the past three years. 
 State any exceptions here: 
  

	
	  

	  

 7. Plan of Distribution: 
 The undersigned has reviewed the form of Plan of Distribution attached as Annex A to the Registration Rights Agreement, and hereby
confirms that, except as set forth below, the information contained therein regarding the undersigned and its plan of distribution is correct and complete. 
 State any exceptions here: 
  

	
	  

	  

 *********** 
 By signing below, the undersigned consents to the disclosure of the information
contained herein in its answers to Items (1) through (7) above and the inclusion of such information in the Resale Registration Statement and the Prospectus. The undersigned understands that such information will be relied upon by the
Company in connection with the preparation or amendment of any such Registration Statement and the Prospectus. 
 By signing below, the
undersigned acknowledges that it understands its obligation to comply, and agrees that it will comply, with the provisions of the Exchange Act and the rules and regulations thereunder, particularly Regulation M in connection with any offering of
Registrable Securities pursuant to the Resale Registration Statement. The undersigned also acknowledges that it understands that the answers to this Questionnaire are furnished for use in connection with Registration Statements filed pursuant to the
Registration Rights Agreement and any amendments or supplements thereto filed with the Commission pursuant to the Securities Act. 
 I confirm
that, to the best of my knowledge and belief, the foregoing statements (including without limitation the answers to this Questionnaire) are correct. 
 IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Questionnaire to be executed and delivered either in person or by its duly authorized agent. 
  

											
	Dated:	 	  
	 		 	Beneficial Owner:	 	  

					
		 		 		 	By:	 	  

		 		 		 		 	Name:	 	
		 		 		 		 	Title:Indenture

 Exhibit 4.1 
 Execution Version 
  
  
 CME GROUP INDEX SERVICES LLC, 

 Issuer 
 CME GROUP INC., 
 Guarantor 
 AND 
 U.S.
BANK NATIONAL ASSOCIATION, 
 Trustee 
  
  
 INDENTURE 
 Dated as of March 18, 2010 

 4.40% Senior Notes due 2018 
  
  

 CROSS-REFERENCE SHEET* 
  

			
	 Section of Trust Indenture Act of 1939, as amended
	  	 Section of
 Indenture

	310(a)(1)	  	609
	310(a)(2)	  	609
	310(a)(3)	  	Not Applicable
	310(a)(4)	  	Not Applicable
	310(b)	  	608, 610
	311(a)	  	613
	311(b)	  	613
	312(a)	  	701, 702
	312(b)	  	702
	312(c)	  	702
	313(a)	  	703
	313(b)	  	703
	313(c)	  	703
	313(d)	  	703
	314(a)	  	704
	314(a)(4)	  	1004
	314(b)	  	Not Applicable
	314(c)(1)	  	102
	314(c)(2)	  	102
	314(c)(3)	  	Not Applicable
	314(d)	  	Not Applicable
	314(e)	  	102
	315(a)	  	601
	315(b)	  	602
	315(c)	  	601
	315(d)	  	601
	315(e)	  	514
	316(a)	  	101
	316(a)(1)(A)	  	502, 512
	316(a)(1)(B)	  	513
	316(a)(2)	  	Not Applicable
	316(b)	  	508
	316(c)	  	104
	317(a)(1)	  	503
	317(a)(2)	  	504
	317(b)	  	1003
	318(a)	  	107

  

	*	This cross-reference sheet does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.

					
	 	  	Page
		
	ARTICLE I        DEFINITIONS	  	1
			
	 SECTION 101.
	  	Definitions	  	1
	 SECTION 102.
	  	Compliance Certificates and Opinions	  	15
	 SECTION 103.
	  	Form of Documents Delivered to Trustee	  	16
	 SECTION 104.
	  	Acts of Holders; Record Dates	  	16
	 SECTION 105.
	  	Notices, Etc., to Trustee, the Company and the Guarantor	  	18
	 SECTION 106.
	  	Notice to Holders; Waiver	  	19
	 SECTION 107.
	  	Conflict with Trust Indenture Act	  	19
	 SECTION 108.
	  	Effect of Headings and Table of Contents	  	19
	 SECTION 109.
	  	Successors and Assigns	  	19
	 SECTION 110.
	  	Separability Clause	  	19
	 SECTION 111.
	  	Benefits of Indenture	  	20
	 SECTION 112.
	  	Governing Law	  	20
	 SECTION 113.
	  	Legal Holidays	  	20
	 SECTION 114.
	  	Language of Notices, Etc.	  	20
	 SECTION 115.
	  	Submission to Jurisdiction	  	20
		
	ARTICLE II        SECURITY FORMS	  	20
			
	 SECTION 201.
	  	General	  	20
	 SECTION 202.
	  	Global Securities	  	21
	 SECTION 203.
	  	Euroclear and Clearstream Procedures Applicable	  	21
		
	ARTICLE III        THE SECURITIES	  	22
			
	 SECTION 301.
	  	Intentionally Left Blank	  	22
	 SECTION 302.
	  	Intentionally Left Blank	  	22
	 SECTION 303.
	  	Execution, Authentication, Delivery and Dating	  	22
	 SECTION 304.
	  	Temporary Securities	  	22
	 SECTION 305.
	  	Registration, Registration of Transfer and Exchange	  	23
	 SECTION 306.
	  	Transfer and Exchange of Global Securities	  	24
	 SECTION 307.
	  	Mutilated, Destroyed, Lost and Stolen Securities	  	33
	 SECTION 308.
	  	Payment of Interest; Interest Rights Preserved	  	34
	 SECTION 309.
	  	Persons Deemed Owners	  	35
	 SECTION 310.
	  	Cancellation	  	35
	 SECTION 311.
	  	Computation of Interest	  	35
	 SECTION 312.
	  	CUSIP or ISIN Numbers	  	35
		
	ARTICLE IV        SATISFACTION AND DISCHARGE	  	36
			
	 SECTION 401.
	  	Satisfaction and Discharge of Indenture	  	36
	 SECTION 402.
	  	Application of Trust Money	  	37

  

 -i- 

					
	 	  	Page
		
	 ARTICLE V        REMEDIES
	  	37
			
	 SECTION 501.
	  	Events of Default	  	37
	 SECTION 502.
	  	Acceleration of Maturity; Rescission and Annulment	  	38
	 SECTION 503.
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	39
	 SECTION 504.
	  	Trustee May File Proofs of Claim	  	40
	 SECTION 505.
	  	Trustee May Enforce Claims Without Possession of Securities	  	40
	 SECTION 506.
	  	Application of Money Collected	  	41
	 SECTION 507.
	  	Limitation on Suits	  	41
	 SECTION 508.
	  	Unconditional Right of Holders to Receive Principal, Premium and Interest	  	42
	 SECTION 509.
	  	Restoration of Rights and Remedies	  	42
	 SECTION 510.
	  	Rights and Remedies Cumulative	  	42
	 SECTION 511.
	  	Delay or Omission Not Waiver	  	42
	 SECTION 512.
	  	Control by Holders	  	42
	 SECTION 513.
	  	Waiver of Past Defaults	  	43
	 SECTION 514.
	  	Undertaking for Costs	  	43
	 SECTION 515.
	  	Waiver of Usury, Stay or Extension Laws	  	43
		
	ARTICLE VI        THE TRUSTEE	  	43
			
	 SECTION 601.
	  	Certain Duties and Responsibilities	  	43
	 SECTION 602.
	  	Notice of Defaults	  	44
	 SECTION 603.
	  	Certain Rights of Trustee	  	44
	 SECTION 604.
	  	Not Responsible for Recitals or Issuance of Securities	  	45
	 SECTION 605.
	  	May Hold Securities	  	45
	 SECTION 606.
	  	Money Held in Trust	  	46
	 SECTION 607.
	  	Compensation and Reimbursement	  	46
	 SECTION 608.
	  	Conflicting Interests	  	46
	 SECTION 609.
	  	Corporate Trustee Required; Eligibility	  	46
	 SECTION 610.
	  	Resignation and Removal; Appointment of Successor	  	47
	 SECTION 611.
	  	Acceptance of Appointment by Successor	  	48
	 SECTION 612.
	  	Merger, Conversion, Consolidation or Succession to Business	  	48
	 SECTION 613.
	  	Preferential Collection of Claims Against Company or the Guarantor	  	49
	 SECTION 614.
	  	Appointment of Authenticating Agent	  	49

  

 -ii- 

					
	 	  	Page
		
	 ARTICLE VII        HOLDERS’ LISTS AND REPORTS BY TRUSTEE, COMPANY AND
GUARANTOR
	  	50
			
	 SECTION 701.
	  	Company and Guarantor to Furnish Trustee Names and Addresses of Holders	  	50
	 SECTION 702.
	  	Preservation of Information; Communications to Holders	  	51
	 SECTION 703.
	  	Reports by Trustee	  	51
	 SECTION 704.
	  	Reports by Company	  	51
		
	ARTICLE VIII        MERGER, CONSOLIDATION, SALE, ASSIGNMENT, TRANSFER, LEASE OR CONVEYANCE	  	52
			
	 SECTION 801.
	  	Guarantor May Merge, Etc., Only on Certain Terms	  	52
	 SECTION 802.
	  	Successor Substituted	  	52
		
	ARTICLE IX        SUPPLEMENTAL INDENTURES	  	53
			
	 SECTION 901.
	  	Supplemental Indentures Without Consent of Holders	  	53
	 SECTION 902.
	  	Supplemental Indentures With Consent of Holders	  	54
	 SECTION 903.
	  	Execution of Supplemental Indentures	  	55
	 SECTION 904.
	  	Effect of Supplemental Indentures	  	55
	 SECTION 905.
	  	Conformity with Trust Indenture Act	  	55
	 SECTION 906.
	  	Reference in Securities to Supplemental Indentures	  	55
		
	ARTICLE X        COVENANTS	  	56
			
	 SECTION 1001.
	  	Payment of Principal, Premium and Interest	  	56
	 SECTION 1002.
	  	Maintenance of Office or Agency	  	56
	 SECTION 1003.
	  	Money for Securities Payments to Be Held in Trust	  	56
	 SECTION 1004.
	  	Statement by Officers as to Default	  	57
	 SECTION 1005.
	  	Existence	  	58
	 SECTION 1006.
	  	Maintenance of Properties	  	58
	 SECTION 1007.
	  	Payment of Taxes and Other Claims	  	58
	 SECTION 1008.
	  	Limitations on Liens	  	58
	 SECTION 1009.
	  	Limitation on Sale and Lease-Back Transactions	  	59
	 SECTION 1010.
	  	Escrow of Proceeds	  	60
	 SECTION 1011.
	  	Waiver of Certain Covenants	  	60
		
	ARTICLE XI        REDEMPTION OF SECURITIES	  	60
			
	 SECTION 1101.
	  	Election to Redeem; Notice to Trustee	  	60
	 SECTION 1102.
	  	Selection by Trustee of Securities to Be Redeemed	  	60
	 SECTION 1103.
	  	Notice of Redemption	  	61
	 SECTION 1104.
	  	Deposit of Redemption Price	  	62
	 SECTION 1105.
	  	Securities Payable on Redemption Date	  	62

  

 -iii- 

					
	 	  	 	  	Page
			
	 SECTION 1106.
	  	Securities Redeemed in Part	  	62
	 SECTION 1107.
	  	Optional Redemption	  	62
	 SECTION 1108.
	  	Repurchase upon Change of Control Triggering Event	  	63
	 SECTION 1109.
	  	Special Mandatory Redemption	  	64
		
	ARTICLE XII        SINKING FUNDS	  	64
			
	 SECTION 1201.
	  	Applicability of Article	  	64
		
	ARTICLE XIII        DEFEASANCE AND COVENANT DEFEASANCE	  	65
			
	 SECTION 1301.
	  	Option to Effect Defeasance or Covenant Defeasance	  	65
	 SECTION 1302.
	  	Defeasance and Discharge	  	65
	 SECTION 1303.
	  	Covenant Defeasance	  	65
	 SECTION 1304.
	  	Conditions to Defeasance or Covenant Defeasance	  	65
	 SECTION 1305.
	  	Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions	  	67
	 SECTION 1306.
	  	Reinstatement	  	68
		
	ARTICLE XIV        GUARANTEE AND INDEMNITY	  	68
			
	 SECTION 1401.
	  	The Guarantee	  	68
	 SECTION 1402.
	  	Guarantee Unconditional, etc.	  	68
	 SECTION 1403.
	  	Reinstatement	  	69
	 SECTION 1404.
	  	Subrogation	  	69
	 SECTION 1405.
	  	Indemnity	  	69
	 SECTION 1406.
	  	Payment of Fees	  	70

  

 -iv- 

 INDENTURE, dated as of March 18, 2010, between CME Group Index Services LLC, a limited
liability company organized and existing under the law of the State of Delaware (herein called the “Company”), having its principal office at 20 South Wacker Drive, Chicago, Illinois 60606 CME Group Inc., a corporation duly organized and
existing under the laws of the State of Delaware (herein called the “Guarantor”), having its principal office at 20 South Wacker Drive, Chicago, Illinois 60606 and U.S. Bank National Association, a nationally chartered banking association,
as Trustee (herein called the “Trustee”). 
 RECITALS 
 Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of (i) the
Company’s 4.40% Senior Notes Due 2018 issued on the date hereof and the guarantee thereof by the Guarantor (the “Securities”). 
 For value received, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of the Notes and the indemnity provided for herein. 
 For value received, the Guarantor has duly authorized the execution and delivery of this Indenture to provide for the issuance of the
Guarantee and the indemnity provided for herein. 
 All things necessary to make this Indenture a valid and legally binding
agreement of the Company and the Guarantor, in accordance with its terms, have been done. 
 NOW, THEREFORE, THIS INDENTURE
WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is
mutually agreed, for the equal and proportionate benefit of all Holders of the Securities thereof, as follows: 
 ARTICLE I

 DEFINITIONS 
 SECTION 101. Definitions. For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as
the singular; 
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or
by reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise
defined herein have the meanings assigned to them in accordance with United States generally accepted accounting principles, the term “generally accepted accounting principles” with respect to any computation required or permitted
hereunder shall mean such accounting principles as are generally accepted as consistently applied by the Guarantor at the date of such computation; 
  

 1 

 (4) unless the context otherwise requires, any reference to an
“Article” or “Section” refers to an Article or a Section, as the case may be, of or to this Indenture; and 
 (5) the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other
subdivision. 
 Certain terms, used principally in Article VI and Article XIII, are defined in those Articles. 
 “144A Global Security” means a Global Security in the form of Exhibit A hereto bearing the Private Placement Legend and deposited
with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount at maturity of the Securities initially sold in reliance on Rule 144A. 
 “Act”, when used with respect to any Holder, has the meaning specified in Section 104. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Applicable Procedures”, with respect to any transfer or exchange of or for beneficial interests in any Global Security, means the
rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange at the relevant time. 
 “Attributable Debt” with regard to a Sale and Lease-Back Transaction with respect to any Principal Property means, at the time of determination, the present value of the total net amount of rent required to be paid under such
lease during the remaining term thereof (including any period for which such lease has been extended), discounted at the rate of interest set forth or implicit in the terms of such lease (or, if not practicable to determine such rate, the weighted
average interest rate per annum borne by the Securities then Outstanding) compounded semi-annually. In the case of any lease which is terminable by the lessee upon the payment of a penalty, such net amount shall be the lesser of (x) the net
amount determined assuming termination upon the first date such lease may be terminated (in which case the net amount shall also include the amount of the penalty, but shall not include any rent that would be required to be paid under such lease
subsequent to the first date upon which it may be so terminated) or (y) the net amount determined assuming no such termination. 
 “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 614 to act on behalf of the Trustee to authenticate the Securities. 
 “Authorized Newspaper” means a newspaper, in the English language or in an official language of the country of publication,
customarily published on each Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in each place in connection with which the term is used or in the financial community of each such place. Where

  

 2 

 
successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same city meeting the foregoing
requirements and in each case on any Business Day. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar
federal or state law for the relief of debtors. 
 “Below Investment Grade Rating Event” means the Securities are
rated below an Investment Grade Rating by each of the Rating Agencies on any date during the period commencing upon the first public notice of the occurrence of a Change of Control or the Guarantor’s intention to effect a Change of Control and
ending 60 days following public notice of the occurrence of the related Change of Control (which 60-day period shall be extended so long as the rating of the Securities is under publicly announced consideration for possible downgrade by any of the
Rating Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a
Below Investment Grade Rating Event for purposes of the definition of Change of Control Triggering Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or
inform the holders of the Securities in writing at their request that the reduction was the result, in whole or in part, of any event or circumstance comprising or arising as a result of, or in respect of, the applicable Change of Control (whether
or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). 
 “Board of Managers” means either the board of managers of the Company or any duly authorized committee of that board of managers. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Managers and to be in full force and
effect on the date of such certification, and delivered to the Trustee. 
 “Business Day” means any calendar day that
is not a Saturday, Sunday or a day on which banking institutions in New York City are authorized or obligated by law or regulation to close. 
 “Capital Stock” means (i) in the case of a corporation or a company, corporate stock or shares; (ii) in the case of an association or business entity, any and all shares, interests,
participations, rights or other equivalents (however designated) of corporate stock; (iii) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and (iv) any other
interest or participation that confers on a person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing person. 
 “Change of Control” means the occurrence of any of the following: 
 (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the
assets of the Guarantor and its Subsidiaries, to any Person or group of related Persons for purposes of Section 13(d) of the Exchange Act (a “Group”) other than the Guarantor or one of its Subsidiaries; 
  

 3 

 (2) the approval by the holders of the Guarantor’s common stock of any
plan or proposal for the Guarantor’s liquidation or dissolution; 
 (3) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any Person or Group becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Guarantor’s
Voting Stock; 
 (4) the first day on which a majority of the members of the Guarantor’s Board of Directors
are not Continuing Directors; or 
 (5) the consummation of any transaction (including, without limitation, any
merger or consolidation) the result of which is that the Guarantor is not the beneficial owner, directly or indirectly, of more than 50% of the then outstanding voting membership interests of the Company. 
 Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (1) the Guarantor becomes a direct or
indirect wholly-owned Subsidiary of a holding company and (2)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Guarantor’s
Voting Stock immediately prior to that transaction or (B) immediately following that transaction no Person or Group (other than a holding company satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly of
more than 50% of the Voting Stock of such holding company. 
 “Change of Control Offer” has the meaning specified in
Section 1107 hereof. 
 “Change of Control Payment” has the meaning specified in Section 1107 hereof.

 “Change of Control Payment Date” has the meaning specified in Section 1107 hereof. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event
occurring in respect of that Change of Control. 
 “Clearinghouse Facility” means that certain Credit Agreement, dated
as of December 9, 2009, among Chicago Mercantile Exchange Inc., each of the banks from time to time party thereto, the Bank of Montreal, administrative agent, and JP Morgan Chase Bank N.A., as collateral agent, as amended, restated,
supplemented, increased, extended, renewed, replaced, refinanced (with the same or other lenders) or otherwise modified from time to time 
 “Clearstream” means Clearstream Banking, société anonyme, Luxembourg, and any successor thereto. 
  

 4 

 “Commission” means the United States Securities and Exchange Commission, from time
to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument the United States Securities and Exchange Commission is not existing and performing the duties now assigned to it under the Trust
Indenture Act, then the body performing such duties at such time. 
 “Company” means the Person named as the
“Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Request” or “Company Order” means a written request or order signed in the name of the Company by its Chief
Executive Officer, its President, a Managing Director, a Director or a Vice President, and by its Chief Financial Officer, Chief Accounting Officer, Treasurer, an Assistant Treasurer, its Controller or an Assistant Controller, its Secretary or an
Assistant Secretary, and delivered to the Trustee. 
 “Comparable Treasury Issue” means the United States Treasury
security selected by a Reference Treasury Dealer as having an actual or interpolated maturity comparable to the remaining term of the Securities called for redemption, 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 comparable maturity to the remaining term of the Securities called for redemption. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, the average, as determined by the Company, of the Reference Treasury Dealer Quotations for that Redemption Date after
excluding the highest and lowest Reference Treasury Dealer Quotation. 
 “Consolidated Net Tangible Assets” means, at
any date, the aggregate amount of assets (less applicable reserves) of the Guarantor and its Significant Subsidiaries after deducting therefrom (a) all goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other
like intangibles and (b) all current liabilities (excluding any current liabilities for money borrowed having a maturity of less than 12 months but by its terms being renewable or extendible beyond 12 months from such date at the option of the
borrower), all as reflected in the Guarantor’s most recent consolidated balance sheet as at the end of the Guarantor’s fiscal quarter ending not more than 135 days prior to such date, prepared in accordance with United States generally
accepted accounting principles. 
 “Continuing Directors” means, as of any date of determination, any member of the
Guarantor’s Board of Directors who (1) was a member of the Guarantor’s Board of Directors on the Issue Date; or (2) was nominated for election, elected or appointed to the Guarantor’s Board of Directors with the approval of
a majority of the Continuing Directors who were members of the Guarantor’s Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the proxy statement issued by the Guarantor in
which such member was named as a nominee for election as a director). 
 “Contribution Agreement” means the
contribution agreement, dated as of February 10, 2010, among News Corporation, Dow Jones & Company, Inc., Dow Jones Trademark Holdings

  

 5 

 
LLC (f/k/a Dingo Smith Trademark Holdings LLC), Board of Trade of the City of Chicago, Inc., CME Index Holdings LLC (f/k/a CIMD Holdings, LLC), the Guarantor and the Company (f/k/a CIMD, LLC).

 “Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust
business shall be administered, which as of the date hereof is located at 209 South LaSalle, Suite 300, Chicago, Illinois 60604, Attn: Corporate Trust Services. 
 “Corporation” means a corporation, association, company, limited liability company, joint-stock company or business trust. 
 “covenant defeasance” has the meaning specified in Section 1303. 
 “Credit Facility” means the $1.4 billion senior credit facility with certain financial institutions and other persons party
thereto as lenders and Bank of America N.A. as agent for such lenders, entered into on August 22, 2008, as amended, restated, supplemented, increased, extended, renewed, replaced, refinanced (with the same or other lenders) or otherwise
modified from time to time. 
 “Custodian” means the Trustee, as custodian with respect to the Global Securities or
any successor entity thereto. 
 “Defaulted Interest” has the meaning specified in Section 308. 
 “Defeasance” has the meaning specified in Section 1302. 
 “Definitive Security” means a certificated Security registered in the name of the Security holder thereof and issued in accordance
with Section 306. 
 “Depositary” means, with respect to the Securities issued or issuable in whole or in part in
the form of one or more Global Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 304, which shall initially be The Depositary Trust Company.

 “Director”, when used with respect to the Company or the Guarantor, means any manager or director, whether or not
designated by a number or a word or words added before or after the title “director”. 
 “Euroclear” means
Euroclear Bank, S.A./N.V., as operator of the Euroclear system, or its successor. 
 “Event of Default” has the
meaning specified in Section 501. 
 “Exchange Act” means the United States Securities Exchange Act of 1934 and
any statute successor thereto, in each case as amended from time to time. 
 “Expiration Date” has the meaning
specified in Section 104. 
  

 6 

 “Global Security” means, individually and collectively, each of the Restricted
Global Securities and the Unrestricted Global Securities. 
 “Government Obligation” has the meaning specified in
Section 1304. 
 “Guarantee” means the unconditional guarantee of the payment of the principal of, any premium or
interest on, the Securities by the Guarantor, as more fully set forth in Article XIV. 
 “Guarantor” means the Person
named as the “Guarantor” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Guarantor” shall mean such successor
Person. 
 “Guarantor’s Board of Directors” means either the board of directors of the Guarantor or any duly
authorized committee of that board of directors. 
 “Guarantor’s Board Resolution” means a copy of a resolution
certified by the Secretary or an Assistant Secretary of the Guarantor to have been duly adopted by the Guarantor’s Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee.

 “Guarantor’s Officers’ Certificate” means a certificate signed by the Chief Executive Officer, the
President, a Managing Director, a Director or a Vice President, and by the Chief Financial Officer, Treasurer, an Assistant Treasurer, Chief Accounting Officer, the Controller or an Assistant Controller, the Secretary or an Assistant Secretary, of
the Guarantor, and delivered to the Trustee. One of the officers signing a Guarantor’s Officers’ Certificate given pursuant to Section 1004 shall be the principal executive, financial or accounting officer of the Guarantor.

 “Guarantor Request” or “Guarantor Order” means a written request or order signed in the name of the
Guarantor by its Chief Executive Officer, its President, a Managing Director, a Director or a Vice President, and by its Chief Financial Officer, Treasurer, an Assistant Treasurer, its Chief Accounting Officer, its Controller or an Assistant
Controller, its Secretary or an Assistant Secretary, and delivered to the Trustee. 
 “Holder” means the Person in
whose name the Security is registered in the Security Register. 
 “Indebtedness” means any indebtedness (whether
being principal, premium, interest or other amounts) for or in respect of any notes, bonds, debentures or other instruments for money borrowed or any borrowed money or any liability under or in respect of any banker’s acceptance (other than a
daylight overdraft). 
 “Indenture” means this instrument as originally executed and as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust
Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively. 
  

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 “Indirect Participant” means any entity that, with respect to DTC, clears through
or maintains a direct or indirect, custodial relationship with a Participant. 
 “Interest Payment Date” means
March 15 and September 15 of each year, beginning September 15, 2010. 
 “Investment Grade Rating”
means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P or the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

 “Issue Date” means March 18, 2010. 
 “Investment Company Act” means the United States Investment Company Act of 1940 and any statute successor thereto, in each case as
amended from time to time. 
 “Lien” means any lien, mortgage, deed of trust, hypothecation, pledge, security
interest, charge or encumbrance of any kind. 
 “Maturity”, when used with respect to any Security, means the date on
which the principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
 “Moody’s” means Moody’s Investors Service, Inc. 
 “Notice of Default” means a written notice of the kind specified in Section 501(4). 
 “Non-U.S. Person” means a Person who is not a U.S. Person. 
 “Officers’ Certificate” means a certificate signed by the Chief Executive Officer, the President, a Managing Director, a
Director or a Vice President, and by the Chief Financial Officer, Treasurer, an Assistant Treasurer, Chief Accounting Officer, the Controller or an Assistant Controller, the Secretary or an Assistant Secretary, of the Company, and delivered to the
Trustee. One of the officers signing an Officers’ Certificate given pursuant to Section 1004 shall be the principal executive, financial or accounting officer of the Company. 
 “Opinion of Counsel” means a written opinion of counsel, which may be an employee of the Guarantor or one of its Subsidiaries.

 “Optional Redemption Price” has the meaning specified in Section 1107 hereof. 
 “Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
 (1) Securities theretofore cancelled by the Trustee
or delivered to the Trustee for cancellation; 
  

 8 

 (2) Securities for whose payment or redemption money in the necessary amount
has been theretofore deposited with the Trustee or any Paying Agent (other than the Company or the Guarantor) in trust or set aside and segregated in trust by the Company or the Guarantor (if the Company or the Guarantor shall act as its own Paying
Agent) for the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 
 (3) Securities, except to the extent provided in Sections 1302 and 1303, with respect to which the Company or the Guarantor
has effected defeasance or covenant defeasance as provided in Article XIII; and 
 (4) Securities that have been
paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the
Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company; 
 provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or taken any request, demand, authorization,
direction, notice, consent, waiver, or other action hereunder as of any date or whether a quorum is present at a meeting of Holders of Securities, Securities owned by the Company or the Guarantor or any Affiliate of the Company or the Guarantor
shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver, or other action, or upon any such
determination as to the presence of a quorum, only Securities that a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned that have been pledged in good faith may be regarded as Outstanding if
the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or the Guarantor or any Affiliate of the Company or the Guarantor. 
 “Participant”, with respect to the Depositary, Euroclear or Clearstream, means a Person who has an account with the Depositary,
Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 
 “Paying
Agent” means any Person authorized by the Company to pay the principal of or any premium or interest on any Securities on behalf of the Company, which shall initially be the Trustee. 
 “Permitted Liens” means: 
 (a) Liens imposed by law or any governmental authority for taxes, assessments, levies or charges that are not yet overdue by more than 60 days or are being contested in good faith (and, if necessary, by
appropriate proceedings) or for commitments that have not been violated; 
  

 9 

 (b) carriers’, warehousemen’s, mechanics’, materialmen’s,
repairmen’s, landlords’ and similar Liens imposed by law or which arise by operation of law and which are incurred in the ordinary course of business or where the validity or amount thereof is being contested in good faith (and, if
necessary, by appropriate proceedings); 
 (c) Liens incurred or pledges or deposits made in compliance with workers’
compensation, unemployment insurance and other social security laws or regulations; 
 (d) Liens incurred or pledges or
deposits made to secure the performance of bids, trade contracts, tenders, leases, statutory obligations, surety, customs and appeal bonds, performance bonds, customer deposits and other obligations of a similar nature, in each case in the ordinary
course of business; 
 (e) judgment Liens in respect of judgments that do not constitute an Event of Default under the
Indenture; 
 (f) Liens securing Indebtedness incurred under the Clearinghouse Facility from time to time; 
 (g) Liens arising in connection with the operations of the Guarantor or any Significant Subsidiary of the Guarantor relating to clearing or
settlement activities; 
 (h) Liens on (1) any property or asset prior to the acquisition thereof, provided that such
Lien may only extend to such property or asset, or (2) property of a Significant Subsidiary of the Guarantor where (A) such Significant Subsidiary of the Guarantor becomes a Subsidiary after March 8, 2010, (B) the Lien exists at
the time such Significant Subsidiary of the Guarantor becomes a Subsidiary, (C) the Lien was not created in contemplation of such Significant Subsidiary of the Guarantor becoming a Subsidiary, and (D) the principal amount secured by the
Lien at the time such Significant Subsidiary of the Guarantor becomes a Subsidiary is not subsequently increased or extended to any other assets other than those owned by the entity becoming a Subsidiary; 
 (i) any Lien existing on March 8, 2010; 
 (j) Liens upon fixed, capital, real and/or tangible personal property acquired after March 8, 2010 (by purchase, construction, development, improvement, capital lease, Synthetic Lease or
otherwise) by the Guarantor or any Significant Subsidiary of the Guarantor, each of which Liens was created for the purpose of securing Indebtedness representing, or incurred to finance, refinance or refund, the cost (including the cost of
construction, development or improvement) of such property; provided that no such Lien shall extend to or cover any property other than the property so acquired and improvements thereon; 
 (k) Liens in favor of the Guarantor or any Subsidiary; 
 (l) Liens arising from the sale of accounts receivable for which fair equivalent value is received; 
  

 10 

 (m) any extension, renewal or replacement (or successive extensions, renewals or
replacements) in whole or in part, of any Liens referred to in the foregoing clauses (f), (g), (h), (i), (j), (k) and (l); provided that the principal amount of Indebtedness secured thereby and not otherwise authorized as a Permitted Lien shall
not exceed the principal amount of Indebtedness, plus any premium or fee payable in connection with any such extension, renewal or replacement, so secured at the time of such extension, renewal or replacement; 
 (n) Liens securing obligations of the Guarantor or any Subsidiary in respect of any swap agreements entered into (1) in the
ordinary course of business and for non-speculative purposes or (2) solely in order to serve as a clearinghouse in respect thereof; 
 (o) easements, zoning restrictions, minor title defects, irregularities or imperfections, restrictions on use, rights of way, leases, subleases and similar charges and other similar encumbrances on
real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations (other than customary maintenance requirements) and which could not reasonably be expected to have a material adverse effect on
the business or financial condition of the Guarantor and its Subsidiaries taken as a whole; 
 (p) Liens created in
connection with any share repurchase program in favor of any broker, dealer, custodian, trustee and/or agent administering or effecting transactions pursuant to a share repurchase program; 
 (q) Liens on (1) the land, improvements, fixtures and three buildings located at 141 West Jackson Boulevard in Chicago, consisting
of a total of approximately 1,500,000 square feet, and (2) the land, improvements, buildings and fixtures located at One North End Ave, New York, New York 10282; and 
 (r) Liens consisting of an agreement to sell, transfer or dispose of any asset or property (to the extent such sale, transfer or disposition is not prohibited by Article VIII). 
 “Person” means any individual, firm, corporation, partnership, association, joint venture, tribunal, trust, government or
political subdivision or agency or instrumentality thereof, or any other entity or organization and includes a “person” as used in Section 13(d)(3) of the Exchange Act. 
 “Place of Payment”, when used with respect to the Securities, means the place or places where the principal of and any premium and
interest on the Securities are payable. 
 “Predecessor Security” of any particular Security means every previous
Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated,
destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Principal Property” means the land, improvements, buildings and fixtures (including any leasehold interest therein) constituting a corporate office, facility or other capital asset within the United States (including its
territories and possessions) which is owned or leased by the Company, the Guarantor or any of its Significant Subsidiaries unless the Guarantor’s Board of

  

 11 

 
Directors has determined in good faith that such office or facility is not of material importance to the total business conducted by the Guarantor and its Significant Subsidiaries taken as a
whole; provided that with respect to any Sale and Lease-Back Transaction or series of related Sale and Lease-Back Transactions, the determination of whether any property is a Principal Property shall be determined by reference to all
properties affected by such transaction or series of transactions. 
 “Private Placement Legend” means the legend set
forth in Section 306(f)(i) to be placed on all Securities issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 
 “Rating Agencies” means (1) each of Moody’s and S&P; and (2) if any of Moody’s or S&P ceases to rate the Securities or fails to make a rating of the Securities
publicly available for reasons outside of the Company’s’s control, a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c) (2)(vi)(F) under the Exchange Act, that the Company selects
(as certified in an Officers’ Certificate) as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 
 “Redemption Date”, when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price”, when used with respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant
to this Indenture. 
 “Reference Treasury Dealer” means each of Barclays Capital Inc., Banc of America Securities LLC
and UBS Securities LLC and two other primary U.S. Government securities dealers selected by the Company, and each of their respective successors; provided that if any one shall cease to be a primary U.S. Government securities dealer, the
Company will substitute another nationally recognized investment banking firm that is a primary U.S. Government securities dealer. 
 “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Company, 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 Company by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding that Redemption Date. 
 “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities means the date specified in Exhibit
A. 
 “Remaining Scheduled Payments” means the remaining scheduled payments of principal of, and interest on, the
Securities called for redemption that would be due after the related Redemption Date but for that redemption; provided that if that Redemption Date is not an Interest Payment Date with respect to the Securities called for redemption, the
amount of the next succeeding scheduled interest payment on such Securities will be reduced by the amount of interest accrued to such Redemption Date. 
  

 12 

 “Responsible Officer”, when used with respect to the Trustee, means any vice
president, the treasurer, any assistant treasurer, any trust officer or assistant trust officer, the controller or any assistant controller or any other officer of the Trustee customarily performing functions similar to those performed by any of the
above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject and who shall have
responsibility for the administration of this Indenture. 
 “Regulation S” means Regulation S promulgated under the
Securities Act. 
 “Regulation S Global Security” means a Global Security in the form of Exhibit A hereto bearing the
Private Placement Legend and the Regulation S Legend deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount at maturity of the Securities
initially sold in reliance on Rule 903 of Regulation S. 
 “Restricted Definitive Security”, means a Definitive
Security bearing the Private Placement Legend. 
 “Restricted Global Security” means a Global Security bearing the
Private Placement Legend. 
 “Restricted Period” means the 40 day restricted period as defined in Regulation S.

 “Rule 144” means Rule 144 promulgated under the Securities Act. “Rule 144A” means Rule 144A promulgated
under the Securities Act. 
 “Rule 903” means Rule 903 promulgated under the Securities Act. 
 “Rule 904” means Rule 904 promulgated the Securities Act. 
 “S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc. 
 “Sale and Lease-Back Transaction” means any arrangement with any person providing for the leasing by the Guarantor or any of its
Significant Subsidiaries of any Principal Property, whether now owned or hereafter acquired, which Principal Property has been or is to be sold or transferred by the Guarantor or such Significant Subsidiary of the Guarantor to such person.

 “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any
Securities authenticated and delivered under this Indenture. 
 “Securities Act” means the United States Securities
Act of 1933 and any statute successor thereto, in each case as amended from time to time. 
  

 13 

 “Security Register” and “Security Registrar” have the respective
meanings specified in Section 305. 
 “Significant Subsidiary,” with respect to any person, means any Subsidiary
of such person that satisfies the criteria for a “significant subsidiary” set forth in Rule 1-02(w) of Regulation S-X under the Exchange Act. 
 “Special Mandatory Redemption Date” means the date 15 calendar days, or the next Business Day if such date is not a Business Day, following the earlier to occur of (1) July 1, 2010 if
the transactions contemplated by the Contribution Agreement have not been consummated on or prior to such date or (2) the date, if any, that the Contribution Agreement is terminated. 
 “Special Mandatory Redemption Price” means 101% of the aggregate principal amount of the Securities together with accrued and
unpaid interest, if any, from the date of initial issuance to, but not including, the Special Mandatory Redemption Date. 
 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 308. 
 “Stated Maturity”, when used with respect to any Security or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the
principal of such Security or such installment of principal or interest is due and payable. 
 “Subsidiary” means any
corporation, limited liability company or other similar type of business entity in which the Company or the Guarantor and/or one or more of their Subsidiaries together own more than 50% of the total voting power of shares of Capital Stock entitled
(without regard to the occurrence of any contingency) to vote in the election of the board of directors or similar governing body of such corporation, limited liability company or other similar type of business entity, directly or indirectly.

 “Synthetic Lease” means any tax retention or other synthetic lease which is treated as an operating lease under
United States generally accepted accounting principles, but the liabilities under which are or would be characterized as indebtedness for tax purposes. 
 “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity (computed as of the third Business Day immediately preceding
that Redemption Date) 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 that Redemption Date. 
 “Trust Indenture Act” means the United States Trust Indenture Act of 1939 as in force at the date as of which this instrument was
executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended.

 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a
successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder. 
  

 14 

 “United States Alien” means any Person who, for United States Federal income tax
purposes, is a foreign corporation, a non-resident alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for United States Federal income tax purposes, a
foreign corporation, a non-resident alien individual or a non-resident alien fiduciary of a foreign estate or trust. 
 “U.S. Person” means a U.S. person as defined in Rule 902(k) under the Securities Act. 
 “Unrestricted
Definitive Security” means on or more Definitive Securities that do not bear and are not required to bear the Private Placement Legend. 
 “Unrestricted Global Security” means a Global Security that does not bear and is not required to bear the Private Placement Legend. 
 “Vice President”, when used with respect to the Company, the Guarantor or the Trustee, means any vice president, whether or not
designated by a number or a word or words added before or after the title “vice president”. 
 “Voting
Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled to vote generally in the election of the board of directors of such Person. 
 SECTION 102. Compliance Certificates and Opinions. 
 Upon any application or request by the Company or the Guarantor to the Trustee to take any action under any provision of this Indenture, the Company or the Guarantor, as the case may be, shall furnish to
the Trustee such certificates and opinions as may be required under the Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officers’ Certificate or Guarantor’s Officers’ Certificate, if to be given
by an officer of the Company or the Guarantor, as the case may be, or an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture.

 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (except
for certificates provided for in Section 1004) shall include, 
 (1) a statement that each individual
signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
  

 15 

 (3) a statement that, in the opinion of each such individual, he has made
such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with.

 SECTION 103. Form of Documents Delivered to Trustee. 
 In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion
of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may
certify or give an opinion as to such matters in one or several documents. 
 Any certificate or opinion of an officer of the
Company or the Guarantor may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or
opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of,
or representations by, an officer or officers of the Company or the Guarantor stating that the information with respect to such factual matters is in the possession of the Company or the Guarantor, as the case may be, unless such counsel knows, or
in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be
consolidated and form one instrument. 
 SECTION 104. Acts of Holders; Record Dates. 
 Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given,
made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing. Except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company or the Guarantor. Such instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and (subject to Section 601) conclusive in favor of the Trustee, the Company and the Guarantor, if made in the manner provided in this Section. 
 The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer
authorized by law to take acknowledgments of deeds, certifying that the individual

  

 16 

 
signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or
affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee
deems sufficient. 
 The principal amount and serial numbers of Securities held by any Person, and the date of holding the same,
shall be proved by the Security Register. 
 Any request, demand, authorization, direction, notice, consent, waiver or other Act
of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or
suffered to be done by the Trustee, the Guarantor or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
 The Company may set any day as a record date for the purpose of determining the Holders of Outstanding Securities entitled to give, make or take any request, demand, authorization, direction, notice,
consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of the Securities, provided, that the Company may not set a record date for, and the provisions of this paragraph shall not apply with
respect to, the giving or making of any notice, declaration, request or direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities on such record date, and no other
Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after such record date; provided, that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by
Holders of the requisite principal amount of Outstanding Securities on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been
set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by
Holders of the requisite principal amount of Outstanding Securities on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the
proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities in the manner set forth in Section 106. 
 The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities entitled to join in the
giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to institute proceedings referred to in Section 507(2) or (iv) any direction referred to
in Section 512, in each case with respect to the Securities. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities on such record date, and no other Holders, shall be entitled to join in such notice,
declaration, request or direction, whether or not such Holders remain Holders after such record date; provided, that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite
principal amount of Outstanding Securities on such record date. Nothing in this paragraph shall be construed to

  

 17 

 
prevent the Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall
automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities on the date
such action is taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given
to the Company in writing and to each Holder of Securities in the manner set forth in Section 106. 
 With respect to any
record date set pursuant to this Section, the party hereto that sets such record date may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such
change shall be effective unless notice of the proposed new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities in the manner set forth in Section 106, on or prior to the existing Expiration Date. If
an Expiration Date is not designated with respect to any record date set pursuant to this Section, the party hereto that set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration Date
with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. 
 Without limiting the
foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do
so pursuant to such appointment with regard to all or any part of such principal amount. 
 SECTION 105. Notices, Etc., to Trustee, the
Company and the Guarantor. 
 Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or
other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 
 (1) the Trustee by any Holder, by the Company or by the Guarantor shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing (which may be via facsimile) to or with the Trustee at its Corporate Trust
Office, Attention: Corporate Trust Services, or 
 (2) the Company or the Guarantor by the Trustee or by any
Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company or the Guarantor, as the case may be, addressed to it at the address of its
principal office specified in the first paragraph of this instrument, Attention: General Counsel, with a copy to the same address, Attention: Chief Financial Officer and with a copy to the same address, Attention: Treasurer, or at any other address
previously furnished in writing to the Trustee by the Company or the Guarantor, as the case may be. 
  

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 SECTION 106. Notice to Holders; Waiver. 
 Except as otherwise expressly provided herein, where this Indenture provides for notice of any event to Holders of Securities, such notice
shall be sufficiently given to Holders of Securities if in writing and mailed, first-class postage prepaid, to each Holder of a Security affected by such event, at the address of such Holder as it appears in the Security Register, not later than the
latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. 
 In case by
reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice to Holders of Securities by mail, then such notification as shall be made with the approval of the Trustee shall
constitute a sufficient notification for every purpose hereunder. In any case where notice to Holders of Securities is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder of a
Security shall affect the sufficiency of such notice with respect to other Holders. 
 Where this Indenture provides for notice
in any manner, such notice may be waived in writing by the Person entitled to receive such notice either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders of Securities shall be filed
with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 SECTION 107. Conflict with Trust Indenture Act. 
 This Indenture shall incorporate and be governed by the
provisions of the Trust Indenture Act that are required to be part of and to govern indentures qualified under the Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is
required under the Trust Indenture Act to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or
excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 
 SECTION
108. Effect of Headings and Table of Contents. 
 The Article and Section headings herein and the Table of Contents are
for convenience only and shall not affect the construction hereof. 
 SECTION 109. Successors and Assigns. 
 All covenants and agreements in this Indenture by the Company or the Guarantor shall bind their respective successors and assigns, whether
so expressed or not. 
 SECTION 110. Separability Clause. 
 In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
  

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 SECTION 111. Benefits of Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their
successors hereunder, and the Holders of Securities, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 SECTION 112. Governing Law. 
 This Indenture and the Securities shall be governed by and construed in
accordance with the law of the State of New York. 
 SECTION 113. Legal Holidays. 
 In any case where any Interest Payment Date, Redemption Date, sinking fund payment date, Stated Maturity or Maturity of any Security shall
not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically states that such provision shall apply in lieu of this
Section)) payment of interest or principal (and premium, if any) need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the
Interest Payment Date, Redemption Date or sinking fund payment date or at the Stated Maturity or Maturity, as the case may be. 
 SECTION
114. Language of Notices, Etc. 
 Any request, demand, authorization, direction, notice, consent or waiver required or
permitted under this Indenture shall be in the English language, except that any published notice may be in an official language of the country of publication. 
 SECTION 115. Submission to Jurisdiction. 
 The Company and the Guarantor
irrevocably submit to the non-exclusive jurisdiction of any federal or state court in the City, County and State of New York and any appellate court from any thereof, in any legal suit, action or proceeding based on or arising under the Securities
or this Indenture and agrees that all claims in respect of such suit or proceeding may be determined in any such court. The Company and the Guarantor irrevocably waive, to the fullest extent permitted by law, any objection to any such suit, action
or proceeding in such courts, whether on the grounds of venue, residence or domicile or the defense of an inconvenient forum or objections to personal jurisdiction with respect to the maintenance of such legal suit, action or proceeding. The Company
and the Guarantor agree that the final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company or the Guarantor, as the case may be, and may be enforced in any court to the jurisdiction
of which the Company or the Guarantor, as the case may be, is subject by a suit upon such judgment. 
 ARTICLE II

 SECURITY FORMS 
 SECTION 201. General. 
 The Securities and the Trustee’s certificate of authentication shall be
substantially in the form of Exhibit A hereto. The Securities may have notations, legends or endorsements required

  

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by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication. The Securities shall be in minimum denominations of $2,000 and integral multiples of $1,000 in
excess thereof. 
 The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part
of this Indenture and the Company, the Guarantor and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Security conflicts
with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 SECTION 202. Global
Securities. 
 Securities issued in global form shall be substantially in the form of Exhibit A attached hereto (including
the Global Security Legend thereon and the “Schedule of Exchanges of Interests in the Global Security” attached thereto). Securities issued in definitive form shall be substantially in the form of Exhibit A attached hereto (but without the
Global Security Legend thereon and without the “Schedule of Exchanges of Interests in the Global Security” attached thereto). 
 Each Global Security shall represent such of the Outstanding Securities as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of Outstanding
Securities from time to time endorsed thereon and that the aggregate principal amount of Outstanding Securities represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, redemptions, repurchases and
transfers of interests. Any endorsement of a Global Security to reflect the amount of any increase or decrease in the aggregate principal amount of Outstanding Securities represented thereby shall be made by the Trustee or the Custodian, at the
direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 306 hereof. 
 SECTION 203.
Euroclear and Clearstream Procedures Applicable. 
 The provisions of the “Operating Procedures of the Euroclear
System” and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream” and “Customer Handbook” of Clearstream, as amended, or any successor publications thereto, shall
be applicable to transfers of beneficial interests in Global Securities that are held by Participants through Euroclear or Clearstream. 
  

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 ARTICLE III 
 THE SECURITIES 
 SECTION 301. Intentionally Left Blank.

 SECTION 302. Intentionally Left Blank.  
 SECTION 303. Execution, Authentication, Delivery and Dating. 
 The
Securities shall be executed on behalf of the Company by its Chief Executive Officer, its President, its Chief Financial Officer, its Chief Accounting Officer, one of its Managing Directors, one of its Directors or one of its Vice Presidents, under
its corporate seal reproduced thereon attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile. 
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the
Company and the Guarantor, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
 On the Issue Date, the Trustee shall, upon receipt of a Company Order, authenticate and deliver the Securities. In authenticating such
Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of
Counsel stating that such Securities when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of
the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general
equity principles. 
 The Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant
to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 
 Each Security shall be dated the date of its authentication. 
 No Security shall be entitled to any benefit under this Indenture or the Guarantee or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication
substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered
hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in
Section 310, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture and the Guarantee. 
 SECTION 304. Temporary Securities. 
 Pending the preparation of definitive Securities, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise
produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such
Securities may determine, as evidenced by their execution of such Securities. 
  

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 If temporary Securities are issued, the Company will cause definitive Securities to be
prepared without unreasonable delay. After the preparation of definitive Securities, the temporary Securities shall be exchangeable for definitive Securities upon surrender of the temporary Securities at the office or agency of the Company in a
Place of Payment, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities,
of any authorized denominations and like aggregate principal amount and tenor. 
 Until exchanged in full as hereinafter
provided, the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of like tenor authenticated and delivered hereunder. 
 SECTION 305. Registration, Registration of Transfer and Exchange. 
 The Company shall cause to be kept at an office or agency to be maintained by the Company in accordance with Section 1002 a register (being the combined register of the Security Registrar and all
transfer agents designated pursuant to Section 1002 for the purpose of registration of transfer of Securities and sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it
may prescribe, the Company shall provide for the registration of Securities and the registration of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of
Securities as herein provided. 
 Upon surrender for registration of transfer of any Security at the office or agency of the
Company maintained pursuant to Section 1002 for such purpose in a Place of Payment, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities,
of any authorized denominations and of like tenor and aggregate principal amount. 
 At the option of the Holder, Securities may
be exchanged for other Securities, of any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange,
the Company shall execute, and the Trustee shall authenticate and deliver, the Securities that the Holder making the exchange is entitled to receive. 
 All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company and the Guarantor, respectively, evidencing the same debt, and entitled to
the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 
 Every
Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee or any transfer agent) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to
the Company and the Security Registrar or any transfer agent duly executed, by the Holder thereof or his attorney duly authorized in writing. 
  

 23 

 No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304,
906 or 1106 not involving any transfer. 
 If the Securities are to be redeemed in part, the Company shall not be required
(A) to issue, register the transfer of or exchange any Securities during a period beginning at the opening of business 15 days before any selection of Securities to be redeemed and ending at the close of business on the day of the mailing of
the relevant notice of redemption or (B) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Global Securities.

 The Company initially appoints the Trustee as Registrar and Paying Agent and to act as Custodian with respect to the Global
Securities. The Company may change the Paying Agent or Registrar without prior notice to the Holders. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
 SECTION 306. Transfer and Exchange of Global Securities. 
 (a) A Global
Security may not be transferred as a whole except by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor
Depositary or a nominee of such successor Depositary. All Global Securities shall be exchanged (or exchangeable, in the case of an Event of Default covered by clause (iii) below) by the Company for Definitive Securities if (i) DTC
(A) notifies the Company that it is unwilling or unable to continue as Depositary for the Global Securities and the Company fails to appoint a successor Depositary within 90 days after receiving such notice or that it has ceased to be a
clearing agency registered under the Exchange Act and the Company fails to appoint a successor Depositary within 90 days after becoming aware of such condition; (ii) the Company, at its option, notifies the Trustee in writing that it elects to
cause the issuance of Definitive Securities; or (iii) there shall have occurred and be continuing an Event of Default with respect to the Securities. Upon the occurrence of any of the preceding events in (i), (ii) or (iii) above,
Definitive Securities delivered in exchange for any Global Security or beneficial interests therein will be registered in the names, and issued in any approved denominations, requested by or on behalf of the Depositary (in accordance with its
customary procedures). Global Securities also may be exchanged or replaced, in whole or in part, as provided in Sections 304 and 307 hereof. Every Security authenticated and delivered in exchange for, or in lieu of, a Global Security or any portion
thereof, pursuant to this Section 306 or Section 304 or 307 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Security, except for Definitive Securities issued subsequent to any of the preceding events in
(i), (ii) or (iii) above and pursuant to Section 306(c)

  

 24 

 
or (e) hereof. A Global Security may not be exchanged for another Security other than as provided in this Section 306(a); however, beneficial interests in a Global Security may be
transferred and exchanged as provided in Section 306(b) or (c) hereof. 
 (b) Transfer and Exchange of Beneficial
Interests in the Global Securities. The transfer and exchange of beneficial interests in the Global Securities shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures.
Beneficial interests in the Restricted Global Securities shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Securities also
shall require compliance with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 
 (i) Transfer of Beneficial Interests in the Same Global Security. Beneficial interests in any Restricted Global
Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Security in accordance with the transfer restrictions set forth in the Private Placement Legend and any Applicable
Procedures; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in the Regulation S Global Security may not be made to a U.S. Person or for the account or benefit of a U.S. Person (other than
the Initial Purchasers). Beneficial interests in any Unrestricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security. Except as may be required by any
Applicable Procedures, no written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 306(b)(i). 
 (ii) All Other Transfers and Exchanges of Beneficial Interests in Global Securities. In connection with all transfers and
exchanges of beneficial interests that are not subject to Section 306(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar either (A) both (1) a written order from a Participant or an Indirect
Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be
transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B) both (1) if permitted under
Section 306(a), a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Security in an amount equal to the
beneficial interest to be transferred or exchanged and (2) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Security shall be registered to effect the transfer or
exchange referred to in (1) above. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Securities contained in this Indenture and the Securities or otherwise applicable under the Securities
Act, the Trustee shall adjust the principal amount at maturity of the relevant Global Securities pursuant to Section 306(g) hereof. 
  

 25 

 (iii) Transfer of Beneficial Interests to Another Restricted Global
Security. A beneficial interest in any Restricted Global Security may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Security if the transfer complies with the requirements
of Section 306(b)(ii) above and the Registrar receives a completed certificate in the form of Exhibit B hereto. 
 (iv) Transfer and Exchange of Beneficial Interests in a Restricted Global Security for Beneficial Interests in an Unrestricted Global Security. A beneficial interest in any Restricted Global Security may be exchanged by any Holder
thereof for a beneficial interest in an Unrestricted Global Security or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security if the exchange or transfer complies with the
requirements of Section 306(b)(ii) above and the Registrar receives a completed certificate from such Holder in the form of Exhibit B or Exhibit C, and an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such
exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 If any such transfer is effected at a time when an Unrestricted Global Security has not yet been issued, the Company shall issue and, upon
receipt of a Company Order in accordance with Section 303, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of beneficial interests so
transferred. Beneficial interests in an Unrestricted Global Security cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Security. 
 (c) Transfer or Exchange of Beneficial Interests for Definitive Securities. 
 (i) Beneficial Interests in Restricted Global Securities to Restricted Definitive Securities. Subject to
Section 306(a) hereof, if any Holder of a beneficial interest in a Restricted Global Security proposes to exchange such beneficial interest for a Restricted Definitive Security or to transfer such beneficial interest to a Person who takes
delivery thereof in the form of a Restricted Definitive Security, then, upon receipt by the Registrar of a completed certificate from such Holder in the form of Exhibit B or Exhibit C hereto, as applicable, and certificates and Opinions of Counsel,
if applicable, the Trustee shall cause the aggregate principal amount of the applicable Global Security to be reduced accordingly pursuant to Section 306(g) hereof, and the Company shall execute and, upon receipt of an Company Order in
accordance with Section 303 hereof, the Trustee shall authenticate and deliver a Restricted Definitive Security in the appropriate principal amount to the Person designated by the Holder of such beneficial interest in the instructions delivered
to the Registrar by the Depositary and the applicable Participant or Indirect Participant on behalf of such Holder. Any Restricted Definitive Security issued in exchange for a beneficial interest in a Restricted Global Security pursuant to this
Section 306(c)(i) shall be registered in such name or names and in such authorized denomination or denominations as the Holder of such beneficial interest shall designate in such instructions. The Trustee shall deliver such Restricted
Definitive Securities to the Persons in whose names such Securities are so registered. Any Restricted Definitive

  

 26 

 
Security issued in exchange for a beneficial interest in a Restricted Global Security pursuant to this Section 306(c)(i) shall bear the Private Placement Legend and shall be subject to all
restrictions on transfer contained therein. 
 (ii) Beneficial Interests in Restricted Global Securities to
Unrestricted Definitive Securities. Subject to Section 306(a) hereof, a Holder of a beneficial interest in a Restricted Global Security may exchange such beneficial interest for an Unrestricted Definitive Security or may transfer such
beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security only if the Registrar receives a completed certificate from such Holder in the form of Exhibit B or Exhibit C hereto, as applicable, and an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of any of the
conditions of this Section 306(c)(ii), the Company shall execute and, upon receipt of an Company Order in accordance with Section 303 hereof, the Trustee shall authenticate and deliver an Unrestricted Definitive Security in the appropriate
principal amount to the Person designated by the holder of such beneficial interest in instructions delivered to the Registrar by the Depositary and the applicable Participant or Indirect Participant on behalf of such holder, and the Trustee shall
reduce or cause to be reduced in a corresponding amount pursuant to Section 306(g), the aggregate principal amount of the applicable Restricted Global Security. 
 (iii) Beneficial Interests in Unrestricted Global Securities to Unrestricted Definitive Securities. Subject to
Section 306(a) hereof, if any Holder of a beneficial interest in an Unrestricted Global Security proposes to exchange such beneficial interest for an Unrestricted Definitive Security or to transfer such beneficial interest to a Person who takes
delivery thereof in the form of an Unrestricted Definitive Security, then, upon satisfaction of the applicable conditions set forth in Section 306(b)(ii) hereof, the Trustee shall cause the aggregate principal amount of the applicable
Unrestricted Global Security to be reduced accordingly pursuant to Section 306(g) hereof, and the Company shall execute, and, upon receipt of an Company Order in accordance with Section 303 hereof, the Trustee shall authenticate and
deliver an Unrestricted Definitive Security in the appropriate principal amount to the Person designated by the Holder of such beneficial interest in instructions delivered to the Registrar by the Depositary and the applicable Participant or
Indirect Participant on behalf of such Holder. Any Unrestricted Definitive Security issued in exchange for a beneficial interest pursuant to this Section 306 (c)(iii) shall be registered in such name or names and in such authorized denomination
or denominations as the Holder of such beneficial interest shall designate in such instructions. The Trustee shall deliver such Unrestricted Definitive Securities to the Persons in whose names such Securities are so registered. Any Unrestricted
Definitive Security issued in exchange for a beneficial interest pursuant to this Section 306(c)(iii) shall not bear the Private Placement Legend. 
  

 27 

 (d) Transfer and Exchange of Definitive Securities for Beneficial Interests.

 (i) Restricted Definitive Securities to Beneficial Interests in Restricted Global Securities. If any
Holder of a Restricted Definitive Security proposes to exchange such Restricted Definitive Security for a beneficial interest in a Restricted Global Security or to transfer such Restricted Definitive Securities to a Person who takes delivery thereof
in the form of a beneficial interest in a Restricted Global Security, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted Definitive Security proposes to exchange such Restricted Definitive Security for a beneficial interest in a Restricted Global Security, a completed certificate from
such Holder in the form of Exhibit C hereto; 
 (B) if such Restricted Definitive Security is being transferred
to a QIB in accordance with Rule 144A under the Securities Act, a completed certificate to the effect set forth in Exhibit B hereto; or 
 (C) if such Restricted Definitive Security is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 under the Securities Act, a completed certificate to
the effect set forth in Exhibit B hereto; the Trustee shall cancel the Restricted Definitive Security, and increase or cause to be increased in a corresponding amount pursuant to Section 306(g) hereof, the aggregate principal amount of, in the
case of clause (A) above, the appropriate Restricted Global Security, in the case of clause (B) above, the 144A Global Security, in the case of clause (C) above, the Regulation S Global Security. 
 (ii) Restricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities. A Holder of a
Restricted Definitive Security may exchange such Restricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Restricted Definitive Security to a Person who takes delivery thereof in the form of a
beneficial interest in an Unrestricted Global Security only if the Registrar receives a completed certificate from such Holder in the form of Exhibit B or Exhibit C, as applicable, and an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with
the Securities Act. 
 Upon satisfaction of the conditions in this Section 306(d)(ii), the Trustee shall
cancel such Restricted Definitive Securities and increase or cause to be increased in a corresponding amount pursuant to Section 306(g) hereof, the aggregate principal amount of the Unrestricted Global Security. 
 (iii) Unrestricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities. A Holder of an
Unrestricted Definitive Security may exchange such Unrestricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Unrestricted Definitive Securities to a Person who takes delivery thereof in the form
of a beneficial interest in an Unrestricted Global Security at any time.

  

 28 

 
Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Security and increase or cause to be increased in a corresponding
amount pursuant to Section 306(g) hereof, the aggregate principal amount of one of the Unrestricted Global Securities. 
 An Unrestricted Definitive Security may not be exchanged for, or transferred to Persons who take delivery thereof in the form of, beneficial interests in a Restricted Global Security. 
 If any such exchange or transfer from a Definitive Security to a beneficial interest in an Unrestricted Global Security is effected pursuant
to subparagraphs (ii) or (iii) above at a time when an Unrestricted Global Security has not yet been issued, the Company shall issue and, upon receipt of an Company Order in accordance with Section 303 hereof, the Trustee shall
authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the principal amount of Definitive Securities so transferred. 
 (e) Transfer and Exchange of Definitive Securities for Definitive Securities. Upon request by a Holder of Definitive Securities and such Holder’s compliance with the provisions of this
Section 306(e), the Registrar shall register the transfer or exchange of Definitive Securities. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Securities duly
endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional
certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 306(e). 
 (i) Restricted Definitive Securities to Restricted Definitive Securities. Any Restricted Definitive Security may be transferred to and registered in the name of Persons who take delivery thereof in
the form of a Restricted Definitive Security if the Registrar receives a completed certificate in the form of Exhibit B, including the certifications and certificates required by item (3) thereof, if applicable. 
 (ii) Restricted Definitive Securities to Unrestricted Definitive Securities. Any Restricted Definitive Security may be
exchanged by the Holder thereof for an Unrestricted Definitive Security or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Security if the Registrar receives a completed certificate from such
Holder in the form of Exhibit B or Exhibit C, as applicable, and an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of the conditions of this Section 306(e)(ii), the Trustee shall cancel the prior Restricted Definitive Security and the Company shall execute, and upon receipt of an Company Order
in accordance with Section 303 hereof, the Trustee shall authenticate and deliver an Unrestricted Definitive Security in the appropriate aggregate principal amount to the Person designated by the Holder of such prior Restricted Definitive
Security in instructions delivered to the Registrar by such Holder. 
  

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 (iii) Unrestricted Definitive Securities to Unrestricted Definitive
Securities. A Holder of Unrestricted Definitive Securities may transfer such Unrestricted Definitive Securities to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security. Upon receipt of a request to register such
a transfer, the Registrar shall register the Unrestricted Definitive Securities pursuant to the instructions from the Holder thereof. 
 (f) Legends. The following legends shall appear on the face of all Global Securities and Definitive Securities issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture.

 (i) Private Placement Legend. Except as permitted below, each Global Security and each Definitive
Security (and all Securities issued in exchange therefor or substitution thereof) shall bear a legend in substantially the following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY OTHER SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
AGREES THAT THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) TO CME GROUP INDEX SERVICES LLC (THE “ISSUER”) OR ANY OF ITS SUBSIDIARIES, (II) SO LONG AS THIS
SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A) IN ACCORDANCE WITH RULE 144A, (III)
IN AN OFFSHORE TRANSACTION TO A NON-U.S. PERSON IN ACCORDANCE WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (IV) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT (IF AVAILABLE) OR (V) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, AND IN EACH OF SUCH CASES IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR OTHER APPLICABLE JURISDICTION. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
REPRESENTS AND AGREES THAT IT WILL NOTIFY ANY PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO ABOVE. THE FOREGOING LEGEND MAY BE REMOVED FROM THIS SECURITY ONLY WITH THE CONSENT OF THE ISSUER. 
 Notwithstanding the foregoing, any Global Security or Definitive Security issued pursuant to subparagraph (b)(iv), (c)(ii), (c) (iii),
(d)(ii), (d)(iii), (e)(ii) or (e)(iii) of this Section 306 (and all Securities issued in exchange therefor or substitution thereof) shall not bear the Private Placement Legend. 
  

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 (ii) Global Security Legend. Each Global Security shall bear a legend
in substantially the following form: 
 THIS GLOBAL SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 306 OF THE INDENTURE, (II) THIS GLOBAL SECURITY MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 306(a) OF THE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 310 OF THE
INDENTURE AND (IV) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. 
 (iii) Regulation S Global Security Legend. The Regulation S Global Security shall bear a legend in substantially the following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY OTHER
SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, AGREES THAT NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH
TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 
 THE FOREGOING LEGEND MAY BE REMOVED FROM THIS SECURITY AFTER
40 DAYS BEGINNING ON AND INCLUDING THE LATER OF (A) THE DAY ON WHICH THE SECURITIES ARE OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) AND (B) THE ORIGINAL ISSUE DATE OF THIS SECURITY.

 (g) Cancellation and/or Adjustment of Global Securities. At such time as all beneficial interests in a particular
Global Security have been exchanged for a Definitive Security or a particular Global Security has been redeemed, repurchased or cancelled in whole and not in part, each such Global Security shall be returned to or retained and cancelled by the
Trustee in accordance with Section 310. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in
another Global Security or for Definitive Securities, the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement may be made on such Global Security by the Trustee or by the Depositary at
the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other
Global Security shall be increased accordingly and an endorsement may be made on such Global Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 
  

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 (h) General Provisions Relating to Transfers and Exchanges. 
 (i) To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Global
Securities and Definitive Securities upon receipt of an Company Order in accordance with Section 303 hereof or at the Registrar’s request. 
 (ii) No service charge shall be made to a Holder of a beneficial interest in a Global Security or to a Holder of a Definitive Security for any registration of transfer or exchange, but the Company may
require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections
304, 307, 906, 1106 and 1108 hereof). 
 (iii) The Registrar shall not be required to register the transfer of or
exchange any Security selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 (iv) All Global Securities and Definitive Securities issued upon any registration of transfer or exchange of Global Securities or Definitive Securities shall be the valid and legally binding obligations
of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Securities or Definitive Securities surrendered upon such registration of transfer or exchange. 
 (v) The Company and the Registrar shall not be required (A) to issue, to register the transfer of or to exchange any
Securities during a period beginning at the opening of business 15 days before the day of any selection of Securities for redemption under Section 1102 hereof and ending at the close of business on the day of selection, (B) to register the
transfer of or to exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part, (C) to register the transfer of or to exchange a Security between a record date and
the next succeeding interest payment date or (D) to register the transfer of or to exchange a Security tendered and not withdrawn in connection with an offer to purchase in connection with a Change of Control Triggering Event. 
 (vi) Prior to due presentment for the registration of a transfer of any Security, the Trustee, any Agent and the Company may
deem and treat the Person in whose name any Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest on such Security and for all other purposes, and none of the Trustee, any
Agent or the Company shall be affected by notice to the contrary. 
 (vii) The Trustee shall authenticate Global
Securities and Definitive Securities in accordance with the provisions of Section 303 hereof. 
 (viii) All
certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 306 to effect a registration of transfer or exchange may be submitted by facsimile or electronic transmission with the
original to follow by first class mail. 
  

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 Any Holder of a Global Security shall, by acceptance of such Global Security, agree that
transfers of the beneficial interests in such Security may be effected only through a book entry system maintained by the Holder of such Security (or its agent), and that ownership of a beneficial interest in the Global Security shall be required to
be reflected in a book entry. 
 Except as expressly provided herein, neither the Trustee nor the Registrar shall have any duty
to monitor the Company’s compliance with or have any responsibility with respect to the Company’s compliance with any Federal or state securities laws. 
 SECTION 307. Mutilated, Destroyed, Lost and Stolen Securities. 
 If any
mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of like tenor and principal amount and bearing a number not contemporaneously outstanding.

 If there shall be delivered to the Company, the Guarantor and the Trustee (i) evidence to their satisfaction of the
destruction, loss or theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company, the Guarantor or the Trustee
that such Security has been acquired by a bona fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount and
bearing a number not contemporaneously outstanding. 
 Notwithstanding the provisions of the previous two paragraphs, in case
any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Security issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company and the Guarantor,
respectively, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities duly issued
hereunder. 
 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
  

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 SECTION 308. Payment of Interest; Interest Rights Preserved. 
 Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the
Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. 
 Any interest on any Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be
payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company or the Guarantor, at its election in each case, as provided in Clause (1) or (2) below:

 (1) The Company or the Guarantor may elect to make payment of any Defaulted Interest to the Persons in whose
names the Securities (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company or the
Guarantor, as the case may be, shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date of the proposed payment, and at the same time the Company or the Guarantor, as the case may be,
shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest
which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company
or the Guarantor, as the case may be, of such Special Record Date and, in the name and at the expense of the Company or the Guarantor, as the case may be, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record
Date therefor to be given to each Holder of Securities in the manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer
be payable pursuant to the following Clause (2). 
 (2) The Company or the Guarantor may make payment of any
Defaulted Interest on the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice
given by the Company or the Guarantor, as the case may be, to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section and Section 305, each Security delivered under this Indenture upon registration of
transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
  

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 SECTION 309. Persons Deemed Owners. 
 Prior to due presentment of a Security for registration of transfer, the Company, the Guarantor, the Trustee and any agent of the Company,
the Guarantor or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Section 305 and Section 308) any
interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Guarantor, the Trustee nor any agent of the Company, the Guarantor or the Trustee shall be affected by notice to
the contrary. 
 SECTION 310. Cancellation. 
 All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be
delivered to the Trustee and shall be promptly cancelled by it. The Company or the Guarantor may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company or the Guarantor,
as the case may be, may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued
and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this
Indenture. All cancelled Securities held by the Trustee shall be disposed of as directed by a Company Order or Guarantor Order. 
 SECTION
311. Computation of Interest. 
 Interest on the Securities shall be computed on the basis of a 360-day year of twelve
30-day months. 
 SECTION 312. CUSIP or ISIN Numbers. 
 The Company in issuing the Securities may use “CUSIP” or “ISIN” numbers (if then generally in use), and, if so, the Trustee shall use such “CUSIP” or “ISIN” numbers
in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and
that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will notify the Trustee of any change
“CUSIP” and “ISIN” numbers. 
  

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 ARTICLE IV 
 SATISFACTION AND DISCHARGE 
 SECTION 401. Satisfaction and
Discharge of Indenture. 
 This Indenture shall upon Company Request or Guarantor Request cease to be of further effect
(except as to any surviving rights of registration of transfer or exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company or the Guarantor, as the case may be, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture, when: 
 (1) either: 
 (A) all Securities theretofore authenticated and delivered (other than Securities which have been destroyed, lost or stolen
and which have been replaced or paid as provided in Section 306 and Securities for the payment of which money has theretofore been deposited in trust or segregated and held in trust by the Company or the Guarantor and thereafter repaid to the
Company or the Guarantor, as the case may be, or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 
 (B) all such Securities not theretofore delivered to the Trustee for cancellation: 
 (i) have become due and payable, or 
 (ii) will become due and payable at their Stated Maturity within one year, or 
 (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of
notice of redemption by the Trustee in the name, and at the expense, of the Company or the Guarantor, and the Company or the Guarantor, as the case may be, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited
with the Trustee as trust funds in trust for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and any premium and
interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
 (2) the Company or the Guarantor has paid or caused to be paid all other sums payable hereunder by the Company or the
Guarantor; and 
 (3) the Company has delivered to the Trustee an Officer’s Certificate or the Guarantor has
delivered to the Trustee a Guarantor’s Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with.

 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company and the Guarantor to the
Trustee under Section 607, the obligations of the Trustee to any Authenticating Agent under Section 614 and, if money shall have been deposited with the

  

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Trustee pursuant to subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive such
satisfaction and discharge. 
 SECTION 402. Application of Trust Money. 
 Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401
shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company or the Guarantor acting as its own Paying Agent) as
the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for the payment of which such money has been deposited with the Trustee. 
 ARTICLE V 
 REMEDIES 
 SECTION 501. Events of Default. 
 “Event of Default”, wherever used herein with respect to the Securities, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by
operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
 (1) default in the payment of any interest upon any Security when it becomes due and payable, and continuance of such default for a period of 30 days; or 
 (2) default in the payment of the principal of or any premium on any Security when such principal becomes due and payable, at
maturity, upon acceleration, upon redemption or otherwise (including the failure to make a payment to purchase Securities tendered pursuant to a Change of Control Offer); or 
 (3) default in the performance, or breach, of any covenant or warranty of the Company or the Guarantor in this Indenture
(other than a covenant or warranty a default in the performance or the breach of which is specifically dealt with elsewhere in this Indenture), and continuance of such default or breach for a period of 60 days after there has been given, by
registered or certified mail, to the Company from the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities a written notice specifying such default or breach and requiring it to be remedied and stating that such
notice is a “Notice of Default” hereunder; or 
 (4) a default on any Indebtedness of the Guarantor or
of a Significant Subsidiary of the Guarantor having an aggregate amount of at least $150,000,000, constituting a default either (a) of payment of principal when due and payable (whether at scheduled maturity, required prepayment, acceleration,
demand or otherwise) or (b) which results in acceleration of the indebtedness, and in each case continuance of such default or breach for a period of 30 days after there has been given, by registered or certified mail, to the Company from the
Trustee by the Holders of at least 25% in

  

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principal amount of the Outstanding Securities a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default”
hereunder; or 
 (5) one or more judgments for the payment of money in an aggregate amount in excess of
$150,000,000 above available insurance or indemnity coverage shall be rendered against the Guarantor or any Significant Subsidiary of the Guarantor and the same shall remain undischarged for a period of 45 consecutive days during which execution
shall not be effectively stayed, but only if such judgment is an event of default at that time under any of the Guarantor’s Credit Facilities or any credit facility that the Guarantor enters into to replace a Credit Facility at its maturity or
otherwise; or 
 (6) the entry by a court having jurisdiction in the premises of (A) a decree or order for
relief in respect of the Guarantor in an involuntary case or proceeding under any applicable Bankruptcy Law, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Guarantor a bankrupt or insolvent, or approving
as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Guarantor under any applicable Bankruptcy Law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or
other similar official of the Guarantor or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and
in effect for a period of 60 consecutive days; or 
 (7) the commencement by the Guarantor of a voluntary case or
proceeding under any applicable Bankruptcy Law, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, of the consent by it to the entry of a decree or order for relief in
respect of the Guarantor in an involuntary case or proceeding under any applicable Bankruptcy Law, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by
it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Guarantor or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its
debts generally as they become due, or the taking of corporate action by the Guarantor in furtherance of any such action; or 
 (8) the Guarantee shall for any reason cease to be, or be asserted in writing by the Guarantor or the Company not to be, in full force and effect, enforceable in accordance with its terms, except to the
extent contemplated by this Indenture. 
 SECTION 502. Acceleration of Maturity; Rescission and Annulment. 
 If an Event of Default (other than an Event of Default specified in Section 501(6) or 501(7)) with respect to the Securities at the
time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities may declare the principal amount of all the Securities to be due and

  

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payable immediately, by a notice in writing to the Company and the Guarantor (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount)
shall become immediately due and payable. If an Event of Default specified in Section 501(6) or 501(7) with respect to the Securities at the time Outstanding occurs, the principal amount of all the Securities shall automatically, and without
any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. 
 At any time
after such a declaration of acceleration with respect to the Securities has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in
principal amount of the Outstanding Securities, by written notice to the Company and the Guarantor and the Trustee, may rescind and annul such declaration and its consequences if: 
 (1) the Company or the Guarantor has paid or deposited with the Trustee a sum sufficient to pay: 
 (A) all overdue interest on all Securities, 
 (B) the principal of (and premium, if any, on) any Securities which have become due otherwise than by such declaration of
acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, and 
 (C) all
sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; 
 and 
 (2) all Events of Default with respect to Securities, other
than the non-payment of the principal of Securities which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 
 No such rescission shall affect any subsequent default or impair any right consequent thereon. 
 SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company and the Guarantor
each covenants that if default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or default is made in the payment of the principal of (or premium,
if any, on) any Security at the Maturity thereof, in the case of technical or administrative difficulties only if such a default persists for a period of five days, the Company or the Guarantor will, upon demand of the Trustee, pay to it, for the
benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue
principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances, of the Trustee, its agents and counsel. 
  

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 If the Company or the Guarantor fails to pay such amounts forthwith upon such demand, the
Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the
Company, the Guarantor or any other obligor upon such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company, the Guarantor or any other obligor upon such Securities,
wherever situated. 
 If an Event of Default with respect to the Securities occurs and is continuing, the Trustee may in its
discretion proceed to protect and enforce its rights and the rights of the Holders of Securities by such appropriate judicial proceedings as the Trustee shall deem reasonably necessary to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 504. Trustee May File Proofs of Claim. 
 In case of any judicial
proceeding relative to the Company or the Guarantor (or any other obligor upon the Securities), its property or its creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions
authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable
on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 607. 
 No provision of this Indenture shall be deemed to
authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee
to vote in respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or
other similar committee. 
 SECTION 505. Trustee May Enforce Claims Without Possession of Securities. 
 All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession
of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.

  

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 SECTION 506. Application of Money Collected. 
 Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 FIRST: To the payment of all amounts due the Trustee under Section 607; 
 SECOND: To the payment of the amounts then due and unpaid for principal of and any premium and interest on the Securities in respect of which
or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and any premium and interest, respectively; and 
 THIRD: To the payment of the remainder, if any, to the Company or any other Person or Persons entitled thereto. 
 SECTION 507. Limitation on Suits. 
 No Holder of any Security shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (1) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the
Securities; 
 (2) the Holders of not less than 25% in principal amount of the Outstanding Securities shall have
made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (3) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such
proceeding; and 
 (5) no direction inconsistent with such written request has been given to the Trustee during
such 60–day period by the Holders of a majority in principal amount of the Outstanding Securities; 
 it being understood and intended that
no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain
priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 
  

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 SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and Interest. 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of and any premium and (subject to Sections 305 and 308) interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption
Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
 SECTION 509. Restoration of Rights and Remedies. 
 If the Trustee or any Holder has instituted any proceeding
to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder; then and in every such case, subject to any determination
in such proceeding, the Company, the Guarantor, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as
though no such proceeding had been instituted. 
 SECTION 510. Rights and Remedies Cumulative. 
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
 SECTION 511. Delay or Omission Not Waiver. 
 No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 SECTION 512. Control by Holders. 

The Holders of a majority in principal amount of the Outstanding Securities shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities, provided that 
 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and 
 (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.

  

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 SECTION 513. Waiver of Past Defaults. 
 The Holders of not less than a majority in principal amount of the Outstanding Securities may on behalf of the Holders of all the Securities
waive any past default hereunder and its consequences, except a default: 
 (1) in the payment of the principal
of or any premium or interest on any Security, or 
 (2) in respect of a covenant or provision hereof which under
Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security affected. 
 Upon any
such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture but no such waiver shall extend to any subsequent or other default or impair any right
consequent thereon. 
 SECTION 514. Undertaking for Costs. 
 In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, a court may require any party
litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs including reasonable attorneys’ fees and expenses against any such party litigant, in the manner and to the extent provided in the Trust Indenture
Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company or the Guarantor; provided, that neither
this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company. 
 SECTION 515. Waiver of Usury, Stay or Extension Laws. 
 The Company and the
Guarantor each covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or
at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company and the Guarantor (to the extent that each may lawfully do so) each hereby expressly waives all benefit or advantage of any such law
and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE VI 
 THE TRUSTEE 
 SECTION 601. Certain Duties and Responsibilities. 
 The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Notwithstanding the foregoing, no provision
of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any

  

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of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the
provisions of this Section. 
 SECTION 602. Notice of Defaults. 
 If a default occurs hereunder with respect to the Securities, the Trustee shall give the Holders of Securities notice of such default as and
to the extent provided by the Trust Indenture Act; provided, however, that in the case of any default of the character specified in Section 501(4) with respect to Securities, no such notice to Holders shall be given until at least 30 days after
the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities. 
 SECTION 603. Certain Rights of Trustee. 
 Subject to the provisions of Section 601: 
 (1) the Trustee
may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (2) any request or direction of the Company or the Guarantor mentioned herein shall be sufficiently evidenced by a Company
Request or Company Order or Guarantor Request or Guarantor Order, as the case may be, and any resolution of the Board of Managers or Guarantor Board of Directors shall be sufficiently evidenced by a Board Resolution or Guarantor Board Resolution, as
the case may be; 
 (3) whenever in the administration of this Indenture the Trustee shall deem it desirable that
a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officers’
Certificate or Guarantor’s Officers’ Certificate, as appropriate; 
 (4) the Trustee may consult with
counsel of its own selection and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance
thereon; 
 (5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by
this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or Indemnity against the costs, expenses and liabilities which might be incurred
by it in compliance with such request or direction; 
  

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 (6) the Trustee shall not be bound to make any investigation into the facts
or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Company and the Guarantor, personally or by agent or attorney; 
 (7) the Trustee may execute any
of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due
care by it hereunder; 
 (8) the Trustee shall not be liable for any action taken, suffered, or omitted to be
taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (9) the Trustee shall not be deemed to have notice of any Event of Default or any event which, after notice or lapse of time or both, would become an Event of Default unless a Responsible Officer of the
Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture; and

 (10) the rights, privileges, protections, immunities and benefits given to the Trustee, including, without
limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and the Person employed to act hereunder. 
 SECTION 604. Not Responsible for Recitals or Issuance of Securities. 
 The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. Neither the Trustee nor any Authenticating Agent shall be
accountable for the use or application by the Company of Securities or the proceeds thereof. 
 SECTION 605. May Hold Securities.

 The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company or the
Guarantor, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company or the Guarantor with the same rights it would have if it were not Trustee,
Authenticating Agent, Paying Agent, Security Registrar or such other agent. 
  

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 SECTION 606. Money Held in Trust. 
 Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall
be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 
 SECTION 607.
Compensation and Reimbursement. 
 The Company and the Guarantor (without duplication) each agrees: 
 (1) to pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which
compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any
provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as shall be determined to have been caused by its own negligence or
bad faith; and 
 (3) to indemnify the Trustee for, and to hold it harmless against, any loss, liability, claim,
damage or expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim or
liability in connection with the exercise or performance of any of its powers or duties hereunder. 
 SECTION 608. Conflicting Interests.

 If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall
either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. 
 SECTION 609. Corporate Trustee Required; Eligibility. 
 There shall at all
times be one (and only one) Trustee hereunder with respect to the Securities. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000 and has
its Corporate Trust Office in New York, New York. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the
extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee with
respect to the Securities shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 
  

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 SECTION 610. Resignation and Removal; Appointment of Successor. 
 No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 
 The
Trustee may resign at any time with respect to the Securities by giving written notice thereof to the Company and the Guarantor. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the
Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities. 
 The Trustee may be removed at any time with respect to the Securities by Act of the Holders of a majority in principal amount of the
Outstanding Securities, delivered to the Trustee, the Company and the Guarantor. 
 If at any time: 
 (1) the Trustee shall fail to comply with Section 608 after written request therefor by the Company, the Guarantor or by
any Holder who has been a bona fide Holder of a Security for at least six months, or 
 (2) the Trustee shall
cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company, the Guarantor or by any such Holder, or 
 (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or
control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case,
(A) the Company by a Board Resolution or the Guarantor by a Guarantor Board Resolutions may remove the Trustee with respect to all Securities, or (B) subject to Section 514, any Holder who has been a bona fide Holder of a Security for
at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees.

 If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee
for any cause, with respect to the Securities, the Company, by a Board Resolution, or the Guarantor, by a Guarantor Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities and shall comply with the
applicable requirements of Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities shall be appointed by Act of the Holders of a
majority in principal amount of the Outstanding Securities delivered to the Company, the Guarantor and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the
applicable requirements of Section 611, become the successor Trustee with respect to the

  

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Securities and to that extent supersede the successor Trustee appointed by the Company or the Guarantor. If no successor Trustee with respect to the Securities shall have been so appointed by the
Company, the Guarantor or the Holders of Securities and accepted appointment in the manner required by Section 611, any Holder who has been a bona tide Holder of a Security for at least six months may, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities. 
 The Company or the Guarantor shall give notice of each resignation and each removal of the Trustee with respect to the Securities and each appointment of a successor Trustee with respect to the Securities
to all Holders of Securities in the manner provided in Section 106. Each notice shall include the name of the successor Trustee with respect to the Securities and the address of its Corporate Trust Office. 
 SECTION 611. Acceptance of Appointment by Successor. 
 In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company, the Guarantor
and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company, the Guarantor or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument
transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 
 Upon request of any such successor Trustee, the Company and the Guarantor shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be. 
 No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article. 
 SECTION 612. Merger, Conversion, Consolidation or Succession to Business. 
 Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee
had itself authenticated such Securities. 
  

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 SECTION 613. Preferential Collection of Claims Against Company or the Guarantor. 
 If and when the Trustee shall be or become a creditor of the Company or the Guarantor (or any other obligor upon the Securities), the
Trustee shall be subject to the provisions of Section 311 of the Trust Indenture Act, but only to the extent therein specified, regarding the collection of claims against the Company or the Guarantor (or any such other obligor). For purposes of
Section 311(b)(4) and (6) of such Act, the following terms shall mean: 
 (a) “cash transaction” means any
transaction in which full payment for goods or securities sold is made within seven days after delivery of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; and 
 (b) “self-liquidating paper” means any draft, bill of exchange, acceptance or obligation which is made, drawn, negotiated or
incurred by the Company or the Guarantor for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of, or a lien
upon, the goods, wares or merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of
the creditor relationship with the Company or the Guarantor arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation. 
 SECTION 614. Appointment of Authenticating Agent. 
 The Trustee may appoint
an Authenticating Agent or Agents with respect to the Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities issued upon original issue and upon exchange, registration of transfer or partial redemption
thereof or pursuant to Section 306, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Any such appointment shall
be evidenced by an instrument in writing signed by a Responsible Officer of the Trustee, and a copy of such evidence shall be promptly furnished to the Company and the Guarantor. Wherever reference is made in this Indenture to the authentication and
delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and the Guarantor and shall at all times be a corporation organized and doing business under the laws of the United States of
America, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State
authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of
such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of
this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 
 Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or

  

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consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to
be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee, the Company and the Guarantor. The Trustee
may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company and the Guarantor. Upon receiving such a notice of resignation or upon such a termination, or in case at
any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and the Guarantor and shall give
notice of such appointment in the manner provided in Section 106 to all Holders of Securities with respect to which such Authenticating Agent will serve. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall
become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this
Section. 
 The Trustee agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services
under this Section, and the Trustee shall be entitled to be reimbursed for such payments, subject to the provisions of Section 607. 
 If an appointment is made pursuant to this Section, the Securities may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication
in the following form: 
 This is one of the Securities referred to in the within-mentioned Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION
	As Trustee
		
	By:	 	  

		 	As Authenticating Agent
		
	By:	 	  

		 	Authorized Officer

 ARTICLE VII

 HOLDERS’ LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTOR 
 SECTION 701. Company and Guarantor to Furnish Trustee Names and Addresses of Holders. 
 In the event the Trustee is not acting as the Security Registrar, the Company or the Guarantor will furnish or cause to be furnished to the
Trustee: 
 (1) semi-annually, not later than 15 days after each Regular Record Date, a list, in such form as the
Trustee may reasonably require, of the names and addresses of the Holders of Securities as of the Regular Record Date or such semi-annual date, as the case may be, and 
  

 50 

 (2) at such other times as the Trustee may request in writing, within 30
days after the receipt by the Company or the Guarantor of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 
 excluding from any such list names and addresses received by the Trustee in its capacity as Security Registrar. 
 SECTION 702. Preservation of Information; Communications to Holders. 
 The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 701
and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 701 upon receipt of a new list so furnished. 
 The rights of Holders to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the
corresponding rights and privileges of the Trustee, shall be as provided by this Indenture or the Trust Indenture Act. 
 Every
Holder of Securities, by receiving and holding the same, agrees with the Company, the Guarantor and the Trustee that none of the Company, the Guarantor or the Trustee nor any agent of either of them shall be held accountable by reason of any
disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 
 SECTION 703. Reports by
Trustee. 
 The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture
as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. 
 SECTION 704. Reports by
Guarantor. 
 The Guarantor shall file with the Trustee and the Commission, and transmit to Holders, such information,
documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to the Trust Indenture Act; provided that any such information, documents or reports
required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is filed with the Commission. For purposes of this provision, any such information,
document or report that the Guarantor has filed with the Commission and that is publicly accessible on the Commission’s EDGAR system (or any successor thereto) shall be deemed to be filed with the Trustee and transmitted to Holders. 

 

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 ARTICLE VIII 
 MERGER, CONSOLIDATION, SALE, ASSIGNMENT, TRANSFER, LEASE OR 
 CONVEYANCE 
 SECTION 801. Guarantor May Merge, Etc., Only on Certain Terms. 
 The Guarantor shall not merge with or into or consolidate with any other Person or sell, assign, transfer, lease or convey all or
substantially all of its properties and assets to any Person (other than a direct or indirect wholly-owned Subsidiary of the Guarantor), and the Guarantor shall not permit any Person (other than a direct or indirect wholly-owned Subsidiary of the
Guarantor) to merge with or into or consolidate with the Guarantor or sell, assign, transfer, lease or convey all or substantially all of its properties and assets to the Guarantor, unless: 
 (1) the Guarantor is the surviving corporation or, in case the Guarantor shall merge into or consolidate with another Person
or sell, assign, transfer, lease or convey all or substantially all of its properties and assets to any Person, the Person into which the Guarantor is merged or formed by such consolidation or the Person which acquires by sale, assignment, transfer
or conveyance, or which leases, all or substantially all of its properties and assets of the Guarantor shall be a corporation, limited liability company, partnership or trust, organized and validly existing under the laws of the United States of
America, any State thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and
any premium and interest on all the Securities and the performance or observance of every covenant of this Indenture on the part of the Guarantor to be performed or observed; 
 (2) immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the
Guarantor or any Subsidiary as a result of such transaction as having been incurred by the Guarantor or such Subsidiary at the time of such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an
Event of Default, shall have happened and be continuing; 
 the Guarantor has delivered to the Trustee a Guarantor’s Officers’
Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture complies with this
Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 
 SECTION 802. Successor
Substituted. 
 Upon any merger of the Guarantor into, or consolidation of the Guarantor with, any other Person or any sale,
assignment, transfer, lease or conveyance of all or substantially all of the properties and assets of the Guarantor in accordance with Section 801, the successor Person into which the Guarantor is merged or formed by such consolidation or to
which such sale, assignment, transfer, lease or conveyance is made shall succeed to, and be substituted for, and may exercise every right and power of, the Guarantor under this Indenture with the same effect as if such successor Person had been
named as the Guarantor herein, and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
  

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 ARTICLE IX 
 SUPPLEMENTAL INDENTURES 
 SECTION 901. Supplemental Indentures
Without Consent of Holders. 
 Without the consent of any Holders, the Company, when authorized by a Board Resolution, the
Guarantor, when authorized by a Guarantor Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes:

 (1) to evidence the succession of another Person to the Company or the Guarantor and the assumption by any
such successor of the covenants, agreements and obligations of the Company or the Guarantor, as the case may be, herein and in the Securities; or 
 (2) to add to the covenants of the Company or the Guarantor for the benefit of the Holders of the Securities or to surrender any right or power herein conferred upon the Company or the Guarantor; or

 (3) to add any additional Events of Default for the benefit of the Holders of the Securities; or 

(4) to add to, change or eliminate any of the provisions of this Indenture, provided that any such addition, change or
elimination (A) shall neither (i) apply to any Security created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security with
respect to such provision or (B) shall become effective only when there is no such Security Outstanding; or 
 (5) to secure the Securities; or 
 (6) to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to the Securities and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to the requirements of Section 611; or 
 (7) to cure any ambiguity, to correct or supplement any
provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this Clause
(7) shall not adversely affect the interests of the Holders of Securities in any material respect; or 
  

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 (8) to supplement any provisions of this Indenture necessary to defease and
discharge the Securities, provided that such action does not adversely affect the interests of the Holders of the Securities in any material respect; or 
 (9) to comply with the rules or regulations of any securities exchange or automated quotation system on which any Securities are listed or traded; or 
 (10) to add, change or eliminate any provisions of this Indenture in accordance with any amendments to the Trust Indenture
Act, provided that such action does not adversely affect the interests of the Holders of the Securities in any material respect. 
 SECTION
902. Supplemental Indentures With Consent of Holders. 
 With the consent of the Holders of not less than 50% in
aggregate principal amount of the Outstanding Securities affected by such supplemental indenture, by Act of said Holders delivered to the Company, the Guarantor and the Trustee, the Company, when authorized by a Board Resolution, the Guarantor, when
authorized by a Guarantor Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or
of modifying in any manner the rights of the Holders of the Securities under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby, 

(1) reduce the percentage in principal amount of affected Securities the consent of whose Holders is required for an
amendment of the Indenture or for waiver of compliance with some provisions of the Indenture or for waiver of some defaults under the Indenture; 
 (2) reduce the rate of interest on any Security or change the time for payment of interest; 
 (3) reduce the principal amount of, or premium, if any, due on the Securities or change the Stated Maturity thereof; 
 (4) change the Place of Payment where, or the coin or currency in which, any Note or any premium or interest thereon is
payable; 
 (5) change the provisions relating to waiver of defaults under the Indenture; 
 (6) modify the provisions of the Indenture relating to the ranking of the Securities in a manner adverse to Holders;

 (7) modify the redemption or repurchase provisions of the Indenture and the Securities in a manner adverse to
Holders; 
 (8) impair the right of Holders to institute suit for the enforcement of any payment on or after the
Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date); or 
  

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 (9) modify any of the provisions of this Section, Section 513 or
Section 1008, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however,
that this Clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section and Section 1008, or the deletion of this proviso, in
accordance with the requirements of Sections 611 and 901(7). 
 It shall not be necessary for any Act of Holders of Securities
under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 SECTION 903. Execution of Supplemental Indentures. 
 In executing, or
accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 601) shall
be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s owner’s rights, duties or immunities under this Indenture or otherwise. 
 SECTION 904.
Effect of Supplemental Indentures. 
 Upon the execution of any supplemental indenture under this Article, this Indenture
shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

 SECTION 905. Conformity with Trust Indenture Act. 
 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 
 SECTION 906. Reference in Securities to Supplemental Indentures. 
 Securities authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in
such supplemental indenture. If the Company shall so determine, new Securities so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated
and delivered by the Trustee in exchange for Outstanding Securities. 
  

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 ARTICLE X 
 COVENANTS 
 SECTION 1001. Payment of Principal, Premium and
Interest. 
 The Company covenants and agrees for the benefit of Holders that it will duly and punctually pay the principal
of and any premium and interest on the Securities in accordance with the terms of the Securities and this Indenture. 
 SECTION 1002.
Maintenance of Office or Agency. 
 The Company and the Guarantor will maintain in each Place of Payment an office or agency
where Securities may be presented or surrendered for payment, where Securities may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company and the Guarantor in respect of the Securities and this
Indenture may be served. The Company or the Guarantor will give prompt written notice to the Trustee of the location, and any change in the location, of any such office or agency. If at any time the Company and the Guarantor shall fail to maintain
any such required office or agency in respect of Securities or shall fail to furnish the Trustee with the address thereof, such presentations and surrenders of Securities may be made and notices and demands may be made or served at the Corporate
Trust Office of the Trustee, and the Company and the Guarantor hereby appoint the same as its agent to receive such respective presentations, surrenders, notices and demands. The Company and the Guarantor may also from time to time designate one or
more other offices or agencies where the Securities may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner
relieve the Company and the Guarantor of their respective obligations to maintain an office or agency in each Place of Payment for Securities for such purposes. The Company and the Guarantor will give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other office or agency. 
 SECTION 1003. Money for Securities
Payments to Be Held in Trust. 
 If the Company shall at any time act as its own Paying Agent, or if the Guarantor shall at
any time act as Paying Agent, it will, on or before each due date of the principal of or any premium or interest on any of the Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the
principal and any premium or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 
 Whenever the Company or the Guarantor shall have one or more Paying Agents, it will, prior to each due date of the principal of or any
premium or interest on any Securities, deposit with a Paying Agent a sum sufficient to pay the principal and any premium or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or
interest, and (unless such Paying Agent is the Trustee) the Company or the Guarantor will promptly notify the Trustee of its action or failure so to act. 
 The Company and the Guarantor will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to
the provisions of this Section, that such Paying Agent will (1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance of any default by the Company (or any other obligor
upon the Securities) in the making of any payment in respect of the Securities, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities. 

 

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 The Company or the Guarantor may at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture or for any other purpose, pay, or by Company Order or Guarantor Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company, the Guarantor or such Paying Agent, such sums to be held by
the Trustee upon the same trusts as those upon which such sums were held by the Company, the Guarantor or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability
with respect to such money. 
 Any money deposited with the Trustee or any Paying Agent, or then held by the Company or the
Guarantor, in trust for the payment of the principal of or any premium or interest on any Security and remaining unclaimed for two years after such principal and any premium or interest has become due and payable shall be paid to the Company on
Company Request or the Guarantor on Guarantor Request, or (if then held by the Company or the Guarantor) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the
Company and the Guarantor for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company and the Guarantor as trustee thereof, shall thereupon cease; provided, however,
that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company and the Guarantor cause to be published once, in an Authorized Newspaper in each Place of Payment, notice that such money
remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company or the Guarantor. 
 SECTION 1004. Statement by Officers as to Default. 
 (a) The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate, stating whether or not to the
best knowledge of the signers thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder)
and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 
 (b) The Guarantor will deliver to the Trustee, within 120 days after the end of each fiscal year of the Guarantor ending after the date hereof, a Guarantor’s Officers’ Certificate, stating
whether or not to the best knowledge of the signers thereof the Guarantor is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of
notice provided hereunder) and, if the Guarantor shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 
  

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 SECTION 1005. Existence. 
 Subject to Article VIII, the Guarantor will do or cause to be done all things necessary to preserve and keep in full force and effect its
existence, rights (charter and statutory) and franchises; provided, however, that the Guarantor shall not be required to preserve any such right or franchise if the Guarantor’s Board of Directors shall determine that the preservation thereof is
no longer desirable in the conduct of the business of the Guarantor and that the loss thereof is not disadvantageous in any material respect to the ability of the Guarantor to make payments hereunder. 
 SECTION 1006. Maintenance of Properties. 
 The Guarantor will cause all properties used or useful in the conduct of its business or the business of any Subsidiary to be maintained and kept in good condition, repair and working order and supplied
with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Guarantor may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section shall prevent the Guarantor from discontinuing the operation or maintenance of any of such properties if such discontinuance is, in
the judgment of the Guarantor, desirable in the conduct of its business or the business of any Subsidiary and not disadvantageous in any material respect to the ability of the Guarantor to make payments hereunder. 
 SECTION 1007. Payment of Taxes and Other Claims. 
 The Guarantor will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon the
Guarantor or any Subsidiary or upon the income, profits or property of the Guarantor or any Subsidiary, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien upon the property of the Guarantor
or any Subsidiary; provided, however, that the Guarantor shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith.

 SECTION 1008. Limitations on Liens. 
 The Guarantor shall not (nor shall it permit any of its Significant Subsidiaries to) create or permit to exist any Lien on any Principal Property of the Guarantor or any of its Significant Subsidiaries
(or on any Capital Stock of a Significant Subsidiary of the Guarantor), whether such Principal Property or Capital Stock is now existing or owned or hereafter acquired, to secure any Indebtedness, unless the Guarantor shall contemporaneously secure
the Securities (together with, if the Guarantor so determines, any other Indebtedness of or guaranty by the Guarantor or such Significant Subsidiary of the Guarantor then existing or thereafter created which is not subordinated to the Securities)
equally and ratably with (or, at the Guarantor’s option, prior to) such secured Indebtedness. 
 The foregoing restriction,
however, shall not require the Guarantor to secure the Securities if the Lien consists of either of the following: 
 (a)
Permitted Liens; or 
  

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 (b) Liens securing Indebtedness if at the time of determination, after giving pro forma
effect to the incurrence, creation, assumption or guaranty of such Indebtedness or the securing of outstanding Indebtedness and to the retirement of Indebtedness which is concurrently being retired, the sum of (without duplication) (i) the
aggregate principal amount of all Indebtedness of the Guarantor and its Significant Subsidiaries secured by Liens on any Principal Property of the Guarantor or any of its Significant Subsidiaries (or any Capital Stock of a Significant Subsidiary)
(other than Permitted Liens) and (ii) all Attributable Debt in respect of Sale and Lease-Back Transactions not otherwise permitted under the first sentence of Section 1009 hereof, does not exceed fifteen percent of Consolidated Net
Tangible Assets. 
 SECTION 1009. Limitation on Sale and Lease-Back Transactions. 
 The Guarantor shall not, and shall not permit any of its Significant Subsidiaries to, enter into any Sale and Lease-Back Transaction with
respect to any Principal Property, other than (x) any such Sale and Lease-Back Transaction with respect to (i) the land, improvements, fixtures and three buildings located at 141 West Jackson Boulevard in Chicago, consisting of a total of
approximately 1,500,000 square feet, or (ii) the land, improvements, buildings and fixtures located at One North End Ave, New York, New York 10282, (y) any such Sale and Lease-Back Transaction involving a lease for a term of not more than
three years or (z) any such Sale and Lease-Back Transaction between the Guarantor and one of its Subsidiaries or between its Subsidiaries, unless: 
 (a) the Guarantor or such Significant Subsidiary of the Guarantor, as applicable, could have incurred Indebtedness secured by a Lien on the Principal Property involved in such Sale and Lease-Back
Transaction in an amount at least equal to the Attributable Debt with respect to such Sale and Lease-Back Transaction, without equally and ratably securing the Securities, pursuant to Section 1008 hereof; or 
 (b) the proceeds of such Sale and Lease-Back Transaction are at least equal to the fair market value of the affected Principal Property (as
determined in good faith by the Guarantor’s Board of Directors) and the Guarantor or one of its Significant Subsidiaries applies an amount equal to the net proceeds of such Sale and Lease-Back Transaction within 365 days of such Sale and
Lease-Back Transaction to any (or a combination) of: 
 (i) the prepayment or retirement of the Securities,

 (ii) the prepayment or retirement (other than any mandatory retirement, mandatory prepayment or sinking fund
payment or by payment at maturity) of other Indebtedness of the Guarantor or of one of its Subsidiaries (other than Indebtedness that is subordinated to the Securities or Indebtedness owed to the Guarantor or one of its Subsidiaries) that matures
more than 12 months after its creation; or 
 (iii) the purchase, construction, development, expansion or
improvement of other comparable property. 
 Notwithstanding the foregoing, the Guarantor and its Significant Subsidiaries shall
be allowed to enter into any Sale and Lease-Back Transaction if, after giving pro forma effect to

  

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such Sale and Lease-Back Transaction, the sum of (without duplication) (i) the aggregate principal amount of all Indebtedness of the Guarantor and its Significant Subsidiaries secured by
Liens on any Principal Property of the Guarantor or any of its Significant Subsidiaries (or any Capital Stock of a Significant Subsidiary) (other than Permitted Liens) and (ii) all Attributable Debt in respect of Sale and Lease-Back
Transactions not otherwise permitted under the first sentence of this Section 1009 does not exceed fifteen percent of Consolidated Net Tangible Assets. 
 SECTION 1010. Intentionally Omitted. 
 SECTION 1011. Waiver of Certain Covenants.

 The Company and the Guarantor may, with respect to the Securities, omit in any particular instance to comply with any term,
provision or condition set forth in any covenant provided pursuant to 901(2) or 901(7) for the benefit of the Holders if before the time for such compliance the Holders of at least 50% in principal amount of the Outstanding Securities shall, by Act
of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly
waived, and, until such waiver shall become effective, the obligations of the Company and the Guarantor and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 
 ARTICLE XI 
 REDEMPTION OF SECURITIES 
 SECTION 1101. Election to Redeem; Notice to Trustee. 
 If the Company elects to redeem the Securities pursuant to the optional redemption provisions of Section 1107 hereof, at least 30 days
prior to the redemption date (unless a shorter notice shall be agreed to in writing by the Trustee) but not more than 60 days before the redemption date, the Company shall furnish to the Trustee an Officers’ Certificate setting forth
(i) the applicable section of this Indenture pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of Securities to be redeemed and (iv) the redemption price. 
 SECTION 1102. Selection by Trustee of Securities to Be Redeemed. 
 If less than all the Securities are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding
Securities not previously called for redemption, by such method as the Trustee shall deem fair and appropriate. Securities and portions of Securities selected shall be in amounts of $2,000 or integral multiples of $1,000 in excess thereof; except
that if all of the Securities of a Holder are to be redeemed, the entire outstanding amount of Securities held by such Holder, even if not an integral multiple of $1,000, shall be redeemed. If less than all of the Securities and of a specified tenor
are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities and specified tenor not previously called for redemption in accordance
with the preceding sentence. 
  

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 The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption as aforesaid and, in case of any Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 
 The provisions of the two preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether such Security is to be redeemed in whole or in part. In the case of
any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. 
 For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall
relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 
 SECTION 1103. Notice of Redemption. 
 Notice of redemption shall be given
in the manner provided in Section 106 to the Holders of Securities to be redeemed not less than 30 (or in the case of a “Special Mandatory Redemption” in the manner provided in Section 1109) nor more than 60 days prior to the
Redemption Date. 
 All notices of redemption shall state: 
 (1) the Redemption Date, 
 (2) the Redemption Price, 
 (3) if less than all the Outstanding
Securities consisting of more than a single Security are to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the
Outstanding Securities consisting of a single Security are to be redeemed, the principal amount of the particular Security to be redeemed, 
 (4) that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said
date, the place or places where such Securities are to be surrendered for payment of the Redemption Price, that the redemption is for a sinking fund, if such is the case, and applicable CUSIP or ISIN numbers, if any. 
 A notice of redemption published as contemplated by Section 106 need not identify particular Registered Securities to be redeemed.

  

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 Notice of redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company and shall be irrevocable. 
 SECTION 1104. Deposit of Redemption Price. 
 Prior to any Redemption Date, the Company or the Guarantor shall
deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the
Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities which are to be redeemed on that date. 
 SECTION
1105. Securities Payable on Redemption Date. 
 Notice of redemption having been given as aforesaid, the Securities so to
be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company or the Guarantor shall default in the payment of the Redemption Price and accrued interest)
such Securities shall cease to bear interest. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company or the Guarantor at the Redemption Price, together with accrued interest to
the Redemption Date; provided, however, that, installments of interest on Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as
such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 308. 
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security.

 SECTION 1106. Securities Redeemed in Part. 
 Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company, the Guarantor or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder
of such Security without service charge, a new Security or Securities of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of
the Security so surrendered. 
 SECTION 1107. Optional Redemption 
 At any time and from time to time, the Securities shall be redeemable, as a whole or in part, at the Company’s option, at a redemption
price equal to the greater of (i) 100% of principal amount of the Securities to be redeemed, and (ii) the sum of the present values of the Remaining Scheduled Payments on such notes discounted to the date of redemption (excluding interest
accrued to the date of redemption), on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months), at a rate equal to the sum of the applicable Treasury Rate (as defined below) plus 20 basis points, plus, in each case, accrued
and unpaid interest thereon to, but not including, the redemption date. 
  

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 SECTION 1108. Repurchase upon Change of Control Triggering Event. 
 (a) If a Change of Control Triggering Event occurs with respect to the Securities, unless the Company shall have exercised its right
pursuant to Section 1107 hereof to redeem the Securities, the Company shall make an offer to each Holder of the Securities to repurchase all or, at such Holder’s option, any part (equal to $2,000 or any integral multiple of $1,000 in
excess thereof) of such Holder’s Securities (the “Change of Control Offer”) for payment in cash equal to 101% of the aggregate principal amount of the Securities repurchased plus accrued and unpaid interest, if any, on the Securities
repurchased to, but not including, the date of purchase (the “Change of Control Payment”). 
 (b) Within 30 days
following any Change of Control Triggering Event with respect to the Securities or, at the Company’s option, prior to any Change of Control but after the public announcement of the transaction or transactions that constitutes or may constitute
a Change of Control, the Company shall cause a notice to be mailed to Holders of the Securities, with a copy to the Trustee for the Securities, describing the transaction or transactions that constitute or may constitute the Change of Control
Triggering Event and offering to repurchase the Securities on the date specified in the notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment
Date”), pursuant to the procedures required by the Securities and described in such notice. The notice shall, if mailed prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of
Control Triggering Event occurring on or prior to the Change of Control Payment Date. Upon 10 Business Days’ advance notice to the Trustee, the Company may request the Trustee to mail the notice to Holders described in this Section 1108(b)
in the name of and at the expense of the Company. 
 (c) The Company shall comply with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of Securities as a result of a Change of Control Triggering Event. To the extent that the
provisions of any such securities laws or regulations conflict with this Section 1108, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under this Section 1108 by
virtue of such conflict. 
 (d) On the Change of Control Payment Date, the Company shall, to the extent lawful: 
 (i) accept for payment all Securities or portions of Securities properly tendered pursuant to the Change of Control Offer;

 (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all
Securities or portions of Securities properly tendered; and 
  

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 (iii) deliver or cause to be delivered to the Trustee the Securities
properly accepted together with an Officer’s Certificate stating the aggregate principal amount of Securities or portions of Securities being purchased by the Company. 
 (e) The Paying Agent shall promptly mail, to each Holder who properly tendered Securities, the purchase price for such Securities, and the
Trustee shall promptly authenticate and mail (or cause to be transferred by book entry) to each such Holder a new Security equal in principal amount to any unpurchased portion of the Securities surrendered, if any; provided that each new
Security will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 (f) The Company shall
not be required to make a Change of Control Offer upon a Change of Control Triggering Event if a third party makes a Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture
applicable to a Change of Control Offer made by the Company and purchases all Securities properly tendered and not withdrawn under such Change of Control Offer. In the event that such third party terminates or defaults on its Change of Control
Offer, the Company shall be required to make a Change of Control Offer treating the date of such termination or default as though it were the date of the Change of Control Triggering Event. 
 The Company shall not be required to purchase any Securities if there has occurred and is continuing on the Change of Control Payment Date
an Event of Default under the Indenture, other than a default in the payment of the Change of Control Payment. 
 SECTION 1109. Special
Mandatory Redemption. 
 If (1) the transactions contemplated by the Contribution Agreement have not been consummated
on or prior to July 1, 2010 or (2) the Contribution Agreement is terminated prior to July 1, 2010, the Securities shall be redeemed on the Special Mandatory Redemption Date at the Special Mandatory Redemption Price. The Company, or
the Trustee on its behalf, shall prepare and mail a notice of redemption to each Holder promptly after the occurrence of the event triggering such redemption. On and after the Special Mandatory Redemption Date, interest shall cease to accrue on the
Securities (unless the Company defaults in the payment of the Special Mandatory Redemption Price and accrued interest). On or before the Special Mandatory Redemption Date, the Issuer shall deposit with a Paying Agent money sufficient to pay the
Special Mandatory Redemption Price. 
 ARTICLE XII 
 SINKING FUNDS 
 SECTION 1201. Applicability of Article.

 The Securities shall not have the benefit of any sinking fund. 
  

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 ARTICLE XIII 
 DEFEASANCE AND COVENANT DEFEASANCE 
 SECTION 1301. Option to Effect
Defeasance or Covenant Defeasance. 
 The Company or the Guarantor may at their option, at any time, elect to have either
Section 1302 or Section 1303 applied to the Outstanding Securities upon compliance with the conditions set forth below in this Article XIII. 
 SECTION 1302. Defeasance and Discharge. 
 Upon the Company’s or the Guarantor’s exercise of the
option provided in Section 1301 applicable to this Section, the Company and the Guarantor shall be deemed to have been discharged from their respective obligations with respect to the Outstanding Securities on the date the conditions set forth
below are satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Company or the Guarantor shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities and to
have satisfied all its other obligations under the Securities and this Indenture insofar as the Securities are concerned (and the Trustee, at the expense of the Company and the Guarantor, shall execute proper instruments acknowledging the same),
except for the following which shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders of the Securities to receive, solely from the trust fund described in Section 1304 and as more fully set forth in
such Section, payments in respect of the principal of and any premium and interest on the Securities when such payments are due, (B) the Company’s and/or the Guarantor’s obligations with respect to such Securities under Sections 305,
306, 1002 and 1003, (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (D) this Article XIII. Subject to compliance with this Article XIII, the Company or the Guarantor may exercise its option under this
Section 1302 notwithstanding the prior exercise of its option under Section 1303. 
 SECTION 1303. Covenant Defeasance.

 Upon the Company’s or the Guarantor’s exercise of the option provided in Section 1301 applicable to this
Section, (i) the Company and the Guarantor shall be released from its obligations with respect to the Securities under Section 801, Sections 1005 through 1009, inclusive, and any covenants provided pursuant to Section 901(2) or 901(7)
for the benefit of the Holders of such Securities and (ii) the occurrence of an event specified in Sections 501(4), (5) or (6) shall not be deemed to be an Event of Default on and after the date the conditions set forth below are
satisfied (hereinafter, “covenant defeasance”). For this purpose, such covenant defeasance means that the Company and the Guarantor may omit to comply with and shall have no liability in respect of any term, condition or limitation set
forth in any such Section or Clause whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Clause or by reason of any reference in any such Section or Clause to any other provision herein or in any other
document, but the remainder of this Indenture and such Securities shall be unaffected thereby. 
 SECTION 1304. Conditions to Defeasance or
Covenant Defeasance. 
 The following shall be the conditions to application of either Section 1302 or
Section 1303 to the then Outstanding Securities: 
 (1) The Company or the Guarantor shall irrevocably have
deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of

  

 65 

 
Section 609 who shall agree to comply with the provisions of this Article XIII applicable to it) as trust funds in trust for the purpose of making the following payments specifically pledged
as security for, and dedicated solely to, the benefit of the Holders of the Securities, (A) money in an amount, or (B) Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance
with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed
in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, the principal of, premium, if any, and each installment of interest on
the Securities on the Stated Maturity of such principal or installment of interest in accordance with the terms of this Indenture and of the Securities. For this purpose, “Government Obligations” means, securities that are (x) direct
obligations of the United States government for the payment of which its full faith and credit is pledged or (y) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of such government the payment of
which is unconditionally guaranteed as a full faith and credit obligation by such government, which, in either case, are not callable or redeemable at the option of the issuer thereof and shall also include a depositary receipt issued by a bank (as
defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any Government Obligation where the relevant government is the United States of America or a specific payment of principal of or interest on any such Government
Obligation held by such custodian for the account of the holder of such depositary receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository
receipt from any amount received by the custodian in respect of the such Government Obligation or the specific payment of principal of or interest on such Government Obligation evidenced by such depository receipt. 
 (2) In the event of an election to have Section 1302 apply to any Securities, the Company or the Guarantor shall have
delivered to the Trustee an Opinion of Counsel stating that (x) the Company or the Guarantor has received from, or there has been published by, the Internal Revenue Service a ruling, or (y) since the date of this Indenture there has been a
change in the applicable Federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the Holders of the Outstanding Securities will not recognize gain or loss for Federal income tax purposes as a
result of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred.

 (3) In the event of an election to have Section 1303 apply to any Securities, the Company or the
Guarantor shall have delivered to the Trustee an Opinion of Counsel to the effect the that Holders of the Outstanding Securities will not recognize gain or loss for Federal income tax purposes as a result of such deposit and covenant defeasance and
will be subject to Federal income tax on the same amount, in the same manner and at the same times as would have been the case if such deposit and covenant defeasance had not occurred. 
  

 66 

 (4) No Event of Default or event which with notice or lapse of time or both
would become an Event of Default with respect to the Securities shall have occurred and be continuing on the date of such deposit or, insofar as subsections 501(5) and (6) are concerned, at any time during the period ending on the 90th day
after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 
 (5) Such defeasance or covenant defeasance shall not cause the Trustee to have a conflicting interest as defined in Section 608 and for purposes of the Trust Indenture Act with respect to any
securities of the Company. 
 (6) Such defeasance or covenant defeasance shall not result in a breach or
violation of, or constitute a default under, any other agreement or instrument to which the Company or the Guarantor is a party or by which it is bound. 
 (7) The Company or the Guarantor shall have delivered to the Trustee an Officers’ Certificate or Guarantor’s Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent provided for relating to either the defeasance under Section 1302 or the covenant defeasance under Section 1303 (as the case may be) have been complied with. 
 (8) Such defeasance or covenant defeasance shall not result in the trust arising from such deposit constituting an investment
company as defined in the Investment Company Act, or such trust shall be qualified under such act or exempt from regulation thereunder. 
 SECTION 1305. Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions. 
 Subject to the provisions of the last paragraph of Section 1003, all money and Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee (solely for purposes of this Section and
Section 1306, the Trustee and any such other trustee are referred to collectively, for purposes of this Section 1305, as the “Trustee”) pursuant to Section 1304 in respect of the Securities shall be held in trust and applied
by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent or the Guarantor acting as Paying Agent) as
the Trustee may determine, to the Holders of the Securities, of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, but such money need not be segregated from other funds except to the extent required
by law. 
 The Company and the Guarantor (without duplication) shall pay and indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against the Government Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of the Outstanding Securities. 
  

 67 

 Anything in this Article XIII to the contrary notwithstanding, the Trustee shall deliver or
pay to the Company from time to time upon Company Request or any money or Government Obligations held by it as provided in Section 1304 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent defeasance or covenant defeasance. 
 SECTION 1306. Reinstatement. 
 If the Trustee or the Paying Agent is unable to apply any money in accordance with Section 1302 or 1303 by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, then the Company’s and the Guarantor’s obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to this Article XIII until such time as the Trustee or
Paying Agent is permitted to apply all such money in accordance with Section 1302 or 1303; provided, however, that if the Company or the Guarantor makes any payment of principal of (and premium, if any) or interest on any Security following the
reinstatement of its obligations, the Company and the Guarantor shall be subrogated to the rights of the Holders of the Securities to receive such payment from the money held by the Trustee or the Paying Agent. 
 ARTICLE XIV 
 GUARANTEE AND INDEMNITY 
 SECTION 1401. The Guarantee. 
 The Guarantor hereby unconditionally guarantees to each Holder of a Security authenticated and delivered by the Trustee (i) the due and
punctual payment of the principal of, any premium and interest on, such Security, when and as the same shall become due and payable, whether at maturity, by acceleration, redemption, repayment or otherwise, (ii) the due and punctual payment of
interest on overdue principal of and interest on each such Security, if any, to the extent lawful, and (iii) the full and punctual performance within applicable grace periods of all other obligations (including obligations to the Trustee) of
the Company under this Indenture and the Securities in accordance with the terms of such Security and of this Indenture. In case of the failure of the Company punctually to pay any such principal, premium, interest, the Guarantor hereby agrees to
cause any such payment to be made punctually when and as the same shall become due and payable, whether at maturity, upon acceleration, redemption, repayment or otherwise, and as if such payment were made by the Company. 
 SECTION 1402. Guarantee Unconditional, etc. 
 The Guarantor hereby agrees that its obligations hereunder shall be as principal and not merely as surety, and shall be absolute, full, irrevocable and unconditional, irrespective of, and shall be
unaffected by, any invalidity, irregularity or unenforceability of any Security or this Indenture, any failure to enforce the provisions of any Security or this Indenture, or any waiver, modification, consent or indulgence granted with respect
thereto by the Holder of such Security or the Trustee, the recovery of any judgment against the Company or any action to enforce the same, or any other circumstances which may otherwise constitute a legal or equitable discharge of a surety or
Guarantor. The Guarantor further agrees that the Guarantee constitutes a guarantee

  

 68 

 
of payment, performance and compliance and not merely of collection and that its obligations under the Guarantee shall not be subject to any defense of setoff, counterclaim, recoupment or
termination whatsoever or by reason of the invalidity, illegality or unenforceability of any Security or this Indenture. The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger,
insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest or notice with respect to any such Security or the Indebtedness evidenced thereby and all demands whatsoever, and covenants that this
Guarantee will not be discharged except by payment in full of the principal of, any premium and interest on, the Securities and the complete performance of all other obligations contained in the Securities. The Guarantor further agrees, to the
fullest extent that it lawfully may do so, that, as between the Guarantor, on the one hand, and the Holders and the Trustee, on the other hand, the Maturity of the obligations guaranteed hereby may be accelerated as provided in Section 502
hereof for the purposes of this Guarantee, notwithstanding any stay, injunction or prohibition extant under any bankruptcy, insolvency, reorganization or other similar law of any jurisdiction preventing such acceleration in respect of the
obligations guaranteed hereby. 
 SECTION 1403. Reinstatement. 
 This Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time payment on any Security, in whole or in
part, is rescinded or must otherwise be restored to the Company or the Guarantor upon the bankruptcy, liquidation or reorganization of the Company or otherwise. If any Holder of any Security or the Trustee is required by any court or otherwise to
return to the Company or the Guarantor, or any custodian, trustee, liquidator, receiver, sequestrator or other similar official acting in relation to the Company or the Guarantor any amount paid by any of them to the Trustee or such Holder in
respect of a Security, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 
 SECTION 1404.
Subrogation. 
 The Guarantor shall be subrogated to all rights of the Holder of any Security against the Company in respect
of any amounts paid to such Holder by the Guarantor pursuant to the provisions of this Guarantee; provided, however, that the Guarantor shall not be entitled to enforce, or to receive any payments arising out of or based upon, such right of
subrogation until the principal of, any premium and interest on, all Securities shall have been paid in full. 
 SECTION 1405. Indemnity.

 As a separate and alternative stipulation, the Guarantor unconditionally and irrevocably agrees that any sum expressed to be
payable by the Company under this Indenture or the Securities but which is for any reason (whether or not now known or becoming known to the Company, the Guarantor, the Trustee or any Holder of any Security) not recoverable from the Guarantor on the
basis of a Guarantee will nevertheless be recoverable from it as if it were the sole principal debtor and will be paid by it to the Trustee on demand. This indemnity constitutes a separate and independent obligation from the other obligations in
this Indenture, gives rise to a separate and independent cause of action and will apply irrespective of any indulgence granted by the Trustee or any Holder of any Security. 
  

 69 

 SECTION 1406. Payment of Fees. 
 The Guarantor also agrees to pay any and all reasonable costs and expenses (including reasonable attorneys’ fees) incurred by the
Trustee or any Holder of Securities in enforcing any of their respective rights under the Guarantee. 
  
  
 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. 
  

 70 

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

			
	CME GROUP INDEX SERVICES LLC
		
	By:	 	 /s/ James E. Parisi

	Name:	 	James E. Parisi
	Title:	 	Chief Financial Officer
	
	CME GROUP INC.
		
	By:	 	 /s/ James E. Parisi

	Name:	 	James E. Parisi
	Title:	 	Chief Financial Officer & Managing Director Finance & Corporate Development
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Grace A. Gorka

	Name:	 	Grace A. Gorka
	Title:	 	Vice President

 EXHIBIT A 
 [Face of Security] 
 [Insert the Global Security Legend, if applicable, pursuant to the provisions
of the Indenture] [Insert the Private Placement Legend, if applicable, pursuant to the provisions of the Indenture] [Insert the Regulation S Legend, if applicable, pursuant to the provisions of the Indenture] 
 CUSIP [12572XAA8][U1900PAA8] 
 ISIN [US12572XAA81][
U1900PAA85] 
 [RULE 144A] [REGULATION S] GLOBAL NOTE 
 4.40% SENIOR NOTE DUE 2018 
  

			
	No. R-1	  	$            

 CME Group Index Services LLC 
 CME Group Index Services LLC., a Delaware limited
liability company (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 registered assigns, the principal
sum of SIX HUNDRED TWELVE MILLION FIVE HUNDRED THOUSAND DOLLARS ($612,500,000) on March 15, 2018, and to pay interest thereon from March 18, 2010 or from the most recent Interest Payment Date to which interest has been paid or duly
provided for, semi-annually on March 15 and September 15 in each year, commencing September 15, 2010, at the rate of 4.40% per annum, until the principal hereof is paid or made available for payment, or as adjusted pursuant to
the terms of the Indenture. 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 Security is registered at the close of business
on the Regular Record Date for such interest, which shall be the day immediately preceding such Interest Payment Date (whether or not a Business Day), as the case may be. 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 Security 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 shall be given to Holders of Securities 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 Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
  

 Ex. A-1 

 Payment of the principal of (and premium, if any) and any such interest on this Security
will be made at the Corporate Trust Office of the Trustee, 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; provided, however, that at the
option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register; and provided, further, that if this Security is a Global Security, payment may
be made pursuant to the Applicable Procedures of the Depositary as permitted in the Indenture. 
 If any Interest Payment Date,
Repurchase Date, Redemption Date, Special Mandatory Redemption Date, Stated Maturity or Maturity is not a Business Day, then payment of principal, premium, if any, or interest, as applicable, shall be made on the next succeeding Business Day with
the same force and effect as if made on such Interest Payment Date, Repurchase Date, Stated Maturity or Maturity. No interest shall accrue on the amount so payable for the period from the relevant Interest Payment Date, Repurchase Date, Stated
Maturity or Maturity to the date on which the payment is made. 
 Reference is hereby made to the further provisions of this
Security 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 hereof has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 
  

 Ex. A-2 

 IN WITNESS WHEREOF, the Company has caused this Security to be signed manually or by
facsimile by one of its duly authorized officers. 
  

			
	CME GROUP INDEX SERVICES LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 Ex. A-3 

 Certificate of Authentication 
 This is one of the 4.40% Senior Notes due 2018 referred to in the within-mentioned Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  

 Ex. A-4 

 [FORM OF REVERSE OF NOTE] 
 CME Group Index Services LLC 
 4.40% SENIOR NOTE DUE 2018

 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”),
fully and unconditionally guaranteed as to payment of principal, premium, if any, and interest by CME Group Inc., a Delaware corporation (herein called the “Guarantor,” which term includes any successor Person that shall have become such
pursuant the applicable provisions of the Indenture), issued under an Indenture, dated as of March 18, 2010 (herein called, together with all indentures supplemental thereto, the “Indenture”), among the Company, the Guarantor and U.S.
Bank National Association, 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 Guarantor, the Trustee and the Holders of the Notes, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This is
one of the Securities designated on the face hereof initially limited in aggregate principal amount to $612,500,000. 
 The
Securities are subject to redemption at the option of the Company as provided in Section 1107 of the Indenture. 
 Upon the
occurrence of a Change of Control Triggering Event, unless the Company has exercised its right to redeem the Securities under Section 1107 of the Indenture, the Company shall be required to make an offer to purchase this Security on the terms
set forth in Section 1108 of the Indenture and pursuant to the provisions of Section 1108 of the Indenture. 
 The
Securities are subject to Special Mandatory Redemption as provided in Section 1109 of the Indenture. 
 This Security will
not be subject to any sinking fund. 
 The Indenture contains provisions for defeasance at any time of the entire indebtedness
of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to the Securities shall occur and be continuing, the principal of, and premium, if any, plus accrued and
unpaid interest on the Securities 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 and the Guarantor and the rights of the Holders of the Securities to be affected
under the Indenture at any time by the Company, the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding to be affected. The Indenture also contains provisions
permitting the Holders of not less than a majority in principal amount of the

  

 Ex. A-5 

 
Securities at the time Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company and the Guarantor 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 Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security 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 Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security 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 Securities, the Holders of not less than 25% in principal amount
of the Securities 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 Securities 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 Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein.

 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the
obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security 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 Security is registrable in the
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company and the Guarantor in any place where the principal of and any premium and interest on this Security 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 Securities and of like
tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Securities are issuable only in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to
certain limitations therein set forth, Securities are exchangeable for a like aggregate principal amount of Securities 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. 
  

 Ex. A-6 

 Prior to due presentment of this Security for registration of transfer, the Company, the
Guarantor, the Trustee and any agent of the Company, the Guarantor or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company,
the Guarantor, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This Security and all the
obligations of the Company hereunder are direct, senior unsecured and unsubordinated obligations of the Company and rank pari passu with all other senior unsecured and unsubordinated indebtedness of the Company from time to time outstanding.
The Guarantee of the Guarantor and all the obligations of the Guarantor under the Guarantee are direct, senior unsecured and unsubordinated obligations of the Guarantor and rank pari passu with all other senior unsecured and unsubordinated
indebtedness of the Guarantor from time to time outstanding. 
 THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 All terms used in this Security which are defined in the Indenture
shall have the meanings assigned to them in the Indenture. 
 The Company will furnish to any Holder upon written request and
without charge a copy of the Indenture. Requests may be made to: 
 If to the Company: CME Group Index Services LLC 

c/o CME Group Inc. 
 20 South Wacker Drive 
 Chicago, Illinois 60606 
 Attention: Treasurer 
 Facsimile: (312) 930-3016 
  

 Ex. A-7 

 Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM
(= tenants in common), TENANT (= 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). 
 Assignment Form 
 To assign this
Security, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Security to:	  	  

			
	  
 (Insert assignee’s legal name)
	  	  

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

			
	  
 (Print or type of assignee’s name, address and zip code)
	  	  

	  
 and irrevocably appoint
                     to transfer this Security on the books of the Company. The agent may substitute another to act for
him.

 Date:
                     
  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the face of this Security)

  

			
	Signature Guarantee*:	 	  

 *  Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 
  

 Ex. A-8 

 Option of Holder to Elect Purchase 
 If you want to elect to have only part of the Security purchased by the Company pursuant to Section 1108 of the Indenture, state the
amount you elect to have purchased: 
 $            

 Date:                     

  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the face of this Security)

  

			
	Signature Guarantee*:	 	  

 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 
  

 Ex. A-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 
 The following exchanges of a part of this Global Security for an interest in another Global Security or for a Definitive Security, or
exchanges of a part of another Global Security or Definitive Security for an interest in this Global Security, have been made: 
 Date of
Exchange                      
  

					
	Amount of decrease in
Principal Amount of
this Global Security	 	Amount of increase in
Principal
Amount of
this Global Security	 	Principal Amount of
this Global
Security
following such decrease
(or increase)
		 		 	

  

			
	Signature of authorized officer of Trustee or Custodian	  	  

 * This schedule should be included only if the Security is issued in global form. 
  

 Ex. A-10 

 Notation of Guarantee 
 Pursuant to the Indenture, dated as of March 18, 2010 (the “Indenture”), among CME Group Index Services LLC (the
“Company”), CME Group Inc. (herein called the “Guarantor,” which term includes any successor Person that shall have become such pursuant the applicable provisions of the Indenture) and U.S. Bank National Association, as Trustee,
the Guarantor, subject to the provisions of Article XIV of the Indenture, hereby fully, unconditionally and irrevocably guarantees to each Holder of a Security authenticated and delivered by the Trustee and to the Trustee and its successors and
assigns, irrespective of the validity and enforceability of the Indenture, the Securities or the obligations of the Company thereunder, (i) the full and punctual payment when due, whether at maturity, by acceleration, by redemption or
otherwise, of the principal of and premium, if any, and interest on the Securities and all other monetary obligations of the Company under the Indenture; and (ii) the full and punctual performance within applicable given periods hereunder of
all other obligations of the Company under the Indenture and the Securities. Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantor shall be obligated to pay the same immediately. The
Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 
  

			
	CME GROUP INC.,
	as Guarantor
		
	By:	 	  

		 	Name:
		 	Title:

  

 Ex. A-11 

 EXHIBIT B 
 FORM OF CERTIFICATE OF TRANSFER 
 CME Group Index Services LLC 
 c/o CME Group Inc. 
 20 South Wacker Drive

 Chicago, Illinois 60606 
 Attention:

 U.S. Bank National Association 
 60
Livingston Avenue 
 St. Paul, MN 55107 
 Attn: Transfer Agent Services 
 Re: 4.40% Senior Notes due 2018 
 Ladies and Gentlemen, 
 Reference
is hereby made to the Indenture, dated as of March 18, 2010, between CME Group Index Services LLC, a Delaware limited liability company (the “Company”), CME Group Inc., a Delaware corporation (the “Guarantor”) and U.S. Bank
National Association, as trustee (the “Trustee”), (the “Indenture”). Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.
                                         (the
“Transferor”) owns and proposes to transfer the Securities or interest in such Securities specified in Annex A hereto, in the principal amount of $ in such Securities or interests (the “Transfer”), to
                             (the “Transferee”), as further specified in Annex A hereto. In
connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY] 
 1. Check if Transferee will take delivery of a beneficial interest in the 144A Global Security or a Definitive Security Pursuant to Rule
144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Security is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Definitive Security for its own account, or for one or more accounts with
respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A (a “QIB”) in a transaction meeting the requirements of
Rule 144A and such Security is in compliance with any applicable blue sky securities laws of any State of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Security will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Security and/or the Definitive Security and in the Indenture and the Securities
Act.  [    ] 
 2. Check if Transferee will take delivery of a beneficial interest in the
Regulation S Global Security or a Definitive Security pursuant to Regulation S. The Transfer is being effected

  

 Ex. B-1 

 
pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a person
in the United States and (y) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the
United States or (z) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a
buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904 (b) of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or
scheme to evade the registration requirements of the Securities Act and (iv) if the proposed Transfer is being made prior to the expiration of the Distribution Compliance Period, the Transfer is not being made to a U.S. person (as such is
defined in Regulation S) or for the account or benefit of a U.S. person (other than an initial purchaser of the Securities) and the interest transferred will be held immediately thereafter through Euroclear or Clearstream. Upon consummation of the
proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Security will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Regulation S Global
Security and/or the Definitive Security and in the Indenture and the Securities Act. 
 3. Check and complete if Transferee will
take delivery of a beneficial interest in a Definitive Security pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to
beneficial interests in Restricted Global Securities and Restricted Definitive Securities and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any State of the United States, and accordingly the
Transferor hereby further certifies that (check one): 
  

	[    ]	Such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; or (b) such Transfer is being effected to the Company or a
Subsidiary thereof; or 

  

	[    ]	Such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of
the Securities Act; or 

  

	[    ]	Such Transfer is being effected to an Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than
Rule 144A, Rule 144 or Rule 904, and the Transferor hereby further certifies that it has not engaged in any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions
applicable to beneficial interests in a Restricted Global Security or Restricted Definitive Security and the requirements of the exemption claimed, which certification is supported by a certificate executed by the Transferee in the form attached as
Exhibit D to the Indenture. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the Definitive Security will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the
Definitive Security and in the Indenture and the Securities Act. 

  

 Ex. B-2 

 4. Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global
Security or of an Unrestricted Definitive Security.  [    ] 
 (a) Check if Transfer is pursuant
to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any
State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Security will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Securities,
on Restricted Definitive Securities and in the Indenture and the Securities Act.  [    ] 
 (b)
Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and
any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities
Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Security will no longer be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the Restricted Global Securities, on Restricted Definitive Securities and in the Indenture and the Securities Act.  [    ] 
 (c) Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other
than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Security will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Securities or Restricted Definitive Securities and in the
Indenture.  [    ] 
  

 Ex. B-3 

 This certificate and the statements contained herein are made for your benefit and the
benefit of the Company. 
 Dated:
                     
  

			
	  

	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:

  

 Ex. B-4 

 ANNEX A TO CERTIFICATE OF TRANSFER 
  

	1.	The Transferor owns and proposed to transfer the following: [CHECK ONE OF (a) OR (b)] 

  

	 	(a)	[    ] a beneficial interest in the: 

  

	 	(i)	[    ] 144A Global Security (CUSIP             ), or 

  

	 	(ii)	[    ] Regulation S Global Security (CUSIP             ), or 

 

	 	(b)	[    ] a Restricted Definitive Security. 

  

	2.	After the transfer the Transferee will hold: 

 [CHECK ONE OF (a), (b) OR (b)] 
  

	 	(a)	[    ] a beneficial interest in the: 

  

	 	(i)	[    ] 144A Global Security (CUSIP             ), or 

  

	 	(ii)	[    ] Regulation S Global Security (CUSIP             ), or 

 

	 	(iii)	[    ] Unrestricted Global Security (CUSIP             ); or 

 

	 	(b)	[    ] a Restricted Definitive Security; or 

  

	 	(c)	[    ] an Unrestricted Definitive Security, 

 in accordance with the terms of the Indenture. 
  

 Ex. B-5 

 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 CME Group Index Services LLC 
 c/o CME Group Inc. 
 20 South Wacker Drive

 Chicago, Illinois 60606 
 Attention:

 U.S. Bank National Association 
 60
Livingston Avenue 
 St. Paul, MN 55107 
 Attn: Transfer Agent Services 
 Re: 4.40% Senior Notes due 2018 
 Ladies and Gentlemen, 
 Reference
is hereby made to the Indenture, dated as of March 18, 2010, between CME Group Index Services LLC, a Delaware limited liability company (the “Company”), CME Group Inc., a Delaware corporation (the “Guarantor”) and U.S. Bank
National Association, as trustee (the “Trustee”), (the “Indenture”). Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
                                         
, (the “Owner”) owns and proposes to transfer the Securities or interest in such Securities specified herein, in the principal amount of $             in such Securities or
interests (the “Exchange”). In connection with the Transfer, the Transferor
                             hereby certifies that: 
 1. Exchange of Restricted Definitive Securities or Beneficial Interests in a Restricted Global Security or Unrestricted Definitive Securities or Beneficial
Interests in an Unrestricted Global Security. 
 (a) Check if Exchange is from beneficial interest in a Restricted Global
Security to beneficial interest in an Unrestricted Global Security. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Security for a beneficial interest in an Unrestricted Global Security in an equal
principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to
the Restricted Global Security and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement
Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Security is being acquired in compliance with any applicable blue sky securities laws of any State of the
United States.  [    ] 
  

 Ex. C-1 

 (b) Check if Exchange is from beneficial interest in a Restricted Global Security to
Unrestricted Definitive Security. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Security for an Unrestricted Definitive Security in an equal principal amount, the Owner hereby certifies (i) the
Unrestricted Definitive Security is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Security and pursuant to
and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted
Definitive Security is being acquired in compliance with any applicable blue sky securities laws of any State of the United States.  [    ] 
 (c) Check if Exchange is from Restricted Definitive Security to beneficial interest in an Unrestricted Global Security. In connection with the Owner’s Exchange of a Restricted Definitive Security for
a beneficial interest in an Unrestricted Global Security, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with
the transfer restrictions applicable to Restricted Definitive Securities and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required
in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Security is being acquired in compliance with any applicable blue sky securities laws of any State of the United
States.  [    ] 
 (d) Check if Exchange is from Restricted Definitive Security to Unrestricted
Definitive Security. In connection with the Owner’s Exchange of a Restricted Definitive Security for an Unrestricted Definitive Security, the Owner hereby certifies (i) the Unrestricted Definitive Security is being acquired for the
Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Securities and pursuant to and in accordance with the Securities Act,
(iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Security is being acquired in
compliance with any applicable blue sky securities laws of any State of the United States.  [    ] 
 2. Exchange of Restricted Definitive Securities or Beneficial Interests in Restricted Global Securities for Restricted Definitive Securities or Beneficial Interests in Restricted Global Securities. 
 (a) Check if Exchange is from beneficial interest in a Restricted Global Security to Restricted Definitive Security. In connection with the
Exchange of the Owner’s beneficial interest in a Restricted Global Security for a Restricted Definitive Security with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Security is being acquired for the
Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Security issued will continue to be subject to the restrictions on transfer enumerated in
the Private Placement Legend printed on the Restricted Definitive Security and in the Indenture and the Securities Act.  [    ] 
  

 Ex. C-2 

 (b) Check if Exchange is from Restricted Definitive Security to beneficial interest in a
Restricted Global Security. In connection with the Exchange of the Owner’s Restricted Definitive Security for a beneficial interest in the: [CHECK ONE] [    ] 144A Global Security or [    ] Regulation S
Global Security with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the
transfer restrictions applicable to Restricted Global Securities and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any State of the United States. Upon consummation of the
proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Security and in the
Indenture and the Securities Act. 
 This certificate and the statements contained herein are made for your benefit and the
benefit of the Company. 
  

					
	Dated:	 	  

		 	[Insert Name of Owner]
			
		 	By:	 	  

		 		 	Name:
		 		 	Title:

  

 Ex. C-3 

 EXHIBIT D 
 FORM OF CERTIFICATE FROM ACQUIRING 
 INSTITUTIONAL ACCREDITED INVESTOR 

CME Group Index Services LLC 
 c/o CME Group
Inc. 
 20 South Wacker Drive 
 Chicago,
Illinois 60606 
 Attention: 
 U.S.
Bank National Association 
 60 Livingston Avenue 
 St. Paul, MN 55107 
 Attn: Transfer Agent Services 
 Re: 4.40% Senior Notes due 2018 
 Ladies and Gentlemen, 
 Reference is hereby made to the Indenture, dated as of March 18, 2010, between CME Group
Index Services LLC, a Delaware limited liability company (the “Company”), CME Group Inc., a Delaware corporation (the “Guarantor”) and U.S. Bank National Association, as trustee (the “Trustee”), (the
“Indenture”). Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
 In connection with our proposed purchase of $             aggregate principal amount of: (a) a beneficial interest in a Global Security, or (b) a Definitive Security, we
confirm that: 
 1. We understand that any subsequent transfer of the Securities or any interest therein is subject to certain
restrictions and conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Securities or any interest therein except in compliance with, such restrictions and conditions and
the United States Securities Act of 1933, as amended (the “Securities Act”). 
 2. We understand that the offer and
sale of the Securities have not been registered under the Securities Act, and that the Securities and any interest therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any
accounts for which we are acting as hereinafter stated, that if we should sell the Securities or any interest therein, we will do so only (1) in the United States to a person whom the seller reasonably believes is a “qualified
institutional buyer” (as defined in Rule 144A under the Securities Act) in a transaction meeting the requirements of Rule 144A, (2) outside the United States in an offshore transaction in accordance with Rule 904 under the Securities Act,
(3) pursuant to an exemption from registration under the Securities Act provided by Rule 144 thereunder (if available) or (4) pursuant to an effective registration statement under the Securities

  

 Ex. D-1 

 
Act, in each of cases (1) through (4) in accordance with any applicable securities laws of any state of the United States, and we further agree to notify any purchaser of the Securities
from us of the resale restrictions referred to above. 
 3. We understand that, on any proposed resale of the Securities or
beneficial interest therein, we will be required to furnish to you and the Company such certifications, legal opinions and other information as you and the Company may reasonably require to confirm that the proposed sale complies with the foregoing
restrictions. We further understand that any subsequent transfer by us of the Securities or beneficial interest therein acquired by us must be effected through one of the initial purchasers of the Securities. 
 4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under
the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Securities, and we and any accounts for which we are acting are each able to
bear the economic risk of our or its investment. 
 5. We are acquiring the Securities or beneficial interest therein purchased
by us for our own account or for one or more accounts (each of which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 
 You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. 
 Dated:

  

			
	  

	[Insert Name of Accredited Investor]
		
	By:	 	  

		 	Name:
		 	Title:

  

 Ex. D-2

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