Document:

ex10-2.htm

    
      Exhibit 10.02

      EXHIBIT
E

    

     

    NON-DISCLOSURE,
NON-COMPETITION, NON-SOLICITATION AND

     

    INVENTION
AGREEMENT

    

    This Non-Disclosure, Non-Competition,
Non-Solicitation and Invention Agreement ("this Agreement") between
Innovative Software Technologies, Inc., a Delaware corporation (“Innovative”), The Web Channel
Network, Inc., a Florida corporation wholly-owned by Innovative (“Web Channel”), and Robert W.
Singerman  ("Employee") is hereby entered
into as of June 17, 2009.  (Innovative and Web Channel are
collectively and separately referred to herein as the “Company.”)

    RECITALS:

    

    WHEREAS, as of the date of
this Agreement, the Company and its Affiliates (as defined in Section 1(h)
hereof) are engaged in the business of design, production, marketing,
innovation, licensing, merchandising, strategic direction and on-going
operations of internet protocol television channels   commonly
referred to as WEB Channels, and in the future they may engage in additional
related and unrelated businesses (all such activities collectively being
referred to herein as the "Business");

    

    
      	
              WHEREAS, Employee will
      be employed by the Company, and the Company is and will be in a
      confidential relationship with Employee; and in the course of such
      employment with the Company, Employee will become familiar with and aware
      of information as to the Company’s products and technologies, specific
      manner of doing business, customers and suppliers, contracting activities,
      and future plans with respect thereto, all of which have been and will be
      established and maintained at great expense to the Company and its
      Affiliates; and virtually all of which constitute trade secrets and
      valuable goodwill of the Company;

            

    

    

    
      	
              WHEREAS, Employee
      recognizes that the Business of the Company and its Affiliates depends
      upon the use of certain confidential information, involving (a) trade secrets, and
      (b) other
      information that is (i) of any value or
      significance to the Company and its Affiliates, and (ii) not generally known
      to competitors of the Company nor intended by the Company for general
      dissemination, including (but not limited to) any and all proprietary and
      technical information of the Company involving its business operations,
      products, services, equipment, inventions, referral sources, techniques
      and methods, know-how, operating systems, associated procedures and
      systems, formulae, technology, designs, drawings, engineering, computer
      software, source codes, object codes, accounting and financial data, lists
      of and data concerning current and potential vendors, suppliers and
      customers, pricing and discounting practices, market data, marketing and
      distribution methods and arrangements, marketing materials, sales, costs,
      quality controls, risk management, insurance, finances, capital structure,
      financial models, projections, billings, profits, losses, business
      organization, contracts, agreements, plans, sources of supply, special
      programs relating to sales, project files, prospect reports, service,
      training, and information about the Company itself and its respective
      executives, managers, officers, directors, employees, sales
      representatives, and offers to sell the Company or its assets or to
      purchase or otherwise acquire other business entities or their assets, and
      all related negotiations (collectively, "Confidential
      Information") made available to Employee and that the protection of
      the Confidential Information is of critical importance to the Company and
      its Affiliates;

            

    

    

    
      	
              WHEREAS, Employee has
      agreed to keep in confidence and not use the Confidential Information for
      Employee’s commercial benefit, and recognizes that the Company will
      sustain great loss and damage if Employee should violate the provisions of
      this Agreement and that monetary damages for such losses would be
      extremely difficult to measure;

            

    

    

    WHEREAS, any obligation of
Employee, as set forth in the preceding paragraphs, shall apply to Confidential
Information disclosed in writing and designated or obviously recognizable as
being confidential, or if disclosed orally, any such information that may be
promptly reduced to writing; and

    

    WHEREAS, Employee recognizes
that the training of Employee by the Company, Employee’s access to Confidential
Information, and other investments by the Company in the development of Employee
may be made by the Company in preparation for a sale of substantially all of the
assets of the Company or some other transfer of the Company itself to an
acquiring entity;

    

    NOW, THEREFORE, in
consideration of Employee's employment and continued employment with the
Company, the aforesaid recitals which are incorporated in and are a part of this
Agreement, and the mutual promises, terms, covenants and conditions set forth
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company and Employee hereby
agree as follows:

    

    1. Non-Competition and
Non-Solicitation.

     

    (a) Employee
agrees that he or she shall not, during the term of Employee’s employment with
the Company and for a period of one (1) year following termination of such
employment (the “Noncompete
Period”), alone or by combining or conspiring with others or in any other
manner whatsoever, within the counties and other geographic areas of every state
and territory of the United States in which the Company has or had customers or
any business premises, or otherwise operated the Business:

     

    (i) directly
or indirectly (as defined in Section 1(i) on page 4 below), run, own, manage,
operate, control, be employed by, provide consulting services to, be a manager
of, participate in, lend Employee’s name to, invest in or be connected in any
manner with the management, ownership, operation or control of any business,
venture or activity that (x) competes with the Business or any part thereof as
conducted by the Company, any Affiliate of the Company, or any purchaser of
substantially all of the assets of the Company in order to carry on the Business
(an “Acquiror”) during
the term hereof or at any time after the date hereof or (y) in any way provides
or may provide services similar to those provided by the Company or any of its
Affiliates or an Acquiror that constitute, relate to, or concern the Business
(however, Employee shall not be considered to be in default of this Section 1
solely by virtue of Employee’s holding for portfolio purposes, as a passive
investor, not more than one percent (1%) of the issued and outstanding equity
securities of a corporation, the equity securities of which are listed or quoted
on a national stock exchange or a national over-the-counter
market);

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (ii) directly
or indirectly (as defined in Section 1(i) on page 4 below), without the prior
written consent of the Company, solicit, recruit, offer employment, employ,
engage as a consultant, lure or entice away or in any other manner persuade or
attempt to persuade any person who is an employee or consultant of the Company
or any of its Affiliates, to leave the employ of, or reduce Employee’s services
to, the Company or any of its Affiliates or an Acquiror, unless such person has
been terminated by the Company or any of its Affiliates;

     

    (iii) contact
any past, present or potential customer, vendor or contractor of the Company or
any of its Affiliates or an Acquiror, for the purpose of (1) providing any service
provided by the Company or any of its Affiliates or an Acquiror or (2) inducing or attempting to
induce the entity to cease doing business with the Company or any of its
Affiliates or an Acquiror, or reduce the amount of business previously done or
contemplated to be done by the Company or any of its Affiliates or an Acquiror,
for such entity;

     

    (iv) contact
any past, present or potential vendor, supplier, contractor or other provider to
the Company or any of its Affiliates or an Acquiror, for the purpose of
obtaining any services or commodities if the effect thereof could be expected to
interfere with, disturb, interrupt or reduce the amount or level of such
services or commodities available to the Company or any of its Affiliates or an
Acquiror; or

     

    (v) contact
any prospective acquisition candidate, prospective Acquiror, or potential
business partner of the Company or any of its Affiliates, on Employee’s own
behalf or on behalf of any other person or entity, which acquisition candidate,
prospective Acquiror, or potential business partner was either called upon by
the Company or its Affiliates or for which Employee or the Company or its
Affiliates made an acquisition analysis while Employee was employed by the
Company.

     

    (b) Employee
recognizes and hereby acknowledges that Employee’s breach of any of the
covenants contained in this Section 1 of this Agreement will cause irreparable
harm and damage to the Company or its Affiliates or an Acquiror, the monetary
amount of which may be virtually impossible to ascertain.  As a
result, Employee recognizes and hereby acknowledges that the Company and its
Affiliates and an Acquiror shall be entitled to an injunction from any court of
competent jurisdiction enjoining and restraining any violation of any or all of
the covenants contained in this Section 1 of this Agreement by Employee or any
of Employee’s Affiliates, partners or agents, either directly or indirectly, and
that such right to injunction shall be cumulative and in addition to whatever
other remedies the Company and its Affiliates and an Acquiror may possess at law
or in equity (including, without limitation, damages at law).  This
Section 1, subsection (b) shall survive the termination of Employee’s employment
or this Agreement for any reason.  The provisions of this Agreement
shall be enforceable in law and in equity notwithstanding the existence of any
claim or cause of action by Employee against the Company or its Affiliates or an
Acquiror, whether predicated on this Agreement or otherwise.

     

    (c) The
parties agree that the covenants contained in this Section 1 impose a reasonable
restraint on Employee in light of the Business, and the activities and future
plans of the Company and its Affiliates.  Employee acknowledges that
the restraints in such covenants are necessary to protect the legitimate
business interests of the Company, including, but is not limited to, the
extraordinary and specialized training Employee received while employed by the
Company and Employee’s knowledge of (i) the Company’s trade
secrets and valuable confidential business information that otherwise does not
qualify as trade secrets, and (ii) the Company’s substantial
relationships with specific prospective or existing customers, suppliers, or
joint venturers.

     

    (d) The
covenants in this Section 1 are severable and separate, and the unenforceability
of any specific covenant shall not affect the provisions of any other
covenant.  In the event any court of competent jurisdiction shall
determine that the scope, time or territorial restrictions set forth in this
Section 1 are unreasonable, then it is the intention of the parties that such
restrictions be enforced to the fullest extent which such court deems
reasonable, and the provisions of this Section 1 shall thereby be reformed by
such court so as to rehabilitate the restrictions and the enforcement thereof to
the extent permitted by law.

     

    (e) Each of
the covenants contained in this Section 1 shall be construed as a covenant
independent of any other provision of this Agreement, and the existence of any
claim or cause of action of Employee against the Company or any of its
Affiliates or an Acquiror, whether predicated on this Agreement or otherwise,
shall not constitute a defense to the enforcement by the Company or its
Affiliates or an Acquiror of such covenants.

     

    (f) The
Noncompete Period shall be computed by excluding from such computation any time
during which Employee is in violation of any provision of this Section 1 and any
time during which there is pending in any court of competent jurisdiction any
action (including an appeal from any judgment) brought by any person, whether or
not a party to this Agreement, in which action the Company or any of its
Affiliates or an Acquiror seeks to enforce the covenants contained in this
Section 1 or in which any person contests the validity or enforceability of any
such covenant or seeks to avoid the performance or enforcement of any such
covenant if such action shall be settled with the consent of Employee or shall
be resolved in a manner that upholds any of the Company’s or any of its
Affiliate’s or an Acquiror’s claims.

     

    (g) Employee
acknowledges and agrees that the covenants set forth in this Section 1 are a
material and substantial part of this Agreement.

     

    (h) For
purposes of this Agreement, “Affiliate” of any person or
entity shall mean any person, entity or group (currently existing or hereafter
created) controlling, controlled by or under common control with, the specified
person or entity, and “control” of a person or
entity (including, with correlative meaning, the terms “control by” and “under common control with”)
means the power to direct or cause the direction of the management, policies or
affairs of the controlled person, whether through ownership of securities or
partnership or other ownership interests, by contract or otherwise.

     

    (i) For
purposes of Section 1(a)(i) and (ii) of this Agreement, the word “indirectly” shall include
(but not be limited to) acting through, or affecting the Company through, an
intermediary or series of intermediaries, such as the use of or contact with
distributors, independent contractors, or other third parties.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2. Return of
Company Property.  Employee
acknowledges and agrees that all computers, hardware, software, electronic and
telephonic equipment, records, plans, manuals, guides, memoranda, lists,
customer and supplier information, correspondence with customers or
representatives, reports, records, charts, advertising materials, and any data
and other property delivered to or acquired by Employee, by or on behalf of the
Company or any of its Affiliates, or by an agent, representative or customer or
supplier of any of them (including, without limitation, any such customers
obtained by Employee), and all records compiled by Employee which pertain to the
Business shall be and shall remain the property of the Company or its
Affiliates, as the case may be, and be subject at all times to the discretion
and control of the Company and its Affiliates, and shall be delivered promptly
to the Company or such Affiliates, without request, by Employee upon or before
the termination of Employee’s employment with the Company.

     

    3. Inventions
and Other Intellectual Property.  During the course
of Employee’s employment, Employee shall promptly disclose in writing to the
Company any and all conceptions and ideas for inventions, improvements, business
methods and processes, designs, computer software, computer programs, product
developments, regardless whether or not copyrightable, patentable or material,
including the improvement of any of the foregoing, whether completed or not,
which are prepared, developed or conceived by Employee, directly or indirectly,
alone or in conjunction with another while employed by the Company or within six
(6) months thereafter and which are related to the Business or activities or
future plans of the Company or any of its Affiliates, or which Employee
conceives as a result of Employee’s employment with the Company (collectively,
“Proprietary Rights”),
and Employee hereby assigns and agrees to assign all Employee’s interests
therein, royalty-free, to the Company or its nominee.  The foregoing
shall be disclosed whether conceived or developed during working hours or not,
which: (a) result from
any work performed on behalf of the Company, or pursuant to a research project
for the Company, or (b)
relate in any manner to the existing or contemplated business of the Company, or
(c) result from the use
of the Company's time, material, employees, or facilities.  All
copyrightable Proprietary Rights shall be considered to be “works made for
hire.”  Whenever requested to do so by the Company, Employee shall
execute and deliver to the Company any and all applications, assignments or
other instruments and do such other acts that the Company shall request to apply
for and obtain letters patent and copyright registrations of the United States
or any foreign country or to otherwise protect the Company’s interest
therein.  Employee shall also, at the Company's request and expense,
assist in the defense and prosecution of such letters patent, such copyrights or
any trademark applicable to the Company, as may be required by the
Company.  The obligations set forth in this Section 3 shall
continue beyond the termination of Employee's employment with the Company and
shall be binding upon Employee’s assigns, executors, administrators and other
legal representatives.

     

    4. Confidentiality.  Employee shall
not, during the term of this Agreement and thereafter, make any Unauthorized
Disclosure.  For purposes of this Agreement, “Unauthorized Disclosure”
shall mean use by Employee for Employee’s own benefit, or the benefit of
another, or disclosure by Employee to any person other than a person to whom
disclosure is reasonably necessary or appropriate in connection with the
performance by Employee of duties as an employee of the Company or any of its
Affiliates or as may be legally required, of any Confidential Information
relating to the Business or prospects of the Company or any of its Affiliates
(including, without limitation, any information and materials pertaining to any
Proprietary Rights); provided however, that the term Unauthorized Disclosure
shall not apply to any information, knowledge, data or know-how which: (a) hereinafter becomes a part
of the public domain through no fault of Employee; or (b) Employee can demonstrate
was in Employee’s possession prior to the time of disclosure by the Company; or
(c) Employee can
demonstrate was received by Employee from a third party who has not received the
same from the Company; or (d) is approved for disclosure
by prior written consent of the Company; or (e) is required to be
disclosed by court rule or governmental law or regulation, provided that
Employee gives the Company prompt notice of any such requirement and cooperates
with the Company in attempting to limit such disclosure; or (f) is independently developed
by persons not having access to Confidential Information hereunder as shown by
written records.  This confidentiality covenant has no temporal,
geographical or territorial restriction.

     

    5. Representations
of Employee.  Employee confirms
that Employee is not bound by the terms of any agreement or restrictive covenant
with any previous employer or other party which restricts in any way (a) Employee's performance of
Employee’s duties and responsibilities of employment with the Company, (b) Employee's performance of
Employee’s duties and responsibilities under this Agreement, (c) Employee's use or
disclosure of information, or (d) Employee's engagement in
any business, except as may be disclosed in a separate Exhibit A attached to
this Agreement.  Employee has delivered to the Company true and
complete copies of any agreements or restrictive covenants listed on said Exhibit
A.  Employee represents to the Company that Employee's
execution of this Agreement, Employee's employment with the Company and the
performance of Employee's duties and responsibilities in the course of
Employee’s employment with the Company will not violate any obligations Employee
may have to any such previous employer or any other party.  In
Employee's work for the Company, Employee will not disclose or make use of any
information in violation of any agreements with or rights of any such previous
employer or other party, and Employee will not bring to the premises of the
Company or any of its Affiliates any copies or other tangible embodiments of
non-public information belonging to or obtained from any such previous
employment or other party.  Employee agrees to indemnify the Company
for any claim, including, without limitation, attorneys’ fees and expenses of
investigation, by any party that such party may now have or may hereafter come
to have against the Company based upon or arising out of any restrictive
covenant, non-competition agreement or invention or secrecy agreement between
Employee and such prior employer or other party.  Employee agrees that
upon a termination of Employee’s employment by the Company, Employee hereby
authorizes the Company to notify any of Employee’s subsequent employers or other
persons for whom Employee provides services of Employee’s representations,
obligations and restrictions in this Agreement.

     

    6. Complete
Agreement. 
There are no oral representations, understandings or agreements with the
Company or its Affiliates or any of their directors, officers, or
representatives covering the same subject matter as this Agreement, and this
Agreement supersedes any and all prior agreements concerning such subject matter
between Employee and the Company or any of its Affiliates.  This
Agreement is the final, complete and exclusive statement and expression of the
agreement between the Company and Employee and of all the terms of this
Agreement; and it cannot be amended, varied, contradicted or supplemented by
evidence of any prior or contemporaneous oral or written
agreements.  This Agreement may not be later modified except by a
further writing signed by the parties, and no term of this Agreement may be
waived except by a writing signed by the party waiving the benefit of such
terms.

     

    7. No
Waiver.  No waiver by the
parties hereto of any default or breach of any term, condition or covenant of
this Agreement shall be deemed to be a waiver of any subsequent default or
breach of the same or any other term, condition or covenant contained
herein.

     

    8. Assignment;
Binding Effect.  Employee
understands that he has been selected for employment by the Company on the basis
of Employee’s personal qualifications, experience and
skills.  Employee agrees, therefore, that this Agreement and the
rights to Employee’s services may be assigned by the Company at any time without
notice to Employee in connection with a sale or other transfer by the Company of
all or substantially all of its assets, but that Employee cannot assign all or
any portion of this Agreement.  Subject to the preceding two
sentences, this Agreement shall be binding upon and inure to the benefit of the
parties thereto and their respective heirs, successors and
assigns.  It is further understood and agreed that the Company may be
merged or consolidated with another entity and that any such entity shall
automatically succeed to the rights, powers and duties of the Company
hereunder.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    9. Notices. All notices, demands or
communications required or permitted hereunder shall be in
writing.  Any notice, demand or other communication given under this
Agreement shall be deemed to be given if given in writing (including facsimile
or similar transmission) addressed as provided below (or at such other address
as the addressee shall have specified by notice actually received by the other
party) and if either (a) actually delivered in
fully legible form to such address or (b) in the case of a letter
sent by United States mail, five (5) days shall have elapsed after the same
shall have been deposited in the United States mail, with first-class postage
prepaid and sent either by registered or certified mail to:

     

    To the
Company:                                                                 Innovative
Software Technologies, Inc.

    1413 S.
Howard Avenue

    Tampa,
Florida 33606

    

    To
Employee:                                                                        Robert
W. Singerman

    19901
Arbor Path

    Lutz,
Florida, 33559

    

    10. Severability;
Headings.  If any portion of
this Agreement is held invalid or inoperative, the other portions of this
Agreement shall be deemed valid and operative and, so far as is reasonable and
possible, effect shall be given to the intent manifested by the portion held
invalid or inoperative.  The section headings herein are for reference
purposes only and are not intended in any way to describe, interpret, define or
limit the extent or intent of this Agreement or of any part hereof.

     

    11. Gender.  Any pronoun used
herein may be deemed to mean the corresponding masculine, feminine or neuter in
form thereof and the singular form of any nouns and pronouns herein may be
deemed to mean the corresponding plural and vice versa as the case may
require.

     

    12. Governing
Law; Venue; Jurisdiction: and Attorneys Fees.  This Agreement,
in all respects, shall be governed by, construed, and interpreted according to
the laws of the State of Florida, without giving effect to its conflict of law
principles; and each of the parties hereto agrees to submit to the jurisdiction
thereof and agrees that jurisdiction and venue are appropriate in the state and
federal courts serving Hillsborough County, Florida.  In the event
that there is litigation between or among the parties hereto concerning any
aspect of this Agreement, the prevailing party shall be entitled to recover from
the non-prevailing party reasonable attorneys fees and paralegals fees, court
costs, and other expenses incurred by such prevailing party that are incident to
the litigation.

     

    13. No
Contract of Employment.  Nothing in this
Agreement shall be construed as a contract of employment between Employee and
the Company or as a commitment on the part of the Company to retain Employee in
any capacity for any period of time.  Employee acknowledges and agrees
that Employee's employment with the Company is on an at-will basis.

     

    14. Counterparts.  This Agreement
may be executed in one or more counterparts, each of which shall be deemed an
original and all of which together shall be considered one and the same
agreement.

     

    IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the day and year first above
written.

     

    
      	
              “Company”

               

              Innovative
      Software Technologies, Inc.

              The
      WEB Channel Network, Inc.

               

              By:  /s/ Robert V.
      Rudman                      

                    Robert
      V. Rudman, President

            	
              “Employee”

               

               

               

               

              /s/ Robert
      W.
      Singerman                      

              Robert
      W. Singerman

            

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
A

     

    TO

     

     

    NON-DISCLOSURE,  NON-COMPETITION

     

    NON-SOLICITATION  AND  INVENTIONS  AGREEMENT

     

    If Employee is not bound by the terms
of any agreement or restrictive covenant with any previous employer or other
party which restricts in any way (a) the performance of Employee’s duties
and responsibilities of employment with the Company, (b) Employee’s duties and
responsibilities under this Agreement, (c) Employee's use or disclosure of
information, or (d)
Employee's engagement in any business, Employee is requested to write the word
“None” below, followed by Employee’s signature.  The absence of any
information in this Exhibit A, notwithstanding that Employee has not written the
word “None” or signed this page, nevertheless shall confirm that there are no
exceptions to the initial representation made by Employee under Section 5
of this Agreement.Form of Indenture

 Exhibit 4.1 
 VANTAGE DRILLING COMPANY, 
 as Issuer, 
 and 
                                        
 , 
 as Trustee 
 INDENTURE 
 Dated as of
                    , 20     

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	 ARTICLE ONE
  
 DEFINITIONS AND INCORPORATION BY REFERENCE

			
	 SECTION 1.01.
	 	Definitions	  	1
	 SECTION 1.02.
	 	Other Definitions	  	7
	 SECTION 1.03.
	 	Incorporation by Reference of Trust Indenture Act	  	7
	 SECTION 1.04.
	 	Rules of Construction	  	8
	
	 ARTICLE TWO
  
 THE SECURITIES

			
	 SECTION 2.01.
	 	Issuable in Series	  	8
	 SECTION 2.02.
	 	Establishment of Terms of Series of Securities	  	9
	 SECTION 2.03.
	 	Execution and Authentication	  	12
	 SECTION 2.04.
	 	Registrar and Paying Agent	  	13
	 SECTION 2.05.
	 	Paying Agent to Hold Assets in Trust	  	14
	 SECTION 2.06.
	 	Holder Lists	  	15
	 SECTION 2.07.
	 	Transfer and Exchange	  	15
	 SECTION 2.08.
	 	Replacement Securities	  	15
	 SECTION 2.09.
	 	Outstanding Securities	  	16
	 SECTION 2.10.
	 	Treasury Securities	  	17
	 SECTION 2.11.
	 	Temporary Securities	  	17
	 SECTION 2.12.
	 	Cancellation	  	17
	 SECTION 2.13.
	 	Defaulted Interest	  	18
	 SECTION 2.14.
	 	Global Securities	  	18
	 SECTION 2.15.
	 	CUSIP and ISIN Numbers	  	19
	
	 ARTICLE THREE
  
 REDEMPTION

			
	 SECTION 3.01.
	 	Notices to Trustee	  	19
	 SECTION 3.02.
	 	Selection of Securities to be Redeemed	  	20
	 SECTION 3.03.
	 	Notice of Redemption	  	20
	 SECTION 3.04.
	 	Effect of Notice of Redemption	  	22
	 SECTION 3.05.
	 	Deposit of Redemption Price	  	22
	 SECTION 3.06.
	 	Securities Redeemed in Part	  	22

  

 i 

					
	 ARTICLE FOUR
  
 COVENANTS

			
	 SECTION 4.01.
	 	Payment of Principal and Interest	  	22
	 SECTION 4.02.
	 	Maintenance of Office or Agency	  	23
	 SECTION 4.03.
	 	Corporate Existence	  	23
	 SECTION 4.04.
	 	Compliance Certificate	  	24
	 SECTION 4.05.
	 	Waiver of Stay, Extension or Usury Laws	  	24
	 SECTION 4.06.
	 	SEC Reports	  	24
	 SECTION 4.07.
	 	Additional Amounts	  	25
	 SECTION 4.08.
	 	Calculation of Original Issue Discount	  	25
	
	 ARTICLE FIVE
  
 SUCCESSOR CORPORATION

			
	 SECTION 5.01.
	 	Merger, Consolidation, or Sale of Assets	  	25
	
	 ARTICLE SIX
  
 DEFAULT AND REMEDIES

			
	 SECTION 6.01.
	 	Events of Default	  	26
	 SECTION 6.02.
	 	Acceleration	  	27
	 SECTION 6.03.
	 	Other Remedies	  	28
	 SECTION 6.04.
	 	Waiver of Past Defaults	  	28
	 SECTION 6.05.
	 	Control by Majority	  	29
	 SECTION 6.06.
	 	Limitation on Suits	  	29
	 SECTION 6.07.
	 	Rights of Holders to Receive Payment	  	29
	 SECTION 6.08.
	 	Collection Suit by Trustee	  	30
	 SECTION 6.09.
	 	Trustee May File Proofs of Claim	  	30
	 SECTION 6.10.
	 	Priorities	  	30
	 SECTION 6.11.
	 	Undertaking for Costs	  	31
	
	 ARTICLE SEVEN
  
 TRUSTEE

			
	 SECTION 7.01.
	 	Duties of Trustee	  	31
	 SECTION 7.02.
	 	Rights of Trustee	  	32
	 SECTION 7.03.
	 	Individual Rights of Trustee	  	33
	 SECTION 7.04.
	 	Trustee’s Disclaimer	  	34
	 SECTION 7.05.
	 	Notice of Default	  	34
	 SECTION 7.06.
	 	Reports by Trustee to Holders	  	34
	 SECTION 7.07.
	 	Compensation and Indemnity	  	34
	 SECTION 7.08.
	 	Replacement of Trustee	  	35

  

 ii 

					
	 SECTION 7.09.
	  	Successor Trustee by Merger, Etc	  	36
	 SECTION 7.10.
	  	Eligibility; Disqualification	  	36
	 SECTION 7.11.
	  	Preferential Collection of Claims Against the Issuer	  	36
	
	 ARTICLE EIGHT
  
 DISCHARGE OF INDENTURE; DEFEASANCE

			
	 SECTION 8.01.
	  	Termination of the Issuer’s Obligations	  	37
	 SECTION 8.02.
	  	Legal Defeasance and Covenant Defeasance	  	38
	 SECTION 8.03.
	  	Conditions to Legal Defeasance or Covenant Defeasance	  	39
	 SECTION 8.04.
	  	Application of Trust Money	  	40
	 SECTION 8.05.
	  	Repayment to the Issuer	  	41
	 SECTION 8.06.
	  	Reinstatement	  	41
	
	 ARTICLE NINE
  
 AMENDMENTS, SUPPLEMENTS AND WAIVERS

			
	 SECTION 9.01.
	  	Without Consent of Holders	  	41
	 SECTION 9.02.
	  	With Consent of Holders	  	42
	 SECTION 9.03.
	  	Compliance with the Trust Indenture Act	  	44
	 SECTION 9.04.
	  	Revocation and Effect of Consents	  	44
	 SECTION 9.05.
	  	Notation on or Exchange of Securities	  	45
	 SECTION 9.06.
	  	Trustee To Sign Amendments, Etc	  	45
	 SECTION 9.07.
	  	Trustee Protected	  	45
	
	 ARTICLE TEN
  
 MISCELLANEOUS

			
	 SECTION 10.01.
	  	Trust Indenture Act Controls	  	45
	 SECTION 10.02.
	  	Notices	  	45
	 SECTION 10.03.
	  	Communications by Holders with Other Holders	  	47
	 SECTION 10.04.
	  	Certificate and Opinion as to Conditions Precedent	  	47
	 SECTION 10.05.
	  	Statements Required in Certificate or Opinion	  	47
	 SECTION 10.06.
	  	Rules by Trustee and Agents	  	48
	 SECTION 10.07.
	  	Legal Holidays	  	48
	 SECTION 10.08.
	  	Governing Laws	  	48
	 SECTION 10.09.
	  	No Adverse Interpretation of Other Agreements	  	48
	 SECTION 10.10.
	  	No Recourse Against Others	  	48
	 SECTION 10.11.
	  	Successors	  	48
	 SECTION 10.12.
	  	Duplicate Originals	  	48
	 SECTION 10.13.
	  	Severability	  	49
	 SECTION 10.14.
	  	Securities in a Foreign Currency or in ECU	  	49
	 SECTION 10.15.
	  	Judgment Currency	  	49

  

 iii 

					
		  	 ARTICLE ELEVEN
  
 SINKING FUNDS
	  	
			
	 SECTION 11.01.
	  	Applicability of Article	  	50
	 SECTION 11.02.
	  	Satisfaction of Sinking Fund Payments with Securities	  	50
	 SECTION 11.03.
	  	Redemption of Securities for Sinking Fund	  	51

  

 iv 

 CROSS-REFERENCE TABLE 
  

					
	Trust Indenture Act Section	  	 	  	Indenture Section
	§ 310(a)(1)            	  		  	7.10
	(a)(2)            	  		  	7.10
	(a)(3)            	  		  	Not Applicable
	(a)(4)            	  		  	Not Applicable
	(a)(5)            	  		  	7.10
	(b)            	  		  	7.10
	(c)            	  		  	Not Applicable
	§ 311(a)            	  		  	7.11
	(b)            	  		  	7.11
	(c)            	  		  	Not Applicable
	§ 312(a)            	  		  	2.06
	(b)            	  		  	10.03
	(c)            	  		  	10.03
	§ 313(a)            	  		  	7.06
	(b)            	  		  	7.06
	(c)            	  		  	7.06
	(d)            	  		  	7.06
	§ 314(a)            	  		  	4.04, 4.06; 10.05
	(b)            	  		  	Not Applicable
	(c)(1)            	  		  	10.04
	(c)(2)            	  		  	10.04
	(c)(3)            	  		  	Not Applicable
	(d)            	  		  	Not Applicable
	(e)            	  		  	10.05
	(f)            	  		  	Not Applicable
	§ 315(a)            	  		  	7.01
	(b)            	  		  	7.05
	(c)            	  		  	7.01
	(d)            	  		  	7.01
	(e)            	  		  	6.11
	§316(a)(1)(A)            	  		  	6.05
	(a)(1)(B)            	  		  	6.04
	(a)(2)            	  		  	Not Applicable
	(a)(last sentence)            	  		  	2.10
	(b)            	  		  	6.07
	(c)            	  		  	9.04
	§317(a)(1)            	  		  	6.08
	(a)(2)            	  		  	6.09
	(b)            	  		  	2.05
	§318(a)            	  		  	10.01

 Note: This Cross-Reference Table shall not, for any purpose, be deemed to be a part of this Indenture. 

 

 v 

 INDENTURE dated as of
                    , 20     between Vantage Drilling Company, a Cayman Islands exempted company, as Issuer (the
“Issuer”), and                     , as trustee (the “Trustee”). 
 THIS INDENTURE WITNESSETH 
 Each party agrees
as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture: 
 ARTICLE ONE 
 DEFINITIONS AND INCORPORATION BY REFERENCE 
 SECTION 1.01. Definitions.
 Set forth
below are certain defined terms used in this Indenture. 
 “Additional Amounts” means any additional amounts which are
required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Issuer in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders. 
 “Affiliate” of any Person means any other Person which directly or indirectly controls or is controlled by, or is under direct or
indirect common control with, the referenced Person. For purposes of this definition, “control” of a Person shall mean 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 “controlling,” “controlled by,” and “under common control” shall have correlative meanings. 
 “Agent” means any Registrar, Paying Agent or Service Agent. 
 “amend” means to amend, supplement, restate, amend and restate or otherwise modify; and “amendment” shall have a
correlative meaning. 
 “asset” means any asset or property. 
 “Authorized Newspaper” means a newspaper in an official language of the country of publication customarily published at least once a day
for at least five (5) days in each calendar week and of general circulation in the place in connection with which the term is used. If it shall be impractical in the opinion of the Trustee to make any publication of any notice required hereby
in an Authorized Newspaper, any publication or other notice in lieu thereof that is made or given by the Trustee shall constitute a sufficient publication of such notice. 
 “Bankruptcy Law” means Title 11 of the United States Code, as amended, or any similar federal or state law for the relief of debtors. 
 “Bearer Security” means any Security, including any interest coupon appertaining thereto, that does not provide for the identification
of the Holder thereof. 

 “Board of Directors” shall mean, with respect to any Person, (i) in the case of any
corporation, the board of directors of such Person, (ii) in the case of any limited liability company, the board of managers of such Person, (iii) in the case of any partnership, the Board of Directors of the general partner of such
Person, and (iv) in any other case, the functional equivalent of the foregoing. 
 “Board Resolution” means a copy of a
resolution certified by the Secretary or an Assistant Secretary of the Issuer to have been adopted by the Board of Directors of the Issuer or pursuant to authorization by the Board of Directors of the Issuer and to be in full force and effect on the
date of the certificate and delivered to the Trustee. 
 “Business Day” means, unless otherwise provided by a Board
Resolution, a supplemental indenture hereto or an Officers’ Certificate for a particular Series of Securities, a day other than a Saturday, Sunday or other day on which banking institutions in the City of New York, New York are authorized or
required by law to close. 
 “Corporate Trust Office” means the corporate trust office of the Trustee located at
                    , or such other office, designated by the Trustee by written notice to the Issuer, at which at any particular time its
corporate trust business shall be administered. 
 “coupon” means any interest coupon appertaining to a Bearer Security.

 “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

“Default” means (1) any Event of Default or (2) any event, act or condition that, after notice or the passage of time or
both, would be an Event of Default. 
 “Depository” means, with respect to the Securities of any Series issuable or issued
in whole or in part in the form of one or more Global Securities, the Person designated as Depository for such Series by the Issuer, which Depository shall be a clearing agency registered under the Exchange Act, and if at any time there is more than
one such Person, “Depository” as used with respect to the Securities of any Series shall mean the Depository with respect to the Securities of such Series. 
 “Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable upon declaration of acceleration of the maturity thereof pursuant
to Section 6.02. 
 “Dollars” and “$” means the currency of The United States of America. 

“ECU” means the European Currency Unit as determined by the Commission of the European Union. 
 “Equity Interests” of any Person means (1) any and all shares or other equity interests (including common stock, preferred stock,
limited liability company interests and partnership interests) in such Person and (2) all rights to purchase, warrants or options (whether or not currently exercisable), participations or other equivalents of or interests in (however
designated) such shares or other interests in such Person. 
  

 2 

 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. 

“Fair Market Value” means, with respect to any asset, the price (after taking into account any liabilities relating to such assets)
that would be negotiated in an arm’s-length transaction for cash between a willing seller and a willing and able buyer, neither of which is under any compulsion to complete the transaction, as such price is determined in good faith by the Board
of Directors of the Issuer or a duly authorized committee thereof, as evidenced by a resolution of such Board of Directors or committee. 
 “Foreign Currency” means any currency or currency unit or composite currency, including the ECU, issued by a government other than the government of The United States of America. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of
the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment of the accounting
profession of the United States, as in effect from time to time. 
 “Global Security” or “Global
Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.02 evidencing all or part of a Series of Securities, issued to the Depository for such Series or its nominee, and registered
in the name of such Depository or nominee. 
 “guarantee” means a direct or indirect guarantee by any Person of any
Indebtedness of any other Person and includes any obligation, direct or indirect, contingent or otherwise, of such Person: (1) to purchase or pay (or advance or supply funds for the purchase or payment of) Indebtedness of such other Person
(whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services (unless such purchase arrangements are on arm’s-length terms and are entered into in the ordinary course of
business), to take-or-pay, or to maintain financial statement conditions or otherwise); or (2) entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against
loss in respect thereof (in whole or in part), and “guarantee,” when used as a verb, and “guaranteed” have correlative meanings. 
 “Holder” means a Person in whose name a Security is registered or the holder of a Bearer Security (including a coupon). 
 “incur” means, with respect to any Indebtedness or Obligation, incur, create, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to
such Indebtedness or Obligation. 
 “Indebtedness” of any Person at any date means, without duplication: 
  

 3 

 (1)    all liabilities, contingent or otherwise, of such Person for borrowed money
(whether or not the recourse of the lender is to the whole of the assets of such Person or only to a portion thereof); 
 (2)    all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments; 
 (3)    all reimbursement obligations of such Person in respect of letters of credit, letters of guaranty, bankers’ acceptances and similar credit transactions; 
 (4)    all obligations of such Person to pay the deferred and unpaid purchase price of property or services, except (i) trade
payables and accrued expenses incurred by such Person in the ordinary course of business in connection with obtaining goods, materials or services and (ii) customary adjustments of purchase price, contingent payments, earnout payments or
similar obligations of such Person arising under any of the documents pertaining to any acquisition of any Person or assets or Equity Interests of any Person or any sale, transfer or other disposition of assets to any Person; 
 (5)    all Indebtedness of others secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such
Person; 
 (6)    all Indebtedness of others guaranteed by such Person to the extent of such guarantee; provided,
however, that Indebtedness of the Issuer or its Subsidiaries that is guaranteed by the Issuer or the Issuer’s Subsidiaries shall only be counted once in the calculation of the amount of Indebtedness of the Issuer and its Subsidiaries on a
consolidated basis; and 
 (7)    all obligations of such Person under conditional sale or other title retention
agreements relating to assets purchased by such Person. 
 The amount of any Indebtedness which is incurred at a discount to the principal
amount at maturity thereof as of any date shall be deemed to have been incurred at the accreted value thereof as of such date. The amount of Indebtedness of any Person at any date shall be the outstanding balance at such date of all unconditional
obligations as described above, the maximum liability of such Person for any such contingent obligations at such date and, in the case of clause (6), the lesser of (a) the Fair Market Value of any asset subject to a Lien securing the
Indebtedness of others on the date that the Lien attaches and (b) the amount of the Indebtedness secured. 
 “Indenture” means this Indenture, as amended, supplemented or otherwise modified from time to time in accordance with the terms hereof, and shall include the form and terms of particular Series of Securities established as
contemplated hereunder. 
 “interest” with respect to any Discount Security which by its terms bears interest only after a
Maturity Date, means interest payable after such Maturity Date, and, when used with respect to a Security that provides for the payment of Additional Amounts, includes such Additional Amounts. 
  

 4 

 “Issuer” means the party named as such above until a successor replaces it and
thereafter means the successor. 
 “Issuer Order” means a written order signed in the name of the Issuer by an Officer, who
must be the Issuer’s principal executive officer, principal financial officer or principal accounting officer. 
 “Lien” means, with respect to any asset, any mortgage, deed of trust, lien (statutory or other), pledge, lease, easement, restriction, charge, security interest or other encumbrance of any kind or nature in respect of such
asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, and any lease in the nature thereof. 
 “Maturity Date,” when used with respect to any Security or installment of principal thereof, means the date on which the principal of
such Security or such 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, notice of option to elect repayment or otherwise.

 “Obligation” means any principal, interest, penalties, fees, indemnification, reimbursements, costs, expenses, damages
and other liabilities payable under the documentation governing any Indebtedness. 
 “Officer” means any of the following of
the Issuer: the chairman of the board of directors, the chief executive officer, the president, any vice president, the chief financial officer, the treasurer, any assistant treasurer, the secretary or any assistant secretary. 
 “Officers’ Certificate” means a certificate signed by two Officers (on behalf of the Issuer in their representative capacities, and
not in their individual capacities). 
 “Opinion of Counsel” means a written opinion from legal counsel who is reasonably
acceptable to the Trustee. The counsel may (but need not) be an employee of, or counsel to, the Issuer or the Trustee. 
 “Person” means any individual, corporation, partnership, limited liability company, joint venture, incorporated or unincorporated association, joint-stock company, trust, unincorporated organization or government or other
agency or political subdivision thereof or other entity of any kind. 
 “Plan of Liquidation,” with respect to any Person,
means a plan that provides for, contemplates or the effectuation of which is preceded or accompanied by (whether or not substantially contemporaneously, in phases or otherwise): (1) the sale, lease, conveyance or other disposition of all or
substantially all of the assets of such Person otherwise than as an entirety or substantially as an entirety; and (2) the distribution of all or substantially all of the proceeds of such sale, lease, conveyance or other disposition of all or
substantially all of the remaining assets of such Person to holders of Equity Interests of such Person. 
 “principal” of a
Security means the principal of the Security plus, when appropriate, the premium, if any, on the Security. 
  

 5 

 “redeem” means to redeem, repurchase, purchase, defease, retire, discharge or otherwise
acquire or retire for value, and “redemption” has a correlative meaning. 
 “Register” has the meaning set forth
in Section 2.04. 
 “Registered Security” means a Security that is registered on the Register. 
 “Responsible Officer” means, when used with respect to the Trustee, any officer in the Corporate Trust Office or equivalent office,
group or department of the Trustee to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity with the particular subject and shall also mean any officer of the Trustee who shall have direct
responsibility for the administration of this Indenture. 
 “SEC” means the U.S. Securities and Exchange Commission.

 “Securities” means the debentures, notes or other debt instruments of the Issuer of any Series (including coupons, if
any, appurtenant thereto) authenticated and delivered under this Indenture. 
 “Securities Act” means the U.S. Securities
Act of 1933, as amended. 
 “Series” or “Series of Securities” means each series of debentures, notes or
other debt instruments of the Issuer created pursuant to Sections 2.01 and 2.02 hereof. 
 “Stated Maturity” means, with
respect to any installment of interest or principal on any Indebtedness, the date specified in such Security or a coupon representing such installment on which such payment of interest or principal is scheduled to be paid in the documentation
governing such Indebtedness, and shall not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 
 “Subsidiary” means, with respect to any Person: 
 (1)    any corporation, limited liability company, association or other business entity of which more than 50% of the total voting power of the Equity Interests entitled (without regard to the
occurrence of any contingency) to vote in the election of the Board of Directors thereof are at the time owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person (or a combination thereof);
and 
 (2)    any partnership (a) the sole general partner or the managing general partner of which is such Person
or a Subsidiary of such Person or (b) the only general partners of which are such Person or of one or more Subsidiaries of such Person (or any combination thereof). 
 Unless otherwise specified, “Subsidiary” refers to a Subsidiary of the Issuer. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended. 
  

 6 

 “Trustee” means the Person named as the “Trustee” in the first paragraph of
this Indenture until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean each Person who is then a Trustee hereunder, and if at any time there is
more than one such Person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series. 
 “U.S. Government Obligations” means direct, non-callable obligations of, or obligations guaranteed by, the United States of America, and
the payment for which the United States pledges its full faith and credit. 
 SECTION 1.02.    Other Definitions.
  

			
	 TERM
	  	DEFINED IN SECTION
	 “Covenant Defeasance”
	  	8.02
	 “Event of Default”
	  	6.01
	 “Journal”
	  	10.14
	 “Judgment Currency”
	  	10.15
	 “Legal Defeasance”
	  	8.02
	 “mandatory sinking fund payment”
	  	11.01
	 “Market Exchange Rate”
	  	10.14
	 “New York Banking Day”
	  	10.15
	 “optional sinking fund payment”
	  	11.01
	 “Paying Agent”
	  	2.04
	 “Registrar”
	  	2.04
	 “Required Currency”
	  	10.15
	 “Service Agent”
	  	2.04
	 “Successor”
	  	5.01

 SECTION 1.03.    Incorporation by Reference of Trust Indenture Act.

 Whenever this Indenture refers to a provision of the Trust Indenture Act, such provision is incorporated by reference in, and made a part
of, this Indenture. The following Trust Indenture Act terms used in this Indenture have the following meanings: 
 “indenture
securities” means the Securities. 
 “indenture security holder” means a Holder. 
 “indenture to be qualified” means this Indenture. 
 “indenture trustee” or “institutional trustee” means the Trustee. 
 “obligor”
on the indenture securities means the Issuer and any other obligor on the Securities. 
  

 7 

 All other Trust Indenture Act terms used in this Indenture that are defined by the Trust Indenture Act,
defined by Trust Indenture Act reference to another statute or defined by SEC rule and not otherwise defined herein have the meanings assigned to them therein. 
 SECTION 1.04.    Rules of Construction.
 Unless the context otherwise requires:

 (1)    a term has the meaning assigned to it; 
 (2)    an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
 (3)    references to “generally accepted accounting principles” and “GAAP” shall mean generally accepted
accounting principles or GAAP in effect as of the time and for the period as to which such accounting principles are to be applied; 
 (4)    “or” is not exclusive; 
 (5)    words in the singular include the plural,
and words in the plural include the singular; 
 (6)    all references in this Indenture to “Articles,”
“Sections” and other subdivisions are to the designated Articles, Sections and provisions of this Indenture, unless otherwise indicated; 
 (7)    provisions apply to successive events and transactions; 
 (8)    “herein,”
“hereof” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; and 
 (9)    the words “including,” “includes” and similar words shall not be limiting and shall be deemed to be followed by “without limitation.” 
 ARTICLE TWO 
 THE SECURITIES 
 SECTION 2.01.    Issuable in Series.
 The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series and the coupons
appertaining to any Bearer Securities of such Series shall be identical except as may be set forth in a Board Resolution, a supplemental indenture or an Officers’ Certificate detailing the adoption of the terms thereof pursuant to the authority
granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board Resolution, supplemental indenture or Officers’ Certificate detailing the adoption of the terms thereof pursuant to authority
granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined. Securities may differ between Series in respect
of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of this Indenture. 
  

 8 

 Unless otherwise provided in the Board Resolution, supplemental indenture or Officers’ Certificate
creating a Series of Bearer Securities, Bearer securities shall have coupons attached. 
 SECTION
2.02.    Establishment of Terms of Series of Securities.
 At or prior to the issuance of any Securities within a
Series, the following shall be established (as to the Series generally, in the case of Section 2.02(a), and either as to such Securities within the Series or as to the Series generally in the case of Sections 2.02(a) through 2.02(dd)) by or
pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate pursuant to authority granted under a Board Resolution: 
 (a)    the title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any other
Series); 
 (b)    the price or prices (expressed as a percentage of the principal amount thereof) at which the
Securities of the Series will be issued; 
 (c)    any limit upon the aggregate principal amount of the Securities of the
Series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to
Section 2.07, 2.08, 2.11, 3.06 or 9.05); 
 (d)    the date or dates on which the principal of the Securities of the
Series is payable; 
 (e)    the Person to whom any interest on any Registered Security of the Series shall be payable,
if other than the Person in whose name that Security is registered at the close of business on the regular record date for such interest, the manner in which, or the Person to whom, any interest on any Bearer Security of the Series shall be payable,
if otherwise than upon presentation and surrender of the coupons appertaining thereto as they severally mature, and the extent to which, or the manner in which, any interest payable on a temporary Global Security on an interest payment date will be
paid; 
 (f)    the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to
determine such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if
any, shall accrue, the date or dates on which such interest, if any, shall commence and be payable, any regular record date for the interest payable on any interest payment date, and the right, if any, of the Issuer to extend the interest payment
periods and the duration of any such extension; 
 (g)    the place or places where the principal of and interest, if
any, on the Securities of the Series shall be payable, where the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Issuer in respect of the Securities of such Series
and this Indenture may be served, and the method of such payment, if by wire transfer, mail or other means; 
  

 9 

 (h)    if applicable, the period or periods within which, the price or prices at
which and the other detailed terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the Issuer; 
 (i)    the obligations, if any, of the Issuer to redeem or purchase the Securities of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the
date or dates on which or period or periods within which, the price or prices at which and the other detailed terms and provisions upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligations;

 (j)    if other than denominations of $1,000 and integral multiples thereof, the denominations in which the Securities
of the Series shall be issuable; 
 (k)    the forms of the Securities of the Series in bearer or fully registered form
(and, if in fully registered form, whether the Securities will be issuable as Global Securities); 
 (l)    if other than
the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable upon acceleration or declaration of acceleration of the maturity thereof pursuant to Section 6.02; 
 (m)    the currency of denomination of the Securities of the Series, which may be in Dollars or any Foreign Currency; 
 (n)    the designation of the currency, currencies or currency units in which payment of the principal (and premium, if any) or
interest or Additional Amounts, if any, on the Securities of the Series will be made; 
 (o)    if payments of principal
of or interest, if any, on the Securities of the Series are to be made in one or more currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments
will be determined; 
 (p)    the terms, if any, of subordination of the Securities of the Series; 
 (q)    the terms, if any, of any guarantee of the Securities of the Series by any of the Issuer’s Subsidiaries, whether any such
guarantee shall be made on a senior or subordinated basis and, if applicable, the terms of subordination of any such guarantee; 
 (r)    any provisions relating to any security provided for the Securities of the Series or any guarantees by any of the Issuer’s Subsidiaries (including any security to be provided by any such Subsidiary
guarantor); 
 (s)    any addition to or change in the Events of Default which applies to any Securities of the Series
and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.02; 
  

 10 

 (t)    any addition to or change in the covenants set forth in Articles Four or Five
that applies to Securities of the Series; 
 (u)    whether Securities of the Series are to be issuable as Registered
Securities, Bearer Securities (with or without coupons) or both; any restrictions applicable to the offer, sale or delivery of Bearer Securities and the terms upon which Bearer Securities of the Series may be exchanged for Registered Securities of
the Series and vice versa (if permitted by applicable laws and regulations); whether any Securities of the Series are to be issuable initially in temporary global form and whether any Securities of the Series are to be issuable in permanent global
form with or without coupons and, if so, whether beneficial owners of interests in any such permanent Global Security may exchange such interests for Securities of such Series and of like tenor of any authorized form and denomination and the
circumstances under which any such exchanges may occur; and, if Registered Securities of the Series are to be issuable as a Global Security, the identity of the depositary for such series; 
 (v)    the date as of which any Bearer Securities of the Series and any temporary Global Security representing outstanding Securities
of the Series shall be dated if other than the date of original issuance of the first Security of the Series to be issued; 
 (w)    the provisions, if any, relating to conversion of any Securities of such Series into Equity Interests, including if applicable, the conversion price, the conversion period, provisions as to whether conversion will
be mandatory, at the option of the Holders thereof or at the option of the Issuer, the events requiring an adjustment of the conversion price and provisions affecting conversion if such Series of Securities are redeemed; 
 (x)    any conversion or exchange features of the Securities of such Series; 
 (y)    any addition to or change in the provisions relating to satisfaction and discharge of Obligations under this Indenture with
respect to the Securities of such Series, or in the provisions relating to legal defeasance or covenant defeasance under this Indenture with respect to the Securities of such Series; 
 (z)    any addition to or change in the provisions relating to modification of this Indenture both with and without the consent of
Holders of the Securities of such Series; 
 (aa)    any other terms or provisions of the Securities of the Series (which
may amend, supplement, modify or delete any provision of this Indenture insofar as it applies to such Series); 
 (bb)    any registrars, paying agents, service agents, depositories, interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such Series if other than those
appointed herein; 
 (cc)    whether and under what circumstances the Issuer will pay Additional Amounts to any Holder
who is not a United States person (including any modification to the definition of such term) in respect of any tax, assessment or governmental charge and, if so, whether the Issuer will have the option to redeem such Securities rather than pay such
Additional Amounts (and the terms of any such option); and 
  

 11 

 (dd)    any other terms of the Series. 
 All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if
so provided by or pursuant to the Board Resolution, supplemental indenture or Officers’ Certificate referred to above. The authorized principal amount of any Series may not be increased to provide for issuances of additional Securities of such
Series, unless otherwise provided in such Board Resolution, supplemental indenture or Officers’ Certificate. 
 If any of the terms of
the Securities of any Series are established by action taken pursuant to one or more Board Resolutions, a copy of an appropriate record of such action(s) shall be certified by the Secretary or an Assistant Secretary of the Issuer and delivered to
the Trustee at or before the delivery of the Officers’ Certificate setting forth the terms of the Securities of such Series. 
 SECTION
2.03.    Execution and Authentication.
 The Securities and any coupons appertaining thereto shall be executed on
behalf of the issuer by an Officer (other than the secretary or an assistant secretary) and attested by its secretary or one of its assistant secretaries. The signatures of any of these individuals on the Securities and coupons may be manual or
facsimile signatures. 
 If an Officer whose signature is on a Security or coupon was an Officer at the time of such execution but no longer
holds that office at the time the Security or coupon is authenticated, the Security or coupon shall nevertheless be valid. 
 A Security
shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 
 The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in a Board Resolution,
a supplemental indenture hereto or an Officers’ Certificate, upon receipt by the Trustee of an Issuer Order. Such Issuer Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Issuer or its duly
authorized agent or agents, which oral instructions shall be promptly confirmed in writing. Each Security shall be dated the date of its authentication unless otherwise provided by a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate. 
 In connection with its original issuance, no Bearer Security shall be mailed or otherwise delivered to any
location in the United States. If any Security shall be represented by a permanent Global Bearer Security, then, for purposes of this Section and Section 2.11, the notation of a beneficial owner’s interest therein upon original issuance of
such Security or upon exchange of a portion of a temporary Global Security shall be deemed to be delivery in connection with its original issuance of such beneficial owner’s interest in such permanent Global Security. Except as permitted by
Section 2.08, the Trustee shall not authenticate and deliver any Bearer Security unless all appurtenant coupons for interest then matured have been detached and cancelled. 
  

 12 

 The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any
limit upon the maximum principal amount for such Series set forth in the Board Resolution, supplemental indenture or Officers’ Certificate delivered pursuant to Section 2.02, except as provided in Section 2.08. 
 Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.02) shall be fully protected in relying
on: (i) the Board Resolution, supplemental indenture or Officers’ Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or of Securities within
that Series, (ii) an Officers’ Certificate complying with Section 10.05, and (iii) an Opinion of Counsel complying with Section 10.05. 
 The Trustee may appoint an authenticating agent reasonably acceptable to the Issuer to authenticate Securities. Unless otherwise provided in the appointment, an authenticating agent may authenticate Securities
whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such authenticating agent. An authenticating agent has the same rights as an Agent to deal with the Issuer and Affiliates of
the Issuer. The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series if the Trustee, being advised by counsel, determines that such action may not lawfully be taken or if the Trustee in good faith shall
determine that such action would expose the Trustee to personal liability. 
 SECTION 2.04.    Registrar and Paying
Agent.
 The Issuer shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such
Series pursuant to Section 2.02, an office or agency where (a) Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”), (b) Securities of such Series may be presented or
surrendered for payment (“Paying Agent”) and (c) notices and demands to or upon the Issuer in respect of the Securities of such Series and this Indenture may be served (“Service Agent”). The Issuer may act as
Registrar or Paying Agent. The Registrar shall keep a register (the “Register”) with respect to each Series of Securities and to their transfer and exchange. The term “Registrar” includes any co-registrar; the term
“Paying Agent” includes any additional paying agent; and the term “Service Agent” includes any additional service agent. The Issuer hereby appoints the Trustee as the initial Registrar, Paying Agent and Service
Agent for each Series unless another Registrar, Paying Agent or Service Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued. The Issuer will give prompt written notice to the Trustee of the name and
address, and any change in the name or address, of each Registrar, Paying Agent or Service Agent. If at any time the Issuer shall fail to maintain any such required Registrar, Paying Agent or Service Agent or shall fail to furnish the Trustee with
the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Issuer hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands. 
 The Issuer may also from time to time designate one or more co-registrars, additional paying agents or
additional service agents and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Issuer 

  

 13 

 
of its obligations to maintain a Registrar, Paying Agent and Service Agent in each place so specified pursuant to Section 2.02 for Securities of any
Series for such purposes. The Issuer will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such co-registrar, additional paying agent or additional service agent.

 If Securities of a Series are issuable as Bearer Securities, the Issuer also will subject to any laws or regulations applicable thereto,
maintain a Paying Agent and Service Agent located outside the United States. Unless otherwise specified with respect to any Securities pursuant to Section 2.02, no payment of principal, premium or interest on or Additional Amounts in respect of
Bearer Securities shall be made at any office or agency of the Issuer in the United States or by check mailed to any address in the United States or by transfer to an account maintained with a bank located in the United States; provided, however,
that, if the Securities of a Series are payable in Dollars, payment of principal of and any premium and interest on any Bearer Security (including any Additional Amounts payable on Securities of such Series pursuant to Section 4.07) shall be
made at the office of the Paying Agent in the Borough of Manhattan, the City of New York, if (but only if) payment in Dollars of the full amount of such principal, premium, interest or Additional Amounts, as the case may be, at all offices or
agencies outside the United States maintained for the purpose by the Issuer in accordance with this Indenture, is illegal or effectively precluded by exchange controls or other similar restrictions. 
 The Issuer shall enter into an appropriate agency agreement with any Agent not a party to this Indenture, which agreement shall implement the provisions
of this Indenture that relate to such Agent. The Issuer shall notify the Trustee, in advance, of the name and address, and any change in the name of address, of any such Agent. If the Issuer fails to maintain a Registrar or Paying Agent, the Trustee
shall act as such. 
 SECTION 2.05.    Paying Agent to Hold Assets in Trust.
 The Issuer shall require each Paying Agent other than the Trustee or the Issuer or any Subsidiary to agree in writing that each Paying Agent shall hold
in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Securities (whether such assets have been distributed to it by the Issuer or any other obligor on the
Securities), and shall notify the Trustee of any Default by the Issuer (or any other obligor on the Securities) in making any such payment. The Issuer at any time may require a Paying Agent to distribute all assets held by it to the Trustee and
account for any assets disbursed, and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for
any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Issuer to the Paying Agent, the Paying Agent shall have no further liability for such assets. If the Issuer or a Subsidiary of the Issuer
acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders of any Series of Securities all money held by it as Paying Agent. 
  

 14 

 SECTION 2.06.    Holder Lists.
 The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of the
Holders of each Series of Securities and shall otherwise comply with Trust Indenture Act § 312(a). If the Trustee is not the Registrar, the Issuer shall furnish to the Trustee at least ten (10) days before each interest payment date with
respect to any Series of Securities and at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of the Holders of such Series of Securities,
which list may be conclusively relied upon by the Trustee. 
 SECTION 2.07.    Transfer and Exchange.

Subject to Section 2.14, where Securities of a Series are presented to the Registrar with a request to register a transfer or to exchange them
for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange as requested if its requirements for such transaction are met; provided, however, that the Securities surrendered
for transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Registrar, duly executed by the Holder thereof or his or her attorney duly authorized in writing. To permit
registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or exchange (except as otherwise
expressly permitted herein), but the Issuer 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 tax or similar governmental charge payable
upon exchanges pursuant to Sections 2.11, 3.06 or 9.05). 
 If (but only if) permitted by the applicable Board Resolution set forth in the
applicable Officers’ Certificate, or in any indenture supplemental hereto, delivered as contemplated by Section 2.02, at the option of the Holder, Bearer Securities of any Series may be exchanged for Registered Securities of the same
Series of any authorized denominations and of a like aggregate principal amount and tenor, upon surrender of the Bearer Securities to be exchanged at any such office or agency, with all unmatured coupons and all matured coupons in default thereto
appertaining. 
 Without the prior written consent of the Issuer, the Registrar shall not be required to register the transfer of or exchange
Securities of any Series (i) during the period beginning at the opening of business fifteen (15) days before the mailing of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on
the day of such mailing, or (ii) selected, called or being called for redemption in whole or in part pursuant to Article Three, except the unredeemed portion of such Securities, if any. 
 SECTION 2.08.    Replacement Securities.
 If a mutilated Security or any Security with a mutilated coupon appertaining to it is surrendered to the Trustee or if the Holder of a Security claims that the Security or any coupon has been lost, destroyed or
wrongfully taken, the Issuer shall issue and the Trustee shall 

  

 15 

 
authenticate and deliver a replacement Security of the same Series if the requirements of Section 8-405 of the Uniform Commercial Code are met and the
Holder satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the Issuer, such Holder shall furnish an indemnity bond sufficient in the judgment of the Issuer and the Trustee to protect the Issuer, the Trustee or
any Agent from any loss which any of them may suffer if a Security or coupon is replaced. The Issuer and the Trustee may each charge such Holder for its reasonable out-of-pocket expenses in replacing a Security pursuant to this Section 2.08,
including reasonable fees and expenses of counsel and of the Trustee. 
 Every replacement Security of any Series with its coupons, if any,
issued pursuant to this Section in lieu of any lost, destroyed or wrongfully taken Security shall constitute an original additional contractual obligation of the Issuer, whether or not the lost, destroyed or wrongfully taken Security or coupon
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 of that Series and its coupons, if any, duly issued hereunder. 
 In case any such mutilated, destroyed, lost or wrongfully taken Security or coupon has become or is about to become due and payable, the Issuer in its
discretion may, instead of issuing a new Security or coupon, pay such Security or coupon; provided, however, that payment of principal of (and premium, if any), any interest on and any Additional Amounts with respect to Bearer Securities shall,
except as otherwise provided in Section 2.04, be payable only at an office or agency located outside the United States and, unless otherwise specified as contemplated by Section 2.02, any interest on Bearer Securities shall be payable only
upon presentation and surrender of the coupons appertaining thereto. 
 The provisions of this Section 2.08 are exclusive and shall
preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of lost, destroyed or wrongfully taken Securities. 
 SECTION 2.09.    Outstanding Securities.
 Subject to Section 2.10, the
Securities outstanding at any time are all the Securities authenticated by the Trustee except those cancelled by it, those delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance
with the provisions hereof and those described in this Section as not outstanding. Subject to Section 2.10, a Security does not cease to be outstanding because the Issuer or any of its Affiliates holds the Security. 
 If a Security is replaced pursuant to Section 2.08 (other than a mutilated Security surrendered for replacement), it ceases to be outstanding unless
a Responsible Officer of the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser. 
 If the
Paying Agent (other than the Issuer, a Subsidiary of the Issuer or an Affiliate of the Issuer) holds on the Maturity Date of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such
Securities of the Series cease to be outstanding and interest on them ceases to accrue. 
  

 16 

 In determining whether the Holders of the requisite principal amount of outstanding Securities have given
any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due
and payable as of the date of such determination upon a declaration of acceleration of the Maturity Date thereof pursuant to Section 6.02. 
 If the principal amount of any Security is considered paid under Section 4.01, it ceases to be outstanding and interest ceases to accrue. If on any redemption date or the Maturity Date the Trustee or Paying Agent (other than the Issuer
or an Affiliate thereof) holds cash in Dollars or U.S. Government Obligations, or a combination thereof, in amounts sufficient to pay all of the principal and interest due on the Securities payable on that date, then on and after that date such
Securities cease to be outstanding and interest on them ceases to accrue. 
 SECTION 2.10.    Treasury Securities.

 In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand,
authorization, direction, notice, consent or waiver Securities of a Series owned by the Issuer or an Affiliate of the Issuer shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any
such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that the Trustee knows are so owned shall be so disregarded. 
 SECTION 2.11.    Temporary Securities.
 Until definitive Securities of a Series
are ready for delivery, the Issuer may prepare and the Trustee shall, upon receipt of an Issuer Order, authenticate temporary Securities, substantially of the tenor of the definitive Securities in lieu of which they are issued, in registered form,
or, if authorized, in bearer form with one or more coupons or without coupons, and with such variations that the Issuer considers appropriate for temporary Securities. Without unreasonable delay, the Issuer shall prepare and the Trustee shall
authenticate definitive Securities of the same Series and Maturity Date in exchange for temporary Securities; provided, however, that no definitive Bearer Security shall be delivered in exchange for a temporary Registered Security; and provided
further that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the conditions set forth in Section 2.03. Until such exchange, temporary Securities shall be entitled to the same
rights, benefits and privileges as definitive Securities of the same Series. 
 SECTION 2.12.    Cancellation.

 The Issuer at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the
Trustee any Securities surrendered to them for transfer, exchange or payment. The Trustee, or at the direction of the Trustee, the Registrar or the Paying Agent (other than the Issuer or a Subsidiary), and no one else, shall cancel and, at the
written direction of the Issuer, shall dispose of all Securities surrendered for transfer, exchange, payment or cancellation in accordance with its customary procedures. Certification of the destruction of all cancelled Securities shall be delivered
to the Issuer upon request by the Issuer. 

  

 17 

 
Subject to Section 2.08, the Issuer may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation. If
the Issuer or any of its Subsidiaries shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the Indebtedness represented by such Securities unless and until the same are surrendered to the Trustee
for cancellation pursuant to this Section 2.12. 
 SECTION 2.13.    Defaulted Interest.
 If the Issuer defaults in a payment of interest on the Securities of any Series, it shall pay the defaulted interest, plus (to the extent lawful) any
interest payable on the defaulted interest, in any lawful manner. The Issuer may pay the defaulted interest to the Persons who are the Holders of the Securities of such Series on a subsequent special record date, which date shall be the fifteenth
(15th) day next preceding the date fixed by the Issuer for the payment of defaulted interest or the next succeeding Business Day if such date is not a Business Day. At least fifteen (15) days before any such subsequent special record date,
the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail to each Holder, with a copy to the Trustee, a notice that states the subsequent special record date, the payment date and
the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. 
 SECTION
2.14.    Global Securities.
 (a)    Terms of Securities. A Board Resolution, a
supplemental indenture hereto or an Officers’ Certificate shall establish whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depository for such Global Security or
Securities. 
 (b)    Transfer and Exchange. Notwithstanding any provisions to the contrary contained in
Section 2.07 of this Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.07 of this Indenture for Securities registered in the names of Holders other than the Depository for such Security or
its nominee only if (i) such Depository notifies the Issuer that it is unwilling or unable to continue as Depository for such Global Security or if at any time such Depository ceases to be a clearing agency registered under the Exchange Act,
and, in either case, the Issuer fails to appoint a successor Depository registered as a clearing agency under the Exchange Act within ninety (90) days of such event, (ii) the Issuer executes and delivers to the Trustee an Officers’
Certificate to the effect that such Global Security shall be so exchangeable or (iii) an Event of Default with respect to the Securities represented by such Global Security shall have happened and be continuing. Any Global Security that is
exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depository shall direct in writing in an aggregate amount equal to the principal amount of the Global Security with like tenor and
terms. Except as provided in this Section 2.14(b), a Global Security may not be transferred except as a whole by the Depository with respect to such Global Security to a nominee of such Depository, by a nominee of such Depository to such
Depository or another nominee of such Depository or by the Depository or any such nominee to a successor Depository or a nominee of such a successor Depository. 
  

 18 

 (c)    Legend. Any Global Security issued hereunder shall bear a legend in
substantially the following form: 
 “This Security is a Global Security within the meaning of the Indenture hereinafter referred to and
is registered in the name of the Depository or a nominee of the Depository. This Security is exchangeable for Securities registered in the name of a Person other than the Depository or its nominee only in the limited circumstances described in the
Indenture, and may not be transferred except as a whole by the Depository to a nominee of the Depository, by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee to a successor
Depository or a nominee of such a successor Depository.” 
 (d)    Acts of Holders. The Depository, as a
Holder, may appoint agents and otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under this Indenture. 
 (e)    Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by
Section 2.02, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof. 
 (f)    Consents, Declaration and Directions. Except as provided in Section 2.09 (last sentence), the Issuer, the Trustee and any Agent shall treat a Person as the Holder of such principal amount of
outstanding Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depository with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions
required to be given by the Holders pursuant to this Indenture. 
 SECTION 2.15.    CUSIP and ISIN
Numbers.
 The Issuer in issuing the Securities may use “CUSIP” or “ISIN” numbers, and if so, the Trustee shall use
the “CUSIP” or “ISIN” numbers in notices of redemption or exchange as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness or accuracy of the
“CUSIP” or “ISIN” numbers printed in the notice or on the Securities, and that reliance may be placed only on the other identification numbers printed on the Securities. The Issuer will promptly notify the Trustee of any change
in the “CUSIP” or “ISIN” numbers. 
 ARTICLE THREE 
 REDEMPTION 
 SECTION 3.01.    Notices to Trustee.

The Issuer may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and
pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series of Securities is redeemable and the Issuer wants or is obligated to redeem prior to
the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee of the redemption date and the principal 

  

 19 

 
amount of Series of Securities to be redeemed. The Issuer shall give the notice of redemption to the Trustee at least forty-five (45) days before the
redemption date (unless a shorter notice shall be agreed to by the Trustee in writing), together with such documentation and records as shall enable the Trustee to select the Securities to be redeemed. 
 SECTION 3.02.    Selection of Securities to be Redeemed.
 Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, if less than
all the Securities of a Series are to be redeemed, the Trustee shall select the Securities of the Series to be redeemed as follows: 
 (1)    if such Securities are listed on a national securities exchange, in compliance with the requirements of the principal national securities exchange on which such Securities are listed; or 
 (2)    if such Securities are not so listed, on a pro rata basis, by lot or by such other method as the Trustee shall deem fair and
appropriate. 
 In the event of partial redemption, the Trustee shall make the selection from Securities of the Series outstanding not
previously called for redemption. The Trustee may select for redemption portions of the principal of Securities of the Series that have denominations larger than $1,000. Securities of the Series and portions of them it selects shall be in amounts of
$1,000 or integral multiples of $1,000 or, with respect to Securities of any Series issuable in other denominations pursuant to SubSection 2.02(i), the minimum principal denomination for each Series and integral multiples thereof. Provisions of
this Indenture that apply to Securities of a Series called for redemption also apply to portions of Securities of that Series called for redemption. 
 SECTION 3.03.    Notice of Redemption.
 Unless otherwise indicated for a
particular Series by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, at least thirty (30) days but not more than sixty (60) days before a redemption date, the Issuer shall mail, or cause to be mailed,
a notice of redemption by first-class mail, postage prepaid, to each Holder whose Securities are to be redeemed and if any Bearer Securities are outstanding, publish on one occasion a notice in an Authorized Newspaper (except that a redemption
referred to in Article Eight may be more than sixty (60) days before the applicable redemption date). At the Issuer’s request, the Trustee shall forward the notice of redemption in the Issuer’s name and at the Issuer’s expense.
Each notice for redemption shall identify the Securities of the Series to be redeemed (including the CUSIP or ISIN number, if any) and shall state: 
 (1)    the date fixed for the redemption of such Securities; 
 (2)    the price fixed for
the redemption of such securities, including accrued interest to the redemption date and Additional Amounts, if any; 
  

 20 

 (3)    if less than all outstanding Securities of any Series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amount) of the particular Security or Securities to be redeemed; 
 (4)    in case any Security is to be redeemed in part only, that on and after the redemption date, upon surrender of such Security, the holder will receive, without a charge, a new Security or Securities of authorized
denominations for the principal amount thereof remaining unredeemed; 
 (5)    that on the redemption date the redemption
price and accrued interest to the redemption date, if any, will become due and payable upon each such Security, or the portion thereof, to be redeemed and, if applicable, that interest thereon shall cease to accrue on and after said date;

 (6)    the place or places of payment where such Securities, together in the case of Bearer Securities with all
coupons appertaining thereto, if any, maturing after the redemption date, are to be surrendered for payment of the redemption price and accrued interest, if any, or for conversion; 
 (7)    that, unless otherwise specified in such notice, Bearer Securities of any Series, if any, surrendered for redemption must be
accompanied by all coupons maturing after the date fixed for redemption or the amount of any such missing coupon or coupons will be deducted from the redemption price, unless security or indemnity satisfactory to the Issuer, the Trustee for such
Series and any Paying Agent is furnished; 
 (8)    If Bearer Securities of any Series are to be redeemed and any
Registered Securities of such Series are not to be redeemed, and if such Bearer Securities may be exchanged for Registered Securities not subject to redemption on the redemption date or otherwise, the last date, as determined by the Issuer, on which
such exchanges may be made; 
 (9)    the CUSIP number of such Security, if any; 
 (10)    if applicable, that a Holder of Securities who desires to convert Securities for redemption must satisfy the requirements of
conversion contained in such Securities, the then existing conversion price or rate and the date and time when the option to convert shall expire; 
 (11)    the name and address of the Paying Agent; 
 (12)    that Securities of the Series
called for redemption must be surrendered to the Paying Agent to collect the redemption price therefor; 
 (13)    that
interest on Securities of the Series called for redemption shall cease to accrue on and after the redemption date thereof, and the only remaining right of the Holders of such Securities shall be to receive payment of the redemption price therefor
upon surrender to the Trustee or Paying Agent of the Securities to be redeemed; and 
  

 21 

 (14)    any other information as may be required by the terms of the particular
Series or the Securities of a Series being redeemed and such other matters as the Issuer shall deem desirable or appropriate. 
 At the
Issuer’s request, the Trustee shall give the notice of redemption in the Issuer’s name and at its expense. 
 Any notice that is
mailed to the Holders of Registered Securities in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives the notice. 
 SECTION 3.04.    Effect of Notice of Redemption.
 Once notice of redemption is mailed or published as provided in accordance with Section 3.03, Securities of a Series called for redemption shall become due and payable on the redemption date and at the redemption
price therefor. A notice of redemption may not be conditional. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date; provided that installments of interest 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 at the close of business on the relevant record date therefor according to their terms and
the terms of this Indenture. 
 SECTION 3.05.    Deposit of Redemption Price.
 On or before 10:00 a.m. New York time on the redemption date, the Issuer shall deposit with the Paying Agent funds sufficient to pay the redemption price
of and accrued and unpaid interest, if any, on all Securities to be redeemed on that date. 
 SECTION
3.06.    Securities Redeemed in Part.
 Upon surrender of a Security that is to be redeemed in part, the notice of
redemption that relates to such Security shall state the portion of the principal amount thereof to be redeemed. A new Security or Securities of the same Series and the same Maturity Date equal in principal amount to the unredeemed portion of the
original Security shall be issued in the name of the Holder thereof upon surrender and cancellation of the original Security surrendered. 
 ARTICLE FOUR 
 COVENANTS 
 SECTION 4.01.    Payment of Principal and Interest.
 The Issuer shall pay or cause to be paid the
principal of (and premium, or any) and interest on and Additional Amounts payable on the Securities of each Series in accordance with the terms of such Securities, any coupons appertaining thereto, and this Indenture. Unless otherwise specified as
contemplated by Section 2.02 with respect to any Series of Securities, any interest due on and any Additional Amounts payable in respect of Bearer Securities on or before Maturity, other than Additional Amounts, if any, payable as provided in
Section 4.07 in respect of principal of (or premium, if any, on) such a Security, shall be payable only upon presentation 

  

 22 

 
and surrender of the several coupons for such interest installments as are evidenced thereby as they severally mature. An installment of principal of (and
premium, if any), or interest on and Additional Amounts payable on, Securities shall be considered paid on the date it is due if the Trustee or the Paying Agent (other than the Issuer or an Affiliate thereof) holds on that date funds designated for
and sufficient to pay the installment. The Paying Agent shall return to the Issuer promptly, and in any event, no later than five (5) Business Days following the date of payment, any money (including accrued interest) that exceeds such amount
of principal and interest paid on the Securities. If a payment date is not a Business Day, at a place of payment, payment may be made at that place on the next succeeding day that is a Business Day, and no interest shall accrue on such payment for
the intervening period. 
 SECTION 4.02.    Maintenance of Office or Agency.
 The Issuer covenants and agrees for the benefit of the Holders of each Series of Securities that it will maintain an office or agency where such
Securities may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuer in respect of such Securities and this Indenture may be served. Unless otherwise indicated for a particular series by a
Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, the issuer shall maintain such offices or agencies in connection with each Series of Securities in the Borough of Manhattan, The City of New York, New York (which
may be an office or drop facility of the Trustee, the Registrar or the Service Agent, as applicable, for such Securities or an Affiliate of such Trustee, the Registrar or the Service Agent, as applicable, for such Securities). The Issuer will give
prompt written notice to the Trustee for such Securities of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish such
Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of such Trustee. 
 The Issuer may also from time to time designate one or more other offices or agencies where Holders of a Series of Securities may be presented or surrendered for any or all such purposes and may from time to time
rescind such designations. The Issuer will give prompt written notice to the Trustee for such Series of Securities of any such designation or rescission and of any change in the location of any such other office or agency. 
 With respect to each Series of Securities, the Issuer hereby designates the Corporate Trust Office of the Trustee for such Securities as one such office
or agency of the Issuer in accordance with Section 2.05 hereof. 
 SECTION 4.03.    Corporate
Existence.
 Except as otherwise permitted by Article Five and the other provisions of this Indenture, the Issuer shall do or cause to be
done all things necessary to preserve and keep in full force and effect its corporate existence and its material rights (charter and statutory) and material franchises; provided, however, that the Issuer shall not be required to preserve any such
right or franchise if the Board of Directors of the Issuer shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Issuer and its Subsidiaries, taken as a whole, or if the failure so to preserve
would not reasonably be expected to have a material adverse effect on the Issuer and its Subsidiaries, taken as a whole. 
  

 23 

 SECTION 4.04.    Compliance Certificate.
 The Issuer and each guarantor of any Series of Securities (to the extent that such guarantor is so required under the Trust Indenture Act) shall deliver
to the Trustee with respect to such Series, within one hundred twenty (120) days after the end of each fiscal year of the Issuer, an Officers’ Certificate stating that, in the course of the performance by the signers of their duties as
Officers of the Issuer, they would normally have knowledge of any Default and whether or not the signers know of any Default that occurred during such fiscal year. If they do know of such a Default, the certificate shall describe the Default, its
status and what action, if any, the Issuer is taking or proposes to take with respect thereto. The Issuer also shall comply with Trust Indenture Act § 314(a)(4). 
 SECTION 4.05.    Waiver of Stay, Extension or Usury Laws.
 The Issuer and each
guarantor, if any, of any Series of Securities covenants (to the extent permitted by applicable law) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or
any usury law or other law that would prohibit or forgive such Issuer or such guarantor from paying all or any portion of the principal of (and premium, if any) and/or interest on and Additional Amounts payable on such Securities or the guarantee,
if any, of any such guarantor as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture, and (to the extent permitted by applicable law) 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. 
 SECTION 4.06.    SEC Reports.
 (a)    Whether or not required by the SEC’s rules and regulations, so long as any Securities of any Series are outstanding, the
Issuer will furnish to the Holders of such Securities, cause the Trustee with respect to such Securities to furnish to the Holders of such Securities, or file electronically with the SEC through the SEC’s Electronic Data Gathering, Analysis and
Retrieval System (or any successor system), within the time periods (including any extensions thereof) specified in the SEC’s rules and regulations: 
 (1)    all quarterly and annual financial information that would be required to be contained in a filing with the SEC on Forms 10-Q and 10-K (or any successor forms) if the Issuer were required to
file these Forms, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual financial statements by the Issuer’s
independent accountants; and 
 (2)    all current reports that would be required to be filed with the
SEC on Form 8-K (or any successor form) if the Issuer were required to file these reports. 
  

 24 

 (b)    In addition, whether or not required by the SEC’s rules and regulations,
the Issuer will file a copy of all of the information and reports referred to in clauses (a)(1) and (a)(2) above with the SEC for public availability within the time periods applicable to the Issuer under Section 13(a) or 15(d) of the Exchange
Act (unless the SEC will not accept the filing, in which case the Issuer shall make the information available to securities analysts and prospective investors upon request). The Issuer also shall comply with the other provisions of Trust Indenture
Act § 314(a). 
 SECTION 4.07.    Additional Amounts. If any Securities of a Series provide for the payment
of Additional Amounts, the Issuer will pay to the Holder of any Security of such Series or any coupon appertaining thereto Additional Amounts as may be specified as contemplated by Section 2.02. 
 The obligations of the Issuer under this Section shall survive any termination, defeasance or discharge of the Indenture or applicable Security.

 SECTION 4.08.    Calculation of Original Issue Discount. The Issuer shall provide to the Trustee on a timely
basis such information as the Trustee requires to enable the Trustee to prepare and file any form required to be submitted by the Issuer with the Internal Revenue Service and the Holders of Securities of any Series relating to original issue
discount, including, without limitation, Form 1099-OID or any successor form. 
 ARTICLE FIVE 
 SUCCESSOR CORPORATION 
 SECTION
5.01.    Merger, Consolidation, or Sale of Assets.
 (a)    The Issuer will not, directly or
indirectly, in a single transaction or a series of related transactions, (1) consolidate or merge with or into any other Person (other than a merger with an Affiliate of the Issuer solely for the purpose of changing the Issuer’s
jurisdiction of incorporation to another State of the United States or forming a direct holding company of the Issuer), or sell, lease, transfer, convey or otherwise dispose of or assign all or substantially all of the assets of the Issuer or the
Issuer and its Subsidiaries (taken as a whole) to any other Person or (2) effect a Plan of Liquidation, unless, in either case: 
 (1)    either: 
 (i)    the Issuer will be the surviving or continuing
corporation; or 
 (ii)    the Person formed by or surviving such consolidation or merger (if not the
Issuer) or to which such sale, lease, conveyance or other disposition shall be made (or, in the case of a Plan of Liquidation, any Person to which assets are transferred) (collectively, the “Successor”) is a corporation organized and
existing under the laws of any State of the United States of America or the District of Columbia, and the Successor expressly assumes, by a supplemental indenture hereto in form and substance satisfactory to the Trustee, all of the Obligations of
the Issuer under the Securities and this Indenture; and 
  

 25 

 (2)    immediately after giving effect to such transaction and the assumption of the
obligations as set forth in clause (a)(1) above, if applicable, and the incurrence of any Indebtedness to be incurred in connection therewith, no Default shall have occurred and be continuing. 
 (b)    For purposes of the foregoing, the sale, lease, transfer, conveyance or other disposition or assignment of all or
substantially all of the assets of one or more of the Issuer’s Subsidiaries, the Equity Interests of which constitute all or substantially all of the assets of the Issuer, will be deemed to be the transfer of all or substantially all of the
assets of the Issuer. 
 (c)    Upon any consolidation, combination or merger of the Issuer, or any sale, lease,
transfer, conveyance or other disposition or assignment of all or substantially all of the assets of the Issuer in accordance with the foregoing, in which the Issuer is not the continuing obligor under the Securities and this Indenture, the
surviving entity formed by such consolidation or into which the Issuer is merged or the entity to which the sale, lease, transfer, conveyance, or other disposition or assignment is made will succeed to, and be substituted for, and may exercise every
right and power of, the Issuer under the Securities and this Indenture with the same effect as if such surviving entity had been named therein as the Issuer, and, except in the case of such a lease, the Issuer will be released from its Obligations
under the Securities and this Indenture. 
 (d)    This Section 5.01 shall not apply to (i) any sale, lease,
transfer, conveyance or other disposition or assignment of assets between or among (A) the Issuer and any of its Subsidiaries or (B) two or more Subsidiaries of the Issuer, or (ii) any merger or consolidation between the Issuer and
any of its Subsidiaries or between any two Subsidiaries of the Issuer. 
 ARTICLE SIX 
 DEFAULT AND REMEDIES 
 SECTION 6.01.    Events of Default.

 “Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following events,
unless in the establishing Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of Default: 
 (1)    failure by the Issuer to pay interest on or any Additional Amounts payable in respect of any of Security of that Series or any
coupon appertaining thereto when such interest, Additional Amounts or coupon become due and payable and the continuance of any such failure for thirty (30) consecutive days; 
 (2)    failure by the Issuer to pay the principal of (or premium, if any, on) any Security of that Series when it becomes due and
payable, whether at Stated Maturity, upon redemption, upon purchase, upon acceleration or otherwise; 
 (3)    failure to
deposit any sinking fund payment, when and as due in respect of any Security of that Series; 
  

 26 

 (4)    failure by the Issuer to comply with any other agreement or covenant in this
Indenture and the continuance of any such failure for sixty (60) consecutive days after notice of such failure has been given to the Issuer by the Trustee or by the Holders of at least twenty-five percent (25%) of the aggregate principal
amount of the Securities of that Series then outstanding; 
 (5)    the Issuer pursuant to or within the meaning of any
Bankruptcy Law: 
 (i)    commences a voluntary case, 
 (ii)    consents to the entry of an order for relief against it in an involuntary case, 
 (iii)    consents to the appointment of a Custodian of it or for all or substantially all of its assets, 

(iv)    makes a general assignment for the benefit of its creditors, or 
 (6)    a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (i)    is for relief against the Issuer as debtor in an involuntary case, 
 (ii)    appoints a Custodian of the Issuer or for all or substantially all of its assets, or 
 (iii)    orders the liquidation of the Issuer, and the order or decree remains unstayed and in effect for ninety
(90) days; or 
 (7)    any other Event of Default provided with respect to Securities of that Series, which is
specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate. 
 SECTION
6.02.    Acceleration.
 If an Event of Default specified in Section 6.01(5) or Section 6.01(6) with
respect to the Issuer occurs, all outstanding Securities shall become immediately due and payable without any further action or notice. If an Event of Default (other than an Event of Default specified in Section 6.01(5) or Section 6.01(6)
with respect to the Issuer) shall have occurred and be continuing under this Indenture and the Securities of any Series, the Trustee, by notice to the Issuer, or the Holders of at least twenty-five percent (25%) in aggregate principal amount of
the Securities of such Series then outstanding by notice to the Issuer and the Trustee, may declare all amounts owing under such Securities of such Series to be due and payable immediately. Upon such acceleration or declaration of acceleration, the
aggregate principal (or, if any Securities of that Series are Discount Securities, such portion of the principal as may be specified in the terms of such Securities) of and accrued and unpaid interest on the outstanding Securities of such Series
shall immediately become due and payable; provided, however, that after such acceleration or declaration of acceleration, but before a judgment or decree based on acceleration or declaration of acceleration, the Holders of a majority in aggregate
principal amount of such outstanding Securities of such Series may rescind and annul such acceleration or declaration of acceleration: 
  

 27 

 (1)    if the rescission would not conflict with any judgment or decree; 

(2)    if all existing Defaults have been cured or waived (except nonpayment of principal and interest that has become due solely
because of this acceleration); 
 (3)    to the extent the payment of such interest is lawful, interest on overdue
installments of interest on and any Additional Amounts with respect to all outstanding Securities of that Series and any related coupons has been paid, and all and overdue principal (and premium, if any), which has become due (otherwise than by such
declaration of acceleration), has been paid; 
 (4)    if the Issuer has paid to the Trustee its reasonable compensation
and reimbursed the Trustee of its expenses, disbursements and advances; and 
 (5)    in the event of a cure or waiver of
a Default of the type set forth in Section 6.01(5) or Section 6.01(6), the Trustee shall have received an Officers’ Certificate and an Opinion of Counsel that such Default has been cured or waived. 
 No such rescission shall affect any subsequent Default or impair any right consequent thereto. 
 SECTION 6.03.    Other Remedies.
 If a Default with respect to Securities of any Series at the time outstanding occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to collect the payment of principal
of, or interest on, such Securities or to enforce the performance of any provision of such Securities or this Indenture. 
 The Trustee for
such Securities may maintain a proceeding even if it does not possess any of such Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of Securities in exercising any right or remedy accruing
upon a Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Default. No remedy is exclusive of any other remedy. All remedies are cumulative to the extent permitted by law. 
 SECTION 6.04.    Waiver of Past Defaults.
 Holders of at least a majority in aggregate principal amount of the then outstanding Securities of any Series (which may include consents obtained in connection with a tender offer or exchange offer of such
Securities), by notice to the Trustee for such Securities, may, on behalf of all of the Holders of such Securities, waive an existing Default with respect to such Securities and its consequences, except a Default in the payment of principal or
interest on such Securities; provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Securities of any Series may, on behalf of all of the Holders of such Securities, rescind an acceleration of such
Securities and its consequences, including any related payment Default that resulted from such acceleration. When a Default is waived, it is cured and ceases. 
  

 28 

 SECTION 6.05.    Control by Majority.
 (a)    The Holders of at least a majority in aggregate principal amount of the outstanding Securities of any Series may direct the
time, method and place of conducting any proceeding for any remedy available to the Trustee of such Series or exercising any trust or power conferred on it with respect to such Series. Subject to Section 7.01, however, the Trustee may refuse to
follow any direction that conflicts with any law or this Indenture, that the Trustee determines may be unduly prejudicial to the rights of another Holder, or that may involve the Trustee in personal liability; provided, however, that the Trustee may
take any other action deemed proper by the Trustee which is not inconsistent with such direction. 
 (b)    In the event
the Trustee takes any action or follows any direction pursuant to this Indenture, the Trustee shall be entitled to indemnification against any loss or expense caused by taking such action or following such direction. 
 SECTION 6.06.    Limitation on Suits.
 (a)    Subject to Section 6.07, no Holder of any Securities of any Series will have any right to institute any proceeding with respect to this Indenture or such Securities for any remedy
thereunder, unless the Trustee for such Securities: 
 (1)    has failed to act for a period of sixty
(60) consecutive days after receiving notice of a continuing Event of Default from such Holder and a request to act by Holders of at least twenty-five percent (25%) in aggregate principal amount of the outstanding Securities of such
Series; 
 (2)    has been offered indemnity satisfactory to it in its reasonable judgment; and 
 (3)    has not received from the Holders of a majority in aggregate principal amount of the outstanding Securities of such Series a
direction inconsistent with such request. 
 (b)    A Holder of any Securities of any Series may not use this Indenture
to prejudice the rights of another Holder of such Securities of such Series or to obtain a preference or priority over another Holder of Securities of such Series. 
 SECTION 6.07.    Rights of Holders to Receive Payment.
 Notwithstanding any other
provision of this Indenture, the right of any Holder of any Securities of any Series to receive payment of principal of (and premium, if any), and interest on, and any Additional Amounts in respect of, such Securities, on or after the respective due
dates expressed in such Securities (including, if applicable, in connection with an offer to purchase or redeem), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without
the consent of such Holder. 
  

 29 

 SECTION 6.08.    Collection Suit by Trustee.
 If a Default specified in Section 6.01(1), 6.01(2) or 6.01(3) with respect to Securities of any Series occurs and is continuing, the Trustee for
such Securities may recover judgment in its own name and as trustee of an express trust against the Issuer or any other obligor on such Securities for the whole amount of principal (and premium, if any) and accrued interest and any Additional
Amounts, and fees remaining unpaid, together with interest on overdue principal (and premium, if any) and, to the extent that payment of such interest is lawful, interest on overdue installments of interest and any Additional Amounts, in each case
at the rate per annum borne by such Securities and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and
counsel. 
 SECTION 6.09.    Trustee May File Proofs of Claim.
 The Trustee for each Series of Securities may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have
the claims of such Trustee (including any claim for the compensation, expenses, disbursements and advances of such Trustee, its agents and counsel) and the Holders of the Securities for which it acts as trustee allowed in any judicial proceedings
relating to the Issuer (or any other obligor upon such Securities), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any monies or other property payable or deliverable on any such claims, and any
Custodian in any such judicial proceeding is hereby authorized by each Holder of such Securities to make such payments to such Trustee and, in the event that such Trustee shall consent to the making of such payments directly to such Holders, to pay
to such Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel, and any other amounts due such Trustee under this Indenture. Nothing herein contained shall be deemed
to authorize such Trustee to authorize or consent to or accept or adopt on behalf of any Holder for which it acts as trustee any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of such Holder, or
to authorize such Trustee to vote in respect of the claim of any such Holder in any such proceeding. The Trustee shall be entitled to participate as a member of any official committee of creditors in the matters as it deems necessary or advisable.

 SECTION 6.10.    Priorities.
 If the Trustee for any Series of Securities collects any money or property pursuant to this Article Six, it shall pay out the money or property in the following order: 
 First: to the Trustee, its agents and attorneys for amounts due under this Indenture, including payment of all reasonable compensation, expenses and
liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 
 Second: to Holders of such
Securities and coupons for interest accrued and any Additional Amounts payable on such Securities, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for interest and Additional Amounts;
and 
  

 30 

 Third: to Holders of such Securities for principal amounts (and premium, if any) due and unpaid on such
Securities, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal; and 
 Fourth: to the Issuer or, if applicable, any guarantors with respect to such Securities, as their interests may appear, or to such other Person or Persons as a court of competent jurisdiction shall direct. 
 The Trustee, upon prior notice to the Issuer, may fix a record date and payment date for any payment to Holders of Securities pursuant to this
Section 6.10. 
 SECTION 6.11.    Undertaking for Costs.
 In any suit for the enforcement of any right or remedy under this Indenture or in any suit against any Trustee for any action taken or omitted by it as a
Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and
expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Security
pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Securities of any Series. 
 ARTICLE SEVEN 
 TRUSTEE 
 SECTION 7.01.    Duties of Trustee.
 (a)    If a Default has
occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the
conduct of his or her own affairs. 
 (b)    Except during the continuance of a Default: 
 (1)    The Trustee need perform only those duties as are specifically set forth herein or in the Trust Indenture Act, and no duties,
covenants, responsibilities or obligations shall be implied in this Indenture against the Trustee. 
 (2)    In the
absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates (including Officers’ Certificates) or opinions (including Opinions
of Counsel) furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee
shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture. 
  

 31 

 (c)    Notwithstanding anything to the contrary herein, the Trustee may not be
relieved from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (1)    This paragraph does not limit the effect of Section 7.01(b). 
 (2)    The
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts. 
 (3)    The Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.05. 
 (d)    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 of its duties hereunder or to take or omit to take any action under this Indenture or take any action at the request or direction of Holders
if it shall have reasonable grounds for believing that repayment of such funds is not assured to it. 
 (e)    Whether or
not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to this Section 7.01. 
 (f)    The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuer. Money held in trust by the Trustee need not be segregated from other funds
except to the extent required by law. 
 (g)    In the absence of bad faith, negligence or willful misconduct on the part
of the Trustee, the Trustee shall not be responsible for the application of any money by any Paying Agent other than the Trustee. 
 SECTION
7.02.    Rights of Trustee.
 Subject to Section 7.01: 
 (a)    The Trustee may rely conclusively on any resolution, certificate (including any Officers’ Certificate), statement,
instrument, opinion (including any Opinion of Counsel), notice, request, direction, consent, order, bond, debenture, or other paper or document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need
not investigate any fact or matter stated in such document. 
 (b)    Before the Trustee acts or refrains from acting, it
may require an Officers’ Certificate and an Opinion of Counsel, which shall conform to the provisions of Section 10.05. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such
Officers’ Certificate or Opinion of Counsel. 
 (c)    The Trustee may act through its attorneys and agents and
shall not be responsible for the misconduct or negligence of any agent (other than an agent who is an employee of the Trustee) appointed with due care. 
  

 32 

 (d)    The Trustee shall not be liable for any action it takes or omits to take in
good faith which it reasonably believes to be authorized or within its rights or powers under this Indenture. 
 (e)    The Trustee may consult with counsel of its selection and the advice or opinion of such counsel as to matters of law shall be full and complete authorization and protection from liability in respect of any action
taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 
 (f)    The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Holders pursuant to the provisions of this
Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity satisfactory to it against the costs, expenses and liabilities which may be incurred therein or thereby. 
 (g)    The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate
(including any Officers’ Certificate), statement, instrument, opinion (including any Opinion of Counsel), notice, request, direction, consent, order, bond, debenture, 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, upon reasonable notice to the Issuer, to examine the books,
records, and premises of the Issuer, personally or by agent or attorney at the sole cost of the Issuer. 
 (h)    The
Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder. 
 (i)    The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as duties. 
 (j)    Except with respect to Section 4.01 and Section 4.04, the Trustee shall have no duty to inquire as to the performance of the Issuer with respect to the covenants contained in
Article Four. In addition, the Trustee shall not be deemed to have knowledge of any Default except (i) any Default occurring pursuant to Section 4.01, Section 4.04, Section 6.01(1), Section 6.01(2) or Section 6.01(3) or
(ii) any Default of which the Trustee shall have received written notification. 
 (k)    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 to each agent, custodian and
other Person employed to act for it hereunder. 
 SECTION 7.03.    Individual Rights of Trustee.
 The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Issuer or an Affiliate
of the Issuer with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 
  

 33 

 SECTION 7.04.    Trustee’s Disclaimer.
 The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be
accountable for the Issuer’s use of the proceeds from the Securities, and it shall not be responsible for any statement in the Securities other than its authentication. 
 SECTION 7.05.    Notice of Default.
 If a Default occurs and is continuing with respect to the Securities of any Series and the Trustee receives written notice of such Default, the Trustee shall mail to each Holder of the Securities of that Series and,
if any Bearer Securities are outstanding, publish on one occasion in an Authorized Newspaper, notice of a Default within thirty (30) days after it occurs or, if later, 30 days after a Responsible Officer of the Trustee has knowledge of such
Default. Except in the case of a Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as the Board of Directors, the executive committee, or a trust committee of directors
and/or Responsible Officers, of the Trustee in good faith determines that withholding the notice is in the interests of Holders of that Series. 
 SECTION 7.06.    Reports by Trustee to Holders.
 Within sixty (60) days after each January 1,
beginning with January 1, 20    , the Trustee shall, to the extent that any of the events described in Trust Indenture Act § 313(a) occurred within the previous twelve months, but not otherwise, mail to each
Holder a brief report dated as of such date that complies with Trust Indenture Act § 313(a). The Trustee also shall comply with Trust Indenture Act §§ 313(b), 313(c) and 313(d). 
 A copy of each report at the time of its mailing to Holders of any Series shall be filed with the SEC and each stock exchange on which the Securities of
that Series are listed. 
 The Issuer shall notify the Trustee if the Securities of any Series become listed on any securities exchange or of
any delisting thereof. 
 SECTION 7.07.    Compensation and Indemnity.
 The Issuer shall pay to the Trustee from time to time such compensation as the Issuer and the Trustee shall from time to time agree in writing for its
services hereunder. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the Trustee upon request for all reasonable disbursements, expenses and advances
(including reasonable fees and expenses of counsel) incurred or made by it in addition to the compensation for its services, except any such disbursements, expenses and advances as may be attributable to the Trustee’s negligence, bad faith or
willful misconduct. Such expenses shall include the reasonable fees and expenses of the Trustee’s agents and counsel. 
 The Issuer
shall indemnify each of the Trustee or any predecessor Trustee and its agents for, and hold them harmless against, any and all loss, damage, claims (including taxes (other than taxes based upon, measured by or determined by the income of the
Trustee)), liability or expense 

  

 34 

 
incurred by them arising out of or in connection with the acceptance or administration of this trust (including the reasonable costs and expenses of
defending themselves against or investigating any claim or liability in connection with the exercise or performance of any of the Trustee’s rights, powers or duties hereunder), except in each of the foregoing cases to the extent caused by any
negligence, bad faith or willful misconduct on their part. The Trustee shall notify the Issuer promptly of any claim asserted against the Trustee or any of its agents for which it may seek indemnity. The Issuer may, subject to the approval of the
Trustee (which approval shall not be unreasonably withheld), defend the claim and the Trustee shall cooperate in the defense. The Trustee and its agents subject to the claim may have separate counsel and the Issuer shall pay the reasonable fees and
expenses of such counsel; provided, however, that the Issuer will not be required to pay such fees and expenses if, subject to the approval of the Trustee (which approval shall not be unreasonably withheld), it assumes the Trustee’s defense and
there is no conflict of interest between the Issuer and the Trustee and its agents subject to the claim in connection with such defense as reasonably determined by the Trustee. The Issuer need not pay for any settlement made without its written
consent. The Issuer need not reimburse any expense or indemnify against any loss or liability to the extent incurred by the Trustee through its negligence, bad faith or willful misconduct. 
 When the Trustee incurs expenses or renders services after a Default specified in Section 6.01(5) or Section 6.0 1(6) occurs, such expenses and
the compensation for such services shall be paid to the extent allowed under any Bankruptcy Law. 
 Notwithstanding any other provision in
this Indenture, the foregoing provisions of this Section 7.07 shall survive the satisfaction and discharge of this Indenture or the appointment of a successor Trustee. 
 SECTION 7.08.    Replacement of Trustee.
 The Trustee may resign with respect to the Securities of one or more Series by so notifying the Issuer at least thirty (30) days prior to the date of the proposed resignation. The Holders of a majority in
principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Issuer and the Trustee and may appoint a successor Trustee. The Issuer may remove the Trustee with respect to Securities of one
or more Series if: 
  

	 	(1)	the Trustee fails to comply with Section 7.10; 

  

	 	(2)	the Trustee is adjudged a bankrupt or an insolvent; 

  

	 	(3)	a receiver or other public officer takes charge of the Trustee or its property; or 

  

	 	(4)	the Trustee becomes incapable of acting. 

 If the Trustee
retires, whether by resignation or removal, or if a vacancy exists in the office of Trustee for any reason, the Issuer shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one (1) year after the
successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. 
  

 35 

 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to
the Issuer. Immediately after that, after payment of all sums then owing to the Trustee pursuant to Section 7.07, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the
retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A successor Trustee
shall mail notice of its succession to each Holder of each such Series and, if any Bearer Securities are outstanding, publish such notice on one occasion in an Authorized Newspaper. 
 If a successor Trustee with respect to the Securities of any one or more Series does not take office within sixty (60) days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least ten percent (10%) in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of
a successor Trustee at the expense of the Issuer. 
 If the Trustee fails to comply with Section 7.10, any Holder may petition any court
of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 Notwithstanding the appointment of a
successor Trustee pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee. 
 SECTION 7.09.    Successor Trustee by Merger, Etc.
 If the Trustee consolidates
with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the resulting, surviving or transferee corporation without any further act shall, if such resulting, surviving or
transferee corporation is otherwise eligible hereunder, be the successor Trustee; provided, however, that such corporation shall be otherwise qualified and eligible under this Article Seven. 
 SECTION 7.10.    Eligibility; Disqualification.
 The Trustee shall at all times satisfy the requirements of Trust Indenture Act §§ 310(a)(1), 310(a)(2) and 310(a)(5). The Trustee shall have a combined capital and surplus of at least $50,000,000 as set
forth in its most recent published annual report of condition. The Trustee shall comply with Trust Indenture Act § 310(b); provided, however, that there shall be excluded from the operation of Trust Indenture Act § 310(b)(1) any indenture
or indentures under which other securities, or certificates of interest or participation in other securities, of the Issuer are outstanding, if the requirements for such exclusion set forth in Trust Indenture Act § 310(b)(1) are met. The
provisions of Trust Indenture Act § 310 shall apply to the Issuer and any other obligor of the Securities. 
 SECTION
7.11.    Preferential Collection of Claims Against the Issuer.
 The Trustee, in its capacity as Trustee
hereunder, shall comply with Trust Indenture Act § 311(a), excluding any creditor relationship listed in Trust Indenture Act § 311(b). A Trustee who has resigned or been removed shall be subject to Trust Indenture Act § 311(a) to
the extent indicated. 
  

 36 

 ARTICLE EIGHT 
 DISCHARGE OF INDENTURE; DEFEASANCE 
 SECTION 8.01.    Termination of the
Issuer’s Obligations.
 Except as otherwise provided in the last paragraph of this Section 8.01, this Indenture will be
discharged and will cease to be of further effect as to a Series of Securities issued hereunder, when either: 
 (a)    all such Securities and coupons that have been authenticated (except lost, stolen or destroyed Securities or coupons that have been replaced or paid and Securities and coupons for whose payment money has been
deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from this trust), have been delivered to the Trustee for cancellation, or 
 (b)    (1) all such Securities and coupons that have not been delivered to the Trustee for cancellation have become due and payable
by reason of the mailing of a notice of redemption or otherwise or will become due and payable within one year and the Issuer has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the
Holders of such Securities cash in Dollars or U.S. Government Obligations, or a combination thereof, in amounts sufficient (without reinvestment) to pay and discharge the entire Indebtedness (including all principal (and premium, if any) and accrued
interest and Additional Amounts) on such Securities not theretofore delivered to the Trustee for cancellation to the date of maturity or redemption; 
 (2)    the Issuer or any guarantor of such Securities and coupons has paid or caused to be paid all other sums payable by the Issuer under this Indenture; and 
 (3)    the Issuer has delivered irrevocable instructions to the Trustee for such Securities under this Indenture to apply the
deposited money toward the payment of such Securities at maturity or on the date of redemption, as the case may be. 
 In addition, the
Issuer must deliver an Officers’ Certificate and an Opinion of Counsel to the Trustee for such Securities stating that all conditions precedent to satisfaction and discharge have been complied with. 
 In the case of clause (b) of this Section 8.01, and subject to the next sentence and notwithstanding the foregoing paragraph, the Issuer’s
obligations in Sections 2.06, 2.07, 2.08, 2.09, 4.01, 4.02, 4.03 (as to legal existence of the Issuer only), 7.07, 8.05 and 8.06 shall survive until such Securities are no longer outstanding pursuant to the last paragraph of Section 2.09. In
addition, nothing in this Section 8.01 shall be deemed to discharge the obligations in Section 7.07, 8.04(a), 8.05 or 8.06, all of which shall survive the satisfaction and discharge of this Indenture. 
 After such delivery or irrevocable deposit, the Trustee upon request by the Issuer shall acknowledge in writing the discharge of the Issuer’s
obligations under such Securities and coupons and this Indenture except for the surviving obligations specified above. 
  

 37 

 SECTION 8.02.    Legal Defeasance and Covenant Defeasance.
 (a)    The Issuer may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’
Certificate, elect to have either Section 8.02(b) or 8.02(c) applied to all outstanding Securities and any coupons appertaining thereto of any Series upon compliance with the conditions set forth below in this Article Eight. 
 (b)    Upon the Issuer’s exercise under Section 8.02(a) of the option applicable to this Section 8.02(b), the Issuer
and each guarantor, if any, of such Securities and any coupons appertaining thereto will, subject to the satisfaction of the conditions set forth in Section 8.03, be deemed to have been discharged from its or their obligations with respect to
all outstanding Securities of such Series and any coupons appertaining thereto (including the related guarantees, if any) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose,
Legal Defeasance means that the Issuer and such guarantors, if any, will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Securities of such Series and any coupons appertaining thereto (including the
related guarantees, if any), which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.04 and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied
all its or their other obligations under such Securities and any coupons appertaining thereto, such guarantees, if any, and this Indenture (and the Trustee for such Securities, on demand of and at the expense of the Issuer, shall execute proper
instruments acknowledging the same), except for the following provisions which shall survive until otherwise terminated or discharged hereunder: 
 (1)    the rights of Holders of outstanding Securities of such Series and any coupons appertaining thereto to receive, solely from the trust fund described in Section 8.04, and as more fully set forth in
Section 8.04, payments in respect of the principal of (and premium, if any) or interest, if any, on, such Securities and any coupons appertaining thereto when such payments are due; 
 (2)    the Issuer’s obligations with respect to such Securities under Article Two and Section 4.02 hereof; and with respect
to the payment of Additional Amounts, if any, on such Securities; 
 (3)    the rights, powers, trusts, duties and
immunities of the Trustee for such Securities hereunder and the Issuer’s and the guarantors’, if any, obligations in connection therewith; and 
 (4)    the provisions of this Article Eight applicable to Legal Defeasance (including Sections 8.04, 8.05 and 8.06). 
 Subject to compliance with this Article Eight, the Issuer may exercise its option under this Section 8.02(b) notwithstanding the prior exercise of its option under Section 8.02(c) hereof. 
 (c)    Upon the Issuer’s exercise under Section 8.02(a) hereof of the option applicable to this Section 8.02(c), the
Issuer and each of the guarantors, if any, will, subject to the satisfaction of the conditions set forth in Section 8.03 hereof, be released from each of their or its obligations under the covenants specified in a Board Resolution, a
supplemental indenture hereto or an Officers’ Certificate, in accordance with Section 2.02(v), with respect to the outstanding 

  

 38 

 
Securities of the applicable Series and any coupons appertaining thereto on and after the date the conditions set forth in Section 8.03 hereof are
satisfied (hereinafter, “Covenant Defeasance”), and such Securities and any coupons appertaining thereto shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act
of Holders of such Securities and any coupons appertaining thereto (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being understood
that such Securities and any coupons appertaining thereto shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Securities of such Series and any coupons
appertaining thereto, the Issuer may omit to comply with and shall have no obligation or liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default under Section 6.01, but, except as specified above,
the remainder of this Indenture and such Securities and any coupons appertaining thereto will be unaffected thereby. In addition, upon the Issuer’s exercise under Section 8.02(a) of the option applicable to this Section 8.02(c),
subject to the satisfaction of the conditions set forth in Section 8.03, clause (4) of Section 6.01 shall not constitute an Event of Default. 
 SECTION 8.03.    Conditions to Legal Defeasance or Covenant Defeasance.
 In order
to exercise either Legal Defeasance under Section 8.02(b) or Covenant Defeasance under Section 8.02(c) with respect to Securities of any Series: 
 (1)    the Issuer must irrevocably deposit with the Trustee for such Securities, in trust, for the benefit of the Holders of such Securities and any coupons appertaining thereto, money or U.S.
Government Obligations or a combination thereof, in such amounts as will be sufficient (without reinvestment), in the opinion of a nationally recognized firm of independent public accountants selected by the Issuer, to pay the principal of (and
premium, if any) and interest, if any, on, and any mandatory sinking fund payments in respect of, the outstanding Securities of such Series and any coupons appertaining thereto on the stated date for payment thereof or on the applicable redemption
date, as the case may be, and the Issuer must specify whether such Securities and any coupons appertaining thereto are being defeased to such stated date for payment or to a particular redemption date; 
 (2)    in the case of Legal Defeasance, the Issuer shall have delivered to the Trustee for such Securities an Opinion of Counsel in
the United States reasonably acceptable to the Trustee confirming that: 
 (i)    the Issuer has received
from, or there has been published by, the Internal Revenue Service, a ruling, or 
 (ii)    since the
date of this Indenture, there has been a change in the applicable U.S. federal income tax law, 
 in either case to the effect that, and based thereon, the
Holders of the outstanding Securities of such Series and any coupons appertaining thereto will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Legal Defeasance and will be subject to U.S. federal income
tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 
  

 39 

 (3)    in the case of Covenant Defeasance, the Issuer shall have delivered to the
Trustee for such Securities and any coupons appertaining thereto an Opinion of Counsel in the United States reasonably acceptable to the Trustee confirming that the Holders of such Securities and any coupons appertaining thereto will not recognize
income, gain or loss for U.S. federal income tax purposes as a result of such Covenant Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such
Covenant Defeasance had not occurred; 
 (4)    such deposit shall not result in a breach or violation of, or constitute
a default under this Indenture (other than a Default resulting from the borrowing of funds to be applied to such deposit); 
 (5)    the Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any material agreement or instrument to which the Issuer or any of its Subsidiaries is a
party or by which the Issuer or any of its Subsidiaries is bound (other than any such default resulting solely from the borrowing of funds to be applied to such deposit and the grant of any Lien on such deposit in favor of the Trustee and/or the
Holders); 
 (6)    the Issuer shall have delivered to the Trustee for such Securities an Officers’ Certificate
stating that the deposit was not made by the Issuer with the intent of preferring the Holders of such Securities and any coupons appertaining thereto over any other creditors of the Issuer or with the intent of defeating, hindering, delaying or
defrauding any other of its creditors; and 
 (7)    the Issuer shall have delivered to the Trustee for such Securities
an Officers’ Certificate and an Opinion of Counsel, stating, in the case of the Officers’ Certificate, clauses (1) through (6) of this Section 8.03, as applicable, have been complied with and stating, in the case of the
Opinion of Counsel, that the conditions provided for in clause (2) or (3), as applicable, and clause (5) of this Section 8.03 have been complied with. 
 SECTION 8.04.    Application of Trust Money.
 (a)    The
Trustee or Paying Agent shall hold in trust all money and U.S. Government Obligations (including the proceeds thereof) deposited with it pursuant to this Article Eight in respect of the outstanding Securities of any Series and any coupons
appertaining thereto, and shall apply the deposited money and U.S. Government Obligations (including any proceeds thereof) in accordance with this Indenture to the payment of the principal of and the interest on such Securities and any coupons
appertaining thereto. The Trustee shall be under no obligation to invest said money and U.S. Government Obligations (including any proceeds thereof), except as it may agree with the Issuer. 
 (b)    The Issuer will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the money or
U.S. Government Obligations (including any 

  

 40 

 
proceeds thereof) deposited pursuant to Section 8.03, 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 of the applicable Series and any coupons appertaining thereto. 
 (c)    Anything in this Article Eight to the contrary notwithstanding, the Trustee shall promptly deliver or pay to the Issuer from time to time upon the request of the Issuer any money or U.S. Government Obligations
held by it as provided in Section 8.03 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 that would
then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 
 SECTION
8.05.    Repayment to the Issuer.
 Any money deposited with the Trustee or any Paying Agent, or then held by the
Issuer, in trust for the payment of the principal of, premium, if any, or interest on, any Series of Securities and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the
Issuer on its request or (if then held by the Issuer) will be discharged from such trust; and the Holders of such Securities and any coupons appertaining thereto will thereafter be permitted to look only to the Issuer for payment thereof, and all
liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, will 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 Issuer cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be
less than thirty (30) days from the date of such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Issuer. 
 SECTION 8.06.    Reinstatement.
 If the Trustee or Paying Agent is unable to
apply any money or U.S. Government Obligations in accordance with this Article Eight or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the
Issuer’s and any applicable guarantors’ Obligations under this Indenture and the applicable Securities and the guarantees shall be revived and reinstated as though no deposit had occurred pursuant to this Article Eight until such time as
the Trustee or Paying Agent is permitted to apply all such money in accordance with this Article Eight; provided, however, that if the Issuer has made any payment of principal of, premium, if any, or interest on any such Securities following the
reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 
 ARTICLE NINE 
 AMENDMENTS, SUPPLEMENTS AND
WAIVERS 
 SECTION 9.01.    Without Consent of Holders.
  

 41 

 Subject to Section 9.02 of this Indenture, the Issuer and the Trustee may amend or supplement this
Indenture or the Securities of one or more Series without the consent of any Holder: 
 (1)     to cure any ambiguity,
defect or inconsistency; 
 (2)     to provide for uncertificated Securities in addition to or in place of certificated
Securities; 
 (3)     to provide for the assumption of the Issuer’s or a guarantor’s obligations to the
Holders of the Securities in the case of a merger, consolidation or sale of all or substantially all of the assets, in accordance with Article Five; 
 (4)     to add guarantees with respect to the Securities of any Series; 
 (5)     to release any guarantor from its guarantee or any of its other obligations under this Indenture (to the extent permitted by this Indenture); 
 (6)     to make any change that would provide any additional rights or benefits to the Holders of Securities or that does not
adversely affect the legal rights hereunder of any Holder; 
 (7)     to comply with requirements of the SEC in order to
effect or maintain the qualification of this Indenture under the Trust Indenture Act; 
 (8)     to provide for the
issuance of and establish the form and terms and conditions of Securities of any Series as permitted by this Indenture; or 
 (9)     to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more Series 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. 
 Upon the request of
the Issuer accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 7.02(b), the Trustee will join with
the Issuer in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be
obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise. 
 SECTION 9.02.     With Consent of Holders.
 (a) The Issuer and the Trustee may enter into a supplemental
indenture hereto with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection with a
tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating 

  

 42 

 
any of the provisions of this Indenture or of any supplemental indenture hereto or of modifying in any manner the rights of the Holders of each such Series.
Subject to Section 6.07, the Holders of at least a majority in aggregate principal amount of the outstanding Securities of each Series by notice to the Trustee (including waivers obtained in connection with a tender offer or exchange offer for
the Securities of such Series) may waive compliance by the Issuer with any provision of this Indenture or the Securities with respect to such Series without notice to any other Holders. 
 (b)     Notwithstanding Section 9.02(a), without the consent of each Holder affected, no amendment or waiver may (with respect
to any Securities held by a non-consenting Holder): 
 (1)     reduce the principal (or premium, if any) or change the
Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation; 
 (2)     reduce the rate of or amount or interest on any Security or any Additional Amounts in respect thereof, or extend the time for payment of any of the foregoing; 
 (3)     reduce the principal amount of Discount Securities payable upon acceleration of the maturity thereof; 
 (4)     waive a redemption payment with respect to any Security or change any of the provisions with respect to the redemption of any
Securities, except as specifically set forth in the Board Resolution, supplemental indenture or Officers’ Certificate delivered pursuant to Section 2.02; 
 (5)     make the principal of or interest, if any, on any Security payable in money or currency other than that stated in the Security; 
 (6)     if the Securities of such Holder are entitled to the benefit of any guarantee, release any guarantor of such Securities other
than as provided in this Indenture or modify the guarantee in any manner adverse to such Holder; 
 (7)     waive a
Default in the payment of principal of or interest on any Security (except a rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a
waiver of the payment Default that resulted from such acceleration); 
 (8)     change the amount of Securities whose
Holders must consent to an amendment, supplement or waiver; or 
 (9)     make any change in Section 6.07, this
Section 9.02(b), Section 10.14 or Section 10.15. 
 (c)     It shall not be necessary for the consent of
the Holders of Securities under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 
  

 43 

 (d)     A consent to any amendment, supplement or waiver under this Indenture by any
Holder given in connection with an exchange (in the case of an exchange offer) or a tender (in the case of a tender offer) of such Holder’s Securities will not be rendered invalid by such tender or exchange. 
 (e)     After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Issuer shall mail, or cause to
be mailed, to the Holders of Securities affected thereby and, if any Bearer Securities affected thereby are outstanding, publish on one occasion in an Authorized Newspaper, a notice briefly describing the amendment, supplement or waiver. Any failure
of the Issuer to mail or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplement or waiver. 
 SECTION 9.03.     Compliance with the Trust Indenture Act.
 Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies with the
Trust Indenture Act as then in effect. 
 SECTION 9.04.     Revocation and Effect of Consents.
 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every
subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the
consent as to his Security or portion of a Security before the date on which the Trustee receives an Officers’ Certificate certifying that the Holders of the requisite Securities have consented (and not theretofore revoked such consent) to the
amendment, supplement or waiver. 
 The Issuer may, but shall not be obligated to, fix a record date for the purpose of determining the
Holders entitled to consent to any amendment, supplement or waiver, which record date shall be at least thirty (30) days prior to the first solicitation of such consent. If a record date is fixed, then notwithstanding the last sentence of the
immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to revoke any consent previously given, whether or not such Persons continue to be
Holders after such record date. No such consent shall be valid or effective for more than ninety (90) days after such record date. The Issuer shall inform the Trustee in writing of the fixed record date if applicable. 
 After an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless it makes a change described in any of clauses
(1) through (9) of Section 9.02(b), in which case, the amendment, supplement or waiver shall bind only each Holder of Securities who has consented to it and every subsequent Holder of a Securities or portion of Securities that
evidences the same debt as the consenting Holder’s Securities; provided, however, that no such amendment, supplement or waiver shall impair or affect the right of any Holder to receive payment of principal of (or premium, if any), and interest
on and any Additional Amounts in respect thereto, with respect to a Security and any coupons appertaining thereto, on or after the respective due dates therefor, or to bring suit for the enforcement of any such payment on or after such respective
dates without the consent of such Holder. 
  

 44 

 SECTION 9.05.     Notation on or Exchange of Securities.
 If an amendment, supplement or waiver changes the terms of a Security, the Issuer may require the Holder of the Security to deliver it to the Trustee.
The Issuer shall provide the Trustee with an appropriate notation on the Security about the changed terms and cause the Trustee to return it to the Holder at the Issuer’s expense. Alternatively, if the Issuer or the Trustee so determines, the
Issuer in exchange for the Security shall issue, and the Trustee shall authenticate, a new Security that reflects the changed terms. Failure to make the appropriate notation or issue a new Security shall not affect the validity and effect of such
amendment, supplement or waiver. 
 SECTION 9.06.    Trustee To Sign Amendments, Etc.
 The Trustee shall execute any amendment, supplement or waiver authorized pursuant to this Article Nine; provided, however, that the Trustee may, but
shall not be obligated to, execute any such amendment, supplement or waiver which affects the Trustee’s own rights, duties or immunities under this Indenture. The Trustee shall be entitled to receive, and shall be fully protected in relying
upon, an Opinion of Counsel and an Officers’ Certificate each stating that the execution of any amendment, supplement or waiver authorized pursuant to this Article Nine is authorized or permitted by this Indenture and constitutes legal, valid
and binding obligations of the Issuer enforceable in accordance with its terms, subject to customary exceptions. Such Opinion of Counsel shall be at the expense of the Issuer. 
 SECTION 9.07.     Trustee Protected.
 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 7.01) 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 shall sign all
supplemental indentures hereto, except that the Trustee need not sign any supplemental indenture that adversely affects its rights. 
 ARTICLE
TEN 
 MISCELLANEOUS 
 SECTION
10.01.     Trust Indenture Act Controls.
 If any provision of this Indenture limits, qualifies, or conflicts with
another provision which is required or deemed to be included in this Indenture by the Trust Indenture Act, such required or deemed provision shall control. 
 SECTION 10.02.     Notices.
 Any notices or other communications to the Issuer,
any Subsidiary of the Issuer, or the Trustee required or permitted hereunder shall be in writing, and shall be sufficiently given if made by hand delivery, by nationally recognized overnight courier service, by facsimile transmission or registered
or certified mail, postage prepaid, return receipt requested, addressed as follows: 
  

 45 

 if to the Issuer or any of its Subsidiaries: 
 Vantage Drilling Company 
 777 Post Oak
Boulevard, ST 610 
 Houston, Texas 77056 
 Telephone: (281) 404-4700 
 Facsimile: [TO COME] 
 With a copy to (which copy alone shall not constitute notice): 
 Vantage Drilling Company 
 777 Post Oak Boulevard, ST 610 
 Houston,
Texas 77056 
 Telephone: (281) 404-4700 
 Facsimile: [TO COME] 
 And with a copy to (which copy alone shall not constitute notice): 
 Porter & Hedges, L.L.P. 
 Bryan K.
Brown 
 Reliant Energy Plaza 
 1000Main Street, 35th Floor 
 Houston, Texas 77002 
 Telephone:
(713) 226-0600 
 Facsimile: (713) 226-6201 
 if to the Trustee: 
  

							
	 	  		  		  	
	 	  		  		  	
	 	  		  		  	
	 Attention:                                      
 
	  		  		  	
	 Telephone:                                     

	  		  		  	
	Facsimile:                                      
	  		  		  	

 Each of the Issuer (both for itself and any of its Subsidiaries) and the Trustee by written notice
to each other such Person may designate additional or different addresses for notices to such Person. Any notice or communication to the Issuer, any Subsidiary of the Issuer, and the Trustee shall be deemed to have been given or made as of the date
so delivered if personally delivered; when replied to; when receipt is acknowledged, if sent by facsimile transmission during normal business hours of the recipient, or, if not sent during normal business hours of the recipient, on the Business Day
after the day receipt is acknowledged; five (5) calendar days after mailing if sent by registered or certified mail, postage prepaid (except that a notice of change of address shall not be deemed to have been given until actually received by
the addressee); one (1) Business Day after deposit with a nationally recognized overnight courier service guaranteeing overnight delivery of such notice or communication. 
  

 46 

 Any notice or communication to a Holder required or permitted hereunder shall be mailed to the Holder at
the Holder’s address as it appears on the registration books of the Registrar and, if any Bearer Securities are outstanding, published in an Authorized Newspaper. 
 Failure to mail a notice or communication to a Holder of Securities of any Series or any defect in it shall not affect its sufficiency with respect to other Holders of that or any other Series. If a notice or
communication is mailed or published in the manner provided above, within the time prescribed, it is duly given, whether or not the addressee receives it. 
 If the Issuer mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time. 
 SECTION 10.03.     Communications by Holders with Other Holders.
 Holders of any
Series may communicate pursuant to Trust Indenture Act § 312(b) with other Holders of that Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or any other Series. The Issuer, the
Trustee, the Registrar and any other Person shall have the protection of Trust Indenture Act § 312(c). 
 SECTION
10.04.    Certificate and Opinion as to Conditions Precedent.
 Upon any request or application by the Issuer to
the Trustee to take any action under this Indenture, the Issuer shall furnish to the Trustee, at the request of the Trustee: 
 (1)     an Officers’ Certificate, in form and substance reasonably satisfactory to the Trustee, stating that all conditions precedent, if any, to be performed or effected by the Issuer, if any, provided for in this
Indenture relating to the proposed action have been complied with; and 
 (2)     an Opinion of Counsel, in form and
substance reasonably satisfactory to the Trustee, stating that, in the opinion of such counsel, all such conditions precedent, if any, have been complied with. 
 SECTION 10.05.    Statements Required in Certificate or Opinion.
 Each
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than the Officers’ Certificate required by Section 4.04 or a certificate provided pursuant to Trust Indenture Act §
314(a)(4)) shall comply with the provisions of Trust Indenture Act § 314(e) and shall include: 
 (1)     a
statement that the Person making such certificate or opinion has read such covenant or condition; 
 (2)     a brief
statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
  

 47 

 (3)    a statement that, in the opinion of such Person, he has made such examination
or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with or satisfied; and 
 (4)    a statement as to whether or not, in the opinion of each such Person, such condition or covenant has been complied with; provided, however, that with respect to matters of fact, an Opinion
of Counsel may rely on an Officers’ Certificate or certificates of public officials. 
 SECTION 10.06.    Rules
by Trustee and Agents.
 The Trustee may make reasonable rules for action by or a meeting of Holders of one or more Series. Any Agent may
make reasonable rules and set reasonable requirements for its functions. 
 SECTION 10.07.    Legal
Holidays.
 If a payment date is not a Business Day, payment may be made on the next succeeding day that is a Business Day. 

SECTION 10.08.    Governing Laws.
 This Indenture, the Securities, and any guarantees hereunder, will be governed by and construed in accordance with the laws of the State of New York. 
 SECTION 10.09.    No Adverse Interpretation of Other Agreements.
 This Indenture may not be used to interpret another indenture, loan or debt agreement of any of the Issuer or any of its Subsidiaries. Any such
indenture, loan or debt agreement may not be used to interpret this Indenture. 
 SECTION 10.10.    No Recourse
Against Others.
 No director, officer, employee, incorporator, stockholder, member or manager of the Issuer or any Subsidiary shall have
any liability for any obligations of the Issuer or any Subsidiary under the Securities of any Series or this Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation, and no Officer shall have any
personal liability for any Officers’ Certificate signed by such Officer or any inaccuracy therein. Each Holder of Securities of any Series by accepting such Securities waives and releases all such liability. Such waiver and release shall be
part of the consideration for issuance of such Securities. 
 SECTION 10.11.    Successors.
 All agreements of the Issuer or any Subsidiary in this Indenture and the Securities shall bind their respective successors. All agreements of the Trustee
in this Indenture shall bind its successor. 
  

 48 

 SECTION 10.12.    Duplicate Originals.
 All parties may sign any number of copies of this Indenture. Each signed copy or counterpart shall be an original, but all of them together shall
represent the same agreement. 
 SECTION 10.13.    Severability.
 To the extent permitted by applicable law, in case any one or more of the provisions in this Indenture or in the Securities shall be held invalid,
illegal or unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or impaired thereby, it being intended
that all of the provisions hereof shall be enforceable to the full extent permitted by law. 
 SECTION
10.14.    Securities in a Foreign Currency or in ECU.
 Unless otherwise specified in a Board Resolution, a
supplemental indenture hereto or an Officers’ Certificate delivered pursuant to Section 2.02 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the
Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any Series which are denominated
in a coin or currency other than Dollars (including ECUs), then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be that amount of Dollars that could be obtained
for such amount at the Market Exchange Rate at such time. For purposes of this Section 10.14, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City, New York for cable transfers of that currency as
published by the Federal Reserve Bank of New York; provided, however, in the case of ECUs, “Market Exchange Rate” shall mean the rate of exchange determined by the Commission of the European Union (or any successor thereto) as
published in the Official Journal of the European Union (such publication or any successor publication, the “Journal”). If such Market Exchange Rate is not available for any reason with respect to such currency, the Trustee shall
use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York or, in the case of ECUs, the rate of exchange as published in the Journal, as of the most recent available date, or quotations or,
in the case of ECUs, rates of exchange from one or more major banks in The City of New York, New York or in the country of issue of the currency in question or, in the case of ECUs, in Luxembourg or such other quotations or, in the case of ECUs,
rates of exchange as the Trustee, upon consultation with the Issuer, shall deem appropriate. The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency
other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture. 
 All decisions and
determinations of the Trustee regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph shall be in its sole discretion and shall, in the absence of manifest error, to the extent permitted by law, be
conclusive for all purposes and irrevocably binding upon the Issuer and all Holders. 
  

 49 

 SECTION 10.15.    Judgment Currency.
 The Issuer agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in
any court it is necessary to convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the
“Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York, New York the Required Currency with the Judgment Currency on
the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of
New York, New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required
Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with the preceding clause (a) of this Section 10.15), in any currency other than the Required
Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an
alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and
(iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of
New York, New York on which banking institutions are authorized or required by law, regulation or executive order to close. 
 ARTICLE ELEVEN

 SINKING FUNDS 
 SECTION
11.01.    Applicability of Article.
 The provisions of this Article shall be applicable to any sinking fund for
the retirement of the Securities of a Series, except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture. 
 The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is herein referred to as a “mandatory sinking fund payment” and any other amount provided for
by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction
as provided in Section 11.02. Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of the Securities of such Series. 
 SECTION 11.02.    Satisfaction of Sinking Fund Payments with Securities.
 The Issuer may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made pursuant to the
terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is 

  

 50 

 
applicable (other than any of such Securities previously called for mandatory sinking fund redemption) together, in the case of any Bearer Securities of such
Series, with all unmatured coupons appertaining thereto and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the Issuer or redeemed either at the election of the
Issuer pursuant to the terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities,
provided that such Securities have not been previously so credited. Such Securities shall be received by the Trustee, together with an Officers’ Certificate with respect thereto, not later than fifteen (15) days prior to the date on which
the Trustee begins the process of selecting Securities for redemption, and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such
sinking fund payment shall be reduced accordingly. If as a result of the delivery or credit of Securities in lieu of cash payments pursuant to this Section 11.02, the principal amount of Securities of such Series to be redeemed in order to
exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such Series for redemption, except upon receipt of an Issuer Order that such action be taken, and such cash payment shall be held by the Trustee
or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall from time to time upon receipt of an Issuer Order pay over and deliver to the Issuer any cash payment so being
held by the Trustee or such Paying Agent upon delivery by the Issuer to the Trustee of Securities of that Series purchased by the Issuer having an unpaid principal amount equal to the cash payment required to be released to the Issuer. 

SECTION 11.03.    Redemption of Securities for Sinking Fund.
 Not less than forty-five (45) days (unless otherwise indicated in the Board Resolution, supplemental indenture or Officers’ Certificate in
respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Issuer will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund
payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that Series
pursuant to Section 11.02, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Issuer shall thereupon be obligated to pay the amount therein specified. 
 Not less than thirty (30) days (unless otherwise indicated in the Board Resolution, supplemental indenture or Officers’ Certificate in respect
of a particular Series of Securities) before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Issuer in the manner provided in Section 3.03. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated
in Sections 3.04, 3.05 and 3.06. 
  

 51 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed. 
  

			
	 VANTAGE DRILLING COMPANY,
 as Issuer

		
	By:	 	 

			
	Name:	 	 

			
	Its:	 	 
	
	 
	as Trustee
		
	By:	 	 
		 	 Name:
 Its:

  

 52

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]