Document:

Indenture

 Exhibit 4.3 
 KOHL’S CORPORATION 
 TO 

THE BANK OF NEW YORK 
 TRUSTEE 
  

 
 Indenture

 Dated as of December 1, 1995 

 KOHL’S CORPORATION 

Reconciliation and tie between Trust Indenture Act of 1939 and 
 Indenture, dated as of December 1, 1995 
  

					
	 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
	 §311(a)    
	  		  	7.11
	 (b)    
	  		  	7.11
	 (c)    
	  		  	Not Applicable
	 §312(a)    
	  		  	2.6
	 (b)    
	  		  	10.4
	 (c)    
	  		  	10.4
	 §313(a)    
	  		  	7.6
	 (b)    
	  		  	7.6
	 (c)    
	  		  	7.6
	 (d)    
	  		  	7.6
	 §314(a)    
	  		  	4.8 and 4.9
	 (b)    
	  		  	Not Applicable
	 (c)(1)
	  		  	10.5
	 (c)(2)
	  		  	10.5
	 (c)(3)
	  		  	Not Applicable
	 (d)    
	  		  	Not Applicable
	 (e)    
	  		  	10.6
	 (f)    
	  		  	Not Applicable
	 §315(a)    
	  		  	7.1
	 (b)    
	  		  	7.5
		  		  	10.2
	 (c)    
	  		  	7.1
	 (d)    
	  		  	7.1
	 (e)    
	  		  	6.14

					
	 §316(a)          
	  		  	2.10
	 (a)(1)(A)
	  		  	6.2
		  		  	6.12
	 (a)(1)(B)
	  		  	6.13
	 (a)(2)
	  		  	Not Applicable
	 (b)    
	  		  	6.8
	 (c)    
	  		  	2.14.6
		  		  	10.3
	 §317(a)(1)
	  		  	6.3
	 (a)(2)
	  		  	6.4
	 (b)    
	  		  	2.5
	 §318(a)
	  		  	10.1

  
 Note:
This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture. 

 Table of Contents 

 

					
	 	  	Page	 
	 ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
	 SECTION 1.1. Definitions
	  	 	1	  
	 SECTION 1.2. Incorporation by Reference of Trust Indenture Act
	  	 	8	  
	 SECTION 1.3. Rules of Construction
	  	 	9	  
		
	 ARTICLE 2 THE SECURITIES
	  	 	9	  
	 SECTION 2.1. Issuable in Series; Denominations
	  	 	9	  
	 SECTION 2.2. Forms Generally
	  	 	10	  
	 SECTION 2.3. Establishment of Terms of Series of Securities
	  	 	10	  
	 SECTION 2.4. Execution and Authentication
	  	 	12	  
	 SECTION 2.5. Registrar and Paying Agent
	  	 	13	  
	 SECTION 2.6. Paying Agent to Hold Money in Trust
	  	 	14	  
	 SECTION 2.7. Securityholder Lists
	  	 	14	  
	 SECTION 2.8. Transfer and Exchange
	  	 	15	  
	 SECTION 2.9. Replacement Securities
	  	 	15	  
	 SECTION 2.10. Outstanding Securities
	  	 	15	  
	 SECTION 2.11. Treasury Securities
	  	 	16	  
	 SECTION 2.12. Temporary Securities
	  	 	16	  
	 SECTION 2.13. Cancellation
	  	 	16	  
	 SECTION 2.14. Payment of Interest and Defaulted Interest
	  	 	16	  
	 SECTION 2.15. Global Securities
	  	 	17	  
	 SECTION 2.16. CUSIP Numbers
	  	 	19	  
		
	 ARTICLE 3 REDEMPTION
	  	 	19	  
	 SECTION 3.1. Notice to Trustees
	  	 	19	  
	 SECTION 3.2. Selection of Securities to be Redeemed
	  	 	19	  
	 SECTION 3.3. Notice of Redemption
	  	 	19	  
	 SECTION 3.4. Effect of Notice of Redemption
	  	 	20	  
	 SECTION 3.5. Deposit of Redemption Price
	  	 	20	  
	 SECTION 3.6. Securities Redeemed in Part
	  	 	20	  
		
	 ARTICLE 4 COVENANTS
	  	 	21	  
	 SECTION 4.1. Payment of Principal and Interest
	  	 	21	  
	 SECTION 4.2. Corporate Existence
	  	 	21	  
	 SECTION 4.3. Maintenance of Properties
	  	 	21	  
	 SECTION 4.4. Payment of Taxes and Other Claims
	  	 	21	  
	 SECTION 4.5. Restrictions on Liens
	  	 	22	  
	 SECTION 4.6. Restrictions on Sale and Leaseback Transactions
	  	 	23	  
	 SECTION 4.7. Limitations Upon Permitting Restricted Subsidiaries to become Unrestricted Subsidiaries and Unrestricted
Subsidiaries to become Restricted Subsidiaries
	  	 	24	  
	 SECTION 4.8. Compliance Certificate
	  	 	25	  
	 SECTION 4.9. Reports by the Company
	  	 	25	  
		
	 ARTICLE 5 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	  	 	25	  
	 SECTION 5.1. Company May Consolidate, Etc., Only on Certain Terms
	  	 	25	  
	 SECTION 5.2. Successor Corporation Substituted
	  	 	26	  

  
 i 

					
		
	 ARTICLE 6 REMEDIES SECTION
	  	 	26	  
	 SECTION 6.1. Events of Default
	  	 	26	  
	 SECTION 6.2. Acceleration of Maturity; Rescission and Annulment
	  	 	28	  
	 SECTION 6.3. Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	29	  
	 SECTION 6.4. Trustee May File Proofs of Claim
	  	 	30	  
	 SECTION 6.5. Trustee May Enforce Claims Without Possession of Securities
	  	 	30	  
	 SECTION 6.6. Application of Money Collected
	  	 	30	  
	 SECTION 6.7. Limitation on Suits
	  	 	31	  
	 SECTION 6.8. Unconditional Right of Holders to Receive Principal and Interest
	  	 	31	  
	 SECTION 6.9. Restoration of Rights and Remedies
	  	 	32	  
	 SECTION 6.10. Rights and Remedies Cumulative
	  	 	32	  
	 SECTION 6.11. Delay or Omission Not Waiver
	  	 	32	  
	 SECTION 6.12. Control by Holders
	  	 	32	  
	 SECTION 6.13. Waiver of Past Defaults
	  	 	33	  
	 SECTION 6.14. Undertaking for Costs
	  	 	33	  
	 SECTION 6.15. Waiver of Stay or Extension Laws
	  	 	33	  
		
	 ARTICLE 7 TRUSTEE
	  	 	33	  
	 SECTION 7.1. Duties of Trustee
	  	 	33	  
	 SECTION 7.2. Rights of Trustee
	  	 	35	  
	 SECTION 7.3. Individual Rights of Trustee
	  	 	35	  
	 SECTION 7.4. Trustee’s Disclaimer
	  	 	35	  
	 SECTION 7.5. Notice of Defaults
	  	 	35	  
	 SECTION 7.6. Reports by Trustee to Holders
	  	 	36	  
	 SECTION 7.7. Compensation and Indemnity
	  	 	36	  
	 SECTION 7.8. Replacement of Trustee
	  	 	36	  
	 SECTION 7.9. Successor Trustee by Merger, etc.
	  	 	37	  
	 SECTION 7.10. Eligibility; Disqualification
	  	 	38	  
	 SECTION 7.11. Preferential Collection of Claims Against Company
	  	 	38	  
		
	 ARTICLE 8 SATISFACTION AND DISCHARGE
	  	 	38	  
	 SECTION 8.1. Satisfaction and Discharge of Indenture
	  	 	38	  
	 SECTION 8.2. Application of Trust Funds; Indemnification
	  	 	39	  
	 SECTION 8.3. Satisfaction, Discharge and Defeasance of Securities of any Series
	  	 	40	  
	 SECTION 8.4. Defeasance of Certain Obligations
	  	 	41	  
	 SECTION 8.5. Repayment to Company
	  	 	42	  
		
	 ARTICLE 9 AMENDMENTS AND WAIVERS
	  	 	42	  
	 SECTION 9.1. Without Consent of Holders
	  	 	42	  
	 SECTION 9.2. With Consent of Holders
	  	 	43	  
	 SECTION 9.3. Limitations
	  	 	44	  
	 SECTION 9.4. Compliance with Trust Indenture Act
	  	 	44	  
	 SECTION 9.5. Revocation and Effect of Consents
	  	 	45	  
	 SECTION 9.6. Notation on or Exchange of Securities
	  	 	45	  
	 SECTION 9.7. Trustee Protected
	  	 	45	  
		
	 ARTICLE 10 MISCELLANEOUS
	  	 	45	  
	 SECTION 10.1. Trust Indenture Act Controls
	  	 	45	  
	 SECTION 10.2. Notices
	  	 	46	  
	 SECTION 10.3. Acts of Holders; Record Dates
	  	 	46	  

  
 ii 

					
	 SECTION 10.4. Communication by Holders with Other Holders
	  	 	47	  
	 SECTION 10.5. Certificate and Opinion as to Conditions Precedent
	  	 	47	  
	 SECTION 10.6. Statements Required in Certificate or Opinion
	  	 	47	  
	 SECTION 10.7. Rules by Trustee and Agents
	  	 	48	  
	 SECTION 10.8. Legal Holidays
	  	 	48	  
	 SECTION 10.9. Governing Laws
	  	 	48	  
	 SECTION 10.10. No Adverse Interpretation of Other Agreements
	  	 	48	  
	 SECTION 10.11. No Recourse Against Others
	  	 	48	  
	 SECTION 10.12. Duplicate Originals
	  	 	48	  
	 SECTION 10.13. Securities in a Foreign Currency or in ECU
	  	 	48	  
	 SECTION 10.14. Judgment Currency
	  	 	49	  
		
	 ARTICLE 11 SINKING FUNDS
	  	 	50	  
	 SECTION 11.1. Applicability of Article
	  	 	50	  
	 SECTION 11.2. Satisfaction of Sinking Fund Payments with Securities
	  	 	50	  
	 SECTION 11.3. Redemption of Securities for Sinking Fund
	  	 	51	  

  
 iii

 Indenture dated as of December 1, 1995, between KOHL’S CORPORATION, a Wisconsin
corporation (“Company”), and THE BANK OF NEW YORK, a New York banking corporation (“Trustee”). 
 Each party
agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture. 
 ARTICLE 1 
 DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.1. Definitions. 
 “Affiliate” means any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company. For the purposes of this definition,
“control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the
terms “controlling” and “controlled” having meanings correlative to the foregoing. 
 “Agent”
means any Paying Agent, Registrar or co-registrar. 
 “Attributable Debt” in respect of a Sale and Leaseback
Transaction referred to in Section 4.6 means, at the time of determination, the present value (discounted at the imputed rate of interest of such transaction determined in accordance with generally accepted accounting principles) of the
obligation of the lessee for net rental payments during the remaining term of the lease included in such Sale and Leaseback Transaction (including any period for which such lease has been extended or may, at the option of the lessor, be extended).
The term “net rental payments” under any lease for any period shall mean the sum of the rental and other payments required to be paid in such period by the lessee thereunder, not including any amounts required to be paid by such lessee
(whether or not designated as rental or additional rental) on account of maintenance and repairs, insurance, taxes, assessments, water rates or similar charges required to be paid by such lessee thereunder or any amounts required to be paid by such
lessee thereunder contingent upon the amount of sales, maintenance and repairs, insurance, taxes, assessments, water rates or similar charges. 
 “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 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” has the meaning specified in Section 6.1. 
 “Bearer” means anyone in possession from time to time of a
Bearer Security. 

  
 1 

 “Bearer Security” means any Security that does not provide for the identification
of the Holder thereof. 
 “Board of Directors” means the Board of Directors of the Company or any duly authorized
committee thereof. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee. 

“Capitalized Lease Obligations” means obligations created pursuant to leases that are required to be shown on the liability
side of the balance sheet in accordance with generally accepted accounting principles. 
 “Company” means the party
named as such above and, subject to Article 5, its successors and assigns. 
 “Company Order” means an order by two
Officers or by any Officer and an Assistant Treasurer or an Assistant Secretary of the Company. 
 “Consolidated” when
used with respect to, any of the terms defined herein refers to such terms as reflected in a consolidation of the accounts of the Company and its Restricted Subsidiaries in accordance with generally accepted accounting principles. 

“Consolidated Net Tangible Assets” means the total amount of assets (less depreciation and valuation reserves and other
reserves and items deductible from the gross book value of specific asset accounts under generally accepted accounting principles) which under generally accepted accounting principles would be included on a consolidated balance sheet of the Company
and its Restricted Subsidiaries, after deducting therefrom (i) all liability items except Funded Debt, Capitalized Lease Obligations, stockholders’ equity and reserves for deferred income taxes, (ii) all goodwill, trade names,
trademarks, patents, favorable lease rights, unamortized debt discount and expense and other like intangibles (other than leasehold costs and investments in so-called safe harbor leases), which in each such case would be so included on such balance
sheet, net of accumulated amortization, and (iii) all amounts which would be so included on such balance sheet in respect of Investments (less applicable reserves) in Unrestricted Subsidiaries in excess of the amount of such Investments at
November 25, 1995. 
 “Corporate Trust Office” means the office of the Trustee at which at any particular time
its corporate trust business shall be principally administered, which as of the date hereof is located at 101 Barclay Street, 21 W, New York, New York 10286. 
 “Corporation” includes corporations, associations, companies and business trusts. 
 “Default” means any event that is or with the passage of time or the giving of notice or both would be an Event of Default. 

  
 2 

 “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 Company. 
 “Dollars” means the currency of the United States of America. 

“ECU” means the European Currency Unit as determined by the Commission of the European Communities. 

“Event of Default” has the meaning specified in Section 6.1. 

“Exchange Act” has the meaning specified in Section 2.15. 

“Exempted Debt” means the sum of the following items outstanding as of the date Exempted Debt is being determined:
(i) Indebtedness of the Company and its Restricted Subsidiaries secured by a Mortgage and not permitted to exist pursuant to Section 4.5(a), and (ii) Attributable Debt of the Company and its Restricted Subsidiaries in respect of all
Sale and Leaseback Transactions not permitted pursuant to Section 4.6(a). 
 “Foreign Currency” means any
currency issued by a government other than the government of the United States of America. 
 “Foreign Government
Securities” means with respect to Securities of any series that are denominated in a Foreign Currency, noncallable (i) direct obligations of the government that issued such Foreign Currency for the payment of which obligations its full
faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of such government, the payment of which obligations is unconditionally guaranteed as a full faith and credit
obligation of such government. 
 “Funded Debt” of any Person means Indebtedness, whether incurred, assumed or
guaranteed, maturing by its terms more than one year from the date of creation thereof or that is extendable or renewable at the sole option of the obligor in such manner that it may become payable more than one year from the date of creation
thereof; provided, however, that Funded Debt shall not include (i) obligations created pursuant to leases, (ii) any Indebtedness or portion thereof maturing by its terms within one year from the time of any computation of the
amount of outstanding Funded Debt unless such Indebtedness shall be extendable or renewable at the sole option of the obligor in such manner that it may become payable more than one year from such time, or (iii) any Indebtedness for the payment
or redemption of which money in the necessary amount shall have been deposited in trust either at or before the maturity date thereof. 
 “Global Security” or “Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.1 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. 

“Holder” or “Securityholder” means a person in whose name a Security is registered or the holder of a Bearer
Security. 

  
 3 

 “Indebtedness” of any Person means indebtedness for borrowed money and
indebtedness under purchase money mortgages or other purchase money liens or conditional sales or similar title retention agreements, in each case where such indebtedness has been created, incurred or assumed by such Person to the extent such
indebtedness would appear as a liability upon a balance sheet of such Person prepared in accordance with generally accepted accounting principles, guarantees by such Person of such indebtedness, and indebtedness for borrowed money secured by any
mortgage, pledge or other lien or encumbrance upon property owned by such Person, even though such Person has not assumed or become liable for the payment of such indebtedness. 

“Indenture” means this Indenture as amended or supplemented from time to time and shall include the form and terms of
particular Series of Securities established as contemplated hereunder. 
 “Interest,” when used with respect to an
Original Issue Discount Security which by it terms bears interest only after Maturity, means interest payable after Maturity. 

“Investment” means and includes any investment in stock, evidences of Indebtedness, loans or advances, however made or
acquired, but shall not include accounts receivable of the Company or of any Restricted Subsidiary arising from transactions in the ordinary course of business, or any evidences of indebtedness, loans or advances made in connection with the sale to
any Subsidiary of accounts receivable of the Company or any Restricted Subsidiary arising from transactions in the ordinary course of business of the Company or any Restricted Subsidiary. 

“Judgment Currency” has the meaning specified in Section 10.14. 

“KDS” means Kohl’s Department Stores, Inc., a Delaware corporation. 

“Legal Holiday” has the meaning specified in Section 10.8. 

“Market Exchange Rate” has the meaning specified in Section 10.12. 

“Maturity,” 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 or otherwise. 

“Mortgage” has the meaning specified in Section 4.5. 

“New York Banking Day” has the meaning specified in Section 10.14. 

“Officer” means the Chairman of the Board, the President, any Vice President, the Treasurer, the Secretary or the Controller of
the Company. 
 “Officers’ Certificate” means a certificate signed by two Officers or by any Officer and an
Assistant Treasurer or Assistant Secretary of the Company. 

  
 4 

 “Operating Assets” means all merchandise inventories, furniture and equipment
(including all transportation and warehousing equipment and store racks and showcases but excluding office equipment and data processing equipment) owned by the Company or a Restricted Subsidiary. 

“Operating Property” means all real property and improvements thereon owned by the Company or a Restricted Subsidiary
constituting, without limitation, any store, warehouse, service center or distribution center wherever located, provided that such term shall not include any store, warehouse, service center or distribution center that the Board of Directors
declares by resolution not to be of material importance to the business of the Company and its Restricted Subsidiaries. Operating Property is treated as having been acquired” on the day the Operating Property is placed in operation by the
Company or a Restricted Subsidiary after the later of (a) its acquisition from a third party, including an Unrestricted Subsidiary, (b) completion of its original construction or (c) completion of its substantial reconstruction,
renovation, remodeling, expansion or improvement (whether or not constituting an Operating Property prior to such reconstruction, renovation, remodeling, expansion or improvement). 

“Opinion of Counsel” means a written opinion of legal counsel who is acceptable to the Trustee. The counsel may be an employee
of or counsel to the Company. 
 “Original Issue 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 6.2. 
 “Outstanding,” when used with respect to any Security, shall mean that such security is “outstanding” as contemplated by Section 2.10. 

“Paying Agent” has the meaning specified in Section 2.5. 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated
organization or government or any agency or political subdivision thereof. 
 “Principal” of a Security means the
principal of the Security plus, when appropriate, the premium, if any, on the Security. 
 “Registrar” has the meaning
specified in Section 2.5. 
 “Required Currency” has the meaning specified in Section 10.14. 

“Responsible Officer” when used with respect to the Trustee, means the chairman or the vice chairman of the board of directors
or trustees, the chairman or vice chairman of the executive committee of the board of directors or trustees, the president, any vice president, the treasurer, the secretary, any trust officer, any second or assistant vice president or any officer or
assistant officer of the Trustee other than those specifically above mentioned customarily performing functions similar to those performed by the persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is
referred because of his knowledge of and familiarity with a particular subject. 

  
 5 

 “Restricted Subsidiary” means KDS and any other Subsidiary which, subject to
Section 4.7, shall be designated by the Board of Directors or by duly authorized officers of the Company as a Restricted Subsidiary; provided, however, that (a) the Board of Directors or duly authorized officers of the
Company may, subject to Section 4.7, designate any Unrestricted Subsidiary as a Restricted Subsidiary and any Restricted Subsidiary (other than KDS) as an Unrestricted Subsidiary and (b) any Subsidiary of which the majority of the voting
stock is owned directly or indirectly by one or more Unrestricted Subsidiaries shall be an Unrestricted Subsidiary. 

“Sale and Leaseback Transaction” has the meaning specified in Section 4.6. 

“SEC” means the Securities and Exchange Commission. 
 “Securities” means the debentures, notes or other debt instruments of this Company of any Series authenticated and delivered under this Indenture. 

“Senior Funded Debt” means all Funded Debt of the Company or any other Person, except Subordinated Funded Debt. 

“Series” or “Series of Securities” means each series of debentures, notes or other debt instruments of the Company
created pursuant to Sections 2.1 and 2.3 hereof. 
 “Service Agent” has the meaning specified in Section 2.5.

 “Stated Maturity” when used with respect to any Security or any installment of Principal thereof or interest
thereon, means the date specified in such Security as the fixed date on which the Principal of such Security or such installment of Principal or interest is due and payable. 
 “Subordinated Funded Debt” means any unsecured Indebtedness of the Company that is expressly made subordinate and junior in rank and right of payment to the Securities and such other
Indebtedness of the Company as may be specified or characterized in the instruments evidencing the Subordinated Funded Debt or the indenture or other similar instrument under which it is issued (which indenture or other instrument shall be binding
on all holders of such Subordinated Funded Debt) (the Securities and any other Indebtedness of the Company to which the Subordinated Funded Debt is subordinate and junior being hereinafter in this paragraph called “Superior Debt”), by
provisions not substantially more favorable to the holders of the Subordinated Funded Debt than the following: 

(i) In the event of any insolvency or bankruptcy proceedings, any receivership, liquidation, reorganization or other
similar proceedings in connection therewith, relative to the Company or to its creditors, as such, or to its property, and in the event of any proceedings for voluntary liquidation, dissolution or other winding up of the Company, whether or not
involving insolvency or bankruptcy, then the holders of Superior Debt shall be entitled to receive payment in full of all Principal and interest on all Superior Debt before the holders of the Subordinated Funded Debt are entitled to receive any
payment on account of Principal or interest upon the Subordinated Funded Debt, and to that end (but subject to the power of a court of competent jurisdiction to make other equitable provision reflecting the rights conferred by the provisions of the
Subordinated Funded Debt upon the Superior Debt and the holders thereof with respect to 

  
 6 

 
the Subordinated Funded Debt and the holders thereof by a lawful plan or reorganization under applicable bankruptcy or insolvency law) the holders of Superior Debt shall be entitled to receive
for application in payment thereof any payment or distribution of any kind or character, whether in cash or property or securities, which may be payable or deliverable in any such proceedings in respect of the Subordinated Funded Debt, except
securities which are subordinate and junior in right of payment to the same extent as the Subordinated Funded Debt to the payment of all Superior Debt (and any securities issued in exchange therefor) then outstanding; (ii) in the event that any
Subordinated Funded Debt is declared due and payable before its expressed maturity because of the occurrence of an event of default with respect to such Subordinated Funded Debt (under circumstances when the provisions of the foregoing clause
(i) shall not be applicable), the holders of the Superior Debt outstanding at the time such Subordinated Funded Debt became so due and payable because of such occurrence of such an event of default shall be entitled to receive payment in full
of all Principal and interest on all Superior Debt before the holders of such Subordinated Funded Debt are entitled to receive any payments on account of the Principal or interest upon such Subordinated Funded Debt except payments at the expressed
maturity of such Subordinated Funded Debt, current interest payments as provided in such Subordinated Funded Debt, payments pursuant to any mandatory sinking fund (or analogous provision) in respect of such Subordinated Funded Debt, and payments for
the purpose of curing any such event of default; (iii) in the event that (x) there shall have occurred a default in the payment of the principal of or interest on any Superior Debt, or (y) there, shall have occurred any other event of
default with respect to any Superior Debt permitting the holders thereof to accelerate the maturity thereof and if written notice thereof shall have been given to the Company by a holder or holders of such Superior Debt or their representative or
representatives or trustee or trustees under any indenture pursuant to which any instruments evidencing any such Superior Debt may have been issued, or (z) the payment hereinafter referred to would itself constitute an event of default with
respect to any Superior Debt, then, in any such case, unless or until such event of default shall have been cured or waived or shall have ceased to exist, no payment shall be made by the Company on account of Principal of or interest on any
Subordinated Funded Debt (whether pursuant to any sinking fund or otherwise) or on account of the purchase or other acquisition of any Subordinated Funded Debt; and (iv) no holder of Superior Debt or trustee for such holder shall be prejudiced
in his or her right to enforce subordination of the Subordinated Funded Debt by any act or failure to act on the part of the Company; 

provided, however, that the Subordinated Funded Debt may provide that the foregoing provisions are solely for the purposes of defining the
relative rights of the holders of Superior Debt on the one hand, and the holders of the Subordinated Funded Debt on the other hand, and that nothing therein shall impair, as between the Company and the holders of the Subordinated Funded Debt, the
obligation of the Company, which is unconditional and absolute, to pay to the holders thereof the Principal thereof and interest thereon in accordance with its terms, nor shall anything therein prevent the holders of the Subordinated Funded Debt
from exercising all remedies otherwise permitted by applicable law or thereunder upon default thereunder, subject to the rights under clauses (i), (ii) and (iii) above of holders of Superior Debt to receive cash, property or securities
otherwise payable or deliverable to the holders of the Subordinated Funded Debt; and provided, further, that the Subordinated Funded Debt may provide that, insofar as a 

  
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trustee or paying agent for such Subordinated Funded Debt is concerned, the foregoing provisions shall not prevent the application by such trustee or paying agent of any moneys deposited with
such trustee or paying agent for the purpose of the payment of or on account of the principal and interest on such Subordinated Funded Debt if such trustee or paying agent did not have knowledge at the time of such application that such payment was
prohibited by the foregoing provisions. 
 “Subsidiary” means a corporation more than 50% of the outstanding voting
stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock that ordinarily has
voting power for the election of directors whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
 “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code §§77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that in the event the Trust
Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust Indenture Act as so amended. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of
this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, 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
obligations of the United States for the payment of which its full faith and credit is pledged, or obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States the payment of which are
unconditionally guaranteed by the United States. 
 “Unrestricted Subsidiary” means any Subsidiary other than a
Restricted Subsidiary. 
 “Wholly Owned Restricted Subsidiary” means any Restricted Subsidiary all of the outstanding
Funded Debt and capital stock of which, other than directors’ qualifying shares, is owned by the Company and its other Wholly Owned Restricted Subsidiaries. 
 SECTION 1.2. Incorporation by Reference of Trust Indenture Act. 
 Whenever
this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 

“Commission” means the SEC. 
 “indenture securities” means the Securities. 
 “indenture security
holder” means a Securityholder. 

  
 8 

 “indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on the indenture securities means the Company and any successor obligor upon the Securities. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statue or defined by SEC rule
under the TIA and not otherwise defined herein are used herein as so defined. 
 SECTION 1.3. 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 generally accepted
accounting principles; 
 (3) “Or” is not exclusive; and 

(4) Words in the singular include the plural, and in the plural include the singular. 

ARTICLE 2 
 THE
SECURITIES 
 SECTION 2.1. Issuable in Series; Denominations. 

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 and each such Series shall rank equally and pari passu with all other unsecured and unsubordinated debt of the Company. All Securities of a Series shall be identical except as may be provided in a Board Resolution
and/or an Officers’ Certificate detailing the adoption of the terms thereof pursuant to the Board Resolution or an indenture supplement hereto. In the case of Securities of a Series to be issued from time to time, the Officers’ Certificate
may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest should 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 the Indenture. 
 The Securities of each
Series shall be issuable in registered form (unless the Board Resolution or indenture supplement for a particular Series indicates Securities of that Series will be Bearer Securities) without coupons in such denominations as shall be specified as
contemplated by Section 2.2 In the absence of any such provisions with respect to the Securities of any Series, the Securities of such Series shall be issuable in denominations of $1,000 and any integral multiple thereof. 

  
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 SECTION 2.2. Forms Generally. The Securities of each Series shall be substantially in
such form (not inconsistent with this Indenture) as shall be established by or pursuant to one or more Board Resolutions (as set forth in a Board Resolution or, to the extent established pursuant to rather than set forth in a Board Resolution, an
Officers’ Certificate detailing such establishment) or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture
and may have imprinted or otherwise reproduced thereon such legend or legends or endorsements, not inconsistent with the provisions of this Indenture, as may be required to comply with any law or with any rules or regulations pursuant thereto, or
with any rules of any securities exchange or to conform to general usage, all as may be determined by the Officers executing such Securities, as evidenced by their execution of such Securities. 

SECTION 2.3. 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 Subsections 2.3.1 and 2.3.2 and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.3.3 through 2.3.16) by either a Board Resolution or an indenture supplemental hereto (and, to the
extent not set forth in such Board Resolution or supplemental indenture, in an Officers’ Certificate detailing the adoption of terms pursuant to the Board Resolution): 
 2.3.1. The title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any other Series); 

2.3.2. 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 2.8, 2.9, 2.10 or 2.15); 

2.3.3. The date or dates on which the Principal of the Securities of the Series is payable; 

2.3.4. The rate or rates and, if applicable, the method used to determine the rate 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 shall accrue, the dates on which such interest shall be payable and the record
date for the interest payable on any interest payment date; 
 2.3.5. The place or places where the Principal of and interest on
the Securities of the Series shall be payable, or the method of such payment, if by wire transfer, mail or other means; 

2.3.6. The period or periods within which, the price or prices at which and the terms and conditions upon which the Securities of the
Series may be redeemed, in whole or in part, at the option of the Company; 

  
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 2.3.7. The obligation, if any, of the Company 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 period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the Series shall be redeemed
or purchased, in whole or in part, pursuant to such obligation; 
 2.3.8. If other than denominations of $1,000 and any integral
multiple thereof, the denominations in which the Securities of the Series shall be issuable; 
 2.3.9. If other than the
Principal thereof, the portion of the Principal of the Securities of the Series that shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 6.2; 

2.3.10. The currency of denomination of the Securities of the Series, which may be Dollars, any Foreign Currency or other composite
currency, including but not limited to the ECU, and if such currency of denomination is a composite currency other than the ECU, the agency or organization, if any, responsible for overseeing such composite currency; 

2.3.11. The designation of the currency or currencies in which payment of the Principal of and interest on the Securities of the Series
will be made, and the designation, if any, of the currency or currencies in which payment of the Principal or interest on the Securities of the Series, at the election of a Holder thereof, may also be payable; 

2.3.12. If the amount of payments of Principal of or interest on the Securities of the Series may be determined with reference to an
index based on a currency or currencies other than that in which the Securities are denominated or designated to be payable or determined by reference to a commodity, commodity index, stock exchange index or financial index, the manner in which such
amounts shall be determined; 
 2.3.13. If the payments of Principal of or interest on the Securities of the Series are to be
made in a Foreign Currency other than the currency in which such Securities are denominated, the manner in which the exchange rate with respect to such payments shall be determined; 

2.3.14. 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 in whole or in part in the form of one or more Global Securities); 
 2.3.15. The terms, if any, on
which the Securities of the Series may be converted into or exchanged for stock or other securities of the Company or other entities, any specific terms relating to the adjustment thereof and the period during which the Securities of such Series may
be so converted or exchanged; 
 2.3.16. Any other terms of the Securities of the Series, including, without limitation, any
other Defaults or Events of Default or covenants with respect to the Securities of such Series (which terms shall not be inconsistent with the provisions of this Indenture); and 

2.3.17. Any 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. 

  
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 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 or Officers’ Certificate referred to above or as set forth in an indenture supplemental hereto, and, unless otherwise provided, the
authorized principal amount of any Series may be increased to provide for issuances of additional Securities of such Series. 

SECTION 2.4. Execution and Authentication. 
 Securities shall be executed by an Officer for the Company and attested by the Secretary or an Assistant Secretary. Signatures shall be manual or facsimile. The Company’s seal, which may be in
facsimile form, shall be reproduced on the Securities. 
 If an Officer whose signature is on a Security no longer holds that
office at the time the Security is authenticated, the Security shall be valid nevertheless. 
 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 the
Board Resolution or Officers’ Certificate detailing the adoption of terms pursuant to the Board Resolution, upon receipt by the Trustee of a Company Order. If provided for in such procedures, such Company Order may authorize authentication and
delivery pursuant to oral or electronic instructions from the Company 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 Board Resolution or indenture supplemental hereto. 
 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 or Officers’ Certificate or indenture supplemental hereto delivered pursuant to Section 2.3, except
as provided in Section 2.9. 
 Prior to the issuance of Securities of any Series, the Trustee shall have received and
(subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution or Officers’ Certificate detailing the adoption of terms pursuant to the Board Resolution or an indenture supplemental hereto 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, (b) an Officers’ Certificate complying with Section 10.5 and (c) an
Opinion of Counsel which shall state: 
 (1) that the form of such Securities has been established by a
supplemental indenture or by or pursuant to a Board Resolution in accordance with Sections 2.1 and 2.2 and in conformity with the provisions of this Indenture; 
 (2) that the terms of such Securities have been established in accordance with Section 2.1 and in conformity with the other provisions of this Indenture; 

  
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 (3) that such Securities, when authenticated and delivered by the Trustee
and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms; and 

(4) that the execution and delivery by the Company of such Securities will not violate any Federal or State of Wisconsin
law applicable to the Company. 
 With respect to subparagraph (3) of paragraph (c) above, such counsel may state that
the enforceability of the Securities may be limited by (i) bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or similar laws affecting the enforcement of creditors’ rights and (ii) the effect of general
principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at law), including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing. In applying such principles, a court,
among other things, might not allow the Trustee to take action based upon the occurrence of a default deemed immaterial and such counsel may assume that the Trustee will at all times act in good faith, in a commercially reasonable manner and in
compliance with all laws and regulations. 
 Notwithstanding the foregoing provisions of this Section, if all Securities of a
Series are not to be originally issued at one time, it shall not be necessary to deliver the documents otherwise required by paragraphs (a), (b) and (c), above, at or prior to the time of authentication of each Security of such Series if such
documents are delivered at or prior to the authentication upon original issuance of the first Security of such Series to be issued. 
 The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series: (A) if the Trustee, being advised by counsel, determines that such action may not lawfully be
taken; or (B) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee shall determine that such action would expose the Trustee to personal liability to Holders of any then outstanding Series
of Securities. 
 The Trustee may appoint an authenticating agent to authenticate Securities. 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 agent. An authenticating agent has the same rights as an Agent to deal with the Company or an
Affiliate. 
 SECTION 2.5. Registrar and Paying Agent. 

The Company shall maintain or cause to be maintained, with respect to each Series of Securities, at the Corporate Trust Office of the
Trustee (or such other place or places specified with respect to such Series pursuant to Section 2.3), an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities
of such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be served (“Service
Agent”). The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange. The Company will give prompt written notice to the Trustee of the name and address, and any change in the name or
address, of 

  
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each Registrar, Paying Agent or Service Agent. If at any time the Company shall fail to maintain or cause to be maintained 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 Company hereby appoints the Trustee as its agent to receive all
such presentations, surrenders, notices and demands. 
 The Company 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 Company of its
obligations to maintain a Registrar, Paying Agent and Service Agent in each place so specified pursuant hereto or to Section 2.3 for Securities of any Series for such purposes. The Company 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. 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
Company hereby appoints the Trustee 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. 
 SECTION 2.6. Paying Agent to Hold Money in Trust. 

The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the
benefit of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of Principal or interest on the Series of Securities, and will notify the Trustee of any default by the Company in making any
such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to
the Trustee, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it shall segregate the money and hold it as a separate trust fund.

 SECTION 2.7. Securityholder 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 Securityholders of each Series of Securities and shall
otherwise comply with TIA §312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least ten days before each interest payment date (or if such interval would be less than six months, then every March 31
and September 30, or at such other times as may be specified for a 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 Securityholders of each Series of Securities. 

  
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 SECTION 2.8. Transfer and Exchange. 

Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register transfer or to exchange them for
an equal principal amount of Securities of the same Series and date of Stated Maturity of other denominations, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registration
of transfer and exchanges the Trustee shall authenticate Securities at the Registrar’s request. The Company will not make any charge for any registration of transfer or exchange but may require the payment of a sum sufficient to cover any tax
or other governmental charge payable in connection therewith. 
 Neither the Company nor the Registrar shall be required
(a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning at the opening of business 15 days immediately preceding 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 (b) to register the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any
such Securities selected, called or being called for redemption in part. 
 SECTION 2.9. Replacement Securities.

 If the Holder of a Security provides evidence satisfactory to the Trustee that the Security has been mutilated, lost,
destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate upon a Company Order a replacement Security of the same Series and date of Stated Maturity if the Trustee’s requirements are met. An indemnity bond must
be supplied by the Holder that is sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee, any Agent or any authenticating agent from any loss that any of them may suffer if a Security is replaced. The Company
may charge for its expenses in replacing a Security. 
 Every replacement Security is an additional obligation of the Company
and shall be entitled to all benefits of this Indenture. 
 SECTION 2.10. Outstanding Securities. 

Securities outstanding at any time are all Securities authenticated by the Trustee except for those cancelled by it, those delivered to
it for cancellation and those described in this Section as not outstanding. 
 If a Security is replaced pursuant to
Section 2.9, it ceases to be outstanding until 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 Company, a Subsidiary or an Affiliate of any thereof) holds on a redemption date or Maturity date money sufficient to pay Securities of a Series 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. 

  
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 A Security does not cease to be outstanding because the Company or an Affiliate holds the
Security. 
 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 an Original Issue 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 thereof pursuant to Section 6.2. 
 SECTION 2.11. Treasury Securities. 
 In determining whether the Holders of
the required principal amount of Securities of a Series have concurred in any direction, waiver or consent, Securities of a Series owned by the Company or an Affiliate shall be disregarded, except that for the purposes of determining whether the
Trustee shall be protected in relying on any such direction, waiver or consent, only Securities of a Series that the Trustee actually knows are so owned shall be so disregarded. 

SECTION 2.12. Temporary Securities. 
 Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be substantially in the
form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee upon Company Order shall authenticate definitive Securities
of the same Series and date of maturity in exchange for temporary Securities. Until so exchanged, Temporary Securities shall have the same rights under this Indenture as the definitive Securities. 

SECTION 2.13. Cancellation. 
 The Company 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 shall cancel all Securities surrendered for transfer, exchange, payment or cancellation and shall deliver such cancelled Securities to the Company. The Company may not issue new Securities to replace Securities that it has paid
or delivered to the Trustee for cancellation. 
 SECTION 2.14. Payment of Interest and Defaulted Interest. 

Interest on any Security which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the
person in whose name that Security is registered at the close of business on the regular record date for such interest payment. Except as otherwise provided with respect to any Series of Securities, at the option of the Company, interest on any
Securities of any Series may be paid by mailing a check on or before the applicable interest payment date, to the address of the person in whose name the Security is registered as such address appears on the list of Securityholders. 

  
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 If the Company defaults in a payment of interest on a Series of Securities, it shall pay the
defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series on a subsequent special record date. The Company shall fix the record date and payment
date. At least 30 days before the record date, the Company shall mail to the Trustee and to each Securityholder of the Series a notice that states the record date, the payment date and the amount of interest to be paid. The Company may pay defaulted
interest in any other lawful manner. 
 SECTION 2.15. Global Securities. 

2.15.1. Terms of Securities. An indenture supplemental to the Indenture or a Board Resolution (and, to the extent not set forth in
the Board Resolution, in an Officers’ Certificate detailing the adoption of terms pursuant to the Board Resolution) 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. 
 2.15.2. Transfer and Exchange. Notwithstanding
any provisions to the contrary contained in Section 2.8 and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.8 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 Company 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
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and, in either case, the Company fails to appoint a successor Depository within 90 days of such event, (ii) the Company executes and delivers to the Trustee an
Officers’ Certificate to the effect that such Global Security shall be so exchangeable or (iii) an event shall have happened and be continuing which is or after notice or lapse of time or both, would be, an Event of Default with respect to
the Securities represented by such Global Security. 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
principal amount equal to the principal amount of the Global Security with like tenor and terms. 
 Except as provided in this
Section 2.15.2, 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 by the Depository or any such a nominee to a successor Depository or a nominee of such a successor Depository. 
 2.15.3. 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.” 

  
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 2.15.4. 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 the Indenture. 

2.15.5. Acceleration. Notwithstanding any provisions to the contrary contained in Sections 6.2 and 10.3 and in addition thereto,
upon receipt by the Trustee of any declaration of acceleration, or rescission and annulment thereof, with respect to Securities of a Series all or part of which is represented by a Global Security, the Trustee shall establish a record date for
determining Holders of Outstanding Securities of such Series entitled to join in such declaration of acceleration, or rescission and annulment, as the case may be, which record date shall be at the close of business on the day the Trustee receives
such declaration of acceleration, or rescission and annulment, as the case may be. The Holders on such record date, or their duly designated proxies, and only such Holders, shall be entitled to join in such declaration of acceleration, or rescission
and annulment, as the case may be, whether or not such Holders remain Holders after such record date; provided, however, that unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become
effective by virtue of the requisite percentage having been obtained prior to the day which is 90 days after such record date, such declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further
action by any Holder be cancelled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 90-day period, a new declaration of acceleration, or rescission or annulment
thereof, as the case may be, that is identical to a declaration of acceleration, or rescission or annulment thereof, which has been cancelled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established
pursuant to the provisions of this Section 2.15.5. 
 2.15.6. Control by Majority. Notwithstanding any provisions to
the contrary contained in Sections 6.12 and 10.3 and in addition thereto, upon receipt by the Trustee of any direction with respect to Securities of a Series all or part of which is represented by a Global Security, the Trustee shall establish a
record date for determining Holders of Outstanding Securities of, such Series entitled to join in such direction, which record date shall be at the close of business on the date the Trustee receives such direction. The Holders on such record date,
or their duly designated proxies, and only such Holders, shall be entitled to join in such direction, whether or not such Holders remain Holders after such record date; provided, however, that unless such majority in principal amount
shall have been obtained prior to the day which is 90 days after such record date, such direction shall automatically and without further action by any Holder be cancelled and of no further effect. Nothing in this paragraph shall prevent a Holder,
or a proxy of a Holder from giving, after expiration of such 90-day period, a new direction identical to a direction which has been cancelled pursuant to the provisions to the preceding sentence, in which event a new record date shall be established
pursuant to the provisions of this Section 2.15.6. 

  
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 SECTION 2.16. CUSIP Numbers. 

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

ARTICLE 3 

REDEMPTION 

SECTION 3.1. Notice to Trustees. 
 The Company 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
before 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 Company 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 amount of Series of Securities to be redeemed. The Company shall give the notice at least 60 days before the
redemption date (or such shorter notice as may be acceptable to the Trustee). 
 SECTION 3.2. Selection of Securities to be
Redeemed. 
 Unless otherwise indicated for a particular Series by Board Resolution or by indenture supplemental hereto (or
to the extent not set forth in such Board Resolution or supplemental indenture, in an Officers’ Certificate so indicating pursuant to the Board Resolution), 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 in any manner that the Trustee deems fair and appropriate. 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 whole multiples of $1,000 or, with respect to
Securities of any Series issuable in other denominations pursuant to Section 2.3.8, 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, including a portion consisting of Securities both bearing the same interest rate and having the same Stated Maturity. 

SECTION 3.3. Notice of Redemption. 
 Unless otherwise indicated for a particular Series by Board Resolution or by indenture supplemental hereto, at least 30 days but not more than 60 days before a redemption date, the Company shall mail a
notice of redemption by first-class mail 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. 

  
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 The notice shall identify the Securities (including CUSIP numbers) of the Series to be
redeemed and shall state: 
 (1) The principal amount of each such Security to be redeemed; 

(2) The redemption date; 
 (3) The redemption price; 
 (4) The name and address of the Paying
Agent; 
 (5) That Securities of the Series called for redemption must be surrendered to the Paying Agent to
collect the redemption price; 
 (6) That interest on Securities of the Series called for redemption ceases to
accrue on and after the redemption date; and 
 (7) Any other information as may be required by the terms of the
particular Series or the Securities of a Series being redeemed. 
 At the Company’s request, the Trustee shall give the
notice of redemption in the Company’s name and at its expense. 
 SECTION 3.4. Effect of Notice of Redemption.

 Once notice of redemption is mailed or published as provided in Section 3.3, Securities of a Series called for
redemption become due and payable on the redemption date and at the redemption price, and from and after such date (unless the Company shall be in default in the payment of the redemption price and accrued interest) such Securities shall cease to
bear interest. 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. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the Principal shall, until paid, bear
interest from the redemption date at the rate prescribed therefor in the Security. 
 SECTION 3.5. Deposit of Redemption
Price. 
 On or before the redemption date, the Company shall deposit with the Paying Agent money sufficient to pay the
redemption price of and accrued interest on all Securities to be redeemed on that date. 
 SECTION 3.6. Securities Redeemed
in Part. 
 Upon surrender of a Security that is redeemed in part, the Trustee shall authenticate for the Holder a new
Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered. 

  
 20 

 ARTICLE 4 
 COVENANTS 
 SECTION 4.1. Payment of Principal and Interest. 

The Company covenants and agrees for the benefit of each Series of Securities that it will duly and punctually pay or cause to be paid
the Principal of and interest on each of the Securities of that Series (together with any additional amounts payable pursuant to the terms of such Securities) in accordance with the terms of such Securities and this Indenture. 

SECTION 4.2. Corporate Existence. 
 Subject to Article 5, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights (charter and statutory) and franchises;
provided, however, that the Company shall not be required to preserve any such right or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the
Company and that the loss thereof is not disadvantageous in any material respect to the Holders. 
 SECTION 4.3. Maintenance
of Properties. 
 The Company will cause all properties used or useful in the conduct of its business or the business of any
Subsidiary to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the
judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section shall prevent the Company from
discontinuing the operation or maintenance of any of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business or the business of any Subsidiary and not disadvantageous in any material
respect to the Holders. 
 SECTION 4.4. Payment of Taxes and Other Claims. 

The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes,
assessments and governmental charges in excess of $250,000 levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary, and (2) all lawful claims for labor, materials and
supplies in excess of $250,000 which, if unpaid, might by law become a lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such
tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings. 

  
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 SECTION 4.5. Restrictions on Liens. 

(a) The Company will not, and will not permit any Restricted Subsidiary to, issue, assume or guarantee any Indebtedness
secured by any mortgage, security interest, pledge, lien or other encumbrance (such mortgages, security interests, pledges, liens and other encumbrances being hereinafter called a “Mortgage” or “Mortgages”) upon any Operating
Property or Operating Asset of the Company or any Restricted Subsidiary, whether such Operating Property or Operating Asset is now owned or hereafter acquired, without in any such case effectively providing concurrently with the issuance, assumption
or guarantee of any such Indebtedness that the Securities (together with, if the Company shall so determine, any other Indebtedness ranking equally with such Securities other than Securities not having the benefit of this provision) shall be secured
equally and ratably with such Indebtedness; provided, however, that the foregoing restrictions shall not prevent, restrict or apply to: 
 (i) (A) The giving, simultaneous with or within 180 days after the later of (1) the acquisition or completion of construction or completion of substantial reconstruction, renovation, remodeling,
expansion or improvement (each a “substantial improvement”) of such property, or (2) the placing in operation of such property after the acquisition or completion of any such construction or substantial improvement, of any purchase
money Mortgage on such property (including security for inventory financing in the ordinary course of business and vendors’ rights under purchase contracts under an agreement whereby title is retained for the purpose of securing the purchase
price thereof) whether occurring prior to or after the date of this Indenture, or (B) the acquiring hereafter of property not theretofore owned by the Company or such Restricted Subsidiary subject to any then existing Mortgage securing
Indebtedness (whether or not assumed), including, in each case, Indebtedness incurred for reimbursement of funds previously expended for any such purpose; provided, however, that, in each case, (y) such Mortgage is limited to any
or all of (1) such acquired or constructed property or substantial improvement (including accretions thereto), (2) the real property on which any construction or substantial improvement occurs or (3) with respect to distribution
centers, any equipment used directly in the operation of, or the business conducted on, the real property on which any construction or substantial improvement occurs, and (z) the total amount of the Indebtedness secured by such Mortgage,
together with all other Indebtedness to Persons other than the Company or a Restricted Subsidiary secured by Mortgages on such Mortgaged property, shall not exceed the lesser of (A) the total cost of such Mortgaged property, including any such
construction or substantial improvement, to the Company or a Restricted Subsidiary or (B) the fair market value thereof immediately following the acquisition, construction or substantial improvement thereof by the Company or a Restricted
Subsidiary; 
 (ii) The giving by the Company or a Restricted Subsidiary of a Mortgage on real property or, with
respect to distribution centers, on equipment used directly in the operation of, or the business conducted on, such real property which is the sole security for Indebtedness (1) incurred within three years after the latest of (A) the date
of issuance of the first Series of Securities hereunder, (B) the date of acquisition of such real property or (C) the date of completion of construction or substantial improvement made thereon, (2) incurred for the purpose of
reimbursing itself for the cost of acquisition and/or cost of 

  
 22 

 
improvement of such real property and equipment, (3) the amount of which does not exceed the lesser of the aggregate cost of such real property, improvements and equipment or the fair market
value thereof, and (4) the holder of which shall be entitled to enforce payment of such Indebtedness solely by resorting to the security therefor, without any liability on the part of the Company or such Restricted Subsidiary for any
deficiency; 
 (iii) Any Mortgage (1) existing on the date of this Indenture, (2) on the assets of a
Restricted Subsidiary existing on the date it became a Subsidiary or (3) on the assets of a Subsidiary that is newly designated as a Restricted Subsidiary, if such Mortgage would have been permitted under this Section 4.5(a) if such
Mortgage was created while such Subsidiary was a Restricted Subsidiary; 
 (iv) Any Mortgage given in favor of
the Company or any Restricted Subsidiary; 
 (v) Any Mortgage given as security for the Indebtedness issued
hereunder; or 
 (vi) Any Mortgage incurred in connection with any refinancing, extension, renewal or replacement
of Indebtedness secured by a Mortgage permitted under clauses (i) to (v) above; provided, that the principal amount of the extended, renewed, refinanced or replaced Indebtedness does not exceed the principal amount of the
Indebtedness so refinanced, extended, renewed or replaced, plus transaction costs and fees, and that such Mortgage applies only to the same property or assets subject to the prior permitted Mortgage (and, in the case of real property improvements).

 (b) Notwithstanding the provisions of subsection (a) of this Section 4.5, the Company or any
Restricted Subsidiary may, in addition to Mortgages permitted by subsection (a) of this Section 4.5, create or assume and renew, extend or replace Mortgages which would otherwise be subject to such subsection (a), provided that at the time
of such creation, assumption, renewal, extension or replacement, and after giving effect thereto, Exempted Debt does not exceed 15% of Consolidated Net Tangible Assets. 
 SECTION 4.6. Restrictions on Sale and Leaseback Transactions. 
 (a) Without equally and ratably securing the Securities (together with, if the Company so determines, any other Indebtedness ranking equally with the Securities), the Company will not, nor will it permit
any Restricted Subsidiary to, enter into any arrangement with any Person providing for the leasing by the Company or any Restricted Subsidiary of any Operating Property or Operating Asset now owned or hereafter acquired that has been or is to be
sold or transferred by the Company or such Restricted Subsidiary to such Person with the intention of taking back a lease of such property (a “Sale and Leaseback Transaction”) unless the terms of such sale or transfer have been determined
by the Board of Directors to be fair and arms’ length and (i) within 180 days after the receipt of the proceeds of such sale or transfer, the Company or such Restricted Subsidiary applies an amount equal to the greater of the net proceeds
of such sale or transfer or the fair value of such Operating Property or Operating Asset at the time of such sale or transfer to the prepayment or retirement (other than any mandatory prepayment or retirement) of Senior Funded Debt of the Company or
any Restricted Subsidiary, 

  
 23 

 
or (ii) the Company or such Restricted Subsidiary would be entitled, at the effective date of such sale or transfer, to incur Indebtedness secured by a Mortgage on such Operating Property or
Operating Asset, in an amount at least equal to the Attributable Debt in respect thereof, without equally and ratably securing the Securities pursuant to the provisions of Section 4.5, above. The foregoing restriction shall not apply to any
Sale and Leaseback Transaction for a term of not more than three years including renewals, (x) any Sale and Leaseback Transaction with respect to Operating Property and, with respect to distribution centers, equipment used directly in the
operation of, or the business conducted on, such Operating Property) if a binding commitment is entered into with respect to said Sale and Leaseback Transaction within three years after the latest of (1) the date of issuance of the first Series
of Securities hereunder or (2) the date when such Operating Property was acquired (as the term “acquired” is used in the definition of Operating Property), any Sale and Leaseback Transaction with respect to Operating Assets if a
binding commitment with respect thereto is entered into within 180 days after the later of the date such property was acquired and, if applicable, the date such property was first placed in operation, or (z) any Sale and Leaseback Transaction
between the Company and any Restricted Subsidiary or between Restricted Subsidiaries provided that the lessor shall be the Company or a Wholly Owned Restricted Subsidiary. 

(b) Notwithstanding the provisions of subsection (a) of this Section 4.6, the Company or any Restricted
Subsidiary may, in addition to Sale and Leaseback Transactions permitted by subsection (a) of this Section 4.6, enter into Sale and Leaseback Transactions without any obligation to retire any Senior Funded Debt of the Company or a
Restricted Subsidiary; provided that, at the time of entering into such Sale and Leaseback Transactions, and after giving effect thereto, Exempted Debt does not exceed 15% of Consolidated Net Tangible Assets. 

SECTION 4.7. Limitations Upon Permitting Restricted Subsidiaries to become Unrestricted Subsidiaries and Unrestricted Subsidiaries to
become Restricted Subsidiaries. 
 (a) The Company will not permit any Restricted Subsidiary to be designated
as or otherwise to become an Unrestricted Subsidiary unless immediately after such Restricted Subsidiary becomes an Unrestricted Subsidiary, such Unrestricted Subsidiary will not own, directly or indirectly, any capital stock of any other Restricted
Subsidiary or any Mortgage on property of any other Restricted Subsidiary. 
 (b) The Company will not permit any
Unrestricted Subsidiary that has previously been a Restricted Subsidiary to be designated as a Restricted Subsidiary unless such Unrestricted Subsidiary shall not, at any time after it ceased to be a Restricted Subsidiary, have participated in any
Sale and Leaseback Transaction involving any Operating Property or Operating Asset owned by such Subsidiary, the Company or any Restricted Subsidiary (other than in a transaction permitted under Section 4.6 for such Subsidiary if it had been a
Restricted Subsidiary at the time), unless the Operating Property or Operating Asset involved in such transaction shall no longer be leased by the Company or any Restricted Subsidiary or such Subsidiary or shall be owned by the Company or a Wholly
Owned Restricted Subsidiary; 

  
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 (c) Promptly after the adoption of any Board Resolution designating a
Restricted Subsidiary as an Unrestricted Subsidiary or an Unrestricted Subsidiary as a Restricted Subsidiary, or the making of an election by duly authorized Officers of the Company to effect any such designation, a copy of such Board Resolution or
a written statement as to such designation signed by such Officers shall be filed with the Trustee, together with an Officers’ Certificate stating that the provisions of this Section 4.7 have been complied with in connection with such
designation, and, in case of the designation of a Restricted Subsidiary as an Unrestricted Subsidiary, setting forth the name of each other Subsidiary (if any) that has become an Unrestricted Subsidiary as a result of such designation. 

SECTION 4.8. Compliance Certificate. 
 The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate signed by the principal executive officer, principal financial
officer or principal accounting officer of the Company stating whether or not to the best knowledge of the signers thereof the Company is in Default in the performance and observance of any of the terms, provisions and conditions of the Indenture,
and if the Company shall be in Default, specifying all such Defaults and the nature and status thereof of which they may have knowledge. If the Company shall be in Default, the certificate shall describe the Default. 

SECTION 4.9. Reports by the Company. 
 The Company shall file with the Trustee, within 15 days after it files them with the SEC, copies of the annual reports and of the definitive information, documents, and other reports (or copies of such
portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall comply with the other provisions
of TIA §314(a). Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

The Company shall file with the Trustee promptly at the end of each calendar year during which any Original Issue Discount Securities
were outstanding a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on outstanding Original Issue Discount Securities as of the end of such year. 

ARTICLE 5 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 SECTION 5.1. Company May Consolidate, Etc., Only on Certain Terms. 
 The
Company shall not consolidate with or merge into any other corporation or convey, transfer or lease its properties and assets substantially as an entirety to any Person, and the Company shall not permit any Person to consolidate with or merge into
the Company or convey, transfer or lease its properties and assets substantially as an entirety to the Company, unless: 

  
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 (1) In case the Company shall consolidate with or merge into another
corporation or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the corporation formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer,
or which leases, the properties and assets of the Company substantially as an entirety shall be a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and shall expressly
assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the Principal of and interest on all the Securities and the performance of every covenant of
this Indenture on the part of the Company to be performed or observed; 
 (2) Immediately after giving effect to
such transaction and treating any Indebtedness that becomes an obligation, of the Company or a Subsidiary as a result of such transaction as having been incurred by the Company or such Subsidiary at the time of such transaction, no Default or Event
of Default shall have happened and be continuing; 
 (3) If, as a result of any such consolidation or merger or
such conveyance, transfer or lease, an Operating Property of the Company would become subject to a Mortgage which would not be permitted by this Indenture, the Company or such successor corporation or Person, as the case may be, shall take such
steps as shall be necessary effectively to secure the Securities equally and ratably with (or prior to) all Indebtedness secured thereby; and 
 (4) The Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental
indenture is required in connection with such transaction, such supplemental indenture complies with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 

SECTION 5.2. Successor Corporation Substituted. 
 Upon any consolidation by the Company with or merger by the Company into any other corporation or any conveyance, transfer or lease of the properties and assets of the Company substantially as an entirety
in accordance with Section 5.1, the successor corporation formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every
right and power of, the Company under this Indenture with the same effect as if such successor corporation had been named as the Company herein, and thereafter, except in the case of a lease, the Company shall be relieved of all obligations and
covenants under this Indenture and the Securities. 
 ARTICLE 6 

REMEDIES SECTION 

SECTION 6.1. Events of Default. 
 “Event of Default,” wherever used herein with respect to Securities of any Series, means anyone of the following events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary to be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation or any administrative or governmental body): 

(1) Default in the payment of any interest upon any Security of that Series when it becomes due and payable, and
continuance of such default for a period of 30 days; or 

  
 26 

 (2) Default in the payment of all or any part of the Principal of any
Security of that Series at its Maturity; or 
 (3) Default in the deposit of any sinking fund payment, when and
as due by the terms of a Security of that Series; or 
 (4) Default in the performance, or breach, of any
covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture
solely for the benefit of Series of Securities other than that Series), and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company
and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that Series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of
Default” hereunder; or 
 (5) A default under any bond, debenture, note or other evidence of Indebtedness
for money borrowed by the Company (including a default with respect to Securities of any Series other than that Series) or under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any
Indebtedness for money borrowed by the Company (including this Indenture), which default shall have resulted in the acceleration of such Indebtedness, having an aggregate minimum principal amount of $25,000,000, and such acceleration is not
discharged within 10 days after notice thereof has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the holders of at least 25% in principal amount of the Outstanding Securities of that
Series, such notice having specified such default and required the Company to cause the discharge of such acceleration and stating it such notice is a “Notice of Default” hereunder; or 

(6) The entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the
Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law (such laws being hereinafter called “Bankruptcy Law”) or (B) a decree or order adjudging
the Company a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Bankruptcy Law, or appointing a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or
any such other decree or order unstayed and in effect for a period of 60 consecutive days; or 

  
 27 

 (7) The commencement by the Company of a voluntary case or proceeding under
any applicable Bankruptcy Law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking
reorganization or relief under any applicable Bankruptcy Law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official
of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of
corporate action by the Company in furtherance of any such action; or 
 (8) Any other Event of Default provided
with respect to Securities of that Series. 
 SECTION 6.2. Acceleration of Maturity; Rescission and Annulment.

 If an Event of Default with respect to Outstanding Securities of any Series occurs and is continuing, then in every such case
the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that Series may declare the Principal (or, if any Securities of that Series are Original Issue Discount Securities, such portion of the Principal as
may be specified in the terms of such Securities) of all of the Securities of that Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such Principal
(or specified amount) shall become immediately due and payable. If an Event of Default specified in Section 6.1(6) or (7) shall occur, the Principal (or specified amount) of all Outstanding Securities shall ipso facto become and be
immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 
 At any time after
such a declaration of acceleration with respect to any Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in Principal
amount of the Outstanding Securities of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: 

(1) The Company has paid or deposited with the Trustee a sum sufficient to pay: 

(A) All overdue interest on all Securities of that Series, 

(B) The Principal of any Securities of that Series which have become due otherwise than by such declaration of
acceleration and interest “thereon at the rate or rates prescribed therefor in such Securities, 
 (C) To
the extent that payment of such interest is lawful, interest upon any overdue Principal and overdue interest at the rate or rates prescribed therefor in such Securities, and 

  
 28 

 (D) All sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, and advances of the Trustee, its agents and counsel; 
 and 

(2) All Events of Default with respect to Securities of that Series, other than the non-payment of the Principal of
Securities of that Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13. 
 No such rescission shall affect any subsequent Default or impair any right consequent thereon. 
 SECTION 6.3. Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if: 
 (1) Default is made in the payment
of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days; or 
 (2) Default is made in the payment of all or any part of Principal of any Security at the Maturity thereof; or 
 (3) Default is made in the deposit of any sinking fund payment when and as due by the terms of a Security; 
 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for Principal and interest and, to the
extent that payment of such interest shall be legally enforceable, interest on any overdue Principal or any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so
due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law
out of the property of the Company or any other obligor upon such Securities, wherever situated. 
 If an Event of Default with
respect to any Securities of any Series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such Series by such appropriate judicial proceedings as the
Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper
remedy. 

  
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 SECTION 6.4. Trustee May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the Principal of the Securities shall then be
due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue Principal or interest) shall be entitled and empowered, by intervention
in such proceeding or otherwise: 
 (i) To file and prove a claim for the whole amount of Principal and interest
owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

(ii) To collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the
same, 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.7. 
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 SECTION 6.5. Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall,
after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been
recovered. 
 SECTION 6.6. Application of Money Collected. 

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

First: To the payment of all amounts due the Trustee under Section 7.7; and 

  
 30 

 Second: To the payment of the amounts then due and unpaid for Principal of
and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for Principal and
interest, respectively. 
 SECTION 6.7. Limitation on Suits. 

No Holder of any Security of any Series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (1)
Such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that Series; 
 (2) The Holders of not less than 25% in principal amount of the Outstanding Securities of that Series shall have made written request to the Trustee to institute proceedings in respect of such Event of
Default in its own name as Trustee hereunder; 
 (3) Such Holder or Holders have offered to the Trustee
reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; 

(4) The Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any
such proceeding; and 
 (5) No direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that Series; 
 it being understood
and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to
seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all such Holders. 

SECTION 6.8. Unconditional Right of Holders to Receive Principal and Interest. 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the Principal of and interest on such Security on the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for the
enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 

  
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 SECTION 6.9. Restoration of Rights and Remedies. 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has
been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be
restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

SECTION 6.10. Rights and Remedies Cumulative. 
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 2.9, no right or remedy herein conferred
upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 SECTION 6.11. Delay or Omission Not Waiver. 
 No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of
any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the
Holders, as the case may be. 
 SECTION 6.12. Control by Holders. 

The Holders of a majority in principal amount of the Outstanding Securities of any Series shall have the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Series, provided that: 

(1) Such direction shall not be in conflict with any rule of law or with this Indenture, 

(2) The Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and

 (3) Subject to the provisions of Section 7.1, the Trustee shall have the right to decline to follow any
such direction if the Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability. 

  
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 SECTION 6.13. Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the Outstanding Securities of any Series may on behalf of the Holders of
all the Securities of such Series waive any past Default hereunder with respect to such Series and its consequences, except a Default (1) in the payment of the Principal of or interest on any Security of such Series or (2) in respect of a
covenant or provision hereof which under Article 9 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such Series affected. Upon any such waiver, such Default shall cease to exist, and any Event of
Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 

SECTION 6.14. Undertaking for Costs. 
 All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement
of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such
court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal
amount of the Outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the Principal of or interest on any Security on or after the Stated Maturity or Stated Maturities expressed in such
Security (or, in the case of redemption, on or after the redemption date). 
 SECTION 6.15. Waiver of Stay or Extension
Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or
plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to
the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the
execution of every such power as though no such law had been enacted. 
 ARTICLE 7 

TRUSTEE 

SECTION 7.1. Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a
prudent man would exercise or use under the circumstances in the conduct of his own affairs. 

  
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 (b) Except during the continuance of an Event of Default: 

(1) The Trustee need perform only those duties that are specifically set forth in this Indenture and no others.

 (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 Officers’ Certificates or 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 required to be provided to the Trustee, the Trustee shall examine the Officers’ Certificates and Opinions of Counsel to determine whether or not they conform to the requirements of this Indenture.

 (c) 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 paragraph
(b) of this Section. 
 (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 6.12. 
 (d) Every provision of this Indenture that in any
way related to the Trustee is subject to paragraph (a), (b) and (c) of this Section. 
 (e) The Trustee
may refuse to perform any duty or exercise any right or power at the request of any Holder unless it receives indemnity satisfactory to it against any loss, liability or expense. 

(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 Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) 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 in the
exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 

  
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 SECTION 7.2. Rights of Trustee. 

(a) The Trustee may rely on any 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 the document. 
 (b) Before the Trustee
acts or refrains from acting, it may consult with counselor require an Officer’s Certificate or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the advice of counselor
an Officers’ Certificate or an Opinion of Counsel. 
 (c) The Trustee may act through agents and shall not
be responsible for the misconduct or negligence of any agent appointed with due care. 
 (d) The Trustee shall
not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers. 
 (e) The Trustee may consult with counsel of its selection and the advice of such counselor any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon. 
 SECTION 7.3. 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 Company or an Affiliate with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights and duties. However, the Trustee is subject to Sections 7.10 and 7.11. 

SECTION 7.4. Trustee’s Disclaimer. 
 The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities. It shall not be accountable for the Company’s use of the proceeds from the Securities or for
monies paid over to the Company pursuant to the Indenture, and it shall not be responsible for any statement in the Securities other than its certificate of authentication. 
 SECTION 7.5. Notice of Defaults. 
 If a Default or Event of Default occurs
and is continuing with respect to the Securities of any Series and if it is known to the Trustee, 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 or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment on any Security of any Series, the Trustee may withhold the notice if and so long as its
Corporate Trust Committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Securityholders of that Series. 

  
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 SECTION 7.6. Reports by Trustee to Holders. 

Within 60 days after May 15 in each year, the Trustee shall transmit by mail to all Securityholders, as their names and addresses
appear on the Security Register, and, if any Bearer Securities are outstanding, publish in an Authorized Newspaper, a brief report dated as of such May 15, in accordance with, and to the extent required under, TIA §313. 

A copy of each report at the time of its mailing to Securityholders of any Series shall be filed with the SEC and each stock exchange on
which the Securities of that Series are listed. The Company shall promptly notify the Trustee when Securities of any Series are listed on any stock exchange. 
 SECTION 7.7. Compensation and Indemnity. 
 The Company shall pay to the
Trustee from time to time such compensation for its services as the Company and the Trustee may agree. The Trustee’s compensation shall not be limited by any law on compensation of a trustee or an express trust. The Company shall reimburse the
Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel. 

The Company shall indemnify the Trustee (or any predecessor Trustee) for, and agrees to hold it harmless against, any and all loss,
damage, claims, liability or expense, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) arising out of or in connection with the acceptance or administration of the trust or trusts hereunder,
including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent that such loss, damage, claim, liability or expense is
due to its own negligence or bad faith. The Trustee (or any predecessor Trustee, as the case may be) shall notify the Company promptly of any claim for which it may seek indemnity. 

To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on
all money or property held or collected by the Trustee, except that held in trust to pay Principal and interest on particular Securities of that Series. 
 When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.1(6) or (7) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any Bankruptcy Law. 
 The provisions of this Section shall survive the termination
of this Indenture. 
 SECTION 7.8. Replacement of Trustee. 

A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor
Trustee’s acceptance of appointment as provided in this Section. 

  
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 The Trustee may resign with respect to the Securities of one or more Series by so notifying
the Company. 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 Trustee and the Company and may appoint a successor Trustee with the Company’s
consent. The Company 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 or an
order for relief is entered with respect to the Trustee under any Bankruptcy Law; 
 (3) A receiver or public
officer takes charge of the Trustee or its property; or 
 (4) The Trustee becomes incapable of acting.

 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall
promptly appoint a successor Trustee. 
 If a successor Trustee with respect to the Securities of anyone or more Series does not
take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 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. 
 If the Trustee with respect to the Securities of any one or more
Series fails to comply with Section 7.10, any Securityholder of the applicable Series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after
that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.7, 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 Securityholder of
each such Series and if any Bearer Securities are outstanding, publish such notice on one occasion in an Authorized Newspaper. 

SECTION 7.9. 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 assets to, another corporation, the successor corporation without any
further act shall be the successor Trustee provided, however, that within one year after such merger, consolidation or transfer of assets the Company may appoint a successor Trustee to replace the Trustee resulting from such merger, consolidation or
transfer of assets. 

  
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 SECTION 7.10. Eligibility; Disqualification. 

This Indenture shall always have a Trustee who satisfies the requirements of TIA §310(a) (1), (2) and (5). The Trustee shall at
all times be a corporation that is organized and doing business under the laws of the United States of America or of any state thereof, that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or
examination by Federal or State authorities and that has a combined capital and surplus of at least $15,000,000 as set forth in its most recent published annual report of condition. The Trustee is subject to TIA §310(b). 

SECTION 7.11. Preferential Collection of Claims Against Company. 

The Trustee is subject to TIA §311(a), excluding any creditor relationship listed in TIA §311(b). A trustee who has resigned or
been removed shall be subject to TIA §311(a) to the extent indicated. 
 ARTICLE 8 

SATISFACTION AND DISCHARGE 
 SECTION 8.1. Satisfaction and Discharge of Indenture. 
 This Indenture
shall upon Company Order cease to be of further effect (except as to any surviving rights or registration of transfer or exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture, when: 
 (1) Either: 

(a) All Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen
and that have been replaced or paid) have been delivered to the Trustee for cancellation; or 
 (b) All such
Securities not theretofore delivered to the Trustee for cancellation: 
 (i) Have become due and payable, or

 (ii) Will become due and payable at their Stated Maturity within one year, or 

(iii) Are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of
notice of redemption by the Trustee in the name, and at the expense, of the Company, or 
 (iv) Are deemed paid
and discharged pursuant to Section 8.3, as applicable. 

  
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 and the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to
be deposited with the Trustee as trust funds in trust cash in an amount sufficient for the purpose of paying and discharging the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for Principal and
interest to the date of such deposit (in the case of Securities which become due and payable) or to the Stated Maturity or redemption date, as the case may be; 
 (2) The Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
 (3) The Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and
discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the
obligations of the Company to the Trustee under Section 7.7, and, if money shall have been deposited with the Trustee pursuant to clause (1) of this Section or if money or obligations shall have been deposited with or received by the
Trustee pursuant to Section 8.3, the obligations of the Trustee under Section 8.2 and Section 8.5, shall survive. 
 SECTION 8.2. Application of Trust Funds; Indemnification. 

(a) Subject to the provisions of Section 8.5, all money deposited with the Trustee pursuant to Section 8.1, all
money and U.S. Government Obligations or Foreign Government Securities deposited with the Trustee pursuant to Section 8.3 or 8.4 and all money received by the Trustee in respect of U.S. Government Obligations or Foreign Government Securities
deposited with the Trustee pursuant to Section 8.3 or 8.4, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including
the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the Principal and interest for whose payment such money has been deposited with or received by the Trustee or to make mandatory sinking
fund payments or analogous payments as contemplated by Sections 8.3 or 8.4. 
 (b) The Company shall pay and
shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Securities deposited pursuant to Sections 8.3 or 8.4 or the interest and Principal received in respect
of such obligations other than any payable by or on behalf of Holders. 
 (c) The Trustee shall deliver or pay to
the Company from time to time upon Company Order any U.S. Government Obligations or Foreign Government Securities or money held by it as provided in Sections 8.3 or 8.4 which, in the opinion of a nationally recognized firm of independent certified
public accountants expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such Obligations or Foreign Government
Securities or money were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Foreign Government Securities held under this Indenture. 

  
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 SECTION 8.3. Satisfaction, Discharge and Defeasance of Securities of any Series.

 Unless this Section 8.3 is otherwise specified, pursuant to Section 2.3.16, to be inapplicable to Securities of any
Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the Outstanding Securities of any such Series on the 91st day after the date of the deposit referred to in subparagraph (d) hereof, and the
provisions of this Indenture, as it relates to such Outstanding Securities of any such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, at Company request, execute proper instruments acknowledging the
same), except as to: 
 (a) The rights of Holders of Securities of such Series to receive, from the trust funds
described in subparagraph (d) hereof, (i) payment of the Principal of and each installment of Principal of or interest on the Outstanding Securities of such Series on the Stated Maturity of such Principal or installment of Principal or
interest and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such
Series; 
 (b) The Company’s obligations with respect to such Securities of such Series under Sections 2.5,
2.8 and 2.9; and 
 (c) The rights, powers, trust and immunities of the Trustee hereunder and the duties of the
duties of the Trustee under Section 8.2 and the duty of the Trustee to authenticate Securities of such Series issued on registration of transfer or exchange; 
 provided that, the following conditions shall have been satisfied: 

(d) The Company shall have deposited or caused to be deposited irrevocably with the Trustee as trust funds in trust for
the purpose of making the following payments, specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars (or
such other money or currencies as shall then be legal tender in the United States) and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money
and/or Foreign Government Securities in the same Foreign Currency, which through the payment of interest and principal in respect thereof, in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be
imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, to pay and discharge each installment of Principal (including mandatory sinking fund or analogous payments) of and any interest on all the Securities of such Series on the dates such installments of interest or
Principal are due; 
 (e) Such deposit will not result in a breach or violation of, or constitute a default
under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 

  
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 (f) Such provision would not cause any Outstanding Securities of such Series
then listed on the New York Stock Exchange or other securities exchange to be de-listed as a result thereof; 

(g) No Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on
the date of such deposit or during the period ending on the 91st day after such date; 
 (h) The Company shall
have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or there has been a change in the Federal
income tax law, in each case, to the effect that Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposits, defeasance and discharge and will be subject to Federal
income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred; 

(i) The Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by
the Company with the intent of preferring the Holders of the Securities of such Series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; and 

(j) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that all conditions precedent provided for relating to the defeasance contemplated by this Section have been complied with. 

SECTION 8.4. Defeasance of Certain Obligations. 
 Unless this Section 8.4 is otherwise specified pursuant to Section 2.3.16 to be inapplicable to Securities of any Series, on and after the 91st day after the date of the deposit referred to in
subparagraph (a) hereof, the Company may omit to comply with any term, provision or condition set forth under Sections 4.2 (except as to corporate existence), 4.3, 4.4, 4.5, 4.6, 4,7, 4.8 and 5.1 (and the failure to comply with any such
provisions’ shall not constitute a Default or Event of Default under Section 6.1) and the occurrence of any event described in clause (5) of Section 6.1 shall not constitute a Default or Event of Default hereunder, with respect
to the Securities of such Series, provided that the following conditions shall have been satisfied: 
 (a) With
reference to this Section 8.4, the Company has deposited or caused to be irrevocably deposited (except as provided in Section 8.3) with the Trustee as trust funds in trust, specifically pledged as security for, and dedicated solely to, the
benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars (or such other money or currencies as shall then be legal tender in the United States) and/or U.S. Government
Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency) money and/or Foreign Government Securities in the same Foreign Currency, which through the payment of interest and
Principal in respect thereof, in accordance with their terms, will provide (and without reinvestment and assuming no tax 

  
 41 

 
liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of
independent certified public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of Principal (including mandatory sinking fund or analogous payments) of and any interest on all
the Securities of such Series on the dates such installments of interest or Principal are due; 
 (b) Such
deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 

(c) No Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on
the date of such deposit or during the period ending on the 91st day after such date; 
 (d) The Company shall
have delivered to the Trustee an Opinion of Counsel confirming that Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and defeasance and will be subject to
Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; 
 (e) The Company shall have delivered to the Trustee an Officers’ Certificate stating the deposit was not made by the Company with the intent of preferring the Holders of the Securities of such Series
over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; and 
 (f) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the defeasance
contemplated by this Section have been complied with. 
 SECTION 8.5. Repayment to Company. 

The Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of Principal and interest
that remains unclaimed for two years. After that, Securityholders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person. 

ARTICLE 9 

AMENDMENTS AND WAIVERS 
 SECTION 9.1. Without Consent of Holders. 
 The Company, when authorized by
a Board Resolution, and the Trustee may enter into a supplemental indenture to amend this Indenture or the Securities of one or more Series without consent of any Securityholder for anyone or more of the following purposes: 

(1) To add to the covenants of the Company for the benefit of the Holders of all or any Series of Securities (and if such
covenants are to be for the benefit of less than all Series of Securities, stating that such covenants are expressly being included solely for the benefit of such Series) or to surrender any right or power herein conferred upon the Company;

  
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 (2) To add any additional Events of Default; 

(3) To cure any ambiguity, defect or inconsistency provided that such action pursuant to this clause (3) shall not
adversely affect the interests of the Holders of Securities of any Series in any material respect; 
 (4) To
comply with Article 5; 
 (5) To provide for uncertificated Securities in addition to or in place of certificated
Securities; 
 (6) To make any change that does not adversely affect the rights of any Securityholder;

 (7) To provide for the issuance of and establish the form and terms and conditions of Securities of any Series
as permitted by this Indenture; 
 (8) 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; 
 (9) To secure the Securities pursuant to the requirements of Sections 4.5, 4.6 or otherwise; or

 (10) To comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture
under the TIA. 
 SECTION 9.2. With Consent of Holders. 

The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least 66 2/3% in
principal amount of the Outstanding Securities of each Series affected by such supplemental indenture, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any
supplemental indenture or of modifying in any manner the rights of the Securityholders of each such Series. Except as provided in Section 6.13, the Holders of a majority in principal amount of the Outstanding Securities of each Series affected
by such waiver by notice to the Trustee may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series. 
 It shall not be necessary for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be
sufficient if such consent approves the substance thereof. After a supplemental indenture or 

  
 43 

 
waiver under this section becomes effective, the Company shall mail 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 supplemental indenture or waiver. Any failure by the Company to mail or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity of
any such supplemental indenture or waiver. 
 SECTION 9.3. Limitations. 

Without the consent of each Securityholder affected, an amendment or waiver under Section 9.2 may not: 

(a) Change the Stated Maturity of the Principal of, or any installment of Principal of or interest on, any Security;

 (b) Reduce the Principal of, or the rate of interest on, any Security, or reduce the Principal of an Original
Issue Discount Security that would be due and payable upon Maturity by virtue of a declaration of acceleration; 

(c) Change the place or currency of payment of Principal of or interest on any Security; 

(d) Impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof
(or, in the case of redemption, on or after the redemption date); 
 (e) Reduce the percentage in principal
amount of the Outstanding Securities whose Holders must consent to an amendment or modification of this Indenture or waiver of compliance with certain provision of this Indenture or of certain Defaults; 

(f) Make any change in Sections 6.4, 6.7, 6.13, this 9.3, 10.13 or 10.14; or 

(g) Waive a redemption payment with respect to any Security or change any of the provisions with respect to the redemption
of any Securities. 
 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture
which has expressly been included solely for the benefit of one or more particular Series of Securities, or which modifies the rights of the Holders of Securities of such Series with respect to such covenant or other provision, shall be deemed not
to affect the rights under this Indenture of the Holders of Securities of any other Series. 
 SECTION 9.4. Compliance with
Trust Indenture Act. 
 Every amendment to this Indenture or the Securities of one or more Series shall be set forth in an
indenture supplemental hereto that complies with the TIA as then in effect. 

  
 44 

 SECTION 9.5. Revocation and Effect of Consents. 

Until an amendment 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 if the Trustee receives the notice of revocation before the date the amendment or waiver becomes effective. 
 Upon the execution of any supplemental indenture, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes. Any
amendment or waiver once effective shall bind every Securityholder of each Series affected by such amendment or waiver except as otherwise provided in Section 9.3. In that case the amendment or waiver shall bind each Holder of a Security who
has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security. 
 SECTION 9.6. Notation on or Exchange of Securities. 
 The Trustee may place
an appropriate notation about an amendment or waiver on any Security of any Series thereafter authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall authenticate upon request new Securities of that
Series that reflect the amendment or waiver. 
 SECTION 9.7. Trustee Protected. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modification
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and 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 need not sign any supplemental indenture that adversely affects its rights or the rights of any Holder of any outstanding Series under this Indenture. 

ARTICLE 10 

MISCELLANEOUS 

SECTION 10.1. 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 TIA, such required or deemed provision shall
control. 

  
 45 

 SECTION 10.2. Notices. 

Any notice or communication by the Company or the Trustee to the other is duly given if in writing and delivered in person or mailed by
first-class mail: 
 if to the Company: 
 Kohl’s Corporation 
 N54 W13600 Woodale Drive 

Menomonee Falls, Wisconsin 53051 
 Attention: Arlene Meier 
 with a copy to: 

Peter M. Sommerhauser 
 Godfrey & Kahn, S.C. 
 780 North Water Street 

Milwaukee, WI 53202 
 if to the Trustee: 
 The Bank of New York 

101 Barclay Street 21 W 
 New York, New York 10286 
 Attention: Corporate Trust Trustee Administration

 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or
communications. 
 Any notice or communication to a Securityholder shall be mailed by first-class mail to his address shown on
the register kept by the Registrar and, if any Bearer Securities are outstanding, published in an Authorized Newspaper. Failure to mail a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency
with respect to other Securityholders 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 Securityholder receives it. 
 If the
Company mails a notice or communication to Securityholders, it shall mail a copy to the Trustee and each Agent at the same time. 
 SECTION 10.3. Acts of Holders; Record Dates. 
 (a) Any
request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
Holders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly
required, to the Company. 
 (b) The Company may, in the circumstances permitted by the TIA, fix any day as the
record date for the purpose of determining the Holders of Securities of any Series entitled to give or take any request, demand, authorization, direction, notice, consent, waiver or 

  
 46 

 
other action, or to vote on any action, authorized or permitted, to be given or taken by Holders of Securities of such Series. If not set by the Company prior to the first solicitation of a
Holder of Securities of such Series made by any Person in respect of any such action, or, in the case of any such vote, prior to such vote, the record date for any such action or vote shall be the 30th day (or, if later, the date of the most recent
list of Holders required to be provided pursuant to Section 2.7) prior to such first solicitation or vote, as the case may be. With regard to any record date for action to be taken by the Holders of one or more Series of Securities, only the
Holders of Securities of such Series on such date (or their duly designated proxies) shall be entitled to give or take, or vote on, the relevant action. 
 (c) Any request, demand, authorization, direction, notice, consent, waiver or other action of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every
Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such
action is made upon such Security. 
 SECTION 10.4. Communication by Holders with Other Holders. 

Securityholders of any Series may communicate pursuant to TIA §312(b) with other Securityholders of that Series or any other Series
with respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA §312(c). 

SECTION 10.5. Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
Trustee: 
 (1) An Officers’ Certificate stating that, in the opinion of the signers, all conditions
precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(2) An Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied
with. 
 SECTION 10.6. 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 a
certificate provided pursuant to TIA §314(a) (4)) shall comply with the provisions of TIA §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; and 

(4) A statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with.

 SECTION 10.7. Rules by Trustee and Agents. 
 The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series. The Paying Agent or Registrar may make reasonable rules and set reasonable requirements for its
functions. 
 SECTION 10.8. Legal Holidays. 
 Unless otherwise provided by Board Resolution or indenture supplemental hereto for a particular Series, a “Legal Holiday” is a Saturday, a Sunday, or a day on which banking institutions or trust
companies are not required to be open. If a payment date is a Legal Holiday at a place of payment, payment may be made at the place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period.

 SECTION 10.9. Governing Laws. 
 THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THIS INDENTURE AND THE SECURITIES, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES. 
 SECTION 10.10. No Adverse Interpretation of Other Agreements. 
 This
Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

SECTION 10.11. No Recourse Against Others. 
 All liability described in the Securities of any director, officer, employee or stockholders, as such, of the Company is waived and released. 

SECTION 10.12. Duplicate Originals. 
 The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

SECTION 10.13. Securities in a Foreign Currency or in ECU. 

Unless otherwise specified in an Officers’ Certificate delivered pursuant to Section 2.3 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 

  
 48 

 
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. For purposes of this Section 10.13,
“Market Exchange Rate” shall mean the noon Dollar buying rate in New York City 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 Communities (or any successor thereto) as published in the Official Journal of the European Communities (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 or in the country of issue
of the currency in question, which for purposes of the ECD shall be Brussels, Belgium, or such other quotations or, in the case of ECUs, rates of exchange as the Trustee, upon consultation with the Company, 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 a 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, be conclusive to the extent permitted by law for all purposes and irrevocably binding upon the Company and all
Holders. 
 SECTION 10.14. Judgment Currency. 
 The Company 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 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, to the extent permitted by applicable law, 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 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, or any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), 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 

  
 49 

 
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 are authorized or required by law, regulation or executive order to close.

 ARTICLE 11 
 SINKING FUNDS 
 SECTION 11.1. 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 11.2. 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 11.2. Satisfaction of Sinking Fund Payments with Securities. 
 The
Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such 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 applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have
been redeemed either at the election of the Company 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 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 11.2, 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 a Company 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 a Company Order pay over
and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash
payment required to be released to the Company. 

  
 50 

 SECTION 11.3. Redemption of Securities for Sinking Fund. 

Not less than 60 days (unless otherwise indicated in the Board Resolution or Officers’ Certificate or supplemental indenture in
respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company 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 11.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not less than 45 days
(unless otherwise indicated in the Board Resolution or Officers’ Certificate or supplemental indenture 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 3.2 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.3. Such notice
having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.4, 3.5 and 3.6. 
 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed and their respective corporate seals to be hereunto affixed and attested, all as of the day and year first above
written. 
  

											
		 		 	KOHL’S CORPORATION
				
	(SEAL)	 		 	By:	 	 /s/ William S. Kellogg

		 		 		 		 	Name:	 	William S. Kellogg
		 		 		 		 	Title:	 	 Chairman of the Board and

Chief Executive Officer

 Attest: 
  

			
	
	/s/ John F. Herma
	Name:	 	John F. Herma
	Title:	 	Executive Vice President and
		 	Secretary

  
 51 

											
		 		 	THE BANK OF NEW YORK, as Trustee
				
	(SEAL)	 		 	By:	 	 /s/ Mary La Gumina

		 		 		 		 	Name:	 	Mary La Gumina
		 		 		 		 	Title:	 	Assistant Vice President

  

					
	STATE OF Wisconsin	 	)	  	
		 	)	  	ss:
	COUNTY OF Waukesha	 	)	  	

 On the 31st day of January, 1996, before me personally came William S. Kellogg and John F. Herma, to me
known, who, being by me duly sworn, did depose and say that they are Chairman of the board and Chief Executive Officer and Executive Vice President and Secretary, respectively, of Kohl’s Corporation, one of the corporations described in and
which executed the foregoing instrument; that each of them knows the seal of said corporation; that it was so affixed by authority of the Board of Directors of said corporation; and that each of them signed his name thereto by like authority.

  

	
	
	/s/ Teri Chatham
	Notary Public
	Commission Expires on 7-19-98

  

					
	STATE OF                         
	 	)	  	
		 	)	  	ss:
	COUNTY OF                     	 	)	  	

 On the 25th day of January, 1996, before me personally came Mary La Gumina, to me known, who, being by me
duly sworn, did depose and say that he/she is Asst. Vice President of The Bank of New York, one of the corporations described in and which executed the foregoing instrument; that he/she knows the seal of said corporation; that the seal affixed to
said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation; and that he/she signed his/her name thereto by like authority. 

 

	
	
	/s/ William J. Cassels
	Notary Public
	My Commission Expires on
                                    

 6937388_1 

  
 52Fourth Supplemental Indenture

  

 
 Exhibit 4.2 

EXECUTION VERSION 

FOURTH SUPPLEMENTAL INDENTURE 
 Dated as of October 12, 2011 
 by and among 

JOY GLOBAL INC., 
 as Issuer,  
 JOY TECHNOLOGIES INC. 

P&H MINING EQUIPMENT INC., 
 N.E.S. INVESTMENT CO., 
 CONTINENTAL CRUSHING & CONVEYING INC.,
and 
 LETOURNEAU TECHNOLOGIES, INC. 
 as Guarantors 
 and  

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as Trustee 
  

 
 5.125% Senior
Notes due 2021 
  
  

 
  

 

 TABLE OF CONTENTS 

 
  

 

									
	 	 	 	 	 	  	PAGE	 
	
	ARTICLE 1

DEFINITIONS
	  
   

				
	Section 1.01.	 		 	 Definitions
	  	 	1	  
	
	ARTICLE 2

ESTABLISHMENT OF SECURITIES
	  

  

				
	Section 2.01.	 		 	Title of Securities	  	 	9	  
	Section 2.02.	 		 	 Aggregate Principal Amount of Notes; Additional Notes
	  	 	9	  
	Section 2.03.	 		 	 Authentication and Delivery of the Notes
	  	 	10	  
	Section 2.04.	 		 	 Payment of Principal and Interest on the Notes; Form of the Notes; Global Notes
	  	 	11	  
	Section 2.05.	 		 	 Registration, Transfer and Exchange
	  	 	12	  
	Section 2.06.	 		 	 Legends
	  	 	15	  
	Section 2.07.	 		 	 Paying Agent; Custodian; Place of Payment
	  	 	15	  
	Section 2.08.	 		 	 Subsidiary Guarantees
	  	 	16	  
	Section 2.09.	 		 	 Redemption
	  	 	19	  
	Section 2.10.	 		 	 Change of Control
	  	 	20	  
	Section 2.11.	 		 	 Sinking Fund
	  	 	22	  
	Section 2.12.	 		 	 Methods of Receiving Payments on the Notes
	  	 	22	  
	Section 2.13.	 		 	 Consolidation, Merger, Conveyance, Transfer or Lease
	  	 	22	  
	Section 2.14.	 		 	 Limitation on Liens
	  	 	23	  
	Section 2.15.	 		 	 Limitation on Sale and Lease-Back Transactions
	  	 	25	  
	Section 2.16.	 		 	 Additional Events of Default
	  	 	26	  
	Section 2.17.	 		 	 Modification and Waiver
	  	 	27	  
	Section 2.18.	 		 	 Defeasance
	  	 	28	  
	Section 2.19.	 		 	 Original Issue Discount
	  	 	31	  
	
	ARTICLE 3

MISCELLANEOUS PROVISIONS
	  

  

				
	Section 3.01.	 		 	 Recitals By Company and Guarantors
	  	 	31	  
	Section 3.02.	 		 	 Application to Notes Only
	  	 	31	  
	Section 3.03.	 		 	 Benefits
	  	 	32	  
	Section 3.04.	 		 	 Effective Date
	  	 	32	  
	Section 3.05.	 		 	 Ratification
	  	 	32	  
	Section 3.06.	 		 	 Counterparts
	  	 	32	  
	Section 3.07.	 		 	 Governing Law
	  	 	32	  
				
	EXHIBIT A	 		 	FORM OF NOTE	  			

  
 i 

 THIS FOURTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) is made
as of October 12, 2011, by and among JOY GLOBAL INC., a Delaware corporation (along with any successor thereto, the “Company”), JOY TECHNOLOGIES INC., a Delaware corporation, P&H MINING EQUIPMENT INC., a Delaware
corporation, N.E.S. INVESTMENT CO., a Delaware corporation, CONTINENTAL CRUSHING & CONVEYING INC., a Delaware corporation, and LETOURNEAU TECHNOLOGIES, INC., a Texas corporation, as guarantors, and WELLS FARGO BANK, NATIONAL ASSOCIATION, a
national banking association, as Trustee (along with any successor thereto, the “Trustee”). 
 WHEREAS, the
Company and the Trustee entered into that certain Indenture dated as of November 10, 2006 (the “Base Indenture”) which provides for the issuance by the Company from time to time of Securities, in one or more Series as provided
therein; 
 WHEREAS, the Company has determined to issue a Series of Securities, and the Guarantors have determined to issue
Guarantees of such Securities, as provided herein; 
 WHEREAS, Section 8.1 of the Base Indenture provides for the Company,
the Guarantors and the Trustee to enter into an indenture supplemental to the Base Indenture to establish the form or terms of Securities of any Series as provided by Sections 2.1 and 2.3 of the Base Indenture, to provide for any guarantees of the
Securities of such Series and to amend, modify or supplement the Base Indenture as it applies to such Series; and 
 WHEREAS,
all the conditions and requirements necessary to make this Supplemental Indenture, when duly executed and delivered, a valid and binding agreement in accordance with its terms and for the purposes herein expressed, have been performed and fulfilled.

 NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE 1

 DEFINITIONS 
 Section 1.01. Definitions. For all purposes of this Supplemental Indenture, except as otherwise expressly provided for or unless the context otherwise requires: 

(a) Capitalized terms used but not defined herein shall have the respective meanings given them in the Base Indenture; 

  
 1 

 (b) All references herein to Articles and Sections, unless otherwise specified, refer to the
corresponding Articles and Sections of this Supplemental Indenture; and 
 (c) The following terms shall have the indicated
definitions and if the definition of any of the following terms differs from its respective definition set forth in the Base Indenture, the definition set forth herein shall control: 

“41.1% Acquisition” means the acquisition by the Company of approximately 41.1% of the outstanding common stock of
International Mining Machinery Holdings Limited pursuant to the IMM Purchase Agreement. 
 “Acquisition Deadline
Date” means (a) if the Company receives regulatory approval of the 41.1% Acquisition from the Anti-monopoly Bureau of the Ministry of Commerce of The People’s Republic of China (“MOFCOM”) prior to July 1,
2012, July 1, 2012 or (b) if the Company has not received regulatory approval for the 41.1% Acquisition from MOFCOM prior to July 1, 2012, October 1, 2012. 

“Attributable Debt” means, on the date of any determination, the present value of the obligation of the lessee for net
rental payments during the remaining term of the lease included in a Sale and Leaseback Transaction, including any period for which such lease has been extended or may, at the option of the lessor, be extended. Such present value shall be calculated
using a discount rate equal to the interest rate set forth or implicit in the terms of such lease or, if not practicable to determine such rate, the weighted average interest rate per annum borne by the Notes on such date of determination, in either
case compounded semi-annually. “Net rental payments” means the total amount of rent payable by the lessee after excluding amounts required to be paid on account of maintenance and repairs, insurance, taxes, assessments, water rates
and similar charges. 
 “Base Indenture” has the meaning specified in the recitals hereto. 

“Below Investment Grade Rating Event” means that the Notes cease to be rated with an Investment Grade Rating by each of
the Rating Agencies on any date during the period (the “Trigger Period”) commencing on the date of the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following
consummation of such Change of Control (which Trigger Period shall be extended following consummation of a Change of Control for so long as any of the Ratings Agencies has publicly announced that it is considering a possible ratings downgrade);
provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below
Investment Grade Rating Event) if any of the Rating Agencies making the reduction in rating to 

  
 2 

 
which this definition would otherwise apply does not announce or publicly confirm or inform the Company in writing at its request (with a copy to the Trustee) that the reduction was the result,
in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment
Grade Rating Event). 
 “Business Day” means any day, other than a Saturday or Sunday, that is not a day on
which the Trustee or banking institutions in New York, New York are authorized or obligated by law or executive order to close. 

“Certificated Notes” has the meaning specified in Section 2.05(e). 

“Change of Control” means the occurrence of any of the following: 

(1) the direct or indirect sale, lease or exchange (other than by way of merger or consolidation), in one or a series of
related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d)(3) of the Securities Exchange Act of 1934) other than the
Company or one of its Subsidiaries; 
 (2) the consummation of any transaction (including, without limitation,
any merger or consolidation) the result of which is that any “person” (as defined above), becomes the beneficial owner, directly or indirectly, of more than 50% of the Company’s Voting Stock, measured by voting power rather than
number of shares; 
 (3) the Company consolidates with, or merges with or into, any Person, or any Person
consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or such other Person is converted into or exchanged for cash, securities or other
property, other than any such transaction where the shares of the Voting Stock of the Company outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving
Person immediately after giving effect to such transaction; 
 (4) the first day on which the majority of the
members of the board of directors of the Company cease to be Continuing Directors; or 
 (5) the adoption of a
plan relating to the liquidation or dissolution of the Company (other than in a transaction that complies with Section 2.13). 
 “Change of Control Offer” has the meaning specified in Section 2.10(a). 

  
 3 

 “Change of Control Payment” has the meaning specified in
Section 2.10(a). 
 “Change of Control Payment Date” has the meaning specified in Section 2.10(a).

 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment
Grade Rating Event; provided that no Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated. 

“Company” has the meaning specified in the recitals hereto. 

“Comparable Treasury Issue” means the U.S. Treasury security or securities selected by an Independent Investment Banker
as having a maturity comparable to the remaining term of the Notes to be redeemed that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable
maturity to the remaining term of such Notes. 
 “Comparable Treasury Price” means, with respect to any
redemption date, 
 (1) the average of the Reference Treasury Dealer Quotations for that redemption date, after
excluding the highest and lowest of the Reference Treasury Dealer Quotations; or 
 (2) if the Independent
Investment Banker obtains fewer than three Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received. 
 “Consolidated Subsidiary” means a Subsidiary of the Company whose financial statements are consolidated with those of the Company in accordance with generally accepted accounting
principles. 
 “Consolidated Total Assets” means the total assets of the Company and its Consolidated
Subsidiaries, as shown on the consolidated balance sheet in the Company’s latest quarterly or annual report filed with the Securities and Exchange Commission, prepared in accordance with U.S. generally accepted accounting principles.

 “Continuing Directors” means, as of any date of determination, any member of the board of directors of the
Company who: 

  
 4 

 (1) was a member of such board of directors on the date of the issuance of
the Notes; or 
 (2) was nominated for election, elected or appointed to such board of directors with the
approval of a majority of the Continuing Directors who were members of such board of directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Company’s proxy statement in which such
member was named as a nominee for election as a director, without objection to such nomination). 
 “Covenant
Defeasance” has the meaning specified in Section 2.18(b). 
 “Credit Agreement” means the Credit
Agreement dated as of October 27, 2010 entered into by and among Joy Global Inc., certain of its domestic subsidiaries, Bank of America, N.A., JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, RBS Citizens, N.A., The Bank of
Tokyo-Mitsubishi UFJ, Ltd., Mizuho Corporate Bank, and the other lenders and parties named therein, as amended and modified from time to time. 
 “Debt” means, at any time, (1) all obligations of the Company and all obligations of any Consolidated Subsidiary, to the extent such obligations would appear as a liability upon the
consolidated balance sheet of the Company and the Consolidated Subsidiaries, in accordance with generally accepted accounting principles, (a) for borrowed money, (b) evidenced by bonds, debentures, notes or other similar instruments, and
(c) in respect of any letters of credit supporting any Debt of others, and (2) all guarantees by the Company or any Consolidated Subsidiary of Debt of others. 
 “Depositary” means, with respect to the Notes issuable or issued in whole or in part in the form of one or more Global Notes, a clearing agency registered under the Securities Exchange
Act of 1934 that is designated to act as Depositary for such Notes as contemplated by Section 2.05. 

“DTC” has the meaning specified Section 2.04(d). 

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

“Funded Debt” means (1) all Debt for money borrowed having a maturity of more than 12 months from the date as of
which the determination is made or having a maturity of 12 months or less but by its terms being renewable or extendible beyond 12 months from such date at the option of the borrower (excluding any amount thereof included in current liabilities) and
(2) all rental obligations payable more than 12 months from such date under leases that are capitalized in accordance with generally accepted accounting principles (such rental obligations to be included as Funded Debt at the amount so
capitalized). 

  
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 “Global Note” has the meaning specified in Section 2.04(d).

 “Guarantee” has the meaning specified in Section 2.08(a). 

“Guarantor” means the guarantors that shall initially guarantee the Notes on the Issue Date, which shall be each of Joy
Technologies Inc., P&H Mining Equipment Inc., N.E.S. Investment Co., Continental Crushing & Conveying Inc. and LeTourneau Technologies, Inc., and, as the context may require, each other Subsidiary that in the future guarantees the Notes
pursuant to Section 2.08(h) and any successor to any Guarantor. 
 “IMM Purchase Agreement” means the
Share Purchase Agreement, dated July 11, 2011, among TJCC Holdings Limited, Newco Hong Kong 123 Limited and the Company, as amended and restated by that certain amendment dated July 14, 2011. 

“incur” means to, directly or indirectly, issue, assume, guaranty, incur, become directly or indirectly liable with
respect to (including as a result of an acquisition (by way of merger, consolidation or otherwise)), or otherwise become responsible for, contingently or otherwise. 
 “Indenture” means the Base Indenture, as amended, modified and supplemented by this Supplemental Indenture. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers selected by the Company. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or the equivalent investment grade
credit rating from any replacement Rating Agency selected by the Company. 
 “Issue Date” means the date of the
initial issuance of the Notes, which shall be the date hereof. 
 “Legal Defeasance” has the meaning specified
in Section 2.18(a). 
 “Lien” means any mortgage, pledge, hypothecation, encumbrance, security interest,
statutory or other lien, or preference, priority or other security or similar agreement or preferential arrangement of any kind or nature whatsoever, including any conditional sale or other title retention agreement having substantially the same
economic effect as any of these. 
 “Moody’s” means Moody’s Investors Services. 

  
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 “Net Proceeds” means, with respect to a Sale and Leaseback Transaction, the
aggregate amount of cash or cash equivalents received by the Company or a Consolidated Subsidiary, less the sum of all payments, fees, commissions and expenses incurred in connection with such transaction, and less the amount (estimated reasonably
and in good faith by the Company) of income, franchise, sales and other applicable taxes required to be paid by the Company or any Consolidated Subsidiary in connection with such transaction in the taxable year that such transaction is consummated
or in the two immediately succeeding taxable years, the computation of which shall take into account the reduction in tax liability resulting from any available operating losses and net operating loss carryovers, tax credits and tax credit
carryforwards, and similar tax attributes. 
 “Nonrecourse Obligation” means indebtedness or lease payment
obligations substantially related to (i) the acquisition of assets not previously owned by the Company or any Consolidated Subsidiary or (ii) the financing of a project involving the development or expansion of the Company’s or any
Consolidated Subsidiary’s properties, in either case, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company or any Consolidated Subsidiary or any Subsidiaries’ assets other than the assets
which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds thereof). 
 “Notes” has the meaning specified in Section 2.01. 

“Participants” means members of, or participants in, the Depositary. 

“Primary Treasury Dealer” has the meaning specified in the definition of “Reference Treasury Dealer.”

 “Principal Property” means any manufacturing plant, warehouse or other similar facility or any parcel of
real estate or group of contiguous parcels of real estate owned or leased by the Company or any Consolidated Subsidiary and the gross book value, without deduction of any depreciation reserves, of which on the date as of which the determination is
being made exceeds 1% of Consolidated Total Assets. 
 “Rating Agency” means (1) each of Moody’s and
S&P; and (2) if either of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating
organization” within the meaning of Section 3(a)(62) of the Securities Exchange Act of 1934, as amended, selected by the Company (as certified by a resolution of the Company’s board of directors) as a replacement agency for
Moody’s or S&P, or both, as the case may be. 
 “Reference Treasury Dealer” means each of Goldman,
Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and 

  
 7 

 
one other nationally recognized investment banking firm that is a Primary Treasury Dealer to be selected by the Company, and their respective successors (a “Primary Treasury
Dealer”), unless any of them ceases to be a primary U.S. Government securities dealer in the United States, in which case the Company will substitute another nationally recognized investment banking firm that is a Primary Treasury Dealer.

 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any
redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed as a percentage of its principal amount) quoted in writing to the Independent Investment
Banker by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Register of Notes” has the meaning specified in Section 2.05. 
 “Registrar” has the meaning specified in Section 2.05. 

“S&P” means Standard & Poor’s Ratings Services. 

“Sale and Leaseback Transaction” means any arrangement whereby the Company or any of its Subsidiaries has sold or
transferred, or will sell or transfer, property and has or will take back a lease pursuant to which the rental payments are calculated to amortize the purchase price of the property substantially over the useful life of such property. 

“Significant Subsidiary” means any of the Company’s Subsidiaries that would be a “Significant
Subsidiary” within the meaning of Rule 1-02 under Regulation S-X promulgated by the Securities and Exchange Commission. 
 “Special Acquisition Redemption Date” means the earlier to occur of (1) the 30th day (or if such day is not a Business Day, the first Business Day thereafter) after the Acquisition
Deadline Date, if the 41.1% Acquisition has not been completed on or prior to the Acquisition Deadline Date, or (2) the 30th day (or if such day is not a Business Day, the first Business Day thereafter) following the termination of the IMM
Purchase Agreement for any reason. 
 “Special Acquisition Redemption Trigger” has the meaning specified in
Section 2.09(b). 
 “Subsidiary” means a corporation, a majority of the outstanding Voting Stock of which
is owned, directly or indirectly, by the Company and/or by one or more of its other Subsidiaries, a partnership in which the Company or a Subsidiary of the Company is, at the time, a general partner, and any other entity

  
 8 

 
in which the Company and/or one of its Subsidiaries, directly or indirectly, has a majority ownership interest. 
 “Supplemental Indenture” has the meaning specified in the recitals hereto. 
 “Treasury Rate” means, with respect to any redemption date, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated on the
third Business Day preceding the redemption date, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date. 

“Trigger Period” has the meaning specified in the definition of “Below Investment Grade Rating Event.”

 “Trustee” has the meaning specified in the recitals hereto. 

“Voting Stock” of any specified person as of any date means the capital stock of such person that is at the time
entitled to vote generally in the election of the board of directors of such person. 
 ARTICLE 2 

ESTABLISHMENT OF SECURITIES 

The following provisions of this Article 2 are made pursuant to Section 2.1 of the Base Indenture in order to establish and set
forth the terms of a Series of Securities. In the event that any of the following terms conflict with those set forth in the Base Indenture, the terms set forth herein shall control. 

Section 2.01. Title of Securities. There is hereby established a Series of Securities designated the “5.125% Senior Notes due
2021” (the “Notes”). 
 Section 2.02. Aggregate Principal Amount of Notes; Additional Notes.

 (a) There are initially to be authenticated and delivered $500,000,000 principal amount of the Notes. 

(b) At any time and from time to time after the Issue Date there may be authenticated and delivered an unlimited principal amount of
additional Notes without the consent of any Holder of the Notes. Any such additional Notes will have the same ranking, interest rate, maturity date, redemption rights and other terms as any outstanding Notes, other than with respect to the date of
issuance, the issue price and, in some cases, the first interest payment date. All Notes issued 

  
 9 

 
hereunder, including any additional Notes, will constitute a single Series of Securities under the Indenture; provided, however, that any such additional Notes that are not fungible
with the Notes issued on the Issue Date for United States federal income tax purposes shall be issued with CUSIP and ISIN numbers different from the CUSIP and ISIN numbers assigned to the Notes issued on the Issue Date. 

(c) Nothing contained in this Section 2.02 or elsewhere in the Indenture, or in the Notes, is intended to or shall limit execution
by the Company or authentication or delivery by the Trustee of Notes under the circumstances contemplated by Sections 2.8, 2.9, 2.11 and 8.5 of the Base Indenture. 
 Section 2.03. Authentication and Delivery of the Notes. 
 (a) At any time
and from time to time after the execution and delivery of this Supplemental Indenture, the Company may deliver Notes executed by the Company to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver such Notes to or
upon the written order of the Company, signed by both (i) the chairman of its Board of Directors, or any vice chairman of its Board of Directors, or its president or any vice president and (ii) its treasurer, any assistant treasurer, its
secretary or any assistant secretary, without further action by the Company. In authenticating such Notes and accepting the additional responsibilities under the Indenture in relation to such Notes, the Trustee shall be entitled to receive and
(subject to Section 6.1 of the Base Indenture) shall be fully protected in relying upon: 
 (i) an
Officers’ Certificate prepared in accordance with Section 11.7 of the Base Indenture; and 
 (ii) an
Opinion of Counsel prepared in accordance with Section 11.7 of the Base Indenture, which shall state that the Base Indenture, this Supplemental Indenture, the Notes and the Guarantees have been duly authorized and, when authenticated and
delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company and the Guarantors, as applicable, enforceable in
accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to general equity principles, regardless of
whether such enforceability is considered in a proceeding in equity or at law. 
 (b) The Trustee shall have the right to
decline to authenticate and deliver any Notes under this Section if the Trustee, being advised by counsel, determined that such action may not lawfully be taken by the Company or if the 

  
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issue of such Notes pursuant to the Indenture will affect the Trustee’s own rights, duties or immunities under the Indenture in a manner not reasonably acceptable to the Trustee. 

(c) Notwithstanding the foregoing, if any Notes have been authenticated and delivered hereunder but never issued and sold by the Company,
and the Company shall deliver such Notes to the Trustee for cancellation as provided in Section 2.10 of the Base Indenture, together with a written statement (which need not comply with Section 11.7 of the Base Indenture and need not be
accompanied by an Opinion of Counsel) stating that such Notes have never been issued and sold by the Company, for all purposes of the Indenture such Notes shall be deemed never to have been authenticated and delivered hereunder and shall never be
entitled to the benefits of the Indenture. 
 (d) Notwithstanding anything in the Indenture to the contrary, authentication and
execution of any Notes by counterpart shall satisfy the requirements of the Indenture with respect to the authentication and execution of such Notes. 
 Section 2.04. Payment of Principal and Interest on the Notes; Form of the Notes; Global Notes. 
 (a) The Notes will mature on October 15, 2021 and will bear interest at the rate of 5.125% per annum. Interest on the Notes will be payable semi-annually, in cash, in arrears on April 15
and October 15 of each year, commencing on April 15, 2012, to the Holders thereof at the close of business on the immediately preceding April 1 and October 1 of each year. Interest on the Notes will accrue from and including the
most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance of the Notes. Interest on the Notes will be computed on the basis of a 360-day year comprised of twelve 30-day months.

 (b) The Notes shall be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 (c) The Notes shall be issued in registered form without coupons, substantially in the form of Exhibit A attached hereto. The
form of the Trustee’s certificate of authentication for the Notes shall be in substantially the form set forth in the form of Note attached hereto as Exhibit A. Each Note shall be dated the date of authentication thereof. 

(d) The entire initially issued principal amount of the Notes shall initially be evidenced by one or more Global Securities
(collectively, the “Global Notes”) registered in the name of Cede & Co., as nominee for The Depository Trust Company (“DTC”), or another nominee of DTC. The Company initially appoints DTC to act as
Depositary with respect to the Global Notes and the 

  
 11 

 
Trustee to act as custodian with respect to the Global Notes. So long as the Depositary, or its nominee, is the registered Holder and owner of the Global Notes, the Depositary or such nominee, as
the case may be, will be considered the sole owner and Holder of the Notes for all purposes under the Indenture. 
 Section
2.05. Registration, Transfer and Exchange. 
 (a) Registrar; Register of Notes. The Company shall cause to
be kept at the Corporate Trust Office of the Trustee a register of Notes (the register maintained in such office and in any other office or agency of the Company in a place of payment being herein sometimes collectively referred to as the
“Register of Notes”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Notes and of transfers of Notes. The Trustee is hereby appointed
“Registrar” for the purpose of registering the Notes and transfers of the Notes as herein provided. The Company may appoint one or more co-Registrars with respect to the Notes and the term “Registrar” includes any
co-Registrar. The Registrar shall retain copies of all letters, notices and other written communications received pursuant to Section 2.8 of the Base Indenture or this Section 2.05. The Company shall have the right to inspect and make
copies of all such letters, notices or other written communications at any reasonable time upon the giving of reasonable written notice to the Registrar. 
 (b) No Obligation of the Trustee. The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under the Indenture
or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Participants or beneficial owners of interests in any Global Note) other than to require delivery of such certificates and
other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, the Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof.
Neither the Trustee nor any agent of the Company or the Trustee shall have any responsibility for the actions or omissions of the Depositary, or the accuracy of the books and records of the Depositary. 

(c) Transfers of Notes and Interests in Notes.  

(i) The Registrar shall not be required (i) to issue, authenticate, register the transfer of or exchange Notes for a
period of 15 days before the mailing of a notice of redemption of such Notes to be redeemed or (ii) to register the transfer of or exchange of any Notes so selected for redemption in whole or in part. 

(ii) All Notes issued upon any transfer or exchange of Notes shall be valid and binding obligations of the Company,
evidencing the 

  
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same debt, and entitled to the same benefits under the Indenture, as the Notes surrendered upon such transfer or exchange. 

(iii) Notwithstanding any other provision of this Section 2.05, unless and until it is exchanged in whole or in part
for Certificated Notes, the Global Notes may not be transferred except as a whole by the Depositary to a nominee of such Depositary, or by a nominee of such Depositary to such Depositary or another nominee of such Depositary, or by such Depositary
or any such nominee to a successor Depositary or a nominee of such successor Depositary. 
 (iv) Ownership of
interests in the Global Notes will be shown on, and the transfer of those ownership interests will be effected through, records maintained by the Depositary (with respect to Participants’ interests) and such Participants (with respect to the
owners of beneficial interests in such Global Notes). 
 (d) Cancellation or Adjustment of Global Notes. At such time as
all beneficial interests in a particular Global Note have been exchanged for Certificated Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained
and canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who shall take delivery thereof in the form of a beneficial interest in another Global Note
or for Certificated Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on the Schedule of Increases or Decreases to such Global Note by the Trustee or by the Depositary
at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who shall take delivery thereof in the form of a beneficial interest in another Global Note, such other
Global Note shall be increased accordingly and an endorsement shall be made on the Schedule of Increases or Decreases to such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

(e) Certificated Notes. 
 (i) If at any time the Depositary (A) notifies the Company that it is unwilling or unable to continue as Depositary for the Global Notes and the Depositary fails to appoint a successor Depositary or
(B) ceases to be a clearing agency registered under the Exchange Act, then the Company shall appoint a successor Depositary eligible under applicable law with respect to such Global Notes. If a successor Depositary eligible to be a clearing
agency registered under the Exchange Act for such Global Notes is not appointed by the Company within 90 days after the date 

  
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Company receives such notice or becomes aware of the unwillingness, inability or ineligibility of the Depositary set forth in clauses (A) and (B) above, the Company will execute, and
the Trustee, upon receipt of the Company’s order for the authentication and delivery of definitive Notes of such series and tenor (“Certificated Notes”), will authenticate and deliver such Certificated Notes, in any authorized
denominations, in an aggregate principal amount equal to the principal amount of such Global Notes, in exchange for such Global Notes. 
 (ii) In addition, if either (A) the Company, at its option, notifies the Trustee in writing that it elects to cause the issuance of the Certificated Notes or (B) there has occurred and is
continuing a default or Event of Default with respect to the Notes and the Depositary requests Certificated Notes, then in either such case, the Company shall execute, and the Trustee, upon receipt of the Company’s order for the authentication
and delivery of Certificated Notes, will authenticate and deliver, Certificated Notes in any authorized denominations, in an aggregate principal amount equal to the principal amount of the Global Notes, in exchange for such Global Notes. 

(iii) Any time the Notes are to be authenticated and delivered in the form of Certificated Notes, the Company agrees to
supply the Trustee with a reasonable supply of Certificated Notes without the legend required by Section 2.06(a) and the Trustee agrees to hold such Notes in safekeeping until authenticated and delivered pursuant to the terms of the Indenture.

 (iv) The Depositary may surrender one or more Global Notes in exchange in whole or in part for Certificated
Notes as provided herein on such terms as are acceptable to the Company and such Depositary. Thereupon, the Company shall execute, and the Trustee shall authenticate and deliver, without service charge, 

(A) to the Person specified by such Depositary new Notes of the same series and tenor, of any authorized denominations as
requested by such Person, in an aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Global Note; and 
 (B) to such Depositary a new Global Note in a denomination equal to the difference, if any, between the principal amount of the surrendered Global Note and the aggregate principal amount of Notes
authenticated and delivered pursuant to clause (A) above. 

  
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 (v) Notes issued in exchange for a Global Note pursuant to this
Section 2.05 shall be registered in such names and in such authorized denominations as the Depositary for such Global Note, pursuant to instructions from its Participants or otherwise, shall instruct the Trustee or an agent of the Company or
the Trustee. The Trustee or such agent shall deliver such Notes to or as directed by the Persons in whose names such Notes are so registered. 
 Section 2.06. Legends. 
 (a) Each Global Note shall bear a legend in
substantially the following form: 
 THIS SECURITY IS A SECURITY IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED OR TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 Section 2.07. Paying Agent; Custodian; Place of Payment.
The Company initially appoints the Trustee to act as the Paying Agent with respect to the Notes. The Company may appoint one or more additional Paying Agents, and the term “Paying Agent” includes any additional Paying Agent. The
Corporate Trust Offices of the Trustee shall be the initial Place of Payment. The office of any additional Paying Agent shall also be a Place of Payment. 

  
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 Section 2.08. Subsidiary Guarantees. 

(a) Unconditional Guarantee. Each Guarantor hereby fully and unconditionally guarantees (each such guarantee is referred to herein
as a “Guarantee”), jointly and severally, as primary obligor and not merely as surety, to each Holder of the Notes and to the Trustee, the prompt payment when due (whether by acceleration or otherwise) at the place and in the manner
provided in the terms of the Notes and in the Indenture of: (i) the principal of, premium, if any, interest, if any, and additional amounts required by the Notes, if any, on each of the Notes at the respective times provided in the terms of the
Notes and in the Indenture in respect of the Notes, whether at maturity, by acceleration or otherwise and whether any such amounts are allowed or allowable in any bankruptcy or insolvency of the Company, (ii) interest on any overdue amounts
specified in the terms of the Notes and in the Indenture in respect of the Notes, and (iii) all other amounts payable by the Company under the Indenture in respect of the Notes or under the Notes including, without limitation, amounts payable
to the Trustee or the Holders under Section 6.6 and Article Five of the Base Indenture in respect of the Notes, all in accordance with the terms hereof and the terms of the Notes, subject, however, in the case of clauses (i), (ii) and
(iii) above, to the limitations set forth in this Section 2.08. In case of any extension of time of payment or renewal of any Notes or of any such other payment obligations, each Guarantor hereby agrees to pay promptly such Notes in full
when due in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. This is a guarantee of payment and not of collection. To the fullest extent permitted by applicable law, each Guarantor
hereby agrees that its obligations hereunder shall be absolutely unconditional, irrespective of any lack of validity, regularity or enforceability of the Notes or the Indenture, any failure to enforce the same, any waiver or consent to the Company
with respect thereto by any Holder or the Trustee, or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor. To the fullest extent permitted by applicable law, each Guarantor
hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever
and covenants that this Guarantee will not be discharged except by complete performance of the obligations contained in the Notes, the Indenture and in this Guarantee. If any Holder or the Trustee is required by any court or otherwise to return to
the Company, any Guarantor, or any custodian, trustee, liquidator or other similar official acting in relation to the Company or any Guarantor, any amount paid by the Company or any Guarantor to the Trustee or such Holder, this Guarantee, to the
extent theretofore discharged, shall be reinstated in full force and effect to the fullest extent permitted by applicable law. To the fullest extent permitted by applicable law, each Guarantor further agrees that, as between each Guarantor, on the
one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be 

  
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accelerated as provided in Article Five of the Base Indenture in respect of the Notes for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any acceleration of such obligations as provided in Article Five of the Base Indenture in respect of the Notes, such obligations (whether or not due and
payable) shall forthwith become due and payable by each Guarantor for the purpose of this Guarantee. 
 (b) Severability.
In case any provision of this Guarantee shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

(c) Limitation of Guarantor’s Liability. Each Guarantor, and by its acceptance hereof each Holder of the Notes, hereby
confirms that it is the intention of all such parties that the guarantee by such Guarantor pursuant to its Guarantee not constitute a fraudulent transfer or conveyance for purposes of any bankruptcy law, the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act or any similar Federal or state law. To effectuate the foregoing intention, the Holders of the Notes and such Guarantor hereby irrevocably agree that the obligations of such Guarantor under the Guarantee shall be
limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Guarantor in respect of the
obligations of such other Guarantor under its Guarantee, result in the obligations of such Guarantor under the Guarantee not constituting such fraudulent transfer or conveyance. 

(d) Release of Guarantor. The Guarantee will, so long as no Event of Default shall have occurred and be continuing, be
automatically and unconditionally released without any action on the part of the Trustee or the Holders of the Notes: (i) with respect to a Guarantor which no longer borrows or guarantees any amounts under (A) the Credit Agreement or
(B) any credit agreement that replaces or refinances the Credit Agreement and under which the Company may borrow not less than $50.0 million; (ii) unless the Guarantor is the surviving entity, (A) upon any sale, lease or exchange of
all or substantially all of the Guarantor’s assets to any Person not an affiliate of Company or (B) upon any sale, exchange or transfer, to any Person not an affiliate of the Company, of all of the Company’s direct and indirect
interest in such Guarantor; (iii) upon the payment in full of the Notes; or (iv) discharge of the Notes pursuant to Section 10.1 of the Base Indenture. The Trustee shall deliver an appropriate instrument evidencing such release upon
receipt of a request by the Company accompanied by an Officers’ Certificate and Opinion of Counsel certifying as to the compliance with this Section 2.08(d). 

  
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 (e) Waiver of Subrogation. To the fullest extent permitted by applicable law, until
all the Notes and all other payment obligations of the Company hereunder or under any Notes are paid in full, each Guarantor hereby irrevocably waives any claims or other rights which it may now or hereafter acquire against the Company that arise
from the existence, payment, or enforcement of such Guarantor’s obligations under the Guarantee and the Indenture, including, without limitation, any right of subrogation, reimbursement, exoneration, indemnification, and any right to
participate in any claim or remedy of any Holder of the Notes against the Company, whether or not such claim, remedy or right arises in equity, or under contract, statute or common law, including, without limitation, the right to take or receive
from the Company, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim or other rights. If any amount shall be paid to any Guarantor in violation of the preceding
sentence and the Notes shall not have been paid in full, such amount shall have been deemed to have been paid to such Guarantor for the benefit of, and held in trust for the benefit of, the Holders of the Notes, and shall, forthwith be paid to the
Trustee for the benefit of such Holders to be credited and applied upon the Notes, whether matured or unmatured, in accordance with the terms of the Indenture. Each Guarantor acknowledges that it will receive direct and indirect benefits from the
financing arrangements contemplated by the Indenture and that the waiver set forth in this Section 2.08(e) is knowingly made in contemplation of such benefits. 
 (f) Waiver of Stay, Extension or Usury Laws. Each Guarantor covenants (to the extent that it may lawfully do so) that it shall 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 which would prohibit or forgive the Guarantor from performing its Guarantee as contemplated herein, wherever enacted, now or at any time hereafter in force,
or which may affect the covenants or the performance of the Indenture; and (to the extent that it may lawfully do so) each Guarantor hereby expressly waives all benefit or advantage of any such law and covenants that it shall not hinder, delay or
impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 
 (g) Guarantor Consolidation, Merger, Conveyance, Transfer or Lease. A Guarantor may not directly or indirectly sell, lease or exchange all or substantially all of its assets to, or consolidate with
or merge with or into (whether or not such Guarantor is the surviving person), another Person, other than the Company or another Guarantor, unless immediately after giving effect to that transaction, no default or Event of Default exists and the
person acquiring the property in any such sale or disposition or the person formed by or surviving any such consolidation or merger assumes all the obligations of that Guarantor 

  
 18 

 
hereunder and under the Indenture pursuant to a supplemental indenture satisfactory to the Trustee or by operation of law. 

(h) Additional Guarantors. If, after the Issue Date, (a) any Subsidiary of the Company shall become a guarantor under
(1) the Credit Agreement or (2) any credit agreement that replaces or refinances the Credit Agreement and under which the Company may borrow not less than $50.0 million, or (b) if LeTourneau Technologies Drilling Systems, Inc.
(“LDS”) is a guarantor of the Credit Agreement on or after February 29, 2012, then the Company shall promptly cause any such Subsidiary or LDS, as the case may be, to become a Guarantor (each such additional Guarantor, an
“Additional Guarantor”) by causing such Additional Guarantor to execute and deliver a supplemental indenture to the Trustee in accordance with the provisions of Article 8 of the Base Indenture, which such supplemental indenture
shall evidence the Guarantee of such Additional Guarantor under the Indenture in respect of the Notes. Notwithstanding anything to the contrary in the Indenture, in no event shall any of LeTourneau Technologies America, Inc., LeTourneau Technologies
Brazil, Inc., LeTourneau Technologies International, Inc. and LeTourneau Technologies South America, Inc. be required to become a Guarantor under the Indenture in respect of the Notes. Any supplemental indenture entered into and delivered pursuant
to this Section 2.08(h) shall provide such Additional Guarantor’s address for notice pursuant to Section 11.4 of the Base Indenture. 
 Section 2.09. Redemption. 
 (a) Optional Redemption. The Company
may, at its option, redeem some or all of the Notes at any time and from time to time at a redemption price equal to the greater of the following amounts, plus, in each case, accrued and unpaid interest on the principal amount being redeemed to, but
excluding, the applicable redemption date: 
 (i) 100% of the principal amount of the Notes to be redeemed; and

 (ii) the sum of the present values of the principal amount and the remaining scheduled payments of interest
on the Notes to be redeemed (not including any portion of payments of interest accrued as of the applicable redemption date), discounted to the applicable Redemption Date on a semi-annual basis at a rate equal to the sum of the Treasury Rate plus
0.50%. 
 The redemption price of Notes to be redeemed under this Section 2.09(a) will be calculated assuming a 360-day year consisting of
twelve 30-day months. Notice of any redemption of Notes will be mailed by the Company, at least 30 days but not more than 60 days before the applicable redemption date, to each holder of the 

  
 19 

 
Notes to be redeemed as provided in Section 11.6 of the Base Indenture. If the Company redeems less than all of the Notes, and the Notes are Global Notes, the Notes to be redeemed will be
selected by the Depositary in accordance with its procedures. If the Notes to be redeemed are not Global Notes, the Trustee will select the particular Notes to be redeemed by lot, on a pro rata basis or by another method the Trustee deems fair and
appropriate and as otherwise provided in the Indenture. 
 Unless the Company defaults in the payment of the redemption price,
on and after the applicable redemption date, interest will cease to accrue on the Notes or portions of the Notes called for redemption. 
 (b) Special Acquisition Redemption. In the event that (i) the Company does not consummate the 41.1% Acquisition by the Acquisition Deadline Date or (ii) the IMM Purchase Agreement is
terminated at any time prior to the Acquisition Deadline Date (in either case, a “Special Acquisition Redemption Trigger”), then the Company shall have the option to redeem the Notes, in whole but not in part, on the Special
Acquisition Redemption Date at a redemption price equal to 101% of the aggregate principal amount of the Notes, plus accrued and unpaid interest from the interest payment date immediately preceding the Special Acquisition Redemption Date (or, if no
such interest payment date has passed, the Issue Date) to, but excluding, the Special Acquisition Redemption Date (subject to the right of Holders on the relevant record date to receive interest due on the relevant interest payment date).

 If the Company elects to redeem the Notes pursuant to this Section 2.09(b), the Company will cause notice of such
redemption to be mailed, with a copy to the Trustee, to each Holder at its registered address within five Business Days after the applicable Special Acquisition Redemption Trigger. If funds sufficient to pay the special acquisition redemption price
of all Notes to be redeemed on the Special Acquisition Redemption Date are deposited with the Trustee on or before such Special Acquisition Redemption Date, plus accrued and unpaid interest, if any, to the Special Acquisition Redemption Date, the
Notes will cease to bear interest and all rights under the Notes shall terminate (other than in respect of the right of Holders to receive the special acquisition redemption price, plus accrued and unpaid interest). 

Section 2.10. Change of Control. 
 (a) Upon the occurrence of a Change of Control Triggering Event, unless the Company has exercised its redemption rights under Section 2.09, each Holder of the Notes shall have the right to require
the Company to make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of each Holder’s outstanding Notes at a purchase
price equal to 101% of the aggregate 

  
 20 

 
principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control
Triggering Event, or, at the Company’s option, prior to any Change of Control, but after the public announcement of the Change of Control, the Company shall mail a notice to each Holder, with a copy to the Trustee, describing the transaction or
transactions that constitute the Change of Control Triggering Event and stating: (1) that the Change of Control Offer is being made pursuant to this Section 2.10 and that all Notes properly tendered will be accepted for payment;
(2) the purchase price and the purchase date, which shall be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”); (3) if mailed prior to the date of
the consummation of the Change of Control, that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the payment specified in the notice; (4) that any Security not tendered will continue to
accrue interest; (5) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Payment
Date; (6) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Notes
completed, to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date; (7) that Holders will be entitled to withdraw their election if the
Paying Agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of
Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased; and (8) that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof. The Company shall comply with the requirements of Rule 14e–1 under the
Securities Exchange Act of 1934 and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of Notes in connection with a Change of Control Triggering Event. To
the extent that the provisions of any securities laws or regulations conflict with this Section 2.10, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this
Section 2.10 by virtue of such conflict. In the event that the Notes cease to be rated with an Investment Grade Rating by each of the Rating Agencies on any date during the Trigger Period, the Company shall request in writing from each Rating
Agency (with a copy to the Trustee) the reason for such reduction and whether such reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of
Control. 

  
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 (b) On the Change of Control Payment Date, the Company shall, to the extent lawful,
(1) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer, (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof
properly tendered and (3) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the
Company. The Paying Agent shall promptly deliver to each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Company shall promptly execute, and the Trustee shall promptly authenticate and deliver (or cause to be
transferred by book entry) to each Holder, a new Note equal in principal amount to any unpurchased portion of the Note surrendered by such Holder, if any; provided, that each such new Note shall be in a principal amount of $2,000 or an
integral multiple of $1,000 in excess thereof. The Company shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 

The Company will not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a third
Person makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 2.10 and all other provisions of the Indenture applicable to a Change of Control Offer made by the
Company and purchases all Notes properly tendered and not withdrawn under such Change of Control Offer. 
 Section 2.11.
Sinking Fund. The Notes shall not have the benefit of a sinking fund. 
 Section 2.12. Methods of Receiving Payments on
the Notes. If a Holder has given wire transfer instructions to the Company at least ten Business Days prior to the applicable payment date, the Company will make all payments on such Holder’s Notes in accordance with those instructions.
Otherwise, payments on the Notes will be made at the office or agency of the Paying Agent and Registrar for the Notes; provided, however, that the Company may, at its option, elect to make interest payments by check mailed to the
Holders at their addresses set forth in the register of Holders; provided, further, that with respect to Notes represented by Global Notes, the Company shall make payments of principal and interest by wire transfer of immediately
available funds to the account specified by the Depositary. 
 Section 2.13. Consolidation, Merger,
Conveyance, Transfer or Lease. The Company may not consolidate or merge with or into another Person, or directly or indirectly sell, lease or exchange all or substantially all of the assets of the Company to another Person, unless:

  
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 (a) the Company is the surviving entity or, if not, the successor entity formed by such
consolidation or into which the Company is merged or which acquires or leases all or substantially all of the Company’s assets is organized and existing under the laws of any U.S. jurisdiction and expressly assumes the Company’s
obligations with respect to the Notes and under the Indenture; 
 (b) no default or Event of Default exists or will occur
immediately after giving effect to the transaction; and 
 (c) the Company has delivered to the Trustee the Officers’
Certificates and Opinions of Counsel required under the Indenture. 
 Section 2.14. Limitation on Liens. 

(a) The Company shall not, and shall not permit any Consolidated Subsidiary to, incur any Debt secured by a Lien on any Principal
Property or any shares of capital stock of any Consolidated Subsidiary (in each case, whether now owned or hereafter acquired) without making effective provision that the Notes shall be secured equally and ratably with (or prior to) such secured
Debt, unless, after giving effect to incurrence of such Debt and any simultaneous permanent repayment of any secured Debt, the aggregate amount of all Debt secured by a Lien on any Principal Property or on any shares of capital stock of any
Consolidated Subsidiary, together with all Attributable Debt of the Company and its Consolidated Subsidiaries in respect of Sale and Lease-Back Transactions involving Principal Properties, would not exceed 10% of the Consolidated Total Assets of the
Company and the Consolidated Subsidiaries. The aggregate amount of all secured Debt referred to in the preceding sentence shall exclude any then existing secured Debt that has been secured equally and ratably with the Notes. 

(b) The restriction set forth in Section 2.14(a) shall not apply to, and there shall be excluded from all Debt so secured in any
computation under the restriction in Section 2.14(a) or under the restriction in Section 2.15, Debt secured by: 
 (i) Liens on any property or shares of capital stock existing at the time of acquisition thereof; provided that (A) any such Lien was (1) in existence prior to the date of such
acquisition, (2) was not incurred in anticipation thereof and (3) does not extend to any other property, and (B) the principal amount of Debt secured by each such Lien does not exceed the cost to the Company or such Consolidated
Subsidiary of the property subject to the Lien, as determined in accordance with generally accepted accounting principles; 
 (ii) Liens in favor of the Company or a Consolidated Subsidiary; 

  
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 (iii) Liens in favor of governmental bodies to secure progress or advance
payments pursuant to any contract or provision of any statute; 
 (iv) Liens created or incurred in connection
with an industrial revenue bond, industrial development bond, pollution control bond or similar financing arrangement between the Company or a Consolidated Subsidiary and any federal, state or municipal government or other governmental body or
quasi-governmental agency; 
 (v) Liens on property or shares of capital stock to secure all or part of the cost
of acquiring (including, without limitation, acquisitions through merger or consolidation), substantially repairing or altering, constructing, developing or substantially improving the property, or to secure Debt incurred for any such purpose;
provided that any such Lien relates solely to the property subject to the Lien and that the principal amount of Debt secured by each such Lien was incurred concurrently with, or within 18 months of, such acquisition (including, without
limitation, acquisitions through merger or consolidation), repair, alteration, construction (or the commencement of commercial operation of such property, whichever is later), development or improvement and does not exceed the cost to the Company or
such Consolidated Subsidiary of the property subject to the Lien, as determined in accordance with generally accepted accounting principles; 
 (vi) Liens on property or shares of capital stock of any corporation existing at the time such corporation becomes a Subsidiary; 

(vii) Liens in favor of a governmental agency to qualify the Company or any Consolidated Subsidiary to do business,
maintain self insurance or obtain other benefits, or Liens under workers’ compensation laws, unemployment insurance laws or similar legislation; 
 (viii) Liens imposed by law, such as laborers’ or other employees’, carriers’, warehousemen’s, mechanics’, materialmen’s and vendors’ Liens; 

(ix) Liens arising out of judgments or awards against the Company or any Consolidated Subsidiary with respect to which
the Company or such Consolidated Subsidiary at the time shall be prosecuting an appeal or proceedings for review; 
 (x) Liens for taxes, assessments, governmental charges or levies not yet subject to penalties for nonpayment or the amount or validity of which is being in good faith contested by appropriate proceedings
by the Company or any Consolidated Subsidiary, as the case may be; and 

  
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 (xi) any refinancing, refunding, extension, renewal or replacement, in whole
or in part, of any Lien referred to above; provided that such refinancing, refunding, extension, renewal or replacement Lien will be limited to the same property that secured the Lien so refinanced, refunded, extended, renewed or replaced and
will not exceed the principal amount of Debt so secured at the time of such refinancing, refunding, extension, renewal or replacement and that such principal amount of Debt so secured shall continue to be included in the computation in the first
paragraph of this covenant and under Section 2.15 to the extent so included at the time of such refinancing, refunding, extension, renewal or replacement. 
 For purposes of this Section 2.14, an “acquisition” of property (including real, personal or intangible property or shares of capital stock or Debt) shall include any transaction or series
of transactions by which the Company or a Consolidated Subsidiary acquires, directly or indirectly, an interest, or an additional interest (to the extent thereof), in such property, including an acquisition through merger or consolidation with, or
an acquisition of an interest in, a Person owning an interest in such property. 
 Section 2.15. Limitation on Sale and
Lease-Back Transactions. 
 (a) The Company shall not, and shall not permit any of its Consolidated Subsidiaries to, enter
into any Sale and Lease-Back Transaction with respect to any Principal Property unless: 
 (i) after giving
effect thereto, the aggregate amount of all Attributable Debt of the Company and its Consolidated Subsidiaries with respect to Sale and Lease-Back Transactions involving Principal Properties plus the aggregate amount of Debt secured by Liens on any
Principal Property or on any shares of capital stock of any Consolidated Subsidiary incurred without equally and ratably securing the Securities pursuant to Section 2.14 would not exceed 10% of the Consolidated Total Assets of the Company and
the Consolidated Subsidiaries; or 
 (ii) within 360 days of such Sale and Lease-Back Transaction involving a
Principal Property, the Company or such Consolidated Subsidiary applies to (A) the prepayment or retirement, and in either case, the permanent reduction, of Funded Debt of the Company or any Consolidated Subsidiary (including that in the case
of a revolver or similar arrangement that makes credit available, such commitment is so permanently reduced by such amount); or (B) the purchase of other property that will constitute Principal Property, an amount not less than the greater of:

  
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 (1) the Net Proceeds of the Sale and Lease-Back Transaction; and 

(2) the fair market value of the Principal Property so leased at the time of such transaction. 

(b) The restriction set forth in Section 2.15(a) shall not apply to any Sale and Lease-Back Transaction, and there shall be excluded
from Attributable Debt in any computation described in this Section 2.15 or in Section 2.14 with respect to any such transaction: 
 (i) pursuant to which the Company or a Consolidated Subsidiary would be permitted to create Funded Debt secured by a Lien pursuant to the exceptions listed in Section 2.14(b) on the Principal
Property to be leased, in an amount equal to the Attributable Debt with respect to such Sale and Leaseback Transaction, without equally and ratably securing the notes; 

(ii) solely between the Company and a Consolidated Subsidiary or solely between Consolidated Subsidiaries; 

(iii) financed through an industrial revenue bond, industrial development bond, pollution control bond or similar
financing arrangement between the Company or a Consolidated Subsidiary and any federal, state or municipal government or other governmental body or quasi-governmental agency; 

(iv) in which the applicable lease is for a period, including renewal rights, of three years or less; 

(v) as to which the effective date of any such arrangement or the purchaser’s commitment therefore is within 270
days prior or subsequent to the acquisition of the Principal Property (including, without limitation, acquisition by merger or consolidation) or the completion of construction and commencement of operation thereof, whichever is later; or 

(vi) in which the lease payment is created in connection with a project financed with, and such obligation constitutes, a
Nonrecourse Obligation. 
 Section 2.16. Additional Events of Default. 

Pursuant to Section 5.1(f) of the Base Indenture the following is an additional Event of Default: 

  
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 a default by the Company or any Significant Subsidiary under any mortgage, indenture or
instrument under which there may be issued or by which there may be secured or evidenced any indebtedness for money borrowed of at least $10.0 million aggregate principal amount by the Company or any of its Significant Subsidiaries (or the payment
of which is guaranteed by the Company or any of its Significant Subsidiaries), other than indebtedness owed to the Company or a Significant Subsidiary, whether such indebtedness or guarantee now exists, or is created after the date of the indenture,
which default: 
 (a) is caused by a failure to pay principal of, or interest or premium, if any, on such
indebtedness prior to the expiration of any grace period provided in such indebtedness; or 
 (b) results in the
acceleration of such indebtedness prior to its maturity. 
 Section 2.17. Modification and Waiver. In addition to those
matters set forth in the Indenture, the following modifications or amendments to the Indenture may not be made without the consent of each of the Holders of the Notes so affected: 

(a) reduce the amount of principal payable upon acceleration of the maturity of the Notes; 

(b) change the place or currency of payment of principal, or premium, if any, or interest on the Notes; 

(c) reduce the percentage in aggregate principal amount of outstanding Notes, the consent of the Holders of which is required for any
waiver provided for in the Indenture; 
 (d) modify any of the waiver provisions, except to increase any required percentage or
to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of the Holder of each outstanding Note affected thereby; 
 (e) cause any Note to become subordinate in right of payment to any other Debt, except to the extent provided in the terms of such Note; or 

(f) impair the right of any Holder of the Notes to require repurchase of the Notes on the terms provided in the Indenture. 

Section 2.18. Defeasance. The Company may elect to have subsection (a) below, at the Company’s option and at any time,
or subsection (b) below, at the 

  
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Company’s option and at any time, of this Supplemental Indenture applied to all Outstanding Notes upon compliance with the conditions set forth below in this Section 2.18. 

(a) Upon the Company’s exercise of its option under this Section 2.18(a) with respect to the Outstanding Notes, the Company
shall be deemed to have been discharged from its obligations with respect to all Outstanding Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, such Legal Defeasance
means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Notes, and the Indenture shall cease to be of further effect as to all the Outstanding Notes, except as to be deemed to be
Outstanding only for the purposes of the Sections of the Indenture referred to in (i), (ii), (iii) and (iv) below, and the Company shall be deemed to have satisfied all other of its obligations under the Outstanding Notes and the Indenture
(and the Trustee, on written demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or discharged hereunder: (i) Holders
will be entitled to receive timely payments for the principal of, premium, if any, and interest on, the Notes from the funds deposited for that purpose; (ii) the Company’s obligations will continue with respect to the issuance of temporary
Notes, the registration of Notes, and the replacement of mutilated, destroyed, lost or stolen Notes; (iii) the Trustee will retain its rights, powers, duties, and immunities, and the Company will retain its obligations in connection therewith;
and (iv) other Legal Defeasance provisions of the Indenture will remain in effect. Subject to compliance with this Section 2.18, the Company may exercise its option under this Section 2.18 notwithstanding the prior exercise of its
option under Section 2.18(b) hereof with respect to the Notes. 
 (b) Upon the Company’s exercise of its option under
this Section 2.18(b), the Company shall be released from its obligations under Sections 2.10, 2.14 and 2.15 hereunder with respect to all Outstanding Notes, on and after the date the conditions set forth below are satisfied (hereinafter,
“Covenant Defeasance”), and the Outstanding Notes shall thereafter be deemed not Outstanding for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) of the Notes in
connection with such covenants, but shall continue to be deemed Outstanding for all other purposes hereunder and under the Indenture. For this purpose, such Covenant Defeasance means that, with respect to the Outstanding Notes , the Company shall
not need to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant with respect to such Notes, 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 an Event of Default under Section 5.1 of the Base Indenture or

  
 28 

 
hereunder with respect to such Notes, but, except as specified above, the remainder of the Indenture and the Notes shall be unaffected thereby. 

(c) The following shall be the conditions to the application of either Section 2.18(a) or 2.18(b) hereof to any Notes to be
defeased: 
 (i) (A) The Company shall irrevocably deposit with the Trustee, in trust, for the benefit of the
Holders of the Notes as to which Legal Defeasance or Covenant Defeasance will occur, U.S. legal tender, U.S. Government Obligations, a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of
independent public accountants, expressed in a written certification thereof to the Trustee, to pay the principal of, premium, if any, and interest on such Notes on the stated date for payment thereof or on the redemption date of such principal or
installment of principal of, premium, if any, or interest on such Notes, and the Holders of such Notes must have a valid, perfected, exclusive security interest in such trust; (B) in the case of Legal Defeasance, the Company shall have
delivered to the Trustee an Opinion of Counsel in the United States reasonably acceptable to the Trustee confirming that: (1) the Company has received from, or there has been published by the Internal Revenue Service, a ruling or (2) since
the date of the Indenture, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of such Notes will not recognize income, gain
or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to 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; (C) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel in the United States reasonably acceptable to such Trustee confirming that the Holders of such Notes will not recognize
income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to 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; (D) no Event of Default with respect to such Notes shall have occurred and be continuing on the date of such deposit or insofar as Events of Default from bankruptcy or insolvency events are concerned, at any time in
the period ending on the 91st day after the date of deposit; (E) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under the Indenture or any other material agreement or
instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; (F) the Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was
not made by the Company with the 

  
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intent of hindering, delaying or defrauding any other creditors of the Company; and (G) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that the conditions precedent provided for in, in the case of the Officers’ Certificate, (A) through (F) and, in the case of the Opinion of Counsel, clauses (A) (with respect to the validity and perfection
of the security interest), (B), (C) and (E) of this paragraph have been complied with and the Company shall have delivered to the Trustee an Opinion of Counsel (which may contain customary qualifications and exceptions, including, without
limitation, an assumption that there has been no intervening bankruptcy of the Company between the date of deposit and the 91st day following the deposit and an assumption that no Holder of such Notes is an “insider” of the Company
under applicable Federal bankruptcy law), after the 91st day following the deposit, the trust funds will not be subject to the effect of any applicable Federal bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights
generally and the creation of the defeasance trust does not violate the Investment Company Act of 1940. The defeasance will be effective on the earlier of (i) the 91st day after the date of deposit, and (ii) the day on which all the
conditions above have been satisfied. 
 (ii) If the funds deposited with the Trustee to effect Covenant
Defeasance are insufficient to pay the principal of, premium, if any, and interest on the Notes to be so defeased when due, then the obligations of the Company under the Indenture with respect to the Notes will be revived and no such defeasance will
be deemed to have occurred. 
 (d) Subject to Section 2.18(e), all cash and U.S. Government Obligations (including the
proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 2.18(d)), the Paying Agent pursuant to Section 2.18(c) in respect of any Notes to be defeased shall be held in trust and
applied by the Paying Agent, in accordance with the provisions of such Notes and the Indenture, to the payment, either directly or through any other Paying Agent as the Trustee may determine, to the Holders of such Notes of all sums due and to
become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. The Company shall pay and indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 2.18(c) 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 such Notes. 
 (e) Anything in this Section 2.18 to the contrary notwithstanding, the Trustee or the
Paying Agent shall deliver or pay to the Company from time to time upon the request of the Company any cash or U.S. Government Obligations 

  
 30 

 
held by it as provided in Section 2.18(c) which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee (which may be an opinion delivered under Section 2.18(c)(i) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

(f) If the Trustee or Paying Agent is unable to apply any cash or U.S. Government Obligations in accordance with Section 2.18(a) or
(b), as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under the Indenture with respect to such Notes
affected and such Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 2.18(a) or (b) until such time as the Trustee or Paying Agent is permitted to apply such money in accordance with
Section 2.18(a) and (b) hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on any such Note following the reinstatement of its obligations, the
Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the cash or U.S. Government Obligations held by the Trustee or Paying Agent. 

Section 2.19. Original Issue Discount. Section 3.7 of the Base Indenture shall not apply to the Notes. 

ARTICLE 3 

MISCELLANEOUS PROVISIONS 
 Section 3.01. Recitals By Company and Guarantors. The recitals in this Supplemental Indenture are made by the Company and the Guarantors only and not by the Trustee, and all of the provisions
contained in the Base Indenture in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of the Notes, the Guarantees and of this Supplemental Indenture as fully and with like effect as if set
forth herein in full. 
 Section 3.02. Application to Notes Only. Each and every term and condition contained in this
Supplemental Indenture that modifies, amends or supplements the terms and conditions of the Base Indenture shall apply only to the Notes and Guarantees established hereby and not to any future Series of Securities established under the Base
Indenture. 
 Section 3.03. Benefits. Nothing contained in the Indenture shall or shall be construed to confer upon any
person other than a Holder of the Notes, the Company and the Trustee any right or interest to avail itself of any benefit under any provision of the Indenture, the Notes or the Guarantees. 

  
 31 

 Section 3.04. Effective Date. This Supplemental Indenture shall be effective as of
the date first above written upon the execution and delivery hereof by each of the parties hereto. 
 Section 3.05.
Ratification. As supplemented hereby, the Base Indenture is in all respects ratified and confirmed and all the terms, provisions and conditions thereof remain in full force and effect. 

Section 3.06. Counterparts. This Supplemental Indenture may be executed in multiple counterparts, each of which shall be deemed to
be an original, and such counterparts shall together constitute but one and the same instrument. 
 Section 3.07. Governing
Law. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY. 
 [Signatures on Next Page] 

  
 32 

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

			
	 JOY GLOBAL INC.,
 a
Delaware corporation

		
	By:	 	/s/    Michael S. Olsen        
	Name:	 	Michael S. Olsen
	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer

  

			
	 JOY TECHNOLOGIES INC.,
 a Delaware corporation

		
	By:	 	/s/    Michael S. Olsen        
	Name:	 	Michael S. Olsen
	Title:	 	Vice President

  

			
	 P&H MINING EQUIPMENT INC.,
 a Delaware corporation

		
	By:	 	/s/    Michael S. Olsen        
	Name:	 	Michael S. Olsen
	Title:	 	Vice President

  

			
	 N.E.S. INVESTMENT CO.,
 a Delaware corporation

		
	By:	 	/s/    Michael S. Olsen        
	Name:	 	Michael S. Olsen
	Title:	 	Vice President

 [4th Supplemental Indenture] 

 
			
	CONTINENTAL CRUSHING & CONVEYING INC., a Delaware corporation
		
	By:	 	/s/    Michael S. Olsen        
	Name:	 	Michael S. Olsen
	Title:	 	Vice President

  

			
	 LETOURNEAU TECHNOLOGIES, INC.,
 a Texas corporation

		
	By:	 	/s/    Michael S. Olsen        
	Name:	 	Michael S. Olsen
	Title:	 	Vice President

  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 a national banking association, as Trustee

		
	By:	 	/s/    Gregory S. Clarke         
	Name:	 	Gregory S. Clarke
	Title:	 	Vice President

 [4th Supplemental Indenture] 
  

 EXHIBIT A 
 FORM OF NOTE 
 [Global Note Legend] 

THIS SECURITY IS A SECURITY IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED OR TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY,
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 JOY GLOBAL INC.

 5.125% SENIOR NOTE DUE 2021 
 Principal Amount $_______________ 
 CUSIP ____________ 

ISIN ___________ 
 No. __ 

JOY GLOBAL INC., a corporation duly organized and existing under the laws of the State of Delaware (the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assignees, the principal sum of
______________ Dollars ($__________)], as may be revised from time to time by the Schedule of Increases and Decreases attached hereto,]1 

 

	1 	Include if Note is a Global Note. 

  
 A-1

 
on October 15, 2021, and to pay interest thereon from October 12, 2011, or from the most recent interest payment date to which interest has been paid or duly provided for, semi-annually
on April 15 and October 15 of each year, commencing April 15, 2012, at the rate of 5.125% per annum, until the principal hereof becomes due and payable, and at such rate on any overdue principal and (to the extent that the
payment of such interest shall be legally enforceable) on any overdue installment of interest. The interest so payable, and punctually paid or duly provided for, on any interest payment date will, as provided in the Indenture, be paid to the Person
in whose name this 5.125% Senior Note Due 2021 (this “Note,” and all of the Notes collectively referred to herein as the “Notes”) (or one or more predecessor debt securities) is registered at the close
of business on the regular record date for such interest, which shall be the April 1 or October 1 (whether or not a Business Day), as the case may be, next preceding such interest payment date. Any such interest not punctually paid or duly
provided for on any interest payment date shall forthwith cease to be payable to the registered Holder on such regular record date by virtue of his having been such Holder, and may either be paid to the Person in whose name this Note (or one or more
predecessor debt securities) is registered at the close of business on a special record date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not more than 15 days and not less
than 10 days prior to such special record date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of them. 
 Payments of interest will be made by wire transfer of immediately available funds. Principal and any premium and interest payable at maturity will be paid in immediately available funds upon surrender of
such Note at the office of a Paying Agent or at such other office or agency as the Company may designate; provided, however, that the Company may, at its option, elect to make interest payments by check mailed to the Holders at their
addresses set forth in the register of Holders; provided, further, that with respect to Notes represented by Global Notes, the Company shall make payments of principal and interest by wire transfer of immediately available funds to the
account specified by the Depositary. 
 Unless the certificate of authentication herein has been duly executed by the Trustee
referred to herein by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 This Note is one of a duly authorized issue of securities of the Company (the “Securities” and each, a “Security”) issued under an indenture dated as of November 10,
2006 (the “Base Indenture”), between the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee,” which term includes 

  
 A-2

 
any successor Trustee under the Indenture) as amended, modified and supplemented by a supplemental indenture dated as of October 12, 2011 (the “Supplemental Indenture” and
the Base Indenture, as amended, modified and supplemented by the Supplemental Indenture, the “Indenture”), among the Company, the Guarantors named therein and the Trustee, to which Indenture reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantors, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is
one of the series designated on the face hereof limited in aggregate principal amount to $500,000,000, except that the Company may, without the consent of the Holders, “reopen” the series and issue additional Notes that have the
same ranking, interest rate, maturity date and other terms as this Note, other than with respect to the date of issuance, the issue price and, in some cases, the first interest payment date. 

The payment by the Company of the principal of, and premium, if any, and interest on, the Notes is fully and unconditionally guaranteed
on a joint and several basis by each Guarantor to the extent set forth in the Indenture. 
 The Company may, at its option,
redeem some or all of the Notes at any time and from time to time at a redemption price equal to the greater of the following amounts, plus, in each case, accrued and unpaid interest on the principal amount being redeemed to, but excluding, the
applicable redemption date: (i) 100% of the principal amount of the Notes to be redeemed; and (ii) the sum of the present values of the principal amount and the remaining scheduled payments of interest on the Notes to be redeemed (not
including any portion of payments of interest accrued as of the applicable redemption date), discounted to the applicable Redemption Date on a semi-annual basis at a rate equal to the sum of the Treasury Rate plus 0.50%. The redemption prices of
Notes to be redeemed will be calculated assuming a 360-day year consisting of twelve 30-day months. If the Company redeems less than all of the Notes, and the Notes are Global Notes, the Notes to be redeemed will be selected by DTC in accordance
with DTC’s procedures. If the Notes to be redeemed are not Global Notes, the Trustee will select the particular Notes to be redeemed by lot, on a pro rata basis or by another method the Trustee deems fair and appropriate and as otherwise
provided in the Indenture. 
 Holders of Notes to be redeemed will receive notice thereof at least 30 and not more than 60 days
prior to the applicable redemption date. 
 For the purposes of determining the redemption price, “Treasury Rate”
means, with respect to any redemption date, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated on the third Business Day preceding the redemption date, assuming a price for the

  
 A-3

 
Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date. “Comparable Treasury Issue” means the U.S.
Treasury security or securities selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes to be redeemed that would be used, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Notes. “Independent Investment Banker” means one of the Reference Treasury Dealers selected by the Company.
“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations for that redemption date, after excluding the highest and lowest of the Reference Treasury Dealer
Quotations; or (2) if the Independent Investment Banker obtains fewer than three Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received. “Reference Treasury Dealer” means each of
Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and one other nationally recognized investment banking firm that is a Primary Treasury Dealer to be selected by the Company, and
their respective successors (a “Primary Treasury Dealer”), unless any of them ceases to be a primary U.S. Government securities dealer in the United States, in which case the Company will substitute another nationally recognized
investment banking firm that is a Primary Treasury Dealer. “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment
Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at 3:30 p.m., New York City time, on
the third Business Day preceding such redemption date. 
 In the event that (i) the Company does not consummate the 41.1%
Acquisition by the Acquisition Deadline Date or (ii) the IMM Purchase Agreement is terminated at any time prior to the Acquisition Deadline Date (in either case, a “Special Acquisition Redemption Trigger”), then the Company
shall have the option to redeem the Notes, in whole but not in part, on the Special Acquisition Redemption Date at a redemption price equal to 101% of the aggregate principal amount of the Notes, plus accrued and unpaid interest from the interest
payment date immediately preceding the Special Acquisition Redemption Date (or, if no such interest payment date has passed, the Issue Date) to, but excluding, the Special Acquisition Redemption Date (subject to the right of holders of record on the
relevant record date to receive interest due on the relevant interest payment date). 
 If the Company elects to redeem the
Notes as described in the immediately preceding paragraph, the Company will cause the notice of such redemption to be mailed, with a copy to the Trustee, to each Holder at its registered address within

  
 A-4

 
five Business Days after the applicable Special Acquisition Redemption Trigger. If funds sufficient to pay the special acquisition redemption price of all Notes to be redeemed on the Special
Acquisition Redemption Date are deposited with the Trustee on or before such Special Acquisition Redemption Date, plus accrued and unpaid interest, if any, to the Special Acquisition Redemption Date, the Notes will cease to bear interest and all
rights under the Notes shall terminate (other than in respect of the right of Holders to receive the special acquisition redemption price, plus accrued and unpaid interest). 
 Upon the occurrence of a Change of Control Triggering Event, unless the Company has exercised its redemption rights as set forth above, each Holder of the Notes will have the right to require the Company
to make an offer to each Holder to repurchase all or any part of each Holder’s Notes pursuant to a Change of Control Offer at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to
the date of purchase. Additional terms and conditions relating to Change of Control Offers are set forth in the Indenture. 

The Company shall have no obligation to redeem or purchase the Notes pursuant to any sinking fund or analogous provision. 

The Indenture contains certain covenants that, among other things, limit the ability of the Company and its Consolidated Subsidiaries to
consolidate, merge or sell, lease or exchange all or substantially all of their assets, to incur Debt secured by a Lien or to enter into Sale and Lease-Back Transactions, in each case in the manner and to the extent as set forth in the Indenture.

 If an Event of Default with respect to the Notes shall have occurred and be continuing, the principal of all the Notes may be
declared due and payable in the manner and with the effect provided in the Indenture. 
 The Company and the Trustee may enter
into an indenture or indentures supplemental to the Indenture without the consent of the Holders for limited purposes specified in the Indenture. With the consent of the Holders of greater than 50% in aggregate principal amount of the Outstanding
Securities of each series affected by such supplemental indenture, the Company and the Trustee may enter into an indenture or indentures supplemental to the Indenture for the purpose of adding any provisions to or changing the provisions of the
Indenture or any supplement thereto or of modifying in any manner the rights of the Holders of the Securities of each series under the Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each
Outstanding Security of the applicable series affected thereby: (a) extend the final maturity of any Security; (b) reduce the principal amount of any Security or any premium thereon, reduce the rate or extend the time of payment of
interest thereon, or reduce any amount payable on redemption thereof; (c) impair or affect 

  
 A-5

 
the right of any Securityholder to institute suit for payment of any Security or, if the Securities provide therefor, any right of repayment at the option of the Securityholder without the
consent of the Holder of each Security so affected; (d) reduce the amount of principal payable upon acceleration of the maturity; (e) change the place or currency of payment of principal, or premium, if any, or interest; (f) reduce
the percentage in aggregate principal amount of such series of Outstanding Securities, the consent of the Holders of which is required for any amendment or waiver provided for in the Indenture; (g) modify any of the waiver provisions, except to
increase any required percentage or to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of the holder of each Outstanding Note of the series affected thereby; (h) cause any such Note to
become subordinate in right of payment to any other Debt, except to the extent provided in the terms of such Note; or (i) impair such Holder’s right to require repurchase or conversion of the Notes on the terms provided therein.

 The Holders of greater than 50% in aggregate principal amount of the Outstanding Notes may on behalf of the Holders of all
the Notes waive any past default or Event of Default under the Indenture in respect of the Notes and its consequences except a default in the payment of principal of or interest on the Notes. 

Holders of Notes may not enforce their rights pursuant to the Indenture or the Notes except as provided in the Indenture. No reference
herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times,
place and rate, and in the coin or currency, herein prescribed. 
 The Notes are issuable in registered form without coupons in
minimum denominations of U.S.$2,000 and any integral multiple of U.S.$1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes
that are of other authorized denominations. 
 Notes to be exchanged shall be surrendered at any office or agency maintained by
the Company for such purpose, and the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor the Notes which the Holder making the exchange shall be entitled to receive. Upon due presentment for registration of
transfer of any Note at any such office or agency, the Company shall execute and register and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Note for an equal aggregate amount. Registration or
registration of transfer of any Note by the Registrar (initially Wells Fargo Bank, National Association) in the registry books 

  
 A-6

 
maintained by such Registrar, and delivery of such Note, duly authenticated, shall be deemed to complete the registration or registration of transfer of such Note. 

No service charge shall be made for any exchange or registration of transfer, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. Prior to due presentment of a Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the person in whose name a
Note is registered as the owner for all purposes whether or not such Note be overdue and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

[This Note is in the form of a Global Note as provided in the Indenture. If at any time the Depositary notifies the Company that it is
unwilling or unable to continue as Depositary for this Note or if at any time the Depositary for this Note shall no longer be eligible or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or
regulation, the Company shall appoint a successor Depositary with respect to this Note. If a successor Depositary for this Note is not appointed by the Company within 90 days after the Company receives notice or becomes aware of such ineligibility,
the Company will issue Notes in definitive form in exchange for this Global Note representing Notes in an aggregate principal amount equal to the principal amount of this Global Note.]2 
 No recourse under or upon any obligation, covenant or agreement contained in the Indenture, in any Note, or because of any indebtedness evidenced thereby, shall be had against any incorporator, as such or
against any past, present or future stockholder, officer or director, as such, of the Company or of any successor, either directly or through the Company or any successor, under any rule of law, statute or constitutional provision or by the
enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of the Notes by the Holders thereof and as part of the consideration for the issue of the
Notes. 
 The Notes are subject to defeasance at the option of the Company as provided in the Indenture. 

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

 

	2 	Include if the Note is a Global Note. 

  
 A-7

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

Dated: October 12, 2011 
  

			
	Joy Global Inc.
		
	By:	 	 
		 	Name:
		 	Title:
		
	Attest:	 	
		
	By:	 	 
		 	Name:
		 	Title:

 [Global Notes] 

  
 A-8

 This is one of the Notes of the series designated therein referred to in the
within-mentioned Indenture. 
 Dated: October 12, 2011 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 a national banking association,
 As Trustee

		
	By:	 	 
		 	Authorized Officer

  
 A-9

 ABBREVIATIONS 
 The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations:

  

											
	 TEN COM
	 		  	—	  	as tenants in common	  	UNIF GIFT MIN ACT-	  	                          Custodian 
                         
	 TEN ENT

JT TEN
	 		  	—
 —
	  	 as tenants by the entireties

as joint tenants with right of
 survivorship and
not as
 tenants in common
	  		  	
(Cust)                        
                (Minor)
 under Uniform Gifts to Minors

Act             
         (State)

 Additional abbreviations may also be used although not in the above list. 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 
 PLEASE INSERT SOCIAL SECURITY OR 
 OTHER IDENTIFYING NUMBER OF ASSIGNEE 

 

			
	 	  	 

 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING 
 POSTAL ZIP CODE OF ASSIGNEE 
 the within Security and all rights thereunder, hereby irrevocably
constituting and appointing
                                     attorney to transfer said
Security on the books of the Company, with full power of substitution in the premises. 
 Dated: 

 

							
	 	  		  		  	

 Signature 

NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER 

  
 A-10

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 2.10 of the Supplemental Indenture, check the
box below: 
  ̈ Section 2.10 

If you want to elect to have only part of the Note purchased by the Company pursuant to Section 2.10 of the Supplemental Indenture,
state the amount you elect to have purchased: 

$                     

Date:                Your Signature: 

                         
                                   (Sign exactly as your name appears on
the face of this Note) 
 Tax Identification No: 

  
 A-11

 SCHEDULE OF INCREASES AND DECREASES3 

The following increases and decreases to this Global Note have been made: 

 

									
	 Date of Increase

or Decrease
	  	 Amount of
 Decrease in

Principal

Amount of this
 Global Note
	  	 Amount of
 Increase in

Principal

Amount of this
 Global Note
	  	 Principal
 Amount of this Global
Note Following Such
Decrease (or
Increase)
	  	 Signature of
Authorized
 Officer of

Trustee or Note
Custodian

	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 

  
  

	3 	 Include if Note is a Global Note. 

  
 A-12

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