Document:

EX-4.9

 Exhibit 4.9 

RENASANT CORPORATION 

SENIOR DEBT INDENTURE 

DATED AS OF __________ __, 20__ 

_______________________________, TRUSTEE 
  

 TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	Page Number	 
	 ARTICLE I   DEFINITIONS AND INCORPORATION BY
REFERENCE
	  			
		  	Section 1.1	  	Definitions	  			
		  	Section 1.2	  	Other Definitions	  			
		  	Section 1.3	  	Incorporation by Reference of Trust Indenture Act	  			
		  	Section 1.4	  	Rules of Construction	  			
	 ARTICLE II    THE SECURITIES
	  			
		  	Section 2.1	  	Issuable in Series	  			
		  	Section 2.2	  	Establishment of Terms of Series of Securities	  			
		  	Section 2.3	  	Execution and Authentication	  			
		  	Section 2.4	  	Registrar and Paying Agent	  			
		  	Section 2.5	  	Paying Agent to Hold Money in Trust	  			
		  	Section 2.6	  	Securityholder Lists	  			
		  	Section 2.7	  	Transfer and Exchange	  			
		  	Section 2.8	  	Mutilated, Destroyed, Lost and Stolen Securities	  			
		  	Section 2.9	  	Outstanding Securities	  			
		  	Section 2.10	  	Treasury Securities	  			
		  	Section 2.11	  	Temporary Securities	  			
		  	Section 2.12	  	Cancellation	  			
		  	Section 2.13	  	Defaulted Interest	  			
		  	Section 2.14	  	Global Securities	  			
		  	Section 2.15	  	CUSIP Numbers	  			
	 ARTICLE III  REDEMPTION
	  			
		  	Section 3.1	  	Notice to Trustee	  			
		  	Section 3.2	  	Selection of Securities to be Redeemed	  			
		  	Section 3.3	  	Notice of Redemption	  			
		  	Section 3.4	  	Effect of Notice of Redemption	  			
		  	Section 3.5	  	Deposit of Redemption Price	  			
		  	Section 3.6	  	Securities Redeemed in Part	  			
	 ARTICLE IV   COVENANTS
	  			
		  	Section 4.1	  	Payment of Principal and Interest	  			
		  	Section 4.2	  	SEC Reports	  			
		  	Section 4.3	  	Compliance Certificate	  			
		  	Section 4.4	  	Stay, Extension and Usury Laws	  			
		  	Section 4.5	  	Corporate Existence	  			
		  	Section 4.6	  	Taxes	  			
	 ARTICLE V    SUCCESSORS
	  			
		  	Section 5.1	  	When Company May Merge, Etc.	  			
		  	Section 5.2	  	Successor Corporation Substituted	  			
	 ARTICLE VI   DEFAULTS AND REMEDIES
	  			
		  	Section 6.1	  	Events of Default	  			
		  	Section 6.2	  	Acceleration of Maturity; Rescission and Annulment	  			
		  	Section 6.3	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  			
		  	Section 6.4	  	Trustee May File Proofs of Claim	  			
		  	Section 6.5	  	Trustee May Enforce Claims Without Possession of Securities	  			
		  	Section 6.6	  	Application of Money Collected	  			
		  	Section 6.7	  	Limitation on Suits	  			
		  	Section 6.8	  	Unconditional Right of Holders to Receive Principal and Interest	  			
		  	Section 6.9	  	Restoration of Rights and Remedies	  			
		  	Section 6.10	  	Rights and Remedies Cumulative	  			
		  	Section 6.11	  	Delay or Omission Not Waiver	  			
		  	Section 6.12	  	Control by Holders	  			
		  	Section 6.13	  	Waiver of Past Defaults	  			
		  	Section 6.14	  	Undertaking For Costs	  			

  
 2 

									
	 ARTICLE VII  TRUSTEE
	  			
		  	Section 7.1	  	Duties of Trustee	  			
		  	Section 7.2	  	Rights of Trustee	  			
		  	Section 7.3	  	Individual Rights of Trustee	  			
		  	Section 7.4	  	Trustee’s Disclaimer	  			
		  	Section 7.5	  	Notice of Defaults	  			
		  	Section 7.6	  	Reports by Trustee to Holders	  			
		  	Section 7.7	  	Compensation and Indemnity	  			
		  	Section 7.8	  	Replacement of Trustee	  			
		  	Section 7.9	  	Successor Trustee by Merger, Etc.	  			
		  	Section 7.10	  	Eligibility; Disqualification	  			
		  	Section 7.11	  	Referential Collection of Claims Against Company	  			
	 ARTICLE VIII   SATISFACTION AND DISCHARGE;
DEFEASANCE
	  			
		  	Section 8.1	  	Satisfaction and Discharge of Indenture	  			
		  	Section 8.2	  	Application of Trust Funds; Indemnification	  			
		  	Section 8.3	  	Legal Defeasance of Securities of Any Series	  			
		  	Section 8.4	  	Covenant Defeasance	  			
		  	Section 8.5	  	Repayment to Company	  			
	 ARTICLE IX   AMENDMENTS AND WAIVERS
	  			
		  	Section 9.1	  	Without Consent of Holders	  			
		  	Section 9.2	  	With Consent of Holders	  			
		  	Section 9.3	  	Limitations	  			
		  	Section 9.4	  	Compliance with Trust Indenture Act	  			
		  	Section 9.5	  	Revocation and Effect of Consents	  			
		  	Section 9.6	  	Notation on or Exchange of Securities	  			
		  	Section 9.7	  	Trustee Protected	  			
	 ARTICLE X    MISCELLANEOUS
	  			
		  	Section 10.1	  	Trust Indenture Act Controls	  			
		  	Section 10.2	  	Notices	  			
		  	Section 10.3	  	Communication by Holders with Other Holders	  			
		  	Section 10.4	  	Certificate and Opinion as to Conditions Precedent	  			
		  	Section 10.5	  	Statements Required in Certificate or Opinion	  			
		  	Section 10.6	  	Rules by Trustee and Agents	  			
		  	Section 10.7	  	Legal Holidays	  			
		  	Section 10.8	  	No Recourse Against Others	  			
		  	Section 10.9	  	Counterparts	  			
		  	Section 10.10	  	Governing Laws	  			
		  	Section 10.11	  	No Adverse Interpretation of Other Agreements	  			
		  	Section 10.12	  	Successors	  			
		  	Section 10.13	  	Severability	  			
		  	Section 10.14	  	Table of Contents, Headings, Etc.	  			
	 ARTICLE XI   SINKING FUNDS
	  			
		  	Section 11.1	  	Applicability of Article	  			
		  	Section 11.2	  	Satisfaction of Sinking Fund Payments with Securities	  			
		  	Section 11.3	  	Redemption of Securities for Sinking Fund	  			

  
 3 

 CROSS REFERENCE TABLE 

 

					
	 Trust Indenture Act Section
	 	 	  	 Indenture Section

	 Section 310
	 	(a)(1)	  	7.10
		 	(a)(2)	  	7.10
		 	(a)(3)	  	N/A
		 	(a)(4)	  	N/A
		 	(a)(5)	  	7.10
		 	(b)	  	7.10
	 Section 311
	 	(a)	  	7.11
		 	(b)	  	7.11
		 	(c)	  	N/A
	 Section 312
	 	(a)	  	2.6
		 	(b)	  	10.3
		 	(c)	  	10.3
	 Section 313
	 	(a)	  	7.6
		 	(b)(1)	  	7.6
		 	(b)(2)	  	7.6
		 	(c)(1)	  	7.6
		 	(d)	  	7.6
	 Section 314
	 	(a)	  	4.2, 10.5
		 	(b)	  	N/A
		 	(c)(1)	  	10.4
		 	(c)(2)	  	10.4
		 	(c)(3)	  	N/A
		 	(d)	  	N/A
		 	(e)	  	10.5
		 	(f)	  	N/A
	 Section 315
	 	(a)	  	7.1
		 	(b)	  	7.5
		 	(c)	  	7.1
		 	(d)	  	7.1
		 	(e)	  	6.14
	 Section 316
	 	(a)	  	2.10
		 	(a)(1)(A)	  	6.12
		 	(a)(1)(B)	  	6.13
		 	(b)	  	6.8
	 Section 317
	 	(a)(1)	  	6.3
		 	(a)(2)	  	6.4
		 	(b)	  	2.5
	 Section 318
	 	(a)	  	10.1

  

	*	 This Cross Reference Table shall not, for any purpose, be deemed to be part of the Indenture.

  
 4 

 Senior Debt Indenture dated as of _______ ___, 20___ between RENASANT CORPORATION, a
Mississippi corporation (“Company”), and ________________________________, as trustee (“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 I 
 DEFINITIONS
AND INCORPORATION BY REFERENCE 
 Section 1.1    Definitions. 

“Additional Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified herein
or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders. 

“Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect
to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities or by agreement or otherwise. 

“Agent” means any Registrar, Paying Agent or Service Agent. 

“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. 

“Bearer Security” means any Security, including any interest coupon appertaining thereto, that does not provide for the
identification of the Holder thereof. 
 “Board of Directors” 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. 

“Business Day” means, unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for
a particular Series, any day except a Saturday, Sunday or a legal holiday in the City of Tupelo, Mississippi, on which banking institutions are authorized or required by law, regulation or executive order to close. 

“Capital Stock” means any and all shares, interests, participations, rights or other equivalents (however designated) of corporate
stock. 
 “Company” means the party named as such above until a successor replaces it and thereafter means the successor. 

“Company Order” means a written order signed in the name of the Company by two Officers, one of whom must be the Company’s
principal executive officer, principal financial officer or principal accounting officer. 
 “Company Request” means a written
request signed in the name of the Company by its Chief Executive Officer, the President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee. 

  
 5 

 “Corporate Trust Office” means the office of the Trustee at which at any
particular time its corporate trust business shall be principally administered. 
 “Default” means any event which is, or after
notice or passage of time or both would be, an Event of Default. 
 “Depository” means, with respect to the Securities of any
Series issuable or issued in whole or in part in the form of one or more Global Securities, the person designated as Depository for such Series by the Company, which Depository shall be a clearing agency registered under the Exchange Act; and if at
any time there is more than one such person, “Depository” as used with respect to the Securities of any Series shall mean the Depository with respect to the Securities of such Series. 

“Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and
payable upon declaration of acceleration of the Stated Maturity thereof pursuant to Section 6.2. 
 “Dollars” and
“$” means the currency of the United States of America. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment
of the accounting profession, which are in effect as of the date of determination. 
 “Global Security” or “Global
Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.2 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. 
 “Indenture” means this Senior Debt 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” with respect to any Discount Security which by its terms bears interest only after Maturity, means interest payable after
Maturity. 
 “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. 

“Officer” means the Chief Executive Officer, the President, any Vice President, the Treasurer, the Secretary, any Assistant
Treasurer or any Assistant Secretary of the Company. 
 “Officers’ Certificate” means a certificate signed by two Officers,
one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer. 

“Opinion of Counsel” means a written opinion of legal counsel who is reasonably acceptable to the Trustee. The counsel may be an
employee of or counsel to the Company. 
 “person” means any individual, corporation, partnership, joint venture, association,
limited liability company, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 

  
 6 

 “principal” or “principal amount” of a Security means the principal
amount of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in respect of, the Security. 

“Responsible Officer” means any officer of the Trustee in its Corporate Trust Office and also means, with respect to a particular
corporate trust matter, any other officer to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with a particular subject. 

“SEC” means the Securities and Exchange Commission. 

“Securities” means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered under
this Indenture. 
 “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 2.2 hereof. 
 “Stated Maturity” when used with respect to any Security or any
installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” of any specified person means any corporation, association or other business entity of which more than 50% of the total
voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such person or
one or more of the other Subsidiaries of that person or a combination thereof. 
 “TIA” means the Trust Indenture Act of 1939 (15
U.S. Code Sections 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 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 securities which are (a) direct obligations of the United States of America for the payment
of which its full faith and credit is pledged or (b) obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full
faith and credit obligation by the United States of America, and which in the case of (a) and (b) are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company
as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that
(except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by
such depository receipt.
 Section 1.2    Other Definitions. 

 

			
	 Term
	  	Defined in Section
	 “Bankruptcy Law”
	  	6.1
	 “Custodian”
	  	6.1
	 “Event of Default”
	  	6.1
	 “Legal Holiday”
	  	10.7
	 “mandatory sinking fund payment”
	  	11.1
	 “optional sinking fund payment”
	  	11.1
	 “Paying Agent”
	  	2.4
	 “Registrar”
	  	2.4
	 “Service Agent”
	  	2.4
	 “successor person
	  	5.1

  
 7 

 Section 1.3    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. 

“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 statute or defined by SEC rule under
the TIA and not otherwise defined herein are used herein as so defined. 
 Section 1.4    Rules Of
Construction. Unless the context otherwise requires: 
  

	 	(a)	 a term has the meaning assigned to it; 

 

	 	(b)	 an accounting term not otherwise defined has the meaning assigned to it in accordance with generally accepted
accounting principles; 

  

	 	(c)	 references to “generally accepted accounting principles” and “GAAP” shall mean generally
accepted accounting principles, consistently applied, in effect as of the time when and for the period as to which such accounting principles are to be applied; 

 

	 	(d)	 “or” is not exclusive; 

 

	 	(e)	 words in the singular include the plural, and in the plural include the singular; and 

 

	 	(f)	 provisions apply to successive events and transactions. 

ARTICLE II

THE SECURITIES 

Section 2.1    Issuable In Series. The aggregate principal amount of Securities that may be
authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth or determined in the manner provided in a Board Resolution,
supplemental indenture or Officers’ Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board Resolution,
Officers’ Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record
date or date from which interest shall accrue) are to be determined. Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture. 

  
 8 

 Section 2.2    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 Subsection 2.2(a) and either as to such Securities within the Series or as to the Series
generally, in the case of Subsections 2.2(b) through 2.2(q)) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, supplemental indenture or an Officers’ Certificate: 

 

	 	(a)	 the title of the Series (which shall distinguish the Securities of that particular Series from the Securities
of any other Series); 

  

	 	(b)	 the price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the
Series will be issued; 

  

	 	(c)	 any limit upon the aggregate principal amount of the Securities of the Series which may be authenticated and
delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);

  

	 	(d)	 the date or dates on which the principal of the Securities of the Series is payable; 

 

	 	(e)	 the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine
such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall
accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date; 

 

	 	(f)	 the place or places where the principal of and interest, if any, on the Securities of the Series shall be
payable, where the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be served, and the
method of such payment, if by wire transfer, mail or other means; 

  

	 	(g)	 if applicable, 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; 

  

	 	(h)	 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; 

  

	 	(i)	 the dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased
by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 

  

	 	(j)	 if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the
Securities of the Series shall be issuable; 

  

	 	(k)	 the forms of the Securities of the Series in bearer or fully registered form (and, if in fully registered form,
whether the Securities will be issuable as Global Securities); 

  

	 	(l)	 if other than the entire principal amount thereof, the portion of the principal amount of the Securities of the
Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2; 

  

	 	(m)	 the provisions, if any, relating to any lien, security or encumbrance provided for the Securities of the
Series; 

  

	 	(n)	 any addition to or change in the Events of Default which applies to any Securities of the Series and any change
in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2; 

  
 9 

	 	(o)	 any addition to or change in the covenants set forth in Articles IV or V which applies to Securities of the
Series; 

  

	 	(p)	 any other terms of the Securities of the Series (which may modify or delete any provision of this Indenture
insofar as it applies to such Series); and 

  

	 	(q)	 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. 

 All Securities of any one Series need not be
issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officers’ Certificate referred to above, and the
authorized principal amount of any Series may not be increased to provide for issuances of additional Securities of such Series, unless otherwise provided in such Board Resolution, supplemental indenture or Officers’ Certificate. 

Section 2.3    Execution and Authentication. 

Two Officers shall sign the Securities for the Company by manual or facsimile signature. 

If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall
nevertheless be valid. 
 A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating
agent. Such a 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, supplemental indenture hereto or Officers’ Certificate, upon receipt by the Trustee of a Company Order. 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 a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate. 

The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount
for such Series set forth in the Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.2, except as provided in Section 2.8. 

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, supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or of
Securities within that Series, (b) an Officers’ Certificate complying with Section 10.4, and (c) an Opinion of Counsel complying with Section 10.4. 

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 be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of directors and/or Vice Presidents 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 acceptable to the Company 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 of the Company. 

  
 10 

 Section 2.4    Registrar and Paying Agent. The
Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.2, 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 each Registrar, Paying Agent or Service Agent. If at any time the Company shall fail to maintain any such required Registrar, Paying Agent or Service Agent or shall fail to furnish the Trustee
with the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the 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 to Section 2.2 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 as the initial Registrar, Paying Agent and Service Agent for each Series unless another Registrar,
Paying Agent or Service Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued. 

Section 2.5    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 of 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 of the Company) shall have no further liability for the money. If the Company or a
Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent. 

Section 2.6    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 Section 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 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. 
 Section 2.7    Transfer and Exchange. Where Securities of a
Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register
the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for
any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than
any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6). 
 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. 

  
 11 

 Section 2.8    Mutilated, Destroyed, Lost and Stolen
Securities. If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and make available for delivery in exchange therefor a new Security of the same Series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding. 
 If there shall be delivered to the Company and the Trustee
(a) evidence to their satisfaction of the destruction, loss or theft of any Security and (b) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of
notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or
stolen Security, a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion
may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security under this Section, the Company may
require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

Every new Security of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an
original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with
any and all other Securities of that Series duly issued hereunder. 
 The provisions of this Section are exclusive and shall preclude (to
the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 2.9    Outstanding Securities. The Securities outstanding at any time are all the Securities
authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this
Section as not outstanding. 
 If a Security is replaced pursuant to Section 2.8, 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 of the Company or an Affiliate of the Company) holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be
outstanding and interest on them ceases to accrue (to the extent of the Maturity of such Security if less than the entire principal amount is due and payable on such date of Maturity). 

A Security does not cease to be outstanding because the Company or an Affiliate of the Company 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 a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2. 

Section 2.10    Treasury Securities. In determining whether the Holders of the required principal amount of
Securities of a Series have concurred in any request, demand, authorization, direction, notice, consent or waiver, Securities of a Series owned by the Company shall be disregarded, except that for the purposes of determining whether the Trustee
shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver, only Securities of a Series that the Trustee knows are so owned shall be so disregarded. 

  
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 Section 2.11    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 request shall authenticate definitive Securities of the same Series and Stated Maturity in exchange for temporary
Securities. Until so exchanged, temporary Securities shall have the same rights under this Indenture as the definitive Securities. 

Section 2.12    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 registration of transfer, exchange or payment. The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement or
cancellation and deliver such canceled Securities to the Company, unless the Company otherwise directs; provided that the Trustee shall not be required to destroy Securities. The Company may not issue new Securities to replace Securities that it has
paid or delivered to the Trustee for cancellation. 
 Section 2.13    Defaulted Interest. 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 10 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 2.14    Global Securities. 
  

	 	(a)	 Terms Of Securities. A Board Resolution, a supplemental indenture hereto or an Officers’
Certificate shall establish whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depository for such Global Security or Securities. 

 

	 	(b)	 Transfer And Exchange. Notwithstanding any provisions to the contrary contained in Section 2.7
hereof and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.7 hereof 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 Exchange Act, and, in either case, the Company
fails to appoint a successor Depository registered as a clearing agency under the Exchange Act 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 of Default with respect to the Securities represented by such Global Security shall have happened and be continuing. Any Global Security that is exchangeable pursuant to the preceding sentence
shall be exchangeable for Securities registered in such names as the Depository shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms. 

Except as provided in this Section 2.14(b), a Global Security may not be transferred except as a whole by the Depository with respect to
such Global Security to a nominee of such Depository, by a nominee of such Depository to such Depository or another nominee of such Depository or by the Depository or any such nominee to a successor Depository or a nominee of such a successor
Depository. 
  

	 	(c)	 Legend. Any Global Security issued hereunder shall bear a legend in substantially the following form:

 “This Security is a Global Security within the meaning of the Indenture hereinafter referred to
and is registered in the name of the Depository or a nominee of the Depository. This Security is exchangeable for Securities registered in the name of a person other than the Depository or its nominee only in the limited circumstances described in
the Indenture, and may not be transferred except as a whole by the Depository to a nominee of the Depository, by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee to a
successor Depository or a nominee of such a successor Depository.” 

  
 13 

	 	(d)	 Acts Of Holders. The Depository, as a Holder, may appoint agents and otherwise authorize participants to
give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture. 

	 	(e)	 Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as
contemplated by Section 2.2, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof. 

  

	 	(f)	 Consents, Declaration And Directions. Except as provided in Section 2.14(e), the Company, the
Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depository with respect to such Global
Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture. 

Section 2.15    CUSIP 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 III 

REDEMPTION 

Section 3.1    Notice To Trustee. 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 prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a
Series of Securities is redeemable and the 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 45 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 a
Board Resolution, a supplemental indenture or an Officers’ Certificate, if less than all the Securities of a Series are to be redeemed, the Trustee shall select the Securities of the Series to be redeemed 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 2.2(j), the minimum principal denomination for each Series and integral multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for redemption also apply to portions of Securities of that Series
called for redemption. 
 Section 3.3    Notice of Redemption. Unless otherwise indicated for a particular
Series by Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, 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. 

  
 14 

 The notice shall identify the Securities of the Series to be redeemed and shall state: 

 

	 	(a)	 the redemption date; 

 

	 	(b)	 the redemption price; 

 

	 	(c)	 the name and address of the Paying Agent; 

 

	 	(d)	 that Securities of the Series called for redemption must be surrendered to the Paying Agent to collect the
redemption price; 

  

	 	(e)	 that interest on Securities of the Series called for redemption ceases to accrue on and after the redemption
date; 

  

	 	(f)	 the CUSIP number, if any; and 

 

	 	(g)	 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. A notice of redemption may not be conditional. Upon surrender to the Paying
Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date, provided that installments of interest whose Stated Maturity is on or prior to the redemption date shall be payable to the Holders of such
Securities (or one or more predecessor Securities) registered at the close of business on the relevant record date therefor according to their terms and the terms of this Indenture. 

Section 3.5    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, if any, 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. 

ARTICLE IV 
 COVENANTS

 Section 4.1    Payment of Principal and Interest. The Company covenants and agrees for the benefit of
the Holders of each Series of Securities that it will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture. 

Section 4.2    SEC Reports. The Company shall deliver to the Trustee within 15 days after it files them with
the SEC copies of the annual reports and of the 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 Section 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 an Officers’ Certificate). 

  
 15 

 Section 4.3    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 stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under
the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to
the best of his/her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions hereof
(or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he may have knowledge). 

The Company will, so long as any of the Securities are outstanding, deliver to the Trustee, forthwith upon becoming aware of any Default or
Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 

Section 4.4    Stay, Extension and Usury Laws. The Company covenants (to the extent that it may lawfully do
so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the covenants or
the performance of this Indenture or the Securities and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, 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 has been enacted. 

Section 4.5    Corporate Existence. Subject to Article V, the Company will do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence and the rights (charter and statutory), licenses and franchises of the Company; provided, however, that the Company shall not be required to preserve any such right,
license 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 its Subsidiaries taken as a whole and that the loss thereof is not adverse in any
material respect to the Holders. 
 Section 4.6    Taxes. The Company shall pay prior to delinquency all
taxes, assessments and governmental levies, except as contested in good faith and by appropriate proceedings. 
 ARTICLE V 

SUCCESSORS 

Section 5.1    When Company May Merge, Etc. The Company shall not consolidate with or merge with or
into, or convey, transfer or lease all or substantially all of its properties and assets to, any person (a “successor person”) unless: 
  

	 	(a)	 the Company is the surviving corporation or the successor person (if other than the Company) is a corporation
organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this Indenture; and 

 

	 	(b)	 immediately after giving effect to the transaction, no Default or Event of Default shall have occurred and be
continuing. 

 The Company shall deliver to the Trustee prior to the consummation of the proposed transaction an
Officers’ Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this Indenture. 

Section 5.2    Successor Corporation Substituted. Upon any consolidation or merger, or any sale, lease,
conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale,
lease, conveyance or other disposition 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 person has been named as the Company
herein; provided, however, that the predecessor Company in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and covenants under this Indenture and the Securities. 

  
 16 

 ARTICLE VI 

DEFAULTS AND REMEDIES 

Section 6.1    Events of Default. 

“Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following events, unless in
the establishing Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of Default: 
  

	 	(a)	 default in the payment of any interest on any Security of that Series when it becomes due and payable, and
continuance of such default for a period of 30 days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to the expiration of such period of 30 days); 

	 	(b)	 default in the payment of principal of any Security of that Series at its Maturity; 

 

	 	(c)	 default in the deposit of any sinking fund payment, when and as due in respect of any Security of that Series;

  

	 	(d)	 default in the performance or breach of any covenant or warranty of the Company in this Indenture (other than a
covenant or warranty for which the consequences of nonperformance or breach are addressed elsewhere in this Section 6.1 and other than a covenant or warranty that has been included in this Indenture solely for the benefit of Series of
Securities other than that Series), which default continues uncured 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 not less than
a majority 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;

  

	 	(e)	 the Company pursuant to or within the meaning of any Bankruptcy Law: 

 

	 	i.	 commences a voluntary case, 

 

	 	ii.	 consents to the entry of an order for relief against it in an involuntary case, 

 

	 	iii.	 consents to the appointment of a Custodian of it or for all or substantially all of its property,

  

	 	iv.	 makes a general assignment for the benefit of its creditors, or 

 

	 	v.	 generally is unable to pay its debts as the same become due; or 

 

	 	(f)	 a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

  

	 	i.	 is for relief against the Company in an involuntary case, 

 

	 	ii.	 appoints a Custodian of the Company or for all or substantially all of its property, or 

 

	 	iii.	 orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 60 days; or

  

	 	(g)	 any other Event of Default provided with respect to Securities of that Series, which is specified in a Board
Resolution, a supplemental indenture hereto or an Officers’ Certificate, in accordance with Section 2.2(n). 

The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for the relief of debtors. The term
“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

  
 17 

 Section 6.2    Acceleration of Maturity; Rescission and
Annulment. If an Event of Default with respect to Securities of any Series at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(e) or (f)), then in every such case the Trustee or the
Holders of not less than a majority in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be
specified in the terms of such Securities) of and accrued and unpaid interest, if any, on 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 amount (or portion thereof) and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Section 6.1(e) or (f) shall occur, the principal
amount (or portion thereof) of and accrued and unpaid interest, if any, on 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 all Events of Default with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, 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: 
  

	 	(a)	 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, 

  

	 	(b)	 default is made in the payment of principal of any Security at the Maturity thereof, or 

 

	 	(c)	 default is made in the deposit of any sinking fund payment when and as due by the terms of a Security,

 then, 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 and 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. 

  
 18 

 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, (a) 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 (b) 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
 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; and 

Third: To the Company. 

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: 
  

	 	(a)	 such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to
the Securities of that Series; 

  

	 	(b)	 the Holders of at least a majority 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; 

  

	 	(c)	 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; 

  
 19 

	 	(d)	 the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to
institute any such proceeding; and 

  

	 	(e)	 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, if any, 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. 

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 Section 2.8, 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, to the extent permitted by law, 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: 
  

	 	(a)	 such direction shall not be in conflict with any rule of law or with this Indenture; 

 

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

  

	 	(c)	 subject to the provisions of Section 6.1, the Trustee shall have the right to decline to follow any such
direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability. 

  
 20 

 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 (a) in the payment of the principal of or interest on any Security of such Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration
and its consequences, including any related payment default that resulted from such acceleration) or (b) in respect of a covenant or provision hereof which 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, 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 the redemption date). 
 ARTICLE VII 

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. 

 

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

 

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

  

	 	ii.	 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 Officers’
Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such 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: 

  

	 	i.	 This paragraph does not limit the effect of paragraph (b) of this Section. 

 

	 	ii.	 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. 

  

	 	iii.	 The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with
respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities of such Series relating to the time, method and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such Series. 

  
 21 

	 	(d)	 Every provision of this Indenture that in any way relates 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 or direction 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 risk its own funds or otherwise incur any financial
liability in the performance of any of its duties, 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 is not reasonably assured to
it. 

  

	 	(h)	 The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections, immunities
and standard of care as are set forth in paragraphs (a), (b) and (c) of this Section with respect to the Trustee. 

Section 7.2    Rights of Trustee. 
  

	 	(a)	 The Trustee may rely on and shall be protected in acting or refraining from acting upon 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 require an Officers’ Certificate. The Trustee
shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate. 

  

	 	(c)	 The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent
appointed with due care. No Depository shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depository. 

 

	 	(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, provided that the Trustee’s conduct does not constitute negligence or willful misconduct. 

  

	 	(e)	 The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without negligence and in good faith and in reliance thereon. 

 

	 	(f)	 The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture
at the request or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such
request or direction. 

  

	 	(g)	 The Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel
shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without negligence and in good faith and in reliance thereon. 

 

	 	(h)	 The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit. 

  

	 	(i)	 The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer
of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities generally or the
Securities of a particular Series and this Indenture. 

  
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 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 of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like
rights. The Trustee is also 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, and it shall not be responsible for any statement in
the Securities other than its 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 a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder 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 or, if later, after a Responsible Officer of the Trustee has knowledge of such Default or Event of
Default. Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as 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. 

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 register kept by the Registrar 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 Section 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, if any, 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 compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of 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 each of the Trustee and any predecessor Trustee (including the cost of
defending itself) against any loss, liability or expense, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it except as set forth in the next paragraph in the performance of its duties
under this Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one
separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. This indemnification shall apply to
officers, directors, employees, shareholders and agents of the Trustee. 
 The Company need not reimburse any expense or indemnify against
any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through negligence or willful misconduct. 

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 of 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(e) or (f) occurs, the
expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 

  
 23 

 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. 
 The Trustee
may resign with respect to the Securities of one or more Series by so notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Securities of any Series may remove the
Trustee with respect to that Series by so notifying the Trustee and the Company. The Company may remove the Trustee with respect to Securities of one or more Series if: 
  

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

 

	 	(b)	 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; 

  

	 	(c)	 a Custodian or public officer takes charge of the Trustee or its property; or 

 

	 	(d)	 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. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 If a successor Trustee with respect to the Securities of any one 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 a majority in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for 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 a 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. Notwithstanding replacement of the Trustee pursuant to this Section 7.8, the Company’s
obligations under Section 7.7 hereof shall continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by it prior to such replacement. 

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 to, another person, the successor person without any further act shall be the successor Trustee. 

Section 7.10    Eligibility; Disqualification. This Indenture shall always have a Trustee who satisfies the
requirements of TIA Section 310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA
Section 310(b). 
 Section 7.11    Referential Collection of Claims Against Company. The Trustee is
subject to TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated. 

  
 24 

 ARTICLE VIII 

SATISFACTION AND DISCHARGE; DEFEASANCE 

Section 8.1    Satisfaction and Discharge of Indenture. This Indenture shall upon Company Order cease to be of
further effect (except as hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 

 

	 	(a)	 either: 

  

	 	i.	 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 

  

	 	ii.	 all such Securities not theretofore delivered to the Trustee for cancellation 

 

	 	(1)	 have become due and payable, or 

 

	 	(2)	 will become due and payable at their Stated Maturity within one year, or 

 

	 	(3)	 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 

  

	 	(4)	 are deemed paid and discharged pursuant to Section 8.3, as applicable; 

and the Company, in the case of (1), (2) and (3) above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust 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
have become due and payable on or prior to the date of such deposit) or to the Stated Maturity or redemption date, as the case may be; 
  

	 	(b)	 the Company has paid or caused to be paid all other sums payable hereunder by the Company; and

  

	 	(c)	 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 (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.1, 8.2 and 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 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 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 (other than 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 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. 

  
 25 

	 	(c)	 The Trustee shall deliver or pay to the Company from time to time upon Company Request any U.S. Government
Obligations 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 U.S. Government Obligations or money were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S.
Government Obligations held under this Indenture. 

 Section 8.3    Legal Defeasance of
Securities of any Series. Unless this Section 8.3 is otherwise specified, pursuant to Section 2.2(p), 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 Series on the 91st day after the date of the deposit referred to in subparagraph (c) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of 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
(c) hereof, (i) payment of the principal of and each installment of principal of and 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 provisions of Sections 2.4, 2.7, 2.8, 8.2, 8.3, and 8.5; and 

 

	 	(c)	 the rights, powers, trust and immunities of the Trustee hereunder; provided that, the following conditions
shall have been satisfied: 

  

	 	i.	 the Company shall have deposited or caused to be irrevocably deposited (except as provided in
Section 8.2(c)) 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, cash in Dollars and/or U.S.
Government Obligations, 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 regionally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and
discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of all the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are
due; 

	 	ii.	 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; 

  

	 	iii.	 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; 

  

	 	iv.	 the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the
effect that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (B) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law,
in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the 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,
defeasance and discharge and will be subject to Federal income tax on the same amounts 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; 

  
 26 

	 	v.	 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

  

	 	vi.	 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    Covenant Defeasance. Unless this Section 8.4 is otherwise specified pursuant to
Section 2.2(p) 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 respect to the Securities of any Series with
any term, provision or condition set forth under Sections 4.2, 4.3, 4.4, 4.6, and 5.1 as well as any additional covenants specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officers’ Certificate
delivered pursuant to Section 2.2(p) (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect to such Series under Section 6.1) and the occurrence of any event specified in a
supplemental indenture for such Series of Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.2(n) and designated as an Event of Default 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 8.2(c)) 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, cash
in Dollars and/or U.S. Government Obligations, 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 regionally 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 of and interest, if any, on and any mandatory sinking fund payments in respect of the Securities of such Series on the dates such installments of interest or principal and
such sinking fund payments 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 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 deposit and 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 deposit and covenant defeasance had not occurred; and 

  

	 	(e)	 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 covenant 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 six months. 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. 

  
 27 

 ARTICLE IX 

AMENDMENTS AND WAIVERS 

Section 9.1    Without Consent of Holders. The Company and the Trustee may amend or supplement this Indenture
or the Securities of one or more Series without the consent of any Securityholder: 
  

	 	(a)	 to cure any ambiguity, defect or inconsistency; 

 

	 	(b)	 to comply with Article V; 

 

	 	(c)	 to provide for uncertificated Securities in addition to or in place of certificated Securities;

  

	 	(d)	 to make any change that does not adversely affect the rights of any Securityholder; 

 

	 	(e)	 to provide for the issuance of and establish the form and terms and conditions of Securities of any Series as
permitted by this Indenture; 

  

	 	(f)	 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; or 

 

	 	(g)	 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 a majority in principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection with a
tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating 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 at least a majority in principal amount of the outstanding Securities of any Series by notice to the Trustee (including consents
obtained in connection with a tender offer or exchange offer for the Securities of such Series) 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 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 may
not: 
  

	 	(a)	 reduce the amount of Securities whose Holders must consent to an amendment, supplement or waiver;

  

	 	(b)	 reduce the rate of or extend the time for payment of interest (including default interest) on any Security;

  

	 	(c)	 reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the
date fixed for, the payment of any sinking fund or analogous obligation; 

  

	 	(d)	 reduce the principal amount of Discount Securities payable upon acceleration of the maturity thereof;

  

	 	(e)	 waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security
(except a rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration);

  
 28 

	 	(f)	 make the principal of or interest, if any, on any Security payable in any currency other than that stated in
the Security; 

  

	 	(g)	 make any change in Sections 6.8, 6.13, or 9.3 (this sentence); or 

 

	 	(h)	 waive a redemption payment with respect to any Security. 

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 a supplemental indenture hereto that complies with the TIA as then in effect. 

Section 9.5    Revocation and Effect of Consents. Until an amendment is set forth in a supplemental indenture
or a 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 of the
supplemental indenture or the date the waiver becomes effective. 
 Any amendment or waiver once effective shall bind every Securityholder
of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of 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 modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in relying upon, an Opinion
of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee shall sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that adversely
affects its rights. 
 ARTICLE X 

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. 

Section 10.2    Notices. Any notice or communication by the Company or the Trustee to the other, or by a
Holder to the Company or the Trustee, is duly given if in writing and delivered in person or mailed by first-class mail: 
 if to the
Company: 
 Renasant Corporation 

209 Troy Street 
 Tupelo,
Mississippi 3804-4827 
 Attention: Chief Executive Officer 

Telephone: (662) 680-1001 

  
 29 

 if to the Trustee: 
  

					
		 	   
	 	   

			
		 	   
	 	   

			
		 	   
	 	   

			
		 	Attention:	 	 
			
		 	Telephone:	 	 

 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    Communication by Holders with Other Holders. Securityholders of any Series may communicate
pursuant to TIA Section 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 Section 312(c). 
 Section 10.4    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: 
  

	 	(a)	 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 

  

	 	(b)	 an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been
complied with. 

 Section 10.5    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 Section 314(a)(4)) shall comply with the provisions of TIA Section 314(e) and shall include: 
  

	 	(a)	 a statement that the person making such certificate or opinion has read such covenant or condition;

  

	 	(b)	 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; 

  

	 	(c)	 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 

  

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

  
 30 

 Section 10.6    Rules by Trustee and Agents. The Trustee may
make reasonable rules for action by, or a meeting of, Securityholders of one or more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions. 

Section 10.7    Legal Holidays. Unless otherwise provided by Board Resolution, Officers’ Certificate or
supplemental indenture hereto for a particular Series, a “Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that
is not a Legal Holiday, and no interest shall accrue for the intervening period. 
 Section 10.8    No Recourse
Against Others. A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of
such obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 

Section 10.9    Counterparts. 

This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 10.10    Governing Laws. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY THE LAWS OF THE STATE
OF MISSISSIPPI APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS THEREOF. 

Section 10.11    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 of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

Section 10.12    Successors. All agreements of the Company in this Indenture and the Securities shall bind its
successor. All agreements of the Trustee in this Indenture shall bind its successor. 

Section 10.13    Severability. In case any provision in this Indenture or in the Securities shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 10.14    Table of Contents, Headings, Etc. The Table of Contents, Cross-Reference Table, and headings
of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

ARTICLE XI 
 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. 

  
 31 

 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 any Series to be made pursuant to the terms of such Securities (a) 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 (b) apply as credit Securities of such Series to which such sinking fund payment is applicable and
which have been repurchased by the Company or 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. 
 Section 11.3    Redemption Of Securities
For Sinking Fund. Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental indenture or Officers’ Certificate in respect of a particular Series of Securities) prior to each sinking fund payment date for any
Series of Securities, the 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 30 days (unless otherwise indicated in the Board Resolution, 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. 

  
 32 

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

	
	RENASANT CORPORATION
	
	   

	By:
	Title:
	
	[TRUSTEE]
	
	   

	By:
	Title:

  

  
 33Exhibit 10.1

 

 

 

 

 

 

 

 

 

 

 

 

 

iPic Entertainment Inc. 

 

 

 

 

ANNUAL INCENTIVE PLAN DOCUMENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

iPic Entertainment Inc.

ANNUAL INCENTIVE PLAN

 

For Plan Year 2018

 

TABLE OF CONTENTS

 

	1.	Definitions	1
	2.	Administration	2
	3.	Participation	2
	4.	Determination of Bonus Awards	3
	5.	Bonus Targets	3
	6.	Form of Payment	4
	7.	Eligibility	4
	8.	Miscellaneous Terms and Provisions	5

 

     

     

    

 

INTRODUCTION

 

The iPic Entertainment Inc. Annual Incentive Plan (hereinafter
referred to as the ‘Plan’) has been established for the purpose of providing bonus compensation to eligible designated
employees of iPic Entertainment Inc. and its Affiliates (hereinafter collectively referred to as the ‘Company’). The
Company intends and desires to create individual performance incentives for designated employees by providing bonus compensation
awards based upon individual contributions to Company profitability. Such bonus compensation is intended to encourage levels of
individual performance that will assure focus by employees on continued Company profitability. It is further intended that when
added to other forms of compensation the bonus compensation awards will result in total compensation to employees in amounts that
are competitive when Company performance is compared to peer organizations.

 

Article
1 - Definitions

 

For purposes of the Plan, unless the context requires otherwise,
the following terms should have the meanings set forth below.

 

		1.1	“Affiliate” means (a) any entity that, directly or indirectly through one or more intermediaries, is controlled
by the Company and (b) any entity in which the Company has a significant equity interest, in each case determined by the Committee.

 

		1.2	“Board” means the Board of Directors of the Company.

 

		1.3	“Bonus Target” means a percentage established to represent a normal or average bonus percentage determined through
competitive survey analysis and based on each position’s relative importance to the overall financial success of the Company.

 

		1.4	“CEO” means the Chief Executive Officer of the Company.

 

		1.5	“Code” means the Internal Revenue Code of 1986, as amended from time to time.

 

		1.6	“Committee” means the Compensation Committee of the Board.

 

		1.7	“Company” means iPic Entertainment Inc.

 

		1.8	“Employee” means an employee of the Company.

 

		1.9	“Executive Officers” means the individuals elected and confirmed by the Board.

 

		1.10	“Participant” means an Employee who is selected by the Company to participate in the Plan.

 

		1.11	“Performance Criteria” means those performance measures approved by the Plan Administrator that determine the level
of Bonus Target to be earned.

 

		1.12	“Plan” means the iPic Entertainment Inc. Annual Incentive Plan.

 

		1.13	“Plan Administrator” means the Committee in its capacity as administrator of the Plan, or the CEO, in his capacity
as administrator of the Plan, to the extent that the Committee shall have delegated administration authority to the CEO pursuant
to Article 2 hereof.

 

		1.14	“Plan Year” means the Company’s fiscal year.

 

    	 	1	 

     

    

 

Article
2 - Administration

 

		2.1	The Plan shall be administered by the Committee; provided that the Committee may delegate authority to administer the Plan
to the CEO with respect to all Participants who are not Executive Officers. Subject to Board approval of the Annual Budget, the
Plan Administrator is empowered to:

 

		2.1.1	Review and approve all determinations relating to the eligibility of Participants;

 

		2.1.2	Make rules and regulations for the administration of the Plan which are not inconsistent with the terms and provisions hereof;

 

		2.1.3	Construe all terms, provisions, conditions, and limitations of the Plan in good faith. All such determinations shall be final
and conclusive on all parties of interest;

 

		2.1.4	Review and approve determinations and computations concerning the amounts to which any Participant or his beneficiary is entitled
under the Plan;

 

		2.1.5	Select, employ, and compensate from time to time consultants, accountants, attorneys and other agents as the Company may deem
necessary or advisable for the proper and efficient administration of the Plan.

 

		2.2	The foregoing list of express powers is not intended to be either complete or exclusive, but the Plan Administrator shall,
in addition, have such powers, whether or not expressly authorized, that it may deem necessary, desirable, advisable, or proper
for the supervision and administration of the Plan. Except as otherwise specifically provided herein, the decision or judgment
of the Plan Administrator on any question arising hereunder in connection with the exercise of any of its powers shall be final,
binding, and conclusive upon all parties concerned.

 

		2.3	The Plan Administrator shall have the responsibility of authorizing payment to each eligible Participant and directing that
such payment be disbursed by the Company.

 

		2.4	The Committee may, at any time, amend or terminate the Plan. Such amendments or terminations may be made without the consent
of the Participants; provided that the Plan shall not be amended without the consent of the Company’s stockholders to the
extent required by applicable law, rule or regulation.

 

Article
3 - Participation

 

		3.1	The designation of Employees of the Company as Participants under the Plan shall be approved by the Plan Administrator, and
no Employee of the Company will have the right to require the Plan Administrator to make him or her a Participant or to allow him
or her to remain a Participant under the Plan.

 

    	 	2	 

     

    

 

Article
4 - Determination of Bonus Awards

 

		4.1	During the course of the Plan Year, the Plan Administrator shall review and approve those Performance Criteria which will measure
the Company’s financial and/or operational performance for the applicable Plan Year. Additional Performance Criteria (“APC”)
may be developed by the Plan Administrator and the department managers and submitted to the Plan Administrator for review and approval.
Once approved, the APC will be provided in writing to the applicable Participant. The individual APCs will form the basis of the
APC portion of the bonus. The Plan Administrator, with the assistance of Company department managers, as applicable, will determine
threshold, target, and maximum levels of performance for each Performance Criteria and APC considered.

 

		4.2	The Company’s performance will be evaluated on an absolute basis by determining the Company’s achievement versus
a budgeted or pre-established level of performance approved by the Plan Administrator.

 

		4.3	The Plan Administrator will weigh each of the APC based upon the strategic importance of the respective APC in consideration
of the Company’s annual business plan, and will determine what portion of the bonus award will be allocated to Performance
Criteria and APC on an individual by individual basis. The weightings of the Performance Criteria and the agreed upon APC may change
from one Plan Year to the next, without notice or input from the Participants.

 

		4.4	In determining the Company’s performance during a measurement period, Performance Criteria and APC will be utilized.
Performance Criteria and APC may be modified, deleted, or added to from one Plan Year to the next as determined by the Plan Administrator
in its judgment and discretion.

 

		4.5	Following the close of the Plan Year, the Plan Administrator will evaluate the Company’s performance and individual performance
compared to the Performance Criteria and APC. The results of this evaluation will serve as the basis for the determination of the
amount of Bonus Target earned, which may range from 0 percent to as much as 125 percent of Participants’ Bonus Targets.

 

Article 5 - Bonus Targets

 

		5.1	Bonus Targets for each position are established based upon the position’s relative importance to the overall financial
success of the Company. The Plan Administrator shall review and approve a Bonus Target for each eligible Participant based upon
the schedule attached hereto as Exhibit ‘A.’

 

		5.2	Each bonus award shall be calculated by using the established Bonus Target for Participants in the Plan, adjusted by the results
of the Performance Criteria and the APC. A qualitative evaluation of the Participant’s performance will also be used to adjust
a Participant’s bonus award. The established Bonus Target, as adjusted, will serve as the norm for a range of possible bonus
awards.

 

    	 	3	 

     

    

 

Article
6 - Form of Payment

 

		6.1	Bonuses payable under the Plan shall be paid via payroll after deductions for all applicable taxes.

 

		6.2	Bonuses will typically be paid under the Plan in the second quarter after the end of the Plan Year. The Committee may approve
a deferral of the payment of bonuses with payment in whole at a later date or in installments over a period of time. The length
of time of deferral or installment period will be determined at the discretion of the Committee.

 

		6.3	Each award or bonus hereunder, including any amounts paid on a differed basis at the direction of the Company shall be construed
and administered such that it either (i) qualifies for an exemption from the requirements of section 409A of the Code or (ii) satisfies
the requirements of section 409A of the Code. If an award or bonus subject to section 409A of the Code, (A) distributions shall
only be made in a manner and upon an event permitted under section 409A of the Code, (B) payments to be made upon a termination
of employment shall only be made upon a “separation from service” under section 409A of the Code, (C) unless the award
or bonus specifies otherwise, each installment payment shall be treated as a separate payment for purposes of section 409A of the
Code, and (D) in no event shall a Participant, directly or indirectly, designate the calendar year in which a payment is made except
in accordance with section 409A of the Code. Any award or bonus that is subject to section 409A of the Code and that is to be paid
to a “specified employee” (within the meaning of section 409A of the Code and its corresponding regulations) upon separation
from service shall be administered so that any payment shall be postponed for six months following the date of the Participant’s
separation from service, if required by section 409A of the Code.

 

Article
7 - Eligibility

 

		7.1	Upon hire to an eligible position, the Participant will be eligible for the iPic Entertainment Inc. Annual Incentive Plan after
ninety (90) days of continuous service; the bonus payment will be prorated from date of hire.

 

		7.2	If a Participant is promoted into a bonus eligible position, Participant will receive a prorated payment from the promotion
date into the bonus eligible position. If a Participant is promoted into a different bonus level position, the bonus will be prorated
for both positions (if applicable). Participants who are granted an official leave of absence for any reason allowed by Company
policy will be eligible for a prorated payment.

 

		7.3	Payment is contingent upon continuous employment at the time of bonus payout, except for (i) termination due to the death or
permanent disability of the Participant and (ii) payment of bonus amounts which have been deferred pursuant to Section 6.2. In
the event a Participant dies or becomes permanently disabled at any time during the Plan Year, if otherwise eligible under the
Plan, such Participant shall be entitled to receive a bonus, prorated as of the date of death or permanent disability of such Participant.
In the event that a Participant terminates employment prior to the payment of all bonus amounts the payment of which has been deferred
pursuant to Section 6.2, such Participant shall continue to be eligible to receive payment of the deferred bonus amounts on the
deferral schedule established pursuant to Section 6.2.

 

    	 	4	 

     

    

 

Article 8 - Miscellaneous
Terms and Provisions

 

		8.1	No Employee shall have any claim or right to be paid a bonus or any form of award, and the award of a bonus will not be construed
as giving a Participant the right to be retained in the employ of the Company. Further, the Company expressly reserves the right
at any time to terminate the employment of any Participant free from any liability under the Plan.

 

		8.2	The validity, construction, and effect of the Plan and any actions taken or relating to the Plan shall be determined in accordance
with the laws of the State of Florida and applicable Federal law.

 

		8.3	The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all
or substantially all of the business and/or assets of the Company, expressly to assume and agree to perform the Company’s
obligations under this Plan in the same manner and to the same extent that the Company would be required to perform them if no
such succession had taken place. As used herein, the “Company” shall mean the Company as hereinbefore defined and any
aforesaid successor to its business and/or assets.

 

		8.4	No member of the Board, the Plan Administrator, Committee, nor any other officer or Employee of the Company acting on behalf
of the Board, the Plan Administrator, or the Committee shall be personally liable for any action, determination, or interpretation
taken or made in good faith with respect to the Plan, and all members of the Board, the Plan Administrator, the Committee, and
each and any officer or Employee of the Company acting on their behalf shall, to the extent permitted by law, be fully indemnified
and protected by the Company in respect of any such action, determination, or interpretation.

 

    	 	5	 

     

    

 

iPic Entertainment Inc.

 

Exhibit A

Participation and Target

 

The Ipic Entertainment Inc. Annual Incentive Plan is designed
to reward participation resulting in improvements to our previous year’s results along with other critical measures that
drive the success of the business. This Annual Incentive Plan is effective for the 2018 Plan Year, and modifies any existing incentive
plans.

 

Eligible Participants and target bonus in
certain percentages are as follows:

 

	Level	 	% of Annual Earned Base Salary	 
	President & CEO	 	 	125	%*
	COO, CFO and Secretary and General Counsel	 	 	50	%
	Senior Executive (VP level and higher)	 	 	30	%
	Area and Regional Directors	 	 	20	%**
	Director Level	 	 	15	%
	Management Level	 	 	10	%
	Administrative Level	 	 	5	%

 

		*	Bonus Conditions for President & CEO Level: 75% of
the bonus upon achieving 90% of the targeted EBITDA budget, 100% of the bonus upon achieving the targeted EBITDA budget, and 125%
of the bonus achieving 110% of the targeted EBITDA budget. Bonus is payable following the end of the financial year.

 

		**	Positions with regional or department responsibility, direct reports and or have a direct
                                                                              reporting relationship to the COO.

 

    	 	6	 

     

    

 

Components of Plan:

 

Unless otherwise determined by the Board of Directors, the Budgeted
EBITDA goal must be achieved for Participants to qualify to receive payout as described below:

 

	Percent of Bonus Paid	 	 	Performance Criteria
	 	100%	 	 	Company targeted EBITDA budget achieved and APC met
	 	75%	 	 	Company achieves 90% of targeted EBITDA budget and APC met
	 	125%	 	 	Company achieves 110% of targeted EBITDA budget and APC met

 

    	 	7

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