Document:

EX-4.4

 Exhibit 4.4 
  

 
  

CNB Financial Corporation 

as Issuer 
 and

 [                ] 

as Trustee 
  

 
 FORM OF
INDENTURE 
 Dated as of [                ]

 Subordinated Debt Securities 
  

 
  

 
  

 CERTAIN SECTIONS OF THIS INDENTURE 

RELATING TO SECTIONS 310 THROUGH 318 INCLUSIVE, 

OF THE TRUST INDENTURE ACT OF 1939 
  

			
	 Trust Indenture Act Section
	  	 INDENTURE Section

	Section 310(a)(1)	  	Section 609
	(a)(2)	  	Section 609
	(a)(3)	  	Not Applicable
	(a)(4)	  	Not Applicable
	(b)	  	Section 608
		  	Section 610
	Section 311(a)	  	Section 613
	(b)	  	Section 613
	Section 312(a)	  	Section 701
		  	Section 702
	(b)	  	Section 702
	(c)	  	Section 702
	Section 313(a)	  	Section 703
	(b)	  	Section 703
	(c)	  	Section 703
	(d)	  	Section 703
	Section 314(a)	  	Section 704
	(a)(4)	  	Section 1004
	(b)	  	Not Applicable
	(c)(1)	  	Section 102
	(c)(2)	  	Section 102
	(c)(3)	  	Not Applicable
	(d)	  	Not Applicable
	(e)	  	Section 102
	Section 315(a)	  	Section 601
	(b)	  	Section 602
	(c)	  	Section 601
	(d)	  	Section 601
	(e)	  	Section 513
	Section 316(a)	  	Section 101
	(a)(1)(A)	  	Section 502, Section 511
	(a)(1)(B)	  	Section 512
	(a)(2)	  	Not Applicable
	(b)	  	Section 508
	(c)	  	Section 104
	Section 317(a)(1)	  	Section 503
	(a)(2)	  	Section 504
	(b)	  	Section 1003
	Section 318(a)	  	Section 107

  
 NOTE: This
reconciliation and tie shall not, for any purpose, be deemed to be a part of this Indenture. 

  
 i 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	 
			
	 Section 101.
	 	Definitions	  	 	1	 
	 Section 102.
	 	Compliance Certificates and Opinions	  	 	6	 
	 Section 103.
	 	Form of Documents Delivered to Trustee	  	 	6	 
	 Section 104.
	 	Acts of Holders; Record Dates	  	 	7	 
	 Section 105.
	 	Notices, Etc., to Trustee and Company	  	 	8	 
	 Section 106.
	 	Notice to Holders; Waiver	  	 	9	 
	 Section 107.
	 	Conflict with Trust Indenture Act	  	 	9	 
	 Section 108.
	 	Effect of Headings and Table of Contents	  	 	9	 
	 Section 109.
	 	Successors and Assigns	  	 	9	 
	 Section 110.
	 	Separability Clause	  	 	9	 
	 Section 111.
	 	Benefits of Indenture	  	 	9	 
	 Section 112.
	 	Governing Law	  	 	10	 
	 Section 113.
	 	Legal Holidays	  	 	10	 
	 Section 114.
	 	No Recourse Against Others	  	 	10	 
	 Section 115.
	 	WAIVER OF JURY TRIAL	  	 	10	 
	 Section 116.
	 	Submission to Jurisdiction	  	 	10	 
		
	 ARTICLE II SECURITY FORMS
	  	 	11	 
			
	 Section 201.
	 	Forms Generally	  	 	11	 
	 Section 202.
	 	Form of Legend for Global Securities	  	 	11	 
	 Section 203.
	 	Form of Trustee’s Certificate of Authentication	  	 	12	 
		
	 ARTICLE III THE SECURITIES
	  	 	12	 
			
	 Section 301.
	 	Amount Unlimited; Issuable in Series	  	 	12	 
	 Section 302.
	 	Denominations	  	 	14	 
	 Section 303.
	 	Execution, Authentication, Delivery and Dating	  	 	14	 
	 Section 304.
	 	Temporary Securities	  	 	15	 
	 Section 305.
	 	Registration, Registration of Transfer and Exchange	  	 	16	 
	 Section 306.
	 	Mutilated, Destroyed, Lost and Stolen Securities	  	 	17	 
	 Section 307.
	 	Payment of Interest; Interest Rights Preserved	  	 	18	 
	 Section 308.
	 	Persons Deemed Owners	  	 	19	 
	 Section 309.
	 	Cancellation	  	 	19	 
	 Section 310.
	 	Computation of Interest	  	 	19	 
	 Section 311.
	 	CUSIP Numbers	  	 	19	 
	 Section 312.
	 	Original Issue Discount	  	 	19	 
		
	 ARTICLE IV SATISFACTION AND DISCHARGE
	  	 	20	 
			
	 Section 401.
	 	Satisfaction and Discharge of Indenture	  	 	20	 
	 Section 402.
	 	Application of Trust Money	  	 	20	 
		
	 ARTICLE V REMEDIES
	  	 	21	 
			
	 Section 501.
	 	Events of Default	  	 	21	 
	 Section 502.
	 	Acceleration of Maturity; Rescission and Annulment	  	 	22	 
	 Section 503.
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	22	 

  
 ii 

							
	 Section 504.
	 	Trustee May File Proofs of Claim	  	 	23	 
	 Section 505.
	 	Trustee May Enforce Claims Without Possession of Securities	  	 	23	 
	 Section 506.
	 	Application of Money Collected	  	 	23	 
	 Section 507.
	 	Limitation on Suits	  	 	24	 
	 Section 508.
	 	Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Securities	  	 	24	 
	 Section 509.
	 	Rights and Remedies Cumulative	  	 	24	 
	 Section 510.
	 	Delay or Omission Not Waiver	  	 	24	 
	 Section 511.
	 	Control by Holders	  	 	25	 
	 Section 512.
	 	Waiver of Past Defaults	  	 	25	 
	 Section 513.
	 	Undertaking for Costs	  	 	25	 
	 Section 514.
	 	Waiver of Usury, Stay or Extension Laws	  	 	25	 
	 Section 515.
	 	Restoration of Rights and Remedies	  	 	25	 
		
	 ARTICLE VI THE TRUSTEE
	  	 	26	 
			
	 Section 601.
	 	Certain Duties and Responsibilities of Trustee	  	 	26	 
	 Section 602.
	 	Notice of Defaults	  	 	26	 
	 Section 603.
	 	Certain Rights of Trustee	  	 	26	 
	 Section 604.
	 	Not Responsible for Recitals or Issuance of Securities	  	 	28	 
	 Section 605.
	 	May Hold Securities	  	 	28	 
	 Section 606.
	 	Money Held in Trust	  	 	28	 
	 Section 607.
	 	Compensation and Reimbursement	  	 	28	 
	 Section 608.
	 	Conflicting Interests	  	 	29	 
	 Section 609.
	 	Corporate Trustee Required; Eligibility	  	 	29	 
	 Section 610.
	 	Resignation and Removal; Appointment of Successor	  	 	29	 
	 Section 611.
	 	Acceptance of Appointment by Successor	  	 	30	 
	 Section 612.
	 	Merger, Conversion, Consolidation or Succession to Business	  	 	31	 
	 Section 613.
	 	Preferential Collection of Claims Against Company	  	 	31	 
	 Section 614.
	 	Appointment of Authenticating Agent	  	 	31	 
		
	 ARTICLE VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	32	 
			
	 Section 701.
	 	Company to Furnish Trustee Names and Addresses of Holders	  	 	32	 
	 Section 702.
	 	Preservation of Information; Communications to Holders	  	 	32	 
	 Section 703.
	 	Reports by Trustee	  	 	33	 
	 Section 704.
	 	Reports by Company	  	 	33	 
		
	 ARTICLE VIII CONSOLIDATION, MERGER AND SALE OF ASSETS
	  	 	33	 
			
	 Section 801.
	 	Company May Merge or Transfer Assets Only on Certain Terms	  	 	33	 
	 Section 802.
	 	Successor Corporation Substituted	  	 	34	 
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	 	34	 
			
	 Section 901.
	 	Supplemental Indentures Without Consent of Holders	  	 	34	 
	 Section 902.
	 	Supplemental Indentures With Consent of Holders	  	 	35	 
	 Section 903.
	 	Execution of Supplemental Indentures	  	 	36	 
	 Section 904.
	 	Effect of Supplemental Indentures	  	 	36	 
	 Section 905.
	 	Conformity with Trust Indenture Act	  	 	36	 
	 Section 906.
	 	Reference in Securities to Supplemental Indentures	  	 	36	 
		
	 ARTICLE X COVENANTS
	  	 	36	 
			
	 Section 1001.
	 	Payment of Principal, Premium, if any, and Interest	  	 	36	 

  
 iii 

							
	 Section 1002.
	 	Maintenance of Office or Agency	  	 	37	 
	 Section 1003.
	 	Money for Securities Payments to Be Held in Trust	  	 	37	 
	 Section 1004.
	 	Statement by Officers as to Default	  	 	38	 
	 Section 1005.
	 	Waiver of Certain Covenants	  	 	38	 
		
	 ARTICLE XI REDEMPTION OF SECURITIES
	  	 	38	 
			
	 Section 1101.
	 	Applicability of Article	  	 	38	 
	 Section 1102.
	 	Election to Redeem; Notice to Trustee	  	 	38	 
	 Section 1103.
	 	Selection by Trustee of Securities to Be Redeemed	  	 	39	 
	 Section 1104.
	 	Notice of Redemption	  	 	39	 
	 Section 1105.
	 	Deposit of Redemption Price	  	 	40	 
	 Section 1106.
	 	Securities Payable on Redemption Date	  	 	40	 
	 Section 1107.
	 	Securities Redeemed in Part	  	 	41	 
		
	 ARTICLE XII SINKING FUNDS
	  	 	41	 
			
	 Section 1201.
	 	Applicability of Article	  	 	41	 
	 Section 1202.
	 	Satisfaction of Sinking Fund Payments with Securities	  	 	41	 
	 Section 1203.
	 	Redemption of Securities for Sinking Fund	  	 	41	 
		
	 ARTICLE XIII DEFEASANCE AND COVENANT DEFEASANCE
	  	 	42	 
			
	 Section 1301.
	 	Company’s Option to Effect Defeasance or Covenant Defeasance	  	 	42	 
	 Section 1302.
	 	Defeasance and Discharge	  	 	42	 
	 Section 1303.
	 	Covenant Defeasance	  	 	42	 
	 Section 1304.
	 	Conditions to Defeasance or Covenant Defeasance	  	 	42	 
	 Section 1305.
	 	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions	  	 	44	 
	 Section 1306.
	 	Reinstatement	  	 	44	 
		
	 ARTICLE XIV REPAYMENT AT THE OPTION OF HOLDERS
	  	 	44	 
			
	 Section 1401.
	 	Applicability of Article	  	 	44	 
	 Section 1402.
	 	Repayment of Securities	  	 	44	 
	 Section 1403.
	 	Exercise of Option	  	 	45	 
	 Section 1404.
	 	When Securities Presented for Repayment Become Due and Payable	  	 	45	 
	 Section 1405.
	 	Securities Repaid in Part	  	 	45	 
		
	 ARTICLE XV SUBORDINATION OF SECURITIES
	  	 	46	 
			
	 Section 1501.
	 	Securities Subordinate to Senior Debt	  	 	46	 
	 Section 1502.
	 	Payments to Securityholders	  	 	46	 
	 Section 1503.
	 	Subrogation to Rights of Holders of Senior Debt	  	 	47	 
	 Section 1504.
	 	Article Not to Prevent Event of Default	  	 	47	 
	 Section 1505.
	 	Trustee to Effectuate Subordination; No Impairment of Subordination	  	 	47	 
	 Section 1506.
	 	Notice to Trustee	  	 	48	 
	 Section 1507.
	 	Reliance on Certificate of Liquidating Agent	  	 	48	 
	 Section 1508.
	 	Trustee Not Fiduciary for Holders of Senior Debt	  	 	49	 
	 Section 1509.
	 	Rights of Trustee as Holder of Senior Debt	  	 	49	 
	 Section 1510.
	 	Article Applicable to Paying Agent	  	 	49	 
	 Section 1511.
	 	Trust Moneys Not Subordinated	  	 	49	 

  
 iv 

 INDENTURE, dated as of
[                ], between CNB Financial Corporation, a Pennsylvania corporation (herein called the “Company”), and
[                ], as Trustee (herein called the “Trustee”). 

RECITALS OF THE COMPANY 
 The
Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its subordinated debt securities (herein called the “Securities”), to be issued in one or more series as in
this Indenture provided. 
 All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have
been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and
proportionate benefit of all Holders of the Securities or of any series thereof (and, with respect to the provisions of Article Fifteen, the holders of Senior Debt (as hereinafter defined)), as follows: 

ARTICLE I 
 DEFINITIONS
AND OTHER PROVISIONS 
 OF GENERAL APPLICATION 

Section 101. Definitions. 
 For all purposes
of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
  

	 	(1)	 the terms defined in this Article I have the meanings assigned to them in this Article I and include the plural
as well as the singular; 

  

	 	(2)	 all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference
therein, have the meanings assigned to them therein; 

  

	 	(3)	 all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP;

  

	 	(4)	 unless the context otherwise requires, any reference to an “Article” or a “Section” refers
to an Article or a Section, as the case may be, of this Indenture; 

  

	 	(5)	 the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; 

  

	 	(6)	 “including” means including without limitation; 

 

	 	(7)	 “or” is inclusive; 

 

	 	(8)	 references to statutes are to be construed as including all statutory provisions consolidating, amending or
replacing the statute referred to; 

  

	 	(9)	 when used with respect to any Security, the words “convert,” “converted” and
“conversion” are intended to refer to the right of the Holder or the Company to convert or exchange such Security into or for securities or other property in accordance with such terms, if any, as may hereafter be specified for such
Security as contemplated by Section 301, and these words are not intended to refer to any right of the Holder or the Company to exchange such Security for other Securities of the same series and like tenor pursuant to Section 304,
Section 305, Section 306, Section 906 or Section 1107 or another similar provisions of this Indenture, unless the context otherwise requires; and references herein to the terms of any Security that may be converted mean such
terms as may be specified for such Security as contemplated in Section 301; and 

	 	(10)	 unless otherwise provided, references to agreements and other instruments shall be deemed to include all
amendments and other modifications to such agreements and instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Indenture. 

“Act,” when used with respect to any Holder, has the meaning specified in Section 104. 

“Affiliate” means, with respect to any specified Person, any other Person directly or indirectly controlling or controlled by
or under direct or indirect common control with such specified Person. For purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly
or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Applicable Procedures” means, with respect to a Depositary, as to any matter at any time, the policies and procedures of
such Depositary, if any, that are applicable to such matter at such time. 
 “Authenticating Agent” means any Person
authorized by the Trustee pursuant to Section 614 to act on behalf of the Trustee to authenticate Securities of one or more series. 

“Bankruptcy Law” has the meaning specified in Section 501. 

“Board of Directors” means either the Board of Directors of the Company or any duly authorized committee of that Board of
Directors. 
 “Board Resolution” means a copy of one or more resolutions certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification and delivered to the Trustee. 

“Business Day” means, when used with respect to any Place of Payment, unless otherwise specified as contemplated by
Section 301, any day, other than a Saturday or Sunday, which is not a day on which banking institutions are authorized or obligated by law or executive order to close in that Place of Payment. 

“Commission” means the U.S. Securities and Exchange Commission, from time to time constituted, created under the Exchange
Act, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

“Company” means the Person named as the “Company” in the first paragraph of this Indenture until a successor Person
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Request” or “Company Order” means a written request or order signed in the name of the Company by
an Officer of the Company (or any Person designated in writing by an Officer of the Company as authorized to execute and deliver Company Requests and Company Orders), and delivered to the Trustee. 

“Corporate Trust Office” means the principal office of the Trustee at which, at any particular time, its corporate trust
business shall be conducted (which office is located as of the date of this Indenture at [                ], or at any other time at such other address as the Trustee
may designate from time to time by notice to the Holders). 
 “Covenant Defeasance” has the meaning specified in
Section 1303. 
 “Custodian” has the meaning specified in Section 501. 

“Debt” means, with respect to any Person, whether recourse is to all or a portion of the assets of that Person and whether or
not contingent: 
 (1) every obligation of that Person for money borrowed; 

(2) every obligation of that Person evidenced by bonds, debentures, notes or other similar instruments, including obligations
incurred in connection with the acquisition of property, assets or businesses; 

  
 2 

 (3) every reimbursement obligation of that Person with respect to letters of
credit, bankers’ acceptances or similar facilities issued for the account of that Person; 
 (4) every obligation of
that Person incurred in connection with the acquisition of property or services, but excluding trade accounts payable or accrued liabilities arising in the ordinary course of business; 

(5) every capital lease obligation of that Person; and 

(6) every obligation of the type referred to above of another Person and all dividends of another Person the payment of which,
in either case, such Person has guaranteed or for which such Person is responsible or liable, directly or indirectly, as obligor or otherwise. 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 

“Defaulted Interest” has the meaning specified in Section 307. 

“Defeasance” has the meaning specified in Section 1302. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 301. 

“Event of Default” has the meaning specified in Section 501. 

“Exchange Act” means the U.S. Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended from
time to time. 
 “Expiration Date” has the meaning specified in Section 104. 

“GAAP” means generally accepted accounting principles in the United States as in effect from time to time. 

“Global Security” means a Security that evidences all or part of the Securities of any series and bears the legend set forth
in Section 202 (or such legend as may be specified as contemplated by Section 301 for such Securities). 

“Holder” means a Person in whose name a Security is registered in the Security Register. 

“Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part
of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 301. 

“interest” means, when used with respect to an Original Issue Discount Security which by its terms bears interest only after
Maturity, interest payable after Maturity. 
 “Interest Payment Date” means, when used with respect to any Security, the
Stated Maturity of an installment of interest on such Security. 
 “Internal Revenue Code” means the U.S. Internal Revenue
Code of 1986, as amended from time to time. 
 “Maturity” means, when used with respect to any Security, the date on which
the principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Notice of Default” means a written notice of the kind specified in Section 501. 

“Officer” means the Chief Executive Officer, the Chief Financial Officer, the Corporate Treasurer, the Corporate Controller,
or the General Counsel and Secretary, of the Company. 

  
 3 

 “Officer’s Certificate” means a certificate signed by an Officer of
the Company (or any Person designated in writing by an Officer of the Company as authorized to execute and deliver Officer’s Certificates) and delivered to the Trustee. 

“Opinion of Counsel” means a written opinion of counsel (who may be counsel for the Company) and which shall be reasonably
acceptable to the Trustee. The counsel may be an employee of the Company. Opinions of Counsel required to be delivered under this Indenture may have qualifications customary for opinions of the type required. 

“Original Issue Discount Security” means any Security which provides for an amount less than the principal amount thereof to
be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

“Outstanding” means, when used with respect to Securities, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
  

	 	(1)	 Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

  

	 	(2)	 Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with
the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities; provided that, if such Securities are
to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 

  

	 	(3)	 Securities as to which Defeasance has been effected pursuant to Section 1302; 

 

	 	(4)	 Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other
Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona
fide purchaser in whose hands such Securities are valid obligations of the Company; and 

  

	 	(5)	 Securities as to which any property deliverable upon conversion thereof has been delivered (or such delivery
has been made available), or as to which any other particular conditions have been satisfied, in each case as may be provided for such Securities as contemplated in Section 301; 

provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or
taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount
of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 502, (B) if, as of such date, the principal amount payable at the Stated Maturity of a Security
is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 301, (C) the principal amount of a Security denominated in one or more
foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner provided as contemplated by Section 301, of the principal amount of
such Security (or, in the case of a Security described in clause (A) or (B) above, of the amount determined as provided in such clause), and (D) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of
the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent,
waiver or other action, only Securities which a Responsible Officer of the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to
the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 

“Paying Agent” means any Person authorized by the Company to pay the principal of or premium, if any, or interest on any
Securities on behalf of the Company. The Company initially authorizes and appoints the Trustee as the Paying Agent for each series of the Securities. 

  
 4 

 “Person” means any individual, corporation, partnership, limited liability
company, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof or any other entity. 

“Place of Payment” means, when used with respect to the Securities of any series, the place or places where the principal of
and premium, if any, and interest on the Securities of such series are payable as specified as contemplated by Section 301. 

“Predecessor Security” means, with respect to any particular Security, every previous Security evidencing all or a portion of
the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security
shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Redemption Date” means,
when used with respect to any Security to be redeemed, the date fixed for such redemption by or pursuant to this Indenture. 

“Redemption Price” means, when used with respect to any Security to be redeemed, the price at which it is to be redeemed
pursuant to this Indenture. 
 “Regular Record Date” means, for the interest payable on any Interest Payment Date on the
Securities of any series, the date specified for that purpose as contemplated by Section 301. 
 “Repayment Date”
means, with used with respect to a Security to be repaid at the option of a Holder, the date fixed for such repayment by or pursuant to this Indenture. 

“Responsible Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the
Trustee, including any vice president, assistant secretary, senior associate, associate, trust officer, or any other officer associated with the corporate trust department of the Trustee customarily performing functions similar to those performed by
any of the above designated officers who shall have direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such
person’s knowledge of and familiarity with the particular subject. 
 “Securities” has the meaning specified in the
first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 

“Securities Act” means the U.S. Securities Act of 1933 and any statute successor thereto, in each case as amended from time
to time. 
 “Security Register” and “Security Registrar” have the respective meanings specified in
Section 305. 
 “Senior Debt” means the principal of, and any premium and interest (including interest accruing on or
after the filing of any petition in bankruptcy or for reorganization relating to the Company, whether or not such claim for post-petition interest is allowed in such proceeding) on the Company’s Debt, whether incurred on, before or after the
date of this instrument, unless the instrument creating or evidencing such Debt or under which such Debt is outstanding provides that obligations by it are not superior in right of payment to the Securities. 

“Special Record Date” means, for the payment of any Defaulted Interest, a date fixed by the Trustee pursuant to
Section 307. 
 “Stated Maturity” means, when used with respect to any Security or any installment of principal
thereof or interest thereon, the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by
the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For purposes of this definition, “voting stock” means stock which ordinarily has voting power for the election of directors, whether at
all times or only so long as no senior class of stock has such voting power by reason of any contingency. 

  
 5 

 “Successor” has the meaning specified in Section 801. 

“Trust Indenture Act” means the U.S. Trust Indenture Act of 1939 as in force at the date as of which this Indenture was
executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so
amended. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture until a
successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such
Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 

“U.S. Government Obligation” has the meaning specified in Section 1304(1). 

“Vice President” means, when used with respect to the Company or the Trustee, any vice president, whether or not designated
by a number or a word or words added before or after the title “vice president.” 
 Section 102. Compliance Certificates and Opinions.

 Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall
furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such
counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to
such particular application or request, no additional certificate or opinion need be furnished by the Company. 
 Every certificate or
opinion with respect to compliance with a condition or covenant provided for in this Indenture (except for certificates provided for in Section 1004) shall include: 
  

	 	(1)	 a statement that each individual signing such certificate or opinion has read such covenant or condition and
the definitions herein relating thereto; 

  

	 	(2)	 a brief statement as to the nature and scope of the examination or investigation upon which the statements or
opinions contained in such certificate or opinion are based; 

  

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

  

	 	(4)	 a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied
with. 

 Section 103. Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any
certificate or opinion of an Officer (or any Person designated in writing by an Officer of the Company as authorized to execute and deliver the Securities) may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such Officer (or any such Person designated in writing by an Officer of the Company as authorized to execute and deliver the Securities) knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to the matters upon which such Officer’s (or such Person’s) certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it
relates to factual matters, upon a certificate or opinion of, or 

  
 6 

 
representations by, an Officer or Officers of the Company (or any Person or Persons designated in writing by an Officer of the Company as authorized to execute and deliver the Securities) stating
that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such
matters are erroneous. Counsel delivering an Opinion of Counsel may also rely as to factual matters on certificates of governmental or other officials customary for opinions of the type required. 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Section 104. Acts of Holders; Record
Dates. 
 Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture
to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly
provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of
this Indenture and, subject to Section 601, conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 104. 

The fact and date of the execution by any Person of any such instrument or writing may be proved in any manner which the Trustee reasonably
deems sufficient. Where such execution is by a Person acting in a capacity other than such Person’s individual capacity, such certificate or affidavit shall also constitute sufficient proof of such Person’s authority. The fact and date of
the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

The ownership of Securities shall be proved by the Security Register. 

Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future
Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in
reliance thereon, whether or not notation of such action is made upon such Security. 
 The Company may set any day as a record date for the
purpose of determining the Holders of Outstanding Securities of any series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given,
made or taken by Holders of Securities of such series; provided that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or
direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action,
whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of
Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph
(whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite
principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the
proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Sections 105 and 106. 

  
 7 

 The Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to institute proceedings referred to in
Section 507(2) or (iv) any direction referred to in Section 511, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such series on
such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder
unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a
new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in
this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant
to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company in writing and to each Holder of Securities of the
relevant series in the manner set forth in Sections 105 and 106. 
 With respect to any record date set pursuant to this Section 104,
the party hereto which sets such record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such change shall be effective
unless notice of the proposed new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 106, on or prior to the existing Expiration Date. If an
Expiration Date is not designated with respect to any record date set pursuant to this Section 104, the party hereto which set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration
Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. 
 Without limiting the
foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do
so pursuant to such appointment with regard to all or any part of such principal amount. 
 Section 105. Notices, Etc., to Trustee and Company.

 Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 
  

	 	(1)	 the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given,
furnished or filed in writing (which may be by facsimile) to or with the Trustee at its Corporate Trust Office at the location specified in Section 101; or 

 

	 	(2)	 the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise
herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to the attention of the Secretary of the Company at the address of the Company’s principal office specified in writing to the Trustee by
the Company and, until further notice, at CNB Financial Corporation, 1 South Second Street, P.O. Box 42, Clearfield, Pennsylvania 16830. 

In addition to the foregoing, the Trustee agrees to accept and act upon notice, instructions or directions pursuant to this Indenture sent by
unsecured e-mail, facsimile transmission or other similar unsecured electronic methods. If the party elects to give the Trustee e-mail or facsimile instructions (or
instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses,
costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party providing
electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and
the risk or interception and misuse by third parties. 

  
 8 

 Section 106. Notice to Holders; Waiver. 

Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at such Holder’s address as it appears in the Security Register, not later than the latest date, if any, and not earlier than the earliest
date, if any, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of
such notice with respect to other Holders. Any notice when mailed to a Holder in the aforesaid manner shall be conclusively deemed to have been received by such Holder whether or not actually received by such Holder. Where this Indenture provides
for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with
the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 In case
by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient
notification for every purpose hereunder. 
 Where this Indenture provides for notice of any event to a Holder of a Global Security, such
notice shall be sufficiently given if given to the Depositary for such Security (or its designee), pursuant to the Applicable Procedures of the Depositary, not later than the latest date, if any, and not earlier than the earliest date, if any,
prescribed for the giving of such notice. 
 Section 107. Conflict with Trust Indenture Act. 

If any provision of this Indenture limits, qualifies or conflicts with a provision of the Trust Indenture Act which is required under such Act
to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be
deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 
 Section 108. Effect of Headings and Table of
Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the
construction hereof. 
 Section 109. Successors and Assigns. 

All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. All
agreements of the Trustee in this Indenture shall bind its successors and assigns, whether so expressed or not. 
 Section 110. Separability
Clause. 
 In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 111. Benefits of
Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto
and their successors hereunder and the Holders and, with respect to the provisions of Article Fifteen, the holders of Senior Debt, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

  
 9 

 Section 112. Governing Law. 

This Indenture and the Securities shall be governed by, and construed in accordance with, the law of the State of New York. 

Section 113. Legal Holidays. 
 In any
case where any Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity of any Security, or any date on which a Holder has the right to convert such Holder’s Security, shall not be a Business Day at any Place of Payment, then
(notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically states that such provision shall apply in lieu of this Section 113)) payment of principal and premium, if
any, or interest, or the Redemption Price or conversion of such Security, shall not be made at such Place of Payment on such date, but shall be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if
made on the Interest Payment Date, Redemption Date or Repayment Date, or at the Stated Maturity, or on such conversion date. In the case, however, of Securities of a series bearing interest at a floating rate based on the London interbank offered
rate (LIBOR), if any Interest Payment Date (other than the Redemption Date, Repayment Date or Stated Maturity) would otherwise be a date that is not a Business Day, then the Interest Payment Date shall be postponed to the following date which is a
Business Day, unless that Business Day falls in the next succeeding calendar month, in which case the Interest Payment Date will be the Business Day immediately preceding the scheduled Interest Payment Date. No interest shall accrue for the period
from and after any such Interest Payment Date, Redemption Date, Repayment Date, Stated Maturity or conversion date, as the case may be, to the date of such payment. 

Section 114. No Recourse Against Others. 

No recourse shall be had for the payment of principal of, or premium, if any, or interest, if any, on any Security of any series, or for any
claim based thereon, or upon any obligation, covenant or agreement of this Indenture, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or any successor corporation of the Company, either
directly or indirectly through the Company or any successor corporation of the Company, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment of penalty or otherwise; it being expressly agreed and
understood that this Indenture and all the Securities of each series are solely corporate obligations, and that no personal liability whatsoever shall attach to, or is incurred by, any incorporator, shareholder, officer or director, past, present or
future, of the Company or of any successor corporation of the Company, either directly or indirectly through the Company or any successor corporation of the Company, because of the incurring of the indebtedness hereby authorized or under or by
reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the Securities of any series, or to be implied herefrom or therefrom; and that all such personal liability is hereby expressly released and waived as
a condition of, and as part of the consideration for, the execution of this Indenture and the issuance of the Securities of each series. 

Section 115. WAIVER OF JURY TRIAL. 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY
JURY IN ANY LEGAL PROCEEDING AS BETWEEN THE COMPANY AND THE TRUSTEE ONLY ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE SECURITIES. 

Section 116. Submission to Jurisdiction. 

The Company hereby irrevocably submits to the jurisdiction of any New York State court sitting in the Borough of Manhattan in the City of
New York or any federal court sitting in the Borough of Manhattan in the City of New York in respect of any suit, action or proceeding arising out of or relating to this Indenture and the Securities, and irrevocably accepts for itself and in respect
of its property, generally and unconditionally, jurisdiction of the aforesaid courts. 

  
 10 

 ARTICLE II 

SECURITY FORMS 
 Section 201. Forms
Generally. 
 The Securities of each series shall be in substantially such form or forms as shall be established by or pursuant to a
Board Resolution or, subject to Section 303, set forth in, or determined in the manner provided in, an Officer’s Certificate pursuant to a Board Resolution, or in one or more indentures supplemental hereto, in each case with such
appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be
required to comply with applicable tax laws or the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be determined by the Officer (or any Person designated in writing by an Officer of the Company as authorized
to execute and deliver the Securities) executing such Securities, as evidenced by his or her execution thereof. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of
such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such
Securities. If all of the Securities of any series established by action taken pursuant to a Board Resolution are not to be issued at one time, it shall not be necessary to deliver a record of such action at the time of issuance of each Security of
such series, but an appropriate record of such action shall be delivered at or before the time of issuance of the first Security of such series. 

The definitive Securities shall be printed, lithographed or engraved or may be produced in any other manner, all as determined by the Officer
(or any Person designated in writing by an Officer of the Company as authorized to execute and deliver the Securities) executing such Securities, as evidenced by his or her execution of such Securities. 

Section 202. Form of Legend for Global Securities. 

Unless otherwise specified as contemplated by Section 301 for the Securities evidenced thereby or as required by Applicable Procedures,
every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 
 [Insert, if
applicable — UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR
SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.] 

[Insert, if applicable — THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER
THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.] 

  
 11 

 Section 203. Form of Trustee’s Certificate of Authentication. 

The Trustee’s certificates of authentication shall be in substantially the following form: 

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

Dated: 
  

			
	 [    ],

    as Trustee

 
			
		
	By:	 	  

 
			
	Authorized Signatory

 ARTICLE III 

THE SECURITIES 
 Section 301.
Amount Unlimited; Issuable in Series. 
 The aggregate principal amount of Securities which may be authenticated and delivered under
this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to (a) a
Board Resolution or pursuant to authority granted by a Board Resolution and, subject to Section 303, set forth, or determined in the manner provided, in an Officer’s Certificate, or (b) one or more indentures supplemental hereto,
prior to the issuance of Securities of any series: 
  

	 	(1)	 the title of the Securities of the series (which shall distinguish the Securities of the series from Securities
of any other series); 

  

	 	(2)	 the limit, if any, on 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 304, Section 305,
Section 306, Section 906, Section 1107 or Section 1405 and except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); provided, however, that
the authorized aggregate principal amount of such series may from time to time be increased above such amount by a Board Resolution to such effect; 

  

	 	(3)	 the price or prices at which the Securities will be sold; 

 

	 	(4)	 the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose
name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 

  

	 	(5)	 the date or dates on which the principal and premium, if any, of any Securities of the series is payable or the
method used to determine or extend those dates; 

  

	 	(6)	 the rate or rates at which any Securities of the series shall bear interest, if any, or the method by which
such rate or rates shall be determined, the date or dates from which any such interest shall accrue, or the method by which such date or dates shall be determined, the Interest Payment Dates on which any such interest shall be payable and the
Regular Record Date, if any, for any such interest payable on any Interest Payment Date, or the method by which such date or dates shall be determined, and the basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30-day months, the right, if any, to extend or defer interest payments and the duration of such extension or deferral; 

 

	 	(7)	 the place or places where the principal of and any premium and interest on any Securities of the series shall
be payable, the place or places where the Securities of such series may be presented for registration of transfer or exchange, the place or places where notices and demands to or upon the Company in respect of the Securities of such series may be
made and the manner in which any payment may be made; 

  
 12 

	 	(8)	 the period or periods within which or the date or dates on which, the price or prices at which, the currency or
currency units in which, and the terms and conditions upon which any Securities of the series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which any election by the
Company to redeem the Securities shall be evidenced; 

  

	 	(9)	 the obligation or the right, if any, of the Company to redeem or purchase any Securities of the series pursuant
to any sinking fund, amortization or analogous provisions or at the option of the Holder thereof and the period or periods within which, the price or prices at which, the currency or currency units in which, and the terms and conditions upon which
any Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 

  

	 	(10)	 if other than denominations of $2,000 and any integral multiple of $1,000 in excess thereof, the denominations
in which any Securities of the series shall be issuable; 

  

	 	(11)	 if other than the Trustee, the identity of each Security Registrar and/or Paying Agent; 

 

	 	(12)	 if the amount of principal of or premium, if any, or interest on any Securities of the series may be determined
with reference to a financial or economic measure or index or pursuant to a formula, the manner in which such amounts shall be determined; 

  

	 	(13)	 if other than the currency of the United States of America, the currency, currencies or currency units in which
the principal of or premium, if any, or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any purpose, including for purposes of the
definition of “Outstanding” in Section 101; 

  

	 	(14)	 if the principal of or premium, if any, or interest on any Securities of the series is to be payable, at the
election of the Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies or currency units in which the principal of or premium,
if any, or interest on such Securities as to which such election is made shall be payable, the periods within which or the dates on which and the terms and conditions upon which such election is to be made and the amount so payable (or the manner in
which such amount shall be determined); 

  

	 	(15)	 if the provisions of Section 401 relating to the satisfaction and discharge of this Indenture shall apply
to the Securities of that series; or if provisions for the satisfaction and discharge of this Indenture other than as set forth in Section 401 shall apply to the Securities of that series; 

 

	 	(16)	 if other than the entire principal amount thereof, the portion of the principal amount of any Securities of the
series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502 or the method by which such portion shall be determined; 

 

	 	(17)	 if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable
as of any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall
be due and payable upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall
be determined); 

  

	 	(18)	 if other than by a Board Resolution, the manner in which any election by the Company to defease any Securities
of the series pursuant to Section 1302 or Section 1303 shall be evidenced; whether any Securities of the series other than Securities denominated in U.S. dollars and bearing interest at a fixed rate are to be subject to Section 1302
or Section 1303; or, in the case of Securities denominated in U.S. dollars and bearing interest at a fixed rate, if applicable, that the Securities of the series, in whole or any specified part, shall not be defeasible pursuant to
Section 1302 or Section 1303 or both such Sections; 

  

	 	(19)	 if applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or
more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 202 and
any circumstances in addition to or in lieu of those set forth in clause (2) of the last paragraph of Section 305 in which any such Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such
Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof; 

  
 13 

	 	(20)	 any addition to, deletion from 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 502; 

 

	 	(21)	 any addition to, deletion from or change in the covenants set forth in Article X which applies to Securities of
the series; 

  

	 	(22)	 the terms of any right to convert or exchange Securities of such series into any other securities or property
of the Company or of any other corporation or Person, and the additions or changes, if any, to this Indenture with respect to the Securities of such series to permit or facilitate such conversion or exchange; 

 

	 	(23)	 whether the Securities of the series will be guaranteed by any Person or Persons and, if so, the identity of
such Person or Persons, the terms and conditions upon which such Securities shall be guaranteed and, if applicable, the terms and conditions upon which such guarantees may be subordinated to other indebtedness of the respective guarantors;

  

	 	(24)	 whether the Securities of the series will be secured by any collateral and, if so, the terms and conditions
upon which such Securities shall be secured and, if applicable, upon which such liens may be subordinated to other liens securing other indebtedness of the Company or any guarantor; 

 

	 	(25)	 whether the Securities will be issued in a transaction registered under the Securities Act and any restriction
or condition on the transferability of the Securities of such series; 

  

	 	(26)	 the exchanges, if any, on which the Securities may be listed; and 

 

	 	(27)	 any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture,
except as permitted by Section 901). 

 All Securities of any one series shall be substantially identical except as
to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above or pursuant to authority granted by one or more Board Resolutions and, subject to Section 303, set forth, or determined in the
manner provided, in the Officer’s Certificate referred to above or in any such indenture supplemental hereto. All Securities of any one series need not be issued at one time and, unless otherwise provided in or pursuant to the Board Resolution
referred to above and, subject to Section 303, set forth, or determined in the manner provided, in the Officer’s Certificate referred to above or pursuant to authority granted by one or more Board Resolutions or in any such indenture
supplemental hereto with respect to a series of Securities, additional Securities of a series may be issued, at the option of the Company, without the consent of any Holder, at any time and from time to time. 

If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such
action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting forth the terms of the series. 

Section 302. Denominations. 
 The
Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be specified as contemplated by Section 301. In the absence of any such specified denomination with respect to the
Securities of any series, the Securities of such series shall be issuable in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

Section 303. Execution, Authentication, Delivery and Dating. 

The Securities shall be executed on behalf of the Company by an Officer of the Company (or any Person designated in writing by an Officer of
the Company as authorized to execute and deliver the Securities). The signature of any of these officers on the Securities may be manual or facsimile. 

Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the
Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

  
 14 

 At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with an Officer’s Certificate and a Company Order for the authentication and delivery of such Securities, and the Trustee in
accordance with the Company Order shall authenticate and deliver such Securities. If the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions or pursuant to authority granted by one or
more Board Resolutions as permitted by Section 201 and Section 301, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be provided with,
and, subject to Section 601, shall be fully protected in relying upon, an Opinion of Counsel stating, 
  

	 	(1)	 if the form of such Securities has been established by or pursuant to Board Resolution or pursuant to authority
granted by one or more Board Resolutions as permitted by Section 201, that such form has been established in conformity with the provisions of this Indenture; 

 

	 	(2)	 if the terms of such Securities have been established by or pursuant to Board Resolution or pursuant to
authority granted by one or more Board Resolutions as permitted by Section 301, that such terms have been established in conformity with the provisions of this Indenture; and 

 

	 	(3)	 that such Securities, when authenticated by the Trustee and issued and delivered by the Company in the manner
and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to (i) the effects of bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, (ii) general equitable principles and (iii) an implied covenant of good faith and fair dealing.

 If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if
the issue of such Securities pursuant to this Indenture will materially adversely affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the
Trustee. 
 Notwithstanding the provisions of Section 301 and of the preceding paragraph of this Section 303, if all Securities of
a series are not to be originally issued at one time, including in the event that the aggregate principal amount of a series of Outstanding Securities is increased as contemplated by Section 301, it shall not be necessary to deliver the
Officer’s Certificate, Board Resolution or supplemental indenture otherwise required pursuant to Section 301 or the Company Order and Opinion of Counsel otherwise required pursuant to this Section 303 at or prior to the authentication
of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 

Each Security shall be dated the date of its authentication. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has
been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the
Trustee for cancellation as provided in Section 309, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

Section 304. Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and, upon Company Order, the Trustee shall
authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities of such series in lieu of which
they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as evidenced by their execution of such Securities. 

  
 15 

 If temporary Securities of any series are issued, the Company will cause definitive
Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender
of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for such series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company
shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the
temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 

Section 305. Registration, Registration of Transfer and Exchange. 

The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office and in any
other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide
for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 

Upon surrender for registration of transfer of any Security of a series at the office or agency of the Company in a Place of Payment for such
series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of like tenor and
principal amount. 
 At the option of the Holder, Securities of any series may be exchanged for other Securities of the same series, of any
authorized denominations and of like tenor and principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 
 All Securities issued upon any
registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or
exchange. 
 Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or
the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or such Holder’s attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, Section 906, Section 1107 or
Section 1405 not involving any transfer. 
 If the Securities of any series (or of any series and specified tenor) are to be redeemed
in part, the Company shall not be required (A) to issue, register the transfer of or exchange any Securities of such series (or of such series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days
before the day of the mailing of a notice of redemption of any such Securities selected for redemption under Section 1103 and ending at the close of business on the day of such mailing, or (B) to register the transfer of or exchange any
Security so selected for redemption, in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

  
 16 

 The provisions of clauses (1), (2), (3) and (4) of this paragraph shall apply only to
Global Securities: 
  

	 	(1)	 Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary
designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture.

  

	 	(2)	 Notwithstanding any other provision in this Indenture, and subject to such applicable provisions, if any, as
may be specified as contemplated by Section 301, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than
the Depositary for such Global Security or a nominee thereof unless (A) such Depositary has notified the Company that it is unwilling or unable or no longer permitted under applicable law to continue as Depositary for such Global Security,
(B) there shall have occurred and be continuing an Event of Default with respect to such Global Security, (C) the Company so directs the Trustee by a Company Order or (D) there shall exist such circumstances, if any, in addition to or
in lieu of the foregoing as have been specified for this purpose as contemplated by Section 301. 

  

	 	(3)	 Subject to clause (2) above, and subject to such applicable provisions, if any, as may be specified as
contemplated by Section 301, any exchange of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in such names as the
Depositary for such Global Security shall direct. 

  

	 	(4)	 Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of,
a Global Security or any portion thereof, whether pursuant to this Section 305, Section 304, Section 306, Section 906, Section 1107 or Section 1405 or otherwise, shall be authenticated and delivered in the form of, and
shall be, a Global Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Depositary participants or beneficial owners of interests in any Global Security) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with
the express requirements hereof. 
 Neither the Trustee nor any agent of the Trustee shall have any responsibility for any actions taken or
not taken by the Depositary. 
 Section 306. Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding and shall cancel and dispose of such mutilated security in accordance with its customary procedures. 

If there shall be delivered to the Company and the Trustee (1) evidence to their satisfaction of the destruction, loss or theft of any
Security and (2) 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 the Trustee shall authenticate and deliver, 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 306, 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 counsel to the
Company and the fees and expenses of the Trustee and its counsel) connected therewith. 

  
 17 

 Every new Security of any series issued pursuant to this Section 306 in lieu of any
mutilated, destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the mutilated, 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 such series duly issued hereunder. 

The provisions of this Section 306 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 307. Payment of Interest; Interest Rights Preserved.

 Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Security which
is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date
for such interest. 
 Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any
Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the
Company, at its election in each case, as provided in clause (1) or (2) below: 
  

	 	(1)	 The Company may elect to make payment of any Defaulted Interest payable on Securities of a series to the
Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following
manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an
amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to
be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee in consultation with the Company shall fix a Special Record Date for the payment of such Defaulted Interest which
shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of
such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the
manner set forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be
paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2).

  

	 	(2)	 The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful
manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment
pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

 Subject to the foregoing
provisions of this Section 307, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were
carried by such other Security. 
 In the case of any Security which is converted after any Regular Record Date and on or prior to the next
succeeding Interest Payment Date (other than any Security whose Maturity is prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such
conversion, and such interest (whether or not punctually paid or made available for payment) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the

  
 18 

 
close of business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated
Maturity is after the date of conversion of such Security shall not be payable. Notwithstanding the foregoing, the terms of any Security that may be converted may provide that the provisions of this paragraph do not apply, or apply with such
additions, changes or omissions as may be provided thereby, to such Security. 
 Section 308. Persons Deemed Owners. 

Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and premium, if any, and, subject to Section 307, any interest on such Security and for all other
purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

Section 309. Cancellation. 
 All
Securities surrendered for payment, redemption, registration of transfer or exchange or conversion or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be
promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the
Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No
Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section 309, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of in
accordance with its customary procedures. The Trustee shall provide the Company a list of all Securities that have been cancelled from time to time as requested by the Company. 

Section 310. Computation of Interest. 

Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall
be computed on the basis of a 360-day year of twelve 30-day months. 

Section 311. CUSIP Numbers. 
 The
Company in issuing any series of the Securities may use “CUSIP” or “ISIN” numbers and/or other similar numbers, if then generally in use, and thereafter with respect to such series, the Trustee may use such numbers in any notice
of redemption with respect to such series; 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 of such series or as contained in any notice of a
redemption and that reliance may be placed only on the other identification numbers printed on the Securities of such series, and any such redemption shall not be affected by any defect in or omission of such numbers. 

Section 312. Original Issue Discount. 

If any of the Securities is an Original Issue Discount Security, the Company shall file with the Trustee promptly at the end of each calendar
year (1) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on such Outstanding Original Issue Discount Securities as of the end of such year and (2) such other specific
information relating to such original issue discount as may then be relevant under the Internal Revenue Code. 

  
 19 

 ARTICLE IV 

SATISFACTION AND DISCHARGE 

Section 401. Satisfaction and Discharge of Indenture. 

This Indenture shall, upon Company Request, cease to be of further effect with respect to any series of Securities specified in such Company
Request (except as to any surviving rights of registration of transfer or exchange of Securities of such series herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture as to such series, when: 
  

	 	(1)	 either 

  

	 	(A)	 all Securities of such series theretofore authenticated and delivered (other than (i) Securities which
have been mutilated, destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the
Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 

 

	 	(B)	 all such Securities of such series not theretofore delivered to the Trustee for cancellation

  

	 	(i)	 have become due and payable, or 

 

	 	(ii)	 will become due and payable at their Stated Maturity within one year of the date of deposit, or

  

	 	(iii)	 are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving
of notice of redemption by the Trustee in the name, and at the expense, of the Company, 

 and the Company, in the case of
(i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered
to the Trustee for cancellation, for principal and premium, if any, and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

 

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

  

	 	(3)	 the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture as to such series have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607 and, if
money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section 401, the obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive such
satisfaction and discharge. 
 Section 402. Application of Trust Money. 

Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall
be held in trust and applied by it, in accordance with the provisions of the applicable series of Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as
the Trustee may determine, to the Persons entitled thereto, of the principal and premium, if any, and interest for whose payment such money has been deposited with the Trustee. All money deposited with the Trustee pursuant to Section 401 (and
held by it or any Paying Agent) for the payment of Securities subsequently converted into other property shall be returned to the Company upon Company Request. The Company may direct by a Company Order the investment of any money deposited with the
Trustee pursuant to Section 401, without distinction between principal and income, in (1) United States Treasury securities with a maturity of one year or less or (2) a money market fund that invests solely in short-term United States
Treasury securities (including money market funds for which the Trustee or an affiliate of the Trustee serves as investment advisor, administrator, shareholder, servicing agent and/or custodian or
sub-custodian, notwithstanding that (a) the Trustee charges and collects fees and expenses from such funds for services rendered and (b) the Trustee charges and collects fees and expenses for
services rendered pursuant to this Indenture at any time) and from time to time the Company may direct the reinvestment of all or a portion of such money in other securities or funds meeting the criteria specified in clause (1) or (2) of this
Section 402. 

  
 20 

 ARTICLE V 

REMEDIES 
 Section 501. Events of
Default. 
 Except as may be otherwise provided pursuant to Section 301 for Securities of any series, an “Event of
Default” means, whenever used herein or in a Security issued hereunder with respect to Securities of any series, any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary
or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(1) the Company defaults in the payment of any installment of interest on any Security of such series for 30 days after
becoming due; 
 (2) the Company defaults in the payment of the principal of or premium, if any, on any Security of such
series when the same becomes due and payable at its Stated Maturity, upon optional redemption, upon declaration or otherwise; 

(3) the Company defaults in the performance of, or breaches any of its covenants and agreements in respect of any Security of
such series contained in this Indenture or in the Securities of such series (other than a covenant or agreement, a default in the performance of which or a breach of which is elsewhere in this Section specifically dealt with or that has expressly
been included in this Indenture solely for the benefit of a series of Securities other than that series), and such default or breach continues for a period of 90 days after the notice specified below; 

(4) the Company, pursuant to or within the meaning of the Bankruptcy Law (as defined below): 

(A) commences a voluntary case or proceeding; 

(B) consents to the entry of an order for relief against it in an involuntary case or proceeding; 

(C) consents to the appointment of a Custodian (as defined below) of it or for all or substantially all of its property; 

(D) makes a general assignment for the benefit of its creditors; 

(E) files a petition in bankruptcy or answer or consent seeking reorganization or relief; 

(F) consents to the filing of such petition or the appointment of or taking possession by a Custodian; or 

(G) takes any comparable action under any foreign laws relating to insolvency; 

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

(A) is for relief against the Company in an involuntary case, or adjudicates the Company insolvent or bankrupt; 

(B) appoints a Custodian of the Company or for all or substantially all of the property of the Company; or 

(C) orders the winding-up or liquidation of the Company (or any similar relief is
granted under any foreign laws) 
 and the order or decree remains unstayed and in effect for 90 days; or 

(6) any other Event of Default provided with respect to Securities of such series occurs. 

The term “Bankruptcy Law” means Title 11, United States Code, or any similar federal or state or foreign law for the relief
of debtors. The term “Custodian” means any custodian, receiver, trustee, assignee, liquidator or other similar official under any Bankruptcy Law. 

  
 21 

 A Default with respect to Securities of any series under clause (3) of this
Section 501 shall not be an Event of Default until the Trustee (by written notice to the Company) or the Holders of at least 25% in aggregate principal amount of the outstanding Securities of such series (by written notice to the Company and
the Trustee) gives notice of the Default and the Company does not cure such Default within the time specified in clause (3) after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state that such
notice is a “Notice of Default.” 
 Section 502. Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect to Securities of any series at the time Outstanding (other than an Event of Default specified in
Section 501(4) or (5) with respect to the Company) occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series may declare the
principal amount of all the Securities of such series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof), together with any
accrued and unpaid interest thereon, 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 specified amount), together with any
accrued and unpaid interest thereon, shall become immediately due and payable. If an Event of Default specified in Section 501(4) or (5) with respect to the Securities of any series at the time Outstanding occurs, the principal amount of
all the Securities of such series (or, in the case of any Security of such series which specifies an amount to be due and payable thereon upon acceleration of the Maturity thereof, such amount as may be specified by the terms thereof), together with
any accrued and unpaid interest thereon, shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. Upon payment of such amount, all obligations of the Company in
respect of the payment of principal and interest of the Securities of such series shall terminate. 
 Except as may otherwise be provided
pursuant to Section 301 for all or any specific Securities of any series, at any time after such a declaration of acceleration with respect to the Securities of 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 V provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, by written notice to the Company and the Trustee, may rescind and
annul such declaration and its consequences if: 
  

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

 

	 	(A)	 all overdue interest on all Securities of such series, 

 

	 	(B)	 the principal of and premium, if any, on any Securities of such series which have become due otherwise than by
such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in the Securities of such series, 

  

	 	(C)	 to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates
prescribed therefor in such Securities, and 

  

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

  

	 	(2)	 all Events of Default with respect to Securities of such series, other than the
non-payment of the principal of Securities of such series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 512. 

No such rescission shall affect any subsequent default or impair any right consequent thereon. 

Section 503. Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if (1) default is made in the payment of any interest on any Security when such interest becomes due and
payable and such default continues for a period of 30 days or (2) default is made in the payment of the principal of or premium, if any, on any Security at the Maturity thereof, 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 premium, if any, and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any
overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

  
 22 

 If an Event of Default with respect to 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 necessary to protect and enforce any such
rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

Section 504. Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the
Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In
particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due it and any predecessor Trustee under Section 607. 
 No provision of this Indenture shall be deemed to authorize the
Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or
other similar committee. 
 Section 505. Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of
any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, any predecessor Trustee under Section 607, 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 506. Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article V 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 premium, if any, or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid: 
 FIRST: To the payment of all amounts due the Trustee under Section 607; 

SECOND: To the payment of the amounts then due and unpaid for principal of and premium, if any, 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 (other than contractual subordination agreements pursuant to the Indenture), according to the amounts due and payable
on such Securities for principal and premium, if any, and interest, respectively; and 
 THIRD: To the payment of the
remainder, if any, to the Company. 

  
 23 

 Section 507. 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, assignee, trustee, liquidator or sequestrator (or similar official) or for any other remedy hereunder, unless: 
  

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

  

	 	(2)	 the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series
shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

  

	 	(3)	 such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to it against the costs,
expenses and liabilities to be incurred in compliance with such request; 

  

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

  

	 	(5)	 no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the Outstanding Securities of such 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 (it being understood that the Trustee does not have an
affirmative duty to ascertain whether or not such actions are unduly prejudicial to such Holders) or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

Section 508. Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Securities. 

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 premium, if any, and, subject to Section 307, interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption or repayment, on the Redemption Date
or date for repayment, as the case may be, and, if the terms of such Security so provide, to convert such Security in accordance with its terms) and to institute suit for the enforcement of any such payment and, if applicable, any such right to
convert, and such rights shall not be impaired without the consent of such Holder. 
 Section 509. Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
 Section 510. 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 V 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. 

  
 24 

 Section 511. Control by Holders. 

The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to
direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series; provided that 

 

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

 

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

 Section 512. Waiver of Past Defaults. 

The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series may on behalf of the Holders
of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default 
  

	 	(1)	 in the payment of the principal of or premium, if any, or interest on any Security of such series, or

  

	 	(2)	 in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the
consent of the Holder of each Outstanding Security 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 513. Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered
or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess reasonable costs against any such party litigant, in the manner and to the extent provided in the
Trust Indenture Act; provided that neither this Section 513 nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company or the
Trustee, a suit by a Holder under Section 508, or a suit by Holders of more than 10% in aggregate principal amount of the Outstanding Securities. 

Section 514. Waiver of Usury, Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that
it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted. 
 Section 515. 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. 

  
 25 

 ARTICLE VI 

THE TRUSTEE 
 Section 601. Certain
Duties and Responsibilities of Trustee. 
  

	 	(1)	 Except during the continuance of an Event of Default with respect to any series of Securities,

  

	 	(A)	 the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this
Indenture with respect to the Securities of such series, and no implied covenants or obligations shall be read into this Indenture against the Trustee with respect to such series; and 

 

	 	(B)	 in the absence of bad faith on its part, the Trustee may rely with respect to the Securities of such series, as
to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions
which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or
investigate the accuracy of mathematical calculations or other facts stated therein). 

  

	 	(2)	 In case an Event of Default with respect to any series of Securities has occurred and is continuing, the
Trustee shall exercise such of the rights and powers vested in it by this Indenture with respect to the Securities of such series, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the
circumstances in the conduct of his or her own affairs. 

  

	 	(3)	 No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent
action, its own negligent failure to act, or its own willful misconduct, except that: 

  

	 	(A)	 this Section 601(3) shall not be construed to limit the effect of Section 601(1);

  

	 	(B)	 the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless
it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

  

	 	(C)	 the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in
accordance with the direction of the Holders of a majority in aggregate principal amount of the Outstanding Securities of any series, determined as provided in Section 101, Section 104 and Section 511, 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; and 

 

	 	(D)	 no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or
liability is not reasonably assured to it. 

  

	 	(4)	 Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or
affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 601. 

Section 602. Notice of Defaults. 
 If
a Default or an Event of Default occurs with respect to Securities of any series and is continuing and if it is actually known to the Trustee, the Trustee shall mail to each Holder of Securities of such series notice of the Default within 90 days
after it is known to a Responsible Officer or written notice of it is received by a Responsible Officer of the Trustee. Except in the case of a Default in payment of principal of or interest on any Security, the Trustee may withhold the notice if
and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is not opposed to the interests of Holders of Securities of such series. 

Section 603. Certain Rights of Trustee. 

Subject to the provisions of Section 601: 
  

	 	(1)	 the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or
presented by the proper party or parties; 

  
 26 

	 	(2)	 if so requested by the Trustee, any request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order, and any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution; 

  

	 	(3)	 whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or
established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officer’s Certificate;

  

	 	(4)	 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 in good faith and in reliance thereon; 

 

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

  

	 	(6)	 the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or
attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation; 

  

	 	(7)	 the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly
or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

 

	 	(8)	 the rights, privileges, protections, immunities and benefits given to the Trustee, including, without
limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder and to its agents; 

  

	 	(9)	 the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and
reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 

  

	 	(10)	 in no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage
of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; 

 

	 	(11)	 in no event shall the Trustee be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services (it being understood that the Trustee shall use reasonable efforts which are consistent with accepted
practices in the banking industry to avoid and mitigate the effects of such occurrences and to resume performance as soon as practicable under the circumstances); 

 

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

  

	 	(13)	 The Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or
titles of officers authorized at such time to take specified actions pursuant to this Indenture. 

  
 27 

 Section 604. Not Responsible for Recitals or Issuance of Securities. 

The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements
of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or
application by the Company of Securities or the proceeds thereof. 
 Section 605. May Hold Securities. 

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

Section 606. Money Held in Trust. 

Money held by the Trustee in trust hereunder shall, until used or applied as herein provided, be held in trust for the purposes for which they
were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 

Section 607. Compensation and Reimbursement. 

The Company agrees 
  

	 	(1)	 to pay to the Trustee from time to time such reasonable compensation as shall be agreed to in writing between
the Company and the Trustee for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

 

	 	(2)	 except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable
expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel), except any such
expense, disbursement or advance as shall have been caused by its negligence or willful misconduct, and the Trustee shall provide the Company reasonable notice of any expenditure not in the ordinary course of business; and 

 

	 	(3)	 to indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without
negligence or willful misconduct on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties hereunder. 

 The Trustee shall notify the
Company promptly of any claim for which it may seek indemnity. 
 When the Trustee incurs expenses or renders services in connection with an
Event of Default specified in Section 501(4) or (5), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable
federal or state bankruptcy, insolvency or other similar law. 
 The Trustee shall have a lien prior to the Securities as to all property
and funds held by it hereunder for any amount owing it or any predecessor Trustee pursuant to this Section 607, except with respect to funds held in trust for the benefit of the Holders of Securities. 

The provisions of this Section 607 shall survive the termination of this Indenture and the resignation or removal of the Trustee. 

  
 28 

 Section 608. Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate
such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. 

To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a
trustee under this Indenture with respect to Securities of more than one series. 
 Section 609. Corporate Trustee Required; Eligibility. 

There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder
for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of at least $50,000,000 and has its Corporate Trust Office in the
Borough of Manhattan, The City of New York or any other major city in the United States that is acceptable to the Company. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising
or examining authority, then for the purposes of this Section 609 and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its
most recent annual report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section 609, it shall resign immediately in the
manner and with the effect hereinafter specified in this Article VI. 
 Section 610. Resignation and Removal; Appointment of Successor. 

No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 
 The Trustee may
resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee
within 30 days after the giving of such notice of resignation, the resigning Trustee, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
series. 
 The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in
aggregate principal amount of the Outstanding Securities of such series, upon written notice delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been
delivered to the Trustee within 30 days after the giving of such notice of removal, the Trustee being removed, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to
the Securities of such series. 
 If at any time: 
  

	 	(1)	 the Trustee shall fail to comply with Section 608 after written request therefor by the Company or by any
Holder who has been a bona fide Holder of a Security for at least six months, or 

  

	 	(2)	 the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request
therefor by the Company or by any such Holder, or 

  

	 	(3)	 the Trustee shall become incapable of acting or shall be adjudged bankrupt or insolvent or a receiver of the
Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

then, in any such case, (A) the Company may remove the Trustee with respect to all Securities or (B) subject to Section 513, Holders of 10% in
aggregate principal amount of Securities of any series who have been bona fide Holders of such Securities for at least six months may, on behalf of themselves and all others similarly situated, petition any court of competent jurisdiction for
the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 

  
 29 

 If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall
occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that
any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the
applicable requirements of Section 611. If a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series
delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611, become the successor Trustee with
respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and
accepted appointment in the manner required by Section 611, Holders of 10% in aggregate principal amount of Securities of any series who have been bona fide Holders of Securities of such series for at least six months may, on behalf of
themselves and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each
appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 106. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office. 
 Section 611. Acceptance of Appointment by Successor. 

In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall
execute, acknowledge and deliver to the Company and to the retiring Trustee a written instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without
any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee, but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges,
execute and deliver a written instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such
retiring Trustee hereunder. 
 In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more
(but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such
appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable
to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and
(3) shall 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, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts
hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates. 
 Upon request of any such successor
Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may
be. 

  
 30 

 No successor Trustee shall accept its appointment unless at the time of such acceptance such
successor Trustee shall be qualified and eligible under this Article VI. 
 Section 612. Merger, Conversion, Consolidation or Succession to
Business. 
 Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder;
provided that such corporation shall be otherwise qualified and eligible under this Article VI, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion, consolidation or sale to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such Securities; and in case at that time any Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor
hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 

Section 613. Preferential Collection of Claims Against Company. 

If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject
to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor) 
 Section 614.
Appointment of Authenticating Agent. 
 The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series
of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original issue and upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 306,
and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication
and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of
America, any state thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by federal or state
authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section 614, the combined capital and
surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section 614, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section 614. 

Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all of the corporate agency or corporate trust business of an Authenticating Agent
shall be the successor Authenticating Agent hereunder, provided such corporation shall be otherwise eligible under this Section 614, without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company.
The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such

  
 31 

 
a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 614, the Trustee may appoint a successor
Authenticating Agent which shall be acceptable to the Company and shall give notice of such appointment in the manner provided in Section 106 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve.
Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section 614. 
 The Company agrees to pay to each
Authenticating Agent from time to time reasonable compensation for its services under this Section 614. 
 If an appointment with
respect to one or more series is made pursuant to this Section 614, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the
following form: 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

							
	Dated: __________________	 		 		 	[         ]
		 		 		 	As Trustee
				
		 		 	By:	 	  

		 		 		 	  
 ,

		 		 		 	As Authenticating Agent
				
		 		 	By:	 	  

		 		 		 	Authorized Officer

 ARTICLE VII 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE 

AND COMPANY 
 Section 701. Company
to Furnish Trustee Names and Addresses of Holders. 
 If the Trustee is not the Security Registrar, the Company shall cause the Security
Registrar to furnish to the Trustee, in writing at least five Business 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 Holders of Securities of each series. 
 Section 702. Preservation of Information; Communications to
Holders. 
 The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained
in the most recent list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in
Section 701 upon receipt of a new list so furnished. 
 The rights of Holders to communicate with other Holders with respect to their
rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

  
 32 

 Section 703. Reports by Trustee. 

Within 60 days after each [            ], beginning in
[        ], the Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act. The Trustee shall promptly
deliver to the Company a copy of any report it delivers to Holders pursuant to this Section 703. 
 A copy of each such report shall,
at the time of such transmission to Holders, be filed by the Trustee with each stock exchange and automated quotation system, if any, upon which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee
when any Securities are listed on any stock exchange or automated quotation system or delisted therefrom. 
 Section 704. Reports by Company.

 The Company shall file with the Trustee, and transmit to the Holders, such information, documents and other reports, and such summaries
thereof, as may be required pursuant to the Trust Indenture Act. Delivery of such reports, information and documents to the Trustee is for informational purposes only and shall not constitute a representation or warranty as to the accuracy or
completeness of the reports, information and documents. All required reports, information and documents referred to in this Section 704 shall be deemed filed with the Trustee and transmitted to the Holders at the time such reports, information
or documents are publicly filed with the Commission via the Commission’s EDGAR filing system (or any successor system). For purposes of clarification, the foregoing sentence does not impose on the Trustee any duty to search for or obtain any
electronic or other filings that the Company makes with the Commission, regardless of whether such filings are periodic, supplemental or otherwise. 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 Officer’s Certificates). 

ARTICLE VIII 

CONSOLIDATION, MERGER 

AND SALE OF ASSETS 
 Section 801.
Company May Merge or Transfer Assets Only on Certain Terms. 
 The Company shall not consolidate with or merge with or into, or sell,
transfer, lease or convey all or substantially all of its properties and assets to, in one transaction or a series of related transactions, any other Person, unless: 
  

	 	(1)	 the Company shall be the continuing entity, or the resulting, surviving or transferee Person (the
“Successor”) shall be a Person (if such Person is not a corporation, then the Successor shall include a corporate co-issuer of the Securities) organized and existing under the laws of the
United States of America, any State thereof or the District of Columbia and the Successor (if not the Company) shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the
Trustee, all the obligations of the Company under the Securities and this Indenture and, for each Security that by its terms provides for conversion, shall have provided for the right to convert such Security in accordance with its terms;

  

	 	(2)	 immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be
continuing; and 

  

	 	(3)	 the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each
stating that such transaction and such supplemental indenture, if any, complies with this Indenture (except that such Opinion of Counsel need not opine as to clause (2) above). 

  
 33 

 Section 802. Successor Corporation Substituted. 

The Successor shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture, with the
same effect as if the Successor had been an original party to this Indenture, and the Company shall be released from all its liabilities and obligations under this Indenture and the Securities. 

ARTICLE IX 
 SUPPLEMENTAL
INDENTURES 
 Section 901. Supplemental Indentures Without Consent of Holders. 

Without the consent of any Holders, the Company and the Trustee, at any time and from time to time, may enter into one or more indentures
supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
  

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

  

	 	(2)	 to evidence the succession of another Person to the Company, or successive successions, and the assumption by
the successor corporation of the covenants, agreements and obligations of the Company pursuant to Article VIII; 

  

	 	(3)	 to add any additional Events of Default for the benefit of the Holders of all or any series of Securities (and
if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such series); 

 

	 	(4)	 to add one or more guarantees for the benefit of Holders of the Securities; 

 

	 	(5)	 to secure the Securities; 

 

	 	(6)	 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, pursuant to the requirements of
Section 611; 

  

	 	(7)	 subject to any limitations established pursuant to Section 301, to provide for the issuance of additional
Securities of any series; 

  

	 	(8)	 to establish the form or terms of Securities of any series as permitted by Section 201 and
Section 301; 

  

	 	(9)	 to comply with the rules of any applicable Depositary; 

 

	 	(10)	 to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or
facilitate the issuance of Securities in uncertificated form; 

  

	 	(11)	 to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of
Securities; provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision
nor (ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no Security described in clause (A)(i) Outstanding; 

 

	 	(12)	 to cure any ambiguity, to correct or supplement any provision of this Indenture which may be defective or
inconsistent with any other provision herein; 

  

	 	(13)	 to change any other provision under this Indenture; provided that such action pursuant to this clause
(13) shall not adversely affect the interests of the Holders of Securities of any series in any material respect; 

  
 34 

	 	(14)	 to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or
facilitate the defeasance and discharge of any series of Securities pursuant to Section 401, Section 1302 and Section 1303; provided that any such action shall not adversely affect the interests of the Holders of Securities of such
series or any other series of Securities in any material respect; 

  

	 	(15)	 to comply with the rules or regulations of any securities exchange or automated quotation system on which any
of the Securities may be listed or traded; and 

  

	 	(16)	 to add to, change or eliminate any of the provisions of this Indenture as shall be necessary or desirable in
accordance with any amendments to the Trust Indenture Act, provided that such action does not adversely affect the rights or interests of any Holder of Securities in any material respect. 

Section 902. Supplemental Indentures With Consent of Holders. 

With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of each series affected
by such supplemental indenture (including consents obtained in connection with a tender offer or exchange for Securities), by Act of said Holders delivered to the Company and the Trustee, the Company and the Trustee may enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under
this Indenture; provided, however, no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security of such series affected thereby: 

 

	 	(1)	 change the Stated Maturity of the principal of, or any installment of principal of or interest on, any
Security; 

  

	 	(2)	 reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount
Security or any other Security which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or reduce the rate of interest on any Security; 

 

	 	(3)	 reduce any premium payable upon the redemption of or change the date on which any Security may or must be
redeemed; 

  

	 	(4)	 change the coin or currency in which the principal of or premium, if any, or interest on any Security is
payable; 

  

	 	(5)	 impair the right of any Holder to institute suit for the enforcement of any such payment on or after the Stated
Maturity thereof (or, in the case of redemption, on or after the Redemption Date); 

  

	 	(6)	 reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose
Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this
Indenture; 

  

	 	(7)	 modify any of the provisions of this Section 902, Section 512 or Section 1005, except to
increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this
clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section 902 and Section 1005, or the deletion of this proviso, in
accordance with the requirements of Section 611 and Section 901(6); or 

  

	 	(8)	 if the Securities of any series are convertible into or for any other securities or property of the Company,
make any change that adversely affects in any material respect the right to convert any Security of such series (except as permitted by Section 901) or decrease the conversion rate or increase the conversion price of any such Security of such
series, unless such decrease or increase is permitted by the terms of such Security. 

 A supplemental indenture which
changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series
with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 

  
 35 

 It shall not be necessary for any Act of Holders under this Section 902 to approve the
particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 After
a supplemental indenture under this Section 902 becomes effective, the Company shall mail to the Trustee a notice briefly describing such supplemental indenture or a copy of such supplemental indenture and the Trustee shall mail such notice or
supplemental indenture to Holders affected thereby. Any failure of the Company to mail such notice, or any defect therein, or any failure of the Company to mail such supplemental indenture, shall not in any way impair or affect the validity of any
such supplemental indenture. 
 Section 903. Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article IX or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and, subject to Section 601, shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that the execution
of such supplemental indenture is authorized or permitted by this Indenture and that all conditions precedent in this Indenture to the execution of such supplemental indenture, if any, have been complied with. The Trustee may, but shall not be
obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Section 904. Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article IX, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

Section 905. Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article IX shall conform to the requirements of the Trust Indenture Act. 

Section 906. Reference in Securities to Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article IX may, and
shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion
of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

ARTICLE X 
 COVENANTS

 Section 1001. Payment of Principal, Premium, if any, and Interest. 

The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and
premium, if any, and interest on the Securities of such series in accordance with the terms of the Securities and this Indenture. Principal and interest shall be considered paid on the date due if, on or before 11:00 a.m. (New York City time) on
such date, the Trustee or the Paying Agent (or, if the Company or any of its Subsidiaries is the Paying Agent, the segregated account or separate trust fund maintained by the Company or such Subsidiary pursuant to Section 1003) holds in
accordance with this Indenture money sufficient to pay all principal and interest then due. 
 The Company shall pay interest on overdue
principal at the rate specified therefor in the Securities, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful as provided in Section 307. 

  
 36 

 Notwithstanding anything to the contrary contained in this Indenture, the Company or the
Paying Agent may, to the extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America or other domestic or foreign taxing authorities from principal or interest payments hereunder.

 Section 1002. Maintenance of Office or Agency. 

The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of such series may be
presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or exchange, where Securities may be surrendered for conversion, and where notices and demands to or upon the Company in respect of
the Securities of such series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain
any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee; and such required office or
agency in New York, New York shall be at an office of the Trustee located at [            ]. 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 other offices or agencies where the
Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve
the Company of its obligation to maintain an office or agency in each Place of Payment 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 location of any such other office or agency. 
 With respect to any Global Security, and except as otherwise may be specified for
such Global Security as contemplated by Section 301, the Corporate Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or exchange, or
where successor Securities may be delivered in exchange therefor; and such Place of Payment with respect to a Global Security in New York, New York shall be at an office of the Trustee located at
[            ]; provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such Global
Security shall be deemed to have been effected at the Place of Payment for such Global Security in accordance with the provisions of this Indenture. 

Section 1003. Money for Securities Payments to Be Held in Trust. 

If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date for
the principal of or premium, if any, or interest on any of the Securities of such series, segregate and hold in trust for the benefit of the Holders of such Securities a sum sufficient to pay the principal and premium, if any, and interest so
becoming due until such sums shall be paid to such Holders or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, no later than 11:00 a.m. (New York City time)
on each due date for the principal of or premium, if any, or interest on any Securities of such series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held in trust for the Holders of such Securities entitled to the
same, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 
 The
Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this
Section 1003, that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by such Paying Agent for the payment of principal of or interest on the Securities and shall notify the Trustee in writing of any
default by the Company in making any such payment. 
 The Company may at any time, for the purpose of obtaining the satisfaction and
discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as
those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

  
 37 

 Subject to any applicable abandoned property law, any money deposited with the Trustee or
any Paying Agent, or then held by the Company, in trust for the payment of the principal of or premium, if any, or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due
and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease. 

Section 1004. Statement by Officers as to Default. 

The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company ending after the date hereof an
Officer’s Certificate signed by its principal executive officer, principal financial officer or principal accounting officer, stating whether or not, to the best knowledge of such officer, the Company is in default in the performance and
observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults and the nature and
status thereof of which they may have knowledge. 
 Section 1005. Waiver of Certain Covenants. 

Except as otherwise specified as contemplated by Section 301 for Securities of such series, the Company may, with respect to the
Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Section 301(21), Section 901(1) or Section 901(8) for the benefit of the Holders
of such series, if before the time for such compliance the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or
generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

ARTICLE XI 
 REDEMPTION
OF SECURITIES 
 Section 1101. Applicability of Article. 

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 301 for such Securities) in accordance with this Article XI. 
 Section 1102. Election to
Redeem; Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by a Board Resolution or an
Officer’s Certificate or in another manner specified as contemplated by Section 301 for such Securities. In case of any redemption at the election of the Company of the Securities of any series (including any such redemption affecting only
a single Security), the Company shall, at least 45 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the principal amount of
Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities (a) prior to the expiration of any restriction on such redemption provided in the terms of
such Securities or elsewhere in this Indenture, or (b) pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with
an Officer’s Certificate evidencing compliance with such restriction or condition. 

  
 38 

 Section 1103. Selection by Trustee of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified tenor are to be
redeemed or unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date, from the Outstanding Securities of such series not previously called
for redemption, by lot or, in the case of Global Securities, pursuant to applicable Depositary procedures; provided that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be
less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be
redeemed shall be selected not more than 60 days prior to the Redemption Date, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the preceding sentence. 

If any Security selected for partial redemption is converted in part before termination of the conversion right with respect to the portion of
the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted during a selection of securities to be redeemed shall be treated by
the Trustee as Outstanding for the purpose of such selection. 
 The Trustee shall promptly notify the Company in writing of the Securities
selected for redemption as aforesaid and, in case of any Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 

The provisions of the three preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether such
Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized
denomination) for such Security. 
 For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to
the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. If the Company shall so direct,
Securities registered in the name of the Company, any Affiliate or any Subsidiary thereof shall not be included in the Securities selected for redemption. 

Section 1104. Notice of Redemption. 

Notice of redemption shall be given by first-class mail, postage prepaid, mailed or otherwise in accordance with the Applicable Procedures not
less than 10 nor more than 60 days prior to the Redemption Date (or within such period as otherwise specified as contemplated by Section 301 for Securities of a series), to each Holder of Securities to be redeemed, at such Holder’s address
appearing in the Security Register. 
 All notices of redemption shall identify the Securities to be redeemed and shall state: 

 

	 	(1)	 the Redemption Date; 

 

	 	(2)	 the Redemption Price (or the method of calculating such price); 

 

	 	(3)	 if less than all the Outstanding Securities of any series consisting of more than a single Security are to be
redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series consisting of a single
Security are to be redeemed, the principal amount of the particular Security to be redeemed; 

  

	 	(4)	 that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be
redeemed and, if applicable, that interest thereon will cease to accrue on and after said date; 

  

	 	(5)	 the place or places where each such Security is to be surrendered for payment of the Redemption Price;

  
 39 

	 	(6)	 for any Securities that by their terms may be converted, the terms of conversion, the date on which the right
to convert the Security to be redeemed will terminate and the place or places where such Securities may be surrendered for conversion; 

  

	 	(7)	 that the redemption is for a sinking fund, if such is the case; and 

 

	 	(8)	 if applicable, the CUSIP numbers of the Securities of such series; provided, however, that no
representation will be made as to the correctness or accuracy of the CUSIP number, or any similar number, if any, listed in such notice or printed on the Securities. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request (which may be rescinded or revoked at any time prior to the time at which the Trustee shall have given such notice to the Holders), by the Trustee in the name and at the expense of the Company. The notice, if sent in the manner herein
provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. In any case, failure to give such notice by mail or otherwise in accordance with the Applicable Procedures or any defect in the notice to
the Holder of any Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Securities. 

Section 1105. Deposit of Redemption Price. 

By no later than 11:00 a.m. (New York City time) on any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or,
if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date or the
Securities of the series provide otherwise) accrued interest on, all the Securities which are to be redeemed on that date, other than Securities or portions of Securities called for redemption which are owned by the Company or a Subsidiary and have
been delivered by the Company or such Subsidiary to the Trustee for cancellation. All money, if any, earned on funds held by the Paying Agent shall be remitted to the Company. In addition, the Paying Agent shall promptly return to the Company any
money deposited with the Paying Agent by the Company in excess of the amounts necessary to pay the Redemption Price of, and accrued interest, if any, on, all Securities to be redeemed. 

If any Security called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in
trust for the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph of Section 307 or in the terms of such Security) be paid to
the Company upon Company Request or, if then held by the Company, shall be discharged from such trust. 
 Section 1106. Securities Payable on
Redemption Date. 
 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date,
become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon
surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together, if applicable, with accrued interest to the Redemption Date; provided, however,
that, unless otherwise specified as contemplated by Section 301, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 307; provided further that, unless otherwise specified as contemplated by Section 301, if the
Redemption Date is after a Regular Record Date and on or prior to the Interest Payment Date, the accrued and unpaid interest shall be payable to the Holder of the redeemed Securities registered on the relevant Regular Record Date. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall,
until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

  
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 Section 1107. Securities Redeemed in Part. 

Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so
requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing), and the Company shall execute, and
the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as requested by such Holder, in principal amount
equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 ARTICLE XII 

SINKING FUNDS 
 Section 1201.
Applicability of Article. 
 The provisions of this Article XII shall be applicable to any sinking fund for the retirement of
Securities of any series except as otherwise specified as contemplated by Section 301 for such Securities. 
 The minimum amount of any
sinking fund payment provided for by the terms of any series of Securities is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of such Securities is herein
referred to as an “optional sinking fund payment.” If provided for by the terms of any series of Securities, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund
payment shall be applied to the redemption of Securities of the series as provided for by the terms of such Securities. 
 Section 1202.
Satisfaction of Sinking Fund Payments with Securities. 
 The Company (1) may deliver Outstanding Securities of a series (other
than any previously called for redemption) and (2) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted
optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such
Securities as and to the extent provided for by the terms of such Securities; provided that the Securities to be so credited have not been previously so credited. The Securities to be so credited shall be received and credited for such
purpose by the Trustee at the Redemption Price, as specified in the Securities so to be redeemed, for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

Section 1203. Redemption of Securities for Sinking Fund. 

Not less than 60 days (or such shorter period as shall be satisfactory to the Trustee) prior to each sinking fund payment date for any
Securities, the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, 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 Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30
days prior to each such sinking fund payment date, the Securities to be redeemed upon such sinking fund payment date shall be selected in the manner specified in Section 1103 and the Company shall 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 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 1106 and
Section 1107. 

  
 41 

 ARTICLE XIII 

DEFEASANCE AND COVENANT DEFEASANCE 

Section 1301. Company’s Option to Effect Defeasance or Covenant Defeasance. 

Unless otherwise provided as contemplated by Section 301, Section 1302 and Section 1303 shall apply to all Securities or each
series of Securities, as the case may be, in either case, denominated in U.S. dollars and bearing interest at a fixed rate, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions
set forth below in this Article XIII; and the Company may elect, at its option at any time, to have Section 1302 and Section 1303 applied to any Securities or any series of Securities, as the case may be, pursuant to such Section 1302
or Section 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article XIII. Any such election to have or not to have Section 1302 and
Section 1303 apply, as the case may be, shall be evidenced by a Board Resolution, Officer’s Certificate or in another manner specified as contemplated by Section 301 for such Securities. 

Section 1302. Defeasance and Discharge. 

Upon the Company’s exercise of its option, if any, to have this Section 1302 applied to any Securities or any series of Securities,
as the case may be, or if this Section 1302 shall otherwise apply to any Securities or any series of Securities, as the case may be, the Company shall be deemed to have been discharged from its obligations with respect to such Securities as
provided in this Section 1302 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have
paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the
Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of such Securities to receive, solely from the trust
fund described in Section 1304 and as more fully set forth in such Section 1305, payments in respect of the principal of and premium, if any, and interest on such Securities when payments are due, (2) the Company’s obligations
with respect to such Securities under Section 304, Section 305, Section 306, Section 1002 and Section 1003, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article XIII.
Subject to compliance with this Article XIII, the Company may exercise its option, if any, to have this Section 1302 applied to the Securities of any series notwithstanding the prior exercise of its option, if any, to have Section 1303
applied to such Securities. 
 Section 1303. Covenant Defeasance. 

Upon the Company’s exercise of its option, if any, to have this Section 1303 applied to any Securities or any series of Securities,
as the case may be, or if this Section 1303 shall otherwise apply to any Securities or any series of Securities, as the case may be, (1) the Company shall be released from its obligations under any covenants provided pursuant to
Section 301(21), Section 901(1) or Section 901(8) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(3) and Section 501(6) shall be deemed not to be or result
in an Event of Default, in each case with respect to such Securities as provided in this Section 1303 on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”).
For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section, whether
directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities
shall be unaffected thereby. 
 Section 1304. Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to the application of Section 1302 or Section 1303 to any Securities or any series of
Securities, as the case may be: 
  

	 	(1)	 The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee
which satisfies the requirements contemplated by Section 609 and agrees to comply with the provisions of this Article XIII applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as
security for, and dedicated solely to, the benefits of the Holders of such Securities, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in
accordance with their terms will 

  
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provide money in an amount, or (C) a combination thereof, in each case sufficient, in the opinion of an independent public accountant or financial advisor expressed in a written
certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and premium, if any, and interest on such Securities on the
respective Stated Maturities, in accordance with the terms of this Indenture and such Securities. As used herein, “U.S. Government Obligation” means (x) any security which is (i) a direct obligation of the United States of
America for the payment of which the full faith and credit of the United States of America is pledged or (ii) an obligation 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, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any
depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S. Government Obligation which is specified in clause (x) above and held by such bank for the account of the
holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held; 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 depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest evidenced by
such depositary receipt. 

  

	 	(2)	 In the event of an election to have Section 1302 apply to any Securities or any series of Securities, as
the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel stating 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 this
Indenture, there has been a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for
Federal income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the
case if such deposit, Defeasance and discharge were not to occur. 

  

	 	(3)	 In the event of an election to have Section 1303 apply to any Securities or any series of Securities, as
the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant
Defeasance to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur.

  

	 	(4)	 The Company shall have delivered to the Trustee an Officer’s Certificate to the effect that neither such
Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 

  

	 	(5)	 No Default or Event of Default with respect to such Securities or any other Securities shall have occurred and
be continuing at the time of such deposit or, insofar as Sections 501(4) or 501(5) are concerned, at any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until
after such 90th day). 

  

	 	(6)	 Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default
under, any other material agreement or instrument to which the Company is a party or by which it is bound. 

  

	 	(7)	 The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each
stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with (in each case, subject to the satisfaction of the condition in clause (5)). 

Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date in
accordance with Article XI. 

  
 43 

 Section 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous
Provisions. 
 Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government Obligations (including
the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section 1305 and Section 1306, the Trustee and any such other trustee are referred to collectively as the “Trustee”)
pursuant to Section 1304 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any such Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and premium, if any, and interest, but money so held in trust
need not be segregated from other funds except to the extent required by law. 
 The Company shall pay and indemnify the Trustee against any
tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is
for the account of the Holders of Outstanding Securities; provided that the Trustee shall be entitled to charge any such tax, fee or other charge to such Holder’s account. 

Anything in this Article XIII to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company
Request any money or U.S. Government Obligations held by it as provided in Section 1304 with respect to any Securities which are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant
Defeasance, as the case may be, with respect to such Securities. 
 Section 1306. Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article XIII with respect to any Securities by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or released
pursuant to Section 1302 or Section 1303 shall be revived and reinstated as though no deposit had occurred pursuant to this Article XIII with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply
all money held in trust pursuant to Section 1305 with respect to such Securities in accordance with this Article XIII; provided, however, that (a) if the Company makes any payment of principal of or premium, if any, or
interest on any such Security following such reinstatement of its obligations, the Company shall be subrogated to the rights, if any, of the Holders of such Securities to receive such payment from the money so held in trust and (b) unless
otherwise required by any legal proceeding or any order or judgment of any court or governmental authority, the Trustee or Paying Agent shall return all such money and U.S. Government Obligations to the Company promptly after receiving a written
request therefor at any time, if such reinstatement of the Company’s obligations has occurred and continues to be in effect. 

ARTICLE XIV 
 REPAYMENT
AT THE OPTION OF HOLDERS 
 Section 1401. Applicability of Article. 

Repayment of Securities of any series before their Stated Maturity at the option of Holders thereof shall be made in accordance with the terms
of such Securities and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article XIV. 

Section 1402. Repayment of Securities. 

Securities of any series subject to repayment in whole or in part at the option of the Holders thereof will, unless otherwise provided in the
terms of such Securities, be repaid at a price equal to the principal amount thereof and premium, if any, thereon, together with interest thereon accrued to the Repayment Date specified in or pursuant to the terms of such Securities. The Company
covenants that on or before the Repayment Date it will deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient
to pay the principal (or, if so provided by the terms of the Securities of any series, a percentage of the principal) of, the premium, if any, and (except if the Repayment Date shall be an Interest Payment Date) accrued interest on, all the
Securities or portions thereof, as the case may be, to be repaid on such date. 

  
 44 

 Section 1403. Exercise of Option. 

Securities of any series subject to repayment at the option of the Holders thereof will contain an “Option to Elect Repayment” form
on the reverse of such Securities. To be repaid at the option of the Holder, any Security so providing for such repayment, with the “Option to Elect Repayment” form on the reverse of such Security duly completed by the Holder (or by the
Holder’s attorney duly authorized in writing), must be received by the Company at the Place of Payment therefor specified in the terms of such Security (or at such other place or places of which the Company shall from time to time notify the
Holders of such Securities) not earlier than 45 days nor later than 30 days prior to the Repayment Date. If less than the entire principal amount of such Security is to be repaid in accordance with the terms of such Security, the principal amount of
such Security to be repaid, in increments of the minimum denomination for Securities of such series, and the denomination or denominations of the Security or Securities to be issued to the Holder for the portion of the principal amount of such
Security surrendered that is not to be repaid, must be specified. The principal amount of any Security providing for repayment at the option of the Holder thereof may not be repaid in part if, following such repayment, the unpaid principal amount of
such Security would be less than the minimum authorized denomination of Securities of the series of which such Security to be repaid is a part. Except as otherwise may be provided by the terms of any Security providing for repayment at the option of
the Holder thereof, exercise of the repayment option by the Holder shall be irrevocable unless waived by the Company. 
 Section 1404. When
Securities Presented for Repayment Become Due and Payable. 
 If Securities of any series providing for repayment at the option of the
Holders thereof shall have been surrendered as provided in this Article XIV and as provided by or pursuant to the terms of such Securities, such Securities or the portions thereof, as the case may be, to be repaid shall become due and payable and
shall be paid by the Company on the Repayment Date therein specified, and on and after such Repayment Date (unless the Company shall default in the payment of such Securities on such Repayment Date) such Securities shall, if the same were
interest-bearing, cease to bear interest. Upon surrender of any such Security for repayment in accordance with such provisions, the principal amount of such Security so to be repaid shall be paid by the Company, together with accrued interest and/or
premium, if any, to (but excluding) the Repayment Date; provided, however, that, unless otherwise specified as contemplated by Section 301, installments of interest, if any, whose Stated Maturity is on or prior to the Repayment
Date shall be payable (but without interest thereon, unless the Company shall default in the payment thereof) to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant
Record Dates according to their terms and the provisions of Section 307. 
 If the principal amount of any Security surrendered for
repayment shall not be so repaid upon surrender thereof, such principal amount (together with interest, if any, thereon accrued to such Repayment Date) and any premium shall, until paid, bear interest from the Repayment Date at the rate of interest
or yield to maturity (in the case of Original Issue Discount Securities) set forth in such Security. 
 Section 1405. Securities Repaid in Part.

 Upon surrender of any Security which is to be repaid in part only, the Company shall execute and the Trustee shall authenticate and
deliver to the Holder of such Security, without service charge and at the expense of the Company, a new Security or Securities of the same series, of any authorized denomination specified by the Holder, in a principal amount equal to and in exchange
for the portion of the principal of such Security so surrendered which is not to be repaid. 

  
 45 

 ARTICLE XV 

SUBORDINATION OF SECURITIES 

Section 1501. Securities Subordinate to Senior Debt. 

The Company for itself, its successors and assigns, covenants and agrees, and each Holder of Securities issued, whether upon original issue or
upon transfer or assignment thereof, by his acceptance thereof likewise covenants and agrees, that the payment of principal of and premium, if any, and interest on each and all Securities is hereby expressly subordinated, to the extent and in the
manner hereinafter in this Article set forth, in right of payment to the prior payment in full of all Senior Debt. The provisions of this Article shall constitute a continuing offer to all persons who, in reliance upon such provisions, become
holders of, or continue to hold, Senior Debt, and such provisions are made for the benefit of the holders of Senior Debt, and such holders are hereby made obligees hereunder the same as if their names were written herein as such, and they and/or
each of them may proceed to enforce such provisions. 
 Section 1502. Payments to Securityholders. 

(a) Upon (i) any acceleration of the principal amount due on the Securities of any series or (ii) any payment or distribution of
assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any dissolution or winding-up or total or partial liquidation or reorganization of the Company,
whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, or any assignment for the benefit of creditors, marshaling of assets and liabilities, or any debt restructuring or similar proceedings in connection
with any insolvency or bankruptcy proceeding, all principal, premium, if any, sinking funds and interest, if any, due upon all Senior Debt shall first be paid in full, or payment thereof provided for in cash or cash equivalents in accordance with
its terms, before any payment is made on account of the principal of, premium, if any, or interest on the indebtedness evidenced by the Securities, and upon any such dissolution or winding-up or liquidation or
reorganization, any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders of the Securities of any series under the terms of this Indenture would be entitled, except
for the provisions hereof, shall (subject to the power of a court of competent jurisdiction to make other equitable provision reflecting the rights conferred by the provisions hereof upon the Senior Debt and the holders thereof with respect to the
Securities and the Holders thereof by a lawful plan of reorganization under applicable bankruptcy law), be paid by the Company or any receiver, trustee in bankruptcy, liquidating trustee, agent or other person making such payment or distribution, or
by the Trustee or the Holders of the Securities if received by them, directly to the holders of Senior Debt (pro rata to each such holder on the basis of the respective amounts of Senior Debt held by such holder) or their representatives, to the
extent necessary to pay all Senior Debt (including interest thereon) in full in cash or cash equivalents in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the holders of Senior Debt, before any
payment or distribution is made to the Holders of the indebtedness evidenced by the Securities. The consolidation of the Company with, or a merger of the Company into, another Person or the liquidation or dissolution of the Company following the
conveyance or transfer of its property as an entirety, or substantially as an entirety, to another Person upon the terms and conditions provided in Section 801 hereof shall not be deemed a dissolution,
winding-up, liquidation or reorganization for the purposes of this Section 1502(a). 
 (b) In
the event that any payment or distribution of assets of the Company of any kind or character not permitted by Section 1502(a), whether in cash, property or securities, shall be received by the Trustee or the Holders of Securities before all
Senior Debt is paid in full, or provision made for such payment, in accordance with its terms upon written notice to the Trustee or, as the case may be, such Holder, such payment or distribution shall be held in trust for the benefit of, and shall
be paid over or delivered to, (i) the holders of such Senior Debt or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any of such Senior Debt may have been
issued, as their respective interest may appear, or (ii) if applicable, any receiver, trustee in bankruptcy, liquidating trustee, agent or other person making payment or distribution of assets of the Company, in each case for application to the
payment of all Senior Debt remaining unpaid to the extent necessary to pay all such Senior Debt in full in accordance with its terms, after giving effect to any concurrent payment or distribution to holders of such Senior Debt. Nothing in this
Article shall apply to claims of, or payments to, the Trustee under or pursuant to Section 506 or Section 607. In addition, nothing in this Article shall prevent the Company from making or the Trustee from receiving or applying any payment
in connection with the redemption of Securities of a series if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Indenture) has been made, and the Trustee has received such payment from the
Company, prior to the occurrence of any of the contingencies specified in this Section 1502. 

  
 46 

 (c) No payment on account of principal of, premium, if any, sinking funds or interest on the
Securities of any series shall be made unless full payment of amounts then due for principal, premium, if any, sinking funds and interest on any Senior Debt has been made or duly provided for in cash or cash equivalents in accordance with the terms
of such Senior Debt. No payment on account of principal, premium, if any, sinking funds or interest on the Securities shall be made if, at the time of such payment or immediately after giving effect thereto, (i) there shall exist a default in
the payment of principal, premium, if any, sinking fund or interest with respect to any Senior Debt, or (ii) there shall have occurred an event of default (other than a default in the payment of principal, premium, if any, sinking funds or
interest) with respect to any Senior Debt, as defined therein or in the instrument under which the same is outstanding, permitting the holders thereof to accelerate the maturity thereof and upon written notice thereof given to the Trustee, with a
copy to the Company (the delivery of which shall not affect the validity of the notice to the Trustee), and such event of default shall not have been cured or waived or shall not have ceased to exist. 

Section 1503. Subrogation to Rights of Holders of Senior Debt. 

From and after the payment in full of all Senior Debt, the Holders of the Securities (together with the holders of any other indebtedness of
the Company which is subordinate in right of payment to the payment in full of all Senior Debt, which is not subordinate in right of payment to the Securities and which by its terms grants such right of subrogation to the holder thereof) shall be
subrogated to the rights of the holders of Senior Debt to receive payments or distributions of assets or securities of the Company applicable to the Senior Debt until the Securities shall be paid in full, and, for the purposes of such subrogation,
no such payments or distributions to the holders of Senior Debt of assets or securities, which otherwise would have been payable or distributable to Holders of the Securities, shall, as between the Company, its creditors other than the holders of
Senior Debt, and the Holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Debt, it being understood that the provisions of this Article are and are intended solely for the purpose of defining the
relative rights of the Holders of the Securities, on the one hand, and the holders of the Senior Debt, on the other hand, and nothing contained in this Article is intended to or shall impair as between the Company, its creditors other than the
holders of Senior Debt, and the Holders of the Securities, the obligation of the Company, which is unconditional and absolute, to pay to the Holders of the Securities the principal of, premium, if any, sinking funds and interest, if any, on the
Securities as and when the same shall become due and payable in accordance with their terms, or to affect the relative rights of the Holders of the Securities and creditors of the Company other than the holders of the Senior Debt, nor shall anything
herein or therein prevent the Trustee or the Holder of a Security of any series from exercising all remedies otherwise permitted by applicable law upon default hereunder with respect to the Securities of such series subject to the rights of the
holders of Senior Debt, under Section 1502, to receive cash, property or securities of the Company otherwise payable or deliverable to the Trustee or the Holders of the Securities or to a representative of such Holders, on their behalf. 

Section 1504. Article Not to Prevent Event of Default. 

Nothing contained in this Article or elsewhere in this Indenture or the Securities of any series shall prevent at any time the Company from
making payments at any time of principal of, premium, if any, sinking funds or interest on the Securities, except under the conditions described in Section 1402 or during the pendency of any proceedings or sale referred to therein. The failure
to make a payment on account of principal of, premium, if any, sinking funds and interest by reason of any provision of this Article shall not be construed as preventing an Event of Default under Section 501. 

Section 1505. Trustee to Effectuate Subordination; No Impairment of Subordination. 

Each Holder of a Security by his acceptance thereof, whether upon original issue or upon transfer or assignment, authorizes and directs the
Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provisions in this Article and appoints the Trustee his
attorney-in-fact for any and all such purposes. 

  
 47 

 No rights of any present or future holder of any Senior Debt to enforce subordination as
herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company, with the
terms, provisions and covenants of this Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with. 

Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt may, at any time and from time to time,
without the consent of or notice to the Holders of the Securities, without incurring responsibility to the Holders of the Securities and without impairing or releasing the subordination provided in this Article or the obligations of the Holders of
the Securities to the holders of Senior Debt, do any one or more of the following: (i) change the manner, place or terms of payment of, or renew or alter, Senior Debt, or otherwise amend or supplement in any manner Senior Debt of any instrument
evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt; (iii) release any Person liable in any
manner for the collection of Senior Debt; and (iv) exercise or refrain from exercising any rights against the Company and any other Person. 

Section 1506. Notice to Trustee. 

The Company shall give prompt written notice to a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee in the form
of an Officer’s Certificate of any fact known to the Company which would prohibit the making of any payment of money or distribution to or by the Trustee in respect of the Securities pursuant to the provisions of this Indenture. Notwithstanding
the provisions of this Article, including, but not limited to, Sections 1502, 1503 and 1504 hereof, or any other provisions of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the
making of any payment or distribution to or by the Trustee in respect of the Securities otherwise required to be made pursuant to the terms of this Indenture or the Securities, unless and until a Responsible Officer of the Trustee shall have
received at the Corporate Trust Office of the Trustee written notice thereof from the Company or a holder or holders of Senior Debt or from any trustee therefor; and, prior to the receipt of any such written notice, the Trustee shall be entitled in
all respects to assume that no such facts exist; provided, however, that if the Trustee shall not have received the notice provided for in this Section at least three Business Days prior to the date upon which by the terms hereof any
cash, property or securities may become payable or distributable for any purposes (including, without limitation, the payment of the principal of, premium, if any, sinking funds or interest on any Security), then, notwithstanding anything herein to
the contrary, the Trustee shall have full power and authority to receive and to apply monies, securities or other property received by it for any such payment or distribution to the purpose for which they were received and shall not be affected by
any notice to the contrary which may have been received by it within such three Business Days prior to such date. 
 The Trustee shall be
entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Debt (or a trustee on behalf of such holder) to establish that such notice has been given by a holder of Senior Debt (or a trustee
on behalf of any such holder). In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Debt to participate in any payment or distribution pursuant to this
Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Debt held by such Person, the extent to which such Person is entitled to participate in such payment or
distribution and any other facts pertinent to the rights of such Person under the Article, and, if such evidence is not furnished, the Trustee may defer any payment or distribution to such Person pending judicial determination as to the right of
such Person to receive such payment or distribution. 
 Section 1507. Reliance on Certificate of Liquidating Agent. 

Upon any payment or distribution referred to in this Article, the Trustee, and the Holders of the Securities shall be entitled to rely upon any
order or decree entered by any court of competent jurisdiction in which a dissolution, winding up or total or partial liquidation or reorganization of the Company is pending, or a certificate of 

  
 48 

 
the trustee in bankruptcy, liquidating trustee, custodian, receiver, assignee for the benefit of creditors, agent or other Person making such payment or distribution, delivered to the Trustee or
to the Holders of the Securities, for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the Senior Debt and other indebtedness of the Company, the amount thereof or payable thereon, the amount or
amounts paid or distributed thereon and all other facts pertinent thereto or to this Article. 
 Section 1508. Trustee Not Fiduciary for Holders of
Senior Debt. 
 With respect to the holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants
and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations with respect to the holders of Senior Debt shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any
fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders if it shall in the absence of bad faith mistakenly pay over or distribute to Holders of the Securities of any series or to the Company or to any other Person
cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article or otherwise. 
 Section 1509. Rights
of Trustee as Holder of Senior Debt. 
 The Trustee in its individual capacity shall be entitled to all the rights set forth in this
Article with respect to any Senior Debt which may at any time be held by it, to the same extent as any other holder of Senior Debt, and nothing in Section 313 of the Trust Indenture Act or Section 613 or elsewhere in this Indenture shall
deprive the Trustee of any of its rights as such holder. 
 Nothing in this Article shall apply to claims of, or payments to, the Trustee
under or pursuant to Section 506 or Section 607. 
 Section 1510. Article Applicable to Paying Agent. 

In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term
“Trustee” as used in this Article shall in such case (unless the context shall otherwise require) be construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent
were named in this Article in addition to or in place of the Trustee; provided, however, that this Section shall not apply to the Company or any Affiliate of the Company if it or such Affiliate acts as Paying Agent. 

Section 1511. Trust Moneys Not Subordinated. 

Notwithstanding anything contained herein to the contrary, payments from moneys or the proceeds of U.S. Government Obligations held in trust
under Article Four or Thirteen by the Trustee for the payment of principal of, premium, if any, and interest on the Securities from the date of deposit (if made in compliance with this Indenture) shall not be subordinated to the prior payment of any
Senior Debt or subject to the restraints set forth in this Article, and none of the Holders shall be obligated to pay over any such amount to the Company or any holder of Senior Debt of the Company or any other creditor of the Company. 

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

[Signature page follows] 

  
 49 

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

			
	CNB Financial Corporation

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

 
			
	
	 [                 ],

as Trustee

 
			
		
	By:	 	 
	Name:	 	
	Title:EX-4.2

 Exhibit 4.2 

Execution Version 
  

 
  

ENERGY TRANSFER OPERATING, L.P., 

as Issuer, 
 SUNOCO LOGISTICS
PARTNERS OPERATIONS L.P., 
 as Guarantor, 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 

FOURTH SUPPLEMENTAL INDENTURE 

Dated as of January 22, 2020 

to 
 Indenture dated as of
June 8, 2018 
 2.900% Senior Notes due 2025 

3.750% Senior Notes due 2030 

5.000% Senior Notes due 2050 
  

 
  

 Table of Contents 

 

					
	 ARTICLE I DEFINITIONS
	  	 	1	 
	 SECTION 1.1 Generally
	  	 	1	 
	 SECTION 1.2 Definition of Certain Terms
	  	 	2	 
		
	 ARTICLE II GENERAL TERMS OF THE NOTES
	  	 	6	 
	 SECTION 2.1 Form
	  	 	6	 
	 SECTION 2.2 Title, Amount and Payment of Principal and Interest
	  	 	7	 
	 SECTION 2.3 Transfer and Exchange
	  	 	9	 
		
	 ARTICLE III GUARANTY; FUTURE SUBSIDIARY GUARANTEES
	  	 	9	 
	 SECTION 3.1 Guarantee
	  	 	9	 
	 SECTION 3.2 Future Subsidiary Guarantors
	  	 	9	 
	 SECTION 3.3 Release of Guarantees
	  	 	9	 
		
	 ARTICLE IV REDEMPTION
	  	 	10	 
	 SECTION 4.1 Optional Redemption of 2025 Notes
	  	 	10	 
	 SECTION 4.2 Optional Redemption of 2030 Notes
	  	 	10	 
	 SECTION 4.3 Optional Redemption of 2050 Notes
	  	 	10	 
	 SECTION 4.4 Optional Redemption Generally
	  	 	11	 
		
	 ARTICLE V ADDITIONAL COVENANTS
	  	 	11	 
	 SECTION 5.1 Limitations on Liens
	  	 	11	 
	 SECTION 5.2 Restriction on Sale-Leasebacks
	  	 	12	 
		
	 ARTICLE VI EVENTS OF DEFAULT
	  	 	12	 
	 SECTION 6.1 Additional Event of Default
	  	 	12	 
		
	 ARTICLE VII AMENDMENTS
	  	 	13	 
	 SECTION 7.1 Amendments without Consent of Holders
	  	 	13	 
	 SECTION 7.2 Notice of Redemption
	  	 	13	 
		
	 ARTICLE VIII MISCELLANEOUS PROVISIONS
	  	 	13	 
	 SECTION 8.1 Ratification of Base Indenture
	  	 	13	 
	 SECTION 8.2 Trustee Not Responsible for Recitals
	  	 	13	 
	 SECTION 8.3 Table of Contents, Headings, etc.
	  	 	14	 
	 SECTION 8.4 Counterpart Originals
	  	 	14	 
	 SECTION 8.5 Governing Law
	  	 	14	 

  

  
 i 

 THIS FOURTH SUPPLEMENTAL INDENTURE, dated as of January 22, 2020 (the
“Fourth Supplemental Indenture”), is among Energy Transfer Operating, L.P. (formerly known as Energy Transfer Partners, L.P.), a Delaware limited partnership (the “Partnership”), Sunoco Logistics Partners Operations L.P., a
Delaware limited partnership (the “Guarantor”), and U.S. Bank National Association, a national banking association, as trustee (the “Trustee”). 

WHEREAS, the Partnership, the Subsidiary Guarantors named therein and the Trustee have heretofore executed and delivered an Indenture, dated
as of June 8, 2018 (the “Base Indenture” and, as supplemented by this Fourth Supplemental Indenture, the “Indenture”), providing for the issuance by the Partnership from time to time of its debentures, notes, bonds or
other evidences of indebtedness to be issued in one or more series unlimited as to principal amount (the “Debt Securities”), and the guarantee of the Debt Securities (the “Guarantee”) by one or more of the Subsidiary Guarantors
(including the Guarantor); 
 WHEREAS, the Partnership has duly authorized and desires to cause to be established pursuant to the Base
Indenture and this Fourth Supplemental Indenture three new series of Debt Securities designated as follows: the “2.900% Senior Notes due 2025” (the “2025 Notes”); the “3.750% Senior Notes due 2030” (the “2030
Notes”); and the “5.000% Senior Notes due 2050” (the “2050 Notes” and, together with the 2025 Notes and the 2030 Notes, the “Notes”); 

WHEREAS, Sections 2.01 and 2.03 of the Base Indenture permit the execution of indentures supplemental thereto to establish the form and terms
of Debt Securities of any series; 
 WHEREAS, pursuant to Section 9.01 of the Base Indenture, the Partnership has requested that the
Trustee join in the execution of this Fourth Supplemental Indenture to establish the form and terms of the Notes; and 
 WHEREAS, all things
necessary have been done to make the Notes, when executed and delivered by the Partnership and authenticated and delivered by the Trustee hereunder and under the Base Indenture and duly issued by the Partnership, and the Guarantee of the Guarantor,
when the Notes are duly issued by the Partnership, the valid obligations of the Partnership and the Guarantor, respectively, and to make this Fourth Supplemental Indenture a valid agreement of the Partnership and the Guarantor enforceable in
accordance with its terms. 
 NOW, THEREFORE, the Partnership, the Guarantor and the Trustee hereby agree that the following provisions
shall supplement the Base Indenture: 
 ARTICLE I 

DEFINITIONS 
 SECTION 1.1
Generally. 
 (a)    Capitalized terms used herein and not otherwise defined herein shall have the respective
meanings ascribed thereto in the Base Indenture. 
 (b)    The rules of interpretation set forth in the Base Indenture
shall be applied hereto as if set forth in full herein. 

  
 1 

 SECTION 1.2 Definition of Certain Terms. 

For all purposes of this Fourth Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise requires, the
following terms shall have the following respective meanings: 
 “2025 Notes Early Call Date” means April 15, 2025. 

“2030 Notes Early Call Date” means February 15, 2030. 

“2050 Notes Early Call Date” means November 15, 2049. 

“Attributable Indebtedness,” when used with respect to any Sale-Leaseback Transaction (as defined in Section 5.2 hereof),
means, as at the time of determination, the present value (discounted at the rate set forth or implicit in the terms of the lease included in such transaction) of the total obligations of the lessee for rental payments (other than amounts required
to be paid on account of property taxes, maintenance, repairs, insurance, assessments, utilities, operating and labor costs and other items that do not constitute payments for property rights) during the remaining term of the lease included in such
Sale-Leaseback Transaction (including any period for which such lease has been extended). In the case of any lease that is terminable by the lessee upon the payment of a penalty or other termination payment, such amount shall be the lesser of the
amount determined assuming termination upon the first date such lease may be terminated (in which case the amount shall also include the amount of the penalty or termination payment, but no rent shall be considered as required to be paid under such
lease subsequent to the first date upon which it may be so terminated) or the amount determined assuming no such termination. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having a
maturity comparable to the remaining term of the applicable series of Notes to be redeemed (assuming, for this purpose, that the applicable series of Notes matured on the applicable Early Call Date) that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the applicable series of Notes to be redeemed (assuming, for this purpose, that the applicable
series of Notes matured on the applicable Early Call Date). 
 “Comparable Treasury Price” means, with respect to any Redemption
Date, (a) the average of the Reference Treasury Dealer Quotations for the Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (b) if the Independent Investment Banker obtains fewer than four
Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Consolidated Net Tangible Assets” means, at any date
of determination, the total amount of assets of the Partnership and its consolidated Subsidiaries after deducting therefrom: 
 (1)
    all current liabilities (excluding (A) any current liabilities that by their terms are extendable or renewable at the option of the obligor thereon to a time more than twelve months after the time as of which the amount
thereof is being computed, and (B) current maturities of long-term debt); and 

  
 2 

 (2)     the value (net of any applicable reserves) of all goodwill,
trade names, trademarks, patents and other like intangible assets, all as set forth, or on a pro forma basis would be set forth, on the consolidated balance sheet of the Partnership and its consolidated Subsidiaries for the Partnership’s most
recently completed fiscal quarter for which financial statements have been filed with the SEC, prepared in accordance with generally accepted accounting principles. 

“Credit Agreement” means the Credit Agreement, dated as of December 1, 2017, among the Partnership, Wells Fargo Bank, National
Association, as Administrative Agent, and the other agents and lenders party thereto, and as further amended, restated, refinanced, replaced or refunded from time to time. 

“Early Call Date” means, with respect to the 2025 Notes, the 2030 Notes and the 2050 Notes, the 2025 Notes Early Call Date, the 2030
Notes Early Call Date and the 2050 Notes Early Call Date, respectively. 
 “Indebtedness” of any Person at any date means any
obligation created or assumed by such Person for the repayment of borrowed money or any guaranty thereof. 
 “Independent Investment
Banker” means any of Citigroup Global Markets Inc., Deutsche Bank Securities Inc., MUFG Securities Americas Inc., Natixis Securities Americas LLC and TD Securities (USA) LLC (and their respective successors) or, if any such firm is not willing
and able to select the applicable Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Partnership. 

“Permitted Liens” means: 

(1)    liens upon rights-of-way for
pipeline purposes; 
 (2)    easements,
rights-of-way, restrictions and other similar encumbrances incurred in the ordinary course of business and encumbrances consisting of zoning restrictions, easements,
licenses, restrictions on the use of real property or minor imperfections in title thereto and which do not in the aggregate materially adversely affect the value of the properties encumbered thereby or materially impair their use in the operation
of the business of the Partnership and its Subsidiaries; 
 (3)    rights reserved to or vested by any provision of law
in any municipality or public authority to control or regulate any of the properties of the Partnership or any Subsidiary or the use thereof or the rights and interests of the Partnership or any Subsidiary therein, in any manner under any and all
laws; 
 (4)    rights reserved to the grantors of any properties of the Partnership or any Subsidiary, and the
restrictions, conditions, restrictive covenants and limitations, in respect thereto, pursuant to the terms, conditions and provisions of any rights-of-way agreements,
contracts or other agreements therewith; 
 (5)    any statutory or governmental lien or lien arising by operation of
law, or any mechanics’, repairmen’s, materialmen’s, suppliers’, carriers’, landlords’, warehousemen’s or similar lien incurred in the ordinary course of business which is not more than sixty (60) days past due
or which is being contested in good faith by appropriate proceedings and any undetermined lien which is incidental to construction, development, improvement or repair; 

  
 3 

 (6)    any right reserved to, or vested in, any municipality or public
authority by the terms of any right, power, franchise, grant, license, permit or by any provision of law, to purchase or recapture or to designate a purchaser of, any property; 

(7)    liens for taxes and assessments which are (a) for the then current year, (b) not at the time delinquent,
or (c) delinquent but the validity or amount of which is being contested at the time by the Partnership or any of its Subsidiaries in good faith by appropriate proceedings; 

(8)    liens of, or to secure performance of, leases, other than capital leases; 

(9)    any lien in favor of the Partnership or any Subsidiary; 

(10)    any lien upon any property or assets of the Partnership or any Subsidiary in existence on the date of the initial
issuance of the Notes; 
 (11)    any lien incurred in the ordinary course of business in connection with workmen’s
compensation, unemployment insurance, temporary disability, social security, retiree health or similar laws or regulations or to secure obligations imposed by statute or governmental regulations; 

(12)    liens in favor of any Person to secure obligations under provisions of any letters of credit, bank guarantees,
bonds or surety obligations required or requested by any governmental authority in connection with any contract or statute, provided that such obligations do not constitute Indebtedness; or any lien upon or deposits of any assets to secure
performance of bids, trade contracts, leases or statutory obligations, and other obligations of a like nature incurred in the ordinary course of business; 

(13)    any lien upon any property or assets created at the time of acquisition of such property or assets by the
Partnership or any of its Subsidiaries or within one year after such time to secure all or a portion of the purchase price for such property or assets or debt incurred to finance such purchase price, whether such debt was incurred prior to, at the
time of or within one year after the date of such acquisition; 
 (14)    any lien upon any property or assets to secure
all or part of the cost of construction, development, repair or improvements thereon or to secure Indebtedness incurred prior to, at the time of, or within one year after completion of such construction, development, repair or improvements or the
commencement of full operations thereof (whichever is later), to provide funds for any such purpose; 
 (15)    any lien
upon any property or assets existing thereon at the time of the acquisition thereof by the Partnership or any of its Subsidiaries and any lien upon any property or assets of a Person existing thereon at the time such Person becomes a Subsidiary of
the Partnership by acquisition, merger or otherwise; provided that, in each case, such lien only encumbers the property or assets so acquired or owned by such Person at the time such Person becomes a Subsidiary; 

  
 4 

 (16)    liens imposed by law or order as a result of any proceeding
before any court or regulatory body that is being contested in good faith, and liens which secure a judgment or other court-ordered award or settlement as to which the Partnership or the applicable Subsidiary has not exhausted its appellate rights;

 (17)    any extension, renewal, refinancing, refunding or replacement (or successive extensions, renewals,
refinancing, refunding or replacements) of liens, in whole or in part, referred to in clauses (1) through (16) above; provided, however, that any such extension, renewal, refinancing, refunding or replacement lien shall be limited to the
property or assets covered by the lien extended, renewed, refinanced, refunded or replaced and that the obligations secured by any such extension, renewal, refinancing, refunding or replacement lien shall be in an amount not greater than the amount
of the obligations secured by the lien extended, renewed, refinanced, refunded or replaced and any expenses of the Partnership or its Subsidiaries (including any premium) incurred in connection with such extension, renewal, refinancing, refunding or
replacement; or 
 (18)    any lien resulting from the deposit of moneys or evidence of indebtedness in trust for the
purpose of defeasing Indebtedness of the Partnership or any of its Subsidiaries. 
 “Person” means any individual, corporation,
partnership, limited liability company, joint venture, incorporated or unincorporated association, joint stock company, trust, unincorporated organization, government or any agency, or political subdivision thereof or any other entity. 

“Principal Property” means, whether owned or leased on the date hereof or thereafter acquired: 

(1)    any pipeline assets of the Partnership or any of its Subsidiaries, including any related facilities employed in the
gathering, transportation, distribution, storage or marketing of natural gas, refined petroleum products, natural gas liquids and petrochemicals, that are located in the United States of America or any territory or political subdivision thereof; and

 (2)    any processing, compression, treating, blending or manufacturing plant or terminal owned or leased by the
Partnership or any of its Subsidiaries that is located in the United States or any territory or political subdivision thereof, except in the case of either of the preceding clause (1) or this clause (2): 

(a)    any such assets consisting of inventories, furniture, office fixtures and equipment (including data
processing equipment), vehicles and equipment used on, or useful with, vehicles; and 
 (b)    any such
assets which, in the opinion of the board of directors of the general partner of the General Partner are not material in relation to the activities of the Partnership and its Subsidiaries taken as a whole. 

“Reference Treasury Dealer” means a primary U.S. government securities dealer in the United States selected by each of Citigroup
Global Markets Inc., Deutsche Bank Securities Inc., MUFG Securities Americas Inc., Natixis Securities Americas LLC and TD Securities (USA) LLC or an affiliate or successor of the foregoing, and, at the option of the Partnership, one or more

  
 5 

 
additional primary U.S. government securities dealers in the United States; provided, however, that if any of the foregoing shall resign as a Reference Treasury Dealer or cease to be a
U.S. government securities dealer, the Partnership will substitute therefor another primary U.S. government securities dealer in the United States. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date for a series of
Notes, an average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for such series of Notes to be redeemed (expressed in each case as a percentage of its principal amount) quoted in
writing to the Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Restricted Subsidiary” means any Subsidiary owning or leasing, directly or indirectly through ownership in another Subsidiary, any
Principal Property. 
 “Subsidiary Guarantor” means each Subsidiary of the Partnership that guarantees the Notes pursuant to the
terms of the Indenture but only so long as such Subsidiary is a guarantor with respect to the Notes on the terms provided for in the Indenture. 

“Treasury Yield” means, with respect to any Redemption Date applicable to the Notes to be redeemed, the rate per annum equal to the
semi-annual equivalent yield to maturity (computed as of the third Business Day immediately preceding such Redemption Date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the applicable Comparable Treasury Price for such Redemption Date. 
 ARTICLE II 

GENERAL TERMS OF THE NOTES 

SECTION 2.1 Form. 
 The
2025 Notes, the 2030 Notes and the 2050 Notes and the Trustee’s certificates of authentication shall be substantially in the form of Exhibit A-1, Exhibit A-2 and
Exhibit A-3, respectively, to this Fourth Supplemental Indenture, which are hereby incorporated into this Fourth Supplemental Indenture. The terms and provisions contained in the Notes shall constitute, and
are hereby expressly made, a part of this Fourth Supplemental Indenture and, to the extent applicable, the Partnership, the Guarantor and the Trustee, by their execution and delivery of this Fourth Supplemental Indenture, expressly agree to such
terms and provisions and to be bound thereby. 
 Each series of Notes shall be issued upon original issuance in whole in the form of one or
more Global Securities (the “Book-Entry Notes”). Each Book-Entry Note shall represent such of the outstanding Notes as shall be specified therein and shall provide that it shall represent the aggregate principal amount of outstanding Notes
from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. 

  
 6 

 The Partnership initially appoints The Depository Trust Company to act as Depositary with
respect to the Book-Entry Notes. 
 SECTION 2.2 Title, Amount and Payment of Principal and Interest. 

(a)    The 2025 Notes shall be entitled the “2.900% Senior Notes due 2025”. The Trustee shall authenticate and
deliver (i) the 2025 Notes for original issue on the date hereof (the “Original 2025 Notes”) in the aggregate principal amount of $1,000,000,000, and (ii) additional 2025 Notes for original issue from time to time after the date
hereof in such principal amounts as may be specified in a Partnership Order described in this sentence, in each case upon a Partnership Order for the authentication and delivery thereof and satisfaction of the other provisions of Section 2.04
of the Base Indenture. Such Partnership Order shall specify the amount of the 2025 Notes to be authenticated, the date on which the original issue of 2025 Notes is to be authenticated, and the name or names of the initial Holder or Holders. The
aggregate principal amount of 2025 Notes that may be outstanding at any time may not exceed $1,000,000,000 plus such additional principal amounts as may be issued and authenticated pursuant to clause (ii) of this paragraph (except as provided
in Section 2.09 of the Base Indenture). The Original 2025 Notes and any additional 2025 Notes issued and authenticated pursuant to clause (ii) of this paragraph shall constitute a single series of Debt Securities for all purposes under the
Indenture. 
 The principal amount of each 2025 Note shall be payable on May 15, 2025. Each 2025 Note shall bear interest from the date
of original issuance, or the most recent date to which interest has been paid, at the fixed rate of 2.900% per annum. The dates on which interest on the 2025 Notes shall be payable shall be May 15 and November 15 of each year (the
“2025 Interest Payment Dates”), commencing May 15, 2020. The regular record date for interest payable on the 2025 Notes on any 2025 Interest Payment Date shall be May 1 or November 1, as the case may be, next preceding such
2025 Interest Payment Date. 
 Payments of principal of, premium, if any, on, and interest due on the 2025 Notes representing Book-Entry
Notes on any 2025 Interest Payment Date or at maturity will be made available to the Trustee by 10:00 a.m., New York City time, on such date, unless such date falls on a day that is not a Business Day, in which case (x) such payments will be
made available to the Trustee by 10:00 a.m., New York City time, on the next Business Day, and (y) for so long as clause (x) is satisfied, no interest shall accrue on the amount of interest due on such 2025 Interest Payment Date for the
period from and after such 2025 Interest Payment Date and the date of payment. As soon as possible thereafter, the Trustee will make such payments to the Depositary. 

(b)    The 2030 Notes shall be entitled the “3.750% Senior Notes due 2030”. The Trustee shall authenticate and
deliver (i) the 2030 Notes for original issue on the date hereof (the “Original 2030 Notes”) in the aggregate principal amount of $1,500,000,000, and (ii) additional 2030 Notes for original issue from time to time after the date
hereof in such principal amounts as may be specified in a Partnership Order described in this sentence, in each case upon a Partnership Order for the authentication and delivery thereof and satisfaction of the other provisions of Section 2.04
of the Base Indenture. Such Partnership Order shall specify the amount of the 2030 Notes to be authenticated, the date on which the original issue of 2030 Notes is to be authenticated, and the name or names of the initial Holder or Holders. The
aggregate principal amount of 2030 Notes 

  
 7 

 
that may be outstanding at any time may not exceed $1,500,000,000 plus such additional principal amounts as may be issued and authenticated pursuant to clause (ii) of this paragraph (except
as provided in Section 2.09 of the Base Indenture). The Original 2030 Notes and any additional 2030 Notes issued and authenticated pursuant to clause (ii) of this paragraph shall constitute a single series of Debt Securities for all
purposes under the Indenture. 
 The principal amount of each 2030 Note shall be payable on May 15, 2030. Each 2030 Note shall bear
interest from the date of original issuance, or the most recent date to which interest has been paid, at the fixed rate of 3.750% per annum. The dates on which interest on the 2030 Notes shall be payable shall be May 15 and November 15 of
each year (the “2030 Interest Payment Dates”), commencing May 15, 2020. The regular record date for interest payable on the 2030 Notes on any 2030 Interest Payment Date shall be May 1 or November 1, as the case may be, next
preceding such 2030 Interest Payment Date. 
 Payments of principal of, premium, if any, on, and interest due on the 2030 Notes representing
Book-Entry Notes on any 2030 Interest Payment Date or at maturity will be made available to the Trustee by 10:00 a.m., New York City time, on such date, unless such date falls on a day that is not a Business Day, in which case (x) such payments
will be made available to the Trustee by 10:00 a.m., New York City time, on the next Business Day, and (y) for so long as clause (x) is satisfied, no interest shall accrue on the amount of interest due on such 2030 Interest Payment Date
for the period from and after such 2030 Interest Payment Date and the date of payment. As soon as possible thereafter, the Trustee will make such payments to the Depositary. 

(c)    The 2050 Notes shall be entitled the “5.000% Senior Notes due 2050”. The Trustee shall authenticate and
deliver (i) the 2050 Notes for original issue on the date hereof (the “Original 2050 Notes”) in the aggregate principal amount of $2,000,000,000, and (ii) additional 2050 Notes for original issue from time to time after the date
hereof in such principal amounts as may be specified in a Partnership Order described in this sentence, in each case upon a Partnership Order for the authentication and delivery thereof and satisfaction of the other provisions of Section 2.04
of the Base Indenture. Such Partnership Order shall specify the amount of the 2050 Notes to be authenticated, the date on which the original issue of 2050 Notes is to be authenticated, and the name or names of the initial Holder or Holders. The
aggregate principal amount of 2050 Notes that may be outstanding at any time may not exceed $2,000,000,000 plus such additional principal amounts as may be issued and authenticated pursuant to clause (ii) of this paragraph (except as provided
in Section 2.09 of the Base Indenture). The Original 2050 Notes and any additional 2050 Notes issued and authenticated pursuant to clause (ii) of this paragraph shall constitute a single series of Debt Securities for all purposes under the
Indenture. 
 The principal amount of each 2050 Note shall be payable on May 15, 2050. Each 2050 Note shall bear interest from the date
of original issuance, or the most recent date to which interest has been paid, at the fixed rate of 5.000% per annum. The dates on which interest on the 2050 Notes shall be payable shall be May 15 and November 15 of each year (the
“2050 Interest Payment Dates”), commencing May 15, 2020. The regular record date for interest payable on the 2050 Notes on any 2050 Interest Payment Date shall be May 1 or November 1, as the case may be, next preceding such
2050 Interest Payment Date. 

  
 8 

 Payments of principal of, premium, if any, on, and interest due on the 2050 Notes
representing Book-Entry Notes on any 2050 Interest Payment Date or at maturity will be made available to the Trustee by 10:00 a.m., New York City time, on such date, unless such date falls on a day that is not a Business Day, in which case
(x) such payments will be made available to the Trustee by 10:00 a.m., New York City time, on the next Business Day, and (y) for so long as clause (x) is satisfied, no interest shall accrue on the amount of interest due on such 2050
Interest Payment Date for the period from and after such 2050 Interest Payment Date and the date of payment. As soon as possible thereafter, the Trustee will make such payments to the Depositary. 

SECTION 2.3 Transfer and Exchange. 

The transfer and exchange of Book-Entry Notes or beneficial interests therein shall be effected through the Depositary, in accordance with
Section 2.17 of the Base Indenture and Article II of this Fourth Supplemental Indenture (including the restrictions on transfer set forth therein and herein) and the rules and procedures of the Depositary therefor, which shall include
restrictions on transfer comparable to those set forth therein and herein to the extent required by the Securities Act of 1933, as amended. 

ARTICLE III 
 GUARANTY;
FUTURE SUBSIDIARY GUARANTEES 
 SECTION 3.1 Guarantee. 

In accordance with Article X of the Base Indenture, the Notes will be fully, unconditionally and absolutely guaranteed on an unsecured,
unsubordinated basis by the Guarantor. Initially, there will not be any other Subsidiary Guarantors. 
 SECTION 3.2 Future
Subsidiary Guarantors. 
 If any Subsidiary of the Partnership that is not then a Subsidiary Guarantor guarantees, becomes a co-obligor with respect to or otherwise provides direct credit support for any obligations of the Partnership or any of its other Subsidiaries under the Credit Agreement, then the Partnership shall cause such
Subsidiary to promptly execute and deliver to the Trustee a supplemental indenture in a form satisfactory to the Trustee pursuant to which such Subsidiary will Guarantee the Partnership’s obligations with respect to the Notes and under the
Indenture. 
 SECTION 3.3 Release of Guarantees. 

In addition to the provisions of Section 10.04(a) of the Base Indenture, if no Default shall have occurred and shall be continuing under
the Indenture, and to the extent not otherwise prohibited by the Indenture, any Guarantee incurred by a Subsidiary Guarantor shall be unconditionally released and discharged following delivery of a written notice by the Partnership to the Trustee,
upon the release of all guarantees or other obligations of such Subsidiary Guarantor with respect to the obligations of the Partnership or any of its Subsidiaries under the Credit Agreement. 

  
 9 

 ARTICLE IV 

REDEMPTION 
 SECTION 4.1
Optional Redemption of 2025 Notes. 
 (a)    Prior to the 2025 Notes Early Call Date, the 2025 Notes are
redeemable, at the option of the Partnership, at any time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the 2025 Notes to be redeemed; or (ii) the sum of the
present values of the remaining scheduled payments of principal and interest (at the interest rate in effect on the date of calculation of the Redemption Price) on the 2025 Notes to be redeemed that would be due after the related Redemption Date if
such 2025 Notes matured on the 2025 Notes Early Call Date but for such redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 20 basis points; plus, in either case of clause (i) or clause (ii), accrued
and unpaid interest thereon, to, but excluding, the Redemption Date. 
 (b)    At any time on or after the 2025 Notes
Early Call Date, the 2025 Notes are redeemable in whole or in part, at the option of the Partnership, at a Redemption Price equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued and unpaid interest thereon to, but
excluding, the Redemption Date. 
 SECTION 4.2 Optional Redemption of 2030 Notes. 

(a)    Prior to the 2030 Notes Early Call Date, the 2030 Notes are redeemable, at the option of the Partnership, at any
time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the 2030 Notes to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of
principal and interest (at the interest rate in effect on the date of calculation of the Redemption Price) on the 2030 Notes to be redeemed that would be due after the related Redemption Date if such 2030 Notes matured on the 2030 Notes Early Call
Date but for such redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 30 basis points; plus, in either case of clause (i) or clause (ii), accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

(b)    At any time on or after the 2030 Notes Early Call Date, the 2030 Notes are redeemable in whole or in part, at the
option of the Partnership, at a Redemption Price equal to 100% of the principal amount of the 2030 Notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

SECTION 4.3 Optional Redemption of 2050 Notes. 

(a)    Prior to the 2050 Notes Early Call Date, the 2050 Notes are redeemable, at the option of the Partnership, at any
time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the 2050 Notes to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of
principal and interest (at the interest rate in effect on the date of calculation of the Redemption Price) on the 2050 Notes to 

  
 10 

 
be redeemed that would be due after the related Redemption Date if such 2050 Notes matured on the 2050 Notes Early Call Date but for such redemption (exclusive of interest accrued to, but
excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable
Treasury Yield plus 40 basis points; plus, in either case of clause (i) or clause (ii), accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

(b)    At any time on or after the 2050 Notes Early Call Date, the 2050 Notes are redeemable in whole or in part, at the
option of the Partnership, at a Redemption Price equal to 100% of the principal amount of the 2050 Notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

SECTION 4.4 Optional Redemption Generally. 

The actual Redemption Price, determined as provided in Sections 4.1, 4.2 and 4.3, shall be calculated and certified to the Trustee and the
Partnership by the Independent Investment Banker. 
 ARTICLE V 

ADDITIONAL COVENANTS 
 In
addition to the covenants set forth in the Base Indenture, the Notes shall be entitled to the benefit of the following covenants: 
 SECTION
5.1 Limitations on Liens. 
 The Partnership shall not, nor shall it permit any of its Subsidiaries to, create, assume, incur
or suffer to exist any mortgage, lien, security interest, pledge, charge or other encumbrance (“liens”) upon any Principal Property or upon any capital stock of any Restricted Subsidiary, whether owned on the date hereof or thereafter
acquired, to secure any Indebtedness of the Partnership or any other Person (other than the Notes), without in any such case making effective provisions whereby all of the outstanding Notes are secured equally and ratably with, or prior to, such
Indebtedness so long as such Indebtedness is so secured. 
 Notwithstanding the foregoing, the Partnership may, and may permit any of its
Subsidiaries to, create, assume, incur, or suffer to exist without securing the Notes (a) any Permitted Lien, (b) any lien upon any Principal Property or capital stock of a Restricted Subsidiary to secure Indebtedness of the Partnership or
any other Person, provided that the aggregate principal amount of all Indebtedness then outstanding secured by such lien and all similar liens under this clause (b), together with all Attributable Indebtedness from Sale-Leaseback Transactions
(excluding Sale-Leaseback Transactions permitted by clauses (1) through (4), inclusive, of Section 5.2(a) hereof), does not exceed 10% of Consolidated Net Tangible Assets or (c) any lien upon (i) any Principal Property that was
not owned by the Partnership or any of its Subsidiaries on the date hereof or (ii) the capital stock of any Restricted Subsidiary that owns no Principal Property that was owned by the Partnership or any of its Subsidiaries on the date hereof,
in each case owned by a Subsidiary of the Partnership (an “Excluded Subsidiary”) that (A) is not, and is not required to be, a Subsidiary Guarantor and (B) has not granted any liens on any of its property securing Indebtedness
with recourse to the Partnership or any Subsidiary of the Partnership other than such Excluded Subsidiary or any other Excluded Subsidiary. 

  
 11 

 SECTION 5.2 Restriction on Sale-Leasebacks. 

(a)    The Partnership shall not, and shall not permit any Subsidiary to, engage in the sale or transfer by the Partnership
or any of its Subsidiaries of any Principal Property to a Person (other than the Partnership or a Subsidiary) and the taking back by the Partnership or its Subsidiary, as the case may be, of a lease of such Principal Property (a “Sale-Leaseback
Transaction”), unless: 
 (1)    such Sale-Leaseback Transaction occurs within one year from the date of completion
of the acquisition of the Principal Property subject thereto or the date of the completion of construction, development or substantial repair or improvement, or commencement of full operations on such Principal Property, whichever is later; 

(2)    the Sale-Leaseback Transaction involves a lease for a period, including renewals, of not more than three years;

 (3)    the Partnership or such Subsidiary would be entitled to incur Indebtedness secured by a lien on the Principal
Property subject thereto in a principal amount equal to or exceeding the Attributable Indebtedness from such Sale-Leaseback Transaction without equally and ratably securing the Notes; or 

(4)    the Partnership or such Subsidiary, within a one-year period after such
Sale-Leaseback Transaction, applies or causes to be applied an amount not less than the Attributable Indebtedness from such Sale-Leaseback Transaction to (a) the prepayment, repayment, redemption, reduction or retirement of any Indebtedness of
the Partnership or any of its Subsidiaries that is not subordinated to the Notes or any Guarantee, or (b) the expenditure or expenditures for Principal Property used or to be used in the ordinary course of business of Partnership or its
Subsidiaries. 
 (b)    Notwithstanding Section 5.2(a) hereof, the Partnership may, and may permit any Subsidiary
to, effect any Sale-Leaseback Transaction that is not excepted by clauses (1) through (4), inclusive, of Section 5.2(a) hereof provided that the Attributable Indebtedness from such Sale-Leaseback Transaction, together with the aggregate
principal amount of outstanding Indebtedness (other than the Notes) secured by liens other than Permitted Liens upon Principal Properties, does not exceed 10% of Consolidated Net Tangible Assets. 

ARTICLE VI 
 EVENTS OF
DEFAULT 
 SECTION 6.1 Additional Event of Default. 

In addition to the Events of Default specified in Section 6.01 of the Base Indenture, the following shall be an Event of Default with
respect to each series of the Notes: any Indebtedness of the Partnership or any Subsidiary Guarantor is not paid within any applicable grace period after final maturity or is accelerated by the holders thereof because of a default and the total
amount of such Indebtedness unpaid or accelerated exceeds $25,000,000. 

  
 12 

 ARTICLE VII 

AMENDMENTS 
 SECTION 7.1
Amendments without Consent of Holders. 
 Clause (12) of Section 9.01 of the Base Indenture is hereby amended so as
to be renumbered as new clause (13), the “or” at the end of Clause (11) of Section 9.01 of the Base Indenture is hereby deleted, and new clause (12) is hereby added sequentially as follows: 

“(12) conform the text of the Indenture to any provision set forth under the section entitled “Description of the Notes” in the
Prospectus Supplement dated January 7, 2020 to the extent that such text of the Indenture was intended to reflect such provision as set forth under the section entitled “Description of the Notes” in the Prospectus Supplement dated
January 7, 2020; or” 
 SECTION 7.2 Notice of Redemption. 

The first paragraph of Section 3.04 of the Base Indenture shall be amended and restated in its entirety to read as follows: 

“Notice of redemption shall be given by first-class mail, postage prepaid, mailed (or when the Debt Securities are in the form of Global
Securities, sent pursuant to the applicable procedures of the Depositary) not less than 15 nor more than 60 days prior to the Redemption Date, to each Holder of Debt Securities to be redeemed, at the address of such Holder appearing in the register
of Debt Securities maintained by the Registrar, except that redemption notices may be sent more than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of a series of Debt Securities or a satisfaction or
discharge of the Indenture with respect to a series of Debt Securities.” 
 ARTICLE VIII 

MISCELLANEOUS PROVISIONS 

SECTION 8.1 Ratification of Base Indenture. 

The Base Indenture, as supplemented by this Fourth Supplemental Indenture, is in all respects ratified and confirmed, and this Fourth
Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided. 
 SECTION
8.2 Trustee Not Responsible for Recitals. 
 The recitals contained herein and in the Notes, except with respect to the
Trustee’s certificates of authentication, shall be taken as the statements of the Partnership and the Guarantor, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity
or sufficiency of this Fourth Supplemental Indenture or of the Notes. 

  
 13 

 SECTION 8.3 Table of Contents, Headings, etc. 

The table of contents and headings of the Articles and Sections of this Fourth Supplemental 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. 

SECTION 8.4 Counterpart Originals. 

The parties may sign any number of copies of this Fourth Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement. 
 SECTION 8.5 Governing Law. 

THIS FOURTH SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

(Signature Page Follows) 

  
 14 

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

			
	ISSUER:
	
	ENERGY TRANSFER OPERATING, L.P.
		
	By:	 	Energy Transfer Partners GP, L.P.,
		 	its general partner
		
	By:	 	Energy Transfer Partners, L.L.C.,
		 	its general partner
		
	By:	 	 /s/ Thomas E. Long

	Name:	 	Thomas E. Long
	Title:	 	Chief Financial Officer
	
	GUARANTOR:
	
	SUNOCO LOGISTICS PARTNERS OPERATIONS L.P.
		
	By:	 	Sunoco Logistics Partners GP LLC,
		 	its general partner
		
	By:	 	 /s/ Thomas E. Long

	Name:	 	Thomas E. Long
	Title:	 	Chief Financial Officer
	
	TRUSTEE:
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Alejandro Hoyos

	Name:	 	Alejandro Hoyos
	Title:	 	Vice President

  
 Signature Page of
Fourth Supplemental Indenture 

 Exhibit A-1 

FORM OF NOTE 
 [FACE OF
SECURITY] 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) (55 WATER STREET, NEW
YORK, NEW YORK 10041) TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 [TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO HEREIN.]* 
  

			
	No.                     	  	$        
		  	CUSIP: 29278N AP8
		  	ISIN: US29278NAP87

 ENERGY TRANSFER OPERATING, L.P. 

2.900% SENIOR NOTES DUE 2025 

ENERGY TRANSFER OPERATING, L.P., a Delaware limited partnership (the “Partnership,” which term includes any successor under the
Indenture hereinafter referred to), for value received, hereby promises to pay to                      or its registered assigns, the principal sum
of                      U.S. dollars ($        ), [or such greater or lesser principal sum as is shown on the
attached Schedule of Increases and Decreases in Global Security]*, on May 15, 2025 in such coin and currency of the United States of America as at the time of payment shall be legal
tender for the payment of public and private debts, and to pay interest thereon at an annual rate of 2.900% payable on May 15 and November 15 of each year, to the person in whose name the Security is registered at the close of business on
the record date for such interest, which shall be the preceding May 1 or November 1 (each, a “Regular Record Date”), respectively, payable commencing on May 15, 2020. 

Reference is made to the further provisions of this Security set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
  

 

	* 	 To be included in a Book-Entry Note. 

  
 A-1-1 

 The statements in the legends set forth in this Security are an integral part of the terms
of this Security and by acceptance hereof the Holder of this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such legend. 

This Security is issued in respect of a series of Debt Securities of an initial aggregate principal amount of $1,000,000,000 designated as the
2.900% Senior Notes due 2025 of the Partnership and is governed by the Indenture dated as of June 8, 2018 (the “Base Indenture”), duly executed and delivered by the Partnership, as issuer, certain Subsidiary Guarantors party thereto,
including Sunoco Logistics Partners Operations L.P., a Delaware limited partnership (the “Guarantor”), and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the Fourth Supplemental Indenture dated as
of January 22, 2020 (the “Fourth Supplemental Indenture”, and together with the Base Indenture, the “Indenture”), duly executed by the Partnership, the Guarantor and the Trustee. The terms of the Indenture are incorporated
herein by reference. This Security shall in all respects be entitled to the same benefits as definitive Debt Securities under the Indenture. 

If and to the extent any provision of the Indenture limits, qualifies or conflicts with any other provision of the Indenture that is required
to be included in the Indenture or is deemed applicable to the Indenture by virtue of the provisions of the Trust Indenture Act of 1939, as amended (the “TIA”), such required provision shall control. 

This Security shall not be valid or become obligatory for any purpose until the Trustee’s Certificate of Authentication hereon shall have
been manually signed by the Trustee under the Indenture. 

  
 A-1-2 

 IN WITNESS WHEREOF, the Partnership has caused this instrument to be duly executed by the
general partner of the General Partner. 
 Dated:
                     
  

			
	ENERGY TRANSFER OPERATING, L.P.
		
	By:	 	Energy Transfer Partners GP, L.P.,
		 	its General Partner
		
	By:	 	Energy Transfer Partners, L.L.C.,
		 	its General Partner
		
	By:	 	  

	Name:	 	Kelcy L. Warren
	Title:	 	Chief Executive Officer
		
	By:	 	  

	Name:	 	Thomas E. Long
	Title:	 	Chief Financial Officer

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-1-3 

 [REVERSE OF SECURITY] 

ENERGY TRANSFER OPERATING, L.P. 

2.900% SENIOR NOTES DUE 2025 

This Security is one of a duly authorized issue of debentures, notes or other evidences of indebtedness of the Partnership (the “Debt
Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to the Indenture, to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Partnership, the Guarantor and the Holders of the Debt Securities. The Debt Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may
mature at different times, may bear interest (if any) at different rates, may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as provided in the Indenture. This Security is one of a series designated as
the 2.900% Senior Notes due 2025 of the Partnership, in an initial aggregate principal amount of $1,000,000,000 (the “Securities”). 

1.    Interest. 
 The
Partnership promises to pay interest on the principal amount of this Security at the rate of 2.900% per annum. 
 The Partnership will pay
interest semi-annually on May 15 and November 15 of each year (each such date, an “Interest Payment Date”), commencing May 15, 2020. Interest on the Securities will accrue from the most recent date to which interest has been
paid, or, if no interest has been paid on the Securities, from January 22, 2020. Interest will be computed on the basis of a 360-day year consisting of twelve
30-day months. The Partnership shall pay interest (including post-petition interest in any proceeding under any applicable bankruptcy laws) on overdue installments of interest (without regard to any applicable
grace period) and on overdue principal and premium, if any, from time to time on demand at the same rate per annum, in each case to the extent lawful. 

2.    Method of Payment. 

The Partnership shall pay interest on the Securities (except Defaulted Interest) to the persons who are the registered Holders at the close of
business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for (“Defaulted Interest”) may be paid to the persons who are registered Holders at the close of
business on a special record date for the payment of such Defaulted Interest, or in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may then be listed if such manner of payment shall
be deemed practicable by the Trustee, as more fully provided in the Indenture. The Partnership shall pay principal, premium, if any, and interest in such coin or currency of the United States of America as at the time of payment shall be legal
tender for payment of public and private debts. Payments in respect of a Global Security (including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts specified by the Depositary.
Payments in respect of Securities in definitive form (including principal, premium, if any, and interest) will be made at the office or agency of the Partnership maintained for such purpose within The City of New York, which initially will be at the
corporate trust office of the Trustee located at 100 Wall Street, Suite 

  
 A-1-4 

 
1600, New York, New York 10005, Mail Station: EX-NY-WALL, or, at the option of the Partnership, payment of interest
may be made by check mailed to the Holders on the relevant record date at their addresses set forth in the register of Holders maintained by the Registrar or at the option of the Holder, payment of interest on Securities in definitive form will be
made by wire transfer of immediately available funds to any account maintained in the United States, provided such Holder has requested such method of payment and provided timely wire transfer instructions to the Paying Agent. The Holder must
surrender this Security to a Paying Agent to collect payment of principal. 
 3.    Paying Agent and Registrar. 

Initially, U.S. Bank National Association will act as Paying Agent and Registrar. The Partnership may change any Paying Agent or Registrar at
any time upon notice to the Trustee and the Holders. The Partnership may act as Paying Agent. 
 4.    Indenture. 

This Security is one of a duly authorized issue of Debt Securities of the Partnership issued and to be issued in one or more series under the
Indenture. 
 Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The terms of the Securities
include those stated in the Base Indenture, those made part of the Indenture by reference to the TIA, as in effect on the date of the Base Indenture, and those terms stated in the Fourth Supplemental Indenture. The Securities are subject to all such
terms, and Holders of Securities are referred to the Base Indenture, the Fourth Supplemental Indenture and the TIA for a statement of them. The Securities of this series are general unsecured obligations of the Partnership limited to an initial
aggregate principal amount of $1,000,000,000; provided, however, that the authorized aggregate principal amount of such series may be increased from time to time as provided in the Fourth Supplemental Indenture. 

5.    Redemption. 

Optional Redemption. Prior to the 2025 Notes Early Call Date, the Securities are redeemable, at the option of the Partnership, at any
time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the Securities to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of
principal and interest (at the interest rate in effect on the date of calculation of the Redemption Price) on the Securities to be redeemed that would be due after the related Redemption Date if such Securities matured on the 2025 Notes Early Call
Date but for such redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 20 basis points; plus, in either case of clause (i) or clause (ii), accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

At any time on or after the 2025 Notes Early Call Date, the Securities are redeemable in whole or in part, at the option of the Partnership,
at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed, plus accrued and unpaid interest thereon, to, but excluding, the Redemption Date. 

  
 A-1-5 

 The actual Redemption Price, calculated as provided above, shall be calculated and certified
to the Trustee and the Partnership by the Independent Investment Banker. 
 Except as set forth above, the Securities will not be redeemable
prior to their Stated Maturity and will not be entitled to the benefit of any sinking fund. 
 6.    Denominations; Transfer;
Exchange. 
 The Securities are to be issued in registered form, without coupons, in denominations of $2,000 and integral multiples of
$1,000 in excess thereof. A Holder may register the transfer of, or exchange, Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay
any taxes and fees required by law or permitted by the Indenture. 
 7.    Person Deemed Owners. 

The registered Holder of a Security may be treated as the owner of it for all purposes. 

8.    Amendment; Supplement; Waiver. 

Subject to certain exceptions, the Indenture may be amended or supplemented, and any existing Event of Default or compliance with any provision
may be waived, with the consent of the Holders of a majority in principal amount of the then outstanding notes of the affected series. Without consent of any Holder of a Security, the parties thereto may amend or supplement the Indenture to, among
other things, cure any ambiguity or omission, to correct any defect or inconsistency, or to make any other change that does not adversely affect the rights of any Holder of a Security. Any such consent or waiver by the Holder of this Security
(unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Security and any Securities which may be issued in exchange or substitution herefor, regardless of whether
any notation thereof is made upon this Security or such other Securities. 
 9.    Defaults and Remedies. 

Certain events of bankruptcy or insolvency are Events of Default that will result in the principal amount of the Securities, together with
premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities occurs and is continuing, then in every such
case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to
be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in
principal amount of the outstanding Securities, by written notice to the Trustee, may rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court of competent jurisdiction and if
all existing Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest which has become due solely by such declaration acceleration, shall have been cured or shall have been waived. No
such rescission shall affect any subsequent default or shall impair any right 

  
 A-1-6 

 
consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it
before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the Trustee in its exercise of any trust or power. 

10.    Trustee Dealings with Partnership. 

The Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the
Partnership or its Affiliates, and may otherwise deal with the Partnership or its Affiliates as if it were not the Trustee. 

11.    Authentication. 

This Security shall not be valid until the Trustee signs the certificate of authentication on the other side of this Security. 

12.    Abbreviations and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Security or an assignee, such as: TEN COM (tenant in common), TEN ENT (tenants
by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (Custodian), and U/G/M/A (Uniform Gifts to Minors Act). 

13.    CUSIP Numbers. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Partnership has caused CUSIP
numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such number as printed on the Securities and reliance may be placed only on the other identification numbers
printed hereon. 
 14.    Absolute Obligation. 

No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the
Partnership, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Security in the manner, at the respective times, at the rate and in the coin or currency herein prescribed. 

15.    No Recourse. 

No director, officer, employee, limited partner or member, as such, of the Partnership, the General Partner or Energy Transfer Partners, L.L.C.
shall have any personal liability in respect of the obligations of the Partnership or the Guarantor under the Securities or the Indenture by reason of his, her or its status. Each Holder, by accepting the Securities, waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Securities. 

  
 A-1-7 

 16.    Governing Law. 

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

17.    Guarantee. 
 The
Securities are fully and unconditionally guaranteed on an unsecured, unsubordinated basis by the Guarantor as set forth in Article X of the Base Indenture, as noted in the Notation of Guarantee affixed to this Security, and under certain
circumstances set forth in the Fourth Supplemental Indenture one or more Subsidiaries of the Partnership may be required to join in such Guarantee. 

18.    Reliance. 
 The
Holder, by accepting this Security, acknowledges and affirms that (i) it has purchased the Security in reliance upon the separateness of the Guarantor, the general partner of the Guarantor, the General Partner and the general partner of the
General Partner from each other and from any other Persons, and (ii) the Guarantor, the general partner of the Guarantor, the General Partner and the general partner of the General Partner have assets and liabilities that are separate from
those of each other and of any other Persons. 

  
 A-1-8 

 NOTATION OF GUARANTEE 

Each of the Subsidiary Guarantors (which term includes any successor Person under the Indenture) has fully, unconditionally and absolutely
guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal of, and premium, if any, and interest on the Debt Securities and all other amounts due and payable
under the Indenture and the Debt Securities by the Partnership. 
 The obligations of the Subsidiary Guarantors to the Holders of Debt
Securities and to the Trustee pursuant to the Guarantee and the Indenture are expressly set forth in Article X of the Base Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

 

			
	SUNOCO LOGISTICS PARTNERS OPERATIONS L.P.
		
	By:	 	Sunoco Logistics Partners GP LLC,
		 	its general partner
		
	By:	 	  

	Name:	 	Thomas E. Long
	Title:	 	Chief Financial Officer

  
 A-1-9 

 ABBREVIATIONS 

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

			
	 TEN COM - as tenants in common
	  	UNIF GIFT MIN ACT -
		  	(Cust.)                                
	 TEN ENT - as tenants by entireties
	  	Custodian for:
		  	(Minor)                                
	JT TEN - as joint tenants with right of survivorship and not as tenants in common	  	Under Uniform Gifts to Minors Act of
		  	(State)                                

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

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

IDENTIFYING NUMBER OF ASSIGNEE 
 Please print or type name and
address including postal zip code of assignee: 
 the within Security and all rights thereunder, hereby irrevocably constituting and appointing to transfer
said Security on the books of the Partnership, with full power of substitution in the premises. 
  

			
	Dated                     	  	Registered Holder

  
 A-1-10 

 SCHEDULE OF INCREASES OR DECREASES 

IN GLOBAL SECURITY* 
 The
following increases or decreases in this Global Security have been made: 
  

																	
	 Date of Exchange
	  	Amount of Decrease
in Principal Amount
of this Global
Security	 	  	Amount of Increase
in Principal Amount
of this Global
Security	 	  	Principal Amount of
this Global Security
Following Such
Decrease (or Increase)	 	  	Signature of
Authorized Officer of
Trustee or Depositary	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  

	*	 To be included in a Book-Entry Note. 

  
 A-1-11 

 Exhibit A-2 

FORM OF NOTE 
 [FACE OF
SECURITY] 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) (55 WATER STREET, NEW
YORK, NEW YORK 10041) TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 [TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO HEREIN.]* 
  

					
	 No.
                    
	  		  	$        
		  		  	 CUSIP: 29278N AQ6

		  		  	 ISIN: US29278NAQ60

 ENERGY TRANSFER OPERATING, L.P. 

3.750% SENIOR NOTES DUE 2030 

ENERGY TRANSFER OPERATING, L.P., a Delaware limited partnership (the “Partnership,” which term includes any successor under the
Indenture hereinafter referred to), for value received, hereby promises to pay to                      or its registered assigns, the principal sum
of                      U.S. dollars ($        ), [or such greater or lesser principal sum as is shown on the
attached Schedule of Increases and Decreases in Global Security]*, on May 15, 2030 in such coin and currency of the United States of America as at the time of payment shall be legal
tender for the payment of public and private debts, and to pay interest thereon at an annual rate of 3.750% payable on May 15 and November 15 of each year, to the person in whose name the Security is registered at the close of business on
the record date for such interest, which shall be the preceding May 1 or November 1 (each, a “Regular Record Date”), respectively, payable commencing on May 15, 2020. 

Reference is made to the further provisions of this Security set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
  

 

	* 	 To be included in a Book-Entry Note. 

  
 A-2-1 

 The statements in the legends set forth in this Security are an integral part of the terms
of this Security and by acceptance hereof the Holder of this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such legend. 

This Security is issued in respect of a series of Debt Securities of an initial aggregate principal amount of $1,500,000,000 designated as the
3.750% Senior Notes due 2030 of the Partnership and is governed by the Indenture dated as of June 8, 2018 (the “Base Indenture”), duly executed and delivered by the Partnership, as issuer, certain Subsidiary Guarantors party thereto,
including Sunoco Logistics Partners Operations L.P., a Delaware limited partnership (the “Guarantor”), and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the Fourth Supplemental Indenture dated as
of January 22, 2020 (the “Fourth Supplemental Indenture”, and together with the Base Indenture, the “Indenture”), duly executed by the Partnership, the Guarantor and the Trustee. The terms of the Indenture are incorporated
herein by reference. This Security shall in all respects be entitled to the same benefits as definitive Debt Securities under the Indenture. 

If and to the extent any provision of the Indenture limits, qualifies or conflicts with any other provision of the Indenture that is required
to be included in the Indenture or is deemed applicable to the Indenture by virtue of the provisions of the Trust Indenture Act of 1939, as amended (the “TIA”), such required provision shall control. 

This Security shall not be valid or become obligatory for any purpose until the Trustee’s Certificate of Authentication hereon shall have
been manually signed by the Trustee under the Indenture. 

  
 A-2-2 

 IN WITNESS WHEREOF, the Partnership has caused this instrument to be duly executed by the
general partner of the General Partner. 
 Dated: 
  

			
	ENERGY TRANSFER OPERATING, L.P.
		
	By:	 	Energy Transfer Partners GP, L.P.,
		 	its General Partner
		
	By:	 	Energy Transfer Partners, L.L.C.,
		 	its General Partner
		
	By:	 	  

	Name:	 	Kelcy L. Warren
	Title:	 	Chief Executive Officer
		
	By:	 	  

	Name:	 	Thomas E. Long
	Title:	 	Chief Financial Officer

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	 U.S. BANK NATIONAL ASSOCIATION,

	as Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 A-2-3 

 [REVERSE OF SECURITY] 

ENERGY TRANSFER OPERATING, L.P. 

3.750% SENIOR NOTES DUE 2030 

This Security is one of a duly authorized issue of debentures, notes or other evidences of indebtedness of the Partnership (the “Debt
Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to the Indenture, to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Partnership, the Guarantor and the Holders of the Debt Securities. The Debt Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may
mature at different times, may bear interest (if any) at different rates, may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as provided in the Indenture. This Security is one of a series designated as
the 3.750% Senior Notes due 2030 of the Partnership, in an initial aggregate principal amount of $1,500,000,000 (the “Securities”). 
  

	1.	 Interest. 

The Partnership promises to pay interest on the principal amount of this Security at the rate of 3.750% per annum. 

The Partnership will pay interest semi-annually on May 15 and November 15 of each year (each such date, an “Interest Payment
Date”), commencing May 15, 2020. Interest on the Securities will accrue from the most recent date to which interest has been paid, or, if no interest has been paid on the Securities, from January 22, 2020. Interest will be computed on
the basis of a 360-day year consisting of twelve 30-day months. The Partnership shall pay interest (including post-petition interest in any proceeding under any
applicable bankruptcy laws) on overdue installments of interest (without regard to any applicable grace period) and on overdue principal and premium, if any, from time to time on demand at the same rate per annum, in each case to the extent lawful.

  

	2.	 Method of Payment. 

The Partnership shall pay interest on the Securities (except Defaulted Interest) to the persons who are the registered Holders at the close of
business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for (“Defaulted Interest”) may be paid to the persons who are registered Holders at the close of
business on a special record date for the payment of such Defaulted Interest, or in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may then be listed if such manner of payment shall
be deemed practicable by the Trustee, as more fully provided in the Indenture. The Partnership shall pay principal, premium, if any, and interest in such coin or currency of the United States of America as at the time of payment shall be legal
tender for payment of public and private debts. Payments in respect of a Global Security (including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts specified by the Depositary.
Payments in respect of Securities in definitive form (including principal, premium, if any, and interest) will be made at the office or agency of the Partnership maintained for such purpose within The City of New York, which initially will be at the
corporate trust office of the Trustee located at 100 Wall Street, Suite 

  
 A-2-4 

 
1600, New York, New York 10005, Mail Station: EX-NY-WALL, or, at the option of the Partnership, payment of interest
may be made by check mailed to the Holders on the relevant record date at their addresses set forth in the register of Holders maintained by the Registrar or at the option of the Holder, payment of interest on Securities in definitive form will be
made by wire transfer of immediately available funds to any account maintained in the United States, provided such Holder has requested such method of payment and provided timely wire transfer instructions to the Paying Agent. The Holder must
surrender this Security to a Paying Agent to collect payment of principal. 
  

	3.	 Paying Agent and Registrar. 

Initially, U.S. Bank National Association will act as Paying Agent and Registrar. The Partnership may change any Paying Agent or Registrar at
any time upon notice to the Trustee and the Holders. The Partnership may act as Paying Agent. 
  

	4.	 Indenture. 

This Security is one of a duly authorized issue of Debt Securities of the Partnership issued and to be issued in one or more series under the
Indenture. 
 Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The terms of the Securities
include those stated in the Base Indenture, those made part of the Indenture by reference to the TIA, as in effect on the date of the Base Indenture, and those terms stated in the Fourth Supplemental Indenture. The Securities are subject to all such
terms, and Holders of Securities are referred to the Base Indenture, the Fourth Supplemental Indenture and the TIA for a statement of them. The Securities of this series are general unsecured obligations of the Partnership limited to an initial
aggregate principal amount of $1,500,000,000; provided, however, that the authorized aggregate principal amount of such series may be increased from time to time as provided in the Fourth Supplemental Indenture. 

 

	5.	 Redemption. 

Optional Redemption. Prior to the 2030 Notes Early Call Date, the Securities are redeemable, at the option of the Partnership, at any
time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the Securities to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of
principal and interest (at the interest rate in effect on the date of calculation of the Redemption Price) on the Securities to be redeemed that would be due after the related Redemption Date if such Securities matured on the 2030 Notes Early Call
Date but for such redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 30 basis points; plus, in either case of clause (i) or clause (ii), accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

At any time on or after the 2030 Notes Early Call Date, the Securities are redeemable in whole or in part, at the option of the Partnership,
at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

  
 A-2-5 

 The actual Redemption Price, calculated as provided above, shall be calculated and certified
to the Trustee and the Partnership by the Independent Investment Banker. 
 Except as set forth above, the Securities will not be redeemable
prior to their Stated Maturity and will not be entitled to the benefit of any sinking fund. 
  

	6.	 Denominations; Transfer; Exchange. 

The Securities are to be issued in registered form, without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. A Holder may register the transfer of, or exchange, Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and
fees required by law or permitted by the Indenture. 
  

	7.	 Person Deemed Owners. 

The registered Holder of a Security may be treated as the owner of it for all purposes. 

 

	8.	 Amendment; Supplement; Waiver. 

Subject to certain exceptions, the Indenture may be amended or supplemented, and any existing Event of Default or compliance with any provision
may be waived, with the consent of the Holders of a majority in principal amount of the then outstanding notes of the affected series. Without consent of any Holder of a Security, the parties thereto may amend or supplement the Indenture to, among
other things, cure any ambiguity or omission, to correct any defect or inconsistency, or to make any other change that does not adversely affect the rights of any Holder of a Security. Any such consent or waiver by the Holder of this Security
(unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Security and any Securities which may be issued in exchange or substitution herefor, regardless of whether
any notation thereof is made upon this Security or such other Securities. 
  

	9.	 Defaults and Remedies. 

Certain events of bankruptcy or insolvency are Events of Default that will result in the principal amount of the Securities, together with
premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities occurs and is continuing, then in every such
case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to
be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in
principal amount of the outstanding Securities, by written notice to the Trustee, may rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court of competent jurisdiction and if
all existing Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest which has become due solely by such declaration acceleration, shall have been cured or shall have been waived. No
such rescission shall affect any subsequent default or shall impair any right 

  
 A-2-6 

 
consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it
before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the Trustee in its exercise of any trust or power. 

 

	10.	 Trustee Dealings with Partnership. 

The Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the
Partnership or its Affiliates, and may otherwise deal with the Partnership or its Affiliates as if it were not the Trustee. 
  

	11.	 Authentication. 

This Security shall not be valid until the Trustee signs the certificate of authentication on the other side of this Security. 

 

	12.	 Abbreviations and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Security or an assignee, such as: TEN COM (tenant in common), TEN ENT (tenants
by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (Custodian), and U/G/M/A (Uniform Gifts to Minors Act). 
  

	13.	 CUSIP Numbers. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Partnership has caused CUSIP
numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such number as printed on the Securities and reliance may be placed only on the other identification numbers
printed hereon. 
  

	14.	 Absolute Obligation. 

No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the
Partnership, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Security in the manner, at the respective times, at the rate and in the coin or currency herein prescribed. 

 

	15.	 No Recourse. 

No director, officer, employee, limited partner or member, as such, of the Partnership, the General Partner or Energy Transfer Partners, L.L.C.
shall have any personal liability in respect of the obligations of the Partnership or the Guarantor under the Securities or the Indenture by reason of his, her or its status. Each Holder, by accepting the Securities, waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Securities. 

  
 A-2-7 

	16.	 Governing Law. 

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

 

	17.	 Guarantee. 

The Securities are fully and unconditionally guaranteed on an unsecured, unsubordinated basis by the Guarantor as set forth in Article X of the
Base Indenture, as noted in the Notation of Guarantee affixed to this Security, and under certain circumstances set forth in the Fourth Supplemental Indenture one or more Subsidiaries of the Partnership may be required to join in such Guarantee.

  

	18.	 Reliance. 

The Holder, by accepting this Security, acknowledges and affirms that (i) it has purchased the Security in reliance upon the separateness
of the Guarantor, the general partner of the Guarantor, the General Partner and the general partner of the General Partner from each other and from any other Persons, and (ii) the Guarantor, the general partner of the Guarantor, the General
Partner and the general partner of the General Partner have assets and liabilities that are separate from those of each other and of any other Persons. 

  
 A-2-8 

 NOTATION OF GUARANTEE 

Each of the Subsidiary Guarantors (which term includes any successor Person under the Indenture) has fully, unconditionally and absolutely
guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal of, and premium, if any, and interest on the Debt Securities and all other amounts due and payable
under the Indenture and the Debt Securities by the Partnership. 
 The obligations of the Subsidiary Guarantors to the Holders of Debt
Securities and to the Trustee pursuant to the Guarantee and the Indenture are expressly set forth in Article X of the Base Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

 

			
	 SUNOCO LOGISTICS PARTNERS

OPERATIONS L.P.

		
	By:	 	Sunoco Logistics Partners GP LLC,
		 	its general partner
		
	By:	 	  

	Name:	 	Thomas E. Long
	Title:	 	Chief Financial Officer

  
 A-2-9 

 ABBREVIATIONS 

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

			
	TEN COM - as tenants in common	  	UNIF GIFT MIN ACT -
		  	(Cust.)                            
	TEN ENT - as tenants by entireties	  	Custodian for:
		  	(Minor)                            
	JT TEN - as joint tenants with right of survivorship and not as tenants in common	  	Under Uniform Gifts to Minors Act of
		  	(State)                            

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

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

IDENTIFYING NUMBER OF ASSIGNEE 
 Please print or type name and
address including postal zip code of assignee: 
 the within Security and all rights thereunder, hereby irrevocably constituting and appointing to transfer
said Security on the books of the Partnership, with full power of substitution in the premises. 
  

							
	Dated                     	 		 		 	Registered Holder

  
 A-2-10 

 SCHEDULE OF INCREASES OR DECREASES 

IN GLOBAL SECURITY* 
 The
following increases or decreases in this Global Security have been made: 
  

																	
	 Date of Exchange
	  	Amount of Decrease
in Principal Amount
of this Global
Security	 	  	Amount of Increase
in Principal Amount
of this Global
Security	 	  	Principal Amount of
this Global Security
Following Such
Decrease (or Increase)	 	  	Signature of
Authorized Officer of
Trustee or Depositary	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  

	*	 To be included in a Book-Entry Note. 

  
 A-2-11 

 Exhibit A-3 

FORM OF NOTE 
 [FACE OF
SECURITY] 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) (55 WATER STREET, NEW
YORK, NEW YORK 10041) TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 [TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO HEREIN.]* 
  

			
	No.                    	  	$        

 CUSIP: 29278N AR4 

ISIN: US29278NAR44 
 ENERGY
TRANSFER OPERATING, L.P. 
 5.000% SENIOR NOTES DUE 2050 

ENERGY TRANSFER OPERATING, L.P., a Delaware limited partnership (the “Partnership,” which term includes any successor under the
Indenture hereinafter referred to), for value received, hereby promises to pay to                      or its registered assigns, the principal sum
of                      U.S. dollars ($        ), [or such greater or lesser principal sum as is shown on the
attached Schedule of Increases and Decreases in Global Security]*, on May 15, 2050 in such coin and currency of the United States of America as at the time of payment shall be legal
tender for the payment of public and private debts, and to pay interest thereon at an annual rate of 5.000% payable on May 15 and November 15 of each year, to the person in whose name the Security is registered at the close of business on
the record date for such interest, which shall be the preceding May 1 or November 1 (each, a “Regular Record Date”), respectively, payable commencing on May 15, 2020. 

Reference is made to the further provisions of this Security set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
  

 

	* 	 To be included in a Book-Entry Note. 

  
 A-3-1 

 The statements in the legends set forth in this Security are an integral part of the terms
of this Security and by acceptance hereof the Holder of this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such legend. 

This Security is issued in respect of a series of Debt Securities of an initial aggregate principal amount of $2,000,000,000 designated as the
5.000% Senior Notes due 2050 of the Partnership and is governed by the Indenture dated as of June 8, 2018 (the “Base Indenture”), duly executed and delivered by the Partnership, as issuer, certain Subsidiary Guarantors party thereto,
including Sunoco Logistics Partners Operations L.P., a Delaware limited partnership (the “Guarantor”), and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the Fourth Supplemental Indenture dated as
of January 22, 2020 (the “Fourth Supplemental Indenture”, and together with the Base Indenture, the “Indenture”), duly executed by the Partnership, the Guarantor and the Trustee. The terms of the Indenture are incorporated
herein by reference. This Security shall in all respects be entitled to the same benefits as definitive Debt Securities under the Indenture. 

If and to the extent any provision of the Indenture limits, qualifies or conflicts with any other provision of the Indenture that is required
to be included in the Indenture or is deemed applicable to the Indenture by virtue of the provisions of the Trust Indenture Act of 1939, as amended (the “TIA”), such required provision shall control. 

This Security shall not be valid or become obligatory for any purpose until the Trustee’s Certificate of Authentication hereon shall have
been manually signed by the Trustee under the Indenture. 

  
 A-3-2 

 IN WITNESS WHEREOF, the Partnership has caused this instrument to be duly executed by the
general partner of the General Partner. 
 Dated:         

 

			
	ENERGY TRANSFER OPERATING, L.P.
		
	By:	 	Energy Transfer Partners GP, L.P.,
		 	its General Partner
		
	By:	 	Energy Transfer Partners, L.L.C.,
		 	its General Partner
		
	By:	 	
                     
                    

	Name:	 	Kelcy L. Warren
	Title:	 	Chief Executive Officer
		
	By:	 	
                     
                    

	Name:	 	Thomas E. Long
	Title:	 	Chief Financial Officer

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	U.S. BANK NATIONAL ASSOCIATION,
	 as
Trustee                                        

		
	By:	 	  

		 	Authorized Signatory

  
 A-3-3 

 [REVERSE OF SECURITY] 

ENERGY TRANSFER OPERATING, L.P. 

5.000% SENIOR NOTES DUE 2050 

This Security is one of a duly authorized issue of debentures, notes or other evidences of indebtedness of the Partnership (the “Debt
Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to the Indenture, to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Partnership, the Guarantor and the Holders of the Debt Securities. The Debt Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may
mature at different times, may bear interest (if any) at different rates, may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as provided in the Indenture. This Security is one of a series designated as
the 5.000% Senior Notes due 2050 of the Partnership, in an initial aggregate principal amount of $2,000,000,000 (the “Securities”). 

1.    Interest. 
 The
Partnership promises to pay interest on the principal amount of this Security at the rate of 5.000% per annum. 
 The Partnership will pay
interest semi-annually on May 15 and November 15 of each year (each such date, an “Interest Payment Date”), commencing May 15, 2020. Interest on the Securities will accrue from the most recent date to which interest has been
paid, or, if no interest has been paid on the Securities, from January 22, 2020. Interest will be computed on the basis of a 360-day year consisting of twelve
30-day months. The Partnership shall pay interest (including post-petition interest in any proceeding under any applicable bankruptcy laws) on overdue installments of interest (without regard to any applicable
grace period) and on overdue principal and premium, if any, from time to time on demand at the same rate per annum, in each case to the extent lawful. 
  

	2.    Method	 of Payment. 

The Partnership shall pay interest on the Securities (except Defaulted Interest) to the persons who are the registered Holders at the close of
business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for (“Defaulted Interest”) may be paid to the persons who are registered Holders at the close of
business on a special record date for the payment of such Defaulted Interest, or in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may then be listed if such manner of payment shall
be deemed practicable by the Trustee, as more fully provided in the Indenture. The Partnership shall pay principal, premium, if any, and interest in such coin or currency of the United States of America as at the time of payment shall be legal
tender for payment of public and private debts. Payments in respect of a Global Security (including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts specified by the Depositary.
Payments in respect of Securities in definitive form (including principal, premium, if any, and interest) will be made at the office or agency of the Partnership maintained for such purpose within The City of New York, which initially will be at the
corporate trust office of the Trustee located at 100 Wall Street, Suite 

  
 A-3-4 

 
1600, New York, New York 10005, Mail Station: EX-NY-WALL, or, at the option of the Partnership, payment of interest
may be made by check mailed to the Holders on the relevant record date at their addresses set forth in the register of Holders maintained by the Registrar or at the option of the Holder, payment of interest on Securities in definitive form will be
made by wire transfer of immediately available funds to any account maintained in the United States, provided such Holder has requested such method of payment and provided timely wire transfer instructions to the Paying Agent. The Holder must
surrender this Security to a Paying Agent to collect payment of principal. 
  

	3.    Paying	 Agent and Registrar. 

Initially, U.S. Bank National Association will act as Paying Agent and Registrar. The Partnership may change any Paying Agent or Registrar at
any time upon notice to the Trustee and the Holders. The Partnership may act as Paying Agent. 
 4.    Indenture. 

This Security is one of a duly authorized issue of Debt Securities of the Partnership issued and to be issued in one or more series under the
Indenture. 
 Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The terms of the Securities
include those stated in the Base Indenture, those made part of the Indenture by reference to the TIA, as in effect on the date of the Base Indenture, and those terms stated in the Fourth Supplemental Indenture. The Securities are subject to all such
terms, and Holders of Securities are referred to the Base Indenture, the Fourth Supplemental Indenture and the TIA for a statement of them. The Securities of this series are general unsecured obligations of the Partnership limited to an initial
aggregate principal amount of $2,000,000,000; provided, however, that the authorized aggregate principal amount of such series may be increased from time to time as provided in the Fourth Supplemental Indenture. 

 

	5.    Redemption.	 

Optional Redemption. Prior to the 2050 Notes Early Call Date, the Securities are redeemable, at the option of the Partnership, at any
time in whole, or from time to time in part, at a Redemption Price equal to the greater of: (i) 100% of the principal amount of the Securities to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of
principal and interest (at the interest rate in effect on the date of calculation of the Redemption Price) on the Securities to be redeemed that would be due after the related Redemption Date if such Securities matured on the 2050 Notes Early Call
Date but for such redemption (exclusive of interest accrued to, but excluding, the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 40 basis points; plus, in either case of clause (i) or clause (ii), accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

At any time on or after the 2050 Notes Early Call Date, the Securities are redeemable in whole or in part, at the option of the Partnership,
at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

  
 A-3-5 

 The actual Redemption Price, calculated as provided above, shall be calculated and certified
to the Trustee and the Partnership by the Independent Investment Banker. 
 Except as set forth above, the Securities will not be redeemable
prior to their Stated Maturity and will not be entitled to the benefit of any sinking fund. 
  

	6.    Denominations;	 Transfer; Exchange. 

The Securities are to be issued in registered form, without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. A Holder may register the transfer of, or exchange, Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and
fees required by law or permitted by the Indenture. 
  

	7.    Person	 Deemed Owners. 

The registered Holder of a Security may be treated as the owner of it for all purposes. 

 

	8.    Amendment;	 Supplement; Waiver. 

Subject to certain exceptions, the Indenture may be amended or supplemented, and any existing Event of Default or compliance with any provision
may be waived, with the consent of the Holders of a majority in principal amount of the then outstanding notes of the affected series. Without consent of any Holder of a Security, the parties thereto may amend or supplement the Indenture to, among
other things, cure any ambiguity or omission, to correct any defect or inconsistency, or to make any other change that does not adversely affect the rights of any Holder of a Security. Any such consent or waiver by the Holder of this Security
(unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Security and any Securities which may be issued in exchange or substitution herefor, regardless of whether
any notation thereof is made upon this Security or such other Securities. 
  

	9.    Defaults	 and Remedies. 

Certain events of bankruptcy or insolvency are Events of Default that will result in the principal amount of the Securities, together with
premium, if any, and accrued and unpaid interest thereon, becoming due and payable immediately upon the occurrence of such Events of Default. If any other Event of Default with respect to the Securities occurs and is continuing, then in every such
case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal amount of all the Securities, together with premium, if any, and accrued and unpaid interest thereon, to
be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding sentence, however, if at any time after such a declaration of acceleration has been made, the Holders of a majority in
principal amount of the outstanding Securities, by written notice to the Trustee, may rescind such declaration and annul its consequences if the rescission would not conflict with any judgment or decree of a court of competent jurisdiction and if
all existing Events of Default with respect to the Securities, other than the nonpayment of the principal, premium, if any, or interest which has become due solely by such declaration acceleration, shall have been cured or shall have been waived. No
such rescission shall affect any subsequent default or shall impair any right 

  
 A-3-6 

 
consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity or security satisfactory to it
before it enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the Trustee in its exercise of any trust or power. 

 

	10.    Trustee	 Dealings with Partnership. 

The Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the
Partnership or its Affiliates, and may otherwise deal with the Partnership or its Affiliates as if it were not the Trustee. 
  

	11.    Authentication.	 

This Security shall not be valid until the Trustee signs the certificate of authentication on the other side of this Security. 

 

	12.    Abbreviations	 and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Security or an assignee, such as: TEN COM (tenant in common), TEN ENT (tenants
by the entireties), JT TEN (joint tenants with right of survivorship and not as tenants in common), CUST (Custodian), and U/G/M/A (Uniform Gifts to Minors Act). 
  

	13.    CUSIP	 Numbers. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Partnership has caused CUSIP
numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such number as printed on the Securities and reliance may be placed only on the other identification numbers
printed hereon. 
  

	14.    Absolute	 Obligation. 

No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the
Partnership, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Security in the manner, at the respective times, at the rate and in the coin or currency herein prescribed. 

 

	15.    No	 Recourse. 

No director, officer, employee, limited partner or member, as such, of the Partnership, the General Partner or Energy Transfer Partners, L.L.C.
shall have any personal liability in respect of the obligations of the Partnership or the Guarantor under the Securities or the Indenture by reason of his, her or its status. Each Holder, by accepting the Securities, waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Securities. 

  
 A-3-7 

	16.    Governing	 Law. 

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

 

	17.    Guarantee.	 

The Securities are fully and unconditionally guaranteed on an unsecured, unsubordinated basis by the Guarantor as set forth in Article X of the
Base Indenture, as noted in the Notation of Guarantee affixed to this Security, and under certain circumstances set forth in the Fourth Supplemental Indenture one or more Subsidiaries of the Partnership may be required to join in such Guarantee.

  

	18.    Reliance.	 

The Holder, by accepting this Security, acknowledges and affirms that (i) it has purchased the Security in reliance upon the separateness
of the Guarantor, the general partner of the Guarantor, the General Partner and the general partner of the General Partner from each other and from any other Persons, and (ii) the Guarantor, the general partner of the Guarantor, the General
Partner and the general partner of the General Partner have assets and liabilities that are separate from those of each other and of any other Persons. 

  
 A-3-8 

 NOTATION OF GUARANTEE 

Each of the Subsidiary Guarantors (which term includes any successor Person under the Indenture) has fully, unconditionally and absolutely
guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal of, and premium, if any, and interest on the Debt Securities and all other amounts due and payable
under the Indenture and the Debt Securities by the Partnership. 
 The obligations of the Subsidiary Guarantors to the Holders of Debt
Securities and to the Trustee pursuant to the Guarantee and the Indenture are expressly set forth in Article X of the Base Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

 

			
	 SUNOCO LOGISTICS PARTNERS

OPERATIONS L.P.

		
	By:	 	Sunoco Logistics Partners GP LLC,
		 	its general partner
		
	By:	 	
                     
                    

	Name:	 	Thomas E. Long
	Title:	 	Chief Financial Officer

  
 A-3-9 

 ABBREVIATIONS 

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

			
	TEN COM - as tenants in common	  	UNIF GIFT MIN ACT -
		  	 (Cust.)

	TEN ENT - as tenants by entireties	  	Custodian for:
		  	 (Minor)

	JT TEN - as joint tenants with right of survivorship and not as tenants in common	  	Under Uniform Gifts to Minors Act of
		  	 (State)

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

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

IDENTIFYING NUMBER OF ASSIGNEE 
 Please print or type name and
address including postal zip code of assignee: 
 the within Security and all rights thereunder, hereby irrevocably constituting and appointing to transfer
said Security on the books of the Partnership, with full power of substitution in the premises. 
  

			
	Dated	  	Registered Holder

  
 A-3-10 

 SCHEDULE OF INCREASES OR DECREASES 

IN GLOBAL SECURITY* 
 The
following increases or decreases in this Global Security have been made: 
  

																	
	 Date of Exchange
	  	Amount of Decrease
in Principal Amount
of this Global
Security	 	  	Amount of Increase
in Principal Amount
of this Global
Security	 	  	Principal Amount of
this Global Security
Following Such
Decrease (or Increase)	 	  	Signature of
Authorized Officer of
Trustee or Depositary	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  

	*	 To be included in a Book-Entry Note. 

  
 A-3-11

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