Document:

EX-4.1

EXHIBIT 4.1

JUNIOR SUBORDINATED INDENTURE

between

DEERFIELD CAPITAL CORP.

and

THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION,

as Trustee

Dated as of March 4, 2010

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ARTICLE IDEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 1
	 	 	 	 	 	 	 	 
	Section 1.1.
	 	Definitions	 	 	1	 	 	 	 	 
	Section 1.2.
	 	Compliance Certificate and Opinions	 	 	17	 	 	 	 	 
	Section 1.3.
	 	Forms of Documents Delivered to Trustee	 	 	17	 	 	 	 	 
	Section 1.4.
	 	Acts of Holders	 	 	18	 	 	 	 	 
	Section 1.5.
	 	Notices, Etc	 	 	20	 	 	 	 	 
	Section 1.6.
	 	Notice to Holders; Waiver	 	 	21	 	 	 	 	 
	Section 1.7.
	 	Effect of Headings and Table of Contents	 	 	21	 	 	 	 	 
	Section 1.8.
	 	Successors and Assigns	 	 	21	 	 	 	 	 
	Section 1.9.
	 	Separability Clause	 	 	21	 	 	 	 	 
	Section 1.10.
	 	Benefits of Indenture	 	 	21	 	 	 	 	 
	Section 1.11.
	 	Governing Law	 	 	22	 	 	 	 	 
	Section 1.12.
	 	Submission to Jurisdiction	 	 	22	 	 	 	 	 
	Section 1.13.
	 	Non-Business Days	 	 	22	 	 	 	 	 
	Section 1.14.
	 	Termination of Modification Period	 	 	22	 	 	 	 	 
	Section 1.15.
	 	Account	 	 	22	 	 	 	 	 
	ARTICLE IISECURITY FORMS
	 	 	23	 	 	 	 	 
	Section 2.1.
	 	Form of Security	 	 	23	 	 	 	 	 
	Section 2.2.
	 	Restricted Legend	 	 	27	 	 	 	 	 
	Section 2.3.
	 	Form of Trustee’s Certificate of Authentication	 	 	29	 	 	 	 	 
	Section 2.4.
	 	Temporary Securities	 	 	29	 	 	 	 	 
	Section 2.5.
	 	Definitive Securities	 	 	30	 	 	 	 	 
	ARTICLE IIITHE SECURITIES
	 	 	30	 	 	 	 	 
	Section 3.1.
	 	Payment of Principal and Interest	 	 	30	 	 	 	 	 
	Section 3.2.
	 	Denominations	 	 	32	 	 	 	 	 
	Section 3.3.
	 	Execution, Authentication, Delivery and Dating	 	 	32	 	 	 	 	 
	Section 3.4.
	 	Global Securities	 	 	33	 	 	 	 	 
	Section 3.5.
	 	Registration, Transfer and Exchange Generally	 	 	35	 	 	 	 	 
	Section 3.6.
	 	Mutilated, Destroyed, Lost and Stolen Securities	 	 	36	 	 	 	 	 
	Section 3.7.
	 	Persons Deemed Owners	 	 	37	 	 	 	 	 
	Section 3.8.
	 	Cancellation	 	 	37	 	 	 	 	 
	Section 3.9.
	 	Reserved	 	 	38	 	 	 	 	 
	Section 3.10.
	 	Reserved	 	 	38	 	 	 	 	 
	Section 3.11.
	 	Agreed Tax Treatment	 	 	38	 	 	 	 	 
	Section 3.12.
	 	CUSIPNumbers	 	 	38	 	 	 	 	 
	ARTICLE IVSATISFACTION AND DISCHARGE
	 	 	38	 	 	 	 	 
	Section 4.1.
	 	Satisfaction and Discharge of Indenture	 	 	38	 	 	 	 	 
	Section 4.2.
	 	Application of Trust Money	 	 	39	 	 	 	 	 
	ARTICLE VREMEDIES
	 	 	 	 	 	 	40	 	 	 	 	 
	Section 5.1.
	 	Events of Default	 	 	40	 	 	 	 	 
	Section 5.2.
	 	Acceleration of Maturity; Rescission and Annulment	 	 	41	 	 	 	 	 
	Section 5.3.
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	 	 	42	 	 	 	 	 
	Section 5.4.
	 	Trustee May File Proofs of Claim	 	 	42	 	 	 	 	 
	Section 5.5.
	 	Trustee May Enforce Claim Without Possession of Securities	 	 	43	 	 	 	 	 
	Section 5.6.
	 	Application of Money Collected	 	 	43	 	 	 	 	 
	Section 5.7.
	 	Limitation on Suits	 	 	43	 	 	 	 	 

	 	 	 	Section 5.8. Unconditional Right of Holders to Receive Principal, Premium, if any,
and Interest 44	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Section 5.9.
	 	Restoration of Rights and Remedies	 	 	44	 	 	 	 	 
	Section 5.10.
	 	Rights and Remedies Cumulative	 	 	44	 	 	 	 	 
	Section 5.11.
	 	Delay or Omission Not Waiver	 	 	44	 	 	 	 	 
	Section 5.12.
	 	Control by Holders	 	 	45	 	 	 	 	 
	Section 5.13.
	 	Waiver of Past Defaults	 	 	45	 	 	 	 	 
	Section 5.14.
	 	Undertaking for Costs	 	 	46	 	 	 	 	 
	Section 5.15.
	 	Waiver of Usury, Stay or Extension Laws	 	 	46	 	 	 	 	 
	ARTICLE VITHE TRUSTEE
	 	 	 	 	 	 	46	 	 	 	 	 
	Section 6.1.
	 	Corporate Trustee Required	 	 	46	 	 	 	 	 
	Section 6.2.
	 	Certain Duties and Responsibilities	 	 	46	 	 	 	 	 
	Section 6.3.
	 	Notice of Defaults	 	 	48	 	 	 	 	 
	Section 6.4.
	 	Certain Rights of Trustee	 	 	48	 	 	 	 	 
	Section 6.5.
	 	May Hold Securities	 	 	50	 	 	 	 	 
	Section 6.6.
	 	Compensation; Reimbursement; Indemnity	 	 	50	 	 	 	 	 
	Section 6.7.
	 	Resignation and Removal; Appointment of Successor	 	 	51	 	 	 	 	 
	Section 6.8.
	 	Acceptance of Appointment by Successor	 	 	52	 	 	 	 	 
	Section 6.9.
	 	Merger, Conversion, Consolidation or Succession to Business	 	 	52	 	 	 	 	 
	Section 6.10.
	 	Not Responsible for Recitals or Issuance of Securities	 	 	53	 	 	 	 	 
	Section 6.11.
	 	Appointment of Authenticating Agent	 	 	53	 	 	 	 	 
	ARTICLE VIIHOLDER’S LISTS AND REPORTS BY COMPANY
	 	 	54	 	 	 	 	 
	Section 7.1.
	 	Company to Furnish Trustee Names and Addresses of Holders	 	 	54	 	 	 	 	 
	Section 7.2.
	 	Preservation of Information, Communications to Holders	 	 	54	 	 	 	 	 
	Section 7.3.
	 	Reports by Company	 	 	55	 	 	 	 	 
	ARTICLE VIIICONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	 	 	 	 	 	 	56	 
	Section 8.1.
	 	Company May Consolidate, Etc., Only on Certain Terms	 	 	56	 	 	 	 	 
	Section 8.2.
	 	Successor Company Substituted	 	 	56	 	 	 	 	 
	ARTICLE IXSUPPLEMENTAL INDENTURES
	 	 	57	 	 	 	 	 
	Section 9.1.
	 	Supplemental Indentures without Consent of Holders	 	 	57	 	 	 	 	 
	Section 9.2.
	 	Supplemental Indentures with Consent of Holders	 	 	58	 	 	 	 	 
	Section 9.3.
	 	Execution of Supplemental Indentures	 	 	58	 	 	 	 	 
	Section 9.4.
	 	Effect of Supplemental Indentures	 	 	59	 	 	 	 	 
	Section 9.5.
	 	Reference in Securities to Supplemental Indentures	 	 	59	 	 	 	 	 
	ARTICLE XCOVENANTS
	 	 	 	 	 	 	59	 	 	 	 	 
	Section 10.1.
	 	Payment of Principal, Premium, if any, and Interest	 	 	59	 	 	 	 	 
	Section 10.2.
	 	Money for Security Payments to be Held in Trust	 	 	59	 	 	 	 	 
	Section 10.3.
	 	Statement as to Compliance	 	 	60	 	 	 	 	 
	Section 10.4.
	 	Calculation Agent	 	 	61	 	 	 	 	 
	Section 10.5.
	 	Reserved	 	 	61	 	 	 	 	 
	Section 10.6.
	 	Additional Covenants	 	 	61	 	 	 	 	 
	Section 10.7.
	 	Waiver of Covenants	 	 	62	 	 	 	 	 
	Section 10.8.
	 	Treatment of Securities	 	 	62	 	 	 	 	 
	Section 10.9.
	 	Asset Management and Management Company Covenants	 	 	62	 	 	 	 	 
	Section 10.10.
	 	Seller Notes	 	 	63	 	 	 	 	 
	Section 10.11.
	 	Further Additional Covenants	 	 	63	 	 	 	 	 
	Section 10.12.
	 	Inspections	 	 	65	 	 	 	 	 
	Section 10.13.
	 	Maintenance of Corporate Tax Status	 	 	65	 	 	 	 	 
	ARTICLE XIREDEMPTION OF SECURITIES
	 	 	65	 	 	 	 	 
	Section 11.1.
	 	Optional Redemption	 	 	65	 	 	 	 	 
	Section 11.2.
	 	Special Event Redemption	 	 	66	 	 	 	 	 
	Section 11.3.
	 	Election to Redeem; Notice to Trustee	 	 	66	 	 	 	 	 
	Section 11.4.
	 	Selection of Securities to be Redeemed	 	 	66	 	 	 	 	 
	Section 11.5.
	 	Notice of Redemption	 	 	67	 	 	 	 	 
	Section 11.6.
	 	Deposit of Redemption Price	 	 	68	 	 	 	 	 
	Section 11.7.
	 	Payment of Securities Called for Redemption	 	 	68	 	 	 	 	 
	ARTICLE XIISUBORDINATION OF SECURITIES
	 	 	68	 	 	 	 	 
	Section 12.1.
	 	Securities Subordinate to Senior Debt	 	 	68	 	 	 	 	 

	 	 	 	Section 12.2. No Payment When Senior Debt in Default; Payment Over of Proceeds Upon
Dissolution, Etc 69	 

	 	 	 	 	 	 	 	 	 
	Section 12.3.
	 	Payment Permitted If No Default	 	 	70	 
	Section 12.4.
	 	Subrogation to Rights of Holders of Senior Debt	 	 	70	 
	Section 12.5.
	 	Provisions Solely to Define Relative Rights	 	 	71	 
	Section 12.6.
	 	Trustee to Effectuate Subordination	 	 	71	 
	Section 12.7.
	 	No Waiver of Subordination Provisions	 	 	71	 
	Section 12.8.
	 	Notice to Trustee	 	 	72	 
	Section 12.9.
	 	Reliance on Judicial Order or Certificate of Liquidating Agent	 	 	73	 
	Section 12.10.
	 	Trustee Not Fiduciary for Holders of Senior Debt	 	 	73	 

	 	 	 	Section 12.11. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee’s
Rights 73	 

	 	 	 	 	 	 	 	 	 
	Section 12.12.
	 	Article Applicable to Paying Agents	 	 	73	 
	Section 12.13.
	 	Article Applicable to Shareholders Act	 	 	73	 

SCHEDULES AND EXHIBITS

	 	 	 	 	 
	Schedule A

Schedule B

Exhibit A

	 	-

-

-
	 	Determination of LIBOR

Indebtedness

Form of Officer’s Financial Certificate

JUNIOR SUBORDINATED INDENTURE, dated as of March 4, 2010, between DEERFIELD CAPITAL
CORP., a Maryland corporation (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY,
National Association, a national banking association, as Trustee (in such capacity, the “Trustee”).

RECITALS OF THE COMPANY

WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance of its unsecured junior subordinated notes (the “Securities”), and to
provide the terms and conditions upon which the Securities are to be authenticated, issued and
delivered; and

WHEREAS, 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 covenanted and agreed, for the equal and proportionate benefit of all
Holders of the Securities, as follows:

ARTICLE I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

Section 1.1. Definitions.

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

(a) the terms defined in this Article I have the meanings assigned to them in this
Article I;

(b) the words “include”, “includes” and “including” shall be deemed to be followed by the
phrase “without limitation”;

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

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

(e) the words “hereby”, “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;

(f) a reference to the singular includes the plural and vice versa;

(g) the masculine, feminine or neuter genders used herein shall include the masculine,
feminine and neuter genders; and

(h) a reference to any agreement, document or instrument is a reference to that agreement,
document or instrument as it may be amended, supplemented or otherwise modified from time to time.

“Act” when used with respect to any Holder, has the meaning specified in Section 1.4.

“Additional Interest” means the interest, if any, that shall accrue on any amounts payable on
the Securities, the payment of which has not been made on the applicable Interest Payment Date and
which shall accrue at the rate per annum specified or determined as specified in such Security, in
each case to the extent legally enforceable.

“Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For the
purposes of this definition, “control,” when used with respect to any specified Person, means the
power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. Notwithstanding anything to the contrary
contained herein, having a minority representation on any board of directors shall not in and of
itself constitute “control”.

“Applicable Depositary Procedures” means, with respect to any transfer or transaction
involving a Global Security or beneficial interest therein, the rules and procedures of the
Depositary for such Security, in each case to the extent applicable to such transaction and as in
effect from time to time.

“Attributable Indebtedness” means, when used with respect to any sale and leaseback
transaction, as at the time of determination, the present value (discounted at a rate equivalent to
the Company’s or its Subsidiary’s, as applicable, then-current weighted average cost of funds for
borrowed money as at the time of determination, compounded on a semi-annual basis) of the total
obligations of the lessee for rental payments during the remaining term of the lease included in
any such sale and leaseback transaction.

“Authenticating Agent” means any Person authorized by the Trustee pursuant to
Section 6.11 to act on behalf of the Trustee to authenticate the Securities.

“Board of Directors” means the board of directors of the Company or any duly authorized
committee of that board.

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect on the date of such certification.

“Business Day” means any day other than (i) a Saturday or Sunday, (ii) a day on which banking
institutions in the City of New York are authorized or required by law or executive order to remain
closed or (iii) a day on which the Corporate Trust Office of the Trustee is closed for business.

“Calculation Agent” has the meaning specified in Section 10.4.

“Capital Lease” means, as applied to any Person, any lease of any property (whether real,
personal or mixed) by that Person as lessee that, in accordance with GAAP, is or should be
accounted for as a capital lease on the balance sheet of that Person.

“Capital Stock” means, with respect to any Person, any and all shares, interests,
participations or other equivalents, including membership interests (however designated, whether
voting or nonvoting), of equity of such Person, including, if such Person is a partnership,
partnership interests (whether general or limited) and any other interest or participation that
confers on a Person the right to receive a share of the profits and losses of, or distributions of
property of, such partnership, whether outstanding on the date hereof or issued hereafter;
provided, however, Capital Stock shall not include any indebtedness, warrant,
option or right that is convertible into or exchangeable into Capital Stock until such time that
such indebtedness, warrant, option or right is actually so converted or exchanged into Capital
Stock.

“Cash” means Money or a credit balance in a Deposit Account.

“Code” means the Internal Revenue Code of 1986, as amended.

“Commission” has the meaning specified in Section 7.3(c).

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

“Company Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated
Company Debt to (b) Consolidated EBITDA of the Company and its Subsidiaries for the last four
fiscal quarters of the Company ending on, or most recently before, such date, provided that such
ratio shall be calculated after giving pro forma effect to any acquisitions, dispositions, mergers
or combinations by the Company and its Subsidiaries.

“Company Request” and “Company Order” mean, respectively, the written request or order signed
in the name of the Company by its Chairman of the Board of Directors, its Vice Chairman of the
Board of Directors, its Chief Executive Officer, President or a Vice President, and by its Chief
Financial Officer, its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary,
and delivered to the Trustee.

“Conflict” or “Conflicting” means, with respect to any Contractual Obligation, Organizational
Document, Requirement of Law, Consent or Other Action or any other item, any conflict with, breach
of or default under, or any triggering of any remedial rights, benefits, or obligations under or in
connection with, the terms of such item.

“Consent(s) and/or Other Action” means any consent, authorization, Judgment, directive,
approval, license, certificate, registration, permit, exemption, filing, notice, declaration or
other action by, with or to any Person.

“Consolidated Amortization Expense” shall mean, for any period, the amortization expense of
the Company and its Subsidiaries (including discount amortization on investments, loans and debt
issuance) for such period, determined on a consolidated basis in accordance with GAAP.

“Consolidated Company Debt” means, for the Company and its Subsidiaries, as of any date of
determination, the aggregate principal amount of Indebtedness of the type specified in clauses (a),
(b), (d), (e) and (f) of the definition of “Indebtedness” and non-contingent obligations of the
type specified in clause (c) of such definition, less any such Indebtedness permitted under
Section 10.11(a).

“Consolidated Depreciation Expense” shall mean, for any period, the depreciation expense of
the Company and its Subsidiaries for such period, determined on a consolidated basis in accordance
with GAAP.

“Consolidated EBITDA” means, for any period, Consolidated Net Income of the Company and its
Subsidiaries for such period, adjusted by (x) adding thereto, in each case only to the extent (and
in the same proportion) deducted in determining such Consolidated Net Income and without
duplication (and with respect to the portion of Consolidated Net Income attributable to any
Subsidiary of the Company only if a corresponding amount would be permitted at the date of
determination to be distributed to the Company by such Subsidiary without prior approval (that has
not been obtained), pursuant to the terms of its Organization Documents and all Contractual
Obligations and Requirements of Law applicable to such Subsidiary or its equity holders): (a)
Consolidated Interest Expense for such period; (b) Consolidated Amortization Expense for such
period; (c) Consolidated Depreciation Expense for such period; (d) Consolidated Tax Expense for
such period; (e) costs and expenses incurred in connection with any acquisition and other one-time
or non-recurring charges; (f) non-cash stock or option based compensation; and (g) the aggregate
amount of all other non-cash charges reducing Consolidated Net Income (excluding any non-cash
charge that results in an accrual of a reserve for cash charges in any future period) for such
period, and (y) subtracting therefrom, only to the extent (and in the same proportion) included in
determining such Consolidated Net Income and without duplication the aggregate amount of all
non-cash items (other than any pay-in-kind interest, pay-in-kind dividends, capitalized interest
and similar non-cash interest and dividends payable on, or in connection with, Financial Assets)
increasing Consolidated Net Income, including any non-cash gains on the sale of Investments (other
than the accrual of revenue or recording of receivables in the ordinary course of business) for
such period. It is agreed that a reduction in the carrying value of an asset (whether through
write-down or write-off or increase in a loan loss or other valuation reserve) constitutes a
non-cash item for purposes of this definition.

“Consolidated Interest Expense” means for any period, the total consolidated interest expense
of the Company and its Subsidiaries for such period with respect to Consolidated Company Debt plus,
without duplication: (a) imputed interest on obligations under any Capital Lease and Attributable
Indebtedness of the Company and its Subsidiaries for such period; (b) commissions, discounts and
other fees and charges owed by the Company or any of its Subsidiaries with respect to letters of
credit securing financial obligations, bankers’ acceptance financing and receivables financings for
such period; (c) amortization of debt issuance costs, debt discount or premium and other financing
fees and expenses incurred by the Company or any of its Subsidiaries for such period; (d) all
interest paid or payable with respect to discontinued operations of the Company or any of its
Subsidiaries for such period; (e) the interest portion of any deferred payment obligations of the
Company or any of its Subsidiaries for such period; and (f) all interest on any Indebtedness of the
Company or any of its Subsidiaries of the type described in clause (g) or (h) of the definition of
“Indebtedness” for such period.

“Consolidated Net Income” means for any period, the consolidated net income (or loss) of any
Person and its Subsidiaries for such period, determined on a consolidated basis in accordance with
GAAP; provided that in calculating Consolidated Net Income of the Company and its
Subsidiaries for any period, there shall be excluded (a) the income (or deficit) of any Person
(other than a Subsidiary of the Company or the Company) in which the Company or any of its
Subsidiaries has an ownership interest, except to the extent that any such income is actually
received by the Company or such Subsidiary in the form of dividends or similar distributions and
(b) the income (or deficit) of, but not any actual cash dividends received from, any Subsidiary of
the Company, if a corresponding amount would not be permitted at the date of determination to be
distributed to the Company by such Subsidiary without prior approval (that has not been obtained),
pursuant to the terms of its Organizational Documents and all Contractual Obligations (other than
under any document in relation to the Seller Notes (or any refinancing thereof), the Securities,
the Trust I Indenture or the Original Subordinated Notes) and Requirements of Law applicable to
such Subsidiary or its equity holders) provided further that in calculating Consolidated Net Income
of the Company and its Subsidiaries for any period, there shall be included the income (or deficit)
of any Person accrued prior to the date it becomes a Subsidiary of the Company or is merged into or
consolidated with the Company or any of its Subsidiaries.

“Consolidated Net Worth” means, at any date, the aggregate equity of the Company, the Company
and their Subsidiaries on a consolidated basis determined in accordance with GAAP (which equity
shall include any preferred stock issued by the Company or the Company or any of their Subsidiaries
so long as such preferred stock is subordinate and subject in right of payment to the prior payment
in full of all Senior Debt and the Securities).

“Consolidated Tax Expense” shall mean, for any period, the tax expense of the Company and its
Subsidiaries, for such period, determined on a consolidated basis in accordance with GAAP.

“Contractual Obligations” means, as to any Person, any provision of any security issued by
such Person or of any agreement, instrument or other undertaking to which such Person is a party or
by which its property is bound.

“Control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability to exercise voting
power, by contract or otherwise, and the terms “Controlling” and “Controlled” shall have meanings
correlative thereto.

“Corporate Trust Office” means the principal office of the Trustee at which at any particular
time its corporate trust business shall be administered, which office at the date of this Indenture
is located at 601 Travis Street, 16th Floor, Houston, Texas 77002 Attn: Global Corporate
Trust – Deerfield Capital Corp. All notices and correspondence to the Trustee hereunder shall be
initially addressed to Mudassir Mohamed, telephone number (713) 483-6029.

“Credit Enhancement Failure” has the meaning specified in Section 1.14.

“Credit Enhancing Transaction” means one or more transactions that in the aggregate result in
the repayment or refinancing of the Seller Notes upon terms that improve the credit position of the
Holders of the Securities by satisfying all of the following conditions: (i) increased pro forma
interest coverage; (ii) reduced pro forma debt-to-equity ratio; (iii) the aggregate principal
amount of any Permitted Refinancing Indebtedness is less than the aggregate principal amount of the
Seller Notes; and (iv) after such transaction(s), the pro forma GAAP consolidated net worth of the
Company is either positive or has improved. The Company has provided to the Holders the amounts of
the ratios and/or calculations. Any ratios and/or calculations required in relation to determining
whether a Credit Enhancing Transaction has occurred will be calculated in the same manner.

“Debt” means, with respect to any Person, whether recourse is to all or a portion of the
assets of such Person, whether currently existing or hereafter incurred and whether or not
contingent and without duplication, (i) every obligation of such Person for money borrowed; (ii)
every obligation of such Person evidenced by bonds, debentures, notes or other similar instruments,
including obligations incurred in connection with the acquisition of property, assets or
businesses; (iii) every reimbursement obligation of such Person with respect to letters of credit,
bankers’ acceptances or similar facilities issued for the account of such Person; (iv) every
obligation of such Person issued or assumed as the deferred purchase price of property or services
(but excluding trade accounts payable or other accrued liabilities arising in the ordinary course
of business); (v) every capital lease obligation of such Person; (vi) all indebtedness of such
Person, whether incurred on or prior to the date of this Indenture or thereafter incurred, for
claims in respect of derivative products, including interest rate, foreign exchange rate and
commodity forward contracts, options and swaps and similar arrangements; (vii) every obligation of
the type referred to in clauses (i) through (vi) of another Person and all dividends of another
Person the payment of which, in either case, such Person has guaranteed or is responsible or liable
for, directly or indirectly, as obligor or otherwise; and (viii) any renewals, extensions,
refundings, amendments or modifications of any obligation of the types referred to in clauses (i)
through (vii).

“Deerfield & Co.” means Deerfield & Company LLC, a Delaware limited liability company

“Deerfield Special Purpose Entities” means (i) Bridgeport CLO Ltd., Bridgeport CLO II Ltd.,
Buckingham CDO Ltd., Buckingham CDO II Ltd., Buckingham CDO III Ltd., Burr Ridge CLO Plus Ltd., DFR
Middle Market CLO Ltd., DWFC, LLC, Coltrane CLO P.L.C., Cumberland II CLO Ltd., Forest Creek CLO
Ltd., Gillespie CLO PLC, Knollwood CDO Ltd., Knollwood CDO II Ltd., Long Grove CLO Ltd., Market
Square CLO Ltd., Marquette Park CLO Ltd., Mid Ocean CBO 2000-1 Ltd., Mid Ocean CBO 2001-1 Ltd.,
NorthLake CDO I, Limited, Oceanview CBO I, Ltd., Pinetree CDO Ltd., River North CDO Ltd., Rosemont
CLO, Ltd., Schiller Park CLO Ltd., Valeo Investment Grade CDO Ltd., and Valeo Investment Grade CDO
II Ltd., and (ii) any Person in which the Company or any of its Subsidiaries made or maintains an
investment and (x) to which the Company or any of its Subsidiaries provides investment management
services or (y) which is directly or indirectly Controlled by the Company.

“Defaulted Interest” has the meaning specified in Section 3.1.

“Deposit Account” shall have the meaning accorded to such term in the UCC.

“Depositary” means an organization registered as a clearing agency under the Exchange Act that
is designated as Depositary by the Company or any successor thereto. DTC will be the initial
Depositary.

“Depositary Participant” means a broker, dealer, bank, other financial institution or other
Person for whom from time to time a Depositary effects book-entry transfers and pledges of
securities deposited with the Depositary.

“Designated Preferred Stock” means the shares of series A preferred stock of the Company, par
value $0.001 per share, having a liquidation preference of $10.00 per share received by the
Purchasers and the other sellers in connection with the acquisition by the Company of Deerfield &
Co. and any shares of such Series A preferred stock issued as a dividend paid-in-kind thereon, and
any security into which such series A preferred stock or any portion thereof is converted,
exchanged, reclassified, recapitalized or the like.

“Disqualified Capital Stock” means any Capital Stock that, by its terms (or by the terms of
any security into which it is convertible or for which it is exchangeable), or upon the happening
of any event, (i) matures (excluding any maturity as the result of an optional redemption by the
issuer thereof) or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise,
or is redeemable at the option of the holder thereof, in whole or in part, on or prior to a date
that is 181 days after the Seller Notes Maturity Date, (ii) is convertible into or exchangeable
(unless at the sole option of the issuer thereof) for (a) debt securities or (b) any Capital Stock
referred to in clause (i) above, in each case at any time on or prior to a date that is 181 days
after the Seller Notes Maturity Date, (iii) contains any repurchase obligation which may come into
effect prior to payment in full of all Obligations and (iv) provides the holders of such Capital
Stock with any rights to receive any cash upon the occurrence of a change of control
(provided that any Capital Stock that would not constitute Disqualified Capital Stock but
for provisions thereof giving holders thereof (or the holders of any security into or for which
such Capital Stock is convertible, exchangeable or exercisable) the right to require the issuer
thereof to redeem such Capital Stock upon the occurrence of a change in control or an asset sale
occurring prior to the first anniversary of the Seller Notes Maturity Date shall not constitute
Disqualified Capital Stock if such Capital Stock provides that the issuer thereof will not redeem
any such Capital Stock pursuant to such provisions prior to the repayment in full of the Seller
Notes. In no event shall Disqualified Capital Stock include trust preferred securities or any
Designated Preferred Stock.

“Dollar” or “$” means the currency of the United States of America that, as at the time of
payment, is legal tender for the payment of public and private debts.

“DTC” means The Depository Trust Company, a New York corporation, or any successor thereto.

“EDGAR” has the meaning specified in Section 7.3(c).

“Equity Interests” means (a) the partnership interests (general or limited) in a partnership,
(b) the membership interests in a limited liability company and (c) the shares or stock interests
(both common stock and preferred stock) in a corporation or (d) any similar equity interests in any
entity; provided, however, Equity Interests shall not include any indebtedness,
warrant, option or right convertible into or exchangeable for Capital Stock until such time that
such indebtedness, warrant, option or right is actually so converted or exchanged into Capital
Stock.

“Event of Default” has the meaning specified in Section 5.1.

“Exchange Act” means the Securities Exchange Act of 1934 or any statute successor thereto, in
each case as amended from time to time.

“Exchange Agreement” means that certain Exchange Agreement executed and delivered
contemporaneously with this Indenture by the Company, Taberna Preferred Funding V, Ltd., Taberna
Preferred Funding VII, Ltd., Taberna Preferred Funding VIII, Ltd. and Taberna Preferred Funding IX,
Ltd., as the same may be amended from time to time.

“Expiration Date” has the meaning specified in Section 1.4(h).

“Fair Market Value” means (i) with respect to any asset or group of assets at any date, the
value of the consideration obtainable in a sale of such asset at such date assuming a sale by a
willing seller to a willing purchaser dealing at arm’s length and arranged in an orderly manner
having regard to the nature and characteristics of such asset, as reasonably determined in good
faith by the Company and (ii) with respect to any marketable security that cannot be valued in
accordance with the preceding clause (i), the closing sale price of such security on the Business
Day preceding such date, as appearing in any published list of any national securities exchange or
the NASDAQ Stock Market or, if there is no such closing sale price of such security, the final
price for the purchase of such security at face value quoted on such Business Day by a financial
institution of recognized standing regularly dealing in Securities of such type and selected by the
Company.

“Financial Assets” means (i) all financial assets (as defined in the UCC) and (ii) Capital
Stock in any Deerfield Special Purpose Entity, securities (including equity and debt, and whether
or not such securities are themselves backed by mortgages, loans or other Financial Assets), bonds,
notes, debentures, loans, derivative instruments, collateralized loan obligations, collateralized
debt obligations, “warehouse” loan facilities, loan securitization facilities or any other similar
credit facilities or investment vehicles.

“First Indenture” has the meaning specified in Section 5.1(h).

“Fixed Rate” means a fixed rate equal to 1.00% per annum.

“Fixed Rate Period” has the meaning specified in Section 3.1(a).

“GAAP” means generally accepted accounting principles in the United States set forth in the
opinions and pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date
of determination, consistently applied.

“Global Security” means a Security that evidences all or part of the Securities, the ownership
and transfers of which shall be made through book entries by a Depositary.

“Governmental Authority” means any nation or government, any state or other political
subdivision thereof, any agency, authority, instrumentality, regulatory body, court, administrative
tribunal, central bank, public office, court, arbitration or mediation panel, or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of government.

“Government Obligation” means (a) any security that is (i) a direct obligation of the United
States of America 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 or 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 (b) any
depositary receipt issued by a “bank” (as defined in Section 3(a)(2) of the Securities Act) as
custodian with respect to any Government Obligation that is specified in clause (a) 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 Government Obligation that 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 Government Obligation or the specific payment of principal or
interest evidenced by such depositary receipt.

“Guaranty and Pledge Agreements” means (a) the Series A Guaranty and Pledge Agreement dated as
of December 21, 2007 among the parties to the Series A Note Purchase Agreement and (b) the Series B
Guaranty and Pledge Agreement dated as of December 21, 2007 among the parties to the Series B Note
Purchase Agreement.

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

“Indebtedness” means, as applied to any Person: (a)(i) all indebtedness for borrowed money,
and (ii) all Disqualified Capital Stock; (b) all obligations issued, undertaken or assumed as the
deferred purchase price of Property or services (other than trade payables entered into in the
ordinary course of business); (c) the principal amount of all letters of credit issued for the
account of such Person and without duplication, all drafts drawn thereunder and all reimbursement
or payment obligations with respect to letters of credit, surety bonds and other similar
instruments issued by such Person; (d) all obligations evidenced by notes, bonds, debentures or
similar instruments (other than checks in the ordinary course of the business), including
obligations so evidenced incurred in connection with the acquisition of Property, assets or
businesses; (e) all indebtedness created or arising under any conditional sale or other title
retention agreement, or incurred as financing, in either case with respect to Property acquired by
the Person (even though the rights and remedies of the seller or bank under such agreement in the
event of default section thereof are limited to repossession or sale of such Property); (f) all
monetary obligations under any Capital Lease; (g) all indebtedness referred to in clauses (a)
through (f) above secured by (or for which the holder of such Indebtedness has an existing right,
contingent or otherwise, to be secured by) any Lien upon or in Property (including accounts and
contracts rights) owned by such Person, even though such Person has not assumed or become liable
for the payment of such indebtedness (the amount of any such obligation shall be deemed to be the
lower of (x) an amount equal to the stated or determinable amount of such obligation and (y) the
Fair Market Value of the property securing such obligation, unless the maximum amount for which
such Person may be liable is not stated or determinable, in which case the amount of such
obligation shall be such Person’s maximum reasonably anticipated liability in respect thereof as
determined by the Company in good faith); and (h) any direct or indirect liability, contingent or
otherwise, with respect to any Indebtedness or other similar obligation of another Person if the
primary purpose or intent of the Person incurring such liability, or the primary effect thereof, is
to provide assurance to the obligee of such liability that such liability will be paid or
discharged, or that any agreements relating thereto will be complied with, or that the holders of
such liability will be protected (in whole or in part) against loss with respect thereto (the
amount of any such obligation shall be deemed to be the lower of (x) an amount equal to the stated
or determinable amount of the primary obligation in respect of which such assurance is made and (y)
the maximum amount for which such assuring Person may be liable pursuant to the terms of the
instrument embodying such assurance, unless such primary obligation and the maximum amount for
which such assuring Person may be liable are not stated or determinable, in which case the amount
of such obligation shall be such assuring Person’s maximum reasonably anticipated liability in
respect thereof as determined by the Company in good faith); provided that Indebtedness
shall exclude (i) obligations under repurchase agreements and obligations due to brokers and
broker-dealers in the ordinary course of business, (ii) obligations under trust preferred
securities or debt securities that are convertible into Qualified Capital Stock of the Company or
any of its Subsidiaries.

“Indenture” means this instrument as originally executed or as it may from time to time be
amended or supplemented by one or more amendments or indentures supplemental hereto entered into
pursuant to the applicable provisions hereof.

“In-Kind Redemption Price” has the meaning set forth in Section 11.1.

“Interest Payment Date” means January 30, April 30, July 30 and October 30 of each year,
commencing on April 30, 2010, during the term of this Indenture.

“Interest Period” means the period commencing on the day after an Interest Payment Date and
continuing through and including the next succeeding Interest Payment Date.

“Investment Company Act” means the Investment Company Act of 1940 or any successor statute
thereto, in each case as amended from time to time.

“Investment Company Event” means the receipt by the Company of an Opinion of Counsel
experienced in such matters to the effect that, as a result of the occurrence of a change in law or
regulation (including any announced prospective change) or a written change in interpretation or
application of law or regulation by any legislative body, court, governmental agency or regulatory
authority, there is more than an insubstantial risk that the Company is or, within ninety (90) days
of the date of such opinion will be, considered an “investment company” that is required to be
registered under the Investment Company Act, which change or prospective change becomes effective
or would become effective, as the case may be, on or after the date of the issuance of the
Securities.

“Judgment” means any judgment, order, writ, decision, decree, award or injunction of any
Governmental Authority.

“Laws” means, collectively, all international, foreign, Federal, state and local statutes,
treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial
precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority.

“LIBOR” has the meaning specified in Schedule A.

“LIBOR Business Day” has the meaning specified in Schedule A.

“LIBOR Determination Date” has the meaning specified in Schedule A.

“License” means any license, permit, directive, authorization, approval or stipulation
required to operate the Business at any location.

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), other charge or security interest, or any preference,
priority or other agreement or preferential arrangement of any kind or nature whatsoever, including
without limitation, any conditional sale or other title retention agreement or any capital lease
obligation having substantially the same economic effect as any of the foregoing.

“Management Agreement” means the Management Agreement, dated December 21, 2007, between the
Company and Deerfield Capital Management LLC.

“Management Company” means Deerfield Capital Management LLC, a Delaware limited liability
company.

“Maturity,” when used with respect to any Security, means the date on which the principal of
such Security or any 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.

“Modification Period” means the period commencing on April 30, 2010, and continuing through
and including April 30, 2015, unless sooner terminated as set forth in Section 1.14.

“Modification Period Termination Event” has the meaning set forth in Section 1.14.

“Money” shall have the meaning accorded to such term in the UCC.

“Net Income” means, with respect to the Company, the consolidated net income (or loss) of the
Company and its Subsidiaries for such period as determined in accordance with GAAP, adjusted to the
extent included in calculating such consolidated net income (or loss), by excluding the following:

(i) all extraordinary gains or losses in such period;

(ii) net losses in respect of dispositions of assets by the Company or any of its
Subsidiaries;

(iii) the net income (or loss) of any Subsidiary to the extent that the declaration of
dividend or distributions by that Subsidiary of that income is not at the time permitted, directly
or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment,
decree, order, statute, rule or governmental regulation applicable to that Subsidiary;

(iv) the net income (or loss) of any other entity of the Company accounted for under the
equity method of accounting, except to the extent of the amount of dividends or other distributions
actually paid or made to such entity subject to the limitations contained in clause (iii) above);

(v) any interest income resulting from loans or investments in Affiliates (other than
Subsidiaries), other than cash interest income actually received;

(vi) costs and expenses incurred in connection with or as a result of the consummation of any
tender offer or merger;

(vii) non cash charges, including, but not limited to, depreciation, amortization, write-offs,
write-downs, provisions or impairment charges; and,

(viii) the cumulative effect of a change in accounting principles.

In determining Net Income, gains or losses resulting from the early retirement, or
extinguishment of indebtedness for money borrowed, including any fees and expenses associated
therewith, shall be deducted or added back, respectively.

“Non-Recourse Indebtedness” means Indebtedness incurred by the Company or any of its
Subsidiaries with respect to which the applicable creditor has recourse only to a particular asset
and not to the general balance sheet of the Company or any of its Subsidiaries and is not recourse
to the general balance sheet of the Company or any of its Subsidiaries.

“Note Purchase Agreements” means (a) the Series A Note Purchase Agreement dated as of December
21, 2007 among the Company, Deerfield & Co., Triarc Deerfield Holdings LLC and other purchasers
signatory thereto and (b) the Series B Note Purchase Agreement dated as of December 21, 2007 among
the Company, Deerfield & Co., Triarc Deerfield Holdings LLC and other purchasers signatory thereto.

“Notice of Default” means a written notice of the kind specified in Section 5.1(c).

“Officers’ Certificate” means a certificate signed by the Chairman of the Board, a Vice
Chairman of the Board, the Chief Executive Officer, the President or a Vice President, and by the
Chief Financial Officer, the Treasurer, an Assistant Treasurer, the Secretary or an Assistant
Secretary, of the Company and delivered to the Trustee.

“Opinion of Counsel” means a written opinion of counsel, who may be counsel for or an employee
of the Company or any Affiliate of the Company.

“Optional Redemption Price” has the meaning set forth in Section 11.1.

“Organizational Documents” means, (a) with respect to any corporation, the certificate or
articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with
respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c) with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint
venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with
the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity.

“Original Issue Date” means the date of original issuance of each Security.

“Original Subordinated Notes” has the meaning set forth in Section 12.1.

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

(i) Securities theretofore canceled by the Trustee or delivered to the Trustee for
cancellation;

(ii) 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 and/or its Affiliates
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; and

(iii) Securities that have been paid or in substitution for or in lieu of which other
Securities have been authenticated and delivered pursuant to the provisions of this
Indenture, unless proof satisfactory to the Trustee is presented that any such Securities
are held by Holders in whose hands such Securities are valid, binding and legal obligations
of the Company;

provided, that in determining whether the Holders of the requisite principal amount of Outstanding
Securities have given any request, demand, authorization, direction, notice, consent or waiver
hereunder, Securities owned by the Company or any other obligor upon the Securities or any
Affiliate of the Company or such other obligor shall be disregarded and deemed not to be
Outstanding unless the Company shall hold all Outstanding Securities, except that, in determining
whether the Trustee shall be protected in relying upon any such request, demand, authorization,
direction, notice, consent or waiver, only Securities that a Responsible Officer of the Trustee
actually knows to be so owned shall be so disregarded. Securities so owned that have been pledged
in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the
Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not
the Company or any other obligor upon the Securities or any Affiliate of the Company or such other
obligor.

“Paying Agent” means the Trustee or any Person authorized by the Company to pay the principal
of or any premium or interest on, or other amounts in respect of, any Securities on behalf of the
Company.

“Payment Account” has the meaning set forth in Section 1.15.

“Permitted Management Fees” means the management fees and expenses paid under the Management
Agreement.

“Permitted Refinancing Indebtedness” means any Indebtedness of the Company or the Management
Company issued in exchange for, or the net proceeds of which are used to refinance (including
renewals, extensions, refunds or defeasances) Indebtedness permitted by Section 10.11(a);
provided that (a) the principal amount (or accreted value, if applicable) of such Permitted
Refinancing Indebtedness does not exceed the original principal amount plus accrued
interest (or accreted value, if applicable) of the Indebtedness so refinanced (plus the
amount of reasonable costs and expenses (including any premiums) incurred in connection therewith);
(b) such Permitted Refinancing Indebtedness has a final maturity date not earlier than the earlier
of (i) the final maturity date of, at the time of such refinancing, the Indebtedness being
refinanced and (ii) a date that is at least 180 days after the Seller Notes Maturity Date; and (c)
if the Indebtedness being refinanced is subordinated to the Seller Notes, such Permitted
Refinancing Indebtedness has (to the extent the Indebtedness being refinanced originally had a
final maturity date later than the final maturity date of the Notes) a final maturity date later
than the final maturity date of, and is subordinated in right of payment to, the Seller Notes on
terms at least as favorable to the holders of the Seller Notes as those contained in the
documentation governing the Indebtedness being refinanced.

“Person” means a legal person, including any individual, corporation, estate, partnership,
joint venture, association, joint stock company, company, limited liability company, trust,
unincorporated association, or government, or any agency or political subdivision thereof, or any
other entity of whatever nature.

“Place of Payment” means, with respect to the Securities, the Corporate Trust Office of the
Trustee.

“Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security. For the purposes of
this definition, any security authenticated and delivered under Section 3.6 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.

“Proceeding” has the meaning specified in Section 12.2(b).

“Property” means any right or interest in or to property of any kind whatsoever, whether real,
personal or mixed and whether tangible or intangible, including Capital Stock and leasehold
interests.

“Qualified Capital Stock” of any Person means any Capital Stock of such Person that is not
Disqualified Capital Stock.

“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, in whole or
in part, the In-Kind Redemption Price, the Special Redemption Price or the Optional Redemption
Price, as applicable, at which such Security or portion thereof is to be redeemed as fixed by or
pursuant to this Indenture.

“Reference Banks” has the meaning specified in Schedule A.

“Regular Record Date” for the interest payable on any Interest Payment Date with respect to
the Securities means the date that is fifteen (15) days preceding such Interest Payment Date
(whether or not a Business Day).

“Requirement of Law” or “Requirements of Law” means any requirement, direction, policy or
procedure of any Law or License, Judgment, or Consent or Other Action.

“Responsible Officer” means, when used with respect to the Trustee, the officer in the
Worldwide Securities Services department of the Trustee having direct responsibility for the
administration of this Indenture.

“Restricted Payment” means, with respect to any Person, (i) any dividend or other distribution
(whether direct or indirect, and whether in Cash, securities or other property) with respect to any
class of Capital Stock of such Person now or hereafter outstanding, other than a dividend payable
to the holders of any class of Capital Stock solely in shares of Capital Stock of such Person, (ii)
any payment (whether direct or indirect, and whether in Cash, securities or other property),
including any sinking fund or similar deposit, on account of the purchase, full or partial
redemption, full or partial withdrawal, retirement, acquisition, cancellation or termination of any
such Capital Stock or of any option, warrant or other right to acquire any such Capital Stock, and
(iii) any management (or similar) fees payable to an Affiliate of such Person, except for
management fees in an amount up to $1,500,000 per annum pursuant to a Credit Enhancing Transaction
to which definitive documents are signed within ninety (90) days from the date of this Indenture
and that closes within one hundred eighty (180) days from the date of this Indenture.

“Rights Plan” means a plan of the Company providing for the issuance by the Company to all
holders of its Equity Interests of rights entitling the holders thereof to subscribe for or
purchase Equity Interests or any class or series of Equity Interests in the Company which rights
(i) are deemed to be transferred with such Equity Interests and (ii) are also issued in respect of
future issuances of such Equity Interests, in each case until the occurrence of a specified event
or events.

“Securities” or “Security” has the meaning set forth in the first recital of this Indenture
and means any debt securities or debt security, as the case may be, authenticated and delivered
under this Indenture.

“Securities Act” means the Securities Act of 1933 or any successor statute thereto, in each
case as amended from time to time.

“Securities Register” and “Securities Registrar” have the respective meanings specified in
Section 3.5.

“Seller Note Documents” means (a) the Note Purchase Agreements; (b) the Seller Notes; (c) the
Guaranty and Pledge Agreements; (d) any other guarantee of the obligations of the issuer of the
Seller Notes; (e) collateral assignments for the benefit of the holders of the Seller Notes and the
agent therefor; and (f) any Contractual Obligation, filings and recordings executed, delivered or
filed, including any amendments, supplements, renewals, extensions or replacements thereof,
executed pursuant to or in connection with any of the documents refereed to in clauses (a) through
(e) above or any agreements or other documents relating to any Permitted Refinancing Indebtedness
thereof.

“Seller Notes” means, collectively, (i) those certain Series A Senior Secured Notes issued by
DFR Merger Company, LLC and Deerfield & Co. due in calendar year 2012 and (ii) those certain Series
B Senior Secured Notes issued by DFR Merger Company, LLC and Deerfield & Co. due in calendar year
2012.

“Seller Notes Maturity Date” means the fifth anniversary of December 21, 2007.

“Senior Debt” means the principal of and any premium and interest on (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) all
Debt of the Company, whether incurred on or prior to the date of this Indenture or thereafter
incurred, unless it is provided in the instrument creating or evidencing the same or pursuant to
which the same is outstanding, that such obligations are not superior in right of payment to the
Securities issued under this Indenture; provided, that Senior Debt shall not be deemed to include
any other debt securities (and guarantees, if any, in respect of such debt securities) issued to
any trust (or a trustee of any such trust), partnership or other entity affiliated with the Company
that is a financing vehicle of the Company (a “financing entity”) in connection with the issuance
by such financing entity of equity securities or other securities pursuant to an instrument that
ranks pari passu with or junior in right of payment to this Indenture; provided further, however,
the Seller Notes and any Permitted Refinancing Indebtedness thereof shall be Senior Debt.

“Shareholders Act” means the Shareholders Communication Act of 1985 (as amended from time to
time).

“Special Event” means the occurrence of an Investment Company Event or a Tax Event.

“Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 3.1.

“Special Redemption Price” has the meaning set forth in Section 11.2.

“Stated Maturity” means October 30, 2035.

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability
company or other business entity which is Controlled by such Person.

“Taxes” has the meaning set forth in Section 3.1(g).

“Tax Event” means the receipt by the Company of an Opinion of Counsel experienced in such
matters to the effect that, as a result of (a) any amendment to or change (including any announced
prospective change) in the laws or any regulations thereunder of the United States or any political
subdivision or taxing authority thereof or therein or (b) any judicial decision or any official
administrative pronouncement (including any private letter ruling, technical advice memorandum or
field service advice) or regulatory procedure, including any notice or announcement of intent to
adopt any such pronouncement or procedure (an “Administrative Action”), regardless of whether such
judicial decision or Administrative Action is issued to or in connection with a proceeding
involving the Company and whether or not subject to review or appeal, which amendment, change,
judicial decision or Administrative Action is enacted, promulgated or announced, in each case, on
or after the date of issuance of the Securities, there is more than an insubstantial risk that
interest payable by the Company on the Securities is not, or within ninety (90) days of the date of
such opinion, will not be, deductible by the Company, in whole or in part, for United States
federal income tax purposes.

“Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument,
solely in its capacity as such and not in its individual capacity, 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.

“Trust I Indenture” has the meaning specified in Section 5.1(h).

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended and as in effect on
the date as of this Indenture.

“UCC” or “Uniform Commercial Code” means the Uniform Commercial Code as in effect from time to
time as adopted in the State of New York

“Unsecured Debt” means, with respect to any Person, any Debt of such Person that is not
secured in any manner by any Lien on any property, including without limitation, the Securities;
provided, however, that the term “Unsecured Debt” shall not include any unsecured revolving bank
lines of credit.

“Voting Stock” means, with respect to any Person, any class or classes of Capital Stock
pursuant to which the holders thereof have the general voting power under ordinary circumstances to
elect at least a majority of the board of directors of such Person.

Section 1.2. Compliance Certificate and Opinions.

(a) Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall, if requested by the Trustee, furnish to the Trustee
an Officers’ Certificate stating that all conditions precedent (including covenants compliance with
which constitutes a condition 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 (including covenants compliance with which constitutes a
condition precedent), if any, have been complied with.

(b) Every certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than the certificate provided pursuant to
Section 10.3) shall include:

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

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

(iii) a statement that, in the opinion of 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

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

Section 1.3. Forms of Documents Delivered to Trustee.

(a) 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.

(b) Any certificate or opinion of an officer of the Company may be based, insofar as it
relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless
such officer knows, or after reasonable inquiry should know, that the certificate or opinion or
representations with respect to matters upon which his or her certificate or opinion is based are
erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to
factual matters, upon a certificate or opinion of, or representations by, an officer or officers of
the Company stating that the information with respect to such factual matters is in the possession
of the Company, unless such counsel knows that the certificate or opinion or representations with
respect to such matters are erroneous.

(c) 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.

(d) Whenever, subsequent to the receipt by the Trustee of any Board Resolution, Officers’
Certificate, Opinion of Counsel or other document or instrument, a clerical, typographical or other
inadvertent or unintentional error or omission shall be discovered therein, a new document or
instrument may be substituted therefor in corrected form with the same force and effect as if
originally received in the corrected form and, irrespective of the date or dates of the actual
execution and/or delivery thereof, such substitute document or instrument shall be deemed to have
been executed and/or delivered as of the date or dates required with respect to the document or
instrument for which it is substituted. Without limiting the generality of the foregoing, any
Securities issued under the authority of such defective document or instrument shall nevertheless
be the valid obligations of the Company entitled to the benefits of this Indenture equally and
ratably with all other Outstanding Securities.

Section 1.4. Acts of Holders.

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given to 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 thereof duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments (including any appointment of an
agent) is or 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 conclusive in favor of the Trustee and the
Company, if made in the manner provided in this Section 1.4.

(b) The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by the certificate of any notary public
or other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him or her the execution thereof. Where such
execution is by a Person acting in other than his or her individual capacity, such certificate or
affidavit shall also constitute sufficient proof of his or her authority. The fact and date of the
execution by any Person of any such instrument or writing, or the authority of the Person executing
the same, may also be proved in any other manner that the Trustee deems sufficient and in
accordance with such reasonable rules as the Trustee may determine.

(c) The ownership of Securities shall be proved by the Securities Register.

(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by
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 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.

(e) Without limiting the foregoing, a Holder entitled 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.

(f) Except as set forth in paragraph (g) of this Section 1.4, the Company may set any
day as a record date for the purpose of determining the Holders of Outstanding Securities entitled
to give, make or take any request, demand, authorization, direction, notice, consent, waiver or
other action provided or permitted by this Indenture to be given, made or taken by Holders of
Securities. If any record date is set pursuant to this paragraph, the Holders of Outstanding
Securities on such record date, and no other Holders, shall be entitled to take the relevant
action, whether or not such Holders remain Holders after such record date; provided, that no such
action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by
Holders of the requisite principal amount of Outstanding Securities on such record date. Nothing in
this paragraph shall be construed to prevent the Company from setting a new record date for any
action for which a record date has previously been set pursuant to this paragraph (whereupon the
record date previously set shall automatically and with no action by any Person be canceled and of
no effect). Promptly after any record date is set pursuant to this paragraph, the Company, at its
own expense, shall cause notice of such record date, the proposed action by Holders and the
applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities
in the manner set forth in Section 1.6.

(g) The Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities entitled to join in the giving or making of (i) any Notice of Default, (ii)
any declaration of acceleration or rescission or annulment thereof referred to in Section
5.2, (iii) any request to institute proceedings referred to in Section 5.7(b) or (iv)
any direction referred to in Section 5.12. If any record date is set pursuant to this
paragraph, the Holders of Outstanding Securities on such record date, and no other Holders, shall
be entitled to join in such notice, declaration, request or direction, whether or not such Holders
remain Holders after such record date; provided, that no such action shall be effective hereunder
unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal
amount of Outstanding Securities on such record date. Nothing in this paragraph shall be construed
to 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 canceled and of no effect). Promptly after any
record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause
notice of such record date, the proposed action by Holders and the applicable Expiration Date to be
given to the Company in writing and to each Holder of Securities in the manner set forth in
Section 1.6.

(h) With respect to any record date set pursuant to paragraph (f) or (g) of this
Section 1.4, the party hereto that sets such record date may designate any day as the
“Expiration Date” and from time to time may change the Expiration Date to any earlier or later day;
provided, that no such change shall be effective unless notice of the proposed new Expiration Date
is given to the other party hereto in writing, and to each Holder of Securities in the manner set
forth in Section 1.6, 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 1.4, the party
hereto that set such record date shall be deemed to have initially designated the ninetieth (90th)
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. Notwithstanding the foregoing, no
Expiration Date shall be later than the one hundred eightieth (180th) day after the
applicable record date.

Section 1.5. Notices, Etc. to Trustee and Company.

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

(i) the Trustee by any Holder or the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with and received by the
Trustee at its Corporate Trust Office, or

(ii) the Company by the Trustee or any Holder shall be sufficient for every purpose
hereunder if in writing and mailed, first class, postage prepaid, to the Company addressed
to it at Deerfield Capital Corp., 6250 North River Road, Rosemont, Illinois 60018, or at any
other address previously furnished in writing to the Trustee by the Company.

(b) The Trustee may, but is not required to, rely upon and comply with instructions and
directions sent by email or facsimile, (or any other reasonable means of communication) by persons
believed by the Trustee in good faith to be authorized to provide such instructions or direction;
provided, however, that the Trustee may require such additional evidence, confirmation or
certification from any such party or parties as the Trustee, in its reasonable discretion, deems
necessary or advisable before acting or refraining from acting upon any such instruction or
direction.

(c) Subject to Section 1.5(b) above, the Trustee agrees to accept and act upon
instructions or directions pursuant to this Agreement sent by unsecured email, facsimile
transmission or other similar unsecured electronic methods; provided, however, that any Person
providing such instructions or directions shall provide to the Trustee an incumbency certificate
listing such designated persons, which incumbency certificate shall be amended whenever a person is
to be added or deleted from the listing. If such Person elects to give the Trustee email or
facsimile instructions (or instructions by a similar electronic method) 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. Each Person providing instructions or directions to the Trustee
hereunder 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, in good faith, on unauthorized instructions, and the risk of interception and misuse by
third parties.

Section 1.6. 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 to the address of such Holder as it
appears in the Securities 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. If, by reason of the
suspension of or irregularities in regular mail service or for any other reason, it shall be
impossible or impracticable to mail notice of any event to Holders when said notice is required to
be given pursuant to any provision of this Indenture, then any manner of giving such notice as
shall be satisfactory to the Trustee shall be deemed to be a sufficient 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. 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.

Section 1.7. 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 of this Indenture.

Section 1.8. Successors and Assigns.

This Indenture shall be binding upon and shall inure to the benefit of any successor to the
Company and the Trustee, including any successor by operation of law. Except in connection with a
transaction involving the Company that is permitted under Article VIII and pursuant to
which the assignee agrees in writing to perform the Company’s obligations hereunder, the Company
shall not assign its obligations hereunder.

Section 1.9. Separability Clause.

If 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, and there shall be deemed substituted for the provision at
issue a valid, legal and enforceable provision as similar as possible to the provision at issue.

Section 1.10. 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 and assigns, the holders of Senior Debt, and the
Holders of the Securities, any benefit or any legal or equitable right, remedy or claim under this
Indenture.

Section 1.11. Governing Law.

This Indenture and the rights and obligations of each of the Holders, the Company and the
Trustee shall be construed and enforced in accordance with and governed by the laws of the State of
New York without reference to its conflict of laws provisions (other than Section 5-1401 of the
General Obligations Law).

Section 1.12. Submission to Jurisdiction.

ANY LEGAL ACTION OR PROCEEDING BY OR AGAINST ANY PARTY HERETO OR WITH RESPECT TO OR ARISING
OUT OF THIS INDENTURE MAY BE BROUGHT IN OR REMOVED TO THE COURTS OF THE STATE OF NEW YORK, IN AND
FOR THE COUNTY OF NEW YORK, OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW
YORK (IN EACH CASE SITTING IN THE BOROUGH OF MANHATTAN). BY EXECUTION AND DELIVERY OF THIS
INDENTURE, EACH PARTY ACCEPTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND
UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS (AND COURTS OF APPEALS THEREFROM) FOR
LEGAL PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS INDENTURE.

Section 1.13. Non-Business Days.

If any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be
a Business Day, then (notwithstanding any other provision of this Indenture or the Securities)
payment of interest, premium, if any, or principal or other amounts in respect of such Security
shall not be made on such date, but shall be made on the next succeeding Business Day (and no
interest shall accrue in respect of the amounts whose payment is so delayed for the period from and
after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be, until
such next succeeding Business Day) except that, if such Business Day falls in the next succeeding
calendar year, such payment shall be made on the immediately preceding Business Day, in each case
with the same force and effect as if made on the Interest Payment Date or Redemption Date or at the
Stated Maturity.

Section 1.14. Termination of Modification Period.

The Modification Period shall terminate upon the occurrence of either of the following events
(each a “Modification Period Termination Event”):

(a) if the Company fails to enter into a Credit Enhancing Transaction prior to the Seller
Notes Maturity Date (a “Credit Enhancement Failure”); or

(b) if cumulative Restricted Payments made pursuant to Section 10.11(b)(viii) exceed
$10,000,000.

Section 1.15. Account.

In connection with any funds received by the Trustee hereunder and any payments made on
account of any Holder of Securities, the Trustee shall, on or prior to the date of this Indenture,
establish a segregated non-interest bearing trust account in the name of the Trustee, which shall
be designated as the payment account (the “Payment Account”). The Trustee may establish any number
of subaccounts as it deems necessary or advisable for purposes of performing its obligations under
this Indenture. The only permitted withdrawals from or application of funds on deposit in, or
otherwise to the credit of, the Payment Account shall be to pay amounts due and payable to the
Trustee pursuant to Section 6.6 hereof and to the Holders on account of the Securities in
accordance with their terms and the provisions of this Indenture. Amounts in the Payment Account
shall be held uninvested.

ARTICLE II

SECURITY FORMS

Section 2.1. Form of Security.

Any Security issued hereunder shall be in substantially the following form:

DEERFIELD CAPITAL CORP.

Junior Subordinated Note due 2035

No.    $     

Deerfield Capital Corp., a corporation organized and existing under the laws of Maryland
(hereinafter called the “Company,”) which term includes any successor Person under the Indenture
hereinafter referred to), for value received, hereby promises to pay to       , or
registered assigns, the principal sum of        Dollars ($     ) [if the
Security is a Global Security, then insert— or such other principal amount represented hereby as
may be set forth in the records of the Securities Registrar hereinafter referred to in accordance
with the Indenture] on October 30, 2035. The Company further promises to pay interest on said
principal sum from March 4, 2010, or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, quarterly in arrears on January 30, April 30, July 30 and
October 30 of each year, commencing April 30, 2010, or if any such day is not a Business Day, on
the next succeeding Business Day (and no interest shall accrue in respect of the amounts whose
payment is so delayed for the period from and after such Interest Payment Date until such next
succeeding Business Day), except that, if such Business Day falls in the next succeeding calendar
year, such payment shall be made on the immediately preceding Business Day, in each case, with the
same force and effect as if made on the Interest Payment Date, at a fixed rate equal to the Fixed
Rate during the Modification Period (the “Fixed Rate Period”), and thereafter at a variable rate
equal to LIBOR plus 2.58% per annum, until the principal hereof is paid or duly provided for or
made available for payment; provided, further, that any overdue principal, premium, if any, and any
overdue installment of interest shall bear Additional Interest at a fixed rate equal to the
applicable Fixed Rate through the Fixed Rate Period, and thereafter at a variable rate equal to
LIBOR plus 2.58% per annum (to the extent that the payment of such interest shall be legally
enforceable), compounded quarterly, from the dates such amounts are due until they are paid or made
available for payment, and such interest shall be payable on demand.

During the Fixed Rate Period, the amount of interest payable for any Interest Period shall be
computed on the basis of a 360-day year of twelve 30-day months and the amount payable for any
partial period shall be computed on the basis of the number of days elapsed in a 360 day year of
twelve 30 day months. Upon expiration of the Fixed Rate Period, the amount of interest payable for
any Interest Period will be computed on the basis of a 360 day year and the actual number of days
elapsed in the relevant Interest Period. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date shall, as provided in the Indenture, be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest installment. Any such interest not
so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Securities not less than ten (10) days prior to such Special Record Date, or be paid at
any time in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in the Indenture.

Payment of principal of, premium, if any, and interest on this Security shall be made in such
coin or currency of the United States of America as at the time of payment is legal tender for
payment of public and private debts. Payments of principal, premium, if any, and interest due at
the Maturity of this Security shall be made at the Place of Payment upon surrender of such
Securities to the Paying Agent, and payments of interest shall be made, subject to such surrender
where applicable, by wire transfer at such place and to such account at a banking institution in
the United States as may be designated in writing to the Paying Agent at least ten (10) Business
Days prior to the date for payment by the Person entitled thereto unless proper written transfer
instructions have not been received by the relevant record date, in which case such payments shall
be made by check mailed to the address of such Person as such address shall appear in the Security
Register.

The indebtedness evidenced by this Security is, to the extent provided in the Indenture,
subordinate and junior in right of payment to the prior payment in full of all Senior Debt, and
this Security is issued subject to the provisions of the Indenture with respect thereto. Each
Holder of this Security, by accepting the same, (a) agrees to and shall be bound by such
provisions, (b) authorizes and directs the Trustee on his, her or its behalf to take such actions
as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the
Trustee his, her or its attorney-in-fact for any and all such purposes. Each Holder hereof, by his,
her or its acceptance hereof, waives all notice of the acceptance of the subordination provisions
contained herein and in the Indenture by each holder of Senior Debt, whether now outstanding or
hereafter incurred, and waives reliance by each such holder upon said provisions.

Unless the certificate of authentication hereon has been executed by the Trustee by manual
signature, this Security shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

[FORM OF REVERSE OF SECURITY]

This Security is one of a duly authorized issue of securities of the Company (the
“Securities”) issued under the Junior Subordinated Indenture, dated as of March 4, 2010 (the
“Indenture”), between the Company and The Bank of New York Mellon Trust Company, National
Association, as Trustee (in such capacity, the “Trustee,” which term includes any successor trustee
under the Indenture), to which Indenture and all indentures supplemental thereto reference is
hereby made for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Trustee, the holders of Senior Debt, the Holders of the Securities
and the holders of the Preferred Securities, and of the terms upon which the Securities are, and
are to be, authenticated and delivered.

All terms used in this Security that are not defined herein shall have the meanings assigned
to them in the Indenture.

The Company may, on any date, at its option, upon not less than thirty (30) days’ nor more
than sixty (60) days’ written notice to the Holders of the Securities (unless a shorter notice
period shall be satisfactory to the Trustee) on or after October 30, 2010, and subject to the terms
and conditions of Article XI of the Indenture, (i) redeem this Security in whole at any time or in
part from time to time at a Redemption Price equal to one hundred percent (100%) of the principal
amount hereof (or of the redeemed portion hereof, as applicable), together, in the case of any such
redemption, with accrued interest, including any Additional Interest, through but excluding the
date fixed as the Redemption Date or (ii) redeem this Security in whole at any time or in part from
time to time by delivering to a Holder certain replacement securities acceptable to such Holder in
its sole discretion in an aggregate principal amount greater than or equal to the principal amount
hereof, exclusive of any accrued interest.

In addition, upon the occurrence and during the continuation of a Special Event, the Company
may, at its option, upon not less than thirty (30) days’ nor more than sixty (60) days’ written
notice to the Holders of the Securities (unless a shorter notice period shall be satisfactory to
the Trustee), redeem this Security, in whole but not in part, subject to the terms and conditions
of Article XI of the Indenture at a Redemption Price equal to one hundred seven and one
half percent (107.5%) of the principal amount hereof, together, in the case of any such redemption,
with accrued interest, including any Additional Interest, through but excluding the date fixed as
the Redemption Date; provided, however, that the Security may be redeemed in connection with a
Special Event as set forth above on or after October 30, 2010 at a Redemption Price equal to 100%
of the principal amount hereof, together, in the case of any such redemption, with accrued
interest, through but excluding the date fixed as the Redemption Date.

In the event of redemption of this Security in part only, a new Security or Securities for the
unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation
hereof. If less than all the Securities are to be redeemed, the particular Securities to be
redeemed shall be selected not more than sixty (60) days prior to the Redemption Date by the
Trustee from the Outstanding Securities not previously called for redemption, by such method as the
Trustee shall deem fair and appropriate and which may provide for the selection for redemption of a
portion of the principal amount of any Security.

The Indenture permits, with certain exceptions as therein provided, the Company and the
Trustee at any time to enter into a supplemental indenture or indentures for the purpose of
modifying in any manner the rights and obligations of the Company and of the Holders of the
Securities, with the consent of the Holders of not less than a majority in aggregate principal
amount of the Outstanding Securities. The Indenture also contains provisions permitting Holders of
specified percentages in principal amount of the Securities, on behalf of the Holders of all
Securities, to waive compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Security shall be conclusive and binding upon such Holder and upon all future Holders of
this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this
Security.

No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of and any premium, if any, and interest, including any Additional Interest (to the
extent legally enforceable), on this Security at the times, place and rate, and in the coin or
currency, herein prescribed.

As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is restricted to transfers to “Qualified Purchasers” (as such term is
defined in the Investment Company Act of 1940, as amended), and is registrable in the Securities
Register, upon surrender of this Security for registration of transfer at the office or agency of
the Company maintained for such purpose, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Securities Registrar and duly executed by,
the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more
new Securities, of like tenor, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

The Securities are issuable only in registered form without coupons in minimum denominations
of $100,000 and any integral multiple of $1,000 in excess thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Securities are exchangeable for a like aggregate
principal amount of Securities and of like tenor of a different authorized denomination, as
requested by the Holder surrendering the same.

No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this Security is registered as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by
notice to the contrary.

The Company and, by its acceptance of this Security or a beneficial interest herein, the
Holder of, and any Person that acquires a beneficial interest in, this Security agree that, for
United States federal, state and local tax purposes, it is intended that this Security constitute
indebtedness.

This Security shall be construed and enforced in accordance with and governed by the laws of
the State of New York, without reference to its conflict of laws provisions (other than Section
5-1401 of the General Obligations Law).

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed on this      
day of       , 20      .

DEERFIELD CAPITAL CORP.

By:

Name:

Title:

Section 2.2. Restricted Legend.

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

[IF THIS SECURITY IS A GLOBAL SECURITY, INSERT: THIS SECURITY IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE
DEPOSITORY TRUST COMPANY (“DTC”) OR A NOMINEE OF DTC. THIS SECURITY IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN DTC OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS SECURITY (OTHER

THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF
DTC TO DTC OR ANOTHER NOMINEE OF DTC) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR
ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON 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.]

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED IN A TRANSACTION
EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND SUCH SECURITIES, AND ANY INTEREST THEREIN, MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH
PURCHASER OF ANY SECURITIES IS HEREBY NOTIFIED THAT THE SELLER OF THE SECURITIES MAY BE
RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY
RULE 144A UNDER THE SECURITIES ACT.

THE HOLDER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE AGREES FOR THE BENEFIT OF THE
COMPANY THAT (A) SUCH SECURITIES MAY BE OFFERED, RESOLD OR OTHERWISE TRANSFERRED ONLY (I) TO
THE COMPANY OR (II) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A “QUALIFIED
PURCHASER” (AS DEFINED IN SECTION 2(a)(51) OF THE INVESTMENT COMPANY ACT OF 1940, AS
AMENDED), AND (B) THE HOLDER WILL NOTIFY ANY PURCHASER OF ANY SECURITIES FROM IT OF THE
RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE.

THE SECURITIES WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN BLOCKS HAVING AN AGGREGATE
PRINCIPAL AMOUNT OF NOT LESS THAN $100,000. TO THE FULLEST EXTENT PERMITTED BY LAW, ANY
ATTEMPTED TRANSFER OF SECURITIES, OR ANY INTEREST THEREIN, IN A BLOCK HAVING AN AGGREGATE
PRINCIPAL AMOUNT OF LESS THAN $100,000 AND MULTIPLES OF $1,000 IN EXCESS THEREOF SHALL BE
DEEMED TO BE VOID AND OF NO LEGAL EFFECT WHATSOEVER. TO THE FULLEST EXTENT PERMITTED BY LAW,
ANY SUCH PURPORTED TRANSFEREE SHALL BE DEEMED NOT TO BE THE HOLDER OF SUCH SECURITIES FOR
ANY PURPOSE, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF PRINCIPAL OF OR INTEREST ON SUCH
SECURITIES, OR ANY INTEREST THEREIN, AND SUCH PURPORTED TRANSFEREE SHALL BE DEEMED TO HAVE
NO INTEREST WHATSOEVER IN SUCH SECURITIES.

THE HOLDER OF THIS SECURITY, OR ANY INTEREST THEREIN, BY ITS ACCEPTANCE HEREOF OR THEREOF
ALSO AGREES, REPRESENTS AND WARRANTS THAT IT IS NOT AN EMPLOYEE BENEFIT PLAN, INDIVIDUAL
RETIREMENT ACCOUNT OR OTHER PLAN OR ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) (EACH A “PLAN”), OR AN ENTITY WHOSE
UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY,
AND NO PERSON INVESTING “PLAN ASSETS” OF ANY PLAN MAY ACQUIRE OR HOLD THIS SECURITY OR ANY
INTEREST THEREIN. ANY PURCHASER OR HOLDER OF THE SECURITIES OR ANY INTEREST THEREIN WILL BE
DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING THEREOF THAT IT IS NOT AN EMPLOYEE
BENEFIT PLAN WITHIN THE MEANING OF SECTION 3(3) OF ERISA, OR A PLAN TO WHICH SECTION 4975 OF
THE CODE IS APPLICABLE, A TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF AN EMPLOYEE BENEFIT
PLAN OR PLAN, OR ANY OTHER PERSON OR ENTITY USING THE ASSETS OF ANY EMPLOYEE BENEFIT PLAN OR
PLAN TO FINANCE SUCH PURCHASE.”

(b) The above legends shall not be removed from any Security unless there is delivered to the
Company satisfactory evidence, which may include an Opinion of Counsel, as may be reasonably
required to ensure that any future transfers thereof may be made without restriction under or
violation of the provisions of the Securities Act and other applicable law. Upon provision of such
satisfactory evidence, the Company shall execute and deliver to the Trustee, and the Trustee shall
deliver, upon receipt of a Company Order directing it to do so, a Security that does not bear the
legend.

Section 2.3. Form of Trustee’s Certificate of Authentication.

The Trustee’s certificate of authentication shall be in substantially the following form: This
is one of the Securities referred to in the within-mentioned Indenture.

Dated:

[TRUSTEE], not in its individual capacity, but
solely as Trustee

	 	 	 	 	 	 	 
	
 
	 	 	 	By:
	 	

	
 
	 	 	 	 	 	 
	Section 2.4.

	 	Temporary Securities.
	 	

	 	Authorized Signatory

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

(b) If temporary Securities are issued, the Company will cause definitive Securities to be
prepared without unreasonable delay. After the preparation of definitive Securities, the temporary
Securities shall be exchangeable for definitive Securities upon surrender of the temporary
Securities at the office or agency of the Company designated for that purpose without charge to the
Holder. Upon surrender for cancellation of any one or more temporary Securities, the Company shall
execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive
Securities of any authorized denominations having the same Original Issue Date and Stated Maturity
and having the same terms as such temporary Securities. Until so exchanged, the temporary
Securities shall in all respects be entitled to the same benefits under this Indenture as
definitive Securities.

Section 2.5. Definitive Securities.

The Securities issued on the Original Issue Date shall be in definitive form. The definitive
Securities shall be printed, lithographed or engraved, or produced by any combination of these
methods, if required by any securities exchange on which the Securities may be listed, on a steel
engraved border or steel engraved borders or may be produced in any other manner permitted by the
rules of any securities exchange on which the Securities may be listed, all as determined by the
officers executing such Securities, as evidenced by their execution of such Securities.

ARTICLE III

THE SECURITIES

Section 3.1. Payment of Principal and Interest.

(a) The unpaid principal amount of the Securities shall bear interest at the Fixed Rate during
the Modification Period (the “Fixed Rate Period”), and thereafter at a variable rate equal to LIBOR
plus 2.58% per annum, until such principal is paid or duly provided for, such interest to accrue
from the Original Issue Date, or from the most recent Interest Payment Date to which interest has
been paid or duly provided for. Any overdue principal, premium, if any, and any overdue
installment of interest shall bear Additional Interest at a fixed rate equal to the applicable
Fixed Rate through the Fixed Rate Period, and thereafter at a variable rate equal to LIBOR plus
2.58% per annum, compounded quarterly from the dates such amounts are due until they are paid or
funds for the payment thereof are made available for payment.

(b) Interest and Additional Interest on any Security that 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, except that interest and any Additional Interest payable on
the Stated Maturity (or any date of principal repayment upon early maturity) of the principal of a
Security or on a Redemption Date shall be paid to the Person to whom principal is paid. The initial
payment of interest on any Security that is issued between a Regular Record Date and the related
Interest Payment Date shall be payable as provided in such Security.

(c) Any interest on any Security that is due and payable, but is not timely paid or duly
provided for, on any Interest Payment Date for Securities (herein called “Defaulted Interest”)
shall forthwith cease to be payable to the registered 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 paragraph (i) or (ii) below:

(i) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities (or their respective Predecessor Securities) are registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest (a
“Special Record Date”), which shall be fixed in the following manner. At least thirty (30)
days prior to the date of the proposed payment, the Company shall notify the Trustee in
writing of the amount of Defaulted Interest proposed to be paid on each Security and the
date of the proposed payment, and at the same time the Company 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. Thereupon the
Trustee shall fix a Special Record Date for the payment of such Defaulted Interest, which
shall be not more than fifteen (15) days and not less than ten (10) days prior to the date
of the proposed payment and not less than ten (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 mailed, first class, postage prepaid, to each Holder of a Security at the address of such
Holder as it appears in the Securities Register not less than ten (10) days prior to such
Special Record Date. Notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to
the Persons in whose names the Securities (or their respective Predecessor Securities) are
registered on such Special Record Date; or

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

(d) Payments of interest on the Securities shall include interest accrued through and
including the respective Interest Payment Dates. During the Fixed Rate Period, the amount of
interest payable for any Interest Period shall be computed on the basis of a 360-day year of twelve
30-day months and the amount payable for any partial period shall be computed on the basis of the
number of days elapsed in a 360-day year of twelve 30-day months. Upon expiration of the Fixed
Rate Period, the amount of interest payable for any Interest Period will be computed on the basis
of a 360-day year and the actual number of days elapsed in the relevant Interest Period.

(e) Payment of principal of, premium, if any, and interest on the Securities shall be made in
such coin or currency of the United States of America as at the time of payment is legal tender for
payment of public and private debts. Payments of principal, premium, if any, and interest due at
the Maturity of such Securities shall be made at the Place of Payment upon surrender of such
Securities to the Paying Agent and payments of interest shall be made subject to such surrender
where applicable, by wire transfer at such place and to such account at a banking institution in
the United States as may be designated in writing to the Paying Agent at least ten (10) Business
Days prior to the date for payment by the Person entitled thereto unless proper written transfer
instructions have not been received by the relevant record date, in which case such payments shall
be made by check mailed to the address of such Person as such address shall appear in the Security
Register.

(f) Subject to the foregoing provisions of this Section 3.1, each Security delivered
under this Indenture upon 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, that were carried by such other
Security.

(g) Any and all payments by the Company or any Paying Agent to or for the account of any
Holder under the Securities shall be made free and clear of and without deduction for any and all
present or future taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or
similar charges, and all liabilities with respect thereto, including any interest, penalties and
additions to tax, now or hereafter imposed, levied, collected, withheld or assessed by any
Governmental Authority as a result of the Securities being treated as equity for U.S. federal
income tax purposes (“Taxes”), except as required by law. If the Company or any Paying Agent shall
be required by any law to deduct any Taxes from or in respect of any amount payable under the
Securities to any Holder as a result of the Securities being treated as equity for U.S. federal
income tax purposes, (i) the Company or Paying Agent shall make such deductions, (ii) the Company
or Paying Agent shall pay the full amount deducted to the relevant taxation authority or other
authority in accordance with applicable laws, (iii) within thirty (30) days after the date of such
payment, the Company or Paying Agent shall furnish to the Holder the original or a certified copy
of a receipt evidencing payment thereof, and (iv) the amount payable shall be increased as
necessary so that after making all required deductions (including deductions applicable to
additional sums payable under this Section 3.1(g)), each Holder receives an amount equal to
the sum it would have received had no such deductions been made.

Section 3.2. Denominations.

The Securities shall be in registered form without coupons and shall be issuable in minimum
denominations of $100,000 and any integral multiple of $1,000 in excess thereof.

Section 3.3. Execution, Authentication, Delivery and Dating.

(a) At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities in an aggregate principal amount (including all then Outstanding
Securities) not in excess of One Hundred Twenty Million Dollars ($120,000,000) executed by the
Company to the Trustee for authentication, together with 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; provided, however, any issuance of
Securities hereunder in excess of Ninety-Five Million Dollars ($95,000,000) shall be issued to
Taberna III (as defined in the Exchange Agreement) solely in connection with a transaction
involving the Non-Participating Trust I Securities (as defined in the Exchange Agreement). In
authenticating such Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities, the Trustee shall be entitled to receive, and shall be fully
protected in relying upon:

(i) a copy of any Board Resolution relating thereto; and

(ii) an Opinion of Counsel stating that: (1) such Securities, when authenticated and
delivered by the Trustee and issued by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will constitute, and the Indenture
constitutes, valid and legally binding obligations of the Company, each enforceable in
accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability relating to or
affecting creditors’ rights and to general equity principles; (2) the Securities have been
duly authorized and executed by the Company and have been delivered to the Trustee for
authentication in accordance with this Indenture; (3) the Securities are not required to be
registered under the Securities Act; and (4) the Indenture is not required to be qualified
under the Trust Indenture Act.

(b) The Securities shall be executed on behalf of the Company by its Chairman of the Board,
its Vice Chairman of the Board, its Chief Executive Officer, its President or one of its Vice
Presidents. 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.

(c) 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 the manual signature of
one of its authorized signatories, 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 3.8, 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.

(d) Each Security shall be dated the date of its authentication.

Section 3.4. Global Securities.

(a) Upon the election of the Holder after the Original Issue Date, which election need not be
in writing, the Securities owned by such Holder shall be issued in the form of one or more Global
Securities registered in the name of the Depositary or its nominee. Each Global Security issued
under this Indenture shall be registered in the name of the Depositary designated by the Company
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.

(b) Notwithstanding any other provision in this Indenture, no Global Security may be exchanged
in whole or in part for registered Securities, 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 (i) such Depositary advises the Trustee and the Company in
writing that such Depositary is no longer willing or able to properly discharge its
responsibilities as Depositary with respect to such Global Security, and no qualified successor is
appointed by the Company within ninety (90) days of receipt by the Company of such notice, (ii)
such Depositary ceases to be a clearing agency registered under the Exchange Act and no successor
is appointed by the Company within ninety (90) days after obtaining knowledge of such event, (iii)
the Company executes and delivers to the Trustee a Company Order stating that the Company elects to
terminate the book-entry system through the Depositary or (iv) an Event of Default shall have
occurred and be continuing. Upon the occurrence of any event specified in clause (i), (ii), (iii)
or (iv) above, the Trustee shall notify the Depositary and instruct the Depositary to notify all
owners of beneficial interests in such Global Security of the occurrence of such event and of the
availability of Securities to such owners of beneficial interests requesting the same. The Trustee
may conclusively rely, and be protected in relying, upon the written identification of the owners
of beneficial interests furnished by the Depositary, and shall not be liable for any delay
resulting from a delay by the Depositary. Upon the issuance of such Securities and the
registration in the Securities Register of such Securities in the names of the Holders of the
beneficial interests therein, the Trustees shall recognize such holders of beneficial interests as
Holders.

(c) If any Global Security is to be exchanged for other Securities or canceled in part, or if
another Security is to be exchanged in whole or in part for a beneficial interest in any Global
Security, then either (i) such Global Security shall be so surrendered for exchange or cancellation
as provided in this Article III or (ii) the principal amount thereof shall be reduced or
increased by an amount equal to (x) the portion thereof to be so exchanged or canceled, or (y) the
principal amount of such other Security to be so exchanged for a beneficial interest therein, as
the case may be, by means of an appropriate adjustment made on the records of the Securities
Registrar, whereupon the Trustee, in accordance with the Applicable Depositary Procedures, shall
instruct the Depositary or its authorized representative to make a corresponding adjustment to its
records. Upon any such surrender or adjustment of a Global Security by the Depositary, accompanied
by registration instructions, the Company shall execute and the Trustee shall authenticate and
deliver any Securities issuable in exchange for such Global Security (or any portion thereof) in
accordance with the instructions of the Depositary. The Trustee shall not be liable for any delay
in delivery of such instructions and may conclusively rely on, and shall be fully protected in
relying on, such instructions.

(d) 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 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.

(e) The Depositary or its nominee, as the registered owner of a Global Security, shall be the
Holder of such Global Security for all purposes under this Indenture and the Securities, and owners
of beneficial interests in a Global Security shall hold such interests pursuant to the Applicable
Depositary Procedures. Accordingly, any such owner’s beneficial interest in a Global Security
shall be shown only on, and the transfer of such interest shall be effected only through, records
maintained by the Depositary or its nominee or its Depositary Participants. The Securities
Registrar and the Trustee shall be entitled to deal with the Depositary for all purposes of this
Indenture relating to a Global Security (including the payment of principal and interest thereon
and the giving of instructions or directions by owners of beneficial interests therein and the
giving of notices) as the sole Holder of the Security and shall have no obligations to the owners
of beneficial interests therein. Neither the Trustee nor the Securities Registrar shall have any
liability in respect of any transfers effected by the Depositary.

(f) The rights of owners of beneficial interests in a Global Security shall be exercised only
through the Depositary and shall be limited to those established by law and agreements between such
owners and the Depositary and/or its Depositary Participants.

(g) No holder of any beneficial interest in any Global Security held on its behalf by a
Depositary shall have any rights under this Indenture with respect to such Global Security, and
such Depositary may be treated by the Company, the Trustee and any agent of the Company or the
Trustee as the owner of such Global Security for all purposes whatsoever. None of the Company, the
Trustee nor any agent of the Company or the Trustee will have any responsibility or liability for
any aspect of the records relating to or payments made on account of beneficial ownership interests
of a Global Security or maintaining, supervising or reviewing any records relating to such
beneficial ownership interests. Notwithstanding the foregoing, nothing herein shall prevent the
Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written
certification, proxy or other authorization furnished by a Depositary or impair, as between a
Depositary and such holders of beneficial interests, the operation of customary practices governing
the exercise of the rights of the Depositary (or its nominee) as Holder of any Security.

Section 3.5. Registration, Transfer and Exchange Generally.

(a) The Trustee shall cause to be kept at the Corporate Trust Office a register (the
“Securities Register”) in which the registrar and transfer agent with respect to the Securities
(the “Securities Registrar”), subject to such reasonable regulations as it may prescribe, shall
provide for the registration of Securities and of transfers and exchanges of Securities. The
Trustee shall at all times also be the Securities Registrar. The provisions of Article VI
shall apply to the Trustee in its role as Securities Registrar.

(b) Subject to compliance with Section 2.2(b), upon surrender for registration of
transfer of any Security at the offices or agencies of the Company designated for that purpose the
Company shall execute, and the Trustee shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Securities of any authorized denominations of
like tenor and aggregate principal amount.

(c) At the option of the Holder, Securities may be exchanged for other Securities of any
authorized denominations, of like tenor and aggregate principal amount, upon surrender of the
Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered
for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the
Securities that the Holder making the exchange is entitled to receive.

(d) All Securities issued upon any 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 transfer or exchange.

(e) Every Security presented or surrendered for transfer or 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 Securities Registrar, duly executed by the Holder
thereof or such Holder’s attorney duly authorized in writing.

(f) No service charge shall be made to a Holder for any 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 transfer or exchange of Securities.

(g) Neither the Company nor the Trustee shall be required pursuant to the provisions of this
Section 3.5 (g): (i) to issue, register the transfer of or exchange any Security during a
period beginning at the opening of business fifteen (15) days before the day of selection for
redemption of Securities pursuant to Article XI and ending at the close of business on the
day of mailing of the notice of redemption or (ii) to register the transfer of or exchange any
Security so selected for redemption in whole or in part, except, in the case of any such Security
to be redeemed in part, any portion thereof not to be redeemed.

(h) The Company shall designate an office or offices or agency or agencies where Securities
may be surrendered for registration or transfer or exchange. The Company initially designates the
Corporate Trust Office as its office and agency for such purposes. The Company shall give prompt
written notice to the Trustee and to the Holders of any change in the location of any such office
or agency.

(i) The Securities may only be transferred to a “Qualified Purchaser” as such term is defined
in Section 2(a)(51) of the Investment Company Act.

(j) Neither the Trustee nor the Securities Registrar shall be responsible for ascertaining
whether any transfer hereunder complies with the registration provisions of or any exemptions from
the Securities Act, applicable state securities laws or the applicable laws of any other
jurisdiction, ERISA, the Code, or the Investment Company Act; provided, that if a certificate is
specifically required by the express terms of this Section 3.5 to be delivered to the
Trustee or the Securities Registrar by a Holder or transferee of a Security, the Trustee and the
Securities Registrar shall be under a duty to receive and examine the same to determine whether or
not the certificate substantially conforms on its face to the requirements of this Indenture and
shall promptly notify the party delivering the same if such certificate does not comply with such
terms.

Section 3.6. Mutilated, Destroyed, Lost and Stolen Securities.

(a) If any mutilated Security is surrendered to the Trustee together with such security or
indemnity as may be required by the Trustee to save the Company and the Trustee harmless, the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new
Security of like tenor and aggregate principal amount and bearing a number not contemporaneously
outstanding.

(b) If there shall be delivered to the Trustee (i) evidence to its satisfaction of the
destruction, loss or theft of any Security and (ii) such security or indemnity as may be required
by it to save each of the Company and the Trustee harmless, then, in the absence of notice to the
Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company
shall execute and upon its written request the Trustee shall authenticate and deliver, in lieu of
any such destroyed, lost or stolen Security, a new Security of like tenor and aggregate principal
amount as such destroyed, lost or stolen Security, and bearing a number not contemporaneously
outstanding.

(c) If 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.

(d) Upon the issuance of any new Security under this Section 3.6, the Company may
require the payment of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee)
connected therewith.

(e) Every new Security issued pursuant to this Section 3.6 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 duly issued hereunder.

(f) The provisions of this Section 3.6 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 3.7. Persons Deemed Owners.

The Company, the Trustee and any agent of the Company or the Trustee shall treat the Person in
whose name any Security is registered as the owner of such Security for the purpose of receiving
payment of principal of and any interest on such Security and for all other purposes whatsoever,
and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected
by notice to the contrary.

Section 3.8. Cancellation.

All Securities surrendered for payment, redemption, transfer or exchange shall, if surrendered
to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and
Securities surrendered directly to the Trustee for any such purpose shall be promptly canceled by
it. The Company may at any time deliver to the Trustee for cancellation any Securities previously
authenticated and delivered hereunder that the Company may have acquired in any manner whatsoever,
and all Securities so delivered shall be promptly canceled by the Trustee. No Securities shall be
authenticated in lieu of or in exchange for any Securities canceled as provided in this Section
3.8, except as expressly permitted by this Indenture. All canceled Securities shall be
retained or disposed of by the Trustee in accordance with its customary practices and the Trustee
shall deliver to the Company a certificate of such disposition.

	 	 	 
	Section 3.9.

Section 3.10.

Section 3.11.

	 	Reserved.

Reserved.

Agreed Tax Treatment.

Each Security issued hereunder shall provide that the Company and, by its acceptance or
acquisition of a Security or a beneficial interest therein, each Holder of, and any Person that
acquires a direct or indirect beneficial interest in, such Security, intend and agree to treat such
Security as indebtedness for United States Federal, state and local tax purposes, and agree to
report as such for all such tax purposes and financial reporting purposes. The provisions of this
Indenture shall be interpreted to further this intention and agreement of the parties.

Section 3.12. CUSIP Numbers.

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

ARTICLE IV

SATISFACTION AND DISCHARGE

Section 4.1. Satisfaction and Discharge of Indenture.

This Indenture shall, upon Company Request, cease to be of further effect (except as to any
surviving rights of registration of transfer or exchange of Securities herein expressly provided
for and as otherwise provided in this Section 4.1) and the Trustee, on demand of and at the
expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture, when

(a) either

(i) all Securities theretofore authenticated and delivered (other than (A) Securities
that have been mutilated, destroyed, lost or stolen and that have been replaced or paid as
provided in Section 3.6 and (B) 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 10.2) have been
delivered to the Trustee for cancellation; or

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

(A) have become due and payable, or

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

(C) 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 subclause (ii)(A), (B) or (C) above, has deposited or caused
to be deposited with the Trustee as trust funds in trust for such purpose (x) an amount in
the currency or currencies in which the Securities are payable, (y) Government Obligations
which through the scheduled payment of principal and interest in respect thereof in
accordance with their terms will provide, not later than the due date of any payment, money
in an amount or (z) a combination thereof, in each case sufficient, in the opinion of a
nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge the entire indebtedness
on such Securities not theretofore delivered to the Trustee for cancellation, for principal
and any premium and interest (including any Additional Interest) to the date of such deposit
(in the case of Securities that have become due and payable) or to the Stated Maturity (or
any date of principal repayment upon early maturity) or Redemption Date, as the case may be;

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

(c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel each stating that all conditions precedent herein provided for relating to the satisfaction
and discharge of this Indenture have been complied with.

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to
the Trustee under Section 6.6, the obligations of the Company to any Authenticating Agent
under Section 6.11 and, if money shall have been deposited with the Trustee pursuant to
subclause (a)(ii) of this Section 4.1, the obligations of the Trustee under Section
4.2 and Section 10.2(e) shall survive.

Section 4.2. Application of Trust Money.

Subject to the provisions of Section 10.2(e), all money deposited with the Trustee
pursuant to Section 4.1 shall be held in trust and applied by the Trustee, in accordance
with the provisions of the Securities and this Indenture, to the payment in accordance with
Section 3.1, 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 any premium and interest (including any Additional Interest) for the payment of which
such money or obligations have been deposited with or received by the Trustee. Moneys held by the
Trustee under this Section 4.2 shall not be subject to the claims of holders of Senior Debt
under Article XII.

ARTICLE V

REMEDIES

Section 5.1. Events of Default.

“Event of Default” means, wherever used herein with respect to the Securities, 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):

(a) default in the payment of any interest upon any Security, including any Additional
Interest in respect thereof, when it becomes due and payable, and continuance of such default for a
period of thirty (30) days; provided, however, during the Modification Period, such thirty (30) day
period shall only be ten (10) calendar days; or

(b) default in the payment of the principal of or any premium on any Security at its Maturity;
or

(c) default in the performance, or breach, of any covenant or warranty of the Company in this
Indenture and continuance of such default or breach for a period of thirty (30) days after there
has been given, by registered or certified mail, to the Company by the Trustee or to the Company
and the Trustee by the Holders of at least twenty five percent (25%) in aggregate principal amount
of the Outstanding Securities a written notice specifying such default or breach and requiring it
to be remedied and stating that such notice is a “Notice of Default” hereunder; or

(d) the entry by a court having jurisdiction in the premises of a decree or order adjudging
the Company a bankrupt or insolvent, or approving as properly filed a petition seeking
reorganization, arrangement, adjustment or composition of or in respect of the Company under any
applicable Federal or state bankruptcy, insolvency, reorganization or other similar law, or
appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar
official of the Company or of any substantial part of its property, or ordering the winding up or
liquidation of its affairs, and the continuance of any such decree or order for relief or any such
other decree or order unstayed and in effect for a period of sixty (60) consecutive days; or

(e) the institution by the Company of proceedings to be adjudicated a bankrupt or insolvent,
or the consent by the Company to the institution of bankruptcy or insolvency proceedings against
it, or the filing by the Company of a petition or answer or consent seeking reorganization or
relief under any applicable Federal or state bankruptcy, insolvency, reorganization or other
similar law, or the consent by it to the filing of such petition or to the appointment of or taking
possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar
official of the Company or of any substantial part of its property, or the making by it of an
assignment for the benefit of creditors, or the admission by it in writing of its inability to pay
its debts generally as they become due and its willingness to be adjudicated a bankrupt or
insolvent, or the taking of corporate action by the Company in furtherance of any such action; or

(f) any holder of the Seller Notes (i) exercises any rights of foreclosure against any
collateral of the Company or any of its Subsidiaries or (ii) takes any other affirmative steps in
furtherance of a foreclosure against any collateral of the Company or any of its Subsidiaries; or

(g) the occurrence of any “event of default”, which has not been cured or waived, pursuant to
any underlying document relating to any indebtedness the proceeds of which are used to refinance
all or any portion of the Seller Notes; or

(h) the occurrence of an Event of Default under, and as defined in, Section 5.1(a)
of that certain Junior Subordinated Indenture, dated September 29, 2005, by and between the
Company and the Trustee, as amended by that certain Supplemental Indenture, dated May 6, 2008, that
certain Second Supplemental Indenture, dated September 26, 2008, and that certain Third
Supplemental Indenture, dated July 31, 2009 (collectively, the “Trust I Indenture”).

Section 5.2. Acceleration of Maturity; Rescission and Annulment.

(a) If an Event of Default occurs and is continuing, then and in every such case the Trustee
or the Holders of not less than twenty- five percent (25%) in aggregate principal amount of the
Outstanding Securities may declare the principal amount of all the Securities 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 the principal amount of and the accrued interest (including any
Additional Interest) on all the Securities shall become immediately due and payable.

(b) At any time after such a declaration of acceleration with respect to Securities has been
made and before a judgment or decree for payment of the money due has been obtained by the Trustee
as hereinafter provided in this Article V, the Holders of a majority in aggregate principal
amount of the Outstanding Securities, by written notice to the Trustee, may rescind and annul such
declaration and its consequences if:

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

(A) all overdue installments of interest on all Securities,

(B) any accrued Additional Interest on all Securities,

(C) the principal of and any premium on any Securities that have become due
otherwise than by such declaration of acceleration and interest (including any
Additional Interest) thereon at the rate borne by the Securities, and

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

(ii) all Events of Default with respect to Securities, other than the non-payment of
the principal of Securities that has become due solely by such acceleration, have been cured
or waived as provided in Section 5.13;

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

	Section 5.3.

	 	Collection of Indebtedness and Suits for Enforcement by Trustee.

(a) The Company covenants that if:

(i) default is made in the payment of any installment of interest (including any
Additional Interest) on any Security when such interest becomes due and payable and such
default continues for a period of thirty (30) days, or

(ii) default is made in the payment of the principal of and any premium on any Security
at the Maturity thereof,

the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of
such Securities, the whole amount then due and payable on such Securities for principal and any
premium and interest (including any Additional Interest) and, in addition thereto, all amounts
owing the Trustee under Section 6.6.

(b) If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its
own name and as trustee of an express trust, may institute a judicial proceeding for the collection
of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and
may enforce the same against the Company or any other obligor upon such Securities and collect the
moneys adjudged or decreed to be payable in the manner provided by law out of the property of the
Company or any other obligor upon the Securities, wherever situated.

(c) If an Event of Default with respect to Securities occurs and is continuing, the Trustee
may in its discretion proceed to protect and enforce its rights and the rights of the Holders of
Securities by such appropriate judicial proceedings as the Trustee shall deem most effectual to
protect and enforce any such rights, whether for the specific enforcement of any covenant or
agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce
any other proper remedy.

Section 5.4. Trustee May File Proofs of Claim.

In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
adjustment, composition or similar 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
hereunder 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
first pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel, and any other amounts owing the Trustee, any
predecessor Trustee and other Persons under Section 6.6.

Section 5.5. Trustee May Enforce Claim 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, subject
to Article XII and after provision for the payment of all the amounts owing the Trustee,
any predecessor Trustee and other Persons under Section 6.6, be for the ratable benefit of
the Holders of the Securities in respect of which such judgment has been recovered.

Section 5.6. Application of Money Collected.

Any money or property collected or to be applied by the Trustee with respect to the Securities
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 or property on account of
principal or any premium or interest (including any Additional 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, any predecessor Trustee and other
Persons under Section 6.6;

SECOND: To the payment of all Senior Debt of the Company if and to the extent required by
Article XII;

THIRD: Subject to Article XII, to the payment of the amounts then due and unpaid upon
the Securities for principal and any premium and interest (including any Additional Interest) in
respect of which or for the benefit of which such money has been collected, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Securities for
principal and any premium and interest (including any Additional Interest), respectively; and

	 	 	 
	FOURTH: The balance, if any, to the Person or Persons entitled thereto.

	Section 5.7.

	 	Limitation on Suits.

Subject to Section 5.8, no Holder of any Securities shall have any right to institute
any proceeding, judicial or otherwise, with respect to this Indenture or for the appointment of a
custodian, receiver, assignee, trustee, liquidator, sequestrator (or other similar official) or for
any other remedy hereunder, unless:

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

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

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

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

(e) no direction inconsistent with such written request has been given to the Trustee during
such sixty (60)-day period by the Holders of a majority in aggregate principal amount of the
Outstanding Securities;

it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing itself of, any provision of this Indenture to affect,
disturb or prejudice the rights of any other Holders of Securities, or to obtain or to seek to
obtain priority or preference over any other of such Holders or to enforce any right under this
Indenture, except in the manner herein provided and for the equal and ratable benefit of all such
Holders.

Section 5.8. Unconditional Right of Holders to Receive Principal, Premium, if any, and
Interest.

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of and any
premium on such Security at its Maturity and payment of interest (including any Additional
Interest) on such Security when due and payable and to institute suit for the enforcement of any
such payment, and such right shall not be impaired without the consent of such Holder.

Section 5.9. Restoration of Rights and Remedies.

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

Section 5.10. Rights and Remedies Cumulative.

Except as otherwise provided in Section 3.6(f), no right or remedy herein conferred
upon or reserved to the Trustee or 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 5.11. Delay or Omission Not Waiver.

No delay or omission of the Trustee or 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 the Holders, as the case may be.

Section 5.12. Control by Holders.

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

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

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

(c) subject to the provisions of Section 6.2, the Trustee shall have the right to
decline to follow such direction if a Responsible Officer or Officers of the Trustee shall, in good
faith, reasonably determine that the proceeding so directed would be unjustly prejudicial to the
Holders not joining in any such direction or would involve the Trustee in personal liability.

Section 5.13. Waiver of Past Defaults.

(a) The Holders of not less than a majority in aggregate principal amount of the Outstanding
Securities may waive any past Event of Default hereunder and its consequences except an Event of
Default:

(i) in the payment of the principal of or any premium or interest (including any
Additional Interest) on any Outstanding Security (unless such Event of Default has been
cured and the Company has paid to or deposited with the Trustee a sum sufficient to pay all
installments of interest (including any Additional Interest) due and past due and all
principal of and any premium on all Outstanding Securities due otherwise than by
acceleration), or

(ii) in respect of a covenant or provision hereof that under Article IX cannot
be modified or amended without the consent of each Holder of any Outstanding Security.

(b) Any such waiver shall be deemed to be on behalf of the Holders of all the Outstanding
Securities.

(c) Upon any such waiver, such Event of 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 Event of Default or impair any right consequent
thereon.

Section 5.14. Undertaking for Costs.

All parties to this Indenture agree, and each Holder of any Security by his or her acceptance
thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit
for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee
for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of
an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
such suit, having due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section 5.14 shall not apply to any suit
instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in
the aggregate more than ten percent (10%) in aggregate principal amount of the Outstanding
Securities, or to any suit instituted by any Holder for the enforcement of the payment of the
principal of or any premium on the Security after the Stated Maturity or any interest (including
any Additional Interest) on any Security after it is due and payable.

Section 5.15. 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.

ARTICLE VI

THE TRUSTEE

Section 6.1. Corporate Trustee Required.

There shall at all times be a Trustee hereunder with respect to the Securities. The Trustee
shall be a corporation or national banking association organized and doing business under the laws
of the United States or of any state thereof, authorized to exercise corporate trust powers, having
a combined capital and surplus of at least $50,000,000, subject to supervision or examination by
Federal or state authority and having an office within the United States. If such entity publishes
reports of condition at least annually, pursuant to law or to the requirements of such supervising
or examining authority, then, for the purposes of this Section 6.1, the combined capital
and surplus of such entity shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. If at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section 6.1, it shall resign immediately
in the manner and with the effect hereinafter specified in this Article VI.

Section 6.2. Certain Duties and Responsibilities.

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

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

(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; provided, that in the case of any such certificates or opinions that 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 substantially conform
on their face to the requirements of this Indenture.

(b) If an Event of Default known to the Trustee has occurred and is continuing, the Trustee
shall, prior to the receipt of directions, if any, from the Holders of at least a majority in
aggregate principal amount of the Outstanding Securities, exercise such of the rights and powers
vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a
prudent person would exercise or use under the circumstances in the conduct of such person’s own
affairs.

(c) Notwithstanding the foregoing, no provision of this Indenture shall require the Trustee to
expend or risk its own funds or otherwise incur any financial liability in the performance of any
of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that repayment of such funds or adequate indemnity against such
risk or liability is not reasonably assured to it. Whether or not therein expressly so provided,
every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section 6.2.
To the extent that, at law or in equity, the Trustee has duties and liabilities relating to the
Holders, the Trustee shall not be liable to any Holder for the Trustee’s good faith reliance on the
provisions of this Indenture. The provisions of this Indenture, to the extent that they restrict
the duties and liabilities of the Trustee otherwise existing at law or in equity, are agreed by the
Company and the Holders to replace such other duties and liabilities of the Trustee.

(d) No provisions of this Indenture shall be construed to relieve the Trustee from liability
with respect to matters that are within the authority of the Trustee under this Indenture for its
own negligent action, negligent failure to act or willful misconduct, except that:

(i) the Trustee shall not be liable for any error or judgment made in good faith by an
authorized officer of the Trustee, unless it shall be proved that the Trustee was negligent
in ascertaining the pertinent facts;

(ii) 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 at least a
majority in aggregate principal amount of the Outstanding Securities (or such other
percentage as may be required by the terms hereof) relating to the time, method and place of
conducting any proceeding for any remedy available to the Trustee hereunder; and

(iii) the Trustee shall be under no liability for interest on any money received by it
hereunder except as otherwise agreed in writing with the Company and money held by the
Trustee in trust hereunder need not be segregated from other funds except to the extent
required by law.

Section 6.3. Notice of Defaults.

Within ninety (90) days after the occurrence of any default actually known to the Trustee, the
Trustee shall give the Holders notice of such default unless such default shall have been cured or
waived; provided, that except in the case of a default in the payment of the principal of or any
premium or interest on any Securities, the Trustee shall be fully protected in withholding the
notice if and so long as the board of directors, the executive committee or a trust committee of
directors and/or Responsible Officers of the Trustee in good faith determines that withholding the
notice is in the interest of Holders of Securities; and provided, further, that in the case of any
default of the character specified in Section 5.1(c), no such notice to Holders shall be
given until at least thirty (30) days after the occurrence thereof. For the purpose of this
Section 6.3, the term “default” means any event which is, or after notice or lapse of time
or both would become, an Event of Default.

Section 6.4. Certain Rights of Trustee.

Subject to the provisions of Section 6.2:

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

(b) if (i) in performing its duties under this Indenture the Trustee is required to decide
between alternative courses of action, (ii) in construing any of the provisions of this Indenture
the Trustee finds ambiguous or inconsistent with any other provisions contained herein or (iii) the
Trustee is unsure of the application of any provision of this Indenture, then, except as to any
matter as to which the Holders are entitled to decide under the terms of this Indenture, the
Trustee shall deliver a notice to the Company requesting the Company’s written instruction as to
the course of action to be taken and the Trustee shall take such action, or refrain from taking
such action, as the Trustee shall be instructed in writing to take, or to refrain from taking, by
the Company; provided, that if the Trustee does not receive such instructions from the Company
within ten (10) Business Days after it has delivered such notice or such reasonably shorter period
of time set forth in such notice the Trustee may, but shall be under no duty to, take such action,
or refrain from taking such action, as the Trustee shall deem advisable and in the best interests
of the Holders, in which event the Trustee shall have no liability except for its own negligence,
bad faith or willful misconduct;

(c) any request or direction of the Company shall be sufficiently evidenced by a Company
Request or Company Order and any resolution of the Board of Directors may be sufficiently evidenced
by a Board Resolution;

(d) the Trustee may consult with counsel (which counsel may be counsel to the Trustee, the
Company or any of its Affiliates, and may include any of its employees) 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;

(e) 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 (including reasonable attorneys’ fees and expenses) and
liabilities that might be incurred by it in compliance with such request or direction, including
reasonable advances as may be requested by the Trustee;

(f) 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, indenture, note or other paper or document, but the Trustee in its discretion
may make such inquiry or investigation into such facts or matters as it may see fit, and, if the
Trustee shall determine to make such inquiry or investigation, it shall be entitled to examine the
books, records and premises of the Company, personally or by agent or attorney;

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

(h) whenever in the administration of this Indenture the Trustee shall deem it desirable to
receive instructions with respect to enforcing any remedy or right or taking any other action with
respect to enforcing any remedy or right hereunder, the Trustee (i) may request instructions from
the Holders (which instructions may only be given by the Holders of the same aggregate principal
amount of Outstanding Securities as would be entitled to direct the Trustee under this Indenture in
respect of such remedy, right or action), (ii) may refrain from enforcing such remedy or right or
taking such action until such instructions are received and (iii) shall be protected in acting in
accordance with such instructions;

(i) except as otherwise expressly provided by this Indenture, the Trustee shall not be under
any obligation to take any action that is discretionary under the provisions of this Indenture;

(j) without prejudice to any other rights available to the Trustee under applicable law, when
the Trustee incurs expenses or renders services in connection with any bankruptcy, insolvency or
other proceeding referred to in clauses (d) or (e) of the definition of Event of Default, such
expenses (including legal fees and expenses of its agents and counsel) and the compensation for
such services are intended to constitute expenses of administration under any bankruptcy laws or
law relating to creditors rights generally;

(k) 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 Officers’ Certificate addressing such matter, which, upon
receipt of such request, shall be promptly delivered by the Company;

(l) the Trustee shall not be charged with knowledge of any Event of Default unless either (i)
a Responsible Officer of the Trustee shall have actual knowledge or (ii) the Trustee shall have
received written notice thereof from the Company or a Holder; and

(m) in the event that the Trustee is also acting as Paying Agent, Authenticating Agent or
Securities Registrar hereunder, the rights and protections afforded to the Trustee pursuant to this
Article VI shall also be afforded such Paying Agent, Authenticating Agent, or Securities
Registrar.

Section 6.5. May Hold Securities.

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

Section 6.6. Compensation; Reimbursement; Indemnity.

(a) The Company agrees:

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

(ii) to reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision
of this Indenture (including the reasonable compensation and the expenses and disbursements
of its agents and counsel), except any such expense, disbursement or advance as may be
attributable to its negligence, bad faith or willful misconduct; and

(iii) to the fullest extent permitted by applicable law, to indemnify the Trustee and
its Affiliates, and their officers, directors, shareholders, agents, representatives and
employees for, and to hold them harmless against, any loss, damage, liability, tax (other
than income, franchise or other taxes imposed on amounts paid pursuant to (i) or (ii)
hereof), penalty, expense or claim of any kind or nature whatsoever incurred without
negligence, bad faith or willful misconduct on its part arising out of or in connection with
the acceptance or administration of this trust or the performance of the Trustee’s duties
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.

(b) To secure the Company’s payment obligations in this Section 6.6, the Company
hereby grants and pledges to the Trustee and the Trustee shall have a lien prior to the Securities
on all money or property held or collected by the Trustee, other than money or property held in
trust to pay principal and interest on particular Securities. Such lien shall survive the
satisfaction and discharge of this Indenture or the resignation or removal of the Trustee.

(c) The obligations of the Company under this Section 6.6 shall survive the
satisfaction and discharge of this Indenture and the earlier resignation or removal of the Trustee.

(d) In no event shall the Trustee be liable for any indirect, special, punitive or
consequential loss or damage of any kind whatsoever, including, but not limited to, lost profits,
even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the
form of action.

(e) In no event shall the Trustee be liable for any failure or delay in the performance of its
obligations hereunder because of circumstances beyond its control, including, but not limited to,
acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot, embargo,
government action, including any laws, ordinances, regulations, governmental action or the like
which delay, restrict or prohibit the providing of the services contemplated by this Indenture.

Section 6.7. Resignation and Removal; Appointment of Successor.

(a) 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 under Section 6.8.

(b) The Trustee may resign at any time by giving written notice thereof to the Company.

(c) Unless an Event of Default shall have occurred and be continuing, the Trustee may be
removed at any time by the Company by a Board Resolution. If an Event of Default shall have
occurred and be continuing, the Trustee may be removed by Act of the Holders of a majority in
aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the
Company.

(d) 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 reason, at a time when no Event of Default shall have
occurred and be continuing, the Company, by a Board Resolution, shall promptly appoint a successor
Trustee, and such successor Trustee and the retiring Trustee shall comply with the applicable
requirements of Section 6.8. 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 reason, at a time when an
Event of Default shall have occurred and be continuing, the Holders, by Act of the Holders of a
majority in aggregate principal amount of the Outstanding Securities, shall promptly appoint a
successor Trustee, and such successor Trustee and the retiring Trustee shall comply with the
applicable requirements of Section 6.8. If no successor Trustee shall have been so
appointed by the Company or the Holders and accepted appointment within sixty (60) days after the
giving of a notice of resignation by the Trustee or the removal of the Trustee in the manner
required by Section 6.8, any Holder who has been a bona fide Holder of a Security for at
least six months (or, if the Securities have been Outstanding for less than six (6) months, the
entire period of such lesser time) may, on behalf of such Holder and all others similarly situated,
and any resigning Trustee may, at the expense of the Company, petition any court of competent
jurisdiction for the appointment of a successor Trustee.

(e) The Company shall give notice to all Holders in the manner provided in Section 1.6
of each resignation and each removal of the Trustee and each appointment of a successor Trustee.
Each notice shall include the name of the successor Trustee and the address of its Corporate Trust
Office.

Section 6.8. Acceptance of Appointment by Successor.

(a) In case of the appointment hereunder of a successor Trustee, each successor Trustee so
appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an
instrument accepting such appointment, and thereupon the resignation or removal of the retiring
Trustee shall become effective and such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall,
upon payment of its charges, execute and deliver an instrument transferring to such successor
Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer
and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder.

(b) 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
rights, powers and trusts referred to in paragraph (a) of this Section 6.8.

(c) 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 6.9. Merger, Conversion, Consolidation or Succession to Business.

Any Person into which the Trustee may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or consolidation to which the
Trustee shall be a party, or any Person succeeding to all or substantially all of the corporate
trust business of the Trustee, shall be the successor of the Trustee hereunder, without the
execution or filing of any paper or any further act on the part of any of the parties hereto,
provided, that such Person shall be otherwise qualified and eligible under this Article VI.
In case any Securities shall have been authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation or as otherwise provided above in this
Section 6.9 to such authenticating Trustee may adopt such authentication and deliver the
Securities so authenticated, and in case any Securities shall not have been authenticated, any
successor to the Trustee may authenticate such Securities either in the name of any predecessor
Trustee or in the name of such successor Trustee, and in all cases the certificate of
authentication shall have the full force which it is provided anywhere in the Securities or in this
Indenture that the certificate of the Trustee shall have.

Section 6.10. Not Responsible for Recitals or Issuance of Securities.

The recitals contained herein and in the Securities, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Securities. Neither
the Trustee nor any Authenticating Agent shall be accountable for the use or application by the
Company of the Securities or the proceeds thereof.

Section 6.11. Appointment of Authenticating Agent.

(a) The Trustee may appoint an Authenticating Agent or Agents with respect to the Securities,
which shall be authorized to act on behalf of the Trustee to authenticate Securities issued upon
original issue and upon exchange, registration of transfer or partial redemption thereof or
pursuant to Section 3.6, 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. Each Authenticating Agent shall be acceptable to the Company and shall at all times be an
entity organized and doing business under the laws of the United States of America, or of any State
or Territory 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 6.11 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 6.11, such Authenticating Agent shall resign immediately in the manner and with the
effect specified in this Section 6.11.

(b) Any Person into which an Authenticating Agent may be merged or converted or with which it
may be consolidated, or any Person resulting from any merger, conversion or consolidation to which
such Authenticating Agent shall be a party, or any Person succeeding to all or substantially all of
the corporate trust business of an Authenticating Agent shall be the successor Authenticating Agent
hereunder, provided such Person shall be otherwise eligible under this Section 6.11,
without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent.

(c) 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 a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the provisions of this
Section 6.11, the Trustee may appoint a successor Authenticating Agent eligible under the
provisions of this Section 6.11, which shall be acceptable to the Company, and shall give
notice of such appointment to all Holders. 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.

(d) The Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section 6.11 in such amounts as the Company and
the Authenticating Agent shall agree from time to time.

(e) If an appointment of an Authenticating Agent is made pursuant to this
Section 6.11, the Securities may have endorsed thereon, in addition to the Trustee’s
certificate of authentication, an alternative certificate of authentication in substantially the
following form:

This is one of the Securities referred to in the within mentioned Indenture.

Dated:

[AUTHENTICATING AGENT]

By:

Authenticating Agent

By:

Authorized Signatory

ARTICLE VII

HOLDER’S LISTS AND REPORTS BY COMPANY

Section 7.1. Company to Furnish Trustee Names and Addresses of Holders.

The Company will furnish or cause to be furnished to the Trustee, at such times as the Trustee
may request in writing, within fifteen (15) days after the receipt by the Company of any such
request, a list, in such form as the Trustee may reasonably require, of the names and addresses of
the Holders as of a date not more than five (5) days prior to the delivery thereof, in each case to
the extent such information is in the possession or control of the Company and has not otherwise
been received by the Trustee in its capacity as Securities Registrar.

Section 7.2. Preservation of Information, Communications to Holders.

(a) 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 7.1 and the names and addresses of Holders received by the Trustee in its capacity
as Securities Registrar. The Trustee may destroy any list furnished to it as provided in
Section 7.1 upon receipt of a new list so furnished.

(b) 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 in the Trust Indenture Act.

(c) 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 the disclosure of information as to the names and addresses of the Holders
made pursuant to the Trust Indenture Act.

Section 7.3. Reports by Company.

(a) The Company shall furnish to the Holders and to prospective purchasers of Securities, upon
their request, the information required to be furnished pursuant to Rule 144A(d)(4) under the
Securities Act. The delivery requirement set forth in the preceding sentence may be satisfied by
compliance with Section 7.3(b) hereof.

(b) The Company shall furnish to each of (i) the Trustee, (ii) the Holders and to subsequent
holders of Securities, (iii) Taberna Capital Management, LLC, 450 Park Avenue, Floor 11, New York,
New York 10022, Attn: Raphael Licht (or such other address as designated by Taberna Capital
Management, LLC) and (iv) any beneficial owner of the Securities reasonably identified to the
Company (which identification may be made either by such beneficial owner or by Taberna Capital
Management, LLC), a duly completed and executed certificate substantially and substantively in the
form attached hereto as Exhibit A, including the financial statements referenced in such
Exhibit, which certificate and financial statements shall be so furnished by the Company not later
than forty-five (45) days after the end of each of the first three fiscal quarters of each fiscal
year of the Company and not later than ninety (90) days after the end of each fiscal year of the
Company.

(c) The Company intends to file its annual and quarterly information with the Securities and
Exchange Commission (the “Commission”) in electronic form pursuant to Regulation S-T of the
Commission using the Commission’s Electronic Data Gathering, Analysis and Retrieval (“EDGAR”)
system. The Trustee is hereby authorized and directed to access the EDGAR system for purposes of
retrieving the financial information so filed. Compliance with the foregoing shall constitute
delivery by the Company of its financial statements to the Trustee in compliance with the
provisions of Section 314(a) of the Trust Indenture Act, if applicable. The Trustee shall have no
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. Delivery of
reports, information and documents to the Trustee pursuant to this Section 7.3(c) shall be
solely for purposes of compliance with this Section 7.3(c) and, if applicable, with Section
314(a) of the Trust Indenture Act. The Trustee’s receipt of such reports, information and documents
shall not constitute notice to it of the content thereof or any matter determinable from the
content thereof, including the Company’s compliance with any of its covenants hereunder, as to
which the Trustee is entitled to rely upon Officers’ Certificates.

ARTICLE VIII

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

Section 8.1. Company May Consolidate, Etc., Only on Certain Terms.

The Company shall not consolidate with or merge into any other Person or convey, transfer or
lease its properties and all or substantially all of its assets to any Person, and no Person shall
consolidate with or merge into the Company or convey, transfer or lease its properties and all or
substantially all of its assets, unless:

(a) if the Company shall consolidate with or merge into another Person or convey, transfer or
lease its properties and assets substantially as an entirety to any Person, the entity formed by
such consolidation or into which the Company is merged or the Person that acquires by conveyance or
transfer, or that leases, the properties and assets of the Company substantially as an entirety
shall (i) be an entity organized and existing under the laws of the United States of America or any
State or Territory thereof or the District of Columbia and (ii) expressly assume, by an indenture
supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the
Trustee, the due and punctual payment of the principal of and any premium and interest (including
any Additional Interest) on all the Securities and the performance of every covenant of this
Indenture on the part of the Company to be performed or observed;

(b) immediately after giving effect to such transaction, no Event of Default, and no event
that, after notice or lapse of time, or both, would constitute an Event of Default, shall have
happened and be continuing; and

(c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a
supplemental indenture is required in connection with such transaction, any such supplemental
indenture comply with this Article VIII and that all conditions precedent herein provided
for relating to such transaction have been complied with; and the Trustee may rely upon such
Officers’ Certificate and Opinion of Counsel as conclusive evidence that such transaction complies
with this Section 8.1.

Section 8.2. Successor Company Substituted.

(a) Upon any consolidation or merger by the Company with or into any other Person, or any
conveyance, transfer or lease by the Company of its properties and all or substantially all of its
assets to any Person, in each case, in accordance with Section 8.1 and the execution and
delivery to the Trustee of the supplemental indenture described in Section 8.1(a), the
successor entity formed by such consolidation or into which the Company is merged or to which such
conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise
every right and power of, the Company under this Indenture with the same effect as if such
successor Person had been named as the Company herein; and in the event of any such conveyance or
transfer, following the execution and delivery of such supplemental indenture, the Company shall be
discharged from all obligations and covenants under the Indenture and the Securities.

(b) Such successor Person may cause to be executed, and may issue either in its own name or in
the name of the Company, any or all of the Securities issuable hereunder that theretofore shall not
have been signed by the Company and delivered to the Trustee; and, upon the order of such successor
Person instead of the Company and subject to all the terms, conditions and limitations in this
Indenture prescribed, the Trustee shall authenticate and shall deliver any Securities that
previously shall have been signed and delivered by the officers of the Company to the Trustee for
authentication, and any Securities that such successor Person thereafter shall cause to be executed
and delivered to the Trustee on its behalf. All the Securities so issued shall in all respects
have the same legal rank and benefit under this Indenture as the Securities theretofore or
thereafter issued in accordance with the terms of this Indenture.

(c) In case of any such consolidation, merger, sale, conveyance or lease, such changes in
phraseology and form may be made in the Securities thereafter to be issued as may be appropriate to
reflect such occurrence.

ARTICLE IX

SUPPLEMENTAL INDENTURES

Section 9.1. Supplemental Indentures without Consent of Holders.

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

(a) to evidence the succession of another Person to the Company, and the assumption by any
such successor of the covenants of the Company herein and in the Securities; or

(b) to evidence and provide for the acceptance of appointment hereunder by a successor
trustee; or

(c) to cure any ambiguity, to correct or supplement any provision herein that may be defective
or inconsistent with any other provision herein, or to make or amend any other provisions with
respect to matters or questions arising under this Indenture, which shall not be inconsistent with
the other provisions of this Indenture, provided, that such action pursuant to this clause (c)
shall not adversely affect in any material respect the interests of any Holders; or

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

(e) to add to the covenants, restrictions or obligations of the Company or to add to the
Events of Default, provided, that such action pursuant to this clause (e) shall not adversely
affect in any material respect the interests of any Holders; or

(f) to modify, eliminate or add to any provisions of the Indenture or the Securities to such
extent as shall be necessary to ensure that the Securities are treated as indebtedness of the
Company for United States Federal income tax purposes, provided, that such action pursuant to this
clause (f) shall not adversely affect in any material respect the interests of any Holders.

Section 9.2. Supplemental Indentures with Consent of Holders.

(a) Subject to Section 9.1, with the consent of the Holders of not less than a
majority in aggregate principal amount of the Outstanding Securities which have responded within
ten (10) Business Days after delivery to the Holders by the Company or the Trustee of a notice
summarizing such amendment and requesting the approval of the Holders (for the avoidance of doubt,
the failure by any Holder to respond within such time period shall not be deemed consent of any
such Holder to such amendment), by Act of said Holders delivered to the Company and the Trustee,
the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions of this Indenture or of modifying in any manner the
rights of the Holders of Securities under this Indenture; provided, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security,

(i) change the Stated Maturity of the principal or any premium of any Security or
change the date of payment of any installment of interest (including any Additional
Interest) on any Security, or reduce the principal amount thereof or the rate of interest
thereon or any premium payable upon the redemption thereof or change the place of payment
where, or the coin or currency in which, any Security or interest thereon is payable, or
restrict or impair the right to institute suit for the enforcement of any such payment on or
after such date, or

(ii) reduce the percentage in aggregate principal amount of the Outstanding Securities,
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 any provision of this
Indenture or of defaults hereunder and their consequences provided for in this Indenture, or

(iii) modify any of the provisions of this Section 9.2, Section 5.13 or
Section 10.7, except to increase any percentage in aggregate principal amount of the
Outstanding Securities, the consent of whose Holders is required for any reason, or to
provide that certain other provisions of this Indenture cannot be modified or waived without
the consent of the Holder of each Security.

(b) It shall not be necessary for any Act of Holders under this Section 9.2 to approve
the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act
shall approve the substance thereof.

Section 9.3. 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 shall be fully protected in conclusively
relying upon, an Officers’ 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 herein provided for relating to such action have been complied with. The Trustee may,
but shall not be obligated to, enter into any such supplemental indenture that affects the
Trustee’s own rights, duties, indemnities or immunities under this Indenture or otherwise. Copies
of the final form of each supplemental indenture shall be delivered by the Trustee at the expense
of the Company to each Holder, promptly after the execution thereof.

Section 9.4. 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 9.5. Reference in Securities to Supplemental Indentures.

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

ARTICLE X

COVENANTS

Section 10.1. Payment of Principal, Premium, if any, and Interest.

The Company covenants and agrees for the benefit of the Holders of the Securities that it will
duly and punctually pay the principal of and any premium and interest (including any Additional
Interest) on the Securities in accordance with the terms of the Securities and this Indenture.

Section 10.2. Money for Security Payments to be Held in Trust.

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

(b) Whenever the Company shall have one or more Paying Agents, it will, prior to 10:00 a.m.,
New York City time, on each due date of the principal of or any premium or interest (including any
Additional Interest) on any Securities, deposit with a Paying Agent a sum sufficient to pay such
amount, such sum to be held as provided in the Trust Indenture Act and (unless such Paying Agent is
the Trustee) the Company will promptly notify the Trustee of its failure so to act.

(c) The Company will cause each Paying Agent for the 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 10.2, that such Paying Agent will (i)
comply with the provisions of this Indenture and the Trust Indenture Act applicable to it as a
Paying Agent and (ii) during the continuance of any default by the Company (or any other obligor
upon the Securities) in the making of any payment in respect of the Securities, upon the written
request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent
for payment in respect of the Securities.

(d) 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.

(e) 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 and any premium or interest (including any Additional
Interest) on any Security and remaining unclaimed for two years after such principal and any
premium or interest has become due and payable shall (unless otherwise required by mandatory
provision of applicable escheat or abandoned or unclaimed property law) be paid on Company Request
to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory
provision of applicable escheat or abandoned or unclaimed property law) 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; provided, that the Trustee or such Paying Agent, before being required to make any such
repayment, may at the expense of the Company cause to be published once, in a newspaper published
in the English language, customarily published on each Business Day and of general circulation in
the Borough of Manhattan, The City of New York, notice that such money remains unclaimed and that,
after a date specified therein, which shall not be less than thirty (30) days from the date of such
publication, any unclaimed balance of such money then remaining will be repaid to the Company.

Section 10.3. Statement as to Compliance.

The Company shall deliver to the Trustee, within one hundred and twenty (120) days after the
end of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate
covering the preceding calendar year, stating whether or not to the knowledge of the signers
thereof the Company is in default in the performance or 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 10.4. Calculation Agent.

(a) The Company hereby agrees that for so long as any of the Securities remain Outstanding,
there will at all times be an agent appointed to calculate LIBOR in respect of each Interest
Payment Date in accordance with the terms of Schedule A (the “Calculation Agent”). The
Company has initially appointed the Trustee as Calculation Agent for purposes of determining LIBOR
for each Interest Payment Date. The Calculation Agent may be removed by the Company at any time.
If the Calculation Agent is unable or unwilling to act as such or is removed by the Company, the
Company will promptly appoint as a replacement Calculation Agent the London office of a leading
bank which is engaged in transactions in three-month U.S. dollar deposits in the international
market and which does not control or is not controlled by or under common control with the Company
or its Affiliates. The Calculation Agent may not resign its duties without a successor having been
duly appointed.

(b) The Calculation Agent shall be required to agree that, as soon as possible after 11:00
a.m. (London time) on each LIBOR Determination Date (as defined in Schedule A), but in no
event later than 11:00 a.m. (London time) on the Business Day immediately following each LIBOR
Determination Date, the Calculation Agent will calculate the interest rate (the interest payment
shall be rounded to the nearest cent, with half a cent being rounded upwards) for the related
Interest Payment Date, and will communicate such rate and amount to the Company, the Trustee, each
Paying Agent and the Depositary. The Calculation Agent will also specify to the Company the
quotations upon which the foregoing rates and amounts are based and, in any event, the Calculation
Agent shall notify the Company before 5:00 p.m. (London time) on each LIBOR Determination Date that
either: (i) it has determined or is in the process of determining the foregoing rates and amounts
or (ii) it has not determined and is not in the process of determining the foregoing rates and
amounts, together with its reasons therefor. The Calculation Agent’s determination of the
foregoing rates and amounts for any Interest Payment Date will (in the absence of manifest error)
be final and binding upon all parties. For the sole purpose of calculating the interest rate for
the Securities, “Business Day” shall be defined as any day on which dealings in deposits in Dollars
are transacted in the London interbank market.

	 	 	 
	Section 10.5.

Section 10.6.

	 	Reserved.

Additional Covenants.

The Company covenants and agrees with each Holder of Securities that if an Event of Default
shall have occurred and be continuing, it shall not (i) declare or pay any dividends or
distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any
of the Company’s Equity Interests, (ii) vote in favor of or permit or otherwise allow any of its
Subsidiaries (other than wholly-owned subsidiaries) to declare or pay any dividends or
distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to or
otherwise retire, any shares of any such Subsidiary’s preferred stock or other Equity Interests
entitling the holders thereof to a stated rate of return (for the avoidance of doubt, whether such
preferred stock or other Equity Interests are perpetual or otherwise), (iii) make any payment of
principal of or any interest or premium, if any, on or repay, repurchase or redeem any debt
securities of the Company that rank pari passu in all respects with or junior in interest to the
Securities (other than (A) repurchases, redemptions or other acquisitions of Equity Interests of
the Company in connection with any employment contract, benefit plan or other similar arrangement
with or for the benefit of any one or more employees, officers, directors or consultants, in
connection with a dividend reinvestment or stockholder stock purchase or similar plan with respect
to any Equity Interests or in connection with the issuance of Equity Interests of the Company (or
securities convertible into or exercisable for such Equity Interests) as consideration in an
acquisition transaction entered into prior to the Event of Default, (B) as a result of an exchange,
conversion, reclassification or combination of any class or series of the Company’s Equity
Interests (or any Equity Interests of a Subsidiary of the Company) for any class or series of the
Company’s Equity Interests or of any class or series of the Company’s indebtedness for any class or
series of the Company’s Equity Interests, (C) the purchase of fractional interests in Equity
Interests of the Company pursuant to the conversion or exchange provisions of such Equity Interests
or the security being converted or exchanged, (D) any declaration of a dividend in connection with
any Rights Plan, the issuance of rights, Equity Interests or other property under any Rights Plan
or the redemption or repurchase of rights pursuant thereto or (E) any dividend in the form of
Equity Interests, warrants, options or other rights where the dividend Equity Interests or the
Equity Interests issuable upon exercise of such warrants, options or other rights is the same
Equity Interests as that on which the dividend is being paid or ranks pari passu with or junior to
such Equity Interests).

Section 10.7. Waiver of Covenants.

The Company may omit in any particular instance to comply with any covenant or condition
contained in Section 10.6, 10.9, 10.10 or 10.11 if, before or after
the time for such compliance, the Holders of at least a majority in aggregate principal amount of
the Outstanding Securities which have responded within ten (10) Business Days after delivery to the
Holders by the Company or the Trustee of a notice requesting the waiver of such covenant by the
Holders (for the avoidance of doubt, the failure by any Holder to respond within such time period
shall not be deemed consent of any such Holder to such waiver) shall, by Act of such Holders,
either waive such compliance in such instance or generally waive compliance with such covenant or
condition, but no such waiver shall extend to or affect such covenant or condition except to the
extent so expressly waived, and, until such waiver shall become effective, the obligations of the
Company in respect of any such covenant or condition shall remain in full force and effect.

Section 10.8. Treatment of Securities.

The Company will treat the Securities as indebtedness, and the amounts, other than payments of
principal, payable in respect of the principal amount of such Securities as interest, for all U.S.
federal income tax purposes. All payments in respect of the Securities will be made free and clear
of U.S. withholding tax to any beneficial owner thereof that has provided a properly completed and
executed Internal Revenue Service Form W-9 or W-8BEN (or any substitute or successor form) claiming
a complete exemption from U.S. withholding tax, or any other applicable form establishing a
complete exemption from U.S. withholding tax.

Except as provided for in Section 3.1(g), to the extent that the Company is required
to withhold and pay over any amounts to any jurisdiction with respect to payments of principal of
or interest on the Securities, the amount withheld shall be deemed to be a payment to the Holder
of, or owner of a beneficial interest in, such Securities.

Section 10.9. Asset Management and Management Company Covenants.

(a) The Company or its Subsidiaries shall be solely responsible for all asset management
activities of the Company and its Subsidiaries, unless otherwise required by law or regulation;
provided that the Company or its Subsidiaries may enter into joint venture and similar
arrangements with third parties in connection with the asset management activities if such
activities are undertaken on an arm’s-length basis and any fees or other benefits received by the
Company or its Subsidiaries shall be subject to all of the limitations set forth in Sections
10.6 and 10.11(b).

(b) The Company may, and may permit any its Subsidiaries to, directly or indirectly (a) sell,
transfer, pledge or issue, in one or more transactions, any direct or indirect beneficial ownership
interests in the Management Company which results in (i) any Person, whether directly or
indirectly, other than the Company (and/or any Subsidiaries wholly owned, directly or indirectly,
by the Company) owning any equity interests in the Management Company or any rights to
distributions from the Management Company or (ii) any Person other than the Company (and/or any
Subsidiary wholly owned, directly or indirectly, by the Company) having responsibility for the
management of the Management Company and the administration of the day-to-day business and affairs
of the Management Company or (b) sell, transfer, pledge or assign any material asset of the
Management Company; provided that all proceeds received by the Company or its Subsidiaries
shall be subject to all of the limitations set forth in Sections 10.6 and 10.11(b).

(c) The Company may permit the Management Company to incur Debt and Indebtedness;
provided that all proceeds received by the Company or its Subsidiaries shall be subject to
all of the limitations set forth in Sections 10.6 and 10.11(b).

Section 10.10. Seller Notes.

The Company shall not, and shall cause the Management Company not to, enter into or permit any
Affiliate of any of them to enter into any amendment of the Seller Notes without the prior written
consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding
Securities; provided, that the Company, the Management Company and/or any Affiliate of any
of them may amend any of the Seller Notes without obtaining such consent if (i) such amendment does
not increase the interest rate or shorten the maturity of such Seller Notes and (ii) the terms of
such amendment, taken as a whole, do not result in a material adverse change to the Management
Company, the Company or their respective businesses or the holders of the Securities.
Notwithstanding the foregoing, the Company may permit the issuer of the Seller Notes to make
payments in kind, in lieu of interest.

Section 10.11. Further Additional Covenants

The Company agrees as follows:

(a) that it may incur, and any of its Subsidiaries may incur, any Indebtedness;
provided that all proceeds received by the Company or its Subsidiaries shall be subject to
all of the limitations set forth in Sections 10.6 and 10.11(b); and

(b) not to make, or permit any of its Subsidiaries to directly or indirectly make any
Restricted Payments, provided that: (i) the Company and its Subsidiaries may distribute
dividends of Capital Stock (other than Disqualified Capital Stock) in respect of its Capital Stock;
(ii) the Company and its Subsidiaries may make Restricted Payments to the Company and any of its
direct and indirect wholly-owned Subsidiaries; (iii) the Company and its Subsidiaries may make
Restricted Payments with respect to any Designated Preferred Stock; (iv) the Company and its
Subsidiaries may purchase the Company’s or any of its Subsidiary’s common stock or options to
purchase common stock from current officers, directors or employees of the Company or any of its
Subsidiaries upon the death, disability or termination of employment of such officer, director or
employee (at current market value prices to the extent available); (v) the Company may repurchase
shares of its common stock; provided that the aggregate amount used for the purposes
permitted under this clause (v) shall not exceed $1,000,000; (vi) the Company and its Subsidiaries
may make Restricted Payments to the Company and its Subsidiaries to be used by such Person (A) to
the extent necessary to pay the Permitted Management Fees and (B) to the extent necessary for the
Company and its Subsidiaries to pay any taxes which are due an payable by the Company and its
Subsidiaries; provided that in the case of this subclause (B), such amount shall not exceed
the lesser of (x) the amount of such taxes that are due and payable and (y) the amount of taxes
that would be due and payable by each Subsidiary making such Restricted Payment if such Subsidiary
were the parent of a consolidated group consisting of itself and its Subsidiaries; (vii) the
Company may make Restricted Payments to any of its Subsidiaries to be used by such Person to the
extent necessary to pay any management or similar fee to any Affiliate; provided that (A)
no Event of Default has occurred and is continuing or would occur as a result thereof and (B) such
management or similar fee shall be on fair and reasonable terms that, taken as a whole, are not
less favorable to the relevant Subsidiary of the Company, as applicable, as could be obtainable by
such Person at the time in a comparable arm’s-length transaction with a Person other than an
Affiliate of the Company; (viii) if a Credit Enhancing Transaction has closed within one hundred
eighty (180) days from the date of this Indenture, the Company may at any time make Restricted
Payments up to (w) $10,000,000, plus, after the date hereof, (x) 50% of Net Income earned
after the date hereof, plus, after the date hereof, (y) 100% of any equity contributions in
the Company made after the date hereof (whether in cash or otherwise) less (z) an amount equal to
the aggregate amount of any and all Restricted Payments made pursuant to this clause (viii);
provided that (A) no Event of Default has occurred and is continuing or would occur as a
result thereof, and (B) any such Restricted Payment shall not render the Company insolvent; and
(ix) if no Event of Default has occurred and is continuing or would occur as a result thereof, the
Company has a Company Leverage Ratio less than 2.50:1.00 for the previous 12 months and the
Consolidated Net Worth is not less than $50,000,000 for the previous 12 months (provided
that if the Company or any of its Subsidiaries completes any acquisition, strategic transaction or
consolidation, then the Consolidated Net Worth for any previous 12-month period shall be calculated
on a pro forma basis to reflect the combined entity after such acquisition, strategic transaction
or consolidation), the Company or any Subsidiary may make Restricted Payments up to an amount equal
to 30% of the Consolidated Net Income of the Company for the previous 12 months provided
that any such Restricted Payment shall not cause the Consolidated Net Worth of the Company to fall
below $50,000,000. Notwithstanding the foregoing, this Section 10.11(b) shall not apply to
any Deerfield Special Purpose Entity to the extent and so long as compliance by such entity with,
or such entity’s agreement to be subject to, the restrictions set forth in this Section
10.11(b) contravenes or Conflicts with such entity’s Organizational Documents or any
Contractual Obligation, in existence as the date hereof, or entered into after the date hereof in
the ordinary course of business, or Requirement of Law applicable to such entity or any of its
Properties.

(c) The Restricted Payment covenants set forth in Section 10.11(b) above shall be
eliminated and of no further force or effect if the aggregate outstanding principal amount of the
Securities is less than $75,000,000; provided that, any payments that would otherwise
constitute Restricted Payments subsequent to such elimination hereunder do not render the Company
insolvent.

Section 10.12. Inspections

Taberna Capital Management LLC shall have the right, upon not less than three (3) Business
Days prior written notice to the Company to have representatives and agents of Taberna Capital
Management LLC to visit and inspect, at such reasonable time during normal business hours as stated
in such notice, any of the Company’s and the Management Company’s properties, to examine their
respective corporate, financial and operating records, and make abstracts therefrom, and to discuss
their affairs, finances and accounts with their respective directors and officers, all (unless an
Event of Default has occurred and is then continuing or during the Modification Period) at the
expense of Taberna Capital Management LLC (which expense shall not be reimbursable by any of the
Company, the Management Company or any of their respective Subsidiaries); provided that
Taberna Capital Management LLC may not exercise their rights under this Section 10.12 more
than once in any fiscal quarter of the Company, unless an Event of Default is continuing, in which
case Taberna Capital Management LLC may do any of the foregoing at the expense of the Company or
the Management Company at any reasonable time during normal business hours and as often as may
reasonably be desired.

Section 10.13. Maintenance of Corporate Tax Status.

The Company represents and warrants that it is taxable as a corporation for United States
federal income tax purposes, and covenants that it shall take no action, nor permit any action to
be taken, that would cause the Company or any successor to cease to be taxable as a corporation for
United States federal income tax purposes.

ARTICLE XI

REDEMPTION OF SECURITIES

Section 11.1. Optional Redemption.

The Company may, at its option, on any date, on or after October 30, 2010, redeem the
Securities in whole at any time or in part from time to time, at a redemption price equal to one
hundred percent (100%) of the principal amount thereof (or of the redeemed portion thereof, as
applicable), together, in the case of any such redemption, with accrued and unpaid interest,
including any Additional Interest, to but excluding the date fixed as the Redemption Date (the
“Optional Redemption Price”). In the event that a Holder does not consent to a proposed amendment
under Section 9.2(a) or a requested waiver under Section 10.7, the Company at its
option may redeem in part or in whole the Securities of each Holder at the Optional Redemption
Price. Notwithstanding anything to the contrary herein, the Company, may, at its option, on any
date on or after October 30, 2010, redeem the Securities in whole at any time or in part from time
to time by delivering to the Holders certain replacement securities acceptable to the Holders in
their sole discretion in par amounts greater than or equal to the Securities being redeemed,
exclusive of any accrued interest on the Securities being redeemed (the “In-Kind Redemption
Price”). Notwithstanding anything to the contrary herein, the Company shall not be required to pay
accrued interest on the Securities being redeemed in connection with the Company’s payment of the
In-Kind Redemption Price. The Holders of not less than a majority in aggregate principal amount of
the Outstanding Securities may agree to waive or alter the notice requirements set forth in
Section 11.5 hereof with respect to any redemption described in the two preceding
sentences.

Section 11.2. Special Event Redemption.

Prior to October 30, 2010, upon the occurrence and during the continuation of a Special Event,
the Company may, at its option, redeem the Securities, in whole but not in part, at a redemption
price equal to one hundred seven and one half percent (107.5%) of the principal amount thereof,
together, in the case of any such redemption, with accrued interest, including any Additional
Interest, to but excluding the date fixed as the Redemption Date (the “Special Redemption Price”);
provided, however, that the Security may be redeemed in connection with a Special Event as set
forth above on or after October 30, 2010, at a redemption price equal to 100% of the principal
amount hereof, together, in the case of any such redemption, with accrued interest, to but
excluding the date fixed as the Redemption Date

Section 11.3. Election to Redeem; Notice to Trustee.

The election of the Company to redeem any Securities, in whole or in part, shall be evidenced
by or pursuant to a Board Resolution. In case of any redemption at the election of the Company, the
Company shall, not less than forty-five (45) days and not more than seventy-five (75) days prior to
the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee in writing of such date and of the principal amount of the Securities to be redeemed and
provide the additional information required to be included in the notice or notices contemplated by
Section 11.5. In the case of any redemption of Securities, in whole or in part, (a) prior
to the expiration of any restriction on such redemption provided in this Indenture or the
Securities or (b) pursuant to an election of the Company which is subject to a condition specified
in this Indenture or the Securities, the Company shall furnish the Trustee with an Officers’
Certificate and an Opinion of Counsel evidencing compliance with such restriction or condition.

Section 11.4. Selection of Securities to be Redeemed.

(a) If less than all the Securities are to be redeemed, the particular Securities to be
redeemed shall be selected and redeemed on a pro rata basis not more than sixty (60) days prior to
the Redemption Date by the Trustee from the Outstanding Securities not previously called for
redemption, 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.

(b) The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption and, in the case of any Securities selected for partial redemption, the principal amount
thereof to be redeemed. 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 Security
redeemed or to be redeemed only in part, to the portion of the principal amount of such Security
that has been or is to be redeemed.

(c) The provisions of paragraphs (a) and (b) of this Section 11.4 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.

Section 11.5. Notice of Redemption.

(a) Notice of redemption shall be given not later than the thirtieth (30th) day,
and not earlier than the sixtieth (60th) day, prior to the Redemption Date to each
Holder of Securities to be redeemed, in whole or in part (unless a shorter notice shall be
satisfactory to the Trustee).

(b) With respect to Securities to be redeemed, in whole or in part, each notice of redemption
shall state:

(i) the Redemption Date;

(ii) the Redemption Price or, if the Redemption Price cannot be calculated prior to the
time the notice is required to be sent, the estimate of the Redemption Price, as calculated
by the Company, together with a statement that it is an estimate and that the actual
Redemption Price will be calculated on the fifth (5th) Business Day prior to the
Redemption Date (and if an estimate is provided, a further notice shall be sent of the
actual Redemption Price on the date that such Redemption Price is calculated);

(iii) if less than all Outstanding Securities are to be redeemed, the identification
(and, in the case of partial redemption, the respective principal amounts) of the amount of
and particular Securities to be redeemed;

(iv) that on the Redemption Date, the Redemption Price will become due and payable upon
each such Security or portion thereof, and that any interest (including any Additional
Interest) on such Security or such portion, as the case may be, shall cease to accrue on and
after said date; and

(v) the place or places where such Securities are to be surrendered for payment of the
Redemption Price..

(c) Notice of redemption of Securities to be redeemed, in whole or in part, at the election of
the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name
and at the expense of the Company and shall be irrevocable. The notice if mailed in the manner
provided above shall be conclusively presumed to have been duly given, whether or not the Holder
receives such notice. In any case, a failure to give such notice by mail 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 Security.

Section 11.6. Deposit of Redemption Price.

Prior to 10:00 a.m., New York City time, on the Redemption Date specified in the notice of
redemption given as provided in Section 11.5, the Company will deposit with the Trustee or
with one or more Paying Agents (or if the Company is acting as its own Paying Agent, the Company
will segregate and hold in trust as provided in Section 10.2) an amount of money sufficient
to pay the Redemption Price of, and any accrued interest (including any Additional Interest) on,
all the Securities (or portions thereof) that are to be redeemed on that date.

Section 11.7. Payment of Securities Called for Redemption.

(a) If any notice of redemption has been given as provided in Section 11.5, the
Securities or portion of Securities with respect to which such notice has been given shall become
due and payable on the date and at the place or places stated in such notice at the applicable
Redemption Price. On presentation and surrender of such Securities at a Place of Payment specified
in such notice, the Securities or the specified portions thereof shall be paid and redeemed by the
Company at the applicable Redemption Price.

(b) Upon presentation of any Security redeemed in part only, the Company shall execute and the
Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new
Security or Securities, of authorized denominations, in aggregate principal amount equal to the
unredeemed portion of the Security so presented and having the same Original Issue Date, Stated
Maturity and terms.

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

ARTICLE XII

SUBORDINATION OF SECURITIES

Section 12.1. Securities Subordinate to Senior Debt.

The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof,
likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this
Article XII, the payment of the principal of and any premium and interest (including any
Additional Interest) on each and all of the Securities is hereby expressly made subordinate and
subject in right of payment to the prior payment in full of all Senior Debt. Notwithstanding
anything to the contrary contained herein, (i) the Non-Participating Trust I Securities, (ii) the
junior subordinated notes held by Trust I (as defined in the Exchange Agreement), Trust II (as
defined in the Exchange Agreement) and Trust III (as defined in the Exchange Agreement)
(collectively, the “Original Subordinated Notes”), and (iii) the Company’s guarantee of the
foregoing, shall not be Senior Debt or otherwise entitled to the subordination provisions of this
Article XII and the Securities shall be superior in right of payment to, and shall be
deemed “Senior Debt” with respect to, the Non-Participating Trust I Securities and the Original
Subordinated Notes, and shall also be deemed to be “Senior Debt” for purposes of the Original
Indentures (as defined in the Exchange Agreement) and the Trust Agreements (as defined in the
Exchange Agreement). For the avoidance of doubt, (i) the only default under the Trust I Indenture
that shall constitute an Event of Default under this Indenture shall be an Event of Default (as
defined in the Trust I Indenture) under Section 5.1(a) of the Trust I Indenture, and (ii)
notwithstanding anything to the contrary herein, the Company may, at its option, on any date,
redeem the outstanding junior subordinated notes held by Trust I for the Optional Redemption Price
(as defined in the Trust I Indenture) in accordance with the terms of the Trust I Indenture.

Section 12.2. No Payment When Senior Debt in Default; Payment Over of Proceeds Upon
Dissolution, Etc.

(a) In the event and during the continuation of any default by the Company in the payment of
any principal of or any premium or interest on any Senior Debt (following any grace period, if
applicable) when the same becomes due and payable, whether at maturity or at a date fixed for
prepayment or by declaration of acceleration or otherwise, then, upon written notice of such
default to the Company by the holders of such Senior Debt or any trustee therefor, unless and until
such default shall have been cured or waived or shall have ceased to exist, no direct or indirect
payment (in cash, property, securities, by set-off or otherwise) shall be made or agreed to be made
on account of the principal of or any premium or interest (including any Additional Interest) on
any of the Securities, or in respect of any redemption, repayment, retirement, purchase or other
acquisition of any of the Securities.

(b) In the event of a bankruptcy, insolvency or other proceeding described in clause (d) or
(e) of the definition of Event of Default (each such event, if any, herein sometimes referred to as
a “Proceeding”), all Senior Debt (including any interest thereon accruing after the commencement of
any such proceedings) shall first be paid in full before any payment or distribution, whether in
cash, securities or other property, shall be made to any Holder of any of the Securities on account
thereof. Any payment or distribution, whether in cash, securities or other property (other than
securities of the Company or any other entity provided for by a plan of reorganization or
readjustment the payment of which is subordinate, at least to the extent provided in these
subordination provisions with respect to the indebtedness evidenced by the Securities, to the
payment of all Senior Debt at the time outstanding and to any securities issued in respect thereof
under any such plan of reorganization or readjustment), which would otherwise (but for these
subordination provisions) be payable or deliverable in respect of the Securities shall be paid or
delivered directly to the holders of Senior Debt in accordance with the priorities then existing
among such holders until all Senior Debt (including any interest thereon accruing after the
commencement of any Proceeding) shall have been paid in full.

(c) In the event of any Proceeding, after payment in full of all sums owing with respect to
Senior Debt, the Holders of the Securities, together with the holders of any obligations of the
Company ranking on a parity with the Securities, shall be entitled to be paid from the remaining
assets of the Company the amounts at the time due and owing on account of unpaid principal of and
any premium and interest (including any Additional Interest) on the Securities and such other
obligations before any payment or other distribution, whether in cash, property or otherwise, shall
be made on account of any Equity Interests or any obligations of the Company ranking junior to the
Securities and such other obligations. If, notwithstanding the foregoing, any payment or
distribution of any character on any security, whether in cash, securities or other property (other
than securities of the Company or any other entity provided for by a plan of reorganization or
readjustment the payment of which is subordinate, at least to the extent provided in these
subordination provisions with respect to the indebtedness evidenced by the Securities, to the
payment of all Senior Debt at the time outstanding and to any securities issued in respect thereof
under any such plan of reorganization or readjustment) shall be received by the Trustee or any
Holder in contravention of any of the terms hereof and before all Senior Debt shall have been paid
in full, such payment or distribution or security shall be received in trust for the benefit of,
and shall be paid over or delivered and transferred to, the holders of the Senior Debt at the time
outstanding in accordance with the priorities then existing among such holders for application to
the payment of all Senior Debt remaining unpaid, to the extent necessary to pay all such Senior
Debt (including any interest thereon accruing after the commencement of any Proceeding) in full.
In the event of the failure of the Trustee or any Holder to endorse or assign any such payment,
distribution or security, each holder of Senior Debt is hereby irrevocably authorized to endorse or
assign the same.

(d) The Trustee and the Holders, at the expense of the Company, shall take such reasonable
action (including the delivery of this Indenture to an agent for any holders of Senior Debt or
consent to the filing of a financing statement with respect hereto) as may, in the opinion of
counsel designated by the holders of a majority in principal amount of the Senior Debt at the time
outstanding, be necessary or appropriate to assure the effectiveness of the subordination effected
by these provisions.

(e) The provisions of this Section 12.2 shall not impair any rights, interests,
remedies or powers of any secured creditor of the Company in respect of any security interest the
creation of which is not prohibited by the provisions of this Indenture.

(f) The securing of any obligations of the Company, otherwise ranking on a parity with the
Securities or ranking junior to the Securities, shall not be deemed to prevent such obligations
from constituting, respectively, obligations ranking on a parity with the Securities or ranking
junior to the Securities.

Section 12.3. Payment Permitted If No Default.

Nothing contained in this Article XII or elsewhere in this Indenture or in any of the
Securities shall prevent (a) the Company, at any time, except during the pendency of the conditions
described in paragraph (a) of Section 12.2 or of any Proceeding referred to in
Section 12.2, from making payments at any time of principal of and any premium or interest
(including any Additional Interest) on the Securities or (b) the application by the Trustee of any
moneys deposited with it hereunder to the payment of or on account of the principal of and any
premium or interest (including any Additional Interest) on the Securities or the retention of such
payment by the Holders, if, at the time of such application by the Trustee, it did not have
knowledge (in accordance with Section 12.8) that such payment would have been prohibited by
the provisions of this Article XII, except as provided in Section 12.8.

Section 12.4. Subrogation to Rights of Holders of Senior Debt.

Subject to the payment in full of all amounts due or to become due on all Senior Debt, or the
provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the
holders of Senior Debt, the Holders of the Securities shall be subrogated to the extent of the
payments or distributions made to the holders of such Senior Debt pursuant to the provisions of
this Article XII (equally and ratably with the holders of all indebtedness of the Company
that by its express terms is subordinated to Senior Debt of the Company to substantially the same
extent as the Securities are subordinated to the Senior Debt and is entitled to like rights of
subrogation by reason of any payments or distributions made to holders of such Senior Debt) to the
rights of the holders of such Senior Debt to receive payments and distributions of cash, property
and securities applicable to the Senior Debt until the principal of and any premium and interest
(including any Additional Interest) on the Securities shall be paid in full. For purposes of such
subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property
or securities to which the Holders of the Securities or the Trustee would be entitled except for
the provisions of this Article XII, and no payments made pursuant to the provisions of this
Article XII to the holders of Senior Debt by Holders of the Securities or the Trustee,
shall, as among the Company, its creditors other than holders of Senior Debt, and the Holders of
the Securities, be deemed to be a payment or distribution by the Company to or on account of the
Senior Debt.

Section 12.5. Provisions Solely to Define Relative Rights.

The provisions of this Article XII 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
Senior Debt on the other hand. Nothing contained in this Article XII or elsewhere in this
Indenture or in the Securities is intended to or shall (a) impair, as between the Company and the
Holders of the Securities, the obligations of the Company, which are absolute and unconditional, to
pay to the Holders of the Securities the principal of and any premium and interest (including any
Additional Interest) on the Securities as and when the same shall become due and payable in
accordance with their terms, (b) affect the relative rights against the Company of the Holders of
the Securities and creditors of the Company other than their rights in relation to the holders of
Senior Debt or (c) prevent the Trustee or the Holder of any Security from exercising all remedies
otherwise permitted by applicable law upon default under this Indenture, including filing and
voting claims in any Proceeding, subject to the rights, if any, under this Article XII of
the holders of Senior Debt to receive cash, property and securities otherwise payable or
deliverable to the Trustee or such Holder.

Section 12.6. Trustee to Effectuate Subordination.

Each Holder of a Security by his, her or its acceptance thereof authorizes and directs the
Trustee on his, her or its behalf to take such action as may be necessary or appropriate to
acknowledge or effectuate the subordination provided in this Article XII and appoints the
Trustee his or her attorney-in-fact for any and all such purposes.

Section 12.7. No Waiver of Subordination Provisions.

(a) No right 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 that any such holder may have or be otherwise charged with.

(b) Without in any way limiting the generality of paragraph (a) of this Section 12.7,
the holders of Senior Debt may, at any time and from to time, without the consent of or notice to
the Trustee or the Holders of the Securities, without incurring responsibility to such Holders of
the Securities and without impairing or releasing the subordination provided in this Article
XII or the obligations hereunder of such 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 or
extend the time of payment of, or renew or alter, Senior Debt, or otherwise amend or supplement in
any manner Senior Debt or 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
payment of Senior Debt and (iv) exercise or refrain from exercising any rights against the Company
and any other Person.

Section 12.8. Notice to Trustee.

(a) The Company shall give prompt written notice to a Responsible Officer of the Trustee of
any fact known to the Company that would prohibit the making of any payment to or by the Trustee in
respect of the Securities. Notwithstanding the provisions of this Article XII or any other
provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of
any facts that would prohibit the making of any payment to or by the Trustee in respect of the
Securities, unless and until a Responsible Officer of the Trustee shall have received written
notice thereof from the Company or a holder of Senior Debt or from any trustee, agent or
representative therefor; provided that if the Trustee shall not have received the notice
provided for in this Section 12.8 at least two (2) Business Days prior to the date upon
which by the terms hereof any monies may become payable for any purpose (including, the payment of
the principal of and any premium on or interest (including any Additional Interest) on any
Security), then, anything herein contained to the contrary notwithstanding, the Trustee shall have
full power and authority to receive such monies and to apply the same to the purpose for which they
were received and shall not be affected by any notice to the contrary that may be received by it
within two (2) Business Days prior to such date.

(b) The Trustee shall be entitled to rely on the delivery to it of a written notice by a
Person representing himself, herself or itself to be a holder of Senior Debt (or a trustee, agent,
representative or attorney-in-fact therefor) to establish that such notice has been given by a
holder of Senior Debt (or a trustee, agent, representative or attorney-in-fact therefor). 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 XII, 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 this Article XII, and if such
evidence is not furnished, the Trustee may defer any payment to such Person pending judicial
determination as to the right of such Person to receive such payment.

Section 12.9. Reliance on Judicial Order or Certificate of Liquidating Agent.

Upon any payment or distribution of assets of the Company referred to in this Article
XII, the Trustee and the Holders of the Securities shall be entitled to conclusively rely upon
any order or decree entered by any court of competent jurisdiction in which such Proceeding is
pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian,
assignee for the benefit of creditors, agent or other Person making such payment or distribution,
delivered to the Trustee or to the Holders of Securities, for the purpose of ascertaining the
Persons entitled to participate in such payment or 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 XII.

Section 12.10. Trustee Not Fiduciary for Holders of Senior Debt.

The Trustee, in its capacity as trustee under this Indenture, 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 good faith mistakenly pay over or distribute to Holders of Securities 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 XII or otherwise.

Section 12.11. Rights of Trustee as Holder of Senior Debt; Preservation of Trustee’s Rights.

The Trustee in its individual capacity shall be entitled to all the rights set forth in this
Article XII with respect to any Senior Debt that may at any time be held by it, to the same
extent as any other holder of Senior Debt, and nothing in this Indenture shall deprive the Trustee
of any of its rights as such holder.

Section 12.12. Article Applicable to Paying Agents.

If 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 XII shall
in such case (unless the context otherwise requires) 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 XII in addition to or in place of the Trustee; provided
that Sections 12.8 and 12.11 shall not apply to the Company or any Affiliate of the
Company if the Company or such Affiliate acts as Paying Agent.

Section 12.13. Article Applicable to Shareholders Act

With respect to Securities issued in the United States, the Shareholders Act requires the
Trustee to disclose to the issuers, upon their request, the name, address and securities position
of its customers who are (a) the “beneficial owners” (as defined in the Shareholders Act) of the
issuer’s Securities, if the beneficial owner does not object to such disclosure, or (b) acting as a
“respondent bank” (as defined in the Shareholders Act) with respect to the Securities. Under the
Shareholders Act, “respondent banks” do not have the option of objecting to such disclosure upon
the issuers’ request. The Shareholders Act defines a “beneficial owner” as any person who has, or
shares, the power to vote a security (pursuant to an agreement or otherwise), or who directs the
voting of a security. The Shareholders Act defines a “respondent bank” as any bank, association or
other entity that exercises fiduciary powers which holds securities on behalf of beneficial owners
and deposits such securities for safekeeping with a bank, such as the Trustee. Under the
Shareholders Act, each Holder is either the “beneficial owner” or a “respondent bank.”

For Purposes of this Indenture, until the Trustee receives a contrary written instruction from
a Holder, the Trustee shall assume that such Holder is the beneficial owner of the Securities.

For purposes of this Indenture, until the Trustee receives a contrary instruction from a
Holder, the Trustee shall release the name, address and securities position to any issuer which
requests such information pursuant to the Shareholders Act for the specific purpose of direct
communications between such issuer and such Holder. With respect to Securities issued outside of
the United States, information shall be released to issuers only if required by law or regulation
of the particular country in which the Securities are located.

* * * *

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

* * * *

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

DEERFIELD CAPITAL CORP., a Maryland

corporation

By: /s/ Robert A. Contreras

Name: Robert A. Contreras

Title: Secretary

[signatures continue on following page]

THE BANK OF NEW YORK MELLON

TRUST COMPANY, NATIONAL

ASSOCIATION,

as Trustee

By: /s/ Lila R. Garlin

Name: Lila R. Garlin

Title: Vice President

Schedule A

DETERMINATION OF LIBOR

With respect to the Securities, the London interbank offered rate (“LIBOR”) shall be
determined by the Calculation Agent in accordance with the following provisions (in each case
rounded to the nearest .000001%):

(1) Subsequent to expiration of the Fixed Rate Period, on the second LIBOR Business Day (as defined
below) prior to an Interest Payment Date (each such day, a “LIBOR Determination Date”), LIBOR for
any given security shall for the following interest payment period equal the rate, as obtained by
the Calculation Agent from Bloomberg Financial Markets Commodities News, for three-month Eurodollar
deposits that appears on Dow Jones Telerate Page 3750 (as defined in the International Swaps and
Derivatives Association, Inc. 1991 Interest Rate and Currency Exchange Definitions), or such other
page as may replace such Page 3750, as of 11:00 a.m. (London time) on such LIBOR Determination
Date.

(2) If, on any LIBOR Determination Date, such rate does not appear on Dow Jones Telerate Page 3750
or such other page as may replace such Page 3750, the Calculation Agent shall determine the
arithmetic mean of the offered quotations of the Reference Banks (as defined below) to leading
banks in the London interbank market for three-month Eurodollar deposits in an amount determined by
the Calculation Agent by reference to requests for quotations as of approximately 11:00 a.m.
(London time) on the LIBOR Determination Date made by the Calculation Agent to the Reference Banks.
If, on any LIBOR Determination Date, at least two of the Reference Banks provide such quotations,
LIBOR shall equal such arithmetic mean of such quotations. If, on any LIBOR Determination Date,
only one or none of the Reference Banks provide such quotations, LIBOR shall be deemed to be the
arithmetic mean of the offered quotations that leading banks in the City of New York selected by
the Calculation Agent are quoting on the relevant LIBOR Determination Date for three-month
Eurodollar deposits in an amount determined by the Calculation Agent by reference to the principal
London offices of leading banks in the London interbank market; provided that, if the
Calculation Agent is required but is unable to determine a rate in accordance with at least one of
the procedures provided above, LIBOR shall be LIBOR as determined on the previous LIBOR
Determination Date.

(3) As used herein: “Reference Banks” means four major banks in the London interbank market
selected by the Calculation Agent; and “LIBOR Business Day” means a day on which commercial banks
are open for business (including dealings in foreign exchange and foreign currency deposits) in
London.

Exhibit A

Form of Officer’s Financial Certificate

The undersigned, the Chief Financial Officer of Deerfield Capital Corp. (the “Company”) hereby
certifies, pursuant to Section 7.3(b) of the Junior Subordinated Indenture, dated as of March 4,
2010 (the “Indenture”), among the Company and The Bank of New York Mellon Trust Company, National
Association, as trustee, that, as of [date], [20      ], the Company and its consolidated subsidiaries
had the following ratios and balances:

As of [Quarterly/Annual Financial Date], 20      

	 	 	 
	Senior secured indebtedness for borrowed money (“Debt”)$     

	Senior unsecured Debt$     

Subordinated Debt$     

Total Debt$     

	 	

	Ratio of (x) senior secured and unsecured Debt to (y) total Debt     %

	•

	 	A table describing the quarterly report calculation procedures is provided on page      

hereof

[FOR FISCAL YEAR END: Attached hereto are the audited consolidated financial statements (including
the balance sheet, income statement and statement of cash flows, and notes thereto, together with
the report of the independent accountants thereon) of the Company and its consolidated subsidiaries
for the three years ended [date], 20      .]

[FOR FISCAL QUARTER END: Attached hereto are the unaudited consolidated and consolidating
financial statements (including the balance sheet and income statement) of the Company and its
consolidated subsidiaries for the fiscal quarter ended [date], 20      .]

The financial statements fairly present in all material respects, in accordance with U.S. generally
accepted accounting principles (“GAAP”), the financial position of the Company and its consolidated
subsidiaries, and the results of operations and changes in financial condition as of the date, and
for the [quarter] [annual] period ended [date], 20      , and such financial statements have been
prepared in accordance with GAAP consistently applied throughout the period involved (except as
otherwise noted therein).

1

IN WITNESS WHEREOF, the undersigned has executed this Officer’s Financial Certificate as of
this        day of       , 20      .

By:

Name:

Title:

Deerfield Capital Corp.

One O’Hare Center, 9th Floor

6250 N. River Road

Rosemont, IL 60018

(773) 380-1600

2EX-10.1

EXHIBIT 10.1

EXCHANGE AGREEMENT

among

DEERFIELD CAPITAL CORP.,

TABERNA PREFERRED FUNDING V, LTD.,

TABERNA PREFERRED FUNDING VII, LTD.,

TABERNA PREFERRED FUNDING VIII, LTD.,

and

TABERNA PREFERRED FUNDING IX, LTD.

Dated as of March 4, 2010

EXCHANGE AGREEMENT

THIS EXCHANGE AGREEMENT, dated as of March 4, 2010 (this “Agreement”), is entered into by and
among DEERFIELD CAPITAL CORP., a Maryland corporation (the “Company”), TABERNA PREFERRED FUNDING V,
LTD. (“Taberna V”), TABERNA PREFERRED FUNDING VII, LTD. (“Taberna VII”), TABERNA PREFERRED FUNDING
VIII, LTD. (“Taberna VIII”) and TABERNA PREFERRED FUNDING IX, LTD. (“Taberna IX”, and together with
Taberna V, Taberna VII and Taberna VIII, “Taberna”).

RECITAL:

A. Reference is made to (i) that certain Junior Subordinated Indenture, dated as of September
29, 2005 (as amended, restated and supplemented from time to time, the “Original Trust I
Indenture”), (ii) that certain Junior Subordinated Indenture, dated as of August 2, 2006 (as
amended, restated and supplemented from time to time, the “Original Trust II Indenture”), and (iii)
that certain Junior Subordinated Indenture dated as of October 27, 2006 (as amended, restated and
supplemented from time to time, the “Original Trust III Indenture” and together with the Original
Trust I Indenture and the Original Trust II Indenture, the “Original Indentures”), each by and
between the Deerfield Capital LLC, a Delaware limited liability company (formerly known as
Deerfield Triarc Capital LLC) (“Deerfield LLC”) and The Bank of New York Mellon Trust Company,
National Association, a national banking association (as successor to JPMorgan Chase Bank, National
Association and The Bank of New York Trust Company, National Association), as Trustee (“BNYM”) (in
each capacity, the “Original Indenture Trustee”).

B. Reference is made to (i) that certain Amended and Restated Trust Agreement, dated as of
September 29, 2005 (the “Trust I Trust Agreement”), (ii) that certain Amended and Restated Trust
Agreement, dated as of August 2, 2006 (the “Trust II Trust Agreement”), and (iii) that certain
Amended and Restated Trust Agreement, dated as of October 27, 2006 (the “Trust III Trust Agreement”
and together with the Trust I Trust Agreement and the Trust II Trust Agreement, the “Trust
Agreements”), each by and among Deerfield LLC, as depositor, BNYM, as property trustee (in each
capacity, the “Property Trustee”), BNY Mellon Trust of Delaware (successor in interest to Chase
Bank USA, National Association and The Bank of New York (Delaware)), as Delaware trustee, the
respective administrative trustees named therein and other parties thereto.

C. Taberna Preferred Funding III, Ltd. (“Taberna III”) is the holder of preferred securities
in the original principal amount of $25,000,000 issued by Deerfield Capital Trust I (formerly known
as Deerfield Triarc Capital Trust I) (“Trust I”) pursuant to the Trust I Trust Agreement (the
“Non-Participating Trust I Securities”).

D. Taberna V is the holder of preferred securities in the original aggregate principal amount
of $25,000,000 issued by Trust I pursuant to the Trust I Trust Agreement, a copy of which is
attached hereto as Exhibit A-1 (the “Participating Trust I Securities”).

E. Taberna VII is the holder of preferred securities in the original aggregate principal
amount of $25,000,000 issued by Deerfield Capital Trust II (formerly known as Deerfield Triarc
Capital Trust II) (“Trust II”) pursuant to the Trust II Trust Agreement, a copy of which is
attached hereto as Exhibit A-2 (the “Participating Trust II Securities”).

F. Taberna VIII and Taberna IX are the holders of preferred securities in the original
aggregate principal amount of $20,000,000 and $25,000,000, respectively, issued by Deerfield
Capital Trust III (formerly known as Deerfield Triarc Capital Trust III) (“Trust III”) pursuant to
the Trust III Trust Agreement, copies of which are attached hereto as Exhibits A-3(VIII) and
A-3(IX) respectively (collectively, the “Participating Trust III Securities” and together with
the Participating Trust I Securities and the Participating Trust II Securities, the “Participating
Securities”).

G. Simultaneously herewith, the Company and BNYM, as trustee (the “New Indenture Trustee”),
have entered into that certain Junior Subordinated Indenture (the “New Indenture”) pursuant to
which the Company proposes to issue junior subordinated notes, due October 30, 2035, in the
original aggregate principal amount of Ninety-Five Million Dollars ($95,000,000.00) as follows:

(i) $25,000,000 to Taberna V, a copy of which is attached hereto as Exhibit B-1 (the
“Taberna V Note”);

(ii) $25,000,000 to Taberna VII, a copy of which is attached hereto as Exhibit B-2
(the “Taberna VII Note”);

(iii) $20,000,000 to Taberna VIII, a copy of which is attached hereto as Exhibit B-3
(the “Taberna VIII Note”); and

(iv) $25,000,000 to Taberna IX, a copy of which is attached hereto as Exhibit B-4 (the
“Taberna IX Note”, and together with the Taberna V Note, the Taberna VII Note and the Taberna VIII
Note, the “New Securities”).

H. On the terms and subject to the conditions set forth in this Agreement, the Company and
Taberna have agreed to exchange the Participating Securities for the New Securities.

I. Taberna III will not participate in the Exchange (as defined herein) due to prohibitions
set forth in its collateralized debt obligation indenture and will continue to hold $25,000,000 in
aggregate original principal amount of Non-Participating Trust I Securities issued by Trust I.

NOW, THEREFORE, in consideration of the mutual agreements and subject to the terms and
conditions herein set forth, the parties hereto agree as follows:

1. Definitions. All capitalized terms used but not defined in this Agreement shall
have the respective meanings ascribed thereto in the New Indenture. The following terms shall have
the following meanings:

“Affiliate” has the meaning set forth in Section 4(d).

“Bankruptcy Code” means the Bankruptcy Reform Act of 1978, 11 U.S.C. §§101 et seq., as
amended.

“Benefit Plan” means an “employee benefit plan” (as defined in ERISA) that is subject to Title
I of ERISA, a “plan” as defined in Section 4975 of the Code or any entity whose assets include (for
purposes of U.S. Department of Labor Regulations Section 2510.3-101 or otherwise for purposes of
Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or
“plan.”

“BNYM” has the meaning set forth in the Recitals.

“CDO Trustee” has the meaning set forth in Section 2(b)(i).

“Closing Date” has the meaning set forth in Section 2(b).

“Closing Room” has the meaning set forth in Section 2(b).

“Code” means the Internal Revenue Code of 1986, as amended, and the rules and regulations
promulgated under it.

“Commission” has the meaning set forth in Section 4(r).

“Company” has the meaning set forth in the introductory paragraph hereof.

“Company Counsel” has the meaning set forth in Section 3(b).

“DTC” means The Depository Trust Company, a New York corporation, or any successor thereto.

“Equity Interests” means with respect to any Person (a) if such a Person is a partnership, the
partnership interests (general or limited) in a partnership, (b) if such Person is a limited
liability company, the membership interests in a limited liability company and (c) if such Person
is a corporation, the shares or stock interests (both common stock and preferred stock) in a
corporation.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the rules
and regulations promulgated under it.

“Exchange” has the meaning set forth in Section 2(b).

“Exchange Act” has the meaning set forth in Section 4(f).

“Financial Statements” has the meaning set forth in Section 4(s).

“GAAP” has the meaning set forth in Section 4(s).

“Governmental Entity” and Governmental Entities” have the meanings set forth in Section
4(k).

“Governmental Licenses” has the meaning set forth in Section 4(n).

“Holder” has the meaning set forth in the New Indenture.

“Impairment” means any claim, counterclaim, setoff, defense, action, demand, litigation
(including administrative proceedings or derivative actions), encumbrance, right (including
expungement, avoidance, reduction, contractual or equitable subordination, or otherwise) or defect.

“Indemnified Parties” has the meaning set forth in Section 8(a). “Indemnified Party”
has the correlative meaning.

“Interim Financial Statements” has the meaning set forth in Section 4(s).

“Investment Company Act” has the meaning set forth in Section 4(f).

“Investment Company Act Counsel” has the meaning set forth in Section 3(b).

“Lien” has the meaning set forth in Section 4(k).

“Maryland Counsel” has the meaning set forth in Section 3(b).

“Material Adverse Effect” means a material adverse effect on the condition (financial or
otherwise), earnings, business, liabilities or assets of the Company and its Significant
Subsidiaries taken as a whole.

“Material Adverse Change” has the meaning set forth in Section 3(f).

“New Indenture” has the meaning set forth in the Recitals.

“New Indenture Trustee” has the meaning set forth in the Recitals.

“New Securities” has the meaning set forth in the Recitals.

“Non-Participating Trust I Securities” has the meaning set forth in the Recitals.

“Operative Documents” means, collectively, this Agreement, the New Indenture and the New
Securities.

“Original Indentures” has the meaning set forth in the Recitals.

“Original Indenture Trustee” has the meaning set forth in the Recitals.

“Original Trust I Indenture” has the meaning set forth in the Recitals.

“Original Trust II Indenture” has the meaning set forth in the Recitals.

“Original Trust III Indenture” has the meaning set forth in the Recitals.

“Participating Securities” has the meaning set forth in the Recitals.

“Participating Trust I Securities” has the meaning set forth in the Recitals.

“Participating Trust II Securities” has the meaning set forth in the Recitals.

“Participating Trust III Securities” has the meaning set forth in the Recitals.

“Property Trustee” has the meaning set forth in the Recitals.

“Regulation D” has the meaning set forth in Section 4(d).

“Repayment Event” has the meaning set forth in Section 4(k).

“Rule 144A(d)(3)” has the meaning set forth in Section 4(f).

“Securities Act” means the Securities Act of 1933, 15 U.S.C. §§77a et seq., as
amended, and the rules and regulations promulgated under it.

“Significant Subsidiary” has the meaning as set forth in Securities and Exchange Commission
Regulation S-X.

“Significant Subsidiaries” means, collectively, each and every Significant Subsidiary.

“Taberna” has the meaning set forth in the introductory paragraph hereof.

“Taberna III” has the meaning set forth in the Recitals.

“Taberna V” has the meaning set forth in the introductory paragraph hereof.

“Taberna VII” has the meaning set forth in the introductory paragraph hereof.

“Taberna VIII” has the meaning set forth in the introductory paragraph hereof.

“Taberna IX” has the meaning set forth in the introductory paragraph hereof.

“Taberna V Note” has the meaning set forth in the Recitals.

“Taberna VII Note” has the meaning set forth in the Recitals.

“Taberna VIII Note” has the meaning set forth in the Recitals.

“Taberna IX Note” has the meaning set forth in the Recitals.

“Taberna Transferred Rights” means any and all of Taberna’s right, title, and interest in, to
and under the Participating Securities, including, without limitation, the following:

(i) the Original Indentures and Trust Agreements;

(ii) all amounts payable to Taberna under the Participating Securities, the Original
Indentures and/or the Trust Agreements, excluding, however, amounts payable on account of
all outstanding accrued interest under the Participating Securities through and including
the Closing Date;

(iii) all claims (including “claims” as defined in Section §101(5) of the Bankruptcy
Code), suits, causes of action, and any other right of Taberna, whether known or unknown,
against the Company or any of its Affiliates (including the Trusts), agents,
representatives, contractors, advisors, or any other entity that in any way is based upon,
arises out of or is related to any of the foregoing, including all claims (including
contract claims, tort claims, malpractice claims, and claims under any law governing the
exchange of, purchase and sale of, or indentures for, securities), suits, causes of action,
and any other right of Taberna against any attorney, accountant, financial advisor, or other
entity arising under or in connection with the Participating Securities, the Original
Indentures, the Trust Agreements, the Purchase Agreements (as defined in the Trust
Agreements) or the transactions related thereto or contemplated thereby;

(iv) all guarantees and all collateral and security of any kind for or in respect of
the foregoing;

(v) all cash, securities, or other property, and all setoffs and recoupments, to be
received, applied, or effected by or for the account of Taberna under the Participating
Securities, the Original Indentures and the Trust Agreements, other than fees, costs and
expenses payable to Taberna hereunder and all cash, securities, interest, dividends, and
other property that may be exchanged for, or distributed or collected with respect to, any
of the foregoing; and

(vi) all proceeds of the foregoing.

“Tax” and “Taxes” have the meanings set forth in Section 4(y).

“Tax Returns” has the meaning set forth in Section 4(y).

“Trust I” has the meaning set forth in the Recitals.

“Trust II” has the meaning set forth in the Recitals.

“Trust III” has the meaning set forth in the Recitals.

“Trust I Trust Agreement” has the meaning set forth in the Recitals.

“Trust II Trust Agreement” has the meaning set forth in the Recitals.

“Trust III Trust Agreement” has the meaning set forth in the Recitals.

“Trust Agreements” has the meaning set forth in the Recitals.

“Trusts” has the meaning set forth in the Recitals.

2. Exchange of Participating Securities for the New Securities.

(a) The Company agrees to issue the New Securities in accordance with the New Indenture and
has requested that Taberna accept such New Securities in exchange for the Participating Securities,
and Taberna hereby accepts such New Securities in exchange for the Participating Securities upon
the terms and conditions set forth herein.

(b) The closing of the exchange contemplated herein shall occur at the offices of Dechert LLP
in New York, New York (the “Closing Room”), or such other place as the parties hereto shall agree,
at 11:00 a.m. New York time, on March 4, 2010 or such later date as the parties may agree (such
date and time of delivery, the “Closing Date”). The Company and Taberna hereby agree that the
exchange (the “Exchange”) will occur in accordance with the following requirements:

(i) Taberna Capital Management, LLC (as collateral manager for each of the Taberna
entities) shall have delivered an issuer order instructing each trustee (in each such
capacity, a “CDO Trustee”) under the applicable indenture pursuant to which such CDO Trustee
serves as trustee for the holders of the Participating Securities to exchange the
Participating Securities for the New Securities.

(ii) The Participating Securities and the New Securities shall have been delivered to
the Closing Room, copies of which shall have previously been made available for inspection,
if so requested.

(iii) The Company shall have directed the New Indenture Trustee to authenticate the New
Securities and deliver them to the applicable CDO Trustee, as follows: (i) Taberna V Note to
Taberna V, (ii) Taberna VII Note to Taberna VII, (iii) Taberna VIII Note to Taberna VIII,
and (iv) Taberna IX Note to Taberna IX.

(iv) The New Indenture Trustee shall have authenticated the New Securities in
accordance with the terms of the New Indenture and delivered them as provided above.

(v) The Company and Taberna shall provide directions to each CDO Trustee and Property
Trustee to cancel through DTC any global Participating Securities and to cancel any physical
Participating Securities delivered to the Property Trustee.

(vi) The Company shall deliver to the Property Trustee the common securities issued
under the applicable Trust Agreements and shall direct the Property Trustee to cancel them.

(vii) Simultaneously with the occurrence of the events described in subsections (iv)
and (v) hereof, (A) each Taberna entity, as the holder of the applicable Participating
Securities, irrevocably transfers, assigns, grants and conveys its related Taberna
Transferred Rights to the Company and the Company assumes all rights and obligations of each
such Taberna entity with respect to the Participating Securities and the Taberna Transferred
Rights and (B) each Holder shall be entitled to all of the rights, title and interest of a
Holder under the terms of the New Securities, the New Indenture and any other Operative
Documents.

(viii) The Company shall have paid to BNYM all of such party’s reasonable legal fees,
costs and other expenses in connection with the Exchange, as well as all other accrued and
unpaid fees, costs and expenses under the Original Indentures and the Trust Agreements, if
any.

(ix) The Company shall have paid to the Existing Indenture Trustee, for application
upon the Participating Securities and for distribution to Taberna as holder of the
Participating Securities pursuant to the terms of the Original Indentures, all outstanding
accrued interest under the Participating Securities through and including the Closing Date.

3. Conditions Precedent. The obligations of the parties under this Agreement are
subject to the following conditions precedent:

(a) The representations and warranties contained herein shall be accurate as of the date of
delivery of the New Securities.

(b) Weil, Gotshal & Manges LLP, counsel for the Company (the “Company Counsel”), shall have
delivered an opinion, dated as of the Closing Date, addressed to each Holder and to the New
Indenture Trustee, in substantially the form set forth in Exhibit E-1 hereto, Hogan &
Hartson LLP, Maryland counsel for the Company (“Maryland Counsel”), shall have delivered an
opinion, dated as of the Closing Date, addressed to each Holder and to the New Indenture Trustee,
in substantially the form set forth in Exhibit E-2 hereto, and Hunton & Williams LLP,
counsel for the Company (“Investment Company Act Counsel”), shall have delivered an opinion, dated
as of the Closing Date, addressed to each Holder and to the New Indenture Trustee, in substantially
the form set forth in Exhibit E-3 hereto. In rendering its opinion, the Company Counsel,
Maryland Counsel and Investment Company Act Counsel may rely as to factual matters upon
certificates or other documents furnished by officers, directors and trustees of the Company and by
government officials; provided, however, that copies of any such certificates or
documents are delivered to the Holders and the New Indenture Trustee, and upon such other documents
as such counsel may, in their reasonable opinion, deem appropriate as a basis for the Company
Counsel’s, Maryland Counsel’s and Investment Company Act Counsel’s respective opinions. The
Company Counsel, Maryland Counsel and Investment Company Act Counsel may specify the jurisdictions
in which they are admitted to practice and that they are not admitted to practice in any other
jurisdiction and are not experts in the law of any other jurisdiction.

(c) The Holders shall have received the opinion of Company Counsel, dated as of the Closing
Date, addressed to each Holder and to the New Indenture Trustee, in substantially the form set
forth in Exhibit E-4 hereto.

(d) The Holders shall have received the opinion of Gardere Wynne Sewell LLP, special counsel
for the New Indenture Trustee, dated as of the Closing Date, addressed to the Holders and their
successors and assigns, in substantially the form set forth in Exhibit E-5 hereto.

(e) The Company shall have furnished to the Holders and the New Indenture Trustee, a
certificate signed by the Company’s Chief Executive Officer, President, any Senior Vice President,
Chief Financial Officer, Treasurer or Assistant Treasurer, dated as of the Closing Date, addressed
to the Holders and to the New Indenture Trustee, in substantially the form set forth in Exhibit
E-6 hereto.

(f) The Company shall have furnished to the Holders a certificate of the Company, signed by
the Chief Executive Officer, President or a Senior Vice President, and the Chief Financial Officer,
Treasurer or Assistant Treasurer of the Company, in their capacities as such, dated as of the
Closing Date, stating that since the date of the latest Interim Financial Statements, there has
been no material adverse change in the condition (financial or other), earnings, business or assets
of the Company and its subsidiaries, taken as a whole, whether or not arising from transactions
occurring in the ordinary course of business (a “Material Adverse Change”).

(g) Prior to the Closing Date, the Company shall have furnished to the Holders and their
counsel such further information, certificates and documents as the Holders or such counsel may
reasonably request.

If any of the conditions specified in this Section 3 shall not have been fulfilled
when and as provided in this Agreement, or if any of the opinions, certificates and documents
mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory in form and
substance to the Holders or their counsel, this Agreement and any obligations of Taberna hereunder,
whether as holders of the Participating Securities or as prospective Holders of the New Securities,
may be canceled at, or at any time prior to, the Closing Date by Taberna. Notice of such
cancellation shall be given to the Company in writing or by telephone and confirmed in writing, or
by e-mail or facsimile.

Each certificate signed by any officer of the Company and delivered to the Holders or the
Holders’ counsel in connection with the Operative Documents and the transactions contemplated
hereby and thereby shall be deemed to be a representation and warranty of the Company and not by
such officer in any individual capacity.

4. Representations and Warranties of the Company. The Company represents, warrants
and covenants to Taberna, as holder of the Participating Securities, and with the Holders, as
follows as of the date hereof:

(a) It (i) is duly organized and validly existing under the laws of its jurisdiction of
organization or incorporation, and (ii) has full power and authority to execute, deliver and
perform its obligations under this Agreement and the other Operative Documents.

(b) It (i) is a sophisticated entity with respect to matters such as the Exchange, and (ii)
has independently and without reliance upon Taberna, any Holder, Taberna Capital Management, LLC or
the New Indenture Trustee or any of their Affiliates, and based on such information as it has
deemed appropriate, made its own analysis and decision to enter into this Agreement and the other
Operative Documents, except that it has relied upon Taberna’s express representations, warranties,
covenants and agreements in this Agreement. The Company acknowledges that none of Taberna, any
Holders, Taberna Capital Management, LLC or the New Indenture Trustee or any of their Affiliates
has given it any investment advice, credit information or opinion on whether the Exchange is
prudent.

(c) It has not engaged any broker, finder or other entity acting under the authority of it or
any of its Affiliates that is entitled to any broker’s commission or other fee in connection with
this Agreement or the other Operative Documents and the consummation of the transactions
contemplated herein or therein for which Taberna, any Holder, the New Indenture Trustee or any of
their Affiliates could be responsible.

(d) Neither the Company nor any of its “Affiliates” (as defined in Rule 501(b) of Regulation D
(“Regulation D”) under the Securities Act (as defined below)), nor any person acting on its or
their behalf, has, directly or indirectly, made offers or sales of any security, or solicited
offers to buy any security, under circumstances that would require the registration of any of the
New Securities under the Securities Act.

(e) Neither the Company nor any of its Affiliates, nor any person acting on its or their
behalf, has engaged in any form of general solicitation or general advertising (within the meaning
of Regulation D) in connection with any offer or sale of any of the New Securities.

(f) Assuming the accuracy of the representations in Section 5, the New Securities (i)
are not and have not been listed on a national securities exchange registered under Section 6 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or quoted on a U.S. automated
inter-dealer quotation system and (ii) are not of an open-end investment company, unit investment
trust or face-amount certificate company that are, or are required to be, registered under
Section 8 of the Investment Company Act of 1940, as amended (the “Investment Company Act”), and the
New Securities otherwise satisfy the eligibility requirements of Rule 144A(d)(3) promulgated
pursuant to the Securities Act (“Rule 144A(d)(3)”).

(g) Neither the Company nor any of its Affiliates, nor any person acting on its or their
behalf, has engaged, or will engage, in any “directed selling efforts” within the meaning of
Regulation S under the Securities Act with respect to the New Securities.

(h) Assuming the accuracy of the representations in Section 5, the Company is not,
and, following the issuance of the New Securities and the consummation of the transactions
contemplated by the Operative Documents and the application of the proceeds therefrom, the Company
will not be required to register as an “investment company,” nor is or will the Company be an
entity “controlled” by an entity required to register as an “investment company,” in each case
within the meaning of Section 3(a) of the Investment Company Act.

(i) Each of this Agreement and the other Operative Documents and the consummation of the
transactions contemplated herein and therein have been duly authorized by the Company and, on the
Closing Date, will have been duly executed and delivered by the Company, and, assuming due
authorization, execution and delivery by Taberna and/or the New Indenture Trustee, as applicable,
will be a legal, valid and binding obligation of the Company enforceable against it in accordance
with its terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’
rights generally and to general principles of equity.

(j) The New Securities have been duly authorized by the Company and, on the Closing Date, will
have been duly executed and delivered to the New Indenture Trustee for authentication in accordance
with the New Indenture and, when authenticated in the manner provided for in the New Indenture and
delivered to the Holders in exchange for the Participating Securities, will constitute legal, valid
and binding obligations of the Company entitled to the benefits of the New Indenture, enforceable
against the Company in accordance with their terms, subject to applicable bankruptcy, insolvency
and similar laws affecting creditors’ rights generally and to general principles of equity.

(k) Neither the issue of the New Securities and exchange of the New Securities for the
Participating Securities, nor the execution and delivery of and compliance with the Operative
Documents by the Company, nor the consummation of the transactions contemplated herein or therein,
(i) will conflict with or constitute a violation or breach of (x) the charter or bylaws or similar
organizational documents of the Company or any of its subsidiaries or (y) any applicable law,
statute, rule, regulation, judgment, order, writ or decree of any government, governmental
authority, agency or instrumentality or court, domestic or foreign, having jurisdiction over the
Company or any of its subsidiaries or their respective properties or assets (each a “Governmental
Entity” and collectively, the “Governmental Entities”), (ii) will conflict with or constitute a
violation or breach of, or a default or Repayment Event (as defined below) under, or result in the
creation or imposition of any pledge, security interest, claim, lien or other encumbrance of any
kind (each, a “Lien”) upon any property or assets of the Company or any of its subsidiaries
pursuant to any contract, indenture, mortgage, loan agreement, note, lease or other agreement or
instrument to which (A) the Company or any of its subsidiaries is a party or by which it or any of
them may be bound, or (B) to which any of the property or assets of any of them is subject, or any
judgment, order or decree of any court, Governmental Entity or arbitrator, except, in the case of
clause (i)(y) or this clause (ii), for such conflicts, breaches, violations, defaults, Repayment
Events (as defined below) or Liens which (X) would not, singly or in the aggregate, adversely
affect the consummation of the transactions contemplated by the Operative Documents and (Y) would
not, singly or in the aggregate, have a Material Adverse Effect or (iii) will require the consent,
approval, authorization or order of any court or Governmental Entity. As used herein, a “Repayment
Event” means any event or condition which gives the holder of any note, debenture or other evidence
of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase,
redemption or repayment of all or a portion of such indebtedness by the Company or any of its
subsidiaries prior to its scheduled maturity.

(l) The Company has all requisite power and authority to own, lease and operate its properties
and assets and conduct the business it transacts and proposes to transact, and is duly qualified to
transact business and is in good standing in each jurisdiction where the nature of its activities
requires such qualification, except where the failure of the Company to be so qualified would not,
singly or in the aggregate, have a Material Adverse Effect.

(m) The Company has no subsidiaries that are material to its business, financial condition or
earnings, other than the Significant Subsidiaries listed in Exhibit D attached hereto
(which Exhibit D includes each of the Company’s Significant Subsidiaries). Each
Significant Subsidiary is a corporation, partnership or limited liability company duly and properly
incorporated or organized or formed, as the case may be, validly existing and in good standing
under the laws of the jurisdiction in which it is chartered or organized or formed, with all
requisite corporate power and authority to own, lease and operate its properties and conduct the
business it transacts. Each Significant Subsidiary is duly qualified to transact business as a
foreign corporation, partnership or limited liability company, as applicable, and is in good
standing in each jurisdiction where the nature of its activities requires such qualification,
except where the failure to be so qualified would not, singly or in the aggregate, have a Material
Adverse Effect. No Significant Subsidiary of the Company is currently prohibited, directly or
indirectly, under any agreement or other instrument, other than as required by applicable law, to
which it is a party or is subject , from paying any dividends to the Company, from making any
other distribution on such Significant Subsidiary’s capital stock or other Equity Interests, from
repaying to the Company any loans or advances to such Significant Subsidiary from the Company or
from transferring any of such Significant Subsidiary’s properties or assets to the Company or any
other subsidiary of the Company.

(n) The Company and each of the Significant Subsidiaries hold all necessary approvals,
authorizations, orders, licenses, consents, registrations, qualifications, certificates and permits
(collectively, the “Governmental Licenses”) of and from Governmental Entities necessary to conduct
their respective businesses as now being conducted, and neither the Company nor any Significant
Subsidiaries has received any notice of proceedings relating to the revocation or modification of
any such Governmental License, except where the failure to be so licensed or approved or the
receipt of an unfavorable decision, ruling or finding, would not, singly or in the aggregate, have
a Material Adverse Effect; all of the Governmental Licenses are valid and in full force and effect,
except where the invalidity or the failure of such Governmental Licenses to be in full force and
effect, would not, singly or in the aggregate, have a Material Adverse Effect; and the Company and
the Significant Subsidiaries are in compliance with all applicable laws, rules, regulations,
judgments, orders, decrees and consents, except where the failure to be in compliance would not,
singly or in the aggregate, have a Material Adverse Effect.

(o) All of the issued and outstanding Equity Interests of the Company and each of its
subsidiaries are validly issued, fully paid and non-assessable; all of the issued and outstanding
Equity Interests of each consolidated subsidiary of the Company is owned by the Company, directly
or through subsidiaries, free and clear of any Lien, claim, or equitable right (in each case, other
than preferred equity interests issued by CDO subsidiaries); and none of the issued and outstanding
Equity Interests of the Company or any subsidiary was issued in violation of any preemptive or
similar rights arising by operation of law, under the charter or by-laws of such entity or under
any agreement to which the Company or any of its subsidiaries is a party.

(p) Neither the Company nor any of its subsidiaries is (i) in violation of its respective
charter or by-laws or similar organizational documents or (ii) in default in the performance or
observance of any obligation, agreement, covenant or condition contained in any contract,
indenture, mortgage, loan agreement, note, lease or other agreement or instrument to which the
Company or any such subsidiary is a party or by which it or any of them may be bound or to which
any of the property or assets of any of them is subject, except, in the case of clause (ii), where
such violation or default would not, singly or in the aggregate, have a Material Adverse Effect.

(q) There is no action, suit or proceeding before or by any Governmental Entity, arbitrator or
court, domestic or foreign, now pending or, to the knowledge of the Company after due inquiry,
threatened against or affecting the Company or any of its subsidiaries, except for such actions,
suits or proceedings that, if adversely determined, would not, singly or in the aggregate,
adversely affect the consummation of the transactions contemplated by the Operative Documents or
have a Material Adverse Effect; and the aggregate of all pending legal or governmental proceedings
to which the Company or any of its subsidiaries is a party or of which any of their respective
properties or assets is subject, including ordinary routine litigation incidental to the business,
are not expected to result in a Material Adverse Effect.

(r) The accountants of the Company who certified the Financial Statements(defined below) are
independent public accountants of the Company and its subsidiaries within the meaning of the
Securities Act, and the rules and regulations of the Securities and Exchange Commission (the
“Commission”) thereunder.

(s) The audited consolidated financial statements (including the notes thereto) and schedules
of the Company and its consolidated subsidiaries for the fiscal year ended December 31, 2008, (the
“Financial Statements”) and the interim unaudited consolidated financial statements of the Company
and its consolidated subsidiaries for the quarter ended September 30, 2009 (the “Interim Financial
Statements”) provided to Taberna are the most recent publicly available audited and unaudited
consolidated financial statements of the Company and its consolidated subsidiaries, respectively,
and fairly present in all material respects, in accordance with U.S. generally accepted accounting
principles (“GAAP”), the financial position of the Company and its consolidated subsidiaries, and
the results of operations and changes in financial condition as of the dates and for the periods
therein specified, subject, in the case of Interim Financial Statements, to year-end adjustments.
Such consolidated financial statements and schedules have been prepared in accordance with GAAP
consistently applied throughout the periods involved (except as otherwise noted therein and subject
to normal recurring adjustments in the ordinary course).

(t) Neither the Company nor any of its subsidiaries has any material liability, whether
asserted or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether
liquidated or unliquidated, and whether due or to become due, including any liability for taxes
(and there is no past or present fact, situation, circumstance, condition or other basis for any
present or future action, suit, proceeding, hearing, charge, complaint, claim or demand against the
Company or any of its subsidiaries that could give rise to any such liability), except for
(i) liabilities set forth in the Financial Statements or the Interim Financial Statements, or
otherwise disclosed in any public filing of the Company, (ii) normal fluctuations in the amount of
the liabilities referred to in clause (i) above occurring in the ordinary course of business of the
Company and all of its subsidiaries since the date of the most recent balance sheet included in
such Interim Financial Statements, and (iii) as otherwise set forth in the Operative Documents.

(u) Since the date of the Interim Financial Statements, there has not been (A) any Material
Adverse Change or (B) any dividend or distribution of any kind declared, paid or made by the
Company on any class of its Equity Interests, other than regular quarterly dividends.

(v) No labor dispute with the employees of the Company or any of its subsidiaries exists or,
to the knowledge of the Company, is imminent, except those which would not, singly or in the
aggregate, have a Material Adverse Effect.

(w) No filing with, or authorization, approval, consent, license, order, registration,
qualification or decree of, any Governmental Entity, other than those that have been made or
obtained, is necessary or required for the performance by the Company of its obligations under the
Operative Documents, as applicable, or the consummation by the Company of the transactions
contemplated by the Operative Documents.

(x) The Company and each of its subsidiaries has good and marketable title to all of its
respective real and personal property, in each case free and clear of all Liens and defects, except
for those that would not, singly or in the aggregate, have a Material Adverse Effect; and all of
the leases and subleases under which the Company or any of its subsidiaries holds properties are in
full force and effect, except where the failure of such leases and subleases to be in full force
and effect would not, singly or in the aggregate, have a Material Adverse Effect, and neither the
Company nor any of its subsidiaries has any notice of any claim of any sort that has been asserted
by anyone adverse to the rights of the Company or any subsidiary of the Company under any such
leases or subleases, or affecting or questioning the rights of such entity to the continued
possession of the leased or subleased premises under any such lease or sublease, except for such
claims that would not, singly or in the aggregate, have a Material Adverse Effect.

(y) The Company and each Significant Subsidiary has timely and duly filed (or filed extensions
thereof (and which extensions are presently in effect)) all Tax Returns (as defined below) required
to be filed by them, except where such would not, singly or in the aggregate, have a Material
Adverse Effect, and all such Tax Returns are true, correct and complete in all material respects.
The Company and each Significant Subsidiary has timely and duly paid in full all Taxes (as defined
below) required to be paid by them (whether or not such amounts are shown as due on any Tax
Return), except for any Taxes that are being disputed in good faith and for which adequate reserves
are held. There are no federal, state, or other Tax audits or deficiency assessments proposed or
pending with respect to the Company or any of the Significant Subsidiaries, and no such audits or
assessments are threatened that if adversely determined would have a Material Adverse Effect. As
used herein, the terms “Tax” or “Taxes” mean (i) all federal, state, local, and foreign taxes, and
other assessments of a similar nature (whether imposed directly or through withholding), including
any interest, additions to tax, or penalties applicable thereto, imposed by any Governmental
Entity, and (ii) all liabilities in respect of such amounts arising as a result of being a member
of any affiliated, consolidated, combined, unitary or similar group, as a successor to another
person or by contract. As used herein, the term “Tax Returns” means all federal, state, local, and
foreign Tax returns, declarations, statements, reports, schedules, forms, and information returns
and any amendments thereto filed or required to be filed with any Governmental Entity.

(z) Interest payable by the Company on the New Securities is deductible by the Company for
United Stated Federal income tax purposes and there are no rulemaking or similar proceedings before
the U.S. Internal Revenue Service or comparable federal, state, local or foreign government bodies
which involve or affect the Company or any subsidiary, which, if the subject of an action
unfavorable to the Company or any subsidiary, would likely result in a Material Adverse Effect.

(aa) The books, records and accounts of the Company and its subsidiaries accurately and fairly
reflect, in reasonable detail, the transactions in, and dispositions of, the assets of, and the
results of operations of, the Company and its subsidiaries. The Company and each of its
subsidiaries maintains a system of internal accounting controls to provide reasonable assurances
that (i) transactions are executed in accordance with management’s general or specific
authorizations, (ii) transactions are recorded as necessary to permit preparation of financial
statements in accordance with GAAP and to maintain asset accountability, (iii) access to assets is
permitted only in accordance with management’s general or specific authorization and (iv) the
recorded accountability for assets is compared with the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences.

(bb) The Company and the Significant Subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts in all material respects
as are customary in the businesses in which they are engaged or propose to engage after giving
effect to the transactions contemplated hereby including but not limited to, real or personal
property owned or leased against theft, damage, destruction, act of vandalism and all other risks
customarily insured against. All policies of insurance and fidelity or surety bonds insuring the
Company or any of the Significant Subsidiaries or the Company’s or Significant Subsidiaries’
respective businesses, assets, employees, officers and directors are in full force and effect. The
Company and each of the Significant Subsidiaries are in compliance with the terms of such policies
and instruments in all material respects. Neither the Company nor any Significant Subsidiary has
reason to believe that it will not be able to renew its existing insurance coverage as and when
such coverage expires or to obtain similar coverage from similar insurers as may be necessary to
continue its business at a cost that would not have a Material Adverse Effect. Within the past
twelve months, neither the Company nor any Significant Subsidiary has been denied any insurance
coverage it has sought or for which it has applied.

(cc) The Company and its subsidiaries or any person acting on behalf of the Company and its
subsidiaries including, without limitation, any director, officer, agent or employee of the Company
or its subsidiaries has not, directly or indirectly, while acting on behalf of the Company and its
subsidiaries (i) used any corporate funds for unlawful contributions, gifts, entertainment or other
unlawful expenses relating to political activity; (ii) made any unlawful payment to foreign or
domestic government officials or employees or to foreign or domestic political parties or campaigns
from corporate funds; (iii) violated any provision of the Foreign Corrupt Practices Act of 1977, as
amended; or (iv) made any other unlawful payment.

(dd) The information provided by the Company pursuant to the Operative Documents does not, as
of the date hereof, contain any untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading.

Except as expressly stated in this Agreement, the other Operative Documents or any of the
other documents delivered by the Company in connection herewith, the Company makes no
representations or warranties, express or implied, with respect to the Exchange, the Taberna
Transferred Rights, the Participating Securities, the Original Indentures or any other matter.

5. Representations and Warranties of Taberna. Each of Taberna V, Taberna VII, Taberna
VIII and Taberna IX, for itself, represents, warrants and covenants to the Company as follows:

(a) It (i) is duly organized and validly existing under the laws of its jurisdiction of
organization or incorporation, and (ii) has full power and authority to execute, deliver and
perform its obligations under this Agreement.

(b) This Agreement and the consummation of the transactions contemplated herein has been duly
authorized by it and, on the Closing Date, will have been duly executed and delivered by it and,
assuming due authorization, execution and delivery by the Company and the New Indenture Trustee of
the Operative Documents to which each is a party, will be a legal, valid and binding obligation of
such Taberna entity, enforceable against such Taberna entity in accordance with its terms, subject
to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally and to
general principles of equity.

(c) No filing with, or authorization, approval, consent, license, order registration,
qualification or decree of, any Governmental Entity or any other Person, other than those that have
been made or obtained, is necessary or required for the performance by such Taberna entity of its
obligations under this Agreement or to consummate the transactions contemplated herein.

(d) It is a “Qualified Purchaser” as such term is defined in Section 2(a)(51) of the
Investment Company Act.

(e) Taberna V is the sole legal and beneficial owner of the Participating Trust I Securities
and the related Taberna Transferred Rights and shall deliver the Participating Trust I Securities
free and clear of any Lien.

(f) Taberna VII is the sole legal and beneficial owner of the Participating Trust II
Securities and the related Taberna Transferred Rights and shall deliver the Participating Trust II
Securities free and clear of any Lien.

(g) Taberna VIII and Taberna IX are the legal and beneficial owners of the Participating Trust
III Securities and the related Taberna Transferred Rights and shall deliver the Participating Trust
III Securities free and clear of any Lien.

(h) There is no action, suit or proceeding before or by any Governmental Entity, arbitrator or
court, domestic or foreign, now pending or, to its knowledge, threatened against or affecting it,
except for such actions, suits or proceedings that, if adversely determined, would not, singly or
in the aggregate, adversely affect the consummation of the transactions contemplated by the
Operative Documents.

(i) The outstanding principal amount of its respective Participating Securities is the face
amount as set forth in such Participating Securities.

(j) It is aware that the New Securities have not been and will not be registered under the
Securities Act and may not be offered or sold within the United States or to “U.S. persons” (as
defined in Regulation S under the Securities Act) except in accordance with Rule 903 of Regulation
S under the Securities Act or pursuant to an exemption from the registration requirements of the
Securities Act.

(k) It is an “accredited investor,” as such term is defined in Rule 501(a) of Regulation D
under the Securities Act. Without characterizing the Participating Securities or the Taberna
Transferred Rights as a “security” within the meaning of the applicable securities laws, it has not
made any offers to sell, or solicitations of any offers to buy, all or any portion of the
Participating Securities or Taberna Transferred Rights in violation of any applicable securities
laws.

(l) Neither it nor any of its Affiliates, nor any person acting on its or its Affiliate’s
behalf has engaged, or will engage, in any form of “general solicitation or general advertising”
(within the meaning of Regulation D under the Securities Act) in connection with any offer or sale
of the New Securities.

(m) It understands and acknowledges that (i) no public market exists for any of the New
Securities and that it is unlikely that a public market will ever exist for the New Securities,
(ii) such Holder is purchasing the New Securities for its own account, for investment and not with
a view to, or for offer or sale in connection with, any distribution thereof in violation of the
Securities Act or other applicable securities laws, subject to any requirement of law that the
disposition of its property be at all times within its control and subject to its ability to resell
such Securities pursuant to an effective registration statement under the Securities Act or
pursuant to an exemption therefrom or in a transaction not subject thereto, and it agrees to the
legends and transfer restrictions applicable to the New Securities contained in the New Indenture,
and (iii) it has had the opportunity to ask questions of, and receive answers and request
additional information from, the Company and is aware that it may be required to bear the economic
risk of an investment in the New Securities.

(n) It has not engaged any broker, finder or other entity acting under its authority that is
entitled to any broker’s commission or other fee in connection with this Agreement and the
consummation of transactions contemplated herein for which the Company could be responsible.

(o) It (i) is a sophisticated entity with respect to the Exchange, (ii) has such knowledge and
experience, and has made investments of a similar nature, so as to be aware of the risks and
uncertainties inherent in the Exchange and (iii) has independently and without reliance upon the
Company or any of its Affiliates, and based on such information as it has deemed appropriate, made
its own analysis and decision to enter into this Agreement, except that it has relied upon the
Company’s express representations, warranties, covenants and agreements in the Operative Documents
and the other documents delivered by the Company in connection therewith.

Except as expressly stated in this Agreement, no Taberna entity makes any representations or
warranties, express or implied, with respect to the Exchange, the Taberna Transferred Rights, the
Participating Securities, the Original Indentures, or any other matter.

6. Covenants and Agreements of the Company. The Company covenants and agrees with
Taberna and the Holders as follows:

(a) The Company will arrange for the qualification of the New Securities for sale under the
laws of such jurisdictions as the Holders may reasonably designate and will maintain such
qualifications in effect so long as required for the sale of the New Securities. The Company will
promptly advise the Holders of the receipt by the Company of any notification with respect to the
suspension of the qualification of the New Securities for sale in any jurisdiction or the
initiation or threatening of any proceeding for such purpose.

(b) The Company will not, and will not permit any of its Affiliates or any person acting on
its or their behalf to, engage in any “directed selling efforts” within the meaning of Regulation S
under the Securities Act with respect to the New Securities.

(c) The Company will not, and will not permit any of its Affiliates or any person acting on
its or their behalf to, directly or indirectly, make offers or sales of any security, or solicit
offers to buy any security, under circumstances that would require the registration of any of the
New Securities under the Securities Act.

(d) The Company will not, and will not permit any of its Affiliates or any person acting on
its or their behalf to, engage in any form of “general solicitation or general advertising” (within
the meaning of Regulation D) in connection with any offer or sale of the any of the New Securities.

(e) (i) For a year from the date hereof, the New Securities shall not be listed on a national
securities exchange registered under Section 6 of the Exchange Act or quoted in a U.S. automated
inter-dealer quotation system, and (ii) so long as any of the New Securities are outstanding, the
Company shall not be an open-end investment company, unit investment trust or face-amount
certificate company that is, or is required to be, registered under Section 8 of the Investment
Company Act, and, the New Securities shall otherwise satisfy the eligibility requirements of Rule
144A(d)(3).

(f) The Company will, during any period in which it is not subject to and in compliance with
Section 13 or 15(d) of the Exchange Act, or it is not exempt from such reporting requirements
pursuant to and in compliance with Rule 12g3-2(b) under the Exchange Act, provide to each Holder
and to each prospective purchaser (as designated by a Holder) of the New Securities, upon the
request of such Holder or prospective purchaser, any information required to be provided by Rule
144A(d)(4) under the Securities Act.  If the Company is required to register under the Exchange
Act, such reports filed in compliance with Rule 12g3-2(b) shall be sufficient information as
required above. This covenant is intended to be for the benefit of the Holders, the holders of the
New Securities, and the prospective purchasers designated by the Holders and such holders, from
time to time, of the New Securities.

(g) The Company will not, until one hundred eighty (180) days following the Closing Date,
without the Holders’ prior written consent, offer, sell, contract to sell, grant any option to
purchase or otherwise dispose of, directly or indirectly to a prospective purchaser, (i) any New
Securities or other securities substantially similar to the New Securities other than as
contemplated by the New Indenture, if at all, or (ii) any other securities convertible into, or
exercisable or exchangeable for, any of the New Securities or other securities substantially
similar to the New Securities, unless the Company provides each Holder with an opinion of counsel
(such counsel to have experience and sophistication in the matters addressed in such opinion)
addressed to each Holder stating that any such offer, sale, contract, option or other disposition
will not result in the New Securities being required to be registered under the Securities Act;
provided, however, the foregoing shall not apply to a redemption or an exchange
with Taberna III of the Non-Participating Trust I Securities.

(h) The Company will not identify any of the Indemnified Parties (as defined below) in a press
release or any other public statement without the prior written consent of such Indemnified Party.

7. Payment of Expenses. (a) In addition to the obligations agreed to by the Company
under Section 2(b)(viii) and (ix) herein, the Company agrees to pay all costs and
expenses incident to the performance of the obligations of the Company under this Agreement,
whether or not the transactions contemplated herein are consummated or this Agreement is
terminated, including all costs and expenses incident to (i) the authorization, issuance, sale and
delivery of the New Securities and any taxes payable in connection therewith (other than taxes
related to income of the Holders); (ii) the fees and expenses of counsel, accountants and any other
experts or advisors retained by the Company; and (iii) the fees and all reasonable expenses of each
CDO Trustee, the New Indenture Trustee and any other trustee or paying agent appointed under the
Operative Documents, including the fees and disbursements of counsel for such trustees. The fees
of the New Indenture Trustee (excluding fees and disbursements of counsel) shall not exceed the
amounts set forth in that certain Fee Agreement dated as of the date hereof between the Company and
BNYM, executed in connection with the New Indenture.

(b) Taberna agrees that any outstanding fee payable with respect to the Participating
Securities, as set forth in each of the Third Supplemental Indentures to the Original Indentures,
shall no longer be payable. For the avoidance of doubt, any such fee with respect to the
Non-Participating Trust I Securities shall remain due and payable as set forth in the relevant
Third Supplemental Indenture.

8. Indemnification. (a)  The Company agrees to indemnify and hold harmless BNYM, the
Holders, Taberna, Taberna Capital Management, LLC, Taberna Securities, LLC, and their respective
Affiliates (collectively, the “Indemnified Parties”), the Indemnified Parties’ respective
directors, officers, employees and agents and each person, if any, who controls the Indemnified
Parties within the meaning of the Securities Act or the Exchange Act against any and all losses,
claims, damages or liabilities, joint or several, to which the Indemnified Parties may become
subject, under the Securities Act, the Exchange Act or other federal or state statutory law or
regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based on (i) any untrue statement or alleged untrue
statement of a material fact contained in any information or documents provided by or on behalf of
the Company, (ii) any omission or alleged omission to state a material fact required to be stated
or necessary to make the statements contained in any information provided by the Company, in light
of the circumstances under which they were made, not misleading, (iii) the breach or alleged breach
of any representation, warranty, or agreement of the Company contained herein, or (iv) the
execution and delivery by the Company of the Operative Documents and the consummation of the
transactions contemplated herein and therein, and agrees to reimburse each such Indemnified Party,
as incurred, for any legal or other expenses reasonably incurred by the Indemnified Parties in
connection with investigating or defending any such loss, claim, damage, liability or action. The
indemnity provided in this Section 8 will be in addition to any liability that the Company
may otherwise have.

(b) Promptly after receipt by an Indemnified Party under this Section 8 of notice of
the commencement of any action, such Indemnified Party will, if a claim in respect thereof is to be
made against the Company under this Section 8, promptly notify the Company in writing of
the commencement thereof; but the failure to so notify the Company (i) will not relieve the Company
from liability under paragraph (a) above unless and to the extent that such failure results in the
forfeiture by the Company of material rights and defenses and (ii) will not, in any event, relieve
the Company from any obligations to any Indemnified Party other than the indemnification obligation
provided in paragraph (a) above. The Indemnified Parties shall be entitled to appoint counsel to
represent the Indemnified Parties in any action for which indemnification is sought. The Company
may participate at its own expense in the defense of any such action; provided, that counsel to the
Company shall not (except with the consent of the Indemnified Party) also be counsel to the
Indemnified Party. In no event shall the Company be liable for fees and expenses of more than one
counsel (in addition to any local counsel) separate from their own counsel for all Indemnified
Parties in connection with any one action or separate but similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances, unless an Indemnified
Party elects to engage separate counsel because such Indemnified Party believes that its interests
are not aligned with the interests of another Indemnified Party or that a conflict of interest
might result. The Company will not, without the prior written consent of the Indemnified Parties,
settle or compromise or consent to the entry of any judgment with respect to any pending or
threatened claim, action, suit or proceeding in respect of which indemnification may be sought
hereunder (whether or not the Indemnified Parties are actual or potential parties to such claim,
action, suit or proceeding) unless such settlement, compromise or consent includes an unconditional
release of each Indemnified Party from all liability arising out of such claim, action, suit or
proceeding.

9. Representations and Indemnities to Survive. The respective agreements,
representations, warranties, indemnities and other statements of the Company and/or its officers
set forth in or made pursuant to this Agreement will remain in full force and effect and will
survive the Exchange. The provisions of Sections 7 and 8 shall survive the
termination or cancellation of this Agreement.

10. Amendments. This Agreement may not be modified, amended, altered or supplemented,
except upon the execution and delivery of a written agreement by each of the parties hereto.

11. Notices. All communications hereunder will be in writing and effective only on
receipt, and will be mailed, delivered by hand or courier or sent by facsimile and confirmed or by
any other reasonable means of communication, including by electronic mail, to the relevant party at
its address specified in Exhibit C.

12. Successors and Assigns. This Agreement will inure to the benefit of and be
binding upon the parties hereto and their respective successors and permitted assigns. Nothing
expressed or mentioned in this Agreement is intended or shall be construed to give any person other
than the parties hereto and the affiliates, directors, officers, employees, agents and controlling
persons referred to in Section 8 hereof and their successors, assigns, heirs and legal
representatives, any right or obligation hereunder. None of the rights or obligations of the
Company under this Agreement may be assigned, whether by operation of law or otherwise, without
Taberna’s prior written consent. The rights and obligations of the Holders under this Agreement
may be assigned by the Holders without the Company’s consent; provided that the assignee assumes
the obligations of any such Holders under this Agreement.

13. Applicable Law. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF
LAW (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW).

14. Submission to Jurisdiction. ANY LEGAL ACTION OR PROCEEDING BY OR AGAINST ANY
PARTY HERETO OR WITH RESPECT TO OR ARISING OUT OF THIS AGREEMENT MAY BE BROUGHT IN OR REMOVED TO
THE COURTS OF THE STATE OF NEW YORK, IN AND FOR THE COUNTY OF NEW YORK, OR OF THE UNITED STATES OF
AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK (IN EACH CASE SITTING IN THE BOROUGH OF MANHATTAN).
BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY ACCEPTS, FOR ITSELF AND IN RESPECT OF ITS
PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS (AND COURTS OF
APPEALS THEREFROM) FOR LEGAL PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT.

15. Counterparts and Facsimile. This Agreement may be executed by any one or more of
the parties hereto in any number of counterparts, each of which shall be deemed to be an original,
but all such counterparts shall together constitute one and the same instrument. This Agreement
may be executed by any one or more of the parties hereto by facsimile.

16. Entire Agreement. This Agreement constitutes the entire agreement of the parties
to this Agreement and supercedes all prior written or oral and all contemporaneous oral agreements,
understandings and negotiations with respect to the subject matter hereof.

[Signature Pages Follow]

IN WITNESS WHEREOF, this Agreement has been entered into as of the date first written
above.

DEERFIELD CAPITAL CORP.,

a Maryland corporation

By: /s/ Robert A. Contreras

Name: Robert A. Contreras

Title: Secretary

(Signatures continue on the next page)

TABERNA, AS HOLDERS OF THE PARTICIPATING SECURITIES AND AS HOLDERS (AS DEFINED IN THE NEW
INDENTURE):

TABERNA PREFERRED FUNDING V, LTD.,

TABERNA PREFERRED FUNDING VII, LTD.,

TABERNA PREFERRED FUNDING VIII, LTD.,

TABERNA PREFERRED FUNDING IX, LTD.

By: Taberna Capital Management, LLC

as Collateral Manager

By: /s/ Michael A. Fralin

Name: Michael A. Fralin

Title: Managing Director

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