Document:

EX-10.1

 EXHIBIT 10-1 

[As adopted 10/26/04 and amended 05/22/09 and 06/03/14] 

CALAMOS ASSET MANAGEMENT, INC. 

INCENTIVE COMPENSATION PLAN 

(As amended June 3, 2014) 

 Table of Contents 

 

			
	 	  	Page
		
	1.       PURPOSE OF PLAN	  	1
		
	2.       TERM OF PLAN	  	1
		
	3.       STOCKHOLDER APPROVAL	  	1
		
	4.       ADMINISTRATION	  	2
		
	5.       ELIGIBILITY AND PARTICIPATION	  	4
		
	6.       SHARES SUBJECT TO PLAN	  	4
		
	7.       MAXIMUM INDIVIDUAL AWARDS	  	6
		
	8.       AWARDS	  	6
		
	9.       CHANGE IN CONTROL	  	8
		
	10.     AMENDMENT AND TERMINATION	  	8
		
	11.     MISCELLANEOUS	  	9
		
	12.     DEFINITIONS	  	11

  
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 CALAMOS ASSET MANAGEMENT, INC. 

INCENTIVE COMPENSATION PLAN 

(As amended June 3, 2014) 
  

	1.	PURPOSE OF PLAN 

 1.1 Purpose. The purpose of the Plan is to motivate
certain Employees, Nonemployee Directors and Consultants to put forth maximum efforts toward the growth, profitability and success of the Company and Subsidiaries by providing incentives to such Employees, Nonemployee Directors and Consultants
either through cash payments and/or through the ownership and performance of the Common Stock. In addition, the Plan is intended to provide incentives that will attract and retain highly qualified individuals as Employees, Nonemployee Directors and
Consultants, and to assist in aligning the interests of such Employees, Nonemployee Directors and Consultants with the interests of the Stockholders of the Company. 
  

	2.	TERM OF PLAN 

 2.1 Term. The Plan, amended, shall be effective as of the
Effective Date and, unless sooner terminated by the Board under Section 10 below, shall terminate when all shares of Common Stock subject to the Plan have been issued according to the provisions herein; provided, however, in no event may an
Award be granted under the Plan after the tenth (10th) anniversary of the Effective Date. 
  

	3.	STOCKHOLDER APPROVAL 

 3.1 Stockholder Approval. The Plan was initially
approved by the stockholders of the Company on October 26, 2004 and amended on May 22, 2009. This Plan, as amended, was approved by the stockholders of the Company on June 3, 2014 (the “Effective Date”) 

3.2 Plan Amendment. Any amendment to the Plan that is determined to be a “material amendment” (or word(s) of
similar effect) under the rules of the Nasdaq Stock Market or the exchange or system on which the Company’s Common Stock is then listed shall be approved by stockholders before such amendment shall be effective. 

3.3 Repricings Subject to Stockholder Approval. Any amendment, revision or other change to an outstanding Award that is
determined to be a “repricing” (or word(s) of similar effect) under the rules of the Nasdaq Stock Market or the exchange or system on which the Company’s Common Stock is then listed shall be approved by stockholders before
such amendment, revision or other change shall be effective. 

	4.	ADMINISTRATION 

 4.1 Responsibility. The Committee shall have the
responsibility, in its sole discretion, to control, operate, manage and administer the Plan in accordance with its terms. 

4.2 Award Agreement. Each Award granted under the Plan shall be evidenced by an Award Agreement. 

4.3 Authority of the Committee. The Committee shall have all the discretionary authority that may be necessary or helpful to
enable it to discharge its responsibilities with respect to the Plan, including but not limited to the following: 

(a) to determine eligibility for participation in the Plan; 

(b) to determine eligibility for and the type and size of an Award granted under the Plan; 

(c) to grant Awards and to determine the terms of each Award Agreement, and any amendments or modification thereof; 

(d) to establish objectives and conditions for earning amounts under an Award and to determine whether and to what extent such
objectives and conditions have been met; 
 (e) to supply any omission, correct any defect, or reconcile any inconsistency in
the Plan in such manner and to such extent as it shall deem appropriate in its sole discretion to carry the same into effect; 

(f) to issue administrative guidelines as an aid to administer the Plan and make changes in such guidelines as it from time to
time deems proper; 
 (g) to make rules for carrying out and administering the Plan and make changes in such rules as it from
time to time deems proper; 
 (h) to the extent permitted under the Plan, grant waivers of Plan terms, conditions,
restrictions and limitations; 
 (i) to accelerate the Vesting of any Award when such action or actions would be in the best
interest of the Company; 
 (j) to grant Awards in replacement of Awards previously granted under this Plan or any other
executive compensation plan of the Company; and 
 (k) to take any and all other actions it deems necessary or advisable for
the proper operation or administration of the Plan. 

  
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 4.4 Action by the Committee. The Committee may act only by a majority of its
members. Any determination of the Committee may be made, without a meeting, by a writing or writings signed by all of the members of the Committee. In addition, the Committee may authorize any one or more of its members to execute and deliver
documents on behalf of the Committee. 
 4.5 Delegation of Authority. The Committee may delegate to one or more of its
members, or to one or more agents, such administrative duties as it may deem advisable; provided, however, that any such delegation shall be in writing. In addition, the Committee may delegate to the Company’s Chief Executive Officer or to
other Company officers its authority under this Section 4, provided that such delegation shall not extend to the grant of Awards or the exercise of discretion with respect to Awards to employees who are covered employees under Code
Section 162(m) or officers under Section 16 of the Exchange Act. The Committee, or any person to whom it has delegated duties under this Section 4.5, may employ one or more persons to render advice with respect to any
responsibility the Committee or such person may have under the Plan. The Committee may employ such legal or other counsel, consultants and agents as it may deem desirable for the administration of the Plan and may rely upon any opinion or
computation received from any such counsel, consultant or agent. Expenses incurred by the Committee in the engagement of such counsel, consultant or agent shall be paid by the Company, or by the Subsidiary whose employees have benefited from the
Plan, as determined by the Committee. 
 4.6 Determinations and Interpretations by the Committee. All determinations
and interpretations made by the Committee shall be binding and conclusive on all Participants and their heirs, successors, and legal representatives. 

4.7 Liability. No member of the Board, no member of the Committee and no employee of the Company shall be liable for any act or
failure to act hereunder, except in circumstances involving his or her bad faith, gross negligence or willful misconduct, or for any act or failure to act hereunder by any other member or employee or by any agent to whom duties in connection with
the administration of the Plan have been delegated. 
 4.8 Indemnification. The Company shall indemnify members of the
Committee and any agent of the Committee who is an employee of the Company, against any and all liabilities or expenses to which they may be subjected by reason of any act or failure to act with respect to their duties on behalf of the Plan, except
in circumstances involving such person’s bad faith, gross negligence or willful misconduct. 

  
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	5.	ELIGIBILITY AND PARTICIPATION 

 5.1 Eligibility. All Employees, all
Nonemployee Directors and all Consultants shall be eligible to participate in the Plan and to receive Awards. 
 5.2
Participation. Participants shall consist of such Employees, Nonemployee Directors and Consultants as the Committee in its sole discretion designates to receive Awards under the Plan. Designation of a Participant in any year shall not require
the Committee to designate such person or entity to receive an Award in any other year or, once designated, to receive the same type or amount of Award as granted to the Participant in any other year. The Committee shall consider such factors as it
deems pertinent in selecting Participants and in determining the types and amounts of their respective Awards. 
  

	6.	SHARES SUBJECT TO PLAN 

 6.1 Available Shares. 

(a) Subject to adjustment as provided in Section 6.2 below, in addition to the number of shares subject to Awards
outstanding under the Plan as of March 31, 2014, the aggregate number of shares of Common Stock which shall be available for issuance or payments of Awards made under the Plan during its term after the Effective Date shall be 2,946,331 shares.
Such shares of Common Stock available for issuance under the Plan may be either authorized but unissued shares, shares of issued stock held in the Company’s treasury, or both, at the discretion of the Company, and subject to any adjustments
made in accordance with Section 6.2 below. To the extent shares of Common Stock underlying Awards are not issued by reason of the expiration, forfeiture, lapse or cancellation of such Awards, by reason of the tendering or withholding of shares
in payment of exercise price or payment of withholding tax obligations relating to an Award, or otherwise without the issuance or delivery of all of the shares covered by such Award, then such shares shall again be available for issuance or payments
of Awards under the Plan. Awards that are payable only in cash are not subject to this Section 6.1. 
 (b) Shares of
Common Stock issued in connection with Awards that are assumed, converted or substituted pursuant to a merger, acquisition or similar transaction entered into by the Company or any of its Subsidiaries shall not reduce the number of shares available
for issuance under this Plan. 
 (c) Subject to adjustment as provided in Section 6.2 below, the following limitations
shall apply to Awards under the Plan: 
 (i) Except as provided in clause (ii), all of the shares that may be issued under
this Plan may be issued pursuant to any type of Award granted under this Plan. 
 (ii) The number of shares that may be
issued under this Plan pursuant to Stock Options granted after March 31, 2014 which are Incentive Stock Options shall be limited to 2,946,331. 

  
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 6.2 Adjustment to Shares. If there is any change in the Common Stock of the
Company, through merger, consolidation, reorganization, recapitalization, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares, dividend in kind or other like change in capital
structure or distribution (other than normal cash dividends) to Stockholders of the Company, an adjustment shall be made to each outstanding Award so that each such Award shall thereafter be with respect to or exercisable for such securities,
cash and/or other property as would have been received in respect of the Common Stock subject to such Award had such Award been paid, distributed or exercised in full immediately prior to such change or distribution. Such adjustment shall be made
successively each time any such change shall occur. In addition, in the event of any such change or distribution, in order to prevent dilution or enlargement of Participants’ rights under the Plan, the Committee shall have the authority to
adjust, in an equitable manner, the number and kind of shares that may be issued under the Plan, in accordance with the limitations set forth in Sections 6.1 and 7.1, the number and kind of shares subject to outstanding Awards, the exercise
price applicable to outstanding Stock Options, and the Fair Market Value of a Share of the Common Stock and other value determinations applicable to outstanding Awards. Appropriate adjustments may also be made by the Committee in the terms of any
Awards granted under the Plan to reflect such changes or distributions and to modify any other terms of outstanding Awards on an equitable basis, including modifications of performance goals and changes in the length of performance periods;
provided, however, that with respect to performance-based Awards, such modifications and/or changes do not disqualify compensation attributable to such Awards as “performance-based compensation” under Code Section 162(m). In addition,
the Committee is authorized to make adjustments to the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events affecting the Company or the financial statements of the Company, or in response to
changes in applicable laws, regulations or accounting principles. Notwithstanding anything contained in the Plan, any adjustment with respect to an ISO due to a change or distribution described in this Section 6.2 shall comply with the rules of
Code Section 424(a), and in no event shall any adjustment be made which would render any ISO granted hereunder other than an ISO. 

  
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	7.	MAXIMUM INDIVIDUAL AWARDS 

 7.1 Maximum Aggregate Number of Shares Underlying
Stock-Based Awards Granted Under the Plan to Any Single Participant. The maximum aggregate number of shares of Common Stock underlying all Awards measured in shares of Common Stock (whether payable in Common Stock, cash or a combination of
both) that may be granted to any single Participant during any one calendar year shall be 1,000,000 shares, subject to adjustment as provided in Section 6.2 above. For purposes of the preceding sentence, such Awards that are cancelled or
repriced shall continue to be counted in determining such maximum aggregate number of shares of Common Stock that may be granted to any single Participant during any one calendar year. 

7.2 Maximum Dollar Amount Underlying Cash-Based Awards Granted Under the Plan to Any Single Participant. The maximum dollar
amount that may be earned by any single Participant with respect to all Awards measured in cash (whether payable in Common Stock, cash or a combination of both) during any one calendar year shall be $10,000,000. Any amount earned with respect
to which performance is measured over a period greater than one year shall be deemed to have been earned ratably over the full and partial calendar years in such period. 

 

	8.	AWARDS 

 8.1 Type of Awards. The Committee may, in its sole discretion,
grant the following Awards to Employees, Nonemployee Directors and Consultants: 
  

	 	(a)	Stock Options; 

  

	 	(b)	Stock Appreciation Rights (SARs); 

  

	 	(c)	Stock Awards; 

  

	 	(d)	Stock Units; 

  

	 	(e)	DERs; 

  

	 	(f)	Cash Awards; or 

  

	 	(g)	any other type of Award that is not inconsistent with the Plan. 

 8.2 Award Terms and
Conditions. The Committee, in its sole discretion, shall determine all of the terms and conditions of each Award, including but not limited to the following: 

(a) exercise price or purchase price, provided that the exercise price or purchase price with respect to Stock Options and SARs
shall not be less than 100% of the Fair Market Value of a Share of the Common Stock on the date of grant; 
 (b) method of
exercise; 

  
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 (c) Vesting; 

(d) term and/or expiration of the Award; 

(e) effects of termination of Participant’s employment or service; 

(f) Change in Control Vesting and other effects of a Change in Control; 

(g) qualification of a Stock Option as an ISO; 

(h) restrictive covenants; 

(i) transferability; 

(j) deferral arrangements; or 

(k) any other term or condition that is not inconsistent with the Plan. 

8.3 Performance Measures. The Committee may use the following performance measures (either individually or in any
combination) to set performance goals with respect to the grant or Vesting of an Award. The performance for an Award shall be determined by the Committee in writing, shall be measured for achievement or satisfaction during the performance
period or period of restriction in which the Committee established to satisfy or achieve the prescribed performance, and may be absolute in its terms or measured against or in relationship to other companies comparably, similarly or otherwise
situated or other external or internal measure and may be based on or adjusted for any other objective goals, events or occurrences established by the Committee, provided that such criteria and objectives relate to one or more of the following:
total stockholder return, earnings, earnings per share, net income, revenues, expenses, market share, return on assets, return on equity, assets under management, sales, distribution, redemption rates, investment performance of assets under
management, Fair Market Value of a Share of the Common Stock, achievement of balance sheet or income statement objectives, or other financial, accounting or quantitative objective established by the Committee. Performance criteria and objectives may
include or exclude extraordinary charges, losses from discontinued operations, restatements and accounting changes, and other unplanned special charges such as restructuring expenses, acquisitions, acquisition expenses, including expenses related to
goodwill and other intangible assets, stock offerings and stock repurchases. Such performance measures may be particular to a line of business, Subsidiary or other unit or the Company generally and may, but need not be, based upon a change or an
increase or positive result. In interpreting Plan provisions applicable to performance measures and to performance-based Awards to Participants who are covered employees, it is the intent of the Plan to conform with the standards of Code
Section 162(m) and the Treasury Regulations thereunder. The Committee, in establishing performance measures applicable to such performance-based Awards, and in interpreting the Plan, shall be guided by such standards, including, but not
limited to, providing that the performance-based Award shall be paid, Vested or otherwise delivered solely as a function of attainment of objective performance criteria and objectives based on one or more of the specific criteria and objectives set
forth in this Section 8.3 established by the Committee not later than 90 days after the performance period or period of  

  
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restriction applicable to the Award has commenced (or, if such period of service is less than one year, not later than the date on which 25% of such period has elapsed). Prior to the payment of
any compensation based on achievement of performance measures to any such covered employee, the Committee must certify in writing the extent to which the applicable performance criteria and objectives were, in fact, achieved and the amounts to be
paid, Vested or delivered as a result thereof, provided the Committee may reduce, but not increase, such amount. 
  

	9.	CHANGE IN CONTROL 

 9.1 Stock-Based Awards. Notwithstanding any other
provisions of the Plan, and except as otherwise provided in the Award Agreement, in the event of a Change in Control, all Stock-based Awards granted under this Plan shall immediately Vest 100% in each Participant, including Incentive Stock Options,
Nonqualified Stock Options, Stock Appreciation Rights, and Stock Unit. 
 9.2 Performance-Based Awards. Notwithstanding
any other provisions of the Plan, and except as otherwise provided in the Award Agreement, in the event of a Change in Control, all Awards granted under this Plan which are subject to performance goals shall be immediately paid out, including
performance units and performance shares. The amount of the payout shall be based on the higher of: (i) the extent, as determined by the Committee, to which performance goals established for the performance period then in progress have been
met, through and including the effective date of the Change in Control, or (ii) 100% of the value on the date of grant of the performance units or number of performance shares. 

 

	10.	AMENDMENT AND TERMINATION 

 10.1 Termination of Plan. The Board may suspend
or terminate the Plan at any time with or without prior notice. 
 10.2 Amendment of Plan. Subject to Stockholder
approval, if any, required by Section 3.2, the Board may amend the Plan at any time with or without prior notice. 
 10.3
Amendment or Cancellation of Award Agreements. The Committee may amend or modify any Award Agreement at any time in any manner to the extent that the Committee would have had the authority under the Plan initially to make such Award as so
amended or modified. In addition, and subject to Stockholder approval in accordance with Sections 3.2 and 3.3 above, Awards may be granted to an Employee, Nonemployee Director or Consultant in substitution and exchange for, and in cancellation
of, any Awards previously granted to such Employee, Nonemployee Director or Consultant under the Plan, or any award previously granted to such Employee, Nonemployee Director or Consultant under any other present or future plan of the Company or any
present or future plan of an entity which (i) is purchased by the Company, (ii) purchases the Company, or (iii) merges into or with the Company. 

10.4 Effect on Outstanding Awards. No termination or amendment of the Plan pursuant to Section 10.1 or 10.2 above, or
amendment or modification of an Award Agreement pursuant to Section 10.3 above, shall materially adversely alter or impair any outstanding Award without the consent of the Participant affected thereby. 

  
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	11.	MISCELLANEOUS 

 11.1 Other Provisions. Awards granted under the Plan may
also be subject to such other provisions (whether or not applicable to the Award granted to any other Participant) as the Committee determines on the date of grant to be appropriate, including, without limitation, provisions requiring entry
into or compliance with confidentiality, non-competition or other restrictive covenants, assistance in financing the acquisition of shares pursuant to an Award, for the forfeiture of, or restrictions on resale or other disposition of, Common Stock
acquired hereunder, for deferral of receipt of shares of Common Stock or of cash payments under any applicable Company plan, or to comply with federal and state securities laws, or understandings or conditions as to the Participant’s employment
in addition to those specifically provided for under the Plan. 
 11.2 Transferability. Each Award granted under the
Plan to a Participant shall not be transferable otherwise than by will or the laws of descent and distribution, and Stock Options and SARs shall be exercisable, during the Participant’s lifetime, only by the Participant. In the event of the
death of a Participant, each Stock Option or SAR theretofore granted to him or her shall be exercisable during such period after his or her death as the Committee shall, in its sole discretion, set forth in the Award Agreement on the date of grant
and then only by the executor or administrator of the estate of the deceased Participant or the person or persons to whom the deceased Participant’s rights under the Stock Option or SAR shall pass by will or the laws of descent and
distribution. Notwithstanding the foregoing, the Committee, in its sole discretion, may permit the transferability of a Stock Option (other than an ISO) by a Participant, including, or limited to, transfers, solely to members of the
Participant’s immediate family or trusts or family partnerships or other similar entities for the benefit of such persons, and subject to such terms, conditions, restrictions and/or limitations, if any, as the Committee may establish and
include in the Award Agreement. 
 11.3 Stock Ownership Requirement. The Committee may in its sole discretion require
that Participants own or hold a certain number of shares of Common Stock or percentage of outstanding shares of Common Stock throughout their employment or service and may condition receipt of Awards or the receipt or transferability of shares of
Common Stock under this Plan on compliance with such provisions. 
 11.4 Listing of Shares and Related Matters. If at
any time the Committee shall determine that the listing, registration or qualification of the shares of Common Stock subject to any Award on any securities exchange or under any applicable law, or the consent or approval of any governmental
regulatory authority, is necessary or desirable as a condition of, or in connection with, the granting of an Award or the issuance of shares of Common Stock thereunder, such Award may not be exercised, distributed or paid out, as the case may be, in
whole or in part, unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. 

  
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 11.5 No Right, Title, or Interest in Company Assets. Participants shall have no
right, title or interest whatsoever in or to any investments which the Company may make to aid it in meeting its obligations under the Plan. Nothing contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed
to create a trust of any kind, or a fiduciary relationship between the Company and any Participant, beneficiary, legal representative or any other person. To the extent that any person acquires a right to receive payments from the Company under the
Plan, such right shall be no greater than the right of an unsecured general creditor of the Company. All payments to be made hereunder shall be paid from the general funds of the Company, and no special or separate fund shall be established and no
segregation of assets shall be made to assure payment of such amounts except as expressly set forth in the Plan. The Plan is not intended to be subject to the Employee Retirement Income Security Act of 1974, as amended. 

11.6 No Right to Continued Employment or Service or to Grants. The Participant’s rights, if any, to continue to serve the
Company or a Subsidiary as a director, officer, employee, independent contractor or otherwise shall not be enlarged or otherwise affected by his or her designation as a Participant under the Plan, and the Company or the applicable Subsidiary
reserves the right to terminate the employment of any Employee or the services of any Independent Contractor at any time. The adoption of the Plan shall not be deemed to give any Employee, Nonemployee Director, Consultant or any other individual any
right to be selected as a Participant or to be granted an Award. 
 11.7 Governing Law. The Plan, all Awards granted
hereunder and all actions taken in connection herewith shall be governed by and construed in accordance with the laws of the State of Delaware without reference to principles of conflict of laws, except as superseded by applicable federal law.

 11.8 Other Benefits. No Award granted under the Plan shall be considered compensation for purposes of computing
benefits under any retirement plan of the Company or any Subsidiary nor affect any benefits or compensation under any other benefit or compensation plan of the Company or any Subsidiary now or subsequently in effect, unless such retirement or other
plan expressly provides otherwise. 
 11.9 No Fractional Shares. No fractional shares of Common Stock shall be issued
or delivered pursuant to the Plan or any Award. The Committee shall determine whether cash, Common Stock or other property shall be issued or paid in lieu of fractional shares or whether such fractional shares or any rights thereto shall be
forfeited or otherwise eliminated. 
 11.10 Stockholder Approved Option Exchange Offers. Notwithstanding any other
provision of the Plan to the contrary, upon approval of the Company’s stockholders, the Committee may provide for, and the Company may implement, an option exchange offer, pursuant to which certain outstanding options could, at the election of
the person holding such option, be tendered to the Company for cancellation in exchange for the issuance of a lesser amount of options with a lower exercise price, provided that such option exchange offer is commenced within one year of the date of
such stockholder approval. 

  
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 11.11 Code Section 409A. This Plan is intended to comply and shall be
administered in a manner that is intended to comply with Code Section 409A and shall be construed and interpreted in accordance with such intent. To the extent that an Award or the payment, settlement or deferral thereof is subject to Code
Section 409A, the Award shall be granted, paid, settled or deferred in a manner that will comply with Section 409A, including regulations or other guidance issued with respect thereto (collectively, “Section 409A”), except as
otherwise determined by the Committee. Any provision of this Plan that would cause the grant of an Award or the payment, settlement or deferral thereof to fail to satisfy Section 409A shall be amended to comply with Section 409A on a
timely basis, which may be made on a retroactive basis, in accordance with regulations and other guidance issued under Section 409A. In the case of amounts not intended to be deferrals of compensation subject to Section 409A, payment or
settlement of amounts under such Awards shall occur not later than March 15 of the year following the year in which the Participant has a legally-binding right to payment or settlement. In the case of amounts intended to be deferrals of
compensation subject to Section 409A, the initial deferral election shall be made and become irrevocable not later than December 31 of the year immediately preceding the year in which the Participant first performs services related to such
compensation, provided that the timing of such initial deferral election may be later as provided in Section 409A with respect to initial participation in the Plan and for “performance-based compensation” as defined under
Section 409A. If an amount payable under an Award as a result of the separation from service (other than due to death) occurring while the Participant is a “specified employee” constitutes a deferral of compensation subject to
Section 409A, then payment of such amount shall not occur until six (6) months and one day after the date of the Participant’s “separation from service” except as permitted under Section 409A.  

 

	12.	DEFINITIONS 

 The following terms shall have the following meanings unless the context
indicates otherwise: 
 12.1 “Award” shall mean an award granted by the Committee under the Plan in accordance with
Section 8 hereof. 
 12.2 “Award Agreement” shall mean the agreement or other writing (which may be
framed as a plan or program and may be in electronic format) that establishes the terms, conditions, restrictions and/or limitations applicable to an Award in addition to those established by the Plan and by the Committee’s exercise of its
administrative powers. 
 12.3 “Board” shall mean the Board of Directors of the Company. 

12.4 “Calamos Family” shall mean John P. Calamos, Sr., or John P. Calamos, Jr., and their respective spouses and
lineal descendants, and each corporation, trust or other entity which is directly or indirectly controlled by any of the foregoing individuals. 

12.5 “Cash Award” shall mean the grant by the Committee to a Participant of an Award of cash in accordance with
Section 8 hereof. 

  
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 12.6 “Change in Control” shall be deemed to have occurred in the event that any
person, entity or group shall become the beneficial owner of such number of shares of Common Stock, and/or any other class of stock of the Company then outstanding that is entitled to vote in the election of directors (or is convertible into shares
so entitled to vote) as together possess more than 50% of the voting power of all of the then outstanding shares of all such classes of voting stock of the Company so entitled to vote. For purposes of the preceding sentence, “person,
entity or group” shall not include (i) any employee benefit plan of the Company, or (ii) the Calamos Family; and for purposes of this Section 12.6, “group” shall mean persons who act in concert as described in
Section 14(d)(2) of the Exchange Act. 
 12.7 “Code” shall mean the Internal Revenue Code of 1986, as
amended from time to time. 
 12.8 “Committee” shall mean (i) the Board or (ii) a committee, or a
subcommittee of a committee, of the Board appointed by the Board from among its members. Unless the Board determines otherwise, and such determination is reduced to a writing articulating the reasons for such determination, the Committee shall be
comprised solely of not less than two (2) members, each of whom shall qualify as: 
 (a) a “non-employee
director” within the meaning of Rule 16b-3(b)(3) (or any successor rule) under the Exchange Act, and 
 (b) an
“outside director” within the meaning of Code Section 162(m) and the Treasury Regulations thereunder, and 

(c) an “independent director” as such term is defined or used by the rules of the Nasdaq Stock Market or such other
exchange or system on which the Company’s Common Stock is listed. 
 12.9 “Common Stock” shall mean the
Class A common stock, $.01 par value per share, of the Company. 
 12.10 “Company” shall mean Calamos
Asset Management, Inc., a Delaware corporation. 
 12.11 “Consultant” shall mean a person (other than a
person who is an Employee or a Nonemployee Director) or an entity that renders services to the Company. 
 12.12
“DER” shall mean a dividend equivalent right where the Participant may receive an amount, payable in cash or Common Stock or a combination of both, equal to the dividend actually paid with respect to one (1) share of Common
Stock; provided, however, that no payment shall be made under a DER associated with a performance-based Award prior to the time such performance-based Award shall Vest. 

12.13 “Effective Date” shall mean June 3, 2014, the date on which this amended Plan is approved by the stockholders of
the Company. 
 12.14 “Employee” shall mean an employee of the Company or any Subsidiary. 

  
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 12.15 “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended from time to time, including applicable regulations thereunder. 
 12.16 “Fair Market Value of a Share of the
Common Stock” on any date shall mean the fair market value as determined as follows: (i) at such time as the shares are traded through the Nasdaq Stock Market or a national stock exchange (an “Exchange”), Fair Market Value
shall, except as otherwise determined by the Committee, be equal to the closing price on such date for sales made and reported through the Exchange on which the shares are then listed and which constitutes the principal market for the shares or, if
no sales of shares shall have been so reported with respect to that date, on the next preceding day with respect to which sales were reported; or (ii) at such time as the shares are not so traded through an Exchange, Fair Market Value shall be
equal to such amount as the Committee, in its sole discretion, shall determine. 
 12.17 “ISO” shall mean an
“incentive stock option” as such term is used in Code Section 422. 
 12.18 “Nonemployee
Director” shall mean a member of the Board or of the board of directors of any Subsidiary who is not an Employee. 

12.19 “Nonqualified Stock Option” shall mean a Stock Option that does not qualify as an ISO.  

12.20 “Participant” shall mean any Employee, Nonemployee Director or Consultant to whom an Award has been granted by
the Committee under the Plan. 
 12.21 “Plan” shall mean the Calamos Asset Management, Inc. Incentive
Compensation Plan. 
 12.22 “SAR” or “Stock Appreciation Right” shall mean the grant by the
Committee to a Participant of a stock appreciation right as described in Section 8 hereof, payable in cash or Common Stock or a combination of both, where the measure of compensation is based on the difference (if any) between the Fair
Market Value of a Share of the Common Stock on the date of exercise and the exercise price of such SAR. 
 12.23
“Stock Award” shall mean an Award of Common Stock granted by the Committee to a Participant in accordance with Section 8 hereof. 

12.24 “Stock Option” shall mean an option to purchase Common Stock granted by the Committee to a Participant in
accordance with Section 8 hereof. 
 12.25 “Stock Unit” shall mean a right to receive a share of Common
Stock granted by the Committee to a Participant in accordance with Section 8 hereof. 
 12.26
“Subsidiary” shall mean each of (i) Calamos Holdings LLC, and (ii) any corporation of which the Company or Calamos Holdings LLC directly or indirectly owns more than 50% of the Voting Stock or any other business entity in
which the Company or Calamos Holdings LLC directly or indirectly has an ownership interest of more than 50%. 

  
 13 

 12.27 “Treasury Regulations” shall mean the regulations promulgated under
the Code by the United States Department of the Treasury, as amended from time to time. 
 12.28 “Vest” or
“Vesting” or “Vested” shall mean: 
 (a) with respect to Stock Options and SARs,
when the Stock Option or SAR (or a portion of such Stock Option or SAR) first becomes exercisable and remains exercisable subject to the terms and conditions of such Stock Option or SAR, and when the Participant has an unrestricted right, title
and interest to receive the compensation (if any) attributable to such Stock Option or SAR (or a portion of such Stock Option or SAR) or to otherwise enjoy the benefits underlying such Stock Option or SAR; or 

(b) with respect to Awards other than Stock Options and SARs, when the Participant has: 

(i) an unrestricted right, title and interest to receive the compensation (whether payable in cash or Common Stock or a
combination of both) attributable to an Award (or a portion of such Award) or to otherwise enjoy the benefits underlying such Award; and 

(ii) a right to transfer an Award subject to no Company-imposed restrictions or limitations. 

12.29 “Voting Stock” shall mean the capital stock of any class or classes having general voting power under ordinary
circumstances, in the absence of contingencies, to elect the directors of a corporation. 

  
 14EX-4.2

 Exhibit 4.2 

THE TJX COMPANIES, INC., 

as Issuer 
 and 

U.S. Bank National Association, 

as Trustee 
 FOURTH
SUPPLEMENTAL INDENTURE 
 Dated as of June 5, 2014 

to the Indenture dated as of April 2, 2009 

2.750% Notes due 2021 

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
	
	ARTICLE 1	  
	APPLICATION OF FOURTH SUPPLEMENTAL INDENTURE	  
			
	Section 1.01.	    	 Application of Fourth Supplemental Indenture
	  	 	2	  
	
	ARTICLE 2	  
	DEFINITIONS	  
			
	Section 2.01.	    	 Certain Terms Defined in the Indenture
	  	 	2	  
	Section 2.02.	    	 Definitions
	  	 	2	  
	
	ARTICLE 3	  
	FORM AND TERMS OF THE NOTES	  
			
	Section 3.01.	    	 Form and Dating
	  	 	7	  
	Section 3.02.	    	 Terms of the Notes
	  	 	8	  
	Section 3.03.	    	 Optional Redemption
	  	 	9	  
	Section 3.04.	    	 Repurchase of Notes upon a Change of Control
	  	 	10	  
	Section 3.05.	    	 Certain Interest Payments
	  	 	11	  
	
	ARTICLE 4	  
	CERTAIN COVENANTS	  
			
	Section 4.01.	    	 Restrictions on Secured Debt
	  	 	12	  
	Section 4.02.	    	 Restrictions on Sale and Leaseback Transactions
	  	 	13	  
	Section 4.03.	    	 Exempted Debt
	  	 	14	  
	Section 4.04.	    	 Limitations Upon Permitting Restricted Subsidiaries to become Non-Restricted Subsidiaries and Non-Restricted Subsidiaries to become
Restricted Subsidiaries
	  	 	14	  
	
	ARTICLE 5	  
			
	Section 5.01.	    	 Events of Default
	  	 	15	  
	
	ARTICLE 6	  
	MISCELLANEOUS	  
			
	Section 6.01.	    	 Trust Indenture Act Controls
	  	 	16	  
	Section 6.02.	    	 New York Law to Govern
	  	 	16	  
	Section 6.03.	    	 Counterparts
	  	 	16	  
	Section 6.04.	    	 Severability
	  	 	16	  
	Section 6.05.	    	 Ratification
	  	 	16	  
	Section 6.06.	    	 Effectiveness
	  	 	17	  
	Section 6.07.	    	 Trustee Makes No Representation
	  	 	17	  

  
 i 

							
	 EXHIBIT A – Form of 2.750% Note due 2021
	  	 	A-1	  

  
 ii 

 FOURTH SUPPLEMENTAL INDENTURE 

FOURTH SUPPLEMENTAL INDENTURE (this “Fourth Supplemental Indenture”), dated as of June 5, 2014, between The TJX Companies,
Inc., a Delaware corporation (the “Company”), and U.S. Bank National Association, as Trustee (the “Trustee”). 

RECITALS OF THE COMPANY 

WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as of April 2, 2009 (the “Base
Indenture,” and together with this Fourth Supplemental Indenture, the “Indenture”), to provide for the issuance by the Company from time to time of Securities to be issued in one or more series as provided in the Indenture; 

WHEREAS, Section 9.1 of the Base Indenture provides, among other things, that the Company and the Trustee may enter into
indentures supplemental to the Base Indenture, without the consent of any Holders of Securities, to establish the form of any Security, as permitted by Section 2.1 of the Base Indenture, and to provide for the issuance of the Notes (as defined
below), as permitted by Section 3.1 of the Base Indenture, and to set forth the terms thereof; 
 WHEREAS, the Company desires
to execute this Fourth Supplemental Indenture pursuant to Section 2.1 of the Base Indenture to establish the form, and pursuant to Section 3.1 of the Base Indenture to provide for the issuance, of a series of its senior notes designated as
its 2.750% Notes due 2021 (the “Notes”), in an initial aggregate principal amount of $750,000,000. The Notes are a series of securities as referred to in Section 3.1 of the Base Indenture. 

WHEREAS, the Company has requested that the Trustee execute and deliver this Fourth Supplemental Indenture; 

WHEREAS, all things necessary have been done by the Company to make this Fourth Supplemental Indenture, when executed and delivered by
the Company, a valid supplement to the Indenture; and 
 WHEREAS, all things necessary have been done by the Company to make the
Notes, when executed by the Company and authenticated and delivered in accordance with the provisions of the Indenture, the valid obligations of the Company; 

NOW, THEREFORE, in consideration of the premises stated herein and the purchase of the Notes by the Holders thereof, the Company and
the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective Holders from time to time of the Notes as follows: 

  
 1 

 ARTICLE 1 

APPLICATION OF FOURTH SUPPLEMENTAL INDENTURE 

Section 1.01. Application of Fourth Supplemental Indenture. 

Notwithstanding any other provision of this Fourth Supplemental Indenture, all provisions of this Fourth Supplemental Indenture are expressly and solely for
the benefit of the Holders of the Notes and any such provisions shall not be deemed to apply to any other securities issued under the Indenture and shall not be deemed to amend, modify or supplement the Base Indenture for any purpose other than with
respect to the Notes. Unless otherwise expressly specified, references in this Fourth Supplemental Indenture to specific Article numbers or Section numbers refer to Articles and Sections contained in this Fourth Supplemental Indenture as they amend
or supplement the Base Indenture, and not the Base Indenture or any other document. All Initial Notes and Additional Notes, if any, shall be treated as a single class for all purposes of this Indenture, including waivers, amendments, redemptions and
offers to purchase. 
 ARTICLE 2 

DEFINITIONS 

Section 2.01. Certain Terms Defined in the Indenture. 

For purposes of this Fourth Supplemental Indenture, all capitalized terms used but not defined herein shall have the meanings ascribed to such
terms in the Base Indenture, as amended hereby. 
 Section 2.02. Definitions. 

a) For the benefit of the Holders of the Notes, Section 1.1 of the Base Indenture shall be amended by adding the following new
definitions: 
 “Additional Notes” has the meaning specified in Section 3.02(b) hereto. 

“Attributable Debt” in respect of a Sale and Leaseback Transaction means, at the time of determination, the present
value (discounted at the imputed rate of interest of such transaction determined in accordance with U.S. generally accepted accounting principles) of the obligation of the lessee for net rental payments during the remaining term of the lease
included in such arrangement (including any period for which such lease has been extended or may, at the option of the lessor, be extended). The term “net rental payments” under any lease for any period shall mean the sum of the rental and
other payments required to be paid in such period by the lessee thereunder, not including any amounts required to be paid by such lessee (whether or not designated as rental or additional rental) on account of maintenance and repairs, insurance,
taxes, assessments, water rates or similar charges required to be paid by such lessee thereunder or any amounts required to be paid by such lessee thereunder contingent upon the amount of sales, maintenance and repairs, insurance, taxes,
assessments, water rates or similar charges. 
 “Capitalized Lease Obligations” means obligations created pursuant
to leases that are required to be shown on the liability side of a balance sheet in accordance with FASB Statement No. 13, “Accounting for Leases,” as amended and interpreted, or any successor or comparable accounting standard. 

  
 2 

 “Change of Control” means the occurrence of any of the following: (1) the direct
or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the Company’s assets and the assets of its
Subsidiaries, taken as a whole, to any person, other than the Company or one of its Subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person (other
than the Company or one of its Wholly-Owned Subsidiaries) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock or other
Voting Stock into which the Company’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; or (3) the adoption of a plan relating to the Company’s liquidation or
dissolution. 
 The term “person”, as used in this definition, has the meaning given thereto in Section 13(d)(3) of the
Exchange Act. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event. 

“Comparable Treasury Issue” means the United States Treasury security or securities selected by an Independent Investment Banker as
having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of a comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury Price” means, with respect to any
Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (B) if the Company obtains fewer than five of
such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Consolidated Net Tangible Assets” means the
total amount of assets (less depreciation and valuation reserves and other reserves and items deductible from the gross book value of specific asset accounts under U.S. generally accepted accounting principles) that under U.S. generally accepted
accounting principles would be included on the Company’s and its Restricted Subsidiaries’ consolidated balance sheet, after deducting therefrom (i) amounts that would, in conformity with U.S. generally accepted accounting principles,
be included as current liabilities on such consolidated balance sheet (other than (x) the current portion of any Funded Debt or Capitalized Lease Obligations, (y) the current portion of accrued interest and (z) the current portion of
current and deferred income taxes), (ii) all goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other like intangibles (other than leasehold costs), which in each such case would be so included on such balance
sheet, and (iii) all amounts which would be so included on such balance sheet in respect of Investments (less applicable reserves) in Non-Restricted Subsidiaries in excess of the amount of such Investments as at May 3, 2014. 

  
 3 

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

“Funded Debt” of any person means Indebtedness, whether incurred, assumed or guaranteed, maturing by its terms more
than one year from the date of creation thereof, or that is extendable or renewable at the sole option of the obligor so that it may become payable more than one year from the date of creation thereof; provided, however, that Funded Debt shall not
include (i) obligations created pursuant to leases, (ii) any Indebtedness or portion thereof maturing by its terms within one year from the time of any computation of the amount of outstanding Funded Debt unless such Indebtedness shall be
extendable or renewable at the sole option of the obligor in such manner that it may become payable more than one year from such time, or (iii) any Indebtedness for the payment or redemption of which money in the necessary amount shall have
been deposited in trust either at or before the maturity date thereof. 
 “Global Note” means the Note in the form of Global
Securities issued to the Depositary or its nominee, substantially in the form of Exhibit A. 
 “Independent Investment Banker”
means one of the Reference Treasury Dealers appointed by the Company. 
 “Initial Notes” has the meaning specified in
Section 3.02(b) hereto. 
 “Investment” means and includes any investment in stock, evidences of indebtedness,
loans or advances, however made or acquired, but shall not include the Company’s or any Restricted Subsidiary’s accounts receivable arising from transactions in the ordinary course of business, or any evidences of indebtedness, loans or
advances made in connection with the sale to any Subsidiary of the Company’s or any Restricted Subsidiary’s accounts receivable arising from transactions in the Company’s or any Restricted Subsidiary’s ordinary course of
business. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and
BBB– (or the equivalent) by S&P, and the equivalent investment grade credit rating from any replacement Rating Agency or Rating Agencies selected by the Company. 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Mortgage” and “Mortgages” have the meaning specified in Section 4.01(a) hereto. 

“Net Proceeds” means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in
respect of any Sale and Leaseback Transaction, net of the direct costs relating to such Sale and Leaseback Transaction, including (i) legal, accounting and investment banking fees, and brokerage and sales commissions, (ii) any relocation
expenses incurred as a result thereof, (iii) taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and any tax sharing arrangements), (iv) amounts required to be applied to the
repayment of principal, premium, if any, and interest on 

  
 4 

 
Indebtedness secured by the Operating Property disposed of and required to be paid as a result of such transaction and (v) any deduction of appropriate amounts to be provided by the Company
or any Restricted Subsidiary as a reserve in accordance with U.S. generally accepted accounting principles against any liabilities associated with the Operating Property disposed of in such transaction and retained by the Company or any Restricted
Subsidiary after such sale or other disposition thereof. 
 “Non-Restricted Subsidiary” means any Subsidiary other than a
Restricted Subsidiary. 
 “Notes” has the meaning specified in the recitals hereto. 

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

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate
the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange
Act selected by the Company as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 
 “Rating
Event” means the rating on the Notes is lowered by both Rating Agencies and the Notes are rated below an Investment Grade Rating by both Rating Agencies, in any case on any day during the period (which period will be extended so long as the
rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) commencing upon the first public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change
of Control and ending 60 days following the consummation of the Change of Control; provided that a Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular
Change of Control (and thus shall not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event hereunder) if any of the Rating Agencies making the reduction in rating to which this definition would otherwise
apply does not announce or publicly confirm or inform the Trustee in writing at its request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable
Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Rating Event). 

  
 5 

 “Reference Treasury Dealer” means each of Deutsche Bank Securities Inc., Merrill Lynch,
Pierce, Fenner & Smith Incorporated and HSBC Securities (USA) Inc. or their affiliates that are primary U.S. Government securities dealers, one primary U.S. Government Securities dealer in the City of New York selected by Wells Fargo
Securities, LLC and two other primary U.S. Government securities dealers in the City of New York selected by the Company, and their respective successors; provided, however, that if any of the foregoing or their affiliates shall cease to be a
primary U.S. Government securities dealer in The City of New York, the Company shall substitute therefor another such primary U.S. Government securities dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average,
as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. New York
time on the third Business Day preceding such Redemption Date. 
 “Restricted Subsidiary” means any Subsidiary so designated by
the Company’s Board of Directors or the Company’s duly authorized Officers in accordance with this Fourth Supplemental Indenture provided that (a) the Company’s Board of Directors or its duly authorized Officers may, subject to
certain limitations, designate any Non-Restricted Subsidiary as a Restricted Subsidiary and any Restricted Subsidiary as a Non-Restricted Subsidiary and (b) any Subsidiary of which the majority of the voting stock is owned directly or
indirectly by one or more Non-Restricted Subsidiaries shall be a Non-Restricted Subsidiary. 
 “Sale and Leaseback Transaction”
has the meaning specified in Section 4.02 hereto. 
 “Senior Funded Debt” means all of the Company’s
Funded Debt (except Funded Debt, the payment of which is expressly subordinated to the payment of the Notes). 
 “S&P” means
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its successors. 
 “Treasury
Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity or interpolated maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Voting Stock” means, with respect to any specified “person” (as that term is used in Section 13(d)(3) of the
Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

“Wholly Owned Restricted Subsidiary” means any Restricted Subsidiary, all of the capital stock of which, other than directors’
qualifying shares and shares required to be issued to foreign nationals under applicable law, is owned by the Company and its other Wholly Owned Restricted Subsidiaries. 

  
 6 

 b) For the benefit of the Holders of the Notes, the definition of “Indebtedness” in
Section 1.1 of the Base Indenture shall be amended by deleting the definition in its entirety and replacing the definition with the following: 

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

(c) For the benefit of the Holders of the Notes, the definition of “Subsidiary” in Section 1.1 of the Base Indenture shall be
amended by deleting the definition in its entirety and replacing the definition with the following: 
 “Subsidiary” means with
respect to any person (i) any corporation, association, or other business entity (other than a partnership, joint venture, limited liability company or similar entity) of which more than 50.0% of the total voting power of shares of capital
stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such person or one or more of the
other Subsidiaries of that person or a combination thereof; and (ii) any partnership, joint venture, limited liability company or similar entity of which (x) more than 50.0% of the capital accounts, distribution rights, total equity and
voting interests or general or limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of that person or a combination thereof whether in the form of
membership, general, special or limited partnership or otherwise, and (y) such person or any Subsidiary of such person is a controlling general partner or otherwise controls such entity. 

ARTICLE 3 
 FORM AND
TERMS OF THE NOTES 
 Section 3.01. Form and Dating. 

a) The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A attached hereto.
The Notes shall be executed on behalf of the Company by an Officer of the Company and attested by its Secretary or one of its Assistant Secretaries. The Notes may have notations, legends or endorsements required by law, stock exchange rules or
usage. Each Note shall be dated the date of its authentication. The Notes and any beneficial interest in the Notes shall be in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

  
 7 

 b) The terms and notations contained in the Notes shall constitute, and are hereby expressly
made, a part of the Indenture, and the Company and the Trustee, by their execution and delivery of this Fourth Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 

c) Global Note. The Notes shall be issued initially in the form of fully registered Global Securities (the “Global Note”),
which shall be deposited on behalf of the purchasers of the Notes represented thereby with The Depository Trust Company, New York, New York (the “Depositary”) and registered in the name of Cede & Co., the Depositary’s
nominee, duly executed by the Company, authenticated by the Trustee. 
 d) Book-Entry Provisions. This Section 3.01(d) shall
apply only to the Global Note deposited with or on behalf of the Depositary. The Company shall execute and the Trustee shall, in accordance with this Section 3.01(d), authenticate and deliver the Global Note that shall be registered in the name
of the Depositary or the nominee of the Depositary and shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instructions. 

e) Paying Agent. The Company initially appoints the Trustee as Paying Agent for the payment of the principal of (and premium, if any)
and interest on the Notes and the office of the Trustee at U.S. Bank National Association, 1 Federal Street, 10th Floor, Boston, Massachusetts 02110, be and hereby is, designated as the Place of
Payment where the Notes may be presented for payment. 
 Section 3.02. Terms of the Notes. The following terms relating to the
Notes are hereby established: 
 a) Title. The Notes shall constitute a series of Securities having the title “2.750% Notes due
2021”. 
 b) Principal Amount. The aggregate principal amount of the Notes that may be initially authenticated and delivered
under the Indenture (the “Initial Notes”) shall be $750,000,000 (except for Notes authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of, other Notes pursuant to Sections 3.4, 3.5, 3.6, 9.6 or 11.7
of the Indenture). The Company may from time to time, without the consent of the Holders of Notes, issue additional Notes (in any such case “Additional Notes”) having the same ranking and the same interest rate, Maturity and other terms as
the Initial Notes. Any Additional Notes and the Initial Notes shall constitute a single series under the Indenture and all references to the Notes shall include the Initial Notes and any Additional Notes unless the context otherwise requires. 

c) Maturity Date. The entire outstanding principal amount of the Notes shall be payable on June 15, 2021. 

d) Interest Rate. The rate at which the Notes shall bear interest shall be 2.750% per annum; the date from which interest shall
accrue on the Notes shall be June 5, 2014, or the most recent Interest Payment Date to which interest has been paid or provided for; the Interest Payment Dates for the Notes shall be June 15 and December 15 of each year, beginning
December 15, 2014; the interest so payable, and punctually paid or duly provided for, on any Interest Payment Date, will be paid, in immediately available funds, to the Persons in whose 

  
 8 

 
names the Note (or predecessor Note) is registered (which shall initially be the Depositary) at the close of business on the Regular Record Date for such interest, which shall be the June 1
or December 1, as the case may be, preceding such Interest Payment Date. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. For so long as the Notes are
represented in global form by one or more Global Securities, all payments of principal (and premium, if any) and interest shall be made by wire transfer of immediately available funds to the Depositary or its nominee, as the case may be, as the
registered owner of the Global Security representing such Notes. In the event that definitive Notes shall have been issued, all payments of principal (and premium, if any) and interest shall be made by wire transfer of immediately available funds to
the accounts of the registered Holders thereof; provided, that the Company may elect to make such payments at the office of the Paying Agent in The City of Boston, Massachusetts; and provided further, that the Company may at its
option pay interest by check to the registered address of each Holder of a definitive Note. 
 e) Currency. The currency of
denomination of the Notes is United States Dollars. Payment of principal of and interest and premium, if any, on the Notes shall be made in United States Dollars. 

f) Sinking Fund. The Notes are not subject to any sinking fund. 

Section 3.03. Optional Redemption. 

a) The provisions of Article 11 of the Base Indenture, as supplemented by the provisions of this Fourth Supplemental Indenture, shall
apply to the Notes. 
 b) For the benefit of the Holders of the Notes, Section 11.2 of the Base Indenture shall be amended by deleting
the section in its entirety and replacing the section with the following: 
 Section 11.2. Election to Redeem; Notice to
Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by a Board Resolution. In case of any
redemption at the election of the Company of less than all the Securities of like tenor of any series, the Company shall, at least 15 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the
Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed. Any such notice may be cancelled at any time prior to notice of such redemption being mailed to any Holder and shall
thereby be void and of no effect. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the
Trustee with an Officers’ Certificate evidencing compliance with such restriction. 

  
 9 

 c) The Notes shall be redeemable as a whole or in part, at the Company’s option at any time,
and from time to time at the following Redemption Prices: 
 (i) upon redemption prior to April 15, 2021, the Company
shall pay a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of
interest accrued and unpaid to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points, plus, in each case, accrued and
unpaid interest thereon to, but not including, the Redemption Date. Further, installments of interest on the Notes to be redeemed that are due and payable on the Interest Payment Dates falling on or prior to the Redemption Date shall be payable on
the Interest Payment Date to the registered Holders as of the close of business on the relevant Regular Record Date according to the Notes and the Indenture; and 

(ii) upon redemption on and after April 15, 2021, the Company shall pay a Redemption Price equal to 100% of the aggregate
principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon, if any, to, but not including, the Redemption Date. 

d) Notwithstanding anything to the contrary in the first sentence of Section 11.4(a) of the Base Indenture, notice of any redemption
shall be sent at least 15 days but not more than 45 days before the Redemption Date to each Holder of the Notes to be redeemed; provided that notice of redemption may be sent more than 45 days prior to the Redemption Date if the
notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of Notes. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee by lot or any other such method as
the Trustee deems to be fair and appropriate. 
 e) Unless the Company defaults in payment of the Redemption Price, on and after the
Redemption Date interest shall cease to accrue on the Notes or portions thereof called for redemption. 
 Section 3.04. Repurchase
of Notes upon a Change of Control. 
 a) If a Change of Control Triggering Event occurs with respect to the Notes, unless the Company
has exercised its option to redeem the Notes as provided in Section 3.03 hereof, the Company shall make an offer (a “Change of Control Offer”) to each Holder of the Notes to repurchase all or any part (equal to any integral multiple
of $1,000, such that any remaining portion held by such Holder is at least $2,000) of that Holder’s Notes on the terms set forth in this Section 3.04 and in the Notes. In a Change of Control Offer, the Company shall offer payment in cash
equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest, if any, on the Notes repurchased to the date of repurchase (a “Change of Control Payment”). Within 30 days following any Change of
Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice shall be sent to Holders of the Notes,
describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the applicable notice, which date shall be no earlier than 30 days and no later

  
 10 

 
than 60 days from the date such notice is sent (a “Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the Change of Control, state that the
Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or prior to the applicable Change of Control Payment Date; provided, that the expiration of the Change of Control Offer prior to consummation of such
Change of Control shall not relieve the Company of its obligation under this Section 3.04 if such Change of Control subsequently occurs. 

b) On each Change of Control Payment Date, the Company shall, to the extent lawful: 

(i) accept for payment all Notes or portions of Notes properly tendered pursuant to the applicable Change of Control Offer;

 (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of
Notes properly tendered; and 
 (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together
with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased. 
 c) The Company
shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made
by the Company and the third party purchases all Notes properly tendered and not withdrawn under its offer. In addition, the Company shall not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an
Event of Default under the Indenture, other than a default in the payment of the Change of Control Payment. 
 d) The Company shall comply
with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of
Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Offer provisions of the Notes, the Company shall comply with those securities laws and regulations and shall not be
deemed to have breached its obligations under the Change of Control Offer provisions of the Notes by virtue of any such conflict and compliance. 

Section 3.05. Certain Interest Payments 

Installments of interest that are due and payable on Notes to be repurchased or redeemed on a Change of Control Payment Date or Redemption
Date, as the case may be, between a Regular Record Date and an Interest Payment Date shall be payable on the Change of Control Payment Date or Redemption Date, as the case may be, to the registered Holders as of the close of business on the relevant
Regular Record Date according to the Notes and the Indenture. 

  
 11 

 ARTICLE 4 

CERTAIN COVENANTS 
 The
following covenants shall be applicable to the Company for so long as any of the Notes are Outstanding. Nothing in this Article will, however, affect the Company’s rights or obligations under any other provision of the Base Indenture or this
Fourth Supplemental Indenture. 
 Section 4.01. Restrictions on Secured Debt 

a) The Company shall not, and shall not permit any Restricted Subsidiary to issue, assume or guarantee any Indebtedness secured by any
mortgage, security interest, pledge, lien or other encumbrance (herein referred to as a “Mortgage” or “Mortgages”) upon any Operating Property of the Company or any Restricted Subsidiary, whether such Operating Property is now
owned or hereafter acquired, without in any such case effectively providing concurrently with the issuance, assumption or guarantee of any such Indebtedness that the Notes (together with, if the Company shall so determine, any other Indebtedness
ranking equally with the Notes other than Securities not having the benefit of this Section 4.01) shall be secured equally and ratably with such Indebtedness, except that the foregoing restrictions shall not apply to: 

(i) the giving, within 180 days after the later (a) of the acquisition or completion of construction or completion of
substantial reconstruction, renovation, remodeling, expansion or improvement (each a “substantial improvement”) of such property, and (b) the placing in operation of such property after the acquisition or completion of any such
construction or substantial improvement, of any purchase money Mortgage, or the acquiring of property not theretofore owned by the Company or such Restricted Subsidiary subject to any then existing Mortgage securing Indebtedness (whether or not
assumed) including Indebtedness incurred for reimbursement of funds previously expended for any such purpose, provided that in each case (x) such Mortgage is limited to such property, including accretions thereto and any such construction or
substantial improvement; (y) the principal amount of the Indebtedness being incurred that is secured by such Mortgage shall not exceed the cost of such acquired property, construction or substantial improvement, as the case may be; and
(z) the principal amount of the Indebtedness secured by such Mortgage, together with all other Indebtedness to persons other than the Company or a Restricted Subsidiary secured by Mortgages on such property, shall not exceed the total cost of
such property, including any such construction or substantial improvement; 
 (ii) the giving by the Company or a Restricted
Subsidiary of a Mortgage on real property that is the sole security for Indebtedness (w) incurred within three years after the latest of (1) the date of acquisition of such real property or (2) the date of completion of construction
or substantial improvement made thereon by the Company or such Restricted Subsidiary, (x) incurred for the purpose of reimbursing itself for the cost of acquisition and/or the cost of improvement of such real property, (y) the amount of
which does not exceed the aggregate cost of such real property and improvements, and (z) the holder of which shall be entitled to enforce payment of such Indebtedness solely by resorting to the security therefor, without any liability on the
part of the Company or such Restricted Subsidiary for any deficiency; 

  
 12 

 (iii) (x) any Mortgage on the Company’s or any Subsidiary’s assets
existing on the date of this Fourth Supplemental Indenture, or (y) any Mortgage on the assets of any person on the date it became a Subsidiary or is merged into or consolidated with the Company or any Subsidiary or (z) any Mortgage on the
assets of a Subsidiary that is newly designated as a Restricted Subsidiary, if such Mortgage was created while such Subsidiary was a Non-Restricted Subsidiary, and such Mortgage would have been permitted under the provisions of this paragraph if
such Subsidiary had been a Restricted Subsidiary at the time such Mortgage was created; 
 (iv) any Mortgage incurred in
connection with any refunding or extension of Indebtedness secured by a Mortgage permitted under clauses (i) to (iii) above, provided that the principal amount of the refinancing or extending Indebtedness does not exceed the principal
amount of the Indebtedness so refunded or extended and that such Mortgage applies only to the same property or assets subject to the prior permitted Mortgage and fixtures and building improvements thereon (and if the prior Mortgage was incurred
under clause (ii) above, the requirements of clause (z) thereof are satisfied); or 
 (v) any Mortgage given in
favor of the Company or any Wholly Owned Restricted Subsidiary. 
 Section 4.02. Restrictions on Sale and Leaseback Transactions

 The Company shall not, and shall not permit any Restricted Subsidiary to, enter into any arrangement with any person providing for the
leasing by the Company or any Restricted Subsidiary of any Operating Property that has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such person subsequent to the date of this Fourth Supplemental Indenture with
the intention of taking back a lease of such property (a “Sale and Leaseback Transaction”) unless the terms of such sale or transfer have been determined by the Company to be fair and arm’s length and, within 180 days after the
receipt of the proceeds of such sale or transfer, the Company or any Restricted Subsidiary (1) apply an amount equal to the Net Proceeds of such sale or transfer of such Operating Property at the time of such sale or transfer to the prepayment
or retirement (other than any mandatory prepayment or retirement) of Senior Funded Debt of the Company or Funded Debt of such Restricted Subsidiary or (2) reinvest the Net Proceeds of such sale or transfer in assets used or useful for the
Company’s and its Restricted Subsidiaries’ business. The foregoing restriction shall not apply to (i) any Sale and Leaseback Transaction for a term of not more than three years including renewals, (ii) any Sale and Leaseback
Transaction with respect to Operating Property if a binding commitment with respect thereto is entered into within three years after the date such property was acquired (as the term “acquired” is used in the definition of Operating
Property), or (iii) any Sale and Leaseback Transaction between the Company and a Restricted Subsidiary or between Restricted Subsidiaries provided that the lessor shall be the Company or a Wholly Owned Restricted Subsidiary. 

  
 13 

 Section 4.03. Exempted Debt 

Notwithstanding the restrictions on Mortgages and on Sale and Leaseback Transactions provided in Sections 4.01 and 4.02 hereof, the Company
and its Restricted Subsidiaries may create or assume Mortgages, and renew, extend or replace such Mortgages, or enter into Sale and Leaseback Transactions, provided that, immediately after giving effect thereto, the aggregate principal amount of all
Indebtedness secured by Mortgages, which would otherwise be subject to Sections 4.01 and 4.02 hereof (other than any Indebtedness secured by Mortgages permitted by clauses (i) through (v) of Section 4.01 hereof), together with all
Attributable Debt with respect to Sale and Leaseback Transactions, which would otherwise be subject to these restrictions (other than with respect to Sale and Leaseback Transactions that are permitted as provided under Section 4.02 hereof) does
not exceed 15% of Consolidated Net Tangible Assets. 
 Section 4.04. Limitations Upon Permitting Restricted Subsidiaries to become
Non-Restricted Subsidiaries and Non-Restricted Subsidiaries to become Restricted Subsidiaries 
 a) The Company shall not permit any
Restricted Subsidiary to be designated as or otherwise to become a Non-Restricted Subsidiary unless immediately after such Restricted Subsidiary becomes a Non-Restricted Subsidiary, it will not own, directly or indirectly, any capital stock of any
other Restricted Subsidiary or any Mortgage on property of any other Restricted Subsidiary. 
 b) The Company shall not permit any
Non-Restricted Subsidiary that has previously been a Restricted Subsidiary to be designated as a Restricted Subsidiary unless such Non-Restricted Subsidiary shall not, at any time after it ceased to be a Restricted Subsidiary have participated in
any sale and leaseback transaction involving any Operating Property owned by such Subsidiary, the Company or any Restricted Subsidiary (other than in a transaction permitted under Section 4.02 hereof for such Subsidiary if it had been a
Restricted Subsidiary at the time), unless the Operating Property involved in such transaction shall no longer be leased by the Company or any Restricted Subsidiary or such Subsidiary or shall be owned by the Company or a Wholly Owned Restricted
Subsidiary. 
 c) Promptly after the adoption of any Board Resolution designating a Restricted Subsidiary as a Non-Restricted Subsidiary or
a Non-Restricted Subsidiary as a Restricted Subsidiary, or the making of an election by duly authorized Officers of the Company to effect any such designation, a copy of such Board Resolution or a written statement as to such designation signed by
such Officers shall be filed with the Trustee, together with an Officers’ Certificate stating that the provisions of this Section 4.04 have been complied with in connection with such designation, and, in case of the designation of a
Restricted Subsidiary as a Non-Restricted Subsidiary, setting forth the name of each other Subsidiary (if any) that has become a Non-Restricted Subsidiary as a result of such designation. 

  
 14 

 ARTICLE 5 

EVENTS OF DEFAULT 

Section 5.01. Events of Default. 

Solely for the benefit of the Holders of the Notes, Section 5.1 of the Base Indenture is hereby deleted in its entirety and replaced with
the following: 
 “Section 5.1 Events of Default 

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

(1) default in the payment of any interest upon any Notes when it becomes due and payable, and continuance of such default for a period of 30
days; or 
 (2) default in the payment of the principal of (or premium, if any, on) any Notes at its Maturity; or 

(3) [intentionally omitted] 

(4) default in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty a
default in whose performance or whose breach is elsewhere in Section 5.1 hereof specifically dealt with or which has expressly been included in the Base Indenture solely for the benefit of a series of Securities other than the Notes in respect
of which the Event of Default is being determined), and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the
Holders of at least 25% in principal amount of the outstanding Notes a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

(5) [intentionally omitted] 

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

  
 15 

 
similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any
applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or of any
substantial part of its property, or the making by the Company of an assignment for the benefit of creditors, or the admission by the Company in writing of its inability to pay its debts generally as they become due, or the taking of corporate
action by the Company in furtherance of any such action. 
 Subject to the provisions of Section 6.1 hereof, the Trustee shall not be
deemed to have knowledge of an Event of Default hereunder (except for those described in paragraphs (1) and (2) above) unless a Responsible Officer of the Trustee shall have actual knowledge thereof or shall have received written
notice thereof.” 
 ARTICLE 6 

MISCELLANEOUS 

Section 6.01. Trust Indenture Act Controls. 

If any provision of this Fourth Supplemental Indenture limits, qualifies or conflicts with another provision which is required to be included
in this Fourth Supplemental Indenture by the TIA, the required provision shall control. If any provision of this Fourth Supplemental Indenture modifies or excludes any provision of the TIA which may be so modified or excluded, the latter provision
shall be deemed to apply to this Fourth Supplemental Indenture as so modified or to be excluded, as the case may be. 
 Section 6.02.
New York Law to Govern. 
 The Fourth Supplemental Indenture and the Notes shall be governed by and construed in accordance with the
laws of the State of New York. 
 Section 6.03. Counterparts. 

This Fourth Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original,
but all such counterparts shall together constitute but one and the same instrument. 
 Section 6.04. Severability. If any
provision of this Fourth Supplemental Indenture or the Notes shall be held to be illegal or unenforceable under applicable law, then the remaining provisions hereof shall be construed as though such invalid, illegal or unenforceable provision were
not contained therein. 
 Section 6.05. Ratification. 

The Base Indenture, as supplemented and amended by the First Supplemental Indenture, dated as of April 7, 2007, the Second Supplemental
Indenture, dated July 23, 2009, the Third Supplemental Indenture, dated as of May 2, 2013 and this Fourth Supplemental Indenture, is in all respects ratified and confirmed. The Indenture shall be read, taken and

  
 16 

 
construed as one and the same instrument. All provisions included in this Fourth Supplemental Indenture supersede any conflicting provisions included in the Base Indenture unless not permitted by
law. The Trustee accepts the trusts created by the Indenture, and agrees to perform the same upon the terms and conditions of the Indenture. 

Section 6.06. Effectiveness. 

The provisions of this Fourth Supplemental Indenture shall become effective as of the date hereof. 

Section 6.07. Trustee Makes No Representation. 

The recitals contained herein are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness
thereof. The Trustee makes no representation as to the validity or sufficiency of this Fourth Supplemental Indenture. All rights, protections, privileges, indemnities and benefits granted or afforded to the Trustee under the Indenture shall be
deemed incorporated herein by this reference and shall be deemed applicable to all actions taken, suffered or omitted by the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act under this Fourth
Supplemental Indenture. 
 [Remainder of page intentionally left blank.] 

  
 17 

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

					
	The TJX Companies, Inc.
		
	By:	 	 /s/ Scott Goldenberg

		 	Name:	 	Scott Goldenberg
		 	Title:	 	Chief Financial Officer and Senior Executive Vice President

 Attest: 
  

					
	By:	 	 /s/ Ann McCauley

		 	Name:	 	Ann McCauley
		 	Title:	 	Executive Vice President, Secretary and General Counsel

  

SIGNATURE PAGE TO SUPPLEMENTAL INDENTURE 

 
					
	U.S. Bank National Association,
	as Trustee
		
	By:	 	 /s/ Karen R. Beard

		 	Name:	 	Karen R. Beard
		 	Title:	 	Vice President

  

SIGNATURE PAGE TO SUPPLEMENTAL INDENTURE 

 EXHIBIT A 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE
INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE
OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) 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 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 TJX COMPANIES, INC. 
 2.750%
Note due 2021 
  

			
	No. [—]	  	Principal Amount
	CUSIP No. 872539AA9	  	$[—]

 The TJX Companies, Inc., a Delaware corporation (hereinafter called the “Company”, which term
includes any successor Person under the Indenture referred to below), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [—] U.S. Dollars
(U.S. $[—]) on June 5, 2021 and to pay interest thereon from June 5, 2014 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually
on June 15 and December 15 in each year (each an “Interest Payment Date”), beginning December 15, 2014 at the rate of 2.750% per annum, until the principal hereof is paid or duly made available for payment. The interest
so payable and punctually paid or duly provided for on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on
the Regular Record Date for such interest, which shall be the June 1 or December 1 (whether or not a Business Day), as the case may be, preceding such Interest Payment Date. Any such interest which is payable, but is not punctually paid or
duly provided for, on any 

  
 A-1 

 
Interest Payment Date shall forthwith cease to be payable to the Holder hereof on the relevant Regular Record Date by virtue of having been such Holder, and may be paid to the Person in whose
name this Note (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 the Notes not
less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by
such exchange, all as more fully provided in said Indenture. 
 Payment of the principal of (and premium, if any) and the interest on this
Note shall be made at the designated office of the Trustee (as defined below) at U.S. Bank National Association, 1 Federal Street, 3rd Floor, Boston, MA 02110, in such currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts; provided, however, for so long as the Notes are represented in global form by one or more Global Securities, all payments of principal (and premium, if any) and interest shall be made by
wire transfer of immediately available funds to the Depositary or its nominee, as the case may be, as the registered owner of the Global Security representing such Notes. In the event that definitive Notes shall have been issued, all payments of
principal (and premium, if any) and interest shall be made by wire transfer of immediately available funds to the accounts of the registered Holders thereof; provided, that the Company may at its option pay interest by check to the registered
address of each Holder of a definitive Note. 
 This Note is one of the duly authorized series of Securities of the Company, designated as
the Company’s “2.750% Notes due 2021”, initially limited to an aggregate principal amount of $750,000,000, all issued or to be issued under and pursuant to an Indenture (the “Base Indenture”), dated as of April 2, 2009,
between the Company and U.S. Bank National Association, as Trustee (hereinafter referred to as the “Trustee”), as supplemented by the Fourth Supplemental Indenture thereto, dated as of June 5, 2014 (the “Fourth Supplemental
Indenture”, and together with the Base Indenture, the “Indenture”). Reference is hereby made to the Indenture for a description of the respective rights, limitation of rights, obligations, duties and immunities thereunder of the
Trustee, the Company and the Holders of the Notes. 
 The Company may redeem the Notes as a whole or in part, at the Company’s option
at any time, and from time to time, at a Redemption Price (a) prior to April 15, 2021, equal to the greater of: (i) 100% of the principal amount of the Notes to be redeemed; and (ii) the sum of the present values of the remaining
scheduled payments of principal and interest thereon (exclusive of interest accrued and unpaid to the date of redemption) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the
Treasury Rate (as defined below), plus 10 basis points, plus in each case accrued and unpaid interest thereon to, but not including, the Redemption Date; or (b) on and after April 15, 2021, equal to 100% of the principal amount of such
Notes to be redeemed plus accrued and unpaid interest thereon, if any, to, but not including, the Redemption Date. Further, installments of interest on the Notes to be redeemed that are due and payable on the Interest Payment Dates falling on or
prior to a Redemption Date shall be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant Regular Record Date. 

  
 A-2 

 For purposes of the optional redemption provisions of this Note, the following terms shall be
applicable: 
 “Comparable Treasury Issue” means the United States Treasury security or securities selected by an Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues
of corporate debt securities of a comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury Price” means,
with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such of Reference Treasury Dealer Quotations, or (B) if the Company obtains
fewer than five of such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment
Banker” means one of the Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means each of
Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and HSBC Securities (USA) Inc. or their affiliates that are primary U.S. Government securities dealers, one primary U.S. Government Securities dealer in the
City of New York selected by Wells Fargo Securities, LLC and two other primary U.S. Government securities dealers in the City of New York selected by the Company, and their respective successors; provided, however, that if any of the foregoing or
their affiliates shall cease to be a primary U.S. Government securities dealer in The City of New York, the Company shall substitute therefor another such primary U.S. Government securities dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average,
as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. New York
time on the third Business Day preceding such Redemption Date. 
 “Treasury Rate” means, with respect to any Redemption Date, the
rate per annum equal to the semiannual equivalent yield to maturity or interpolated maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such Redemption Date. 
 Notice of any redemption shall be sent at least 15 days but not
more than 45 days before the Redemption Date to each Holder of Notes to be redeemed; provided that notice of redemption may be sent more than 45 days prior to a Redemption Date if the notice is issued in connection with a defeasance of the Notes or
a satisfaction and discharge of Notes. 
 If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by
the Trustee by lot or any other such method as the Trustee deems to be fair and appropriate. 

  
 A-3 

 Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date,
interest shall cease to accrue on the Notes or portions thereof called for redemption. 
 If a Change of Control Triggering Event (as
defined below) occurs with respect to the Notes, unless the Company has exercised its option to redeem the Notes as described above, the Company shall make an offer (a “Change of Control Offer”) to each Holder of the Notes to repurchase
all or any part (equal to any integral multiple of $1,000, such that any remaining portion held by such Holder is at least $2,000) of that Holder’s Notes on the terms set forth herein. In a Change of Control Offer, the Company shall offer
payment in cash equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest, if any, on the Notes repurchased to the date of repurchase (a “Change of Control Payment”). 

Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control (as defined
below), but after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice shall be sent to Holders of the Notes, describing the transaction that constitutes or may constitute the Change of Control
Triggering Event and offering to repurchase the Notes on the date specified in the applicable notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is sent (a “Change of Control Payment
Date”). The notice shall, if sent prior to the date of consummation of the Change of Control, state that the Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or prior to the applicable Change of
Control Payment Date; provided, that the expiration of the Change of Control Offer prior to consummation of such Change of Control will not relieve the Company of its obligation herein if such Change of Control subsequently occurs. 

On each Change of Control Payment Date, the Company shall, to the extent lawful: 

 

	 	(i)	accept for payment all Notes or portions of Notes properly tendered pursuant to the applicable Change of Control Offer; 

  

	 	(ii)	deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and 

 

	 	(iii)	deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased.

 The Company shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering
Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party purchases all Notes properly tendered and not withdrawn under its offer. In
addition, the Company shall not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a default in the payment of the Change of Control Payment. 

  
 A-4 

 The Company shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act of
1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control
Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Offer provisions of the Notes, the Company shall comply with those securities laws and regulations and shall not be deemed
to have breached its obligations under the Change of Control Offer provisions of the Notes by virtue of any such conflict and compliance. 

Installments of interest that are due and payable on Notes to be repurchased on a Change of Control Payment Date between a Regular Record Date
and an Interest Payment Date shall be payable on the Change of Control Payment Date to the registered Holders as of the close of business on the relevant Regular Record Date according to this Note and the Indenture. 

For purposes of the Change of Control Offer provisions of the Notes, the following terms shall be applicable: 

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

 

	 	(1)	the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the
Company’s assets and the assets of its Subsidiaries, taken as a whole, to any person, other than the Company or one of its Subsidiaries; 

  

	 	(2)	the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person (other than the Company or one of its Wholly Owned Subsidiaries) becomes the
beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock or other Voting Stock into which the Company’s Voting Stock is reclassified,
consolidated, exchanged or changed, measured by voting power rather than number of shares; or 

  

	 	(3)	the adoption of a plan relating to the Company’s liquidation or dissolution. 

 The term
“person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the Exchange Act. 
 “Change
of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event. 
 “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB– (or the equivalent) by S&P, and the equivalent investment grade credit rating from any replacement Rating Agency or Rating Agencies
selected by the Company. 
 “Moody’s” means Moody’s Investors Service, Inc. and its successors. 

  
 A-5 

 “Rating Agencies” means (1) each of Moody’s and S&P; and (2) if
either of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the
meaning of Section 3(a)(62) under the Exchange Act selected by the Company as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“Rating Event” means the rating on the Notes is lowered by both Rating Agencies and the Notes are rated below an Investment Grade
Rating by both Rating Agencies, in any case on any day during the period (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) commencing
upon the first public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control and ending 60 days following the consummation of the Change of Control; provided that a Rating Event otherwise
arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event
hereunder) if any of the Rating Agencies making the reduction in rating to which this definition would otherwise apply does not announce or publicly confirm or inform the Trustee in writing at its request that the reduction was the result, in whole
or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Rating Event). 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its successors.

 “Voting Stock” means, with respect to any specified “person” (as that term is used in Section 13(d)(3) of the
Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

The Notes are not subject to any sinking fund. 

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared due and payable in
the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the
Holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of each series affected thereby. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate
principal amount of the Securities of any series at the time Outstanding, on behalf of the Holders of all Securities of such series, 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 Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note 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 Note. 

  
 A-6 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the right of the Holder of this Note, which is absolute and unconditional, to receive payment of the principal of and, subject to certain qualifications in the Indenture, interest on this Note at the times herein and in the Indenture
prescribed and to institute suit for the enforcement of any such payment unless the Holder of this Note shall have consented to the impairment of such right. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered in the Security
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of (and premium, if any) and interest on this Note are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of any authorized
denominations and of a like aggregate principal amount and tenor, shall be issued to the designated transferee or transferees. 
 The Notes
are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Subject to certain limitations therein set forth in the Indenture and in this Note, the Notes are exchangeable for a
like aggregate principal amount of Notes of this series in different authorized denominations, as requested by the Holders surrendering the same. 

No service charge shall be made for any such registration of transfer or for exchange of this Note, but the Company or the Trustee may require
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of a Note, other than in certain cases provided in the Indenture. 

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

The Indenture contains provisions whereby (i) the Company may be discharged from its obligations with respect to the Notes (subject to
certain exceptions) or (ii) the Company may be released from its obligations under specified covenants and agreements in the Indenture, in each case if the Company irrevocably deposits with the Trustee money or U.S. Government Obligations
sufficient to pay and discharge the entire indebtedness on all Notes of this series, and satisfies certain other conditions, all as more fully provided in the Indenture. 

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

  
 A-7 

 All terms used in this Note which are defined in the Indenture shall have the meanings assigned
to them in the Indenture. 
 Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee under the
Indenture by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose. 

  
 A-8 

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

Dated: [—] 
  

													
		 		 		 		 	THE TJX COMPANIES, INC.
					
	Attest:	 	  
	 		 	By:	 	  

		 	Name:	 		 		 		 	Name:	 	
		 	Title:	 		 		 		 	Title:	 	

  
 SIGNATURE
PAGE TO GLOBAL NOTE 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

Dated: [—] 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 SIGNATURE
PAGE TO GLOBAL NOTE 

 ABBREVIATIONS 

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

									
	 TEN COM –
	 	 as tenants
	 		  	UNIF GIFT MIN ACT -. . .	 	Custodian
		 	 in common
	 		  		 	(Cust) (Minor)
	 TEN ENT -
	 	 as tenants by
 the entireties
	 		  		 	 Under Uniform Gifts to
 Minor Act

	JT TEN -	 	 as joint tenants
 with right of

survivorship and
 not as tenants in

common
	 		  		 	  

(State)

  

			
	Additional abbreviations may also be used though not in the above list.	 	
	
                                         
       	 	
	FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto	 	
		
	  
	 	
	(Please insert Assignee’s legal name)	 	
		
	  
	 	
	(Please insert Social Security or other identifying number of Assignee)	 	
	  
	 	
	  
	 	
	(Please print or typewrite name and address including postal zip code of Assignee)	 	

  

	
	the within Note of THE TJX COMPANIES, INC. and does hereby irrevocably constitute and appoint
                                         attorney
to transfer the said Note on the books of the Company, with full power of substitution in the premises.

			
	Dated:	 	  

 

			
	Your Signature:	 	  

		 	(Sign exactly as your name appears on the face of this Note)

  

[NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without
alteration or enlargement or any change whatever.]

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