Document:

Registration Rights Agreement

 Exhibit 10.2 

REGISTRATION RIGHTS AGREEMENT 
 Registration Rights Agreement (this “Agreement”) dated as of July 25, 2012 among A.P. Pharma, Inc., a Delaware corporation, (the “Company”), and
the investors listed on the signature pages hereto (each, a “Purchaser” and, collectively, the “Purchasers”). 
 Background 
 1. Sale of Securities. In connection with
that certain Securities Purchase Agreement among the parties hereto dated the date hereof (the “Securities Purchase Agreement”), the Company has agreed, upon the terms and subject to the conditions set forth in the Securities
Purchase Agreement, to issue and sell to the Purchasers listed on the signature pages hereof 102,000,000 shares (the “Common Shares”) of the Company’s common stock, par value $0.01 per share (the “Common
Stock”). 
 2. Registration Rights. In accordance with the terms of the Securities Purchase
Agreement, the Company has agreed to provide to the Purchasers certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively, the
“Securities Act”), and applicable state securities laws. The execution and delivery of this Agreement is a condition to the Initial Purchaser’s obligation to purchase the Common Shares under the Securities Purchase
Agreement. 
 Agreement 
 The Company and each of the Purchasers hereby agree as follows: 
 1.
Definitions. 
 Capitalized terms used herein and not otherwise defined herein shall have the respective
meanings set forth in the Securities Purchase Agreement. As used in this Agreement, the following terms shall have the respective meanings set forth in this Section 1: 

“Additional Payment Amount” shall have the meaning set forth in Section 2(d). 

“Advice” shall have the meaning set forth in Section 2(e). 

“Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of
New York are authorized or required by law to remain closed. 
 “Commission” means the U.S. Securities
and Exchange Commission. 
 “Common Shares” shall have the meaning set forth in the preamble.

 “Company” shall have the meaning set forth in the preamble. 

“Effective Date” means, with respect to any Registration Statement, the date that the Commission first declares
effective such Registration Statement. 

 “Effectiveness Deadline” means an Initial Effectiveness Deadline or
a Subsequent Effectiveness Deadline. 
 “Effectiveness Period” shall have the meaning set forth in
Section 2(a). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
the rules and regulations promulgated thereunder. 
 “Filing Deadline” means: (a) with respect to
the initial Registration Statement to be filed pursuant to Section 2(a), the 30th day following the Closing Date under the Securities Purchase Agreement; and (b) with respect to any additional Registration Statement to be filed
pursuant to Section 2(b), the 30th day following the date that the Commission shall indicate as being the first date or time that such filing may be made. 
 “FINRA” means the Financial Industry Regulatory Authority, Inc. or any successor organization performing similar functions. 

“Holder” or “Holders” means the holder or holders, as the case may be, from time to time
of Registrable Securities. 
 “Indemnified Party” shall have the meaning set forth in
Section 5(c). 
 “Indemnifying Party” shall have the meaning set forth in
Section 5(c). 
 “Initial Effectiveness Deadline” means, with respect to the Registration
Statement filed pursuant to Section 2(a), the date that is: (a) in the event that the Registration Statement is not subject to a full review by the SEC, 90 days after the Closing Date under the Securities Purchase Agreement; or
(b) in the event that the Registration Statement is subject to review by the SEC, 120 days after the Closing Date under the Securities Purchase Agreement. 
 “Legal Counsel” shall have the meaning set forth in Section 3(h). 
 “Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether
commenced or threatened. 
 “Prospectus” means the prospectus included in a Registration Statement
(including, without limitation, any preliminary prospectus, any free-writing prospectus and any prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement under the Securities
Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to such prospectus,
including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such prospectus. 
 “Purchaser” shall have the meaning set forth in the preamble. 

  
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 “Registrable Securities” means each of the Securities upon its
original issuance and at all times subsequent thereto until: (i) a Registration Statement covering such Security has been declared effective by the Commission and such Security has been disposed of in accordance with such effective Registration
Statement; (ii) such Security ceases to be outstanding; or (iii) such Security has been sold in compliance with Rule 144 or is salable pursuant to Rule 144(d) without any limitation on the manner of sale or amount of securities
to be sold (or any similar provision then in force other than Rule 144A). 
 “Registration Default”
shall have the meaning set forth in Section 2(d). 
 “Registration Statement” means a
registration statement filed pursuant to the terms hereof and which covers the resale by the Holders of Registrable Securities, including the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and
post-effective amendments, all exhibits thereto and all material incorporated by reference (or deemed to be incorporated by reference) therein. For the avoidance of doubt, “Registration Statement” means the initial
registration statement described above in this paragraph and any additional registration statement or registration statements that are needed to sell additional Registrable Securities with the effect that the obligations of the Company under this
Agreement also extend to such additional registration statement or registration statements, in all cases, as specified in this Agreement. 
 “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation
hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule
may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Rule 424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation
hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Securities”
means the Common Shares issued pursuant to the Securities Purchase Agreement, together with any securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event or conversion price adjustment with
respect thereto. 
 “Securities Act” shall have the meaning set forth in the preamble. 

“Securities Purchase Agreement” shall have the meaning set forth in the preamble. 

“Selling Holder Questionnaire” shall have the meaning set forth in Section 2(e). 

“Subsequent Effectiveness Deadline” means, with respect to any additional Registration Statement filed pursuant
to Section 2(b), the date that is: (a) in the event that the Registration Statement is not subject to a full review by the SEC, 60 days after the Filing Deadline applicable to such Registration Statement, or (b) in the
event that the Registration Statement is subject to a full review by the SEC, 90 days after the Filing Deadline applicable to such Registration Statement. 

  
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 “Subsequent Registration Statement” shall have the meaning set forth
in Section 2(b). 
 “Suspension Period” shall have the meaning set forth in
Section 2(c). 
 “Trading Day” means any day on which the Common Stock is traded on the
Trading Market; provided that “Trading Day” shall not include any day on which the Common Stock is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the
final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time). 

“Trading Market” means whichever of the New York Stock Exchange, the American Stock Exchange, the Nasdaq
Global Market, the Nasdaq Capital Market or such other United States registered national securities exchange on which the Common Stock is listed or quoted for trading on the date in question. 

“Transaction Documents” means, collectively, this Agreement and the Securities Purchase Agreement, dated as of
July 25, 2012, among the Company and the purchasers named therein. 
 2. Registration.

 (a) Initial Registration. On or prior to the Filing Deadline, the Company shall prepare and file with the
Commission a Registration Statement covering the resale of all Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement shall be on Form S-3 (except if the Company is not then
eligible to register for resale the Registrable Securities on Form S-3 in which case such registration shall be on another appropriate form for such purpose) and shall contain (except if otherwise required pursuant to written comments received
from the Commission upon a review of such Registration Statement) a “Plan of Distribution” substantially in the form attached hereto as Annex A, as the same may be amended in accordance with the provisions of this
Agreement. The Company shall use reasonable best efforts to cause the Registration Statement to be declared effective under the Securities Act as soon as practicable but, in any event, no later than the Initial Effectiveness Deadline, and shall use
commercially reasonable efforts to keep the Registration Statement (or a Subsequent Form S-3, as defined below) continuously effective under the Securities Act until the earlier of (i) such time as all of the Registrable Securities covered
by such Registration Statement have been sold or (ii) the date when all Registrable Securities covered by the Registration Statement cease to be Registrable Securities as determined by the counsel to the Company (the “Effectiveness
Period”). Notwithstanding the foregoing, the Company shall only be required to initially register the number of Registerable Securities the Commission allows to be registered on the initial Registration Statement. 

(b) Subsequent Registrations. If for any reason the Commission does not permit all of the Registrable Securities to be included in
the Registration Statement initially filed pursuant to Section 2(a), then the Company shall prepare and file as soon as practicable after the date on 

  
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which the Commission shall indicate as being the first date or time that such filing may be made, but in any event by the Filing Deadline, an additional Registration Statement covering the resale
of the Registrable Securities not already covered by an existing and effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 (the “Subsequent Registration Statement”),
provided that the number of Registerable Securities that the Company shall be required to register on each Subsequent Registration Statement shall not exceed the number of Registerable Securities the Commission allowed to be registered on the
initial Registration Statement. The Company shall use commercially reasonable efforts to cause such Registration Statement to be declared effective under the Securities Act as soon as practicable but, in any event, no later than the Subsequent
Effectiveness Deadline, and shall use commercially reasonable efforts to keep such Registration Statement continuously effective under the Securities Act during the Effectiveness Period. 

(c) Suspension Periods. Notwithstanding anything to the contrary contained herein, the Company may suspend the effectiveness of a
Registration Statement by written notice to the Holders for a period (each such period, a “Suspension Period”) not to exceed an aggregate of 45 days in any 90-day period, and not to exceed an aggregate of 90 days in
any 360-day period, if: 
  

	 	(i)	an event occurs and is continuing as a result of which, if such event were not disclosed in the Registration Statement, the Registration Statement would, in the
Company’s reasonable judgment, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and 

 

	 	(ii)	the Company reasonably determines in good faith that the disclosure of such event at such time would be seriously detrimental to the Company or its business;

 provided that, in the event the disclosure relates to a previously undisclosed proposed or pending material business
transaction, the disclosure of which would impede the Company’s ability to consummate such transaction, the period during which the effectiveness of the Registration Statement is suspended shall not be included in the calculation of any
Suspension Period. 
 (d) Additional Payment Amounts. The Company and the Purchasers agree that the Holders will suffer
damages if the Company fails to fulfill its obligations under this Section 2 and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, if: 

 

	 	(i)	a Registration Statement is not filed with the Commission on or before the applicable Filing Deadline; 

 

	 	(ii)	a Registration Statement is not declared effective by the Commission on or before the applicable Effectiveness Deadline; 

 

	 	(iii)	 a Registration Statement is filed and declared effective but, during the applicable Effectiveness Period, shall cease to be effective or, other than by
reason of a Suspension Period as provided in Section 2(c), shall fail to be usable for its intended purpose without such disability being cured within 

  
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twenty Business Days by an effective post-effective amendment to such Registration Statement, a supplement to the Prospectus, a report filed with the Commission pursuant to Section 13(a),
13(c), 14 or 15(d) of the Exchange Act that cures such failure; or 

  

	 	(iv)	(A) prior to or on the 45th day, as may be permitted under Section 2(c), of any Suspension Period, such suspension has not been terminated or
(B) Suspension Periods exceed an aggregate of 45 days, as may be permitted under Section 2(c), in any 90-day period or an aggregate of 90 days in any 360-day period, 

(each such event referred to in foregoing clauses (i) through (iv), a “Registration Default”), then in such event as relief
for the damages to any Holder by reason of any such delay in or reduction of its ability to sell the Registrable Securities and not as a penalty, the Company hereby agrees to pay to each Holder, subject to Section 2(e), an amount in cash
equal to 1.5% of the aggregate purchase price of the unregistered Registrable Securities held by such Holder for each 30-day period (prorated for periods totaling less than 30 days) following the Registration Default until the earlier to occur
of: (i) such time as when the Company cures the Registration Default; and (ii) the six (6) month anniversary of the date hereof. The payments to which a Holder shall be entitled pursuant to this Section 2(d) are referred
to herein as “Additional Payment Amounts”. The Company shall pay Additional Payment Amounts, if any, to Holders on the earlier of: (I) the last day of the calendar month during which such Additional Payment Amounts are
incurred; and (II) the third Business Day following the date on which the Registration Default giving rise to the Additional Payment Amounts is cured. In the event that the Company fails to pay Additional Payment Amounts within three Trading
Days, such Additional Payment Amounts shall accrue interest, payable in cash in arrears, at the rate of 1.0% per month (prorated for partial months) until paid in full. 
 (e) Selling Holder Agreements. Each Holder agrees to furnish to the Company a completed questionnaire in the form attached to this Agreement as Annex B or in a form mutually agreeable
to the parties (a “Selling Holder Questionnaire”). The Company shall not be required to include the Registrable Securities of a Holder in a Registration Statement and shall not be required to pay any Additional Payment
Amounts under Section 2(d) or other damages to any Holder who fails to furnish to the Company a fully completed Selling Holder Questionnaire at least ten Business Days prior to the applicable Filing Deadline. 

Each Holder agrees by its acquisition of such Registrable Securities that, upon receipt of a notice from the Company of the occurrence of
any event of the kind described in Section 2(c) or Section 3(c), such Holder will forthwith discontinue disposition of such Registrable Securities under the Registration Statement until such Holder’s receipt of the
copies of the supplemented Prospectus and/or amended Registration Statement or until it is advised in writing (the “Advice”) by the Company that the use of the applicable Prospectus may be resumed, and, in either case, has
received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Company may provide appropriate stop orders to enforce the provisions of this
paragraph. 

  
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 With respect to Registrable Securities not already covered by a Registration Statement, the
Company shall not be obligated to file: (i) more than one pre-effective amendment or supplement to a Registration Statement for all Holders during any fiscal quarter; and (ii) more than one post-effective amendment to a Registration
Statement for all Holders during any semi-annual period, and provided further, in all such cases involving supplements or amendments (whether pre-effective or post-effective), the Company shall only be obligated to make a filing when the aggregate
principal amount of the Registrable Securities to be included in such amendment or supplement is more than $5 million. 
 3.
Registration Procedures. 
 (a) Right to Prior Drafts. Not less than five Business Days prior to
the filing of a Registration Statement or any related Prospectus or any amendment or supplement thereto, the Company shall furnish to each Holder copies of the “Selling Security Holders” section of such documents in the form
in which the Company proposes to file them, which sections will be subject to the review of each such Holder. Each Holder shall provide comments, if any, within two Business Days after the date such materials are provided. The Company shall not file
a Registration Statement, any Prospectus or any amendments or supplements thereto in which the “Selling Security Holders” section thereof differ in any material respect from the disclosure received from a Holder in its
Selling Holder Questionnaire (as amended or supplemented). 
 (b) Subsequent Amendments or Supplements, etc. The Company
shall: (i) prepare and file with the Commission such amendments, including post-effective amendments, pursuant to Rule 462 or otherwise, to a Registration Statement and the Prospectus used in connection therewith as may be necessary to
keep such Registration Statement continuously effective as to the applicable Registrable Securities for its applicable Effectiveness Period; (ii) cause the related Prospectus to be amended or supplemented by any required Prospectus supplement,
and as so supplemented or amended to be filed pursuant to Rule 424; (iii) respond as promptly as reasonably practicable to any comments received from the Commission with respect to any Registration Statement or any amendment thereto;
(iv) comply in all material respects with the provisions of the Securities Act and the Exchange Act with respect to the Registration Statements and the disposition of all Registrable Securities covered by each Registration Statement; and
(v) upon the occurrence of any event contemplated by Section 3(c)(v), as promptly as reasonably practicable, prepare a supplement or amendment, including a post-effective amendment, to the affected Registration Statement or a
supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. 

(c) Notices to Holders. The Company shall notify the Holders as promptly as reasonably practicable (and, in the case of
clause (i)(A) below, not less than two Business Days prior to such filing; and, in the case of (i)(c) below, not more than 24 hours after effectiveness): (i): (A) when a Prospectus or any supplement thereto or post-effective amendment to a
Registration Statement is proposed to be filed; (B) when the Commission notifies the Company whether there will be a “review” of such Registration Statement; and (C) with respect to each Registration Statement or
any post-effective amendment, when the same has 

  
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become effective; (ii) of any request by the Commission or any other Federal or state governmental authority for amendments or supplements to a Registration Statement or Prospectus or for
additional information; (iii) of the issuance by the Commission of any stop order suspending the effectiveness of a Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose;
(iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of
any Proceeding for such purpose; and (v) of the occurrence of any event or passage of time that makes the financial statements included in a Registration Statement ineligible for inclusion therein or that requires any Registration Statement,
Prospectus or any document incorporated or deemed to be incorporated therein by reference to be revised so that, in the case of such Registration Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. 

(d) Copies. Upon request, the Company shall furnish to each Holder, without charge: (i) at least one copy of each
Registration Statement and each amendment thereto and all exhibits to the extent requested by such Holder (excluding those previously furnished or incorporated by reference), except if such documents are available on Edgar; and (ii) an
electronic copy of each Prospectus or Prospectuses (including each form of prospectus) and each amendment or supplement thereto as such Holder may reasonably request. The Company hereby consents to the use of such Prospectus and each amendment or
supplement thereto by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto. 

(e) Blue Sky. The Company shall, prior to any public offering of Registrable Securities, use commercially reasonable efforts to
cooperate with the selling Holders in connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable Securities for offer and sale under the securities or Blue Sky laws of all
jurisdictions within the United States that the selling Holders request in writing be covered, to keep each such registration or qualification (or exemption therefrom) effective during the applicable Effectiveness Period and to do any and all other
acts or things necessary or advisable to enable the disposition in such jurisdictions of the Registrable Securities covered by any Registration Statement; provided, that the Company shall not be required to qualify generally to do business in any
jurisdiction where it is not then so qualified or to become subject to any tax in any such jurisdiction where it is not then so subject. 
 (f) Certificates. The Company shall cooperate with the Holders to facilitate the timely preparation and delivery of either certificates or a book entry position through the DTC’s DWAC system
representing Registrable Securities to be delivered to a transferee pursuant to any Registration Statement, which certificates shall be free of all restrictive legends, and to enable such Registrable Securities to be in such denominations and
registered in such names as any such Holders may reasonably request. 
 (g) Underwriters. If underwriters are used or if
any Holder is deemed to be, alleged to be or reasonably believes it may be deemed or alleged to be, an underwriter or is required under 

  
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applicable securities laws to be described in a Registration Statement as an underwriter, with the concurrence of counsel for the Company, the Company shall use its reasonable efforts to furnish,
on the date that such Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters: (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of
such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters; and (ii) a letter, dated as of such date, from the independent certified public accountants of
the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering addressed to the underwriters. 

(h) 144 Information. With a view to making available to Holders the benefits of Rule 144 promulgated under the
Securities Act, the Company shall, during the Effectiveness Period, file with the Commission in a timely manner all reports and other documents required of the Company under Rule 144(c) and provide to any Holder that is an affiliate of the Company
(as “affiliate” is defined in Rule 144(a)(1)), as long as such Holder owns Registrable Securities, upon reasonable request: (i) a written statement by the Company that it has complied with the current information requirements of
Rule 144(c); and (ii) such other information as may be reasonably requested to avail any Holder of any rule or regulation of the Commission that permits the selling of any such securities without registration. 

4. Registration Expenses. 
 All fees and expenses incident to the performance of or compliance with this Agreement by the Company, other than underwriting discounts and commissions, shall be borne by the Company whether or not any
Registrable Securities are sold pursuant to a Registration Statement including, without limitation: 
 (i) all registration and
filing fees (including, without limitation, fees and expenses: (A) with respect to filings required to be made with any Trading Market on which the Common Stock is then listed for trading; (B) related to compliance with applicable state
securities or Blue Sky laws; and (C) incurred in connection with the preparation or submission of any filing with FINRA); 

(ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities and of printing
prospectuses if the printing of prospectuses is reasonably requested by Holders of a majority of the Registrable Securities included in a Registration Statement); 
 (iii) messenger, telephone and delivery expenses; 
 (iv) fees and disbursements of
counsel for the Company; 
 (v) Securities Act liability insurance, if the Company so desires such insurance; 

(vi) fees and expenses of all other persons retained by the Company in connection with the consummation of the transactions contemplated
by this Agreement; and 

  
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 (vii) all of the Company’s own internal expenses incurred in connection with the
consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses
incurred in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. 
 5.
Indemnification. 
 (a) Indemnification by the Company. The Company will indemnify each
Purchaser who holds Common Shares (if Common Shares held by such Purchaser are included in the securities as to which such registration is being effected), each of its officers and directors, partners, members and each person controlling such
Purchaser within the meaning of Section 15 of the Securities Act, against all expenses, claims, losses, damages or liabilities (or actions in respect thereof), including any of the foregoing incurred in settlement of any litigation, commenced
or threatened, arising out of or based on: (A) any untrue statement (or alleged untrue statement) of a material fact contained in any Registration Statement, prospectus, offering circular or other document, or any amendment or supplement
thereto, incident to any such Registration Statement, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which
they were made, not misleading; or (B) any violation by the Company of the Securities Act, the Exchange Act, state securities laws or any rule or regulation promulgated under such laws applicable to the Company in connection with any such
registration, and in each case, the Company will reimburse each such Purchaser, each of its officers and directors, partners, members and each person controlling such Purchaser, for any legal and any other expenses reasonably incurred, as such
expenses are incurred, in connection with investigating, preparing or defending any such claim, loss, damage, liability or action, provided that the Company will not be liable in any such case to the extent that any such claim, loss, damage,
liability or expense arises out of or is based on: (X) any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information furnished to the Company by an instrument duly
executed by such Purchaser or controlling person, and stated to be specifically for use therein; (Y) the use by a Purchaser of an outdated or defective prospectus after the Company has notified such Purchaser in writing that the prospectus is
outdated or defective; or (Z) a Purchaser’s (or any other indemnified person’s) failure to send or give a copy of the prospectus or supplement (as then amended or supplemented), if required, pursuant to Rule 172 under the Securities
Act (or any successor rule) to the persons asserting an untrue statement or alleged untrue statement or alleged untrue statement or omission or alleged omission at or prior to the written confirmation of the sale of Common Shares to such person if
such statement or omission was corrected in such prospectus or supplement; provided, further, that the indemnity agreement contained in this Section 5(a) shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld). 
 (b) Indemnification by the Purchasers. Each Purchaser holding Common Shares will, if Common Shares held by such Purchaser are included in the securities as to which such registration is being
effected, severally and not jointly, indemnify the Company, each of its directors and officers, other holders of the Company’s securities covered by such Registration Statement, each person who controls the Company within the meaning of
Section 15 of the 

  
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Securities Act, and each such holder, each of its officers and directors and each person controlling such holder within the meaning of Section 15 of the Securities Act, against all claims,
losses, damages and liabilities (or actions in respect thereof) arising out of or based on: (A) any untrue statement (or alleged untrue statement) of a material fact contained in any such Registration Statement, prospectus, offering circular or
other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, to the extent, and only to the extent, that such untrue statement (or
alleged untrue statement) or omission (or alleged omission) is made in such Registration Statement, prospectus, offering circular or other document in reliance upon and in conformity with written information furnished to the Company by an instrument
duly executed by such Purchaser and stated to be specifically for use therein; or (B) any violation by such Purchaser of the Securities Act, the Exchange Act, state securities laws or any rule or regulation promulgated under such laws
applicable to such Purchaser, and in each case, such Purchaser will reimburse the Company, each other holder, and directors, officers, persons, underwriters or control persons of the Company and the other holders for any legal or any other expenses
reasonably incurred, as such expenses are incurred, in connection with investigating or defending any such claim, loss, damage, liability or action; provided, that the indemnity agreement contained in this Section 5(b) shall not apply to
amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of such indemnifying Purchaser (which consent shall not be unreasonably withheld or delayed). The liability of any
Purchaser for indemnification under this Section 5(b) in its capacity as a seller of Common Shares shall not exceed the amount of net proceeds to such Purchaser of the securities sold in any such registration. 

(c) Notice and Procedure. Each party entitled to indemnification under this Section 5 (the “Indemnified
Party”) shall give written notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be
sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be
approved by the Indemnified Party (whose approval shall not unreasonably be withheld), and the Indemnified Party may participate in such defense at such party’s expense, and provided further that the failure of any Indemnified Party to give
notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Agreement unless the failure to give such notice is materially prejudicial to an Indemnifying Party’s ability to defend such action and provided
further, that the Indemnifying Party shall not assume the defense for matters as to which there is a conflict of interest or there are separate and different defenses. No Indemnifying Party, in the defense of any such claim or litigation, shall,
except with the consent of each Indemnified Party (whose consent shall not be unreasonably withheld), consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. 
 (d)
Contribution. If the indemnification provided for in this Section 5 is held by a court of competent jurisdiction to be unavailable to an Indemnified Party with respect to any losses, claims, damages or liabilities referred to
herein, the Indemnifying Party, in lieu of indemnifying such Indemnified Party thereunder, shall to the extent permitted by applicable law contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim,

  
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damage or liability in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and of the Indemnified Party on the other in connection with the
untrue statement or omission that resulted in such loss, claim, damage or liability, as well as any other relevant equitable considerations. The relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by a court of
law by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the Indemnifying Party or by the Indemnified Party and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission; provided, that in no event shall any contribution by a Purchaser hereunder exceed the proceeds from the offering
received by such Purchaser. The amount paid or payable by a party as a result of any loss, claim, damage or liability shall be deemed to include, subject to the limitations set forth in this Agreement, any reasonable attorneys’ or other
reasonable fees or expenses incurred by such party in connection with any proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section 5 was available to
such party in accordance with its terms. 
 (e) Survival. The obligations of the Company and the Purchasers under this
Section 5 shall survive completion of any offering of Common Shares in a Registration Statement and the termination of this Agreement. The indemnity and contribution agreements contained in this Section 5 are in addition to
any liability that the Indemnifying Parties may have to the Indemnified Parties and are not in diminution or limitation of other remedies or causes of action that the parties may have under the Transaction Documents. 

6. Miscellaneous. 
 (a) Notices. Any notice or other communication required or permitted to be provided hereunder shall be in writing and shall be delivered in person or by first class mail (registered or certified,
return receipt requested), facsimile, or overnight air courier guaranteeing next day delivery, to such address as the recipient shall most recently have designated in writing or, if no such designation has been made, to the following address:

 If to the Company: 
 AP Pharma, Inc. 
 123 Saginaw Drive 

Redwood City, CA 94063 
 Attention: John Whelan, Chief Executive Officer 
 Facsimile: (650) 365-6490

 With a copy to: 
 Ropes & Gray LLP 
 Three Embarcadero 

San Francisco, CA 94111 
 Attention: Ryan Murr, Esq. 
 Facsimile: (415) 315-6026 

  
 - 12 -

 If to a Purchaser: 
 To the address set forth under such Purchaser’s name on the signature pages hereto. 
 If to any other person who is then a registered Holder: 
 To the address of such
Holder as it appears in the record books of the Company. 
 All notices and communications (other than those sent to Holders)
shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if
telecopied; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 
 Failure to provide a notice or communication to one party hereto or any defect in it shall not affect its sufficiency with respect to other parties hereto. 

(b) Independent Nature of Purchaser’s Obligations and Rights. The obligations of each Purchaser under this Agreement are
several and not joint with the obligations of each other Purchaser, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser under this Agreement. Nothing contained herein or in any Transaction
Document, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchaser as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in
any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any other Transaction Document. Each Purchaser acknowledges that no other Purchaser will be acting as agent of such
Purchaser in enforcing its rights under this Agreement. Each Purchaser shall be entitled to independently protect and enforce its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for any
other Purchaser to be joined as an additional party in any Proceeding for such purpose. The Company acknowledges that each of the Purchasers has been provided with the same Registration Rights Agreement for the purpose of closing a transaction with
multiple Purchasers and not because it was required or requested to do so by any Purchaser. 
 (c) Compliance. Each
Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to the Registration Statement. 

(d) Remedies. In the event of a breach by the Company or by a Holder of any of their obligations under this Agreement, each Holder
or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Company
and each Holder agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and hereby further agree that, in the event of any action for specific
performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate. In addition, the remedies provided herein are cumulative and not exclusive of any remedies provided by law. 

  
 - 13 -

 (e) Governing Law; Jurisdiction; Jury Trial; etc. THIS AGREEMENT SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF CALIFORNIA, WITHOUT REGARD TO CONFLICT-OF-LAW PRINCIPLES. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in San
Francisco, California, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or
proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party
hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such
service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. If either party shall commence a proceeding
to enforce any provisions of this Agreement, then the prevailing party in such proceeding shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such proceeding. 
 (f) Amendments and Waivers. No provision of this Agreement may be amended other than by an
instrument in writing signed by the Company and Holders representing a majority of then outstanding Registrable Securities, and any amendment to this Agreement made in conformity with the provisions of this Section 6(h) shall be binding
on the Purchasers and all Holders of the Registrable Securities, as applicable. No provision hereof may be waived other than by an instrument in writing signed by the party from whom such waiver is requested. Notwithstanding the foregoing, a
waiver or consent with respect to a matter that relates exclusively to the rights of one or more Holders and that does not directly or indirectly affect the rights of other Holders may be given by Holders of at least a majority of the Registrable
Securities to which such waiver or consent relates, provided that, the provisions of this sentence may not be amended, modified or supplemented except in accordance with the provisions of the immediately preceding two sentences. 

(g) Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and
shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby. 
 (h) Entire Agreement. This Agreement and the Securities Purchase Agreement supersede
all other prior oral or written agreements among the parties hereto and persons acting 

  
 - 14 -

 
on their behalf with respect to the matters discussed herein, and this Agreement and the Securities Purchase Agreement and the instruments referenced herein and therein contain the entire
understanding of the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, none of the parties hereto makes any representation, warranty, covenant or undertaking with respect to such
matters. 
 (i) Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns; provided that no party shall assign any of its rights or obligations hereunder without the prior written consent of the other party, except that the right to cause the Company to register
Registrable Securities hereunder may be assigned (but only with all related obligations) by a Holder to a transferee who acquires all or any part of such Holder’s Registrable Securities from the Holder, as long as such transferee agrees in
writing to be bound by the provisions of this Agreement. 
 (j) Counterparts; Facsimile Copies. This Agreement may be
executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid binding obligation of the party executing the same (or on whose behalf the same is executed) with the same force and effect as if such facsimile signature were the original thereof. 

(k) Severability. If any provision of this Agreement shall be invalid, unenforceable, illegal or void in any jurisdiction, such
invalidity, unenforceability, illegality or voidness shall not affect the validly or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other
jurisdiction. In that case, the parties hereto shall use their reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such provision. It is hereby stipulated and
declared to be the intention of the parties that they would have executed the remaining provisions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

(l) Headings. The headings in this Agreement are for convenience of reference and shall not form part of, or affect the
interpretation of, this Agreement. 
 [Remainder of page intentionally left blank, signature pages to follow] 

  
 - 15 -

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	A.P. Pharma, Inc.
		
	 By:
	 	 /s/ John Whelan

		 	Name: John Whelan
		 	Title: Chief Executive Officer

 Company Signature Page to Registration Rights Agreement 

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	Broadfin Healthcare Master Fund, LTD
	
	AUTHORIZED SIGNATORY
		
	By:	 	 /s/ Jason Abrams

	Name:	 	Jason Abrams
	Title:	 	CFO
	
	ADDRESS FOR NOTICE
	
	c/o: Broadfin Capital
	
	Street: 237 Park Avenue, Suite 900
	
	City/State/Zip: New York, NY 10017
	
	Attention: Jason Abrams
	
	Tel: 212-808-2469
	
	Fax: 212-808-2464
	
	Email: Jason@broadfincapital.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	Capital Ventures International by: Heights
	Capital Management Its Authorized Agent
	
	AUTHORIZED SIGNATORY
		
	By:	 	 /s/ Martin Kobinger

	Name:	 	Martin Kobinger
	Title:	 	Investment Manager
	
	ADDRESS FOR NOTICE
	
	c/o: Heights Capital Management
	
	Street: 101 California St., Suite 3250
	
	City/State/Zip: San Francisco, CA, 94111
	
	Attention: Sam Winer
	
	Tel: (415) 403-6500
	
	Fax: (415) 403-6525
	
	Email: winer@sig.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	Ayer Capital Partners Master Fund, L.P.
	
	AUTHORIZED SIGNATORY
		
	By:	 	 /s/ Jay Venkatesan

	Name:	 	Jay Venkatesan
	Title:	 	Managing Member
	
	ADDRESS FOR NOTICE
	
	c/o: Ayer Capital Mangement, LP
	
	Street: 230 California Street, Suite 600
	
	City/State/Zip: San Francisco, CA 94111
	
	Attention: Jay Venkatesan
	
	Tel: 415-874-4800
	
	Fax: 415-520-6828
	
	Email: jrv@ayercapital.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	Ayer Capital Partners Kestrel Fund, LP
	
	AUTHORIZED SIGNATORY
		
	By:	 	 /s/ Jay Venkatesan

	Name:	 	Jay Venkatesan
	Title:	 	Managing Member
	
	ADDRESS FOR NOTICE
	
	c/o: Ayer Capital Mangement, LP
	
	Street: 230 California Street, Suite 600
	
	City/State/Zip: San Francisco, CA 94111
	
	Attention: Jay Venkatesan
	
	Tel: 415-874-4800
	
	Fax: 415-520-6828
	
	Email: jrv@ayercapital.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	Epworth - Ayer Capital
	
	AUTHORIZED SIGNATORY
		
	By:	 	 /s/ Jay Venkatesan

	Name:	 	Jay Venkatesan
	Title:	 	Managing Member
	
	ADDRESS FOR NOTICE
	
	c/o: Ayer Capital Mangement, LP
	
	Street: 230 California Street, Suite 600
	
	City/State/Zip: San Francisco, CA 94111
	
	Attention: Jay Venkatesan
	
	Tel: 415-874-4800
	
	Fax: 415-520-6828
	
	Email: jrv@ayercapital.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	T. Rowe Price Health Sciences Fund, Inc.
	T. Rowe Price Health Sciences Portfolio
	V ALIC Company I - Health Sciences Fund
	John Hancock Variable Insurance Trust - Health
	Sciences Trust
	John Hancock Funds II - Health Sciences Fund
	TD Mutual Funds - TD Health Sciences Fund
	
	By: T. ROWE PRICE ASSOCIATES, INC.
	Investment Adviser, for and on behalf of the Purchasers listed (above) in Attachment A
		
	By:	 	 /s/ G. Mark Bussard

	Name:	 	G. Mark Bussard
	Title:	 	Vice President
	
	ADDRESS FOR NOTICE
	
	T. Rowe Price Associates, Inc.
	100 East Pratt Street
	Baltimore, MD 21202
	Attention: Andrew Baek, Vice President and
	Senior Legal Counsel
	
	Tel: 410-345-2090
	Fax: 410-345-6575
	Email: andrew_baek@troweprice.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	FTIF - Franklin Biotechnology Discovery Fund
	
	AUTHORIZED SIGNATORY
		
	By:	 	 /s/ Steve Gray

	Name:	 	Steve Gray
	Title:	 	Vice President
	
	ADDRESS FOR NOTICE
	
	c/o: Franklin Templeton Investments
	Street: One Franklin Parkway, Building 920
	City/State/Zip: San Mateo, CA 94403
	Attention: Evan McCulloch
	Tel: (650) 312 4082
	Email: evan.mcculloch@frk.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	Tang Capital Partners, LP
	
	AUTHORIZED SIGNATORY
		
	By:	 	 /s/ Kevin Tang

	Name:	 	Kevin Tang
	Title:	 	Managing Director
	
	ADDRESS FOR NOTICE
	
	c/o Tang Capital Management, LLC
	
	4747 Executive Drive, Suite 510
	
	San Diego, CA 92127
	
	Attention: John Lemkey
	
	Tel: 858-200-3412
	
	Fax: 858-200-3837
	
	Email: jlemkey@tangcapital.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	Baker Brothers Life Sciences, L.P.
	
	AUTHORIZED SIGNATORY
	
	By: Baker Bros Advisors, LLC, Management Company and Investment Advisor to BAKER BROTHERS LIFE SCIENCES, L.P., pursuant to authority granted by Baker Brothers Life
Sciences Capital, L.P., general partner to BAKER BROTHERS SCIENCES, L.P. and not the general partner
	
	 /s/ Scott L. Lessing

	By:	 	Scott L. Lessing, President
	
	ADDRESS FOR NOTICE
	
	c/o: Baker Bros. Advisors, LLC
	
	Street: 667 Madison Ave. 21st Fl.
	
	City/State/Zip: New York, NY 10065
	
	Attention: Leo Kirby, CFO
	
	Tel: 212-339-5633
	
	Fax: 212-339-5688
	
	Email: leokirby@bbinvestments.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	14159, L.P.
	
	AUTHORIZED SIGNATORY
	
	By: Baker Bros Advisors, LLC, Management Company and Investment Advisor to 14159, L.P., pursuant to authority granted by 14159 Capital, L.P., general partner to 14159,
L.P. and not the general partner
	
	 /s/ Scott L. Lessing

	By:	 	Scott L. Lessing, President
	
	ADDRESS FOR NOTICE
	
	c/o: Baker Bros. Advisors, LLC
	
	Street: 667 Madison Ave. 21st Fl.
	
	City/State/Zip: New York, NY 10065
	
	Attention: Leo Kirby, CFO
	
	Tel: 212-339-5633
	
	Fax: 212-339-5688
	
	Email: leokirby@bbinvestments.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	667, L.P.
	
	AUTHORIZED SIGNATORY
	
	By: Baker Bros Advisors, LLC, Management Company and Investment Advisor to 667, L.P., pursuant to authority granted by 667 Capital, L.P., general partner to 667, L.P.
and not the general partner
	
	 /s/ Scott L. Lessing

	By:	 	Scott L. Lessing, President
	
	ADDRESS FOR NOTICE
	
	c/o: Baker Bros. Advisors, LLC
	
	Street: 667 Madison Ave. 21st Fl.
	
	City/State/Zip: New York, NY 10065
	
	Attention: Leo Kirby, CFO
	
	Tel: 212-339-5633
	
	Fax: 212-339-5688
	
	Email: leokirby@bbinvestments.com

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	 Fidelity Select Portfolios: Biotechnology Portfolio

		
	By:	 	 /s/ Kenneth Robins

	 Name: Kenneth Robins

	 Title: Treasurer

 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
date first written above. 
  

			
	 FidelityAdvisor Series VII: Fidelity Advisor

Biotechnology Fund

		
	By:	 	 /s/ Kenneth Robins

	 Name: Kenneth Robins

	 Title: Treasurer

 Annex A 
 PLAN OF DISTRIBUTION 
 We are registering the Shares covered by this
prospectus on behalf of the Selling Security Holders. All costs, expenses and fees connected with the registration of these Securities will be borne by us. Any brokerage commissions and similar expenses connected with selling the Securities will be
borne by the Selling Security Holders. The Selling Security Holders may offer and sell the Securities covered by this prospectus from time to time in one or more transactions. The term “Selling Security Holders” includes
pledgees, donees, transferees and other successors-in-interest who may acquire Securities through a pledge, gift, partnership distribution or other non-sale related transfer from the Selling Security Holders and who agree to be bound by the terms of
the Registration Rights Agreement. The Selling Security Holders will act independently of the Company in making decisions with respect to the timing, manner and size of each sale and they may sell Securities on one or more exchanges, including the
Nasdaq Global Market, in the over-the-counter market or in privately negotiated transactions at prevailing market prices at the time of sale, at fixed prices, at varying prices determined at the time of the sale or at negotiated prices. These
transactions include: 
  

	 	•	 	 ordinary brokerage transactions and transactions in which the broker solicits purchasers; 

 

	 	•	 	 purchases by a broker-dealer as principal and resale by the broker-dealer for its own account pursuant to this prospectus;

  

	 	•	 	 exchange or over-the-counter distributions in accordance with the rules of the exchange or other market; 

 

	 	•	 	 block trades in which the broker-dealer attempts to sell the Securities as agent but may position and resell a portion of the block as principal to
facilitate the transaction; 

  

	 	•	 	 a combination of any such method of sale; and 

  

	 	•	 	 any other method permitted pursuant to applicable law. 

 In connection with distributions of the Shares or otherwise, the Selling Security Holders may: 
  

	 	•	 	 sell the Securities short and redeliver the Securities to close out short positions; provided that such short positions were entered into in compliance
with applicable securities laws; 

  

	 	•	 	 enter into option or other transactions with broker-dealers or other financial institutions which require the delivery to them of Securities covered by
this prospectus, which they may in turn resell; and 

  

	 	•	 	 pledge Securities to broker-dealers or other financial institutions, which, upon a default, they may in turn resell. 

  
 Annex A –
Plan of Distribution 

 The Selling Security Holders may also sell any Securities under Rule 144 rather than
with this prospectus if the sale meets the requirements of that rule. 
 In effecting sales, the Selling Security Holders may
engage broker-dealers or agents, who may in turn arrange for other broker-dealers to participate. Broker-dealers or agents may receive commissions, discounts or concessions from the Selling Security Holders and/or from the purchasers of Securities
for whom the broker-dealers may act as agents or to whom they sell as principal, or both. The compensation to a particular broker-dealer may be in excess of customary commissions. 

The Selling Security Holders, any broker-dealers or agents and any participating broker-dealers that act in connection with the sale of
the Securities covered by this prospectus may be “underwriters” under the Securities Act with respect to those Securities and will be subject to the prospectus delivery requirements of that Act, unless exempted therefrom. Any
profit that the Selling Security Holders realize, and any compensation that any broker-dealer or agent may receive in connection with any sale, including any profit realized on resale of Securities acquired as principal, may constitute underwriting
discounts and commissions. If the Selling Security Holders are deemed to be underwriters, the Selling Security Holders may be subject to certain liabilities under statutes including, but not limited to, Section 11, 12 and 17 of the Securities
Act and Section 10(b) and Rule 10b-5 under the Exchange Act. 
 The securities laws of some states may require the
Selling Security Holders to sell the Securities in those states only through registered or licensed brokers or dealers. These laws may also require that we register or qualify the Securities for sale in those states unless an exemption from
registration and qualification is available and the Selling Security Holders and we comply with that exemption. In addition, the anti-manipulation rules of Regulation M under the Securities Exchange Act of 1934 may apply to sales of Securities
in the market and to the activities of the Selling Security Holders and their affiliates. Regulation M may restrict the ability of any person engaged in the distribution of the Securities to engage in market-making activities with respect to
the Securities. All of the foregoing may affect the marketability of the Securities and the ability of any person to engage in market-making activities with respect to the Securities. 

We have agreed to indemnify the Selling Stockholders against liabilities, including liabilities under the Securities Act, the Exchange
Act and state securities laws, relating to the registration of the Shares offered by this prospectus. 

  
 Annex A –
Plan of Distribution 

 Annex B 
 A.P. PHARMA, INC. 
 Selling Securityholder Notice and Questionnaire

 The undersigned beneficial owner of common stock, $0.01 par value per share (the “Securities”), of
A.P. Pharma, Inc. (the “Company”) understands that the Company has filed or intends to file with the Securities and Exchange Commission (the “Commission”) a Registration Statement for the registration
and resale of the Registrable Securities, in accordance with the terms of the Registration Rights Agreement, dated as of July 25, 2012 (the “Registration Rights Agreement”), among the Company and the Purchasers named therein.
A copy of the Registration Rights Agreement is available from the Company upon request at the address set forth below. All capitalized terms used and not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights
Agreement. 
 The undersigned hereby provides the following information to the Company for use in preparing the Registration
Statement and any related prospectuses and represents and warrants that such information is accurate: 
  

	 	1.	Name. 

 (a) Full Legal
Name of Selling Securityholder 
  

					
	  
	 	

 (b) Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable
Securities Listed in Item 3 below are held: 
  

					
	  
	 	

 (c) Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly
alone or with others has power to vote or dispose of the securities covered by the questionnaire): 
  

					
	  
	 	

  
 Annex B –
Selling Security Holder Questionnaire 

	2.	Address for Notices to Selling Securityholder: 

  

							
		 	Name:	 	  
	 	
				
		 	Address:	 	  
	 	
			
		 	  
	 	
				
		 	Telephone:	 	  
	 	
				
		 	Fax:	 	  
	 	
				
		 	Contact Person:	 	  
	 	
				
		 	Email:	 	  
	 	

  

	3.	Beneficial Ownership of Registrable Securities: 

 (a) Type and Principal Amount of Registrable Securities Beneficially Owned: 
  

	
	  

	
	  

	
	  

  

	4.	Broker-Dealer Status: 

(a) Are you a broker-dealer? 
  

					
	Yes   ̈	  	No   ̈	 	

 Note: If yes, the Commission’s staff has indicated that you should be identified as an underwriter
in the Registration Statement. 
 (b) Are you an affiliate of a broker-dealer? 

 

					
	Yes   ̈	  	No   ̈	  	

 (c) If you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities
in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements or understandings, directly or indirectly, with any person to distribute the Registrable Securities? 

 

					
	Yes   ̈	  	No   ̈	  	

 Note: If no, the Commission’s staff has indicated that you should be identified as an underwriter in
the Registration Statement. 

  
 Annex B –
Selling Security Holder Questionnaire 

	 	5.	Beneficial Ownership of Other Securities of the Company Owned by the Selling Securityholder. 

Except as set forth below in this Item 5, the undersigned is not the beneficial or registered owner of any securities of the
Company other than the Registrable Securities listed above in Item 3. 
 Type and Amount of Other Securities
Beneficially Owned by the Selling Securityholder: 
  

	
	  

	
	  

  

	 	6.	Relationships with the Company: 

 Except as set forth below, neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the equity securities of the undersigned) has held
any position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years. 
 State any exceptions here: 
  

	
	  

	
	  

 The undersigned agrees to promptly notify the Company of any inaccuracies or changes in the information
provided herein that may occur subsequent to the date hereof and prior to the Effective Date for the Registration Statement. 

By signing below, the undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through 6
and the inclusion of such information in the Registration Statement and the related prospectus. The undersigned understands that such information will be relied upon by the Company in connection with the preparation or amendment of the Registration
Statement and the related prospectus. 

  
 Annex B –
Selling Security Holder Questionnaire 

 IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice and
Questionnaire to be executed and delivered either in person or by its duly authorized agent. 
  

									
	Dated:                     	 	Beneficial Owner:	 	  
	 		 	

							
				
		 	By:	 	  
	 	
		 		 	Name:	 	
		 		 	Title:	 	

 PLEASE FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY
OVERNIGHT MAIL, TO: 
 Ropes & Gray LLP 
 Three Embarcadero 
 San Francisco, CA 94111 

Attn: Ryan Murr, Esq. 
 Facsimile: (415) 315-6026 

  
 Annex B –
Selling Security Holder QuestionnaireIndenture

 EXHIBIT 4.1 

EXECUTION VERSION 

UNIT CORPORATION 
 and 
 WILMINGTON TRUST, NATIONAL ASSOCIATION 

as Trustee 

Indenture 

Dated as of July 24, 2012 
 Debt Securities 

 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
	ARTICLE 1	  
	DEFINITIONS	  
		
	 Section 1.01. Certain Terms Defined
	  	 	1	  
	 Section 1.02. Incorporation by Reference of Trust Indenture Act
	  	 	12	  
	 Section 1.03. Rules of Construction
	  	 	13	  
	ARTICLE 2	  
	DEBT SECURITIES	  
		
	 Section 2.01. Forms Generally
	  	 	13	  
	 Section 2.02. Form of Trustee’s Certificate of Authentication
	  	 	14	  
	 Section 2.03. Principal Amount; Issuable in Series
	  	 	15	  
	 Section 2.04. Execution of Debt Securities
	  	 	18	  
	 Section 2.05. Authentication and Delivery of Debt Securities
	  	 	19	  
	 Section 2.06. Denomination of Debt Securities
	  	 	21	  
	 Section 2.07. Registration of Transfer and Exchange
	  	 	21	  
	 Section 2.08. Temporary Debt Securities
	  	 	22	  
	 Section 2.09. Mutilated, Destroyed, Lost or Stolen Debt Securities
	  	 	23	  
	 Section 2.10. Cancellation of Surrendered Debt Securities
	  	 	24	  
	 Section 2.11. Provisions of the Indenture and Debt Securities for the Sole Benefit of the Parties and the
Holders
	  	 	25	  
	 Section 2.12. Payment of Interest; Rights Preserved
	  	 	25	  
	 Section 2.13. Securities Denominated In Foreign Currencies
	  	 	25	  
	 Section 2.14. Wire Transfers
	  	 	26	  
	 Section 2.15. Securities Issuable in the Form of a Global Security
	  	 	26	  
	 Section 2.16. Medium Term Securities
	  	 	29	  
	 Section 2.17. Defaulted Interest
	  	 	29	  
	 Section 2.18. Judgments
	  	 	30	  
	ARTICLE 3	  
	REDEMPTION OF DEBT SECURITIES	  
		
	 Section 3.01. Applicability of Article
	  	 	31	  
	 Section 3.02. Notice of Redemption; Selection of Debt Securities
	  	 	31	  
	 Section 3.03. Payment of Debt Securities Called for Redemption
	  	 	33	  
	 Section 3.04. Mandatory and Optional Sinking Funds
	  	 	34	  
	 Section 3.05. Redemption of Debt Securities for Sinking Fund
	  	 	34	  

  
 i 

					
	ARTICLE 4	  
	PARTICULAR COVENANTS OF THE COMPANY	  
		
	 Section 4.01. Payment of Principal of, and Premium If Any, and Interest on, Debt Securities
	  	 	36	  
	 Section 4.02. Maintenance of Offices or Agencies for Registration of Transfer, Exchange and Payment of Debt
Securities
	  	 	37	  
	 Section 4.03. Appointment to Fill a Vacancy in the Office of Trustee
	  	 	37	  
	 Section 4.04. Duties Of Paying Agents, etc.
	  	 	37	  
	 Section 4.05. Statement by Officers as to Default
	  	 	38	  
	 Section 4.06. Further Instruments and Acts
	  	 	39	  
	 Section 4.07. Existence
	  	 	39	  
	 Section 4.08. Maintenance of Properties
	  	 	39	  
	 Section 4.09. Payment of Taxes and Other Claims
	  	 	39	  
	
	ARTICLE 5	  
	HOLDERS’ LISTS AND REPORTS BY THE COMPANY
AND THE TRUSTEE	  
		
	 Section 5.01. Company to Furnish Trustee Information as to Names and Addresses of Holders; Preservation of
Information
	  	 	40	  
	 Section 5.02. Communications to Holders
	  	 	40	  
	 Section 5.03. Reports by Company
	  	 	40	  
	 Section 5.04. Reports by Trustee
	  	 	41	  
	 Section 5.05. Record Dates for Action by Holders
	  	 	42	  
	
	ARTICLE 6	  
	REMEDIES OF THE TRUSTEE AND HOLDERS IN
EVENT OF DEFAULT	  
		
	 Section 6.01. Events of Default
	  	 	42	  
	 Section 6.02. Collection of Indebtedness by Trustee, etc.
	  	 	45	  
	 Section 6.03. Application of Moneys Collected by Trustee
	  	 	46	  
	 Section 6.04. Limitation on Suits by Holders
	  	 	48	  
	 Section 6.05. Remedies Cumulative; Delay or Omission in Exercise of Rights Not a Waiver of Default
	  	 	48	  
	 Section 6.06. Rights of Holders of Majority in Principal Amount of Debt Securities to Direct Trustee and to Waive
Default
	  	 	49	  
	 Section 6.07. Trustee to Give Notice of Defaults Known to It, but May Withhold Such Notice in Certain
Circumstances
	  	 	49	  
	 Section 6.08. Requirement of an Undertaking to Pay Costs in Certain Suits under the Indenture or Against the
Trustee
	  	 	50	  

  
 ii 

					
	
	ARTICLE 7	  
	CONCERNING THE TRUSTEE	  
		
	 Section 7.01. Certain Duties and Responsibilities
	  	 	50	  
	 Section 7.02. Certain Rights of Trustee
	  	 	52	  
	 Section 7.03. Trustee Not Liable for Recitals in Indenture or in Debt Securities
	  	 	53	  
	 Section 7.04. Trustee, Paying Agent or Registrar May Own Debt Securities
	  	 	54	  
	 Section 7.05. Moneys Received by Trustee to Be Held in Trust
	  	 	54	  
	 Section 7.06. Compensation and Reimbursement
	  	 	54	  
	 Section 7.07. Right of Trustee to Rely on an Officers’ Certificate Where No Other Evidence Specifically
Prescribed
	  	 	55	  
	 Section 7.08. Separate Trustee; Replacement of Trustee
	  	 	55	  
	 Section 7.09. Successor Trustee by Merger
	  	 	56	  
	 Section 7.10. Eligibility; Disqualification
	  	 	57	  
	 Section 7.11. Preferential Collection of Claims Against Company
	  	 	57	  
	 Section 7.12. Compliance with Tax Laws
	  	 	57	  
	
	ARTICLE 8	  
	CONCERNING THE HOLDERS	  
		
	 Section 8.01. Evidence of Action by Holders
	  	 	58	  
	 Section 8.02. Proof of Execution of Instruments and of Holding of Debt Securities
	  	 	58	  
	 Section 8.03. Who May Be Deemed Owner of Debt Securities
	  	 	58	  
	 Section 8.04. Instruments Executed by Holders Bind Future Holders
	  	 	59	  
	
	ARTICLE 9	  
	SUPPLEMENTAL INDENTURES	  
		
	 Section 9.01. Purposes for Which Supplemental Indenture May Be Entered into Without Consent of
Holders
	  	 	60	  
	 Section 9.02. Modification of Indenture with Consent of Holders of Debt Securities
	  	 	62	  
	 Section 9.03. Effect of Supplemental Indentures
	  	 	63	  
	 Section 9.04. Debt Securities May Bear Notation of Changes by Supplemental Indentures
	  	 	64	  
	 Section 9.05. Payment for Consent
	  	 	64	  
	
	ARTICLE 10	  
	CONSOLIDATION, MERGER, SALE OR CONVEYANCE	  
		
	 Section 10.01. Consolidations and Mergers of the Company
	  	 	64	  
	 Section 10.02. Rights and Duties of Successor Corporation
	  	 	65	  

  
 iii

					
	
	ARTICLE 11	  
	 SATISFACTION AND DISCHARGE OF
INDENTURE; DEFEASANCE AND COVENANT
 DEFEASANCE;
UNCLAIMED MONEYS
	
  

  

		
	 Section 11.01. Company’s Option to Effect Defeasance or Covenant Defeasance
	  	 	65	  
	 Section 11.02. Defeasance and Discharge
	  	 	66	  
	 Section 11.03. Covenant Defeasance
	  	 	67	  
	 Section 11.04. Conditions to Defeasance or Covenant Defeasance
	  	 	67	  
	 Section 11.05. Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous
Provisions
	  	 	69	  
	 Section 11.06. Indemnity for U.S. Government Obligations
	  	 	70	  
	 Section 11.07. Reinstatement
	  	 	70	  
	 Section 11.08. Satisfaction and Discharge of Indenture
	  	 	70	  
	 Section 11.09. Application of Trust Money
	  	 	71	  
	
	ARTICLE 12	  
	SUBORDINATION OF DEBT SECURITIES	  
		
	 Section 12.01. Agreement to Subordinate
	  	 	71	  
	 Section 12.02. Liquidation, Dissolution, Bankruptcy
	  	 	72	  
	 Section 12.03. Default on Senior Indebtedness
	  	 	72	  
	 Section 12.04. Acceleration of Payment of Debt Securities
	  	 	74	  
	 Section 12.05. When Distribution Must Be Paid Over
	  	 	74	  
	 Section 12.06. Notice by the Company
	  	 	74	  
	 Section 12.07. Subrogation
	  	 	75	  
	 Section 12.08. Relative Rights
	  	 	75	  
	 Section 12.09. Subordination May Not Be Impaired by Company
	  	 	75	  
	 Section 12.10. Distribution or Notice to Representative
	  	 	75	  
	 Section 12.11. Rights of Trustee and Paying Agent
	  	 	76	  
	 Section 12.12. Authorization to Effect Subordination
	  	 	77	  
	 Section 12.13. Subordination of Subsidiary Guarantees
	  	 	77	  
	 Section 12.14. Amendment to the Subordination Provisions of the Indenture
	  	 	77	  
	
	ARTICLE 13	  
	MISCELLANEOUS PROVISIONS	  
		
	 Section 13.01. Successors and Assigns of Company Bound by Indenture
	  	 	77	  
	 Section 13.02. Acts of Board, Committee or Officer of Successor Company Valid
	  	 	77	  
	 Section 13.03. Required Notices or Demands
	  	 	77	  
	 Section 13.04. Indenture and Debt Securities to Be Construed in Accordance with the Laws of the State of New
York
	  	 	78	  
	 Section 13.05. Officers’ Certificate and Opinion of Counsel to Be Furnished upon Application or Demand by the
Company
	  	 	78	  

  
 iv 

					
	 Section 13.06. Payments Due on Legal Holidays
	  	 	79	  
	 Section 13.07. Provisions Required by Trust Indenture Act to Control
	  	 	79	  
	 Section 13.08. Computation of Interest on Debt Securities
	  	 	79	  
	 Section 13.09. Rules by Trustee, Paying Agent and Registrar
	  	 	80	  
	 Section 13.10. No Recourse Against Others
	  	 	80	  
	 Section 13.11. Severability
	  	 	80	  
	 Section 13.12. Effect of Headings
	  	 	80	  
	 Section 13.13. Indenture May Be Executed in Counterparts
	  	 	80	  

  
 v 

 UNIT CORPORATION 
 Debt Securities 
 CROSS REFERENCE SHEET* 

This Cross Reference Sheet shows the location in the Indenture of the provisions inserted pursuant to Sections 310-318(a), inclusive of
the Trust Indenture Act of 1939. 
  

			
	 TIA Section
	  	Indenture Section
	 310(a)(1)
	  	7.10
	 310(a)(2)
	  	7.10
	 310(a)(3)
	  	7.10
	 310(a)(5)
	  	7.10
	 310(b)
	  	7.10
	 310(c)
	  	N.A.**
	 311(a)
	  	7.11
	 311(b)
	  	7.11
	 311(c)
	  	N.A.
	 312(a)
	  	5.01
	 312(b)
	  	5.02
	 312(c)
	  	5.02
	 313(a)
	  	5.04
	 313(b)(1)
	  	5.04
	 313(b)(2)
	  	5.04
	 313(c)
	  	12.03
	 313(d)
	  	5.04
	 314(a)(1)
	  	5.03(a)
	 314(a)(2)
	  	5.03(b)
	 314(a)(3)
	  	5.03(a) & (b) & 12.03
	 314(a)(4)
	  	5.04
	 314(b)
	  	N.A.
	 314(c)(1)
	  	12.05
	 314(c)(2)
	  	12.05
	 314(c)(3)
	  	N.A.
	 314(d)
	  	N.A.
	 314(e)
	  	12.05
	 314(f)
	  	4.06
	 315(a)
	  	7.01(a)
	 315(b)
	  	6.07 & 12.03
	 315(c)
	  	7.01
	 315(d)
	  	7.01
	 315(e)
	  	6.08

  
 vi 

			
	 316(a)(last sentence).
	  	1.01
	 316(a)(1)(A)
	  	6.06
	 316(a)(1)(B)
	  	6.06
	 316(a)(2)
	  	9.01(d)
	 316(b)
	  	6.04
	 316(c)
	  	5.05
	 317(a)(1)
	  	6.02
	 317(a)(2)
	  	6.02
	 317(b)
	  	4.04
	 318(a)
	  	12.08

  

	*	The Cross Reference Sheet is not part of the Indenture. 

	**	N.A. means “Not Applicable.” 

  
 vii

 INDENTURE dated as of July 24, 2012 between UNIT CORPORATION, a corporation duly
organized and existing under the laws of the State of Delaware (hereinafter sometimes called the “Company”), and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association (hereinafter sometimes called the
“Trustee”). 
 RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its debentures, notes, bonds or other evidences of indebtedness to be issued
in one or more series unlimited as to principal amount (herein called the “Debt Securities”), as in this Indenture provided. 
 All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH 
 That in order to declare the terms and
conditions upon which the Debt Securities are authenticated, issued and delivered, and in consideration of the premises, and of the purchase and acceptance of the Debt Securities by the holders thereof, the Company and the Trustee covenant and agree
with each other, for the benefit of the respective Holders from time to time of the Debt Securities or any series thereof, as follows: 
 ARTICLE 1 
 DEFINITIONS 

Section 1.01. Certain Terms Defined. The terms defined in this Section 1.01 (except as herein otherwise expressly provided or
unless the context otherwise requires) for all purposes of this Indenture and of any Indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. All other terms used in this Indenture which are defined in
the Trust Indenture Act or which are by reference therein defined in the Securities Act (except as herein otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in the Trust Indenture
Act and in the Securities Act as in force as of the date of original execution of this Indenture. 

“Affiliate” of any specified Person means any other Person, directly or indirectly, controlling or controlled by or
under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and

 
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. 
 “Bank Indebtedness” means any and
all amounts payable under or in respect of (i) the Credit Agreement, as supplemented, amended, modified, refinanced or replaced at any time from time to time, and (ii) any lines of credit and letters of credit of the Company, in each case,
including principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company whether or not a claim for post-filing interest is allowed in such
proceedings), fees, charges, expenses, reimbursement obligations, guarantees and all other amounts payable thereunder or in respect thereof. 
 “Banks” has the meaning specified in the Credit Agreement. 

“Board of Directors” means either the Board of Directors of the Company or any duly authorized committee or subcommittee
of such Board, except as the context may otherwise require. 
 “business day” means any day that is not a
Saturday, a Sunday or legal holiday and, with respect to any Place of Payment specified pursuant to Section 2.03, any other day on which banking institutions or trust companies in such Place of Payment are authorized or obligated by law or
executive order to close. 
 “Cash Equivalents” means: 

(i) securities issued or directly and fully guaranteed or insured by the United States Government or any agency or instrumentality of the
United States (provided that the full faith and credit of the United States is pledged in support thereof), having a maturity within one year after the date of acquisition thereof; 

(ii) marketable general obligations issued by any state of the United States of America or any political subdivision of any such state or
any public instrumentality thereof maturing within one year after the date of acquisition thereof and, at the time of such acquisition, having a credit rating of at least “A” or the equivalent thereof from either Standard &
Poor’s Ratings Services or Moody’s Investors Service, Inc. (or an equivalent rating by another nationally recognized rating agency if both of the two named rating agencies cease publishing ratings of investments); 

(iii) certificates of deposit, time deposits, eurodollar time deposits, overnight bank deposits or bankers’ acceptances having
maturities of not more than one year after the date of acquisition thereof issued by any commercial bank the long-term debt of which is rated at the time of acquisition at least “A” or the

  
 2 

 
equivalent thereof by Standard & Poor’s Ratings Services, or “A” or the equivalent thereof by Moody’s Investors Service, Inc. (or an equivalent rating by another
nationally recognized rating agency if both of the two named rating agencies cease publishing ratings of investments), and having combined capital and surplus in excess of $500 million; 

(iv) repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses (i),
(ii) and (iii) above entered into with any bank meeting the qualifications specified in clause (iii) above; 

(v) commercial paper rated at the time of acquisition thereof at least “A-2” or the equivalent thereof by
Standard & Poor’s Ratings Services or “P-2” or the equivalent thereof by Moody’s Investors Service, Inc. (or an equivalent rating by another nationally recognized rating agency if both of the two named rating agencies
cease publishing ratings of investments), and in any case maturing within one year after the date of acquisition thereof; and 

(vi) interests in any investment company or money market fund which invests 95% or more of its assets in instruments of the type
specified in clauses (i) through (v) above. 
 “Capitalized Lease Obligation” means an obligation
that is required to be classified and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP; and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation
determined in accordance with GAAP; and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment
of a penalty. 
 “Capital Stock” of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests (including partnership interests) in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity.

 “Common Stock” means the common stock ($0.20 par value), of the Company, which stock is currently listed on
the New York Stock Exchange. 
 “Company” means Unit Corporation a Delaware corporation, and, subject to the
provisions of Article 10, shall also include its successors and assigns. 

  
 3 

 “Company Order” means a written order of the Company, signed by its
Chairman of the Board, President or any Vice President and by its Treasurer, Secretary, any Assistant Treasurer or any Assistant Secretary. 
 “corporate trust office of the Trustee” or other similar term means the office of the Trustee at which the corporate trust business of the Trustee shall, at any particular time, be
principally administered in the United States of America, which office is currently located at 246 Goose Lane, Suite 105, Guilford, CT 06437, Attention: Unit Corporation Administrator. 

“Credit Agreement” means the First Amended and Restated Senior Credit Agreement dated May 24, 2007, as may be
amended from time to time, among the Company and certain of its subsidiaries, each as a Borrower, and the Banks party thereto, as supplemented, amended, modified, refinanced or replaced at any time from time to time. 

“Currency” means Dollars or Foreign Currency. 
 “Debt Security” or “Debt Securities” has the meaning stated in the first recital of this Indenture and more particularly means any debt security or debt securities, as
the case may be, of any series authenticated and delivered under this Indenture. 
 “Debt Security Register”
has the meaning specified in Section 2.07(a). 
 “Default” means any event which is, or after notice or
passage of time or both would be, an Event of Default. 
 “Depositary” means, unless otherwise specified by the
Company pursuant to either Section 2.03 or 2.15, with respect to registered Debt Securities of any series issuable or issued in whole or in part in the form of one or more Global Securities, The Depository Trust Company, New York, New York, or
any successor thereto registered as a clearing agency under the Exchange Act or other applicable statute or regulations. 

“Designated Senior Indebtedness” means (i) the Bank Indebtedness and (ii) any other Senior Indebtedness.

 “Disqualified Stock” of a Person means Redeemable Stock of such Person as to which the maturity, mandatory
redemption, conversion or exchange or redemption at the option of the holder thereof occurs, or may occur, on or prior to the first anniversary of the Stated Maturity of the Debt Securities of the applicable series. 

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

  
 4 

 “Dollar Equivalent” means, with respect to any monetary amount in a Foreign
Currency, at any time for the determination thereof, the amount of Dollars obtained by converting such Foreign Currency involved in such computation into Dollars at the spot rate for the purchase of Dollars with the applicable Foreign Currency as
quoted by Merrill Lynch, Pierce, Fenner & Smith Incorporated (unless another comparable financial institution is designated by the Company) in New York, New York at approximately 11:00 a.m. (New York time) on the date two business days
prior to such determination. 
 “Event of Default” has the meaning specified in Section 6.01. 

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

“Floating Rate Security” means a Debt Security that provides for the payment of interest at a variable rate determined
periodically by reference to an interest rate index or formula specified pursuant to Section 2.03. 
 “Foreign
Currency” means a currency issued or adopted by the government of any country other than the United States or a composite currency the value of which is determined by reference to the values of the currencies of any group of countries.

 “GAAP” means generally accepted accounting principles in the United States as in effect as of the date on
which the Debt Securities of the applicable series are issued, including those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and
pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as approved by a significant segment of the accounting profession. All ratios and computations based on GAAP contained in this Indenture
shall be computed in conformity with GAAP consistently applied. 
 “Global Security” means, with respect to any
series of Debt Securities issued hereunder, a Debt Security which is executed by the Company and authenticated and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with this Indenture and
any Indentures supplemental hereto, or resolution of the Board of Directors and set forth in an officers’ Certificate, which shall be registered in the name of the Depositary or its nominee and which shall represent, and shall be denominated in
an amount equal to the aggregate principal amount of, all the Outstanding Debt Securities of such series or any portion thereof, in either case having the same terms, including, without limitation, the same original issue date, date or dates on
which principal is due and interest rate or method of determining interest. 

  
 5 

 “Guarantee” means any obligation, contingent or otherwise, of any Person
directly or indirectly guaranteeing any Indebtedness or other obligation of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase or pay (or advance or supply funds for the purchase or
payment of) such Indebtedness or other obligation of such other Person or (ii) entered into for purposes of assuring in any other manner the obligee of such Indebtedness or other obligation of the payment thereof or to protect such obligee
against loss in respect thereof (in whole or in part); provided, however, that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee”
used as a verb has a corresponding meaning. 
 “Holder,” “Holder of Debt Securities” or other
similar terms mean, with respect to a Registered Security, the Registered Holder. 
 “Incur” means issue,
assume, Guarantee, incur or otherwise become liable for; provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, consolidation, acquisition or
otherwise) shall be deemed to be incurred by such Subsidiary at the time it becomes a Subsidiary. The terms “Incurred”, “Incurrence” and “Incurring” shall each have a correlative meaning.

 “Indebtedness” means, with respect to any Person on any date of determination (without duplication),

 (i) the principal of Indebtedness of such Person for borrowed money; 

(ii) the principal of obligations of such Person evidenced by bonds, debentures, notes or other similar instruments; 

(iii) all Capitalized Lease Obligations of such Person; 
 (iv) all obligations of such Person to pay the deferred and unpaid purchase price of property or services (except Trade Payables); 
 (v) all obligations of such Person in respect of letters of credit, banker’s acceptances or other similar instruments or credit transactions (including reimbursement obligations with respect
thereto), other than obligations with respect to letters of credit securing obligations (other than obligations described in (i) through (iv) above) entered into in the ordinary course of business of such Person to the extent such letters
of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the third business day following receipt by such Person of a demand for reimbursement following payment on the letter of credit; 

  
 6 

 (vi) the amount of all obligations of such Person with respect to the redemption, repayment
or other repurchase of any Disqualified Stock (but excluding, in each case, any accrued dividends); 
 (vii) all Indebtedness of
other Persons secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person; provided, however, that the amount of such Indebtedness shall be the lesser of (A) the fair market value of
such asset at such date of determination or (B) the amount of such Indebtedness of such other Persons; and 
 (viii) all
Indebtedness of other Persons to the extent Guaranteed by such Person. 
 For purposes of this definition, the maximum fixed
redemption, repayment or repurchase price of any Disqualified Stock or Preferred Stock that does not have a fixed redemption, repayment or repurchase price shall be calculated in accordance with the terms of such Stock as if such Stock were
redeemed, repaid or repurchased on any date on which Indebtedness shall be required to be determined pursuant to this Indenture; provided, however, that if such Stock is not then permitted to be redeemed, repaid or repurchased, the
redemption, repayment or repurchase price shall be the book value of such Stock as reflected in the most recent financial statements of such Person. The amount of Indebtedness of any Person at any date shall be the outstanding balance at such date
of all unconditional obligations as described above and the maximum liability, upon the occurrence of the contingency giving rise to the obligation, of any contingent obligations at such date. 

“Indenture” means this instrument as originally executed, or, if amended or supplemented as herein provided, as so
amended or supplemented and shall include the form and terms of particular series of Debt Securities as contemplated hereunder, whether or not a supplemental Indenture is entered into with respect thereto. 

“Issue Date” means, with respect to any series of Debt Securities, the date upon which such Debt Securities first were
issued and authenticated under this Indenture and any Indenture supplemental hereto. 
 “Lien” means any
mortgage, pledge, security interest, encumbrance, lien or charge of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof). 

“Officers’ Certificate” means a certificate signed by the Chairman of the Board, the President, principal executive
officer, or any Vice President and by the Treasurer, chief accounting officer, principal financial officer, the Secretary or any Assistant Treasurer or Assistant Secretary of the Company. Each such certificate shall include the statements provided
for in Section 13.05, if applicable. 

  
 7 

 “Opinion of Counsel” means an opinion in writing signed by legal counsel
for the Company (which counsel may be an employee of the Company), or outside counsel for the Company. Each such opinion shall include the statements provided for in Section 13.05, if applicable. 

“Original Issue Discount Debt Security” means any Debt Security which provides for an amount less than the principal
amount thereof to be due and payable upon a declaration or acceleration of the maturity thereof pursuant to Section 6.01. 

“Outstanding” when used with respect to any series of Debt Securities, means, as of the date of determination, all Debt
Securities of that series theretofore authenticated and delivered under this Indenture, except: 
 (i) Debt Securities of that
series theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 
 (ii) Debt Securities of that series
for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any paying agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its
own paying agent) for the holders of such Debt Securities; provided, that, if such Debt Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee
has been made; and 
 (iii) Debt Securities of that series which have been paid pursuant to Section 2.09 or in exchange for
or in lieu of which other Debt Securities have been authenticated and delivered pursuant to this Indenture, other than any such Debt Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such
Debt Securities are held by a bona fide purchaser in whose hands such Debt Securities are valid obligations of the Company; 
 provided,
however, that in determining whether the Holders of the requisite principal amount of the Outstanding Debt Securities of any series have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Debt Securities
owned by the Company or any other obligor upon the Debt Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in
relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Debt Securities which the Trustee knows to be so owned shall be so disregarded. Debt Securities so owned which have been pledged in good faith may be
regarded as Outstanding if the 

  
 8 

 
pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Debt Securities and that the pledgee is not the Company or any other obligor upon
the Debt Securities or an Affiliate of the Company or of such other obligor. 
 In determining whether the Holders of the
requisite principal amount of outstanding Debt Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of an Original Issue Discount Debt Security that shall be deemed to be
Outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the maturity thereof pursuant to Section 6.01. In determining
whether the Holders of the requisite principal amount of the Outstanding Debt Securities of any series have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of a Debt Security denominated
in one or more Foreign Currencies that shall be deemed to be Outstanding for such purposes shall be the Dollar Equivalent, determined in the manner provided as contemplated by Section 2.03 on the date of original issuance of such Debt Security,
of the principal amount (or, in the case of any Original Issue Discount Security, the Dollar Equivalent on the date of original issuance of such Debt Security of the amount determined as provided in the preceding sentence above) of such Debt
Security. 
 “pari passu”, as applied to the ranking of any Indebtedness of a Person in relation to other
Indebtedness of such Person, means that each such Indebtedness either (i) is not subordinate in right of payment to any Indebtedness or (ii) is subordinate in right of payment to the same Indebtedness as is the other, and is so subordinate
to the same extent, and is not subordinate in right of payment to each other or to any Indebtedness as to which the other is not so subordinate. 
 “Person” means any individual, corporation, partnership, joint venture, association, limited liability company, joint stock company, trust, unincorporated organization, government or any
agency or political subdivision thereof or any other entity. 
 “Place of Payment” means, when used with
respect to the Debt Securities of any series, the place or places where the principal of, and premium, if any, and interest on, the Debt Securities of that series are payable as specified pursuant to Section 2.03. 

“Preferred Stock” as applied to the Capital Stock of any corporation, means Capital Stock of any class or classes
(however designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such corporation, over shares of Capital Stock of any other class of such
corporation. 

  
 9 

 “Redeemable Stock” means, with respect to any Person, any Capital Stock
which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event (i) matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise,
(ii) is convertible or exchangeable for Indebtedness (other than Preferred Stock) or Disqualified Stock or (iii) is redeemable at the option of the holder thereof, in whole or in part. 

“Registered Holder” means the Person in whose name a Registered Security is registered in the Debt Security Register (as
defined in Section 2.07(a)). 
 “Registered Security” means any Debt Security registered as to principal
and interest in the Debt Security Register (as defined in Section 2.07(a)). 
 “Registrar” has the meaning
set forth in Section 2.07(a). 
 “Representative” means the trustee, agent or representative (if any) for
an issue of Indebtedness. 
 “responsible officer” means, when used with respect to the Trustee, any officer
within the corporate trust office of the Trustee, including, the President, any Vice President, any Second Vice President, any Assistant Vice President, the Secretary, any senior trust officer, any trust officer or any other officer of the Trustee
performing functions similar to those performed by the persons who at the time shall be such officers, and any other officer of the Trustee to whom corporate trust matters are referred because of his knowledge of and familiarity with the particular
subject. 
 “Secured Indebtedness” means any Indebtedness of the Company secured by a Lien. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Senior Indebtedness” means, as to any series of Debt Securities subordinated pursuant to the provisions of Article 12,
the Indebtedness of the Company identified as Senior Indebtedness in the resolution of the Board of Directors and accompanying Officers’ Certificate or supplemental Indenture setting forth the terms, including as to subordination, of such
series. 
 “Senior Subordinated Indebtedness” means the Debt Securities and any other Indebtedness of the
Company that specifically provides that such Indebtedness is to rank equally with the Debt Securities in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of the Company which is not
Senior Indebtedness. 

  
 10 

 “Stated Maturity” means, with respect to any security, the date specified
in such security as the fixed date on which the payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the
option of the holder thereof upon the happening of any contingency beyond the control of the issuer unless such contingency has occurred). 
 “Subsidiary” of any Person means any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled
(without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person, (ii) such Person and one or more
Subsidiaries of such Person or (iii) one or more Subsidiaries of such Person. 
 “Significant Subsidiary”
of any Person means any Subsidiary that accounts for (a) 10% or more of the total consolidated assets of the Company and its Subsidiaries as of any date of determination, or (b) 10% or more of the total consolidated revenues of the Company
and its Subsidiaries for the Company’s most recently concluded fiscal quarter. 
 “Temporary Cash
Investments” means any of the following: (i) investments in U.S. Government Obligations maturing within 90 days of the date of acquisition thereof, (ii) investments in time deposit accounts, certificates of deposit and money
market deposits maturing within 90 days of the date of acquisition thereof issued by a bank or trust company which is organized under the laws of the United States, any State thereof or any foreign country recognized by the United States having
capital, surplus and undivided profits aggregating in excess of $500,000,000 (or the Dollar Equivalent thereof) and whose long-term debt is rated “A” or higher according to Moody’s Investors Service, Inc. (or such similar equivalent
rating by at least one “nationally recognized statistical rating organization” (as defined in Rule 436 under the Securities Act)), (iii) repurchase obligations with a term of not more than 7 days for underlying securities of the types
described in clause (i) above entered into with a bank meeting the qualifications described in clause (ii) above and (iv) investments in commercial paper, maturing not more than 90 days after the date of acquisition, issued by a
corporation (other than an Affiliate of the Company) organized and in existence under the laws of the United States or any foreign country recognized by the United States with a rating at the time as of which any investment therein is made of
“P-1” (or higher) according to Moody’s Investors Service, Inc. or “A-1” (or higher) according to Standard and Poor’s Corporation. 
 “Trade Payables” means, with respect to any Person, any accounts payable or any Indebtedness or monetary obligation to trade creditors created, assumed or Guaranteed by such Person
arising in the ordinary course of business of such Person in connection with the acquisition of goods or services. 

  
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 “Trustee” initially means Wilmington Trust, National Association and any
other Person or Persons appointed as such from time to time pursuant to Section 7.08, and, subject to the provisions of Article 7, includes its or their successors and assigns. If at any time there is more than one such Person,
“Trustee” as used with respect to the Debt Securities of any series shall mean the Trustee with respect to the Debt Securities of that series. 
 “Trust Indenture Act” (except as herein otherwise expressly provided) means the Trust Indenture Act of 1939 as in force at the date of this indenture as originally executed and, to the
extent required by law, as amended. 
 “United States” means the United States of America (including the States
and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. 
 “U.S.
Government Obligations” means securities that are (x) direct obligations of the United States for the payment of which its full faith and credit is pledged or (y) obligations of a Person controlled or supervised by and acting as
an agency or instrumentality of the United States, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States, which, in either case, are not callable or redeemable at the option of the issuer
thereof. 
 “Yield to Maturity” means the yield to maturity calculated at the time of issuance of a series of
Debt Securities, or, if applicable, at the most recent redetermination of interest on such series and calculated in accordance with accepted financial practice. 
 Section 1.02. Incorporation by Reference of Trust Indenture Act. This Indenture is subject to the mandatory provisions of the Trust Indenture Act which are incorporated by reference in and made a
part of this indenture. The following Trust Indenture Act terms have the following meanings: 
 “indenture
securities” means the Debt Securities. 
 “indenture security holder” means a Holder. 

“indenture to be qualified” means this Indenture. 

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

“obligor” on the indenture securities means the Company and any other obligor on the Debt Securities. 

  
 12 

 All other Trust Indenture Act terms used in this Indenture that are defined by the Trust
indenture Act, reference to another statute or defined by rules of the Securities and Exchange Commission have the meanings assigned to them by such definitions. 
 Section 1.03. Rules of Construction. Unless the context otherwise requires: 

(a) a term has the meaning assigned to it; 
 (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
 (c) “or” is not exclusive; 
 (d) “including” means including
without limitation; 
 (e) words in the singular include the plural and words in the plural include the singular; 

(f) if the applicable series of Debt Securities are subordinated pursuant to Article 12, unsecured indebtedness shall not be deemed to be
subordinate or junior to Secured Indebtedness merely by virtue of its nature as unsecured indebtedness; 
 (g) except as
otherwise provided in the definition of “Outstanding” contained in Section 1.01 hereunder, the principal amount of any noninterest bearing or other discount security at any date shall be the principal amount thereof that would be
shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; and 
 (h) the principal amount of any
Preferred Stock shall be the greater of (i) the maximum liquidation value of such Preferred Stock or (ii) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock. 

ARTICLE 2 

DEBT SECURITIES 
 Section 2.01. Forms Generally. The Debt Securities of each series shall be in substantially the form established without the approval of any Holder by or pursuant to a resolution of the Board of
Directors or in one or more Indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture,

  
 13 

 
and may have such letters, numbers or other marks of identification or designation and such legends or endorsements placed thereon as the Company may deem appropriate and as are not inconsistent
with the provisions of this Indenture, or as may be required or appropriate to comply with any law or with any rules made pursuant thereto or with any rules of any securities exchange on which such series of Debt Securities may be listed, or to
conform to general usage, or as may, consistently herewith, be determined by the officers executing such Debt Securities as evidenced by their execution of the Debt Securities. 

The definitive Debt Securities of each series shall be printed, lithographed or engraved on steel engraved borders or may be produced in
any other manner, all as determined by the officers executing such Debt Securities, as evidenced by their execution of such Debt Securities. 
 Section 2.02. Form of Trustee’s Certificate of Authentication. The Trustee’s Certificate of Authentication on all Debt Securities authenticated by the Trustee shall be in substantially
the following form: 

  
 14 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	 Wilmington Trust, National Association,

 as Trustee

		
	By:	 	 
		 	Authorized Officer

 Section 2.03. Principal Amount; Issuable in Series. The aggregate principal amount of Debt
Securities which may be issued, executed, authenticated, delivered and outstanding under this Indenture is unlimited. 
 The
Debt Securities may be issued in one or more series. There shall be established, without the approval of any Holders, in or pursuant to a resolution of the Board of Directors and set forth in an Officers’ Certificate, or established in one or
more Indentures supplemental hereto, prior to the issuance of Debt Securities of any series any or all of the following: 
 (a)
the title of the Debt Securities of the series (which shall distinguish the Debt Securities of the series from all other Debt Securities); 
 (b) any limit upon the aggregate principal amount of the Debt Securities of the series which may be authenticated and delivered under this Indenture (except for Debt Securities authenticated and delivered
upon registration of transfer of, or in exchange for, or in lieu of, other Debt Securities of the series pursuant to this Article 2); 
 (c) the date or dates on which the principal and premium, if any, of the Debt Securities of the series are payable; 
 (d) the rate or rates (which may be fixed or variable) at which the Debt Securities of the series shall bear interest, if any, or the method of determining such rate or rates, the date or dates from which
such interest shall accrue, the interest payment dates on which such interest shall be payable, or the method by which such date will be determined, in the case of Registered Securities, the record dates for the determination of Holders thereof to
whom such interest is payable; and the basis upon which interest will be calculated if other than that of a 360-day year of twelve thirty-day months; 

  
 15 

 (e) the Place or Places of Payment, if any, in addition to or instead of the corporate trust
office of the Trustee where the principal of, and interest on, Debt Securities of the series shall be payable; 
 (f) the price
or prices at which, the period or periods within which and the terms and conditions upon which Debt Securities of the series may be redeemed, in whole or in part, at the option of the Company or otherwise; 

(g) the obligation, if any, of the Company to redeem, purchase or repay Debt Securities of the series pursuant to any sinking fund or
analogous provisions or at the option of a Holder thereof, and the price or prices at which and the period or periods within which and the terms and conditions upon which Debt Securities of the series shall be redeemed, purchased or repaid, in whole
or in part, pursuant to such obligations; 
 (h) the terms, if any, upon which the Debt Securities of the series may be
convertible into or exchanged for Common Stock, Preferred Stock (which may be represented by depositary shares), other Debt Securities or warrants for Common Stock, Preferred Stock or Indebtedness or other securities of any kind of the Company or
any other obligor or issuer and the terms and conditions upon which such conversion or exchange shall be effected, including the initial conversion or exchange price or rate, the conversion or exchange period and any other provision in addition to
or in lieu of those described herein; 
 (i) if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which Debt Securities of the series shall be issuable; 
 (j) if the amount of principal of or any premium or
interest on Debt Securities of the series may be determined with reference to an index or pursuant to a formula, the manner in which such amounts will be determined; 
 (k) if the principal amount payable at the Stated Maturity of Debt Securities of the series will not be determinable as of any one or more dates prior to such Stated Maturity, the amount which will be
deemed to be such principal amount as of any such date for any purpose, including the principal amount thereof which will be due and payable upon any maturity other than the Stated Maturity or which will be deemed to be Outstanding as of any such
date (or, in any such case, the manner in which such deemed principal amount is to be determined); and the manner of determining the equivalent thereof in the currency of the United States of America for purposes of the definition of Dollar
Equivalent; 
 (l) any changes or additions to Article 11, including the addition of additional covenants that may be subject to
the covenant defeasance option pursuant to Section 11.03; 

  
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 (m) if other than such coin or Currency of the United States as at the time of payment is
legal tender for payment of public and private debts, the coin or Currency or Currencies or units of two or more Currencies in which payment of the principal of and premium, if any, and interest on, Debt Securities of the series shall be payable;

 (n) if other than the principal amount thereof, the portion of the principal amount of Debt Securities of the series which
shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01 or provable in bankruptcy pursuant to Section 6.02; 
 (o) the terms, if any, of the transfer, mortgage, pledge or assignment as security for the Debt Securities of the series of any properties, assets, moneys, proceeds, securities or other collateral,
including whether certain provisions of the Trust Indenture Act are applicable and any corresponding changes to provisions of this Indenture as currently in effect; 
 (p) any addition to or change in the Events of Default with respect to the Debt Securities of the series and any change in the right of the Trustee or the Holders to declare the principal of and interest
on, such Debt Securities due and payable; 
 (q) if the Debt Securities of the series shall be issued in whole or in part in the
form of a Global Security or Securities, the terms and conditions, if any, in addition to or in lieu of the terms and conditions set forth in Section 2.15(c), upon which such Global Security or Securities may be exchanged in whole or in part
for other individual Debt Securities in definitive registered form; and the Depositary for such Global Security or Securities and the form of any legend or legends to be borne by any such Global Security or Securities in addition to or in lieu of
the legend referred to in Section 2.15; 
 (r) any trustees, authenticating or paying agents, transfer agents or
registrars; 
 (s) the applicability of, and any addition to or change in the covenants and definitions currently set forth in
this Indenture or in the terms currently set forth in Article 10, including conditioning any merger, conveyance, transfer or lease permitted by Article 10 upon the satisfaction of an Indebtedness coverage standard by the Company and Successor
Company (as defined in Article 10); 
 (t) the terms, if any, of any Guarantee of the payment of principal of, and premium, if
any, and interest on, Debt Securities of the series and any corresponding changes to the provisions of this Indenture as currently in effect; 

  
 17 

 (u) the subordination, if any, of the Debt Securities of the series pursuant to Article 12
and any changes or additions to Article 12 with respect to such Debt Securities; 
 (v) with regard to Debt Securities of the
series that do not bear interest, the dates for certain required reports to the Trustee; 
 (w) any material United States
federal income tax consequences or other special considerations applicable to the Debt Securities of the series; and 
 (x) any
other terms of the Debt Securities of the series (which terms shall not be prohibited by the provisions of this Indenture). 

All Debt Securities of any one series appertaining thereto shall be substantially identical except as to denomination and except as may
otherwise be provided in or pursuant to such resolution of the Board of Directors and as set forth in such Officers’ Certificate or in any such Indenture supplemental hereto. 

Unless otherwise expressly provided with respect to a series of Debt Securities, the aggregate principal amount of a series of Debt
Securities may be increased by or pursuant to a resolution of the Board of Directors and additional Debt Securities of such series may be issued up to the increased maximum aggregate principal amount so authorized. 

Section 2.04. Execution of Debt Securities. The Debt Securities shall be signed on behalf of the Company by its Chairman of the
Board, its Vice Chairman, its President or a Vice President and by its Secretary, an Assistant Secretary, a Treasurer or an Assistant Treasurer. Such signatures upon the Debt Securities may be the manual or facsimile signatures of the present or any
future such authorized officers and may be imprinted or otherwise reproduced on the Debt Securities. The seal of the Company, if any, may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the
Debt Securities. 
 Only such Debt Securities as shall bear thereon a certificate of authentication substantially in the form
hereinbefore recited, signed manually by an authorized officer of the Trustee, shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee upon any Debt Security executed by the
Company shall be conclusive evidence that the Debt Security so authenticated has been duly authenticated and delivered hereunder. 
 In case any officer of the Company who shall have signed any of the Debt Securities shall cease to be such officer before the Debt Securities so signed shall have been authenticated and delivered by the
Trustee, or disposed of by the 

  
 18 

 
Company, such Debt Securities nevertheless may be authenticated and delivered or disposed of as though the Person who signed such Debt Securities had not ceased to be such officer of the Company;
and any Debt Security may be signed on behalf of the Company by such Persons as, at the actual date of the execution of such Debt Security, shall be the proper officers of the Company, although at the date of such Debt Security or of the execution
of this Indenture any such Person was not such officer. 
 Section 2.05. Authentication and Delivery of Debt Securities.
At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Debt Securities of any series executed by the Company to the Trustee for authentication, and the Trustee shall thereupon authenticate
and deliver said Debt Securities pursuant to a Company Order. In authenticating such Debt Securities and accepting the additional responsibilities under this Indenture in relation to such Debt Securities, the Trustee shall be entitled to receive,
and (subject to Section 7.01.) shall be fully protected in relying upon: 
 (a) a copy of any resolution or resolutions of
the Board of Directors, certified by the Secretary or Assistant Secretary of the Company, authorizing the terms of issuance of the series of Debt Securities; 
 (b) an executed supplemental Indenture, if any; 
 (c) an Officers’
Certificate prepared pursuant to Section 13.05 and, if applicable, pursuant to Sections 2.03 and 9.03; and 
 (d) an
opinion of Counsel prepared in accordance with Section 13.05 which shall also state: 
 (i) that the form of
such Debt Securities has been established by or pursuant to a resolution of the Board of Directors or by a supplemental Indenture as permitted by Section 2.01 in conformity with the provisions of this Indenture; 

(ii) that the terms of such Debt Securities have been established by or pursuant to a resolution of the Board of Directors
or by a supplemental Indenture as permitted by Section 2.03 in conformity with the provisions of this Indenture, and, in the case of the issuance of Debt Securities pursuant to Section 2.16, the terms of such Debt Securities that have been
established by or pursuant to a resolution of the Board of Directors or by a supplemental Indenture have been established as permitted by Section 2.03 in conformity with the provisions of the Indenture and, when such other terms as are to be
established pursuant to procedures set forth in a Company Order or pursuant to such other procedures as shall have been provided for with respect to such Debt Securities shall have been established, all such terms will have been established in
conformity with the provisions of this Indenture; 

  
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 (iii) that such Debt Securities, when authenticated and delivered by the
Trustee and issued by the Company in the manner and subject to any conditions specified in such opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms except as the
enforceability thereof may be limited by (i) bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity, whether such principles are considered
in a proceeding at law or in equity; 
 (iv) that the Company has the corporate power to issue such Debt
Securities and has duly taken all necessary corporate action with respect to such issuance; 
 (v) that the
issuance of such Debt Securities will not contravene the charter or by-laws of the Company or result in any material violation of any of the terms or provisions of any law or regulation or of any indenture, mortgage or other agreement known to such
counsel by which the Company is bound; 
 (vi) that authentication and delivery of such Debt Securities and the
execution and delivery of any supplemental Indenture will not violate the terms of this Indenture; and 
 (vii)
such other matters as the Trustee may reasonably request. 
 Such Opinion of Counsel need express no opinion as to whether a
court in the United States would render a money judgment in a currency other than that of the United States. 
 The Trustee
shall have the right to decline to authenticate and deliver any Debt Securities under this Section 2.05 if the Trustee, being advised by counsel, determines that such action may not lawfully be taken or if the Trustee in good faith by its board
of directors or trustees, executive committee or a trust committee of directors or trustees and/or vice presidents shall determine that such action would expose the Trustee to personal liability to existing Holders or would adversely affect the
Trustee’s rights, duties, obligations or immunities under this Indenture in a manner which is not reasonably acceptable to the Trustee. 
 The Trustee may appoint an authenticating agent reasonably acceptable to the Company to authenticate Debt Securities of any series. Unless limited by the terms of such appointment, an authenticating agent
may authenticate Debt 

  
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Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as
any Registrar, paying agent or agent for service of notices and demands. 
 Unless otherwise provided in the form of Debt
Security for any series, each Debt Security shall be dated the date of its authentication. 
 Section 2.06. Denomination of
Debt Securities. Unless otherwise provided in the form of Debt Security for any series, the Debt Securities of each series shall be issuable only as Registered Securities in such denominations as shall be specified or contemplated by
Section 2.03. In the absence of any such specification with respect to the Debt Securities of any series, the Debt Securities of such series shall be issuable in denominations of $1,000 and any integral multiple thereof. 

Section 2.07. Registration of Transfer and Exchange. 
 (a) The Company shall keep or cause to be kept a register for each series of Registered Securities issued hereunder (hereinafter collectively referred to as the “Debt Security Register”),
in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Registered Securities and the registration of transfer or exchange of Registered Securities as in this Article 2 provided. At all
reasonable times the Debt Security Register shall be open for inspection by the Trustee. Subject to Section 2.15, upon due presentment for registration of transfer of any Registered Security at any office or agency to be maintained by the
Company in accordance with the provisions of Section 4.02, the Company shall execute and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Registered Security or Registered Securities of the same
series, for a like aggregate principal amount and tenor, in authorized denominations. 
 Unless and until otherwise determined
by the Company by resolution of the Board of Directors, the register of the Company for the purpose of registration, exchange or registration of transfer of the Registered Securities shall be kept at the corporate trust office of the Trustee and,
for this purpose, the Trustee shall be designated “Registrar”. 
 Registered Securities of any series (other
than a Global Security) may be exchanged for a like aggregate principal amount and tenor of Registered Securities of the same series of other authorized denominations. Subject to Section 2.15, Registered Securities to be exchanged shall be
surrendered at the office or agency to be maintained by the Company as provided in Section 4.02, and the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor the Registered Security or Registered Securities
which the Holder making the exchange shall be entitled to receive. 

  
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 (b) All Registered Securities presented or surrendered for registration of transfer,
exchange or payment shall (if so required by the Company, the Trustee or the Registrar) be duly endorsed or be accompanied by a written instrument or instruments of transfer, in form satisfactory to the Company, the Trustee and the Registrar, duly
executed by the Registered Holder or his attorney duly authorized in writing. 
 All Debt Securities issued in exchange for or
upon transfer of Debt Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture as the Debt Securities surrendered for such exchange or transfer. No service charge
shall be made for any exchange or registration of transfer of Debt Securities (except as provided by Section 2.09), but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto, other than those expressly provided in this Indenture to be made at the Company’s own expense or without expense or without charge to the Holders. 
 The Company shall not be required (a) to issue, register the transfer of or exchange any Debt Securities for a period of 15 days next preceding any mailing of notice of redemption of Debt Securities
of such series or (b) to register the transfer of or exchange any Debt Securities selected, called or being called for redemption in whole or in part, except, in the case of Debt Securities to be redeemed in part, the portion thereof not to be
so redeemed. 
 Prior to the due presentation for registration of transfer of any Debt Security, the Company, the Trustee, any
paying agent or any Registrar may deem and treat the Person in whose name a Debt Security is registered as the absolute owner of such Debt Security for the purpose of receiving payment of principal of, and premium, if any, and (subject to
Section 2.12(a)) interest on, such Debt Security and for all other purposes whatsoever, whether or not such Debt Security is overdue, and none of the Company, the Trustee, any paying agent or Registrar shall be affected by notice to the
contrary. 
 None of the Company, the Trustee, any agent of the Trustee, any paying agent or any Registrar will have any
responsibility or liability for any aspect of the records relating to, or payments made on account of, beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership
interests. 
 Section 2.08. Temporary Debt Securities. Pending the preparation of definitive Debt Securities of any
series, the Company may execute and the Trustee shall authenticate and deliver temporary Debt Securities (printed, 

  
 22 

 
lithographed, photocopied, typewritten or otherwise produced) of any authorized denomination, and substantially in the form of the definitive Debt Securities in lieu of which they are issued, in
registered form and with such omissions, insertions and variations as may be appropriate for temporary Debt Securities, all as may be determined by the Company with the concurrence of the Trustee. Temporary Debt Securities may contain such reference
to any provisions of this Indenture as may be appropriate. Every temporary Debt Security shall be executed by the Company and be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the
definitive Debt Securities. 
 If temporary Debt Securities of any series are issued, the Company will cause definitive Debt
Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Debt Securities of such series, the temporary Debt Securities of such series shall be exchangeable for definitive Debt Securities of such series
upon surrender of the temporary Debt Securities of such series at the office or agency of the Company at a Place of Payment for such series, without charge to the Holder thereof, except as provided in Section 2.07 in connection with a transfer,
and upon surrender for cancellation of any one or more temporary Debt Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Debt Securities of
the same series of authorized denominations and of like tenor. Until so exchanged, temporary Debt Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Debt Securities of such series,
except as otherwise specified as contemplated by Section 2.03(q) with respect to the payment of interest on Global Securities in temporary form. 
 Upon any exchange of a portion of a temporary Global Security for a definitive Global Security or for the individual Debt Securities represented thereby pursuant to Section 2.07 or this
Section 2.08, the temporary Global Security shall be endorsed by the Trustee to reflect the reduction of the principal amount evidenced thereby, whereupon the principal amount of such temporary Global Security shall be reduced for all purposes
by the amount so exchanged and endorsed. 
 Section 2.09. Mutilated, Destroyed, Lost or Stolen Debt Securities. If
(i) any mutilated Debt Security is surrendered to the Trustee at its corporate trust office or (ii) the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Debt Security, and there is
delivered to the Company and the Trustee such security or indemnity as may be required by them to save each of them and any paying agent harmless, and neither the Company nor the Trustee receives notice that such Debt Security has been acquired by a
bona fide purchaser, then the Company shall execute and, upon a Company Order, the Trustee shall authenticate and deliver, in exchange for or in lieu of any such 

  
 23 

 
mutilated, destroyed, lost or stolen Debt Security, a new Debt Security of the same series of like tenor, form, terms and principal amount, bearing a number not contemporaneously Outstanding.
Upon the issuance of any substituted Debt Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. In case any
Debt Security which has matured or is about to mature or which has been called for redemption shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substituted Debt Security, pay or authorize the payment of
the same (without surrender thereof except in the case of a mutilated Debt Security) if the applicant for such payment shall furnish the Company and the Trustee with such security or indemnity as either may require to save it harmless from all risk,
however remote, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Debt Security and of the ownership thereof. 

Every substituted Debt Security of any series issued pursuant to the provisions of this Section 2.09 by virtue of the fact that any
Debt Security is destroyed, lost or stolen shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Debt Security shall be found at any time, and shall be entitled to all the
benefits of this Indenture equally and proportionately with any and all other Debt Securities of that series duly issued hereunder. All Debt Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Debt Securities, and shall preclude any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with
respect to the replacement or payment of negotiable instruments or other securities without their surrender. 
 Section 2.10.
Cancellation of Surrendered Debt Securities. All Debt Securities surrendered for payment, redemption, registration of transfer or exchange shall, if surrendered to the Company or any paying agent or a Registrar, be delivered to the Trustee for
cancellation by it, or if surrendered to the Trustee, shall be canceled by it, and no Debt Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. All canceled Debt Securities held by the
Trustee shall be disposed of by the Trustee in accordance with its customary procedures, and certification by the Trustee of their cancellation shall be delivered to the Company at its written request. If the Company shall acquire any of the Debt
Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented thereby unless and until the same are delivered or surrendered to the Trustee for cancellation. The Company may not issue new
Debt Securities to replace Debt Securities it has redeemed, paid or delivered to the Trustee for cancellation. 

  
 24 

 Section 2.11. Provisions of the Indenture and Debt Securities for the Sole Benefit of the
Parties and the Holders. Nothing in this Indenture or in the Debt Securities, expressed or implied, shall give or be construed to give to any Person, other than the parties hereto, the Holders or any Registrar or paying agent or the holders of
Senior Indebtedness, if any, any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all its covenants, conditions and provisions being for the sole benefit
of the parties hereto, the Holders and any Registrar and paying agents and the holders of Senior Indebtedness, if any. 

Section 2.12. Payment of Interest; Rights Preserved. 
 (a) Interest on any Registered Security that is payable and is punctually paid or duly provided for on any interest payment date shall be paid to the Person in whose name such Registered Security is
registered at the close of business on the regular record date for such interest notwithstanding the cancellation of such Registered Security upon any transfer or exchange subsequent to the regular record date. Payment of interest on Registered
Securities shall be made at the corporate trust office of the Trustee (except as otherwise specified pursuant to Section 2.03), or at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall
appear in the Debt Security Register or, if provided pursuant to Section 2.03 and in accordance with arrangements satisfactory to the Trustee, at the option of the Registered Holder by wire transfer to an account designated by the Registered
Holder. 
 (b) Subject to the foregoing provisions of this Section 2.12 and Section 2.17, each Debt Security of a
particular series delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Debt Security of the same series shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by
such other Debt Security. 
 Section 2.13. Securities Denominated In Foreign Currencies. 

(a) Except as otherwise specified pursuant to Section 2.03 for Registered Securities of any series, payment of the principal of, and
premium, if any, and interest on, Registered Securities of such series will be made in Dollars. 
 (b) For the purposes of
calculating the principal amount of Debt Securities of any series denominated in a Foreign Currency or in units of two or more Foreign Currencies for any purpose under this Indenture, the principal amount of such Debt Securities at any time
Outstanding shall be deemed to be the Dollar Equivalent of such principal amount as of the date of any such calculation. 

  
 25 

 In the event any Foreign Currency or currencies or units of two or more Currencies in which
any payment with respect to any series of Debt Securities may be made ceases to be a freely convertible Currency on United States Currency markets, for any date thereafter on which payment of principal of, or premium, if any, or interest on, the
Debt Securities of a series is due, the Company shall select the Currency of payment for use on such date, all as provided in the Debt Securities of such series. In such event, the Company shall, as provided in the Debt Securities of such series,
notify the Trustee of the Currency which it has selected to constitute the funds necessary to meet the Company’s obligations on such payment date and of the amount of such Currency to be paid. Such amount shall be determined as provided in the
Debt Securities of such series. The payment to the Trustee with respect to such payment date shall be made by the Company solely in the Currency so selected. 
 Section 2.14. Wire Transfers. Notwithstanding any other provision to the contrary in this Indenture, the Company may make any payment of monies required to be deposited with the Trustee on account
of principal of, or premium, if any, or interest on, the Debt Securities (whether pursuant to optional or mandatory redemption payments, interest payments or otherwise) by wire transfer of immediately available funds to an account designated by the
Trustee on or before 10:00 a.m. (New York City Time) on the date such moneys are to be paid to the Holders of the Debt Securities in accordance with the terms hereof. 
 Section 2.15. Securities Issuable in the Form of a Global Security. 
 (a)
If the Company shall establish pursuant to Sections 2.01 and 2.03 that the Debt Securities of a particular series are to be issued in whole or in part in the form of one or more Global Securities, then the Company shall execute and the Trustee or
its agent shall, in accordance with Section 2.05, authenticate and deliver, such Global Security or Securities, which (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, the Outstanding
Debt Securities of such series to be represented by such Global Security or Securities, or such portion thereof as the Company shall specify in an Officers’ Certificate or Company Order, (ii) shall be registered in the name of the
Depositary or its nominee for such Global Security or securities or its nominee, (iii) shall be delivered by the Trustee or its agent to the Depositary or pursuant to the Depositary’s instruction or held by the Trustee as custodian for the
Depositary and (iv) shall bear a legend substantially to the following effect: “Unless and until it is exchanged in whole or in part for the individual Debt Securities represented hereby, 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”, or such other legend as may then be required by the Depositary for such Global Security or Securities. 

  
 26 

 (b) Notwithstanding any other provision of this Section 2.15 or of Section 2.07 to
the contrary, and subject to the provisions of paragraph (c) below, unless the terms of a Global Security expressly permit such Global Security to be exchanged in whole or in part for definitive Debt Securities in registered form, a Global
Security may be transferred, in whole but not in part and in the manner provided in Section 2.07, only by the Depositary to a nominee of the Depositary for such Global Security, or by a nominee of the Depositary to the Depositary or another
nominee of the Depositary, or by the Depositary or a nominee of the Depositary to a successor Depositary for such Global Security selected or approved by the Company, or to a nominee of such successor Depositary. 

(c) (i) If at any time the Depositary for a Global Security or Securities notifies the Company that it is unwilling or unable to continue
as Depositary for such Global Security or Securities or if at any time the Depositary for the Debt Securities for such series shall no longer be eligible or in good standing under the Exchange Act or other applicable statute, rule or regulation, the
Company shall appoint a successor Depositary with respect to such Global Security or Securities. If a successor Depositary for such Global Security or Securities is not appointed by the Company within 90 days after the Company receives such notice
or becomes aware of such ineligibility, the Company shall execute, and the Trustee or its agent, upon receipt of a Company Order for the authentication and delivery of such individual Debt Securities of such series in exchange for such Global
Security, will authenticate and deliver, individual Debt Securities of such series of like tenor and terms in definitive form in an aggregate principal amount equal to the principal amount of the Global Security in exchange for such Global Security
or Securities. 
 (ii) The Company may at any time and in its sole discretion determine that the Debt Securities
of any series or portion thereof issued or issuable in the form of one or more Global Securities shall no longer be represented by such Global Security or Securities. In such event the Company will execute, and the Trustee, upon receipt of a Company
Order for the authentication and delivery of individual Debt Securities of such series in exchange in whole or in part for such Global Security, will authenticate and deliver individual Debt Securities of such series of like tenor and terms in
definitive form in an aggregate principal amount equal to the principal amount of such series or portion thereof in exchange for such Global Security or Securities. 

(iii) If specified by the Company pursuant to Sections 2.01 and 2.03 with respect to Debt Securities issued or issuable in
the form of a Global Security, the Depositary for such Global Security may surrender such Global Security in exchange in whole or in part for individual Debt Securities of such series of like tenor and terms in definitive form on such

  
 27 

 
terms as are acceptable to the Company, the Trustee and such Depositary. Thereupon the Company shall execute, and the Trustee or its agent upon receipt of a Company Order for the authentication
and delivery of definitive Debt Securities of such series shall authenticate and deliver, without service charge, (1) to each Person specified by such Depositary a new Debt Security or Securities of the same series of like tenor and terms and
of any authorized denomination as requested by such Person in aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Global Security; and (2) to such Depositary a new Global Security of like tenor
and terms and in an authorized denomination equal to the difference, if any, between the principal amount of the surrendered Global Security and the aggregate principal amount of Debt Securities delivered to Holders thereof. 

(iv) In any exchange provided for in any of the preceding three paragraphs, the Company will execute and the Trustee or
its agent will authenticate and deliver individual Debt Securities. Upon the exchange of the entire principal amount of a Global Security for individual Debt Securities, such Global Security shall be canceled by the Trustee or its agent. Except as
provided in the preceding paragraph, Registered Securities issued in exchange for a Global Security pursuant to this Section 2.15 shall be registered in such names and in such authorized denominations as the Depositary for such Global Security,
pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee or the Registrar. The Trustee or the Registrar shall deliver such Registered Securities to the Persons in whose names such Registered
Securities are so registered. 
 (v) Payments in respect of the principal of and interest on any Debt Securities
registered in the name of the Depositary or its nominee will be payable to the Depositary or such nominee in its capacity as the registered owner of such Global Security. The Company and the Trustee may treat the Person in whose name the Debt
Securities, including the Global Security, are registered as the owner thereof for the purpose of receiving such payments and for any and all other purposes whatsoever. None of the Company, the Trustee, any Registrar, the paying agent or any agent
of the Company or the Trustee will have any responsibility or liability for (a) any aspect of the records relating to or payments made on account of the beneficial ownership interests of the Global Security by the Depositary or its nominee or
any of the Depositary’s direct or indirect participants, or for maintaining, supervising or reviewing any records of the Depositary, its nominee or any of its direct or indirect participants relating to the beneficial ownership interests of the
Global Security, (b) the payments to the beneficial owners of the Global Security of amounts paid to the Depositary or its nominee, or (c) any other matter relating to the 

  
 28 

 
actions and practices of the Depositary, its nominee or any of its direct or indirect participants. None of the Company, the Trustee or any such agent will be liable for any delay by the
Depositary, its nominee, or any of its direct or indirect participants in identifying the beneficial owners of the Debt Securities, and the Company and the Trustee may conclusively rely on, and will be protected in relying on, instructions from the
Depositary or its nominee for all purposes (including with respect to the registration and delivery, and the respective principal amounts, of the Debt Securities to be issued). 

Section 2.16. Medium Term Securities. Notwithstanding any contrary provision herein, if all Debt Securities of a series are not to
be originally issued at one time, it shall not be necessary for the Company to deliver to the Trustee an Officers’ Certificate, resolutions of the Board of Directors, supplemental Indenture, Opinion of Counsel or written order or any other
document otherwise required pursuant to Section 2.01, 2.03, 2.05 or 13.05 at or prior to the time of authentication of each Debt Security of such series if such documents are delivered to the Trustee or its agent at or prior to the
authentication upon original issuance of the first such Debt Security of such series to be issued; provided, that any subsequent request by the Company to the Trustee to authenticate Debt Securities of such series upon original issuance shall
constitute a representation and warranty by the Company that, as of the date of such request, the statements made in the Officers’ Certificate delivered pursuant to Section 2.05 or 13.05 shall be true and correct as if made on such date
and that the Opinion of Counsel delivered at or prior to such time of authentication upon original issuance of Debt Securities shall specifically state that it shall relate to all subsequent issuances of Debt Securities of such series that are
identical to the Debt Securities issued in the first issuance of Debt Securities of such series. 
 A Company Order delivered by
the Company to the Trustee in the circumstances set forth in the preceding paragraph, may provide that Debt Securities which are the subject thereof will be authenticated and delivered by the Trustee or its agent on original issue from time to time
upon the written order of Persons designated in such written order and that such Persons are authorized to determine, consistent with the Officers’ Certificate, supplemental Indenture or resolution of the Board of Directors relating to such
written order, such terms and conditions of such Debt Securities as are specified in such Officers’ Certificate, supplemental Indenture or such resolution. 
 Section 2.17. Defaulted Interest. Any interest on any Debt Security of a particular series which is payable, but is not punctually paid or duly provided for, on the dates and in the manner provided
in the Debt Securities of such series and in this Indenture (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Registered Holder thereof on the relevant record date by virtue of having been such
Registered Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (a) or (b) below: 

  
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 (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Registered Securities of such series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: The Company shall notify the Trustee in writing
of the amount of Defaulted Interest proposed to be paid on each such Registered Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate
amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date
of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company,
shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Holder thereof at its address as it appears in the Debt Security Register, not less than 10
days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been so mailed, such Defaulted interest shall be paid to the Persons in whose names the Registered
Securities of such series are registered at the close of business on such special record date. 
 (b) The Company may make
payment of any Defaulted Interest on the Registered Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Registered Securities of such series may be listed, and upon such
notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

Section 2.18. Judgments. The Company may provide pursuant to Section 2.03 for Debt Securities of any series that (a) the
obligation, if any, of the Company to pay the principal of, and premium, if any, and interest on, the Debt Securities of any series in a Foreign Currency or Dollars (the “Designated Currency”) as may be specified pursuant to
Section 2.03 is of the essence and agrees that, to the fullest extent possible under applicable law, judgments in respect of Debt Securities of such series shall be given in the Designated Currency; (b) the obligation of the Company to
make payments in the Designated 

  
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Currency of the principal of, and premium, if any, and interest on, such Debt Securities shall, notwithstanding any payment in any other Currency (whether pursuant to a judgment or otherwise), be
discharged only to the extent of the amount in the Designated Currency that the Holder receiving such payment may, in accordance with normal banking procedures, purchase with the sum paid in such other Currency (after any premium and cost exchange)
on the business day in the country of issue of the Designated Currency or in the international banking community (in the case of a composite currency) immediately following the day on which such Holder receives such payment; (c) if the amount
in the Designated Currency that may be so purchased for any reason falls short of the amount originally due, the Company shall pay such additional amounts as may be necessary to compensate for such shortfall; and (d) any obligation of the
Company not discharged by such payment shall be due as a separate and independent obligation and, until discharged as provided herein, shall continue in full force and effect. 
 ARTICLE 3 
 REDEMPTION OF DEBT
SECURITIES 
 Section 3.01. Applicability of Article. The provisions of this Article shall be applicable
to the Debt Securities of any series which are redeemable before their Stated Maturity except as otherwise specified as contemplated by Section 2.03 for Debt Securities of such series. 

Section 3.02. Notice of Redemption; Selection of Debt Securities. In case the Company shall desire to exercise the right to redeem
all or any part of the Debt Securities of any series, as the case may be, in accordance with their terms, the Company shall fix a date for redemption and shall give notice of such redemption at least 30 and not more than 60 days prior to the date
fixed for redemption to the Holders of Debt Securities of such series so to be redeemed as a whole or in part, in the manner provided in Section 13.03. The notice if given in the manner herein provided shall be conclusively presumed to have
been duly given, whether or not the Holder receives such notice. In any case, failure to give such notice or any defect in the notice to the Holder of any Debt Security of a series designated for redemption as a whole or in part shall not affect the
validity of the proceedings for the redemption of any other Debt Security of such series. 
 Each such notice of redemption
shall specify the date fixed for redemption, the redemption price at which Debt Securities of such series are to be redeemed, the Place or Places of Payment that payment will be made upon presentation and surrender of such Debt Securities, that any
interest accrued to the date fixed for redemption will be paid as specified in said notice, that the redemption is for a sinking fund payment (if applicable), that, if the Company defaults on making 

  
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 such redemption payment or if the Debt Securities of that series are subordinated pursuant to the terms of
Article 12 the paying agent is prohibited from making such payment pursuant to the terms of this Indenture, that on and after said date any interest thereon or on the portions thereof to be redeemed will cease to accrue, that in the case of Original
Issue Discount Securities original issue discount accrued after the date fixed for redemption will cease to accrue, the provision of the Debt Securities of that series pursuant to which the Debt Securities of that series are being redeemed, the
CUSIP numbers of the Debt Securities of that series being redeemed and that no representation is made as to the correctness or accuracy of the CUSIP number listed in such notice or printed on the Debt Securities of that series. In case any Debt
Security of a series is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon surrender of such Debt
Security, a new Debt Security or Debt Securities of that series in principal amount equal to the unredeemed portion thereof will be authenticated and delivered in exchange for the unredeemed portion of the principal of the Debt Security so
surrendered. 
 At least 60 days before the redemption date unless the Trustee consents to a shorter period, the Company shall
give notice to the Trustee of the redemption date, the principal amount of Debt Securities to be redeemed and the series and terms of the Debt Securities pursuant to which such redemption will occur. Such notice shall be accompanied by an
Officers’ Certificate and an Opinion of Counsel from the Company to the effect that such redemption will comply with the conditions herein. 
 Notice of such redemption or purchase of Notes to be so redeemed or purchased at the election of the Company shall be given by the Company or, at the Company’s request (made to the Trustee at least 5
business days (or such shorter period as shall be satisfactory to the Trustee) prior to the date such notice is to be sent), by the Trustee in the name and at the expense of the Company. Any such request will include the notice which the Trustee is
requested to send. 
 On or prior to the redemption date for any Registered Securities, the Company shall deposit with the
Trustee or with a paying agent (or, if the Company is acting as its own paying agent, segregate and hold in trust) an amount of money in the Currency in which such Debt Securities are denominated (except as provided pursuant to Section 2.03)
sufficient to pay the redemption price of such Registered Securities or any portions thereof that are to be redeemed on that date. 
 If less than all the Debt Securities of like tenor and terms of a series are to be redeemed (other than pursuant to mandatory sinking fund redemptions), the Trustee shall select, in such manner as in its
sole discretion it shall deem appropriate and fair, the Debt Securities of that series or portions thereof (in 

  
 32 

 
authorized denominations) to be redeemed. In any case where more than one Registered Security of such series is registered in the same name, the Trustee in its discretion may treat the aggregate
principal amount so registered as if it were represented by one Registered Security of such series. The Trustee shall promptly notify the Company in writing of the Debt Securities selected for redemption and, in the case of any Debt Securities
selected for partial redemption, the principal amount thereof to be redeemed. If any Debt Security called for redemption shall not be so paid upon surrender thereof on such redemption date, the principal, premium, if any, and interest shall bear
interest until paid from the redemption date at the rate borne by the Debt Securities of that series. If less than all the Debt Securities of unlike tenor and terms of a series are to be redeemed, the particular Debt Securities to be redeemed shall
be selected by the Company. Provisions of this Indenture that apply to Debt Securities called for redemption also apply to portions of Debt Securities called for redemption. 
 Section 3.03. Payment of Debt Securities Called for Redemption. If notice of redemption has been given as provided in Section 3.02, the Debt Securities or portions of Debt Securities of the
series with respect to which such notice has been given shall become due and payable on the date and at the Place or Places of Payment stated in such notice at the applicable redemption price, together with any interest accrued to the date fixed for
redemption, and on and after said date (unless the Company shall default in the payment of such Debt Securities at the applicable redemption price, together with any interest accrued to said date) any interest on the Debt Securities or portions of
Debt Securities of any series so called for redemption shall cease to accrue and any original issue discount in the case of Original Issue Discount Securities shall cease to accrue. On presentation and surrender of such Debt Securities at the Place
or Places of Payment in said notice specified, the said Debt Securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable redemption price, together with any interest accrued thereon to the date fixed for
redemption. 
 Any Debt Security that is to be redeemed only in part shall be surrendered at the corporate trust office of the
Trustee or such other office or agency of the Company as is specified pursuant to Section 2.03, with, if the Company, the Registrar or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the
Company, the Registrar and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing, and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Debt Security without service
charge, a new Debt Security or Debt Securities of the same series, of like tenor and form, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal
of the Debt Security so surrendered; except that if a Global Security is so surrendered, the Company shall execute, and the Trustee shall authenticate and deliver to the Depositary for such Global Security, without service charge, a new Global
Security in a 

  
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denomination equal to and in exchange for the unredeemed portion of the principal of the Global Security so surrendered. In the case of a Debt Security providing appropriate space for such
notation, at the option of the Holder thereof, the Trustee, in lieu of delivering a new Debt Security or Debt Securities as aforesaid, may make a notation on such Debt Security of the payment of the redeemed portion thereof. 

Section 3.04. Mandatory and Optional Sinking Funds. The minimum amount of any sinking fund payment provided for by the terms of
Debt Securities of any series, resolution of the Board of Directors or a supplemental Indenture is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of Debt
Securities of any series, resolution of the Board of Directors or a supplemental Indenture is herein referred to as an “optional sinking fund payment”. 
 In lieu of making all or any part of any mandatory sinking fund payment with respect to any Debt Securities of a series in cash, the Company may at its option (a) deliver to the Trustee Debt
Securities of that series theretofore purchased or otherwise acquired by the Company or (b) receive credit for the principal amount of Debt Securities of that series which have been redeemed either at the election of the Company pursuant to the
terms of such Debt Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Debt Securities, resolution or supplemental Indenture; provided, that such Debt Securities have not been
previously so credited. Such Debt Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Debt Securities, resolution or supplemental Indenture for redemption through operation of the
sinking fund and the amount of such mandatory sinking fund payment shall be reduced accordingly. 
 Section 3.05. Redemption
of Debt Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing
sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Debt Securities of such series are denominated (except as provided
pursuant to Section 2.03) and the portion thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany
such certificate), the basis for such credit and that such Debt Securities have not been previously so credited and whether the Company intends to exercise its right to make any permitted optional sinking fund payment with respect to such series.
Such certificate shall also state that no Event of Default has occurred and is continuing with respect to such series. Such certificate shall be irrevocable and upon its delivery the Company shall be obligated to make the cash payment or payments
therein referred to, if any, on or 

  
 34 

 
before the next succeeding sinking fund payment date. Failure of the Company to deliver such certificate (or to deliver the Debt Securities specified in this paragraph) shall not constitute a
Default, but such failure shall require that the sinking fund payment due on the next succeeding sinking fund payment date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Debt Securities
subject to a mandatory sinking fund payment without the option to deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make any optional sinking fund payment, if any, with respect to such series.

 Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking
fund payments made in cash which shall equal or exceed $100,000 (or a lesser sum if the Company shall so request) with respect to the Debt Securities of any particular series shall be applied by the Trustee on the sinking fund payment date on which
such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of such Debt Securities at the redemption price specified in such Debt
Securities, resolution or supplemental Indenture for operation of the sinking fund together with any accrued interest to the date fixed for redemption. Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of Debt
Securities shall be added to the next cash sinking fund payment received by the Trustee for such series and, together with such payment, shall be applied in accordance with the provisions of this Section 3.05. Any and all sinking fund moneys
with respect to the Debt Securities of any particular series held by the Trustee on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities shall be
applied by the Trustee, together with other moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of that series at its Stated Maturity. 

The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in the last
paragraph of Section 3.02 and the Company shall cause notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the notice of redemption shall also state that the Debt Securities are being redeemed by
operation of the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Section 3.03. 

At least one business day before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as
its own paying agent, the Company shall segregate and hold in trust) in cash a sum in the Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) equal to any interest accrued to the
date fixed for redemption of Debt Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section 3.05. 

  
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 The Trustee shall not redeem any Debt Securities of a series with sinking fund moneys or
mail any notice of redemption of such Debt Securities by operation of the sinking fund for such series during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default (other than an Event of Default
occurring as a consequence of this paragraph) with respect to such Debt Securities, except that if the notice of redemption of any such Debt Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall
redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance with the terms of this Article 3. Except as aforesaid, any moneys in the sinking fund for such series at the time when
any such Default or Event of Default shall occur and any moneys thereafter paid into such sinking fund shall, during the continuance of such Default or Event of Default, be held as security for the payment of the Debt Securities of such series;
provided, however, that in case such Event of Default or Default shall have been cured or waived as provided herein, such moneys shall thereafter be applied on the next sinking fund payment date for such Debt Securities on which such
moneys may be applied pursuant to the provisions of this Section 3.05. 
 ARTICLE 4 

PARTICULAR COVENANTS OF THE COMPANY 

Section 4.01. Payment of Principal of, and Premium If Any, and Interest on, Debt Securities. The Company, for the benefit of each
series of Debt Securities, will duly and punctually pay or cause to be paid the principal of, and premium, if any, and interest on, each of the Debt Securities at the place, at the respective times and in the manner provided herein and in the Debt
Securities. Each installment of interest on the Debt Securities may at the Company’s option be paid by mailing checks for such interest payable to the Person entitled thereto to the address of such Person as it appears on the Debt Security
Register maintained pursuant to Section 2.07(a) or, if provided pursuant to Section 2.03 and in accordance with arrangements satisfactory to the Trustee, at the option of the Registered Holder by wire transfer to an account designated by the
Registered Holder. Principal, premium and interest of Debt Securities of any series shall be considered paid on the date due if on such date the Trustee or any paying agent holds in accordance with this Indenture money sufficient to pay in the
Currency in which the Debt Securities of such series are denominated (except as provided pursuant to Section 2.03) all principal, premium and interest then due and, in the case of Debt Securities subordinated pursuant to the terms of Article
12, the Trustee or such paying agent, as the case may be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of the Indenture. 

  
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 The Company shall pay interest on overdue principal at the rate specified therefor in the
Debt Securities and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. 
 Section
4.02. Maintenance of Offices or Agencies for Registration of Transfer, Exchange and Payment of Debt Securities. The Company will maintain in each Place of Payment for any series of Debt Securities, an office or agency where Debt Securities of
such series may be presented or surrendered for payment, where Debt Securities of such series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Debt Securities of such
series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office
or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the corporate trust office of the Trustee, and the Company hereby appoints the Trustee as its agent
to receive all presentations, surrenders, notices and demands. 
 The Company may also from time to time designate different or
additional offices or agencies to be maintained for such purposes (in or outside of such Place of Payment), and may from time to time rescind any such designation; provided, however, that no such designation or rescission shall in any
manner relieve the Company of its obligations described in the preceding paragraph. The company will give prompt written notice to the Trustee of any such additional designation or rescission of designation and any change in the location of any such
different or additional office or agency. 
 Section 4.03. Appointment to Fill a Vacancy in the Office of Trustee. The
Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.08, a Trustee, so that there shall at all times be a Trustee hereunder with respect to each series of Debt
Securities. 
 Section 4.04. Duties Of Paying Agents, etc. 

(a) The Company shall cause each paying agent, if any, other than the Trustee, to execute and deliver to the Trustee an instrument in
which such agent shall agree with the Trustee, subject to the provisions of this Section 4.04, 
 (i) that
it will hold all sums held by it as such agent for the payment of the principal of, and premium, if any, or interest on, the Debt Securities of any series (whether such sums have been paid to it by the Company or by any other obligor on the Debt
Securities of such series) in trust for the benefit of the Holders of the Debt Securities of such series; 

  
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 (ii) that it will give the Trustee notice of any failure by the Company (or
by any other obligor on the Debt Securities of such series) to make any payment of the principal of and premium, if any, or interest on, the Debt Securities of such series when the same shall be due and payable; and 

(iii) that it will at any time during the continuance of an Event of Default, upon the written request of the Trustee,
forthwith pay to the Trustee all sums so held by it as such agent. 
 (b) If the Company shall act as its own paying agent, it
will, on or before each due date of the principal of, and premium, if any, or interest, if any, on, the Debt Securities of any series, set aside, segregate and hold in trust for the benefit of the Holders of the Debt Securities of such series a sum
sufficient to pay such principal, premium, if any, or interest so becoming due. The Company will promptly notify the Trustee of any failure by the Company to take such action or the failure by any other obligor on such Debt Securities to make any
payment of the principal of, and premium, if any, or interest on, such Debt Securities when the same shall be due and payable. 

(c) Anything in this Section 4.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a
satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by it or any paying agent, as required by this Section 4.04, such sums to be held by the Trustee upon the same
trusts as those upon which such sums were held by the Company or such paying agent. 
 (d) Whenever the Company shall have one
or more paying agents with respect to any series of Debt Securities, it will, prior to each due date of the principal of, and premium, if any, or interest on, any Debt Securities of such series, deposit with any such paying agent a sum sufficient to
pay the principal, premium or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled thereto, and (unless any such paying agent is the Trustee) the Company will promptly notify the Trustee of its action or
failure so to act. 
 (e) Anything in this Section 4.04 to the contrary notwithstanding, the agreement to hold sums in
trust as provided in this Section 4.04 is subject to the provisions of Section 11.05. 
 Section 4.05. Statement by
Officers as to Default. The Company will deliver to the Trustee, on or before a date not more than four months after the end of each fiscal year of the Company (currently on a calendar year basis) ending

  
 38 

 
after the date hereof, an Officers’ Certificate, one of the signatories of which shall be the Company’s principal executive officer, principal accounting officer or principal financial
officer, stating, as to each officer signing such certificate, that (i) in the course of his performance of his duties as an officer of the Company he would normally have knowledge of any Default, (ii) whether or not to the best of his
knowledge any Default occurred during such year and (iii) if to the best of his knowledge the Company is in Default, specifying all such Defaults and what action the Company is taking or proposes to take with respect thereto. The Company also
shall comply with Section 314(a)(4) of the Trust Indenture Act. 
 Section 4.06. Further Instruments and Acts. The
Company will, upon request of the Trustee, execute and deliver such further instruments and do such further acts as may reasonably be necessary or proper to carry out more effectually the purposes of this Indenture. 

Section 4.07. Existence. Subject to Article 10, the Company will do or cause to be done all things necessary to preserve and keep
in full force and effect its existence and rights (charter and statutory); provided, however, that the Company shall not be required to preserve any such right or franchise if the Company shall determine that the preservation thereof
is no longer desirable in the conduct of the business of the Company and that the loss thereof is not disadvantageous in any material respect to the Holders. 
 Section 4.08. Maintenance of Properties. The Company will cause all properties used or useful in the conduct of its business or the business of any Subsidiary to be maintained and kept in good
condition, repair and working order in all material respects and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business
carried on by the Company and its subsidiaries may be properly and advantageously conducted at all times; provided, however, that nothing in this Section shall prevent the Company or a Subsidiary from discontinuing the operation or
maintenance of any of such properties if such discontinuance is, in the judgment of the Company, not materially detrimental to the conduct of the business of the Company and its Subsidiaries, taken as a whole, and not disadvantageous in any material
respect to the Holders. 
 Section 4.09. Payment of Taxes and Other Claims. The Company will pay or discharge or cause to
be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary,
and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a Lien upon the property of the Company or any Subsidiary, provided, however, that the Company shall not be required to pay or
discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings. 

  
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 ARTICLE 5 
 HOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE
TRUSTEE 
 Section 5.01. Company to Furnish Trustee Information as to Names and Addresses of Holders;
Preservation of Information. The Company covenants and agrees that it will furnish or cause to be furnished to the Trustee with respect to the Registered Securities of each series: 

(a) not more than 15 days after each record date with respect to the payment of interest, if any, a list, in such form as the Trustee may
reasonably require, of the names and addresses of the Registered Holders as of such record date, and 
 (b) at such other times
as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list as of a date not more than 15 days prior to the time such list is furnished; 
 provided, however, that so long as the Trustee shall be the Registrar, such lists shall not be required to be furnished. 

The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the
Holders (1) contained in the most recent list furnished to it as provided in this Section 5.01 or (2) received by it in the capacity of paying agent or Registrar (if so acting) hereunder. 

The Trustee may destroy any list furnished to it as provided in this Section 5.01 upon receipt of a new list so furnished.

 Section 5.02. Communications to Holders. Holders may communicate pursuant to Section 312(b) of the Trust
Indenture Act with other Holders with respect to their rights under this Indenture or the Debt Securities. The Company, the Trustee, the Registrar and anyone else shall have the protection of Section 312(c) of the Trust Indenture Act.

 Section 5.03. Reports by Company. 
 (a) The Company covenants and agrees, and any obligor hereunder shall covenant and agree, to file with the Trustee, within 15 days after the Company or such obligor, as the case may be, is required to
file the same with the Securities and Exchange Commission, copies of the annual reports and of the 

  
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information, documents and other reports (or copies of such portions of any of the foregoing as said Commission may from time to time by rules and regulations prescribe) which the Company or such
obligor, as the case may be, may be required to file with said Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company or such obligor, as the case may be, is not required to file information, documents
or reports pursuant to either of such Sections, then to file with the Trustee and said Commission, in accordance with rules and regulations prescribed from time to time by said Commission, such of the supplementary and periodic information,
documents and reports which may be required pursuant to Section 13 of the Exchange Act in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations.

 (b) The Company covenants and agrees, and any obligor hereunder shall covenant and agree, to file with the Trustee and the
Securities and Exchange Commission, in accordance with the rules and regulations prescribed from time to time by said Commission, such additional information, documents, and reports with respect to compliance by the Company or such obligor, as the
case may be, with the conditions and covenants provided for in this Indenture as may be required from time to time by such rules and regulations. 
 (c) Delivery of such information, documents and reports to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information
contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

Section 5.04. Reports by Trustee. Within 60 days after May 15 of each year commencing with the first May 15 after the
first issuance of Debt Securities pursuant to this Indenture, the Trustee shall transmit to the Holders, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, a brief report dated as of such May 15 if
required by Section 313(a) of the Trust Indenture Act. 
 The Trustee shall comply with Sections 313(b) and 313(c) of the
Trust Indenture Act. 
 A copy of each report at the time of its mailing to Holders shall be filed with the Securities and
Exchange Commission and each stock exchange (if any) on which the Debt Securities of any series are listed (to the extent such listing is known to the Trustee). The Company agrees to notify promptly the Trustee whenever the Debt Securities of any
series become listed on any stock exchange and of any delisting thereof. 

  
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 Section 5.05. Record Dates for Action by Holders. If the Company shall solicit from
the Holders of Debt Securities of any series any action (including the making of any demand or request, the giving of any direction, notice, consent or waiver or the taking of any other action), the Company may, at its option, by resolution of the
Board of Directors, fix in advance a record date for the determination of Holders of Debt Securities entitled to take such action, but the Company shall have no obligation to do so. Any such record date shall be fixed at the Company’s
discretion. If such a record date is fixed, such action may be sought or given before or after the record date, but only the Holders of Debt Securities of record at the close of business on such record date shall be deemed to be Holders of Debt
Securities for the purpose of determining whether Holders of the requisite proportion of Debt Securities of such series Outstanding have authorized or agreed or consented to such action, and for that purpose the Debt Securities of such series
Outstanding shall be computed as of such record date. 
 ARTICLE 6 

REMEDIES OF THE TRUSTEE AND HOLDERS
IN EVENT OF DEFAULT 
 Section 6.01. Events of Default. If
any one or more of the following shall have occurred and be continuing with respect to Debt Securities of any series (each of the following, an “Event of Default”): 

(a) default in the payment of any installment of interest upon any Debt Securities of that series as and when the same shall become due
and payable, whether or not such payment shall be prohibited by Article 12, if applicable, and continuance of such default for a period of 30 days; or 
 (b) default in the payment of the principal of or premium, if any, on any Debt Securities of that series as and when the same shall become due and payable, whether at maturity, upon redemption, by
declaration, upon required repurchase or otherwise, whether or not such payment shall be prohibited by Article 12, if applicable; or 
 (c) default in the payment of any sinking fund payment with respect to any Debt Securities of that series as and when the same shall become due and payable; or 

(d) failure on the part of the Company to comply with Article 10; or 

  
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 (e) failure on the part of the Company duly to observe or perform any other of the covenants
or agreements on the part of the Company in the Debt Securities of that series, in any resolution of the Board of Directors authorizing the issuance of that series of Debt Securities, in this Indenture with respect to such series or in any
supplemental Indenture with respect to such series (other than a covenant a default in the performance of which is elsewhere in this Section specifically dealt with), continuing for a period of 60 days after the date on which written notice,
specifying such failure, requiring the Company to remedy the same and stating that such written notice is a “Notice of Default” hereunder, shall have 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 aggregate principal amount of the Debt Securities of that series at the time Outstanding; or 
 (f) Indebtedness of the Company or any Subsidiary of the Company is not paid within any applicable grace period after final maturity or is accelerated by the holders thereof because of a default, the
total amount of such Indebtedness unpaid or accelerated exceeds $25,000,000 or its Dollar Equivalent at the time and such default remains uncured or such acceleration is not rescinded for 10 days after the date on which written notice specifying
such failure and requiring the Company to remedy the same shall have 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 aggregate principal amount of the
Debt Securities of that series at the time Outstanding; or 
 (g) the Company or any Significant Subsidiary shall
(i) voluntarily commence any proceeding or file any petition seeking relief under Title 11 of the United States Code or any other Federal or State bankruptcy, insolvency or similar law, (ii) consent to the institution of, or fail to
controvert within the time and in the manner prescribed by law, any such proceeding or the filing of any such petition, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator or similar official for the
Company or any Significant Subsidiary or for a substantial part of the Company’s or any Significant Subsidiary’s property, (iv) file an answer admitting the material allegations of a petition filed against the Company or any
Significant Subsidiary in any such proceeding, (v) make a general assignment for the benefit of creditors, (vi) admit in writing the Company’s or any Significant Subsidiary’s inability or fail generally to pay the Company’s
or any Significant Subsidiary’s debts as they become due, (vii) take corporate action for the purpose of effecting any of the foregoing, or (viii) take any comparable action under any foreign laws relating to insolvency; or

 (h) the entry of an order or decree by a court having competent jurisdiction in the premises for (i) relief in respect
of the Company or any Significant Subsidiary or a substantial part of the Company’s or any Significant Subsidiary’s property under Title 11 or the United States Code or any other Federal or State bankruptcy, insolvency or similar law,
(ii) the appointment of a receiver, trustee, custodian, sequestrator or similar official for the Company or 

  
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any Significant Subsidiary or for a substantial part of the Company’s or any Significant Subsidiary’s property, or (iii) the winding-up or liquidation of the Company or any
Significant Subsidiary; and such order or decree shall continue unstayed and in effect for 60 consecutive days; or any similar relief is granted under any foreign laws and the order or decree stays in effect for 60 consecutive days; or 

(i) any other Event of Default provided under the terms of the Debt Securities of that series; 

then and in each and every case that an Event of Default with respect to Debt Securities of that series at the time outstanding occurs and is continuing
(other than an Event of Default arising under Section 6.01(g) or (h)), unless the principal of and interest on all the Debt Securities of that series shall have already become due and payable, either the Trustee or the Holders of not less than
25% in aggregate principal amount of the Debt Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal of (or, if the Debt Securities of that series
are Original Issue Discount Debt Securities, such portion of the principal amount as may be specified in the terms of that series) and interest on all the Debt Securities of that series to be due and payable immediately, and upon any such
declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Debt Securities of that series contained to the contrary notwithstanding. If an Event of Default under Section 6.01(g) or
(h) occurs, then the principal of, premium, if any, and accrued interest on the Debt Securities shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 

The Holders of a majority in principal amount of the Debt Securities of a particular series by notice to the Trustee may rescind an
acceleration and its consequences if the rescission would not conflict with any judgment or decree already rendered and if all existing Events of Default have been cured or waived except nonpayment of principal or interest that has become due solely
because of acceleration and if the Company shall have paid or deposited with the Trustee a sum sufficient to pay all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel. Upon any such rescission, the parties hereto shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no proceeding had
been taken. 
 In case the Trustee or any Holder shall have proceeded to enforce any right under this Indenture and such
proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee or such Holder, then and in 

  
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 every such case the parties hereto shall be restored respectively to their several positions and rights
hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no such proceeding had been taken. 
 The foregoing Events of Default shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is 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. 
 The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written notice in the form of an Officers’ Certificate of any event which with the giving of notice and the
lapse of time would become an Event of Default under clause (c), (d), (e), (f), (g), (h) or (i) (or any other events of default provided for in any indenture supplemental hereto), its status and what action the Company is taking or
proposes to take with respect thereto. 
 Section 6.02. Collection of Indebtedness by Trustee, etc. If an Event of
Default occurs and is continuing, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid or enforce
the performance of any provision of the Debt Securities of the affected series or this Indenture, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or
any other obligor upon the Debt Securities of such series (and collect in the manner provided by law out of the property of the Company or any other obligor upon the Debt Securities of such series wherever situated the moneys adjudged or decreed to
be payable). 
 In case there shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any
other obligor upon the Debt Securities of any series under Title 11 of the United States Code or any other Federal or State bankruptcy, insolvency or similar law, or in case a receiver, trustee or other similar official shall have been appointed for
its property, or in case of any other similar judicial proceedings relative to the Company or any other obligor upon the Debt Securities of any series, its creditors or its property, the Trustee, irrespective of whether the principal of Debt
Securities of any series shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section 6.02, shall be entitled and
empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal, premium, if any, and interest (or, if the Debt Securities of such series are Original Issue Discount Debt Securities,
such portion of the principal amount as may be specified in the terms of such series) owing and unpaid in respect of the Debt Securities of such series, and to file such other 

  
 45 

 
papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee, its agents, attorneys and counsel,
and for reimbursement of all expenses and liabilities Incurred, and all advances made, by the Trustee except as a result of its negligence or bad faith) and of the Holders thereof allowed in any such judicial proceedings relative to the Company, or
any other obligor upon the Debt Securities of such series, its creditors or its property, and to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the
claims of such Holders and of the Trustee on their behalf, and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of such Holders to make payments to the Trustee, and, in the event that the Trustee shall
consent to the making of payments directly to such Holders, to pay to the Trustee such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other reasonable expenses and
liabilities Incurred, and all advances made, by the Trustee except as a result of its negligence or bad faith. 
 All rights of
action and of asserting claims under this Indenture, or under any of the Debt Securities, of any series, may be enforced by the Trustee without the possession of any such Debt Securities or the production thereof in any trial or other proceedings
relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment (except for any amounts payable to the Trustee pursuant to
Section 7.06) shall be for the ratable benefit of the Holders of all the Debt Securities in respect of which such action was taken. 
 In case of an Event of Default hereunder the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee
shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of
any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 Section 6.03. Application of Moneys Collected by Trustee. Any moneys or other property collected by the Trustee pursuant to Section 6.02 with respect to Debt Securities of any series shall be
applied in the order following, at the date or dates fixed by the Trustee for the distribution of such moneys or other property, upon presentation of the several Debt Securities of such series in respect of which moneys or other property have been
collected, and the notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid: 

  
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 First: To the payment of all money due the Trustee hereunder, including pursuant to
Section 7.06; 
 Second: As provided in Article 12, if applicable; 

Third: In case the principal of the Outstanding Debt Securities in respect of which such moneys have been collected shall not have
become due, to the payment of interest on the Debt Securities of such series in the order of the maturity of the installments of such interest, with interest (to the extent that such interest has been collected by the Trustee) upon the overdue
installments of interest at the rate or Yield to Maturity (in the case of Original Issue Discount Debt Securities) borne by the Debt Securities of such series, such payments to be made ratably to the Persons entitled thereto, without discrimination
or preference; 
 Fourth: In case the principal of the Outstanding Debt Securities in respect of which such moneys have
been collected shall have become due, by declaration or otherwise, to the payment of the whole amount then owing and unpaid upon the Debt Securities of such series for principal and premium, if any, and interest, with interest on the overdue
principal and premium, if any, and (to the extent that such interest has been collected by the Trustee) upon overdue installments of interest at the rate or Yield to Maturity (in the case of Original Issue Discount Debt Securities) borne by the Debt
Securities of such series; and, in case such moneys shall be insufficient to pay in full the whole amount so due and unpaid upon the Debt Securities of such series, then to the payment of such principal and premium, if any, and interest, without
preference or priority of principal and premium, if any, over interest, or of interest over principal and premium, if any, or of any installment of interest over any other installment of interest, or of any Debt Security of such series over any Debt
Security of such series, ratably to the aggregate of such principal and premium, if any, and interest; and 
 Fifth: The
remainder, if any, shall be paid to the Company, its successors or assigns, or to whomsoever may be lawfully entitled to receive the same, or as a court of competent jurisdiction may direct. 

The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.03. At least 15 days before
such record date, the Company shall mail to each Holder and the Trustee a notice that states the record date, the payment date and amount to be paid. 

  
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 Section 6.04. Limitation on Suits by Holders. No Holder of any Debt Security of any
series shall have any right by virtue or by availing of any provision of this Indenture to institute any action or proceeding at law or in equity or in bankruptcy or otherwise, upon or under or with respect to this Indenture, or for the appointment
of a receiver or trustee, or for any other remedy hereunder, unless such Holder previously shall have given to the Trustee written notice of an Event of Default with respect to Debt Securities of that same series and of the continuance thereof and
unless the Holders of not less than 25% in aggregate principal amount of the Outstanding Debt Securities of that series shall have made written request upon the Trustee to institute such action or proceedings in respect of such Event of Default in
its own name as Trustee hereunder and shall have offered to the Trustee such indemnity as it may require against the costs, expenses and liabilities to be Incurred therein or thereby, and the Trustee, for 60 days after its receipt of such notice,
request and offer of indemnity shall have failed to institute any such action or proceedings and no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 6.06; it being understood and
intended, and being expressly covenanted by the Holder of every Debt Security with every other Holder and the Trustee, that no one or more Holders shall have any right in any manner whatever by virtue or by availing of any provision of this
Indenture to affect, disturb or prejudice the rights of any Holders, or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Indenture, except in the manner herein provided and for the
equal, ratable and common benefit of all such Holders. For the protection and enforcement of the provisions of this Section 6.04, each and every Holder and the Trustee shall be entitled to such relief as can be given either at law or in equity.

 Notwithstanding any other provision in this Indenture, however, the right of any Holder of any Debt Security to receive
payment of the principal of, and premium, if any, and (subject to Section 2.12) interest on, such Debt Security on or after the respective due dates expressed in such Debt Security, and to institute suit for the enforcement of any such payment
on or after such respective dates, shall not be impaired or effected without the consent of such Holder. 
 Section 6.05.
Remedies Cumulative; Delay or Omission in Exercise of Rights Not a Waiver of Default. All powers and remedies given by this Article 6 to the Trustee or to the Holders shall, to the extent permitted by law, be deemed cumulative and not exclusive
of any thereof or of any other powers and remedies available to the Trustee or the Holders, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture, and no delay or
omission of the Trustee or of any Holder to exercise any right or power accruing upon any Default occurring and continuing as aforesaid, shall impair any such right or power, or shall be construed to be a waiver of any such Default or an
acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be deemed expedient, by
the Trustee or by the Holders. 

  
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 Section 6.06. Rights of Holders of Majority in Principal Amount of Debt Securities to
Direct Trustee and to Waive Default. The Holders of a majority in aggregate principal amount of the Debt Securities of any series at the time Outstanding shall have the right to direct the time, method, and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Debt Securities of such series; provided, however, that such direction shall not be otherwise than in accordance with
law and the provisions of this Indenture, and that subject to the provisions of Section 7.01, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel shall determine that the action so
directed may not lawfully be taken, or if the Trustee shall by a responsible officer or officers determine that the action so directed would involve it in personal liability or would be unjustly prejudicial to Holders of Debt Securities of such
series not taking part in such direction; and provided further, however, that nothing in this Indenture contained shall impair the right of the Trustee to take any action deemed proper by the Trustee and which is not inconsistent with such direction
by such Holders. The Holders of a majority in aggregate principal amount of the Debt Securities of that series at the time Outstanding may on behalf of the Holders of all the Debt Securities of that series waive any past Default or Event of Default
and its consequences for that series specified in the terms thereof as contemplated by Section 2.03, except (i) a Default in the payment of the principal of, and premium, if any, or interest on, any of the Debt Securities and (ii) a
Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder affected thereby. In case of any such waiver, such Default shall cease to exist, any Event of Default arising there from shall be
deemed to have been cured for every purpose of this Indenture, and the Company, the Trustee and the Holders of the Debt Securities of that series shall be restored to their former positions and rights hereunder, respectively; but no such waiver
shall extend to any subsequent or other Default or impair any right consequent thereon. 
 Section 6.07. Trustee to Give
Notice of Defaults Known to It, but May Withhold Such Notice in Certain Circumstances. If a Default occurs hereunder with respect to Debt Securities of any series, the Trustee will give the Holders of Debt Securities of such series notice of
such Default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any Default of the character specified in Section 6.01(e) with respect to Securities of such series no such notice to Holders
will be given until at least 30 calendar days after the occurrence thereof. Except in the case of Default in the payment of the principal of, or premium, if any, or interest on, any of the Debt Securities of such series, the Trustee shall be
protected in withholding such notice if and so long as the board of directors, the executive committee or a committee of directors or responsible officers of the Trustee in good faith determine that the withholding of such notice is in the interests
of the Holders thereof. 

  
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 Section 6.08. Requirement of an Undertaking to Pay Costs in Certain Suits under the
Indenture or Against the Trustee. All parties to this Indenture agree, and each Holder of any Debt Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement
of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit in the manner and to the
extent provided in the Trust Indenture Act, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the
claims or defenses made by such party litigant; but the provisions of this Section 6.08 shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than ten
percent in principal amount of the Outstanding Debt Securities of that series or to any suit instituted by any Holder for the enforcement of the payment of the principal of, or premium, if any, or interest on, any Debt Security on or after the due
date for such payment expressed in such Debt Security. 
 ARTICLE 7 

CONCERNING THE TRUSTEE 

Section 7.01. Certain Duties and Responsibilities. The Trustee, prior to the occurrence of an Event of Default and after the
curing or waiving of all Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default has occurred (which has not been cured or
waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own
affairs. 
 No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent
action, its own negligent failure to act, or its own willful misconduct, except that: 
 (a) this subsection shall not be
construed to limit the effect of the first paragraph of this Section 7.01; 
 (b) prior to the occurrence of an Event of
Default with respect to the Debt Securities of a series and after the curing or waiving of all Events of Default with respect to such series which may have occurred: 

  
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 (i) the duties and obligations of the Trustee with respect to Debt
Securities of such series shall be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations with respect to such series as are specifically set forth
in this Indenture, and no implied covenants or obligations with respect to such series shall be read into this Indenture against the Trustee; and 
 (ii) in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any
certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the
Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture; but the Trustee shall examine the evidence furnished to it pursuant to Section 5.03 to determine whether or not
such evidence conforms to the requirement of this Indenture; 
 (c) the Trustee shall not be liable for an error of judgment
made in good faith by a responsible officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (d) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it with respect to Debt Securities of any series in good faith in accordance with the direction of the
Holders of not less than a majority in aggregate principal amount of the Outstanding Debt Securities of that series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust
or power conferred upon the Trustee, under this Indenture with respect to Debt Securities of such series; and 
 (e) none of the
provisions of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any personal financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if there
shall be reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
 Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the
provisions of this Section. 

  
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 Section 7.02. Certain Rights of Trustee. Except as otherwise provided in
Section 7.01. 
 (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties;

 (b) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Company
Order (unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;

 (c) the Trustee may consult with counsel, and the advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken or suffered or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel; 
 (d) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Holders of Debt Securities of any
series pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which may be Incurred therein or thereby; 

(e) the Trustee shall not be liable for any action taken or omitted by it in good faith and reasonably believed by it to be authorized or
within the discretion or rights or powers conferred upon it by this Indenture; 
 (f) prior to the occurrence of an Event of
Default and after the curing or waiving of all Events of Default which may have occurred, the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, approval or other paper or document, unless requested in writing to do so by the Holders of a majority in aggregate principal amount of the then outstanding Debt Securities of a series affected by
such matter; provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be Incurred by it in the making of such investigation is not, in the opinion of the Trustee,
reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every such
investigation shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; 

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

(h) if any property other then cash shall at any time be subject to a Lien in favor of the Holders, the Trustee, if and to the extent
authorized by a receivership or bankruptcy court of competent jurisdiction or by the supplemental instrument subjecting such property to such Lien, shall be entitled to make advances for the purpose of preserving such property or of discharging tax
Liens or other prior Liens or encumbrances thereon; 
 (i) the Trustee shall not be liable for any action it takes or omits to
take in good faith which it reasonably believes to be authorized or within its rights or powers under this Indenture; 
 (j) the
permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as duties; and 
 (k) the
rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and
other Person employed to act hereunder. 
 Section 7.03. Trustee Not Liable for Recitals in Indenture or in Debt Securities.
The recitals contained herein and in the Debt Securities (except the Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The
Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Debt Securities of any series, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Debt
Securities and perform its obligations hereunder, and that the statements made by it or to be made by it in a Statement of Eligibility and Qualification on Form T-1 supplied to the Company are true and accurate. The Trustee shall not be accountable
for the use or application by the Company of any of the Debt Securities or of the proceeds thereof. The Trustee shall not be charged with knowledge of any Default or Event of Default hereunder unless an officer of the Trustee assigned to and working
in its corporate trust office shall have actual knowledge thereof or unless notice thereof shall have been given to the Trustee in accordance with Section 13.03 by the Company or any Holder. 

  
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 Section 7.04. Trustee, Paying Agent or Registrar May Own Debt Securities. The Trustee
or any paying agent or Registrar, in its individual or any other capacity, may become the owner or pledgee of Debt Securities and subject to the provisions of the Trust Indenture Act relating to conflicts of interest and preferential claims may
otherwise deal with the Company with the same rights it would have if it were not Trustee, paying agent or Registrar. 
 Section
7.05. Moneys Received by Trustee to Be Held in Trust. Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were
received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder. So long as no Event of Default shall have occurred and be
continuing, all interest allowed on any such moneys shall be paid from time to time to the Company upon a Company Order. 

Section 7.06. Compensation and Reimbursement. The Company covenants and agrees to pay in Dollars to the Trustee from time to time,
and the Trustee shall be entitled to, reasonable compensation for all services rendered by it hereunder (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), and, except as otherwise
expressly provided herein, the Company will pay or reimburse in Dollars the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture
(including the reasonable compensation and the expenses and disbursements of its agents, attorneys and counsel and of all Persons not regularly in its employ) except any such expense, disbursement or advances as may arise from its negligence or bad
faith. The Company also covenants to indemnify in Dollars the Trustee for, and to hold it harmless against, any loss, liability or expense Incurred without negligence, willful misconduct or bad faith on the part of the Trustee, arising out of or in
connection with the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or
duties hereunder. The obligations of the Company under this Section 7.06 to compensate and indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder and
shall survive the satisfaction and discharge of this Indenture. The Company and the Holders agree that such additional indebtedness shall be secured by a Lien prior to that of the Debt Securities upon all property and funds held or collected by the
Trustee, as such, except funds held in trust for the payment of principal of, and premium, if any, or interest on, particular Debt Securities. 

  
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 Without prejudice to any other rights available to the Trustee under applicable law, when
the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(g) or (h) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any
bankruptcy, insolvency, reorganization or other similar law. 
 Section 7.07. Right of Trustee to Rely on an Officers’
Certificate Where No Other Evidence Specifically Prescribed. Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be
proved or established prior to taking or suffering or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee,
be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any
action taken, suffered or omitted by it under the provisions of this Indenture upon the faith thereof. 
 Section 7.08.
Separate Trustee; Replacement of Trustee. The Company may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by
giving notice to the Company. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee.
The Company shall remove the Trustee if: 
 (a) the Trustee fails to comply with Section 7.10; 

(b) the Trustee is adjudged bankrupt or insolvent; 
 (c) a receiver or other public officer takes charge of the Trustee or its property; or 
 (d) the Trustee otherwise becomes incapable of acting. 
 If the Trustee resigns,
is removed by the Company or by the Holders of a majority in principal amount of the Debt Securities of a particular series and (where so removed by such Holders) such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy
exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. No resignation or removal of the Trustee and no appointment of a
successor Trustee shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of this Section 7.08. 

  
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 A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall
mail a notice of its succession to Holders of Debt Securities of each applicable series. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.06.

 If a successor Trustee does not take office within 60 days after the retiring Trustee gives notice of resignation or is
removed, the retiring Trustee or the Holders of 25% in principal amount of the Debt Securities of any applicable series may petition any court of competent jurisdiction for the appointment of a successor Trustee for the Debt Securities of such
series. 
 If the Trustee fails to comply with Section 7.10, any Holder of Debt Securities of any applicable series who has
been a bona fide Holder of such Debt Securities for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee for the Debt Securities of such series. 

Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.06
shall continue for the benefit of the retiring Trustee. 
 In the case of the appointment hereunder of a separate or successor
trustee with respect to the Debt Securities of one or more but not all series, the Company, any retiring Trustee and each successor or separate Trustee with respect to the Debt Securities of any applicable series shall execute and deliver an
Indenture supplemental hereto (1) which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of any retiring Trustee with respect to the Debt Securities of any series
as to which any such retiring Trustee is not retiring shall continue to be vested in such retiring Trustee and (2) that shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one trustee, it being understood that nothing herein or in such supplemental Indenture shall constitute such Trustees co-trustees of the same trust and that each such separate, retiring or
successor Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee. 
 Section 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business or assets to, another
corporation or banking association, the resulting, surviving or transferee corporation or banking association without any further act shall be the successor Trustee; provided, that it is qualified and eligible hereunder. 

  
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 In case at the time such successor or successors by merger, conversion or consolidation to
the Trustee shall succeed to the trusts created by this Indenture any of the Debt Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee,
and deliver such Debt Securities so authenticated; and in case at that time any of the Debt Securities shall not have been authenticated, any successor to the Trustee may authenticate such Debt Securities either in the name of any predecessor
hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Debt Securities or in this Indenture provided that the certificate of the Trustee shall have.

 Section 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of
Section 310(a) of the Trust Indenture Act. The Trustee shall have a combined capital and surplus of at least $50,000,000, as set forth in its most recent published annual report of condition. No obligor upon the Debt Securities of a particular
series or Person directly or indirectly controlling, controlled by or under common control with such obligor shall serve as Trustee upon the Debt Securities of such series. The Trustee shall comply with Section 310(b) of the Trust Indenture
Act, subject to the penultimate paragraph thereof; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the Trust Indenture Act this Indenture or any indenture or indentures under which other
securities or certificates of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the Trust Indenture Act are met. 

Section 7.11. Preferential Collection of Claims Against Company. The Trustee shall comply with Section 311(a) of the Trust
Indenture Act, excluding any creditor relationship listed in Section 311(b) of the Trust Indenture Act. A Trustee who had resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent indicated
therein. 
 Section 7.12. Compliance with Tax Laws. The Trustee hereby agrees to comply with all U.S. Federal income tax
information reporting and withholding requirements applicable to it with respect to payments of premium (if any) and interest on the Debt Securities, whether acting as Trustee, Security Registrar, paying agent or otherwise with respect to the Debt
Securities. 

  
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 ARTICLE 8 
 CONCERNING THE HOLDERS 
 Section
8.01. Evidence of Action by Holders. Whenever in this Indenture it is provided that the Holders of a specified percentage in aggregate principal amount of the Debt Securities of any or all series may take action (including the making of any
demand or request, the giving of any direction, notice, consent or waiver or the taking of any other action) the fact that at the time of taking any such action the Holders of such specified percentage have joined therein may be evidenced
(a) by any instrument or any number of instruments of similar tenor executed by Holders in person or by agent or proxy appointed in writing, (b) by the record of the Holders voting in favor thereof at any meeting of Holders duly called and
held in accordance with the provisions of Section 13.09 or (c) by a combination of such instrument or instruments and any such record of such a meeting of Holders. 
 Section 8.02. Proof of Execution of Instruments and of Holding of Debt Securities. Subject to the provisions of Sections 7.01, 7.02 and 13.09, proof of the execution of any instrument by a Holder
or his agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. 

The ownership of Registered Securities of any series shall be proved by the Debt Security Register or by a certificate of the Registrar
for such series. 
 The Trustee may require such additional proof of any matter referred to in this Section 8.02 as it
shall deem necessary. 
 Section 8.03. Who May Be Deemed Owner of Debt Securities. Prior to due presentment for
registration of transfer of any Registered Security, the Company, the Trustee, any paying agent and any Registrar may deem and treat the Person in whose name any Registered Security shall be registered upon the books of the Company as the absolute
owner of such Registered Security (whether or not such Registered Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and
premium, if any, and (subject to Sections 2.12 and 2.17) interest on such Registered Security and for all other purposes, and neither the Company nor the Trustee nor any paying agent nor any Registrar shall be affected by any notice to the contrary;
and all such payments so made to any such Holder for the time being, or upon his order, shall be valid and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Registered
Security. 

  
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 None of the Company, the Trustee, any paying agent or the Registrar will have any
responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership
interests. 
 Section 8.04. Instruments Executed by Holders Bind Future Holders. At any time prior to (but not after) the
evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage in aggregate principal amount of the Debt Securities of any series specified in this Indenture in connection with such action
and subject to the following paragraph, any Holder of a Debt Security which is shown by the evidence to be included in the Debt Securities the Holders of which have consented to such action may, by filing written notice with the Trustee at its
corporate trust office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Debt Security. Except as aforesaid any such action taken by the Holder of any Debt Security shall be conclusive and binding
upon such Holder and upon all future Holders and owners of such Debt Security and of any Debt Security issued upon registration of transfer thereof or in exchange or substitution therefor, irrespective of whether or not any notation in regard
thereto is made upon such Debt Security or such other Debt Securities. Any action taken by the Holders of the percentage in aggregate principal amount of the Debt Securities of any series specified in this Indenture in connection with such action
shall be conclusively binding upon the Company, the Trustee and the Holders of all the Debt Securities of such series. 
 The
Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders of Registered Securities entitled to give their consent or take any other action required or permitted to be taken pursuant to this Indenture.
If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders of Registered Securities at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give
such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders of Registered Securities after such record date. No such consent shall be valid or effective for more than 120 days
after such record date unless the consent of the Holders of the percentage in aggregate principal amount of the Debt Securities of such series specified in this Indenture shall have been received within such 120-day period. 

  
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 ARTICLE 9 
 SUPPLEMENTAL INDENTURES 
 Section 9.01. Purposes
for Which Supplemental Indenture May Be Entered into Without Consent of Holders. The Company, when authorized by a resolution of the Board of Directors, and the Trustee may from time to time and at any time, without the consent of Holders, enter
into an Indenture or Indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force at the date of the execution thereof) for one or more of the following purposes: 

(a) to evidence the succession pursuant to Article 10 of another Person to the Company, or successive successions, and the assumption by
the Successor Company (as defined in Section 10.01) of the covenants, agreements and obligations of the Company in this Indenture and in the Debt Securities; 
 (b) to surrender any right or power herein conferred upon the Company, to add to the covenants of the Company such further covenants, restrictions, conditions or provisions for the protection of the
Holders of all or any series of Debt Securities (and if such covenants are to be for the benefit of less than all series of Debt Securities, stating that such covenants are expressly being included solely for the benefit of such series) as the Board
of Directors shall consider to be for the protection of the Holders of such Debt Securities, and to make the occurrence, or the occurrence and continuance, of a default in any of such additional covenants, restrictions, conditions or provisions a
Default or an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture; provided, that in respect of any such additional covenant, restriction, condition or provision such supplemental
Indenture may provide for a particular period of grace after Default (which period may be shorter or longer than that allowed in the case of other Defaults) or may provide for an immediate enforcement upon such Default or may limit the remedies
available to the Trustee upon such Default or may limit the right of the Holders of a majority in aggregate principal amount of any or all series of Debt Securities to waive such default; 

(c) to cure any ambiguity or to correct or supplement any provision contained herein, in any supplemental Indenture or in any Debt
Securities of any series that may be defective or inconsistent with any other provision contained herein, in any supplemental Indenture or in the Debt Securities of such series; to convey, transfer, assign, mortgage or pledge any property to or with
the Trustee, or to make such other provisions in regard to matters or questions arising under this Indenture as shall not adversely affect the interests of any Holders of Debt Securities of any series; 

(d) to modify or amend this Indenture in such a manner as to permit the qualification of this Indenture or any Indenture supplemental
hereto under the Trust Indenture Act as then in effect, except that nothing herein contained shall permit or authorize the inclusion in any Indenture supplemental hereto of the provisions referred to in Section 316(a)(2) of the Trust Indenture
Act; 

  
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 (e) to add to or change any of the provisions of this Indenture to change or eliminate any
restrictions on the payment of principal of, or premium, if any, or interest on, Registered Securities; provided, that any such action shall not adversely affect the interests of the Holders of Debt Securities of any series in any material
respect; or permit or facilitate the issuance of Debt Securities of any series in uncertificated form; 
 (f) in the case of any
Debt Securities, if any, subordinated pursuant to Article 12, to make any change in Article 12 that would limit or terminate the benefits applicable to any holder of Senior Indebtedness (or Representatives therefor) under Article 12; 

(g) to add Guarantees with respect to the Debt Securities or to secure the Debt Securities; 

(h) to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Debt Securities;
provided, however, that any such addition, change or elimination not otherwise permitted under this Section 9.01 shall (i) neither (A) apply to any Debt Security of any series created prior to the execution of such
supplemental Indenture and entitled to the benefit of such provision nor (B) modify the rights of the Holder of any such Debt Security with respect to such provision or (ii) shall become effective only when there is no such Debt Security
outstanding; 
 (i) to evidence and provide for the acceptance of appointment hereunder by a successor or separate Trustee with
respect to the Debt Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee; and

 (j) to establish the form or terms of Debt Securities of any series as permitted by Sections 2.01 and 2.03. 

The Trustee is hereby authorized to join with the Company in the execution of any such supplemental Indenture, to make any further
appropriate agreements and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated to enter into any such supplemental
Indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Any
supplemental Indenture authorized by the provisions of this Section 9.01 may be executed by the Company and the Trustee without the consent of the Holders of any of the Debt Securities at the time outstanding, notwithstanding any of the
provisions of Section 9.02. 

  
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 In the case of any Debt Securities subordinated pursuant to Article 12, an amendment under
this Section 9.01 may not make any change that adversely affects the rights under Article 12 of any holder of Senior Indebtedness then outstanding unless the holders of such Senior Indebtedness (or any group or Representative thereof authorized
to give a consent) consent to such change. 
 After an amendment under this Section 9.01 becomes effective, the Company
shall mail to Holders of Debt Securities of each series affected thereby a notice briefly describing such amendment. The failure to give such notice to all such Holders, or any defect therein, shall not impair or affect the validity of an amendment
under this Section 9.01. 
 Section 9.02. Modification of Indenture with Consent of Holders of Debt Securities.
Without notice to any Holder but with the consent (evidenced as provided in Section 8.01) of the Holders of not less than a majority in aggregate principal amount of the outstanding Debt Securities of each series affected by such supplemental
Indenture, the Company, when authorized by a resolution of the Board of Directors, and the Trustee may from time to time and at any time enter into an Indenture or Indentures supplemental hereto (which shall conform to the provisions of the Trust
Indenture Act as in force at the date of execution thereof) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental Indenture or of modifying in any manner
the rights of the Holders of the Debt Securities of such series; provided, that no such supplemental Indenture, without the consent of the Holders of each Debt Security so affected, shall: 

(a) reduce the principal amount of, the rate of interest on, or the premium, if any, payable upon the redemption or repurchase of, the
Debt Securities; 
 (b) change the Stated Maturity of, or any installment of principal of, or interest on, the Debt Securities;

 (c) change the time at which any Debt Securities may be redeemed or repurchased; 

(d) change the place or currency of payment of principal of, or premium, if any, or interest on the Debt Securities; 

(e) impair the right to institute suit for the enforcement of any payment on or with respect to the Debt Securities on or after the
Stated Maturity or prepayment date thereof; 
 (f) reduce the percentage in principal amount of the Debt Securities required for
modification or amendment of the Indenture or the Debt Securities or for waiver of compliance with certain provisions of the Indenture or the Debt Securities or for waiver of certain defaults; or 

  
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 (g) modify or release any security that may have been granted in respect of the Debt
Securities in any manner adverse to the holders of the Debt Securities. 
 A supplemental Indenture which changes or eliminates
any covenant or other provision of this Indenture which has been expressly included solely for the benefit of one or more particular series of Debt Securities or which modifies the rights of the Holders of Debt Securities of such series with respect
to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Debt Securities of any other series. 
 Upon the request of the Company, accompanied by a copy of a resolution of the Board of Directors authorizing the execution of any such supplemental Indenture, and upon the filing with the Trustee of
evidence of the consent of Holders as aforesaid, the Trustee shall join with the Company in the execution of such supplemental Indenture unless such supplemental Indenture affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental Indenture. 
 It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed supplemental Indenture, but it shall be sufficient if such consent
shall approve the substance thereof. 
 In the case of any Debt Securities subordinated pursuant to Article 12, an amendment
under this Section 9.02 may not make any change that adversely affects the rights under Article 12 of any holder of Senior Indebtedness then outstanding unless the holders of such Senior Indebtedness (or any group or Representative thereof
authorized to give a consent) consent to such change. 
 After an amendment under this Section 9.02 becomes effective, the
Company shall mail to Holders of Debt Securities of each series affected thereby a notice briefly describing such amendment. The failure to give such notice to all such Holders, or any defect therein, shall not impair or affect the validity of an
amendment under this Section 9.02. 
 Section 9.03. Effect of Supplemental Indentures. Upon the execution of any
supplemental Indenture pursuant to the provisions of this Article 9, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under
this Indenture of the Trustee, the Company and the Holders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental
Indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

  
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 The Trustee, subject to the provisions of Sections 7.01 and 7.02, may receive an
Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such supplemental Indenture complies with the provisions of this Article 9. 
 Section 9.04. Debt Securities May Bear Notation of Changes by Supplemental Indentures. Debt Securities of any series authenticated and delivered after the execution of any supplemental Indenture
pursuant to the provisions of this Article 9 may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental Indenture. New Debt Securities of any series so modified as to
conform, in the opinion of the Trustee and the Board of Directors, to any modification of this Indenture contained in any such supplemental Indenture may be prepared and executed by the Company, authenticated by the Trustee and delivered in exchange
for the Debt Securities of such series then outstanding. Failure to make the appropriate notation or to issue a new Debt Security of such series shall not affect the validity of such amendment. 

Section 9.05. Payment for Consent. Neither the Company nor any Affiliate of the Company shall, directly or indirectly, pay or
cause to be paid any consideration, whether by way of interest fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Debt Securities unless such
consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement. 

ARTICLE 10 

CONSOLIDATION, MERGER, SALE OR CONVEYANCE 

Section 10.01. Consolidations and Mergers of the Company. The Company shall not consolidate with or merge with or into any Person,
or convey, transfer or lease all or substantially all its assets to any Person, unless: (i) either (a) the Company shall be the continuing Person in the case of a merger or (b) the resulting, surviving or transferee Person if other
than the Company (the “Successor Company”) shall be a corporation organized and existing under the laws of the United States, any State thereof or the District of Columbia and the Successor Company shall expressly assume, by an
Indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the obligations of the Company under the Debt Securities according to their tenor, and this Indenture; (ii) immediately after giving
effect to such transaction (and 

  
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treating any Indebtedness which becomes an obligation of the Successor Company or any Subsidiary of the Company as a result of such transaction as having been Incurred by the Successor Company or
such Subsidiary at the time of such transaction), no Default or Event of Default would occur or be continuing; and (iii) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation, merger, conveyance, transfer or lease and such supplemental Indenture (if any) comply with this Indenture. 

Section 10.02. Rights and Duties of Successor Corporation. In case of any consolidation, merger, conveyance, transfer or lease of
the assets of the Company in accordance with Section 10.01, the Successor Company shall succeed to and be substituted for the Company, with the same effect as if it had been named herein as the party of the first part, and the predecessor
corporation (except in the case of a lease) shall be relieved of any further obligation under the Indenture and the Debt Securities. The Successor Company thereupon may cause to be signed, and may issue either in its own name or in the name of the
Company, any or all the Debt Securities issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of the Successor Company, instead of the Company, and subject to all the terms,
conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Debt Securities which previously shall have been signed and delivered by the officers of the Company to the Trustee for authentication, and
any Debt Securities which the Successor Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Debt Securities so issued shall in all respects have the same legal rank and benefit under this Indenture as
the Debt Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all such Debt Securities had been issued at the date of the execution hereof. 

In case of any such consolidation, merger, conveyance, transfer or lease, such changes in phraseology and form (but not in substance) may
be made in the Debt Securities appertaining thereto thereafter to be issued as may be appropriate. 
 ARTICLE 11 

SATISFACTION AND DISCHARGE OF INDENTURE;
DEFEASANCE AND COVENANT 
 DEFEASANCE; UNCLAIMED
MONEYS 
 Section 11.01. Company’s Option to Effect Defeasance or Covenant Defeasance. The Company
may elect, at its option by resolution of the Company’s Board of Directors at any time, to have either Section 11.02 or Section 11.03 applied to the Outstanding Debt Securities of any series designated pursuant to Section 2.03 as
being defeasible pursuant to this Article 11 

  
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(hereinafter called “Defeasible Series”), upon compliance with the conditions set forth below in this Article 11, provided that Section 11.02 will not apply to
any series of Debt Securities that is convertible into Common Stock or convertible into or exchangeable for any other securities pursuant to Section 2.03(h). 
 Section 11.02. Defeasance and Discharge. 
 Upon the Company’s exercise
of the option provided in Section 11.01 to have this Section 11.02 applied to the Outstanding Debt Securities of any Defeasible Series and subject to the proviso to Section 11.01, the Company will be deemed to have been discharged
from its obligations with respect to the Outstanding Debt Securities of such series as provided in this Section 11.02, and all obligations of any subsidiary guarantors, as applicable, will be deemed to have been discharged with respect to the
Outstanding Debt Securities of such series and the applicable guarantees, on and after the date the conditions set forth in Section 11.04 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means
that the Company and the subsidiary guarantors, as applicable, will be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Debt Securities of such series and to have satisfied all its other obligations under the
Debt Securities of such series, any applicable guarantees, and this Indenture insofar as the Debt Securities of such series are concerned (and the Trustee, at the expense of the Company, will execute proper instruments acknowledging the same),
subject to the following which will survive until otherwise terminated or discharged hereunder: 
 (a) the rights of Holders of
Debt Securities of such series to receive, solely from the trust fund described in Section 11.04 and as more fully set forth in Section 11.04, payments in respect of the principal of and any premium and interest on such Debt Securities of
such series when payments are due, 
 (b) the Company’s obligations with respect to the Debt Securities of such series
under Sections 2.07, 2.08, 2.09, 4.02, 4.04, and 9.04, 
 (c) the rights, powers, trusts, duties, and immunities of the
Trustee hereunder, and 
 (d) this Article 11. 
 Subject to compliance with this Article 11, the Company may exercise its option provided in Section 11.01 to have this Section 11.02 applied to the Outstanding Debt Securities of any
Defeasible Series notwithstanding the prior exercise of its option provided in Section 11.01 to have Section 11.03 applied to the Outstanding Debt Securities of such series. 

  
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 Section 11.03. Covenant Defeasance. Upon the Company’s exercise of the option
provided in Section 11.01 to have this Section 11.03 applied to the Outstanding Debt Securities of any Defeasible Series, (a) the Company and the subsidiary guarantors, as applicable, will be released from their obligations under
Section 4.07, Section 10.01, and the provisions of any indenture supplemental hereto specified in such supplemental indenture, and (b) the occurrence of any event specified in Sections 6.01(c), 6.01(e) (with respect to
Section 4.07, Section 10.01, and the provisions of any indenture supplemental hereto specified in such supplemental indenture), 6.01(f), 6.01(g) and 6.01(h) (only as Sections 6.01(g) or 6.01(h) apply to any Significant Subsidiary) and
6.01(i) (and any similar, corresponding or overriding events of default provided for in any indenture supplemental hereto) will be deemed not to be or result in an Event of Default, in each case with respect to the Outstanding Debt Securities of
such series as provided in this Section on and after the date the conditions set forth in Section 11.04 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that the Company
and the subsidiary guarantors, as applicable, may omit to comply with and will have no liability in respect of any term, condition, or limitation set forth in any such specified Section (to the extent specified above in the case of
Section 6.01(e) or in any such specified provision of such supplemental indenture), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or provision or by reason of any reference in any such Section or
provision to any other provision herein or in any other document, but the remainder of this Indenture and the Debt Securities of such series will be unaffected thereby. 
 Section 11.04. Conditions to Defeasance or Covenant Defeasance. The following will be the conditions to application of either Section 11.02 or Section 11.03 to the Outstanding Debt
Securities of any Defeasible Series: 
 (a) The Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee that satisfies the requirements contemplated by Section 7.10 and agrees to comply with the provisions of this Article 11 applicable to it) as trust funds in trust for the benefit of the Holders of Outstanding
Debt Securities of such series (i) money in an amount, or (ii) U.S. Government Obligations that through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, without reinvestment,
not later than one day before the due date of any payment, money in an amount, or (iii) a combination thereof, in each case sufficient to pay and discharge, and which will be applied by the Trustee (or any such other qualifying trustee) to pay
and discharge, the principal of and any premium and interest on the Debt Securities of such series on the respective Stated Maturities or on any earlier date or dates on which the Debt Securities of such series shall be subject to redemption and the
Company shall have given the Trustee irrevocable instructions satisfactory to the Trustee to give notice to the Holders of the redemption of the Debt Securities of such series, all in accordance with the terms of this Indenture and the Debt
Securities of such series. 

  
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 (b) In the case of an election under Section 11.02, the Company shall have delivered to
the Trustee an Opinion of Counsel (from a counsel who shall not be an employee of the Company) to the effect that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the
date of this Indenture there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon, such opinion shall confirm that, the Holders of the Outstanding Debt Securities of such series will not
recognize gain or loss for federal income tax purposes as a result of the deposit, Defeasance, and discharge to be effected with respect to the Debt Securities of such series and will be subject to federal income tax on the same amount, in the same
manner, and at the same times as would be the case if such deposit, Defeasance, and discharge were not to occur. 
 (c) In the
case of an election under Section 11.03, the Company shall have delivered to the Trustee an Opinion of Counsel (from a counsel who shall not be an employee of the Company) to the effect that the Holders of the Outstanding Debt Securities of
such series will not recognize gain or loss for federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with respect to the Debt Securities of such series and will be subject to federal income tax on the same
amount, in the same manner, and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 
 (d) The Company shall have delivered to the Trustee an Officers’ Certificate to the effect that the Debt Securities of such series, if then listed on any securities exchange, will not be delisted
solely as a result of such deposit. 
 (e) No Event of Default or event that (after notice or lapse of time or both) would
become an Event of Default shall have occurred and be continuing at the time of such deposit or, with regard to any Event of Default or any such event specified in Sections 6.01(g) and 6.01(h), at any time on or prior to the 90th calendar day
after the date of such deposit (it being understood that this condition will not be deemed satisfied until after such 90th calendar day). 
 (f) Such Defeasance or Covenant Defeasance will not cause the Trustee to have a conflicting interest within the meaning of the Trust Indenture Act (assuming all Debt Securities are in default within the
meaning of such Act). 
 (g) Such Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a
default under, any other agreement or instrument to which the Company is a party or by which it is bound. 

  
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 (h) The Company shall have delivered to the Trustee a certificate from a nationally
recognized firm of independent accountants or other Person acceptable to the Trustee expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any
deposited money without investment will provide the cash at such times and in such amounts as will be sufficient to pay the principal of and any premium and interest when due on the Debt Securities of such series on the respective Stated Maturities
or on any earlier date or dates on which the Debt Securities of such series shall be subject to redemption. 
 (i) The Company
shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 

(j) Such Defeasance or Covenant Defeasance will not result in the trust arising from such deposit constituting an investment company
within the meaning of the Investment Company Act of 1940, as amended, unless such trust will be qualified under such Act or will be exempt from regulation thereunder. 
 Section 11.05. Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions. 
 (a) Subject to the provisions of Section 4.04, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes
of this Section 11.05 and Section 11.06, the Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to Section 11.04 in respect of the Debt Securities of any Defeasible Series will
be held in trust and applied by the Trustee, in accordance with the provisions of the Debt Securities of such series and this Indenture, to the payment, either directly or through any such paying agent (including the Company acting as its own paying
agent) as the Trustee may determine, to the Holders of Debt Securities of such series, of all sums due and to become due thereon in respect of principal and any premium and interest, but money so held in trust need not be segregated from other funds
except to the extent required by law. 
 (b) The Company will pay and indemnify the Trustee against any tax, fee, or other
charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 11.04 or the principal and interest received in respect thereof other than any such tax, fee, or other charge that by law is for the account of
the Holders of Outstanding Debt Securities. 

  
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 (c) Notwithstanding anything in this Article 11 to the contrary, the Trustee will
deliver or pay to the Company from time to time upon a Company Order any money or U.S. Government Obligations held by it as provided in Section 11.04 with respect to Debt Securities of any Defeasible Series that are in excess of the amount
thereof that would then be required to be deposited to effect an equivalent Defeasance or Covenant Defeasance with respect to the Debt Securities of such series. 
 Section 11.06. Indemnity for U.S. Government Obligations. The Company shall pay and shall indemnify the Trustee and the Holders against any tax, fee or other charge imposed on or assessed against
deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. 
 Section
11.07. Reinstatement. If the Trustee or any paying agent is unable to apply any money in accordance with this Article 11 with respect to the Debt Securities of any series by reason of any order or judgment of any court or governmental
authority enjoining, restraining, or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Debt Securities of such series will be revived and reinstated as though no deposit had occurred pursuant to
this Article 11 with respect to Debt Securities of such series until such time as the Trustee or any paying agent is permitted to apply all money held in trust pursuant to Section 11.05 with respect to Debt Securities of such series in
accordance with this Article 11; provided, however, that if the Company makes any payment of principal of or any premium or interest on any Security of such series following the reinstatement of its obligations, the Company will be subrogated
to the rights of the Holders of Debt Securities of such series to receive such payment from the money so held in trust. 

Section 11.08. Satisfaction and Discharge of Indenture. 
 This Indenture will upon a Company Order cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Debt Securities herein expressly provided for), and the
Trustee, at the expense the Company, will execute proper instruments acknowledging satisfaction and discharge of this Indenture, when: 
 (a) either (i) all Debt Securities theretofore authenticated and delivered (other than (A) Debt Securities which have been destroyed, lost, or stolen and which have been replaced or paid as
provided in Section 2.09 and (B) Debt Securities for the payment of which money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as
provided in Section 4.04) have been delivered to the Trustee for cancellation or (ii) all such Debt Securities not theretofore delivered to the Trustee for cancellation (A) have become due and payable, (B) will become due and
payable at their Stated Maturity within one year, or (C) are to be called for redemption within one year under arrangements 

  
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satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, and the Company, in the case of clause (A), (B), or
(C) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose an amount sufficient to pay and discharge the entire indebtedness on such Debt Securities not theretofore delivered to the Trustee for
cancellation, for principal and any premium and interest to the date of such deposit (in the case of Debt Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

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

(c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture have been satisfied. Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.06,
and, if money shall have been deposited with the Trustee pursuant to subclause (ii) of clause (a) of this Section 11.01, the obligations of the Trustee under Sections 4.04 and 11.09, will survive. 

Section 11.09. Application of Trust Money. Subject to the provisions of Section 4.04, all money deposited with the Trustee
pursuant to Section 11.08 will be held in trust and applied by it, in accordance with the provisions of the Debt Securities and this Indenture, to the payment, either directly or through any paying agent (including the Company acting as its own
paying agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for the payment of which such money has been deposited with the Trustee; and such money shall be segregated from other funds
to the extent required by law. 
 ARTICLE 12 
 SUBORDINATION OF DEBT SECURITIES 
 Section 12.01. Agreement to Subordinate. The Company agrees, and each Holder by accepting Debt Securities agrees, that the payment of principal, premium, if any, and interest on, and other
Indebtedness evidenced by, the Debt Securities is subordinated in right of payment, to the extent and in the manner provided in this Article 12, to the prior payment in full of all Senior Indebtedness (whether outstanding on the date hereof or
hereafter incurred) of the Company, will rank equally in right of payment with all existing and future Senior Subordinated Indebtedness of the Company and will be senior in right of payment to all existing and future Subordinated Obligations of the
Company, and that the subordination is for the benefit of the holders of Senior Indebtedness. 

  
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 Section 12.02. Liquidation, Dissolution, Bankruptcy. In the event of: 

(a) a total or partial liquidation or a dissolution of the Company; 

(b) a reorganization, bankruptcy, insolvency, receivership of or similar proceeding relating to the Company or its property; or

 (c) an assignment for the benefit of creditors or marshaling of the Company’s assets and liabilities, then 

the holders of Senior Indebtedness will be entitled to receive payment in full in cash or Cash Equivalents in respect of Senior Indebtedness (including
interest accruing after, or which would accrue but for, the commencement of any proceeding at the rate specified in the applicable Senior Indebtedness, whether or not a claim for such interest would be allowed in such proceeding) before the Holders
of Debt Securities will be entitled to receive any payment or distribution, in the event of any payment or distribution of the assets or securities of the Company. In addition, until the Senior Indebtedness is paid in full in cash or Cash
Equivalents, any payment or distribution to which holders of Debt Securities would be entitled but for the subordination provisions of the Indenture will be made to holders of the Senior Indebtedness as their interests may appear. If a payment or
distribution is made to Holders of Debt Securities that, due to the subordination provisions, should not have been made to them, the Holders shall hold it in trust for the holders of Senior Indebtedness and pay the payment or distribution over to
holders of Senior Indebtedness, as their interests may appear. 
 Section 12.03. Default on Senior Indebtedness. The
Company may not pay principal of, premium, if any, or interest on, or other payment obligations in respect of, Debt Securities or make any deposit and may not otherwise repurchase, redeem or retire any Debt Securities (collectively, “pay the
Debt Securities”) if: 
 (a) any Senior Indebtedness is not paid when due in cash or Cash Equivalents; or 

(b) any other default on Senior Indebtedness occurs and is continuing with respect to Senior Indebtedness and the maturity of the Senior
Indebtedness is accelerated in accordance with its terms; 
 unless, in either case, the Senior Indebtedness has been paid in full in cash or
Cash Equivalents and, in the case of revolving Indebtedness, all commitments to lend thereunder have been terminated or the default has been cured or waived and any acceleration has been rescinded. However, the Company may pay the Debt

  
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Securities if the Company and the Trustee receive written notice approving such payment from the Representative of the Senior Indebtedness with respect to which either of the events set forth in
clause (a) or (b) of the immediately preceding sentence has occurred and is continuing. 
 The Company also will not
be permitted to pay the Debt Securities for a Payment Blockage Period (as defined below) during the continuance of any default, other than a default described in clause (a) or (b) of the preceding paragraph, on any Designated Senior
Indebtedness that permits the holders of the Designated Senior Indebtedness to accelerate its maturity immediately without either further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable
grace periods. 
 A “Payment Blockage Period” commences on the receipt by the Trustee (with a copy to the
Company) of written notice (a “Blockage Notice”) of a default of the kind described in the immediately preceding paragraph from the Representative of the holders of the Designated Senior Indebtedness specifying an election to effect
a Payment Blockage Period and ends 179 days after receipt of the notice. The Payment Blockage Period will end earlier if the Payment Blockage Period is terminated: 
 (a) by written notice to the Trustee and the Company from the Person or Persons who gave the Blockage Notice; 
 (b) because the default giving rise to the Blockage Notice is no longer continuing; or 
 (c) because the Designated Senior Indebtedness has been repaid in full. 
 The
Company may resume payments on the Debt Securities after the end of a Payment Blockage Period (including any missed payments) unless the holders of the Designated Senior Indebtedness or the Representatives of such holders have accelerated the
maturity of the Designated Senior Indebtedness. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to Designated Senior Indebtedness during that period. However, if
any Blockage Notice within such 360-day period is given by or on behalf of any holders of Designated Senior Indebtedness other than the Bank Indebtedness, the Representatives of the Bank Indebtedness may give another Blockage Notice within that
period. In no event, however, may the total number of days during which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during any consecutive 360-day period. No Default or Event of Default that existed or was
continuing on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Indebtedness initiating the Payment Blockage Period shall be, or be made, the basis of the commencement of a

  
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subsequent Payment Blockage Period by the Representative of the Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such Default or Event of Default
shall have been cured or waived for a period of not less than 90 consecutive days. 
 Section 12.04. Acceleration of Payment
of Debt Securities. The Company or the Trustee shall promptly notify holders of Designated Senior Indebtedness if payment of the Debt Securities is accelerated because of an Event of Default. 

Section 12.05. When Distribution Must Be Paid Over. In the event that the Trustee or any Holder receives any payment of any
Indebtedness with respect to the Debt Securities at a time when the Trustee or such Holder, as applicable, has actual knowledge that such payment is prohibited by Section 12.03 hereof, such payment shall be held by the Trustee or such Holder,
in trust for the benefit of and, upon written request, shall be paid forthwith over and delivered to, the holders of Senior Indebtedness as their interests may appear or their Representative under the indenture or other agreement (if any) pursuant
to which Senior Indebtedness may have been issued, as their respective interests may appear, for application to the payment of all obligations with respect to Senior Indebtedness remaining unpaid to the extent necessary to pay such obligations in
full in accordance with their terms, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness. 
 With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform only such obligations on the part of the Trustee as are specifically set forth in this Article 12, and no implied
covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness, and shall not be
liable to any such holders if the Trustee shall pay over or distribute to or on behalf of Holders or the Company or any other Person money or assets to which any holders of Senior Indebtedness shall be entitled by virtue of this Article 12, except
if such payment is made as a result of the willful misconduct or gross negligence of the Trustee. 
 Section 12.06. Notice by
the Company. The Company shall promptly notify the Trustee and any paying agent of any facts known to the Company that would cause a payment of any Indebtedness with respect to the Debt Securities to violate this Article 12, but failure to give
such notice shall not affect the subordination of the Debt Securities to the Senior Indebtedness as provided in this Article. 

The Company may not pay the Debt Securities until five business days after such holders or the Representative of the Designated Senior
Indebtedness receives notice of such acceleration and, after that five business day period, may pay the Debt Securities only if this Article 12 otherwise permits payment at that time. 

  
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 Section 12.07. Subrogation. After all Senior Indebtedness is irrevocably paid in full
in cash or Cash Equivalents reasonably satisfactory to the holders thereof and until the Debt Securities are paid in full, Holders shall be subrogated (equally and ratably with all other Senior Subordinated Indebtedness pari passu with the
Debt Securities) to the rights of holders of Senior Indebtedness to receive distributions applicable to Senior Indebtedness to the extent that distributions otherwise payable to the Holders have been applied to the payment of Senior Indebtedness. A
distribution made under this Article 12 to holders of Senior Indebtedness that otherwise would have been made to Holders is not, as between the Company and Holders, a payment by the Company on the Debt Securities. 

Section 12.08. Relative Rights. This Article 12 defines the relative rights of Holders and holders of Senior Indebtedness. Nothing
in this Indenture shall: 
 (a) impair, as between the Company and Holders, the obligation of the Company, which is absolute and
unconditional, to pay principal of and interest on the Debt Securities in accordance with their terms; 
 (b) affect the
relative rights of Holders and other creditors of the Company other than their rights in relation to holders of Senior Indebtedness; or 
 (c) prevent the Trustee or any Holder from exercising its available remedies upon a Default or Event of Default, subject to the rights of holders and owners of Senior Debt to receive distributions and
payments otherwise payable to Holders. 
 If the Company fails because of this Article 12 to pay principal of or interest on
Debt Securities on the due date, the failure is still a Default or Event of Default. 
 Section 12.09. Subordination May Not
Be Impaired by Company. No right of any holder of Senior Indebtedness to enforce the subordination of the Indebtedness evidenced by the Debt Securities shall be impaired by any act or failure to act by the Company or any Holder or by the failure
of the Company or any Holder to comply with this Indenture. 
 Section 12.10. Distribution or Notice to Representative.
Whenever a distribution is to be made or a notice given to holders of Senior Indebtedness, the distribution may be made and the notice given to their Representative. 

  
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 Upon any payment or distribution of assets of the Company referred to in this Article 12,
the Trustee and the Holders shall be entitled to rely upon any order or decree made by any court of competent jurisdiction or upon any certificate of such Representative or of the liquidating trustee or agent or other Person making any distribution
to the Trustee or to the Holders for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of Senior Indebtedness and other Indebtedness of the Company, the amount thereof or payable thereon, the amount or
amounts paid or distributed thereon and all other facts pertinent thereto or to this Article 12. 
 Section 12.11. Rights of
Trustee and Paying Agent. Notwithstanding the provisions of this Article 12 or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment or
distribution by the Trustee, and the Trustee and any paying agent may continue to make payments on the Debt Securities, unless the Trustee shall have received at its Corporate Trust Office at least one Business Day prior to the date of such payment
written notice that such payment is not to be made pursuant to this Article 12 and of the underlying facts that would cause the payment of any obligations with respect to the Debt Securities to violate this Article. Only the Company or a
Representative may give the notice. Nothing in this Article 12 shall impair the claims of, or payments to, the Trustee under or pursuant to Section 7.06 of this Indenture. 

The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior
Indebtedness (or a Representative of such holder) to establish that such notice has been given by a holder of Senior Indebtedness (or a Representative of any such holder). In the event that the Trustee determines in good faith that further evidence
is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article 12, the Trustee may request such Person to furnish evidence to the reasonable satisfaction
of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article 12,
and if such evidence is not furnished, the Trustee may defer any payment which it may be required to make for the benefit of such Person pursuant to the terms of this Indenture pending judicial determination as to the rights of such Person to
receive such payment. 
 The Trustee in its individual or any other capacity may hold Senior Indebtedness with the same rights
it would have if it were not Trustee. Any agent may do the same with like rights. 
 Section 12.12. Authorization to Effect
Subordination. Each Holder of Debt Securities by the Holder’s acceptance thereof authorizes and directs the Trustee on the Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination as
provided in this Article 12, and appoints the Trustee to act as the Holder’s attorney-in-fact for any and all such purposes. 

  
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 Section 12.13. Subordination of Subsidiary Guarantees. The obligations of any
subsidiary guarantor under any subsidiary guarantee of Debt Securities are subordinated in right of payment to the obligations of any guarantor under its Senior Debt in the same manner and to the same extent that the Debt Securities are subordinated
to Senior Indebtedness of the Company pursuant to this Article 12. 
 Section 12.14. Amendment to the Subordination
Provisions of the Indenture. (a) No amendment may be made to the subordination provisions of the Indenture that adversely affects the rights of any holder of Senior Indebtedness then outstanding unless the holders of such Senior
Indebtedness (or any group or representative thereof authorized to give a consent) consent to such change. 
 (b) Any amendment
to Article 12 of this Indenture that adversely affects the rights of any Holder of Debt Securities will require the consent of the Holders of at least 66-2/3% in aggregate principal amount of the Debt Securities then outstanding. 

Section 12.15. Nothing in this Article 12 shall apply to claims of, or payments to, the Trustee hereunder, including pursuant to
Section 7.06. 
 ARTICLE 13 
 MISCELLANEOUS PROVISIONS 
 Section 13.01.
Successors and Assigns of Company Bound by Indenture. All the covenant’s stipulations, promises and agreements in this Indenture contained by or in behalf of the Company or the Trustee shall bind its successors and assigns, whether so
expressed or not. 
 Section 13.02. Acts of Board, Committee or Officer of Successor Company Valid. Any act or proceeding
by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with like force and effect by the like board, committee or officer of any
Successor Company. 
 Section 13.03. Required Notices or Demands. Except as otherwise expressly provided in this
Indenture, any notice or demand which by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders to or on the Company may be given or served by being deposited first class mail, postage
prepaid, in a post office letter box in the United States addressed (until another address is filed by the Company with the Trustee) 

  
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as follows: Unit Corporation, 7130 South Lewis, Tulsa, Oklahoma 74136, Attention: Chief Financial Officer. Except as otherwise expressly provided in this Indenture, any notice, direction, request
or demand by the Company or by any Holder to or upon the Trustee may be given or made, for all purposes, by being deposited first class mail, postage prepaid, in a post office letter box in the United States addressed to the corporate trust office
of the Trustee initially at 246 Goose Lane, Suite 105, Guilford, CT 06437, Attention: Unit Corporation Adminstrator. 
 The
Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 
 Any notice required or permitted to a Registered Holder by the Company or the Trustee pursuant to the provisions of this Indenture shall be deemed to be properly mailed by being deposited first class
mail, postage prepaid, in a post office letter box in the United States addressed to such Holder at the address of such Holder as shown on the Debt Security Register (and in the case of Global Securities, sent in accordance with the procedures of
the Depositary). Any report pursuant to Section 313 of the Trust Indenture Act shall be transmitted in compliance with subsection (c) therein. 
 In the event of suspension of regular mail service or by reason of any other cause it shall be impracticable to give notice by mail, then such notification as shall be given with the approval of the
Trustee shall constitute sufficient notice for every purpose thereunder. 
 Failure to mail a notice or communication to a
Holder or any defect in it or any defect in any notice by publication as to a Holder shall not affect the sufficiency of such notice with respect to other Holders. If a notice or communication is mailed or published in the manner provided above, it
is conclusively presumed duly given. 
 Section 13.04. Indenture and Debt Securities to Be Construed in Accordance with the
Laws of the State of New York. This Indenture and each Debt Security shall be deemed to be New York contracts, and for all purposes shall be construed in accordance with the laws of said State (without reference to principles of conflicts of
law). 
 Section 13.05. Officers’ Certificate and Opinion of Counsel to Be Furnished upon Application or Demand by the
Company. Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent
provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent 

  
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have been complied with, except that in the case of any such application or demand as to which the furnishing of such document is specifically required by any provision of this Indenture relating
to such particular application or demand, no additional certificate or opinion need be furnished. 
 Each certificate (other
than an Officers’ Certificate provided pursuant to Section 4.05) or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include
(1) a statement that the Person making such certificate or opinion has read such covenant or condition, (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in
such certificate or opinion are based, (3) a statement that, in the opinion of such Person, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or
condition has been complied with and (4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with. 
 Section 13.06. Payments Due on Legal Holidays. In any case where the date of maturity of interest on or principal of and premium, if any, on the Debt Securities of a series or the date fixed for
redemption or repayment of any Debt Security or the making of any sinking fund payment shall not be a business day at any Place of Payment for the Debt Securities of such series, then payment of interest or principal and premium, if any, or the
making of such sinking fund payment need not be made on such date at such Place of Payment, but may be made on the next succeeding business day at such Place of Payment with the same force and effect as if made on the date of maturity or the date
fixed for redemption, and no interest shall accrue for the period after such date. If a record date is not a business day, the record date shall not be affected. 
 Section 13.07. Provisions Required by Trust Indenture Act to Control. If and to the extent that any provision of this Indenture limits, qualifies or conflicts with another provision included in
this Indenture which is required or deemed to be included herein by operation of the Trust Indenture Act, such required or deemed provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture
Act which may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or excluded, as the case may be. 
 Section 13.08. Computation of Interest on Debt Securities. Interest, if any, on the Debt Securities shall be computed on the basis of a 360-day year of twelve 30-day months, except as may otherwise
be provided pursuant to Section 2.03. 

  
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 Section 13.09. Rules by Trustee, Paying Agent and Registrar. The Trustee may make
reasonable rules for action by or a meeting of Holders. The Registrar and any paying agent may make reasonable rules for their functions. 
 Section 13.10. No Recourse Against Others. An incorporator or any past, present or future director, officer, employee or stockholder, as such, of the Company shall not have any liability for any
obligations of the Company under the Debt Securities or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Debt Security, each Holder shall waive and release all such liability.
The waiver and release shall be part of the consideration for the issue of the Debt Securities. 
 Section 13.11.
Severability. In case any provision in this Indenture or the Debt Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 Section 13.12. Effect of Headings. The article and section headings herein and in the Table of Contents are for
convenience only and shall not affect the construction hereof. 
 Section 13.13. Indenture May Be Executed in Counterparts.
This Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 

[Signature Page Follows] 

  
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 The Trustee hereby accepts the trusts in this Indenture upon the terms and conditions herein
set forth. 
 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly signed as of the date first written
above. 
  

			
	UNIT CORPORATION
		
	By:	 	/s/ Larry D. Pinkston        
		 	Name: Larry D. Pinkston
		 	Title: President and Chief Executive Officer

  

			
	By:	 	/s/ David T. Merrill        
		 	Name: David T. Merrill
		 	Title: Chief Financial Officer

  

			
	 WILMINGTON TRUST, National

     Association, as Trustee

		
	By:	 	/s/ Jane Schweiger        
		 	Name: Jane Schweiger
		 	Title: Vice President

 [Signature Page to Indenture]

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