Document:

EX-4.C

 Exhibit No. 4(c) 

SUPPLEMENTAL INDENTURE 

Supplemental Indenture (this “Supplemental Indenture”), dated as of October 31, 2014, among Avent Inc., Halyard
Healthcare, Inc., Halyard Sales, LLC and Halyard North Carolina, Inc. (together, the “Guaranteeing Subsidiaries” and each the “Guaranteeing Subsidiary”), all Subsidiaries of Halyard Health, Inc., a Delaware
corporation (“the “Issuer”), the Issuer, and Deutsche Bank Trust Company Americas, a New York banking corporation, as trustee (the “Trustee”). 

W I T N E S S E T H 

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of
October 17, 2014, providing for the issuance of an unlimited aggregate principal amount of Senior Notes due 2022 (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiaries shall execute and deliver to the Trustee
a supplemental indenture pursuant to which the Guaranteeing Subsidiaries shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein and under the Indenture
(the “Guarantee”); and 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to
execute and deliver this Supplemental Indenture. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

(1) Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

(2) Agreement to Guarantee. Each Guaranteeing Subsidiary hereby agrees as follows: 

(a) Along with all Guarantors named in the Indenture, to jointly and severally unconditionally guarantee to each Holder
authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of the Indenture, the Notes or the obligations of the Issuer hereunder or thereunder, that: 

(i) the principal of and interest and premium on the Notes will be promptly paid in full when due, whether at maturity,
by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Issuer to the Holders or the Trustee hereunder or thereunder will be promptly paid
in full or performed, all in accordance with the terms hereof and thereof; and 

 (ii) in case of any extension of time of payment or renewal of any Notes or
any of such other obligations, that same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount
so guaranteed or any performance so guaranteed for whatever reason, the Guarantors and each Guaranteeing Subsidiary shall be jointly and severally obligated to pay the same immediately. This is a guarantee of payment and not a guarantee of
collection. 
 (b) The obligations hereunder shall be unconditional, irrespective of the validity, regularity or
enforceability of the Notes or the Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery of any judgment against the Issuer, any action to
enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. 

(c) The following is hereby waived: diligence, presentment, demand of payment, filing of claims with a court in the event of
insolvency or bankruptcy of the Issuer, any right to require a proceeding first against the Issuer, protest, notice and all demands whatsoever. 

(d) This Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes, the
Indenture and this Supplemental Indenture, and each Guaranteeing Subsidiary accepts all obligations of a Guarantor under the Indenture. 

(e) If any Holder or the Trustee is required by any court or otherwise to return to the Issuer, the Guarantors (including each
Guaranteeing Subsidiary), or any custodian, trustee, liquidator or other similar official acting in relation to either the Issuer or the Guarantors, any amount paid either to the Trustee or such Holder, this Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect. 
 (f) As between each Guaranteeing Subsidiary, on the one hand,
and the Holders and the Trustee, on the other hand, (i) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 of the Indenture for the purposes of this Guarantee, notwithstanding any stay, injunction
or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such obligations as provided in Article 6 of the Indenture, such obligations
(whether or not due and payable) shall forthwith become due and payable by such Guaranteeing Subsidiary for the purpose of this Guarantee. 

(g) To the extent that any Guaranteeing Subsidiary makes a payment under its Guarantee, such Guaranteeing Subsidiary shall be
entitled upon payment in full of all guaranteed obligations under the Indenture to a contribution from each other Guarantor in an amount equal to such other Guarantor’s pro rata portion of such payment based on the respective net assets of all
the Guarantors at the time of such payment determined in accordance with GAAP. 

 (h) Pursuant to Section 10.02 of the Indenture, after giving effect to all
other contingent and fixed liabilities that are relevant under any applicable Bankruptcy Law or fraudulent conveyance laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any
other Guarantor in respect of the obligations of such other Guarantor under Article 10 of the Indenture, this new Guarantee shall be limited to the maximum amount permissible such that the obligations of such Guaranteeing Subsidiary under this
Guarantee will not constitute a fraudulent transfer or conveyance. 
 (i) This Guarantee shall remain in full force and
effect and continue to be effective should any petition be filed by or against the Issuer for liquidation, reorganization, should the Issuer become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be
appointed for all or any significant part of the Issuer’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes are,
pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes and Guarantee, whether as a “voidable preference,” “fraudulent transfer” or
otherwise, all as though such payment or performance had not been made. In the event that any payment or any part thereof, is rescinded, reduced, restored or returned, the Note shall, to the fullest extent permitted by law, be reinstated and deemed
reduced only by such amount paid and not so rescinded, reduced, restored or returned. 
 (j) In case any provision of this
Guarantee 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. 

(k) This Guarantee shall be a general unsecured senior obligation of such Guaranteeing Subsidiary. 

(l) Each payment to be made by any Guaranteeing Subsidiary in respect of this Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 
 (3) Execution and
Delivery. Each Guaranteeing Subsidiary agrees that the Guarantee shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes. 

(4) Merger, Consolidation or Sale of All or Substantially All Assets. 

(a) Except as otherwise provided in Section 5.01(b) of the Indenture, no Guaranteeing Subsidiary may consolidate or merge
with or into or wind up into (whether or not the Issuer or Guaranteeing Subsidiary is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one or more
related transactions, to any Person unless: 
 (i)    (A) such Guaranteeing Subsidiary is the surviving
corporation or the Person formed by or surviving any such consolidation or 

 
merger (if other than such Guaranteeing Subsidiary) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation organized or existing
under the laws of the jurisdiction of organization of such Guaranteeing Subsidiary, as the case may be, or the laws of the United States, any state thereof, the District of Columbia, or any territory thereof (such Guaranteeing Subsidiary or such
Person, as the case may be, being herein called the “Successor Person”); 
 (B) the Successor Person, if
other than such Guaranteeing Subsidiary, expressly assumes all the obligations of such Guaranteeing Subsidiary under the Indenture and such Guaranteeing Subsidiary’s related Guarantee pursuant to supplemental indentures or other documents or
instruments in form reasonably satisfactory to the Trustee; 
 (C) immediately after such transaction, no Default exists;
and 
 (D) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each
stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with the Indenture, and, with respect to the Opinion of Counsel, such supplemental indentures (or other documents setting forth the assumption of
the obligations of the applicable Guarantor) constitute a legal, valid and binding obligation of the Successor Person, enforceable against such Successor Person in accordance with its terms; or 

(ii) the transaction is not prohibited by the Indenture; 

(b) Subject to certain limitations described in the Indenture, the Successor Person will succeed to, and be substituted for,
such Guaranteeing Subsidiary under the Indenture and the Guaranteeing Subsidiary’s Guarantee. Notwithstanding the foregoing, the Guaranteeing Subsidiary may merge into or transfer all or part of its properties and assets to another Guarantor or
the Issuer. 
 (5) Releases. The Guarantee of a Guaranteeing Subsidiary shall be automatically and unconditionally released and
discharged, and no further action by such Guaranteeing Subsidiary, the Issuer or the Trustee is required for the release of such Guaranteeing Subsidiary’s Guarantee, upon: 

(a)    (i) any direct or indirect sale, exchange or transfer (by merger or otherwise) of (i) the
Capital Stock of such Guaranteeing Subsidiary (including any sale, exchange or transfer), after which such Guaranteeing Subsidiary is no longer a Restricted Subsidiary or (ii) all or substantially all the assets of such Guaranteeing Subsidiary
which sale, exchange or transfer is not prohibited by the applicable provisions of the Indenture; 
 (ii) the release or
discharge of such Guaranteeing Subsidiary from the guarantee of Indebtedness that resulted in the obligation of such 

 
Guaranteeing Subsidiary to guarantee the Notes (including the Senior Credit Facilities), except a discharge or release by or as a result of payment under such guarantee; 

(iii) the proper designation of such Guaranteeing Subsidiary as an Unrestricted Subsidiary; or 

(iv) the Issuer exercising its Legal Defeasance option or Covenant Defeasance option in accordance with Article 8 of the
Indenture or the Issuer’s obligations under the Indenture being discharged in accordance with the terms of the Indenture; and 

(b) the Issuer delivering to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent provided for in the Indenture relating to such transaction have been complied with. 
 (6) No Recourse Against
Others. No director, officer, employee, incorporator or stockholder of any Guaranteeing Subsidiary shall have any liability for any obligations of the Issuer or the Guarantors (including such Guaranteeing Subsidiary) under the Notes, any
Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting Notes waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the Notes. 
 (7) Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 (8) Counterparts. The parties may sign any number
of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission
shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture and signature pages for all purposes. 

(9) Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof. 

(10) The Trustee. The Trustee accepts the amendments of the Indenture effected by this Supplemental Indenture, but on the terms and
conditions set forth in the Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by each Guaranteeing Subsidiary. 

(11) Subrogation. Each Guaranteeing Subsidiary shall be subrogated to all rights of Holders of Notes against the Issuer in respect
of any amounts paid by such 

 
Guaranteeing Subsidiary pursuant to the provisions of Section 2 hereof and Section 10.01 of the Indenture; provided that no Guaranteeing Subsidiary shall be entitled to enforce
or receive any payments arising out of, or based upon, such right of subrogation until all obligations of the Issuer under the Indenture and the Notes shall have been paid in full. 

(12) Benefits Acknowledged. Each Guaranteeing Subsidiary’s Guarantee is subject to the terms and conditions set forth in the
Indenture. Each Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture and that the guarantee and waivers made by it
pursuant to this Guarantee are knowingly made in contemplation of such benefits. 
 (13) Successors. All agreements of each
Guaranteeing Subsidiary in this Supplemental Indenture shall bind its Successors, except as otherwise provided in Section 2(j) hereof or elsewhere in this Supplemental Indenture. All agreements of the Trustee in this Supplemental Indenture
shall bind its successors. 
 (14) Representation and Warranty. Each Guaranteeing Subsidiary hereby represents and warrants that this
Supplemental Indenture is its legal, valid and binding obligation, enforceable against it in accordance with its terms. 
 [Remainder of page
intentionally left blank] 

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

					
	HALYARD HEALTH, INC., as Issuer
		
	By:		 /s/ Steven Voskuil

			Name:		Steven Voskuil
			Title:		Senior Vice President and Chief Financial Officer
	
	AVENT, INC.
		
	By:		 /s/ John W. Wesley

			Name:		John W. Wesley
			Title:		Senior Vice President, General Counsel and Secretary
	
	HALYARD HEALTHCARE, INC.
		
	By:		 /s/ John W. Wesley

			Name:		John W. Wesley
			Title:		Senior Vice President, General Counsel and Secretary
	
	HALYARD SALES, LLC
		
	By:		 /s/ John W. Wesley

			Name:		John W. Wesley
			Title:		Senior Vice President, General Counsel and Secretary
	
	HALYARD NORTH CAROLINA, INC.
		
	By:		 /s/ John W. Wesley

			Name:		John W. Wesley
			Title:		Senior Vice President, General Counsel and Secretary

 
			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:		Deutsche Bank National Trust Company
		
	By:		 /s/ Linda Reale

	Name:		Linda Reale
	Title:		Vice President
		
	By:		 /s/ Rodney Gaughan

	Name:		Rodney Gaughan
	Title:		Vice President

 [Signature Page to Supplemental Indenture]EX-10.4

 Exhibit 10.4 

Execution Version 

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

This THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is made and entered into as of
July 20, 2015 by and among GC AESTHETICS FINANCE LIMITED, a private limited company incorporated in Ireland (the “Borrower”) and ROYALTY OPPORTUNITIES S.À. R.L., a Luxembourg société à
responsabilité limitée (together with its Affiliates, successors, transferees and assignees, the “Lender”). 

WHEREAS, the Borrower and the Lender entered into an Amended and Restated Credit Agreement, dated as of November 26, 2014, as
amended by a certain First Amendment to Amended and Restated Credit Agreement, dated as of April 27, 2015 and by a certain Waiver and Second Amendment to Amended and Restated Credit Agreement, dated as of May 13, 2015 (as so amended, the
“Credit Agreement”), pursuant to which the Lender has extended credit to the Borrower on the terms set forth therein; 

WHEREAS, GC Aesthetics plc has filed a registration with the SEC for an initial public offering of its common stock (the
“IPO”); 
 WHEREAS, the Borrower and the Lender wish to amend the Credit Agreement to remove, upon completion of the
IPO, the board observation rights granted to the Lender pursuant to Section 7.14 of the Credit Agreement and the other revisions to the Credit Agreement set forth herein; and 

WHEREAS, pursuant to Section 12.1 of the Credit Agreement, the Credit Agreement may be amended by an instrument in writing signed
by each of the Borrower and the Lender. 
 NOW, THEREFORE, in consideration of the mutual agreements herein contained, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1.
Definitions; Loan Document. Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Credit Agreement. This Amendment shall constitute a Loan Document for all purposes of the Credit
Agreement and the other Loan Documents. 
 2. Amendment to Section 7.1. Section 7.1 of the Credit Agreement is
hereby amended by adding the following sentence at the end thereof: 
 “Documents, statements and notices required to be delivered
pursuant to this Section 7.1(b) and (c) (“Financial Statement Deliverables”) (to the extent any such Financial Statement Deliverables are included in materials otherwise filed with the SEC) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such Financial Statement Deliverables, or provides a link thereto, on the Borrower’s

 
website on the Internet at the website address identified to the Lender; or (ii) on which such Financial Statement Deliverables are posted on the Borrower’s behalf on an Internet or
intranet website, if any, to which the Lender has access; provided, that: (i) the Borrower shall have notified the Lender (by facsimile or email) of the posting of any such Financial Statement Deliverables, and (ii) the
Borrower shall deliver paper copies of such Financial Statement Deliverables to the Lender upon its request. Notwithstanding the foregoing, if the Borrower would, but for this sentence, be required to provide any documents, statements and notices
required to be delivered pursuant to this Section 7.1 (“Deliverables”) that include any information that is not publicly available, the Borrower shall exclude such nonpublic information from such Deliverables provided to
the Lender; provided, that the Borrower shall, (i) inform the Lender (without disclosing any information that is not publicly available) of the fact that information that would have otherwise been included in such Deliverables is not
publicly available and was therefore excluded, and (ii) upon the request of the Lender, include such non-public information in such Deliverables (including any previous Deliverables that were delivered without such non-public information).
Compliance by the Borrower with the requirements of the foregoing sentence shall be deemed to be compliance with this Section 7.1 with respect to any information that is not publicly available that the Borrower would have otherwise been
required to deliver to the Lender but for the preceding sentence; provided that the foregoing shall not limit the Borrower’s obligations under Section 7.1(f) to notify the Lender of the occurrence of any Default.” 

3. Amendment to Section 7.14. Section 7.14 of the Credit Agreement is hereby amended and restated in its entirety to
read as follows: 
 “SECTION 7.14 Reserved.” 

4. Amendment to Section 7.23. Section 7.23 of the Credit Agreement is hereby amended by restating it in its entirety
as follows: 
 “Section 7.23 Quarterly Update Call. The chief financial officer of the Borrower will hold a meeting with the
Lender by teleconference within one (1) month after the delivery by the Borrower of its financial statements pursuant to Section 7.1(b) and (c), to, at a minimum, discuss business operations and review financial statements,
in each case with respect to the Borrower and its Subsidiaries.” 
 5. Amendment to Section 10.2.1(b).
Section 10.2.1(b) of the Credit Agreement is hereby amended by replacing each reference therein to “30 days” with a reference to “45 days”. 

  
 -2- 

 6. Amendment to Section 10.2.1. Section 10.2.1 of the Credit Agreement is
hereby amended by adding the following at the end thereof: 
 “Notwithstanding anything herein to the contrary, the Borrower shall
exclude from each Additional Interest Report, and each delivery of information pursuant to Section 10.2.5(a) (together with any Additional Interest Report, collectively, the “Additional Interest Deliverables”), any information
that is not publicly available; provided, if the Borrower would, but for this sentence, be required to provide any Additional Interest Deliverables that include any information that is not publicly available, the Borrower shall,
(i) inform the Lender (without disclosing any information that is not publicly available) of the fact that information that would have otherwise been included in such Additional Interest Deliverable is not publicly available and was therefore
excluded, and (ii) upon the request of the Lender, include such non-public information in such Additional Interest Deliverables (including any previous Additional Interest Deliverables that were delivered without such non-public information).
Compliance by the Borrower with the requirements of the foregoing sentence shall be deemed to be compliance with the applicable sections of this Agreement with respect to any information that is not publicly available that the Borrower would
otherwise have been required to deliver to the Lender.” 
 7. Conditions to Effectiveness of Amendment. This Amendment
shall become effective upon (i) receipt by the Lender and the Borrower of a counterpart signature of the other to this Amendment duly executed and delivered by each of the Lender and the Borrower and (ii) the completion of the IPO prior to
August 7, 2015. 
 8. Expenses. The Borrower agrees to pay on demand all reasonable expenses of the Lender (including,
without limitation, the reasonable fees and out-of-pocket expenses of Covington & Burling LLP, counsel to the Lender, and of local counsel, if any, who may be retained by or on behalf of the Lender) incurred in connection with the
negotiation, preparation, execution and delivery of this Amendment. 
 9. No Implied Amendment or Waiver. Except as expressly
set forth in this Amendment, this Amendment shall not, by implication or otherwise, limit, impair, constitute a waiver of or otherwise affect any rights or remedies of the Lender under the Credit Agreement or the other Loan Documents, or alter,
modify, amend or in any way affect any of the terms, obligations or covenants contained in the Credit Agreement or the other Loan Documents, all of which shall continue in full force and effect. Nothing in this Amendment shall be construed to imply
any willingness on the part of the Lender to agree to or grant any similar or future amendment, consent or waiver of any of the terms and conditions of the Credit Agreement or the other Loan Documents. 

10. Counterparts; Governing Law. This Amendment may be executed in any number of counterparts and by different parties hereto on
separate counterparts, each of such when so executed and delivered shall be an original, but all of such counterparts shall together constitute but one and the same agreement. Delivery of an executed counterpart of a signature page of this Amendment
by fax transmission or other electronic mail transmission (e.g., “pdf’ or “tif’) shall be effective as delivery of a manually executed counterpart of this Amendment. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 

[Remainder of Page Intentionally Left Blank] 

  
 -3- 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized as of the day and year first above written. 
  

			
	 GC AESTHETICS FINANCE LIMITED

as the Borrower

		
	By:		 /s/ Michael Bogle

	Name:		Michael Bogle
	Title:		Director
	
	 ROYALTY OPPORTUNITIES S.À R.L.,

as the Lender
 By OrbiMed Advisors, LLC,

its investment manager

		
	By:		 /s/ Samuel D. Isaly

	Name:		Samuel D. Isaly
	Title:		Managing Member

  
  
  

 
  

Signature Page to Third Amendment to Amended and Restated Credit Agreement

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