Document:

Exhibit 10.15.1

 EXHIBIT 10.15.1 
 NEWTEK BUSINESS SERVICES, INC. 
  
  
 Employment
Agreement with 
 Seth A. Cohen 
  
  
 PREAMBLE. This Agreement entered into this 31st day of December 2009, by and between Newtek Business Services, Inc. (the
“Company”) and SETH A. COHEN (the “Executive”), effective immediately. 
 WHEREAS, the Executive is
to be employed by the Company as an executive officer; and 
 WHEREAS, the parties desire by this writing to set forth
the employment relationship of the Company and the Executive. 
 NOW, THEREFORE, it is AGREED as follows:

 1. Defined Terms 
 When used anywhere in the Agreement, the following terms shall have the meaning set forth herein. 
 (a) “Board” shall mean the Board of Directors of the Company. 
 (b) “Change in Control” shall mean any one of the following events: (i) the acquisition of ownership, holding or power to vote 50% or more of the Company’s voting stock, or (ii) the acquisition of the ability
to control the election of a majority of the Company’s directors. Notwithstanding the foregoing, a Change in Control as defined in this Section 1(b) shall not be treated as a Change in Control for purposes of this Agreement unless it
constitutes a “change in control event” within the meaning of Section 1.409A-3(i)(5) of the Treasury Regulations promulgated under section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) (the
“Treasury Regulations”) 
 (c) “Code” shall mean the Internal Revenue Code of 1986, as amended from
time to time, and as interpreted through applicable rulings and regulations in effect from time to time. 
 (d) “Code
§280G Maximum” shall mean the product of 2.0 and the Executive’s “base amount” as defined in Code §280G(b)(3). 
 (e) “Company” shall mean Newtek Business Services, Inc., and any successor to its interest. 
 (f) “Common Stock” shall mean common shares of the Company. 

 (g) “Effective Date” shall mean the date of execution referenced in the
Preamble of this Agreement. 
 (h) “Executive” shall mean Seth A. Cohen. 
 (i) “Good Reason” shall mean any of the following events, which has not been consented to in advance by the Executive in
writing: (i) the requirement that the Executive move his personal residence, or perform his principal executive functions, more than fifty (50) miles from his primary office as of the Effective Date; (ii) a material reduction in the
Executive’s base compensation as the same may be increased from time to time; (iii) the failure by the Company to continue to provide the Executive with compensation and benefits provided for on the Effective Date, as the same may be
increased from time to time, or with benefits substantially similar to those provided to him under any of the Executive benefit plans in which the Executive now or hereafter becomes a participant, or the taking of any action by the Company which
would directly or indirectly reduce any of such benefits or deprive the Executive of any material fringe benefit enjoyed by him; (iv) the assignment to the Executive of duties and responsibilities that constitute a material diminution from
those associated with his position on the Effective Date; or (v) a material diminution or reduction in the Executive’s responsibilities or authority (including reporting responsibilities) in connection with his employment with the Company.

 (j) “Just Cause” shall mean the Executive’s willful misconduct, breach of fiduciary duty involving
personal profit, intentional failure to perform stated duties, conviction for a felony, or material breach of any provision of this Agreement. No act, or failure to act, on the Executive’s part shall be considered “willful” unless he
has acted, or failed to act, with an absence of good faith and without a reasonable belief that his action or failure to act was in the best interests of the Company. 
 (k) “Protected Period” shall mean the period that begins on the date six months before a Change in Control and ends on the earlier of six months following the Change in Control or the
expiration date of this Agreement. 
 (1) “Trigger Event” shall mean (i) the Executive’s voluntary
termination of employment within ninety (90) days of an event that both occurs during the Protected Period and constitutes Good Reason, or (ii) the termination by the Company or its successor(s) in interest, of the Executive’s
employment for any reason other than Just Cause during the Protected Period. 
 2. Employment. The Executive is employed
as Chief Financial Officer of the Company. The Executive shall render such administrative and management services for the Company and its subsidiaries as are currently rendered and as are customarily performed by persons situated in a similar
executive capacity and consistent with the duties of the Chief Financial Officer as set forth in the bylaws of the Company. The Executive shall report to the Chief Executive Officer. The Executive shall also promote, by entertainment or otherwise,
as and to the extent permitted by law, the business of the Company and its subsidiaries. The Executive’s other duties shall be such as the Board may from time to time reasonably direct, including normal duties as an officer of the Company.

  

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 3. Base Compensation. The Company agrees to pay the Executive during the term of this
Agreement a salary at the rate of $ 240,000 per annum, payable in cash not less frequently than monthly. Additionally, the Board shall review, not less often than annually, the rate of the Executive’s salary and may decide to further
increase his salary. 
 4. Cash Bonuses; Incentive Compensation. 
 (a) The Board shall determine the Executive’s right to receive incentive compensation in the form of cash bonuses and other awards. No
other compensation provided for in this Agreement shall be deemed a substitute for such incentive compensation. Cash bonuses shall be awarded pursuant to the terms of the Company’s Annual Cash Bonus Plan, if one has been adopted by the Board
and if not, then by action of the Board. 
 (b) Incentive bonus: in addition to all other compensation payable hereunder, the
Executive shall be entitled to participate in consideration for a cash bonus out of a pool to be established for this purpose by the Board. The amount of the Executive’s bonus participation shall be fixed by the Compensation Committee of the
Board if it finds the Executive’s performance to have been a major contributing factor to the success of the Company. 
 5.
Other Benefits. 
 (a) Participation in Retirement, Medical and Other Plans. The Executive shall participate in
any plan that the Company maintains for the benefit of its employees if the plan relates to (i) pension, profit-sharing, or other retirement benefits, (ii) medical insurance or the reimbursement of medical or dependent care expenses, or
(iii) other group benefits, including disability and life insurance plans. 
 (b) Executive Benefits; Expenses. The
Executive shall participate in any fringe benefits which are or may become available to the Company’s senior management Executives, including for example incentive compensation plans, club memberships, and any other benefits which are
commensurate with the responsibilities and functions to be performed by the Executive under this Agreement. The Executive shall be reimbursed for all reasonable out-of-pocket business expenses which he shall incur in connection with his services
under this Agreement upon substantiation of such expenses in accordance with the policies of the Company. 
 6. Term. The
Company hereby employs the Executive, and the Executive hereby accepts such employment under this Agreement, for the period commencing on the Effective Date and ending on March 31, 2011 or such earlier date as is determined in accordance with
Section 11 (the “Term”).” 
 7. Loyalty; Noncompetition. 
 (a) During the period of his employment hereunder and except for illnesses, reasonable vacation periods, and reasonable leaves of absence,
the Executive shall devote substantially all his full business time, attention, skill, and efforts to the faithful performance of his duties hereunder; provided, however, from time to time, Executive may serve on the boards of directors of, and hold
any other offices or positions in, companies or organizations, at the

  

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request of the Company or which will not present, in the opinion of the Board, any conflict of interest with the Company or any of its subsidiaries or affiliates, nor unfavorably affect the
performance of Executive’s duties pursuant to this Agreement, nor violate any applicable statute or regulation. “Full business time” is hereby defined as that amount of time usually devoted to like companies by similarly situated
executive officers. During the Term of his employment under this Agreement, the Executive shall not engage in any business or activity contrary to the business affairs or interests of the Company. 
 (b) Nothing contained in this Paragraph 7 shall be deemed to prevent or limit the Executive’s right to invest in the capital stock or
other securities of any business dissimilar from that of the Company or, solely as a passive or minority investor, in any business. 
 8. Standards. The Executive shall perform his duties under this Agreement in accordance with such reasonable standards as the Board may establish from time to time. The Company will provide Executive with the working facilities and
staff customary for similar executives and necessary for him to perform his duties. 
 9. Vacation and Sick Leave. At
such reasonable times as the Board shall in its discretion permit, the Executive shall be entitled, without loss of pay, to absent himself voluntarily from the performance of his employment under this Agreement, all such voluntary absences to count
as vacation time; provided that: 
 (a) The Executive shall be entitled to an annual vacation in accordance with the policies
that the Board periodically establishes for senior management Executives of the Company. 
 (b) The Executive shall not receive
any additional compensation from the Company on account of his failure to take a vacation, and the Executive shall not accumulate unused vacation from one fiscal year to the next, except in either case to the extent authorized by the Board.

 (c) In addition to the aforesaid paid vacations, the Executive shall be entitled without loss of pay, to absent himself
voluntarily from the performance of his employment with the Company for such additional periods of time and for such valid and legitimate reasons as the Board may in its discretion determine. Further, the Board may grant to the Executive a leave or
leaves of absence, with or without pay, at such time or times and upon such terms and conditions as such Board in its discretion may determine. 
 (d) In addition, the Executive shall be entitled to an annual sick leave benefit as established by the Board. 
 10. Indemnification. The Company shall indemnify and hold harmless Executive from any and all loss, expense, or liability that he may incur due to his services for the Company as an officer and or
a director (including any liability he may ever incur under Code § 4999, or a successor, as the result of severance benefits he collects pursuant to Sections 11 or 13), during the full Term of this Agreement and shall at all times maintain
adequate insurance for such purposes. 
  

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 11. Termination and Termination Pay. Subject to Section 13 hereof, the
Executive’s employment hereunder may be terminated under the following circumstances: 
 (a) Just Cause. The Board
may, based on a good faith determination and only after giving the Executive written notice and a reasonable opportunity to cure, immediately terminate the Executive’s employment at any time, for Just Cause. The Executive shall have no right to
receive compensation or other benefits for any period after termination for Just Cause. 
 (b) Without Just Cause. The
Board may, by written notice to the Executive, immediately terminate his employment for a reason other than Just Cause. In such event, the Executive shall be entitled to a total severance payment (the “Severance Payment”) equal to one
(1) times the sum of (i) Executive’s base salary in effect at the time of termination, plus (ii) the amount of all compensation paid to Executive under Section 4 hereof with respect to the immediately preceding fiscal year.
The Severance Payment shall be paid in equal installments over a twelve (12) month period following the Executive’s termination of employment, payable in accordance with the Company’s regularly scheduled payroll (the “Installment
Payments”). Each Installment Payment shall be treated as a separate payment for purposes of Treasury Regulations Section 1.409A-2(b)(2)(iii). 
 (c) Resignation by Executive with Good Reason. The Executive may at any time immediately terminate employment for Good Reason, in which case the Executive shall be entitled to receive the Severance
Payment payable in the same manner and on the same basis as provided for under Section 11(b) of the Agreement upon a termination without Just Cause. In addition, the Executive will be entitled to health, life, disability and other benefits
which the Executive would have been eligible to participate in through the expiration of the Term based on the benefit levels substantially equal to those that the Company provided for the Executive at the date of termination of employment, subject
to any restrictions as may be required under Code Section 409A 
 (d) Resignation by Executive without Good Reason.
The Executive may voluntarily terminate employment with the Company during the term of this Agreement, upon at least 60 days’ prior written notice to the Board of Directors, in which case the Executive shall receive only his compensation,
vested rights, and Executive benefits up to the date of his termination of employment. 
 (e) Retirement, Death, or
Disability. If the Executive’s employment terminates during the Term of this Agreement due to his death, a disability that results in his collection of any long-term disability benefits, or retirement at or after age 62, the Executive (or
the beneficiaries of his estate) shall be entitled to receive the compensation and benefits that the Executive would otherwise have become entitled to receive pursuant to subsection (d) hereof upon a resignation without Good Reason. 

(f) Termination or Non-Renewal Payment. If the Term of this Agreement is not extended for at least one (1) additional year in
circumstances in which the Executive is willing and able to execute such extension and continue performing services, then the Executive’s employment shall be terminated by the Company effective as of the expiration of the Term, in which event
he shall be entitled to a Severance Payment equal to one (1) times the

  

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sum of (i) Executive’s base salary in effect at the time of termination, plus (ii) the amount of all compensation paid to Executive under Section 4 hereof with respect to the
immediately preceding fiscal year. The Severance Payment shall be paid in equal installments over a twelve (12) month period following the Executive’s termination of employment, payable in accordance with the Company’s regularly
scheduled payroll. 
 12. No Mitigation. The Executive shall not be required to mitigate the amount of any payment
provided for in this Agreement by seeking other employment or otherwise, and no such payment shall be offset or reduced by the amount of any compensation or benefits provided to the Executive in any subsequent employment. 
 13. Change in Control. Notwithstanding any provision herein to the contrary, if a Trigger Event occurs during the Protected Period,
the Executive shall be paid an amount equal to the “Code § 280G Maximum. If the Trigger Event occurs during the portion of the Protected Period that is prior to the date of the Change in Control, the Code § 280G Maximum shall be
payable in the same manner and on the same basis as provided for under Section 11(b) of the Agreement upon a termination without Just Cause. If the Trigger Event occurs during the portion of the Protected Period that is on or after the date of
the Change in Control, the Code § 280G Maximum shall be paid in a lump sum within ten (10) days of his termination of employment. 
 14. Covenants. 
 (a) Definitions. For purposes of this Agreement:

 (i) Restrictive Period. The term “Restrictive Period” shall mean the period beginning on the Effective Date
and ending two (2) years after the termination of the Executive’s employment hereunder. 
 (ii) Covered
Customer. The term “Covered Customer” shall mean (A) during the Term, any customer of the Company and (B) after the Term, any person or entity who was, as of the end of the Term, a customer of the Company. 
 (iii) Covered Business. The term “Covered Business” shall mean (A) during the term, any business in which the Company
is engaged and (B) after the Term, any business in which the Company was engaged as of the end of the Term. 
 (iv)
Covered State. The term “Covered State” shall mean (A) during the Term, any state in the United States and (B) after the Term, any state (1) in which, as of the end of the Term, the Company was engaged in business or
(2) with respect to which the Company, as of the end of the Term, had expended material expense and/or efforts in connection with preparing to do business therein. 
 (b) Non-Interference. The Executive covenants and agrees that he will not at any time during the Restrictive Period for whatever reason, whether for his own account or for the account of any other
person, firm, corporation or other business organization: (i) interfere with contractual relationships between the Company and any of its customers or employees; (ii) hire, or solicit for hire, any person who is employed by the Company or
any parent or subsidiary

  

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of the Company, without the express written consent of the Company; or (iii) other than on behalf of the Company, solicit any Covered Customer of the Company in connection with the
engagement, by any person or entity, in any Covered Business in any Covered State. 
 (c) Confidentiality. The Executive
will not, at any time whether during or after his termination of employment, (i) disclose to anyone, without proper authorization from the Company, or (ii) use, for his or another’s benefit, any confidential or proprietary information
of the Company or any parent or subsidiary of the Company, which may include trade secrets, business plans or outlooks, financial data, marketing or sales programs, customer lists, brand formulations, training and operations manuals, products or
price strategies, mergers, acquisitions, and/or Company personnel issues. 
 (d) Blue Pencil; Equitable Relief. The
provisions contained in this Section 14 as to the time periods, scope of activities, persons or entities affected and territories restricted shall be deemed divisible so that if any provision contained in this Section is determined to be
invalid or unenforceable, such provision shall be deemed modified so as to be valid and enforceable to the full extent lawfully permitted. The Executive acknowledges that the provisions of this Section 14 are reasonable and necessary for the
protection of the Company and that the Company will be irrevocably damaged if such covenants are not specifically enforced. Accordingly, the Executive agrees that if he breaches or threatens to breach any of the covenants contained in this
Section 14, the Company will be entitled (i) to damages sufficient to compensate the Company for any harm to the Company caused thereby and (ii) to specific performance and injunctive relief for the purpose of preventing the breach or
threatened breach thereof without bond or other security or a showing that monetary damages will not provide an adequate remedy, in addition to any other relief to which the Company may be entitled under this Agreement.” 
 15. Reimbursement for Litigation Expenses. 
 In the event that any dispute arises between the Executive and the Company as to the terms or interpretation of this Agreement, whether instituted by formal legal proceedings or otherwise, including any
action that the Executive takes to enforce the terms of this Agreement or to defend against any action taken by the Company, the Executive shall be reimbursed for all costs and expenses, including reasonable attorneys’ fees, arising from such
dispute, proceedings or actions, provided that the Executive shall obtain a final judgement by a court of competent jurisdiction in favor of the Executive. Such reimbursement shall be paid within ten (10) days of Executive’s furnishing to
the Company written evidence, which may be in the form, among other things, of a cancelled check or receipt, of any costs or expenses incurred by the Executive. 
 16. Successors and Assigns. 
 (a) This Agreement shall inure to the benefit
of and be binding upon any corporate or other successor of the Company which shall acquire, directly or indirectly, by merger, consolidation, purchase or otherwise, all or substantially all of the assets or stock of the Company. 
  

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 (b) Since the Company is contracting for the unique and personal skills of the Executive,
the Executive shall be precluded from assigning or delegating his rights or duties hereunder without first obtaining the written consent of the Company. 
 17. Corporate Authority. Company represents and warrants that the execution and delivery of this Agreement by it has been duly and properly authorized by the Board and that when so executed and
delivered this Agreement shall constitute the lawful and binding obligation of the Company. 
 18. Amendments. No
amendments or additions to this Agreement shall be binding unless made in writing and signed by all of the parties, except as herein otherwise specifically provided. 
 19. Applicable Law. Except to the extent preempted by Federal law, the laws of the State of New York shall govern this Agreement in all respects, whether as to its validity, construction, capacity,
performance or otherwise. 
 20. Severability. The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 
 21. Entire Agreement. This Agreement, together with any understanding or modifications thereof as agreed to in writing by the parties, shall constitute the entire agreement between the parties hereto with respect to the matters
addressed and shall supercede all previous agreements with respect to such matters. 
 22. Tax Matters. All payments or
benefits provided under this Agreement are subject to any applicable employment or tax withholdings or deductions. In addition, the parties hereby agree that it is their intention that all payments or benefits provided under this Agreement be exempt
from, or if not so exempt, comply with, Code Section 409A and this Agreement shall be interpreted accordingly. Notwithstanding anything in this Agreement to the contrary, if any payments or benefits made or provided under the Agreement are
considered deferred compensation subject to Code Section 409A payable on account of Employee’s separation from service (but that do not meet an exemption under Code Section 409A, including without limitation the short term deferral or
the separation pay plan exemption), such payments or benefits shall be paid no earlier than the date that is six (6) months following Employee’s separation from service (or, if earlier, the date of death) to the extent required by Code
Section 409A. 
 [signatures on following page] 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first
hereinabove written. 
  

							
	Witnessed by:	 		  	NEWTEK BUSINESS SERVICES, INC.
				
	
 

	 		  	By:	 	
 

		 		  		 	Its Chief Executive Officer
				
	Witnessed by:	 		  		 	
				
	
 

	 		  	By:	 	
 

		 		  		 	Seth A. Cohen

  

 9The Second Supplemental Indenture

 Exhibit 4.2 
 AIRGAS, INC., 
 and 
 THE BANK OF NEW YORK MELLON, as Trustee 
  
  
 SECOND SUPPLEMENTAL
INDENTURE 
 Dated as of March 15, 2010 
 to 
 Indenture dated as of September 11, 2009 
  
  
 $300,000,000 2.85% Notes due 2013 

 TABLE OF CONTENTS 
  
  

					
	 	  	 	  	Page
	
	 ARTICLE I
 DEFINITIONS

	 SECTION 1.1
	  	 Generally
	  	1
	 SECTION 1.2
	  	 Definition of Certain Terms
	  	1
	
	 ARTICLE II
 GENERAL TERMS OF THE NOTES

			
	 SECTION 2.1
	  	 Form
	  	6
	 SECTION 2.2
	  	 Amount and Payment of Principal and Interest
	  	6
	 SECTION 2.3
	  	 Denominations
	  	7
	 SECTION 2.4
	  	 Global Securities
	  	7
	 SECTION 2.5
	  	 Payment, Transfer and Exchange
	  	7
	 SECTION 2.6
	  	 Registrar and Paying Agent
	  	8
	 SECTION 2.7
	  	 Ranking
	  	8
	 SECTION 2.8
	  	 Trustee’s Right to Refuse Directions in Certain Circumstances
	  	8
	
	 ARTICLE III
 REDEMPTION

			
	 SECTION 3.1
	  	 Redemption
	  	8
	 SECTION 3.2
	  	 Redemption Procedures
	  	9
	 SECTION 3.3
	  	 Notice of Redemption
	  	9
	
	 ARTICLE IV
 CHANGE OF CONTROL

			
	 SECTION 4.1
	  	 Change of Control
	  	9
	
	 ARTICLE V
 ADDITIONAL COVENANTS

			
	 SECTION 5.1
	  	 Restrictions on Liens
	  	12
	 SECTION 5.2
	  	 Limitation on Sale and Leaseback Transactions
	  	13
	 SECTION 5.3
	  	 Reports
	  	14
	
	 ARTICLE VI
 AMENDMENTS

			
	 SECTION 6.1
	  	 Amendments to Section 6.01 of the Base Indenture
	  	15
	 SECTION 6.2
	  	 Amendments to Section 9.01 of the Base Indenture
	  	16

  

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	 ARTICLE VII
 MISCELLANEOUS PROVISIONS

	 SECTION 7.1
	  	 Ratification of Base Indenture
	  	16
	 SECTION 7.2
	  	 Trustee Not Responsible for Recitals
	  	16
	 SECTION 7.3
	  	 Table of Contents, Headings, etc.
	  	17
	 SECTION 7.4
	  	 Counterpart Originals
	  	17
	 SECTION 7.5
	  	 Governing Law
	  	17
			
	 EXHIBIT A-1
	  	 Form of Note
	  	A-1

  

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 THIS SECOND SUPPLEMENTAL INDENTURE, dated as of March 15, 2010 (the “Second
Supplemental Indenture”), between Airgas, Inc., a Delaware corporation, as issuer (the “Company”) and The Bank of New York Mellon, a New York banking corporation, as trustee (the “Trustee”). 
 RECITALS: 
 WHEREAS, the Company has executed and delivered to the Trustee an Indenture, dated as of September 11, 2009 (the “Base Indenture” and as supplemented by this Second Supplemental Indenture, the
“Indenture”), providing for the issuance by the Company from time to time of its unsecured senior debentures, notes or other evidences of indebtedness to be issued in one or more series unlimited as to principal amount (the
“Securities”); 
 WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to
the Base Indenture and this Second Supplemental Indenture a new series of Securities designated the “2.85% Notes due 2013” (the “Notes”), the form and terms of such Notes to be set forth in this Second Supplemental
Indenture; 
 WHEREAS, all things necessary to make this Second Supplemental Indenture a valid agreement of the Company and the
Trustee, in accordance with its terms, and a valid amendment of, and supplement to, the Base Indenture have been done; 
 NOW,
THEREFORE, in consideration of the premises and the purchase and acceptance of the Notes by the Holders thereof, the Company covenants and agrees with the Trustee, for the equal and ratable benefit of the Holders, that the Base Indenture is
supplemented and amended, to the extent expressed herein, as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.1 Generally. 
 (a) Capitalized terms used herein and not otherwise defined herein shall have the respective
meanings ascribed thereto in the Base Indenture. 
 (b) The rules of interpretation set forth in the Base Indenture shall be
applied hereto as if set forth in full herein. 
 SECTION 1.2 Definition of Certain Terms. 
 For all purposes of this Second Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise requires, the
following terms shall have the following respective meanings: 
 “Attributable Debt” means, when used in
connection with a sale and leaseback transaction, at any date of determination, the product of (1) the net proceeds from such sale and leaseback transaction multiplied by (2) a fraction, the numerator of which is the number of full years
of the term of the lease relating to the property involved in such sale and leaseback transaction (without regard to any options to renew or extend such term) remaining at the date of the making of such computation and the denominator of which is
the number of full years of the term of such lease measured from the first day of such term. 

 “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and
Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have
beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent
condition. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning. 
 “Change of Control” means the occurrence of any of the following: 
 (1) the direct or
indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as
a whole to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than a Principal or a Related Party of a Principal; 
 (2) the adoption of a plan relating to the liquidation or dissolution of the Company; 
 (3) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is
that any “person” (as defined above) other than a Principal and its Related Parties, becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by voting power rather than number of
shares; 
 (4) the Company consolidates with, or merges with or into, any Person (other than a Principal or a
Related Party of a Principal), or any Person (other than a Principal or a Related Party of a Principal) consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock
of the Company or such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Voting Stock of the Company outstanding immediately prior to such transaction
constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving Person immediately after giving effect to such transaction; or 
  

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 (5) the first day on which a majority of the members of the Board of
Directors of the Company are not Continuing Directors. 
 “Change of Control Offer” means an offer to
repurchase Notes pursuant to Section 4.1 hereof. 
 “Change of Control Payment” means, with respect to
Notes tendered for repurchase pursuant to a Change of Control Offer, an amount equal to 101% of the aggregate principal amount of such Notes plus accrued and unpaid interest thereon, if any, to the date of repurchase. 
 “Change of Control Triggering Event” means, with respect to the notes, the notes cease to be rated Investment Grade by each
of the Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days
following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings change).
Notwithstanding the foregoing, no Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated. 
 “Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term (“Remaining Life”) of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury Price” means,
with respect to any Redemption Date, (1) the average of five Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment
Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Company who: 
 (1) was a member of such Board of Directors on the date of the Indenture; 
 (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election; or 
 (3) is a designee of a Principal or was nominated by a Principal. 
  

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 “Credit Agreement” means that certain Twelfth Amended and Restated Credit
Agreement, dated as of July 25, 2006, by and among the Company, subsidiaries party thereto as borrowers, Bank of America, N.A., as U.S. Agent, The Bank of Nova Scotia, as Canadian Agent, and the other Lenders named therein, including any
related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, modified, renewed, refunded, replaced or refinanced from time to time including any agreement extending the
maturity of, refinancing from time to time including any agreement extending the maturity of, refinancing, replacing or otherwise restructuring (including increasing the amount of available borrowings thereunder (other than for purposes of
Section 5.1(b)(2) of this Second Supplemental Indenture) or adding Restricted Subsidiaries of the Company as additional borrowers or guarantors thereunder) all or any portion of the Indebtedness under such agreement or any successor or
replacement agreement and whether by the same or any other agent, lender or group of lenders. 
 “Funded Debt”
means all Indebtedness for borrowed money, including purchase money indebtedness, having a maturity of more than one year from the date of its creation or having a maturity of less than one year but by its terms being renewable or extendible, at the
option of the obligor in respect thereof, beyond one year from its creation. 
 “Incur” means to issue, assume,
guarantee, incur or otherwise become liable for. The terms “Incurred,” “Incurrence” and “Incurring” shall each have a correlative meaning. 
 “Independent Investment Banker” means any of Banc of America Securities LLC, Barclays Capital Inc., Goldman, Sachs & Co. or Wells Fargo Securities, LLC, as appointed by the
Company, and their respective successors, or if all of such firms are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company. 
 “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating category
of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and the equivalent investment grade credit rating from any replacement rating agency or rating agencies selected by the
Company under the circumstances permitting the Company to select a replacement agency and in the manner for selecting a replacement agency, in each case as set forth in the definition of “Rating Agency.” 
 “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors.

 “Principal” means Peter McCausland (and in the event of his incompetency or death, his estate, heirs,
executor, administrator, committee or other personal representative (collectively, “heirs”)) or any Person controlled, directly or indirectly, by Peter McCausland or his heirs. 
  

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 “Rating Agency” means each of Moody’s and S&P; provided,
that if any of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside our control, the Company may appoint another “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act as a replacement for such Rating Agency; provided, that the Company shall give notice of such appointment to the Trustee. 
 “Reference Treasury Dealer” means (1) each of Banc of America Securities LLC, Barclays Capital Inc., Goldman,
Sachs & Co. and a Primary Treasury Dealer (defined herein) selected by Wells Fargo Securities, LLC and their respective successors, provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities
dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute for such bank another Primary Treasury Dealer and (2) any other Primary Treasury Dealer selected by the Independent Investment Banker after
consultation with the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in
writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third business day preceding such Redemption Date. 
 “Related Party” means: 
 (1) any immediate family
member (in the case of an individual) of the Principal; or 
 (2) any trust, corporation, partnership or other
entity, the beneficiaries, stockholders, partners, owners or Persons beneficially holding an 80% or more controlling interest of which consist of the Principal. 
 “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the
Securities Act, as such Regulation is in effect on the date of this Second Supplemental Indenture. 
 “S&P”
means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its successors. 
 “Treasury Rate” means, with respect to any Redemption Date, (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release
designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve

  

 -5- 

 
System and which establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the
Treasury Rate will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month) or (2) if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate will be calculated on the third business day preceding the Redemption Date. 
 “Voting Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled to vote generally in the election of the Board of Directors of
such Person. 
 ARTICLE II 
 GENERAL TERMS OF THE NOTES 
 SECTION 2.1 Form. 
 The Notes and the Trustee’s certificates of authentication shall be substantially in the form of Exhibit A-1 to this Second
Supplemental Indenture, which are hereby incorporated into this Second Supplemental Indenture. The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Second Supplemental Indenture and to the
extent applicable, the Company and the Trustee, by their execution and delivery of this Second Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 
 SECTION 2.2 Amount and Payment of Principal and Interest. 
 (a) The Trustee shall authenticate and deliver the Notes for original issue on the date hereof in the aggregate principal amount of $300,000,000. The principal amount of each Note shall be payable on
October 1, 2013. 
 (b) The Notes shall bear interest at 2.85% per year beginning on the date of issuance until the
Notes are redeemed, paid, or duly provided for. Interest shall be paid semiannually in arrears on April 1 and October 1 of each year (each an “Interest Payment Date”), commencing on October 1, 2010. The regular record
date for interest payable on the Notes shall be the March 15 and September 15, as the case may be, immediately preceding each Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day
months. Any payment of principal or interest required to be

  

 -6- 

 
made on a day that is not a Business Day need not be made on such day, but may be made on the next succeeding Business Day with the same force and effect as if made on such day and no interest
shall accrue as a result of such delayed payment. 
 (c) Subject to the terms and conditions contained herein, the Company may
from time to time, without the consent of the existing Holders create and issue additional Notes (the “Additional Notes”) having the same terms and conditions as the Notes in all respects, except for issue date and the first payment
of interest thereon. Such Additional Notes, at the Company’s determination and in accordance with the provisions of the Indenture, will be consolidated with and form a single series with the previously outstanding Notes for all purposes under
the Indenture, including, without limitation, amendments, waivers and redemptions. The aggregate principal amount of the Additional Notes, if any, shall be unlimited. 
 SECTION 2.3 Denominations. 
 The Notes will be issuable only in fully registered
form without coupons in denominations of $2,000 and any integral multiples of $1,000 in excess thereof. 
 SECTION 2.4 Global
Securities. 
 The Notes will be issuable in the form of one or more Global Securities and the Depository for such Global
Security will be The Depository Trust Company in accordance with the Base Indenture. 
 SECTION 2.5 Payment, Transfer and
Exchange. 
 (a) The principal and interest on Notes represented by Global Securities will be payable to the Depository or its
nominee, as the case may be, as the sole registered owner and the sole Holder of the Global Securities represented thereby. The principal and interest on Notes represented by Physical Securities will be payable, either in person or by mail, at the
office of the Paying Agent. 
 (b) Transfers of Global Securities will be limited to transfer in whole, but not in part, to the
Depository, its successors or their respective nominees. Interests of beneficial owners in the Global Securities may be transferred or exchanged for Physical Securities in accordance with the Indenture. Notes represented by Physical Securities are
presented to the Registrar with a request from the Holder of such Securities to register a transfer or to exchange them for an equal principal amount of Securities of other authorized denominations, the Registrar will register the transfer as
requested in accordance with the Indenture. 
  

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 SECTION 2.6 Registrar and Paying Agent. 
 The Company initially appoints the Trustee as Registrar and Paying Agent. The Company may change the Paying Agent and Registrar without
notice to Holders. 
 SECTION 2.7 Ranking. 
 The Notes will be senior unsecured obligations of the Company. The payment of the principal of, premium, if any, and interest on the Notes will (i) rank equally in right of payment with all other
indebtedness of the Company that is not by its terms expressly subordinated to other indebtedness of the Company, and (ii) rank senior in right of payment to all indebtedness of the Company that is, by its terms, expressly subordinated to the
senior indebtedness of the Company. 
 SECTION 2.8 Trustee’s Right to Refuse Directions in Certain Circumstances.

 With respect to directions given by the Holders of a majority in principal amount pursuant to the Indenture to the Trustee in
its exercise of any trust or power, the Trustee will be entitled to refuse to follow any such direction that conflicts with law or the Indenture or that the Trustee determines in good faith is unduly prejudicial to the rights of other Holders or
that may involve the Trustee in personal liability, unless the Trustee is offered indemnity satisfactory to it. 
 ARTICLE III

 REDEMPTION 
 SECTION 3.1 Redemption. 
 (a) Except as provided in this Article III, the Company
shall have no obligation to redeem, purchase or repay the Notes pursuant to any mandatory redemption, sinking fund or analogous provisions or at the option of a Holder thereof. 
 (b) The Notes are subject to redemption at any time or from time to time, in whole or in part, at the Company’s option at a Redemption
Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed, and (ii) as determined by the Reference Treasury Dealer, the sum of the present values of the remaining scheduled payments of principal and
interest in respect of the Notes to be redeemed discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus 25 basis points, plus accrued interest to
the Redemption Date. The Company may provide in such notice that payment of such Redemption Price and performance of the Company’s obligations with respect to such redemption or purchase may be performed by another Person. Any such notice may,
at the Company’s discretion, be subject to the satisfaction of one or more conditions precedent. 
  

 -8- 

 SECTION 3.2 Redemption Procedures. 
 The Trustee will select Notes called for redemption in part on a pro rata basis or on as nearly a pro rata basis as is practicable (subject
to procedures of the Depository); provided that the principal amount of any Note remaining outstanding after redemption in part shall be $2,000 or an integral multiple of $1,000 in excess thereof. In the case of Notes represented by Physical
Securities, a new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Note. In the case of Notes represented by a Global Security, the outstanding
principal amount of the Global Security representing the Notes will be reduced by book-entry. Notes called for redemption become due on the Redemption Date. On and after the Redemption Date, interest stops accruing on Notes or any portions of the
Notes called for redemption (unless there is a default in the payment of the Redemption Price and accrued interest). On or before the Redemption Date, the Company shall deposit with the Paying Agent (or the Trustee) money sufficient to pay the
Redemption Price of an accrued interest on the Notes to be redeemed on the Redemption Date. 
 SECTION 3.3 Notice of Redemption.

 (a) At the Company’s written request made at least 15 days prior to the date on which notice of redemption is to be
given (unless a shorter notice shall be agreed to in writing by the Trustee), the Trustee shall give the notice of redemption in the Company’s name and at the Company’s sole expense. 
 (b) Notices of redemption shall be mailed by first class mail at least 30 but not more than 60 days before the Redemption Date to each
Holder of Notes to be redeemed at its registered address. If any Note is to be redeemed in part only, the notice of redemption that relates to such Note shall state the portion of the principal amount thereof to be redeemed. 
 (c) Any notice to holders of Notes of any redemption will include the appropriate calculation of the Redemption Price, but does not need to
include the Redemption Price itself. The actual Redemption Price, calculated as described above, will be set forth in an Officers’ Certificate of the Company delivered to the Trustee no later than two Business Days prior to the Redemption Date

 ARTICLE IV 
 CHANGE OF CONTROL 
 SECTION 4.1 Change of Control. 
 (a) Upon the occurrence of a Change of Control Triggering Event, unless all Notes have been called for redemption, each Holder of Notes
shall have the right to require the Company to repurchase all or a portion (equal to $2,000 or an integral multiple of $1,000 in

  

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excess thereof) of such Holder’s Notes at an offer price in cash equal to the Change of Control Payment, subject to the rights of Holders of Notes on the relevant date to receive interest
due on the relevant Interest Payment Date. 
 (b) Within 30 days following any Change of Control Triggering Event or at the
Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company shall mail, or cause to be mailed, by first class mail, a notice to the Trustee and to each Holder describing the
transaction or transactions that constitute the Change of Control Triggering Event and specifying: 
 (i) that
the Change of Control Offer is being made pursuant to this Section 4.1 and that all Notes tendered will be accepted for payment; 
 (ii) the Change of Control Payment and the purchase date, which shall be a Business Day no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of
Control Payment Date”); 
 (iii) the CUSIP numbers for the Notes; 
 (iv) that any Note not tendered will continue to accrue interest; 
 (v) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment
pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 
 (vi) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender such Notes to the Paying Agent at the address specified in the notice prior to the close of business on the third
Business Day preceding the Change of Control Payment Date; 
 (vii) that Holders will be entitled to withdraw
their election referred to in clause (vi) if the Paying Agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a facsimile transmission or letter setting forth the name of
the Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased; 
 (viii) that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion will be
equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof; and 
  

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 (ix) that, if mailed prior to the date of consummation of the Change of
Control, the Change of Control Offer is conditioned on the Change of Control being consummated on or prior to the Change of Control Payment Date. 
 (c) The Company shall cause the Change of Control Offer to remain open for such period as is required by applicable law. The Company shall comply, in all material respects, with the requirements of Rule
14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the
extent that the provisions of any such securities laws or regulations conflict with the provisions of this Section 4.1, the Company will comply with those securities laws and regulations and will not be deemed to have breached its obligations
under this Section 4.1 by virtue of any such conflict. 
 (d) On the Change of Control Payment Date, the Company will, to
the extent lawful: 
 (i) accept or cause a third party to accept for payment all Notes or portions thereof
properly tendered pursuant to the Change of Control Offer; 
 (ii) deposit or cause a third party to deposit with
the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and 
 (iii) deliver or cause to be delivered to the Trustee the Notes so accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased
by the Company. 
 (e) The Paying Agent will promptly mail to each Holder of Notes properly tendered the Change of Control
Payment for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided
that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control
Payment Date. 
 (f) The Company shall not be required to make a Change of Control Offer upon a Change of Control Triggering
Event if a third party involved in the applicable Change of Control makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.1 applicable to a Change of Control
Offer made by the Company and purchases all Notes properly tendered and not withdrawn under such Change of Control Offer. 
  

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 ARTICLE V 
 ADDITIONAL COVENANTS 
 SECTION 5.1 Restrictions on Liens. 
 (a) The Company will not, and will not permit any Restricted Subsidiary to, Incur any Indebtedness secured by any Lien on any shares of
stock, Indebtedness or other obligations of a Restricted Subsidiary or any Principal Property of the Company or a Restricted Subsidiary, whether such shares of stock, Indebtedness or other obligations of a Subsidiary or Principal Property is owned
at the date of this Second Supplemental Indenture or thereafter acquired, without in any such case effectively providing that all the notes will be directly secured equally and ratably with such Lien. 
 (b) These restrictions do not apply to: 
 (1) the Incurrence of any Lien on any shares of stock, Indebtedness or other obligations of a Subsidiary or any Principal Property acquired after the date of this Second Supplemental Indenture (including
acquisitions by way of merger or consolidation) by the Company or a Restricted Subsidiary contemporaneously with such acquisition, or within 180 days thereafter, to secure or provide for the payment or financing of any part of the purchase price
thereof, or the assumption of any Lien upon any shares of stock, Indebtedness or other obligations of a Subsidiary or any Principal Property acquired after the date of this Second Supplemental Indenture existing at the time of such acquisition, or
the acquisition of any shares of stock, Indebtedness or other obligations of a Subsidiary or any Principal Property subject to any Lien without the assumption thereof, provided that every such Lien referred to in this clause (1) shall attach
only to the shares of stock, Indebtedness or other obligations of a Subsidiary or any Principal Property so acquired and fixed improvements thereon; 
 (2) any Lien on any shares of stock, Indebtedness or other obligations of a Subsidiary or any Principal Property existing on the date the Notes are initially issued, including such Liens in respect of the
Credit Agreement; 
 (3) any Lien on any shares of stock, Indebtedness or other obligations of a Subsidiary or
any Principal Property in favor of the Company or any Restricted Subsidiary; 
 (4) any Lien on Principal
Property being constructed or improved securing loans to finance such construction or improvements; 
 (5) any
Lien in favor of the United States of America or any State, or in favor of any department, agency or instrumentality or political division, or in favor of any other country or any political subdivision of a foreign country, the purpose of which is
to secure partial, progress, advance or other payments; 
  

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 (6) any Lien imposed by law, for example mechanics’, workmen’s,
repairmen’s or other similar Liens arising in the ordinary course of business; 
 (7) any pledges or
deposits under workmen’s compensation or similar legislation or in certain other circumstances; 
 (8) any
Lien in connection with legal proceedings; 
 (9) any Lien for taxes or assessments; 
 (10) any Lien to secure the performance of bids, tenders, letters of credit, contracts (other than contracts for the payment
of indebtedness), leases, statutory obligations, surety, customs, appeal, performance and payment bonds and other obligations of like nature, in each such case arising in the ordinary course of business; and 
 (11) any renewal of or substitution for any Lien permitted by any of the preceding clauses (1) through (4) above,
provided, in the case of a Lien permitted under clause (1), (2) or (4) above, the debt secured is not increased nor the Lien extended to any additional assets. 
 (c) Notwithstanding the foregoing, the Company or any Restricted Subsidiary may create or assume Liens in addition to those permitted by Section 5.1(b)(1) through (11), and renew, extend or replace
such Liens, provided that at the time of such creation, assumption, renewal, extension or replacement of such Lien, and after giving effect thereto, the total outstanding Indebtedness secured by Liens Incurred pursuant to this paragraph, together
with the total outstanding Attributable Debt Incurred in connection with any sale and leaseback transactions entered into pursuant to the provisions of this Second Supplemental Indenture described in Section 5.2(b) does not exceed 10% of
Consolidated Net Tangible Assets. 
 (d) For the purposes of this Section 5.1 and Section 5.2 of this Second
Supplemental Indenture, the giving of a guarantee which is secured by a Lien on any shares of stock, Indebtedness or other obligations of a Subsidiary or any Principal Property, and the creation of a Lien on any shares of stock, Indebtedness or
other obligations of a Subsidiary or any Principal Property to secure Indebtedness that existed prior to the creation of such Lien, shall be deemed to involve the creation of Indebtedness in an amount equal to the principal amount guaranteed or
secured by such Lien. 
 SECTION 5.2 Limitation on Sale and Leaseback Transactions. (a) The Company will not, and will not
permit any Restricted Subsidiary to, sell or transfer, directly or indirectly, except to the Company or a Restricted Subsidiary, any Principal Property as an entirety, or any substantial portion thereof, with the intention of taking back a lease of
such property, except a lease for a period of three years or less at the end of which it is intended

  

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that the use of such property by the lessee will be discontinued; provided that, notwithstanding the foregoing, the Company or any Restricted Subsidiary may sell any such Principal
Property and lease it back for a longer period: 
 (1) if the Company or such Restricted Subsidiary would be
entitled, pursuant to the provisions of this Second Supplemental Indenture described above under Section 5.1 to create a mortgage on the property to be leased securing Funded Debt in an amount equal to the Attributable Debt with respect to such
sale and leaseback transaction without equally and ratably securing the outstanding notes; or 
 (2) if the
Company promptly informs the Trustee of such transaction, the net proceeds of such transaction are at least equal to the fair market value (as determined by board resolution) of such property, and the Company causes an amount equal to the net
proceeds of the sale to be applied to the retirement, within 180 days after receipt of such proceeds, of Funded Debt Incurred or assumed by the Company or a Restricted Subsidiary (including the notes); or 
 (3) if the Company, within 180 days after the sale or transfer, applies or causes a Restricted Subsidiary to apply an amount
equal to the greater of the net proceeds of such sale or transfer or the fair market value of the Principal Property (or portion thereof) so sold and leased back at the time of entering into such sale and leaseback transaction (in either case as
determined by board resolution) to purchase other Principal Property having a fair market value at least equal to the fair market value of the Principal Property (or portion thereof) sold or transferred in such sale and leaseback transaction.

 (b) Notwithstanding the foregoing, the Company or any Restricted Subsidiary may enter into sale and leaseback transactions in
addition to those permitted in Section 5.1(a) and without any obligation to retire any outstanding notes or other Funded Debt, provided that at the time of entering into such sale and leaseback transactions and after giving effect thereto, the
total outstanding Attributable Debt Incurred pursuant to this Section 5.1(b), together with any of the total outstanding Indebtedness secured by Liens created, assumed or otherwise incurred pursuant to the provisions of this Second Supplemental
Indenture described in Section 5.1(a) does not exceed 10% of Consolidated Net Tangible Assets. 
 SECTION 5.3 Reports.
Whether or not required by the Commission, so long as any notes are outstanding, the Company will furnish to the Holders of Notes, within the time periods specified in the Commission’s rules and regulations: 
 (1) all quarterly and annual financial information that would be required to be contained in a filing with the Commission on
Forms 10-Q and 10-K if the Company were required to file such Forms, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to

  

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the annual information only, a report on the annual financial statements by the Company’s certified independent accountants; and 
 (2) all current reports that would be required to be filed with the Commission on Form 8-K if the Company were required to
file such reports. 
 In addition, whether or not required by the Commission, the Company will file a copy of all of the information and reports
referred to in clauses (1) and (2) above with the Commission for public availability within the time periods specified in the Commission’s rules and regulations (unless the Commission will not accept such a filing) and make such
information available to securities analysts and prospective investors upon request. 
 ARTICLE VI 
 AMENDMENTS 
 SECTION 6.1 Amendments to Section 6.01 of the Base Indenture. 
 Events of Default. 
 (a) Section 6.01(3) of the Base Indenture is deleted in its entirety and replaced with the following: 
 “(3) a failure to perform any of the Company’s other covenants or agreements contained in this Indenture (other
than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of a series of Securities other than such
series) applicable to the Securities of any series, for a period of 60 days after written notice to the Company by the Trustee or to the Company and the Trustee by holders of at least 25% of the principal amount of the Securities of such series then
outstanding (for purposes of Section 5.3 of the Second Supplemental Indenture, the 60 day period will be extended to 90 days) specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of
Default” hereunder;” 
 (b) The word “and” is deleted from the end of Section 6.01(5) of the Base
Indenture, and the following is inserted before the period at the end of Section 6.01(6) of the Base Indenture 
 “ and; 
 (7) default under any mortgage, indenture or instrument under which there may be issued
or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Significant Subsidiaries (or the payment of which is guaranteed by the Company or any of its Significant Subsidiaries)

  

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whether such Indebtedness or guarantee now exists, or is created after the date of the Indenture, if that default (a) is caused by a failure to pay principal at its Stated Maturity after
giving effect to any applicable grace period provided in such Indebtedness (a “Payment Default”); or (b) results in the acceleration of such Indebtedness prior to its express maturity, and, in each case, the principal amount of
any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $100.0 million or more.” 
 SECTION 6.2 Amendments to Section 9.01 of the Base Indenture. 
 Section 9.01(b) of the Base Indenture is deleted in its entirety and replaced with the following: 
 “(b) Subject to Sections 9.01(c) and 9.02, the Company may at any time elect to terminate some or all of its obligations under the
outstanding Securities and this Indenture (hereinafter, “Legal Defeasance”) except for obligations under Sections 2.04, 2.07 and 2.08 and obligations under the TIA. The Company may terminate its obligations under
Section 6.01(4) and (5) (with respect to Restricted Subsidiaries) and Section 4 and Sections 5.1 and 5.2 of the Second Supplemental Indenture on a date the conditions set forth in Section 9.02 are satisfied (hereinafter,
“Covenant Defeasance”) and thereafter, any omission to comply with any covenant referred to above will not constitute a Default or an Event of Default with respect to the Securities. The Company may exercise its Legal Defeasance
option notwithstanding its prior exercise of its Covenant Defeasance option.” 
 ARTICLE VII 
 MISCELLANEOUS PROVISIONS 
 SECTION 7.1 Ratification of Base Indenture. 
 The Base Indenture, as supplemented
by this Second Supplemental Indenture, is in all respects ratified and confirmed, and this Second Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided. 
 SECTION 7.2 Trustee Not Responsible for Recitals. 
 The recitals contained herein and in the Notes, except with respect to the Trustee’s certificates of authentication, shall be taken as the statements of the 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 Second Supplemental Indenture or of the Notes. 
  

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 SECTION 7.3 Table of Contents, Headings, etc. 
 The table of contents and headings of the Articles and Sections of this Second Supplemental Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 
 SECTION 7.4 Counterpart Originals. 
 The parties may sign any number of copies of this Second Supplemental Indenture.
Each signed copy shall be an original, but all of them together represent the same agreement. 
 SECTION 7.5 Governing Law.

 THIS SECOND SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK. 
 [Signature Pages Follow] 
  

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

					
	AIRGAS, INC.
		
	By:	 	 /s/ Joseph C. Sullivan

		 	Name:	 	Joseph C. Sullivan
		 	Title:	 	Vice President & Treasurer

  

 S-1 

					
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	 /s/ Mary Miselis

		 	Name:	 	Mary Miselis
		 	Title:	 	Vice President

  

 S-2 

 EXHIBIT A-1 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN
PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITORY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT HEREON IS
MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP No.: 009363AH5 
 ISIN No.: US009363AH52

 AIRGAS, INC. 
  

				
	 No. 1
	  	$	300,000,000

 2.85% NOTE DUE
2013 
 AIRGAS, INC., a Delaware corporation, as issuer (the “Company”), for value received, promises to pay to
CEDE & CO. or registered assigns the principal sum of $300,000,000 on October 1, 2013. 
 Interest Payment Dates:
April 1 and October 1, commencing October 1, 2010. 
 Record Dates: March 15 and September 15.

 Reference is made to the further provisions of this Note contained herein, which will for all purposes have the same effect
as if set forth at this place. 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by one of its duly authorized officers. 
 Dated: March 15, 2010 
  

			
	AIRGAS, INC.
		 	
	By:	 	  

		 	Name:
		 	Title:
		 	
		 	

 Certificate of Authentication 
 This is one of the 2.85% Notes due 2013 referred to in the within-mentioned Indenture. 
  

			
	 THE BANK OF NEW YORK MELLON,
 as Trustee

		
	By:	 	  

		 	Authorized Signatory

 Dated: 

 [FORM OF REVERSE OF NOTE] 
 AIRGAS, INC. 
 2.85% NOTE DUE 2013 
 1. Interest. AIRGAS, INC., a Delaware corporation, as issuer (the “Company”), promises to pay, until the principal
hereof is paid or made available for payment, interest on the principal amount set forth on the face hereof at a rate of 2.85% per annum. Interest hereon will accrue from and including the most recent date to which interest has been paid or, if
no interest has been paid, from and including March 15, 2010 to but excluding the date on which interest is paid. Interest shall be payable in arrears on April 1 and October 1 of each year, commencing October 1, 2010. Interest
will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company shall pay interest on overdue principal and on overdue interest (to the full extent permitted by law) at the rate borne by the Notes. 
 2. Method of Payment. The Company will pay interest hereon (except defaulted interest) to the Persons who are registered Holders at
the close of business on the March 15 and September 15 immediately preceding the interest payment date (whether or not a Business Day). Holders do not have to surrender Notes to a Paying Agent to collect principal payments. The Company
will pay to the Paying Agent principal and interest in money of the United States of America that at the time of payment is legal tender for payment of public and private debts. If a Holder has given wire transfer instructions to the Company, the
Company will pay, or cause to be paid by the Paying Agent, all principal and interest on that Holder’s Notes in accordance with those instructions. All other payments on the Notes will be made at the office or agency of the Paying Agent and
Registrar unless the Company elects to make interest payments by check mailed to the Holders at their address set forth in the register of Holders. 
 3. Paying Agent and Registrar. Initially, The Bank of New York Mellon (the “Trustee”) will act as a Paying Agent and Registrar. The Company may change any Paying Agent or Registrar
without notice to the Holders. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
 4.
Indenture. This Note is one of the series designated on the face hereof. This Note is one of a duly authorized issue of securities of the Company issued and to be issued in one or more series under an Indenture dated as of September 11,
2009 (the “Base Indenture”), between the Company and the Trustee, as supplemented by the Second Supplemental Indenture, dated as of March 15, 2010, between the Company and the Trustee (the “Second Supplemental
Indenture” and, together with the Base Indenture, as supplemented by the Second Supplemental Indenture, the “Indenture”). This is one of an issue of Notes of the Company issued, or to be issued, under the Indenture. The
terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb), as amended from time to time (the “Trust Indenture
Act”). The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act

 
for a statement of them. Capitalized and certain other terms used herein and not otherwise defined have the meanings set forth in the Indenture. 
 5. Optional Redemption. The Notes of this series are subject to redemption at any time or from time to time, in whole or in part, at
the Company’s option at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed, and (ii) as determined by the Reference Treasury Dealer, the sum of the present values of the remaining
scheduled payments of principal and interest in respect of the Notes to be redeemed (not including any portion of those payments of interest accrued as of the date of redemption) discounted to the Redemption Date on a semi-annual basis (assuming a
360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus 25 basis points, plus accrued interest to the Redemption Date. The Company may provide in such notice that payment of such price and performance of the
Company’s obligations with respect to such redemption or purchase may be performed by another Person. Any such notice may, at the Company’s discretion, be subject to the satisfaction of one or more conditions precedent. 
 Any notice to holders of Notes of a redemption pursuant to paragraph 5 hereof will include the appropriate calculation of the Redemption
Price, but does not need to include the Redemption Price itself. The actual Redemption Price, calculated as described above, will be set forth in an Officers’ Certificate of the Company delivered to the Trustee no later than two Business Days
prior to the Redemption Date. 
 6. Redemption Procedures. The Trustee will select Notes called for redemption in part
pursuant to paragraph 5 on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to procedures of the Depository); provided that the principal amount of any Note remaining outstanding after redemption in
part shall be $2,000 or an integral multiple of $1,000 in excess thereof. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Note, or in the case
of Notes represented by a Global Security, the outstanding principal amount of such Global Security will be reduced by book-entry. Notes called for redemption pursuant to paragraph 5 hereto become due on the Redemption Date. On and after the
Redemption Date, interest stops accruing on Notes or portions of them called for redemption (unless there is a default in the payment thereof). 
 7. Notice of Redemption. Notices of redemption pursuant to paragraph 5 shall be mailed by first class mail at least 30 but not more than 60 days before the Redemption Date to each Holder of Notes
to be redeemed at its registered address. If any Note is to be redeemed in part only, the notice of redemption that relates to such Note shall state the portion of the principal amount thereof to be redeemed. 
 8. Change of Control. Upon the occurrence of a Change of Control Triggering Event, unless all Notes have been called for redemption
pursuant to paragraph 5 of this Note, each Holder of Notes of this series shall have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Notes at an offer price
in cash equal to the Change of Control Payment. The Change of Control Offer will be made in accordance with the terms specified in the Indenture. 

 9. Denominations, Transfer, Exchange. The Notes are in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and to pay to it any taxes and fees required by law or permitted by the Indenture. 
 10.
Persons Deemed Owners. The registered Holder of this Note may be treated as the owner of this Note for all purposes. 
 11. Unclaimed Money. If money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent will pay the money back to the Company at its written request. After that, Holders entitled to the
money must look to the Company for payment as general creditors unless an “abandoned property” law designates another Person. 
 12. Amendment, Supplement, Waiver, Etc. The Company and the Trustee (if a party thereto) may, without the consent of the Holders of any outstanding Notes, amend, waive or supplement the Indenture
or the Notes for certain specified purposes, including, among other things, curing ambiguities, defects or inconsistencies, maintaining the qualification of the Indenture under the Trust Indenture Act of 1939, as amended, providing for the
assumption by a successor to the Company of its obligations under the Indenture and making any change that does not materially and adversely affect the rights of any Holder. Other amendments and modifications of the Indenture or the Notes may be
made by the Company and the Trustee with the consent of the Holders of not less than a majority of the aggregate principal amount of the outstanding Notes, subject to certain exceptions requiring the consent of the Holders of the particular Notes to
be affected. 
 13. Successor Corporation. When a successor corporation assumes all the obligations of its predecessor
under the Notes and the Indenture and the transaction complies with the terms of Article Five of the Base Indenture, the predecessor corporation will, except as provided in Article Five of the Base Indenture, be released from those obligations.

 14. Defaults and Remedies. Events of Default are set forth in the Indenture. Subject to certain limitations in the
Indenture, if an Event of Default (other than an Event of Default specified in Sections 6.01(4) and 6.01(5) of the Indenture) occurs and is continuing, then, and in each and every such case, either the Trustee, by notice in writing to the Company,
or the Holders of not less than 25% of the principal amount of the Notes then outstanding, by notice in writing to the Company and the Trustee, may, and the Trustee at the request of such Holders shall, declare due and payable, if not already due
and payable, the principal of and any accrued and unpaid interest on all of the Notes; and upon any such declaration all such amounts upon such Notes shall become and be immediately due and payable, anything in the Indenture or in the Notes to the
contrary notwithstanding. If an Event of Default specified in Sections 6.01(4) and 6.01(5) of the Indenture occurs, then the principal of and any accrued and unpaid interest on all of the Notes shall immediately become due and payable without any
declaration or other act on the part of the Trustee or any Holder. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the
Notes. Subject to certain limitations, Holders of a majority in principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust

 
or power, provided, that the Trustee will be entitled to refuse to follow any such direction that conflicts with law or the Indenture or that the Trustee determines in good faith is unduly
prejudicial to the rights of other Holders or that may involve the Trustee in personal liability, unless the Trustee is offered indemnity satisfactory to it. The Trustee may withhold from Holders notice of any continuing default (except a default in
payment of principal, premium, if any, or interest on the Notes or a default in the observance or performance of any of the obligations of the Company under Article Five of the Base Indenture) if it determines that withholding notice is in their
best interests. 
 15. Trustee Dealings with Company. Subject to certain limitations imposed by the Trust Indenture Act,
the Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not Trustee. 

16. No Recourse Against Others. No past, present or future director, officer, employee, incorporator, agent, member or stockholder
or Affiliate of the Company, as such, shall have any liability for any obligations of the Company under the Notes, the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by
accepting a Note waives and releases all such liabilities. The waiver and release are part of the consideration for issuance of the Notes. 
 17. Discharge. The Company’s obligations pursuant to the Indenture will be discharged, except for obligations pursuant to certain sections thereof, subject to the terms of the Indenture, upon
the payment of all the Notes or upon the irrevocable deposit with the Trustee of United States dollars or Government Obligations sufficient to pay when due principal of and interest on the Notes to maturity or redemption. 
 18. Authentication. This Note shall not be valid until the Trustee signs the certificate of authentication on the other side of this
Security. 
 19. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. The Trustee and the Company agree to submit to the jurisdiction of the courts of the State of New York in any action or proceeding arising out of or relating to the Indenture or the Notes. 
 20. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in
common), TENANT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

If to the Company: 
 Airgas, Inc. 
 259 North Radnor-Chester Rd. 

 Radnor, Pennsylvania 19087-5283 
 Attn: General Counsel 
 Fax: (610) 225-3271 
 With a copy to: 
 Cahill Gordon & Reindel LLP 
 80 Pine Street 
 New York, NY 10005 
 Attn: Michael Sherman 
 Fax: (212) 378-2598 

 ASSIGNMENT 
 I or we assign and transfer this Note to: 
  
  
 (Insert assignee’s social
security or tax I.D. number) 
  
  
 (Print or type name, address and zip code of assignee) 
 and irrevocably appoint: 
 Agent to transfer this Note on the books of the
Company. The Agent may substitute another to act for him. 
  

							
	Date:	 	  
	  	Your Signature:	  	  

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

  

					
	 Signature Guarantee:
	 	  
	 	

 SIGNATURE GUARANTEE 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as
amended.

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